NAVIGATING A SUSTAINABLE FUTURE TOGETHER Scan this QR code to view it online or visit https://www.miscgroup.com/ THEME RATIONALE Navigating a Sustainable Future Together, reflects our belief that building a better world is not just a goal but a journey we embark on collectively with stakeholders, employees, and the communities we operate in. It harmoniously intertwines our 55-year legacy as a global maritime conglomerate with a visionary roadmap to foster a just energy transition and shape a sustainable world for the next generation. In the next chapter of our journey, we aim to embrace and lead transformative changes that will propel us toward a more sustainable and responsible future. To us, success is not merely measured by cargo tonnage but by the profound impact on people, the environment, and society at large. What’s Inside 8 Who We Are 10 What We Do 14 How We Move Energy 2 ABOUT MISC 4 Overview 5 MISC’s 2023 Integrated Reporting Suite 1 ABOUT THIS REPORT 3 KEY MESSAGES 18 Chairman’s Message 22 President/Group Chief Executive Officer’s Message 26 Vice President’s Message Corporate Planning & Group Finance 4 HIGHLIGHTS 32 Key Highlights 2023 34 A Look Back at 2023 5 VALUE WE CREATE 42 Our Integrated Approach to Value Creation 44 Value Creation Business Model 46 Key Capitals 48 Engaging with Stakeholders 6 STRATEGIC REVIEW 54 Our Operating Environment 62 Our Material Matters 66 Our Risks and Mitigation Strategies 70 Delivering Our Strategy and Its Focus 7 BUSINESS REVIEW 80 Gas Assets & Solutions 83 Petroleum & Product Shipping 86 Offshore Business 89 Marine & Heavy Engineering 92 Marine Services 96 Maritime Education & Training 11 LEADERSHIP 130 Our Board at a Glance 131 Our Board of Directors 132 Profiles of the Board of Directors 136 Our Management Committee 138 Profiles of the Management Committee 12 GOVERNANCE 146 Corporate Governance Overview Statement 165 Board Nomination & Remuneration Committee Report 172 Board Audit Committee Report 181 Board Sustainability & Risk Committee Report 185 Statement on Risk Management & Internal Control 199 Statement of Directors’ Responsibility 199 Additional Compliance Information 13 ADDITIONAL INFORMATION 202 Properties Owned by MISC Berhad and Its Subsidiaries 204 Statistics on Shareholdings 207 Corporate Information 208 List of Abbreviations 212 Notice of Annual General Meeting 216 Administrative Notes Relating to the 55th Annual General Meeting Form of Proxy 14 ANNUAL GENERAL MEETING FINANCIAL REVIEW 9 108 Group Financial Review 111 Financial Calendar 112 Five-Year Group Financial Performance 114 Statement of Value Added & Value Distributed 10 ANCHORING SUSTAINABILITY 118 Sustainability Governance 120 ESG Risk Management 121 Sustainability Strategy and Its Key Progress in 2023 123 Contributing to the Sustainable Development Goals (SDGs) 124 Memberships and Associations 125 Climate-Related Financial Disclosures 126 Bursa Malaysia Common Sustainability Matters and Indicators CORPORATE ENABLERS 8 102 People Development 103 Operating Safely & Sustainably 104 Operating Responsibly NAVIGATION ICONS Material Matters Stakeholders Key Capitals Physical Capital P Human Capital H Natural Capital N Financial Capital F Intellectual Capital I Social & Relationship Capital SR SDGs Risks Geopolitical Instability Increasing ClimateRelated Regulations and Requirements Shift in Stakeholders’ Preference Towards New Energy and Low-Carbon Solutions Technology Developments Project Management Asset Availability, Utilisation and Marketability Governance and Integrity Health and Safety Cybersecurity Talent Development and Retention Health and Safety Climate Change Energy Management Financial Performance Values, Governance and Business Ethics Human Rights Sustainable Supply Chain Ocean Health Security Talent Development and Retention Waste Management Diversity and Inclusion Digitalisation Cybersecurity Community Investment Employees Customers Business Partners/ Suppliers & Vendors Government/ Regulators Shareholders/ Investors/ Financial Services Providers www.miscgroup.com miscweb@miscbhd.com www.miscgroup.com/ our-solutions Business Solutions www.miscgroup.com/ investor-relations investor.relations@ miscbhd.com Investor Relations www.miscgroup.com/ sustainability misc.sustainability@ miscbhd.com Sustainability www.miscgroup.com/ about-us/corporategovernance Corporate Governance Communities Media Industry Peers Academic Organisations Trade Associations/ NGOs
RkJQdWJsaXNoZXIy NDgzMzc=