MISC BERHAD 92 INTEGRATED ANNUAL REPORT 2023 93 www.miscgroup.com BUSINESS REVIEW SECTION 7 Mohd Denny Mohd Isa Managing Director & CEO, MISC Maritime Services Sdn. Bhd. Captain Peter Liew Guan Hock Managing Director/CEO, Eaglestar Marine Holdings (L) Pte. Ltd. Marine Services WHAT WE DO MMS offers comprehensive maritime services across Terengganu, Melaka, Sabah and Sarawak. Our services include pilotage, loading master services, marine controller support for oil and gas offshore operations and straits pilotage for VLCCs in the Straits of Malacca and Singapore (SOMS). We also specialise in port engineering and maintenance, covering jetty and single point mooring (SPM) upkeep, SPM refurbishment and dredging. Our marine consultancy and assurance services are provided by accredited inspectors, with a primary focus on the Ship Inspection Report Programme (SIRE) and Offshore Vessel Inspection Database (OVID), serving major oil and gas companies. With a track record spanning over three decades, we have built extensive capabilities and an experienced team. Eaglestar provides a wide array of integrated marine services, encompassing fleet and crew management, dry-docking and project management for newbuild construction and conversion projects. We manage a modern and diverse fleet of vessels, supported by a team of highly skilled, competent and dedicated professionals. Our vision is to consistently deliver superior energy-related maritime solutions, extending our services beyond the MISC Group of Companies. Committed to safety and efficiency, we handle the management of vessels transporting energy or cargo globally. Our expertise covers the entire lifecycle of commercial vessels, dealing with a variety of oil and gas cargoes. In 2023, MISC embarked on a transformative journey in its marine services business. The Board of Directors sanctioned the integration of Port Management & Maritime Services and Integrated Marine Services into a unified segment, Marine Services, as part of the Group’s strategic MISC 2030 Aspiration. This strategic move, opens up exciting opportunities. It will spur us in building greater synergy, enhancing our capabilities, delivering quality services and forging stronger alliances. Throughout the year, MISC Maritime Services Sdn. Bhd. (MMS) and Eaglestar Marine Holdings (L) Pte. Ltd. (Eaglestar) have broadened our service spectrum and ventured into new markets. We have successfully secured new contracts for shipbuilding supervisory and project management team services, reinforcing our standing as a reliable industry service provider. We continued to prioritise operational excellence and environmental responsibility, aligning with regulatory standards and maintaining our industry leadership. Looking ahead, this unification aims to effectively meet our clients’ and partners’ diverse needs, given the maritime industry’s evolving dynamics and challenges. Currently in its execution stage, this integration is expected to position the Group to adeptly navigate future industry shifts and seize emerging opportunities. This step is crucial in our journey to decarbonise our operations and contribute to a just energy transition. Focus Area What We Did in 2023 Business Portfolio Expansion Expanded service offerings • Expanded maritime services to secure new revenue streams • Penetrated the SPM refurbishment services • Secured Marine Advisor licenses • Secured strategic partnerships with regional players in the maritime services to explore business opportunities • Established pathway to penetrate the Indonesian market and the region • Successfully completed SPM refurbishment project for PETRONAS Carigali Sdn. Bhd. (PCSB) Contributing to Maritime Growth Knowledge sharing • Organised conferences and thought leadership sessions • Hosted the first Port and Maritime Exchange 2023 (POMEX23) for industry discussions and collaborations, attended by over 200 participants from local and international organisations KEY FOCUS AREAS AND RESULTS Marine Services MMS – Port Management & Maritime Services Results Eaglestar – Integrated Marine Services Service and Operational Excellence Expanded service offerings • Identified new growth opportunities, regionally and internationally • Secured first external ship management contract and multiple external newbuild project management contracts • Established operations in new regions • Continued to provide newbuilding project management services for 12 vessels to QatarEnergy and two vessels to SRM Harnessing Technology and Digitalisation Embrace new technologies • Delivered technical services to Petroleum & Product Shipping and Gas Assets & Solutions segments • 55 vessels completed the installation of ShaPoLi system Enhance Capability Building Workforce upskilling • Launched skill transformation initiatives for seafarers to operate current and future vessel types • Obtained approvals from the Marine Department Malaysia (MARDEP) for ALAM to drive the International Code of Safety for Ship Using Gases or Other Low-flashpoint Fuels (IGF Code) certification training for LNG and ammonia Towards Decarbonisation Promoted energy-efficient solutions • Collaborated with industry leaders in the Castor Initiative for decarbonisation and align closer with global environmental standards • Developed training modules with maritime institutes for future-ready seafarers Focus Area What We Did in 2023 Results
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