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Integrated Annual Report 2021
INTEGRATED ANNUAL REPORT 2021
1
What’s Inside
2-3
ABOUT THIS REPORT
4-5
WHO WE ARE
8-9
ABOUT MISC
10-11
WHO WE ARE AND WHAT WE DO
12-13
WHAT WE OWN/OPERATE
14-15
HOW WE MOVE ENERGY
16-17
WHERE WE OPERATE
18-19
KEY MILESTONES
20-21
KEY MESSAGES
24-25
CHAIRMAN’S MESSAGE
26-27
PRESIDENT/GROUP CEO’S REVIEW
30-31
HIGHLIGHTS
38-39
KEY HIGHLIGHTS 2021
40-41
A LOOK BACK AT 2021
42-43
STRATEGIC REVIEW
44-45
STRATEGIC OVERVIEW
46-47
HOW WE CREATE VALUE
52-53
OUR STRATEGIC FOCUS
56-57
OUR MATERIALMATTERS
62-63
OUR STAKEHOLDERS
66-67
OUR OPERATING ENVIRONMENT
68-69
OUR RISKS AND MITIGATION STRATEGIES
78-79
DELIVERING OUR STRATEGY
86-87
SUSTAINABILITY
94-95
ANCHORING SUSTAINABILITY @ MISC
96-97
FINANCIAL REVIEW
106-107
GROUP FINANCIAL REVIEW
108-109
FINANCIAL CALENDAR
112-113
FIVE-YEAR GROUP FINANCIAL PERFORMANCE
114-115
STATEMENT OF VALUE ADDED AND VALUE DISTRIBUTED
116-117
BUSINESS REVIEW
118-119
GAS ASSETS & SOLUTIONS
120-121
PETROLEUM & PRODUCT SHIPPING
126-127
OFFSHORE BUSINESS
136-137
MARINE & HEAVY ENGINEERING
142-143
INTEGRATED MARINE SERVICES
152-153
PORT MANAGEMENT & MARITIME SERVICES
160-161
MARITIME EDUCATION & TRAINING
166-167
PEOPLE DEVELOPMENT
174-175
OPERATING SAFELY AND SUSTAINABLY
180-181
OPERATING RESPONSIBLY
190-191
LEADERSHIP
198-199
OUR BOARD AT A GLANCE
200-201
PROFILES OF THE BOARD OF DIRECTORS
202-203
PROFILES OF THE MANAGEMENT COMMITTEE
214-215
GOVERNANCE
226-227
CORPORATE GOVERNANCE OVERVIEW STATEMENT
228-229
NOMINATION & REMUNERATION COMMITTEE REPORT
248-249
BOARD AUDIT COMMITTEE REPORT
256-257
BOARD GOVERNANCE & RISK COMMITTEE REPORT
266-267
STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL
270-271
STATEMENT OF DIRECTORS’ RESPONSIBILITY
286-287
ADDITIONAL COMPLIANCE INFORMATION
286-287
FINANCIAL STATEMENTS
288-289
DIRECTORS’ REPORT
290-291
STATEMENT BY DIRECTORS
296-297
STATUTORY DECLARATION
296-297
INCOME STATEMENTS
296-297
STATEMENTS OF COMPREHENSIVE INCOME
298-299
STATEMENTS OF FINANCIAL POSITION
298-299
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
302-303
STATEMENTS OF CHANGES IN EQUITY
304-305
STATEMENTS OF CASH FLOWS
304-305
NOTES TO THE FINANCIAL STATEMENTS
308-309
INDEPENDENT AUDITORS' REPORT
448-449
ADDITIONAL INFORMATION
456-457
MISC GROUP STRUCTURE
458-459
PROPERTIES OWNED BY MISC BERHAD AND ITS SUBSIDIARIES
462-463
LIST OF VESSELS AND ASSETS
464-465
STATISTICS ON SHAREHOLDINGS
470-471
CORPORATE INFORMATION
474-475
LIST OF ABBREVIATIONS
476-477
ANNUAL GENERAL MEETING
480-481
NOTICE OF ANNUAL GENERAL MEETING
482-483
ADMINISTRATIVE NOTES RELATING TO THE 53RD ANNUAL GENERAL MEETING
486-487
Form of Proxy
492-493
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