MISC BERHAD 48 INTEGRATED ANNUAL REPORT 2023 49 www.miscgroup.com VALUE WE CREATE SECTION 5 Stakeholder engagement is pivotal for MISC as they help shape our business landscape. At the same time, we value their feedback and expectations as this contributes towards creating mutually-beneficial relationships, allowing us to serve them better. Guided by our stakeholder engagement strategy and principles, we have dedicated our efforts to creating value for our stakeholders through regular engagements, awareness programmes, dialogue and collaboration activities. This allows us to build meaningful relationships and work collaboratively with our stakeholders to secure a sustainable future. We collaborate closely with the key stakeholders mentioned below. Nevertheless, there are additional stakeholders, such as trade associations, NGOs, industry peers, academic organisations and media with whom, when necessary, we use a more tailored engagement approach. Engaging with Stakeholders Engaging with Stakeholders NAVIGATION ICON Weekly W Annually A Daily D Bi-Annually BA Quarterly Q Monthly M As required AR Stakeholders Key Concerns Responses Value Created for Stakeholders Engagement Platform and Frequency Government/Regulators We engage with key government and regulatory agencies to forge stronger ties, keep us informed on potential regulations that may impact the industry, gaining valuable insights into new regulatory developments. • Compliance with laws and regulations • Introduction of future laws and regulations • Crisis management and business continuity • Development of talent and job opportunities • Corruption and bribery • Collaborate with regulators to ensure compliance with laws and regulations • Engage with regulators to provide feedback on proposed laws and regulations • Collaborate with authorities on emergency response and preparedness • Collaborate on maritime academy syllabus to nurture and develop seafarers in line with the nation’s maritime vision • Provide job opportunities and development of local talents • Participate in the Maritime Anti-Corruption Network (MACN) to combat corruption in the maritime industry • Implement the Code of Business Ethics (CoBE) for employees and third parties • Supported the government’s agenda in promoting innovation and sustainable growth of the maritime industry • Sustained MISC’s license to operate Shareholders/Investors/ Financial Services Providers Shareholders, investors and financial service providers, strengthen our financial performance by providing access to financial capital. Continuous engagement with them helps align with our long-term strategic business priorities and understand emerging trends in financial markets. • Projects and financial performance • Values and governance • Climate change • Diversity and inclusion • ESG risks, opportunities and performance • Ensure strong governance in projects and financial management • Establish strong governance policies and procedures • Improve awareness on business ethics and whistleblowing processes • Participate in the Getting to Zero Coalition by collaborating with strategic partners along the value chain to develop commercially viable ZEVs by 2030 • Fleet renewal to low-carbon fuel and energy-efficient vessels • Develop and implement diversity and inclusion policy • Establish strong sustainability practices and regularly disclosing performance • Participate in third-party ESG performance ratings • Incorporate ESG risks and opportunities into business decisions • Provided platforms to better understand MISC’s business performance, financial position and sustainability agenda • Increased shareholders/investors’ confidence • Improved access to debt funding for CAPEX Customers Customer engagement is critical for our success. We maintain trust, loyalty and confidence in our products, services and solutions. We also work on improving customer experience and creating value to build confidence in our brand name, drive growth and achieve our sustainability goals. • Crisis management and business continuity • Values and governance • Business Experience • Supply Chain Management • Climate change • Health and Safety • Labour and human rights • Drive close engagement with customers to brief them on our business continuity plan to ensure minimal interruption to customer operations • Ensure strong governance in project management • Improve business ethics awareness and whistleblowing processes • Implement upskilling and reskilling initiatives for employees to provide niche expertise for maritime services • Enhance awareness and conduct ESG assurance along the supply chain • Ensure fleet renewal to low-carbon fuel and energy-efficient vessels • Implement high health and safety standards • Establish the MISC Modern Slavery Policy and CoBE for employees and third-parties • Conduct Human Rights Risk Assessments (HRRA) and due diligence on material human rights matters • Increased confidence in MISC’s capabilities in delivering quality and sustainable products and services Engagement Platform Frequency Investor and analyst meetings Meetings and conferences Annual Reports and Annual General Meeting Bursa Malaysia announcements Company website AR Q Q A AR A A AR Q Engagement Platform Frequency Conferences, exhibitions and forums with customers Customer appreciation programmes Workshops/seminars Site visits and meetings Satisfaction survey A A AR A AR AR M W AR Engagement Platform Frequency Reporting to relevant agencies Face-to-face meetings Forums and conferences Visits and briefings with Ministry/agencies/regulators Strategic partnerships AR AR AR A AR A AR Key Capitals Social & Relationship Capital SR Natural Capital N Key Capitals Financial Capital F Key Capitals Social & Relationship Capital SR Intellectual Capital I Physical Capital P
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