10 YINSON HOLDINGS BERHAD ABOUT THIS REPORT ABOUT THIS REPORT In this year’s Report, our Senior Management team provides greater insights within the ‘Strategy & Outlook’ section and into their thought processes behind decisions made to build our key pillars. We also focused on improving connectivity by aligning disclosures on our Capitals to our refreshed material topics in order to create greater clarity on how we manage our risks and opportunities in light of the ever-changing external environment. Overall, the Report details our efforts to create value for all our stakeholder groups across our value chain. We hope that the improvement in our disclosures will help you gain a greater understanding of our business, allowing you to make informed decisions about the Group. SCOPE AND BOUNDARY The scope of this Report includes Yinson Holdings Berhad (“Yinson” or “the Company”) and its subsidiaries (“the Group”). The Report covers the financial reporting period from 1 February 2021 to 31 January 2022 (“FYE 2022”) unless stated otherwise. Please note that share price within this Report are before adjustment for the Bonus Issue, unless stated otherwise. REPORTING FRAMEWORK In compiling this Report, we have considered the following frameworks and guidelines: • International Integrated Reporting Framework (2021) (“<IR> Framework”). • Bursa Malaysia Securities Berhad (“Bursa Securities”) Main Market Listing Requirements (“MMLR”), Sustainability Reporting Guidelines, Sustainability Reporting Toolkit (2nd edition, with inclusion of TCFD guidelines and Corporate Governance Guide (4th edition). • Malaysian Code on Corporate Governance 2021 (“MCCG”). • International Petroleum Industry Environmental Conservation Association’s (“IPIECA”) Oil and Gas Industry Guidance on Voluntary Sustainability Reporting. • Industry best practices where relevant. This Report has been prepared in accordance with the GRI Standards: Core option. OUR REPORTING SUITES This Report should be read in conjunction with the other reports in Yinson’s Annual Report Suite for a comprehensive account of our value creation process. The suite consists of: • Integrated Annual Report 2022: Purpose Driven (available at ar.yinson.com/2022 or hardcopy by request). • Corporate Governance Report 2022 (available at yinson.com/cg-report). • Yinson’s Climate Report (available at yinson.com/tcfd). • Yinson’s Climate Goals Roadmap (available at yinson.com/our-climate-goals). MATERIALITY The principle of materiality has been applied in assessing and deciding on the disclosures and content of this Report. A topic is considered material if it could substantively influence the decisions of the Group and its stakeholders, affecting our ability to create value over the short, medium and long-term. This Report considers both qualitative and quantitative matters that are material to our business and strategic objectives, which may influence our stakeholders’ decision-making. In FYE 2022, we performed a refresh of our materiality assessment as part of our ongoing efforts to ensure that we continuously operate in line with stakeholders’ expectations. We constantly engage with our stakeholders both internally and externally to identify topics of concern covering economic, environmental, social and governance (“ESG”) aspects. We used the feedback of the stakeholder engagement to prioritise new focus areas and identify areas of improvement. ASSURANCE PricewaterhouseCoopers PLT (“PwC”), the external auditors, provided an independent opinion on whether the Financial Statements of the Group in this Report gave a true and fair view of the consolidated financial position, financial performance and cash flows for FYE 2022. As required by Paragraph 15.23 of the Bursa Securities MMLR, PwC also reviewed the Statement on Risk Management and Internal Control (“SORMIC”) included in this Report. Their limited assurance review was performed in accordance with the Malaysian Institute of Accountants’ Audit and Assurance Practice Guide (“AAPG”) 3. AAPG 3 does not require the external auditors to form an opinion on the adequacy and effectiveness of the risk management and internal control systems of the Group. Yinson is pleased to present our Annual Report for the Financial Year Ended 31 January 2022. In this Report, we aim to provide a concise and transparent overview of our ability to create sustainable value for our stakeholders.
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