143 ANNUAL REPORT 2022 OUR CAPITALS MANUFACTURED CAPITAL Yinson GreenTech • Identify and invest in strategic green technology assets within the marine, mobility and energy segments. • Contribute to building a green ecosystem in the geographical areas where the Group currently has a presence. • R elentlessly drive innovation in line with government incentives and industry trends. Regulus Offshore • P articipate in the Asia Pacific region bids with a focus on the Malaysian market to support PETRONAS and Petroleum Arrangement Contractors. • S ecure quality and long-term projects that can bring stable cash flow. Increasing our portfolio of profitable assets, pg 103; Market positioning, pg 109; Market selection, pg 109; Project selection & local partners, pg 109; Strategic green technology investments, pg 115; Malaysia operations update, pg 117 Delivering quality assets with value add ‘Professional and skilled project management team’ is a Yinson Edge, where we believe we have an edge over the competition. Guided by our Project Management Philosophy, Yinson Production has an excellent track record of delivering our offshore production assets on time, on budget and in line with client expectations. Now having diversified into Renewables and Green Technologies, the same culture of excellence and reliability translates into the delivery of our renewables and green technology assets. We believe in adding value to our assets through innovation and digitalisation. For example, we are pioneering the technologies of our Zero Emissions FPSO concept, which goes beyond the scope of traditional FPSO design. In another example, we are working with strategic and technology partners to develop an integrated green marine transport solution which combines advanced hydrofoil technology, swappable battery solutions and a digital platform for monitoring, control and analytics. Yinson’s management approach for the delivery of our assets includes: • Cultivating open and honest relationships with our clients and stakeholders which are built on trust. • Creating and maintaining a sustainable, agile and effective project management structure and team to manage changing project requirements, leveraging on Yinson’s diverse expertise. • Ensuring quality through effective equipment, vendor and service provider selection. • Increasing focus on embracing the energy transition, utilising Yinson’s core competencies to develop affordable, low carbon energy solutions. Leading the way with responsible solutions, pg 103; Excellent project execution to support reputation, pg 103; Building a strong leadership team, skilled workforce & organisational culture; pg 104; Building the platform to create value, pg 109; Driving innovation in line with government incentives & industry trends, pg 115 Safe & reliable asset operations with value add Yinson’s high standards of operational excellence guide the management of our assets in the operational phase of their lifecycle. These standards are supported by effective risk management, quality assurance and continuous improvement. We also look to enhance the value of our operational assets through innovation and digitalisation, such as the 3D printing and drone-assisted technologies developed by our ALM team, and the development of an integrated digital platform for Yinson GreenTech’s mobility segment. Yinson’s management approach for the operations of our assets includes: • H ealth & safety: We are committed to safeguarding the health, safety and security of our employees, subcontractors and assets, as well as continually adapting to Covid-19 risk. • O perational performance: We strive to maintain excellent fleet uptime, stable renewable energy generation, reliable performance of green technology assets and strong fleet utilisation. • E nvironmental performance: We seek to lower our environmental impact across all our business divisions through monitoring and managing our environmental outputs. Investing in emerging technologies & digitalisation, pg 44; Environmental performance, pg 101; Industry-leading operations & safety performance, pg 103; Human capital development, pg 151
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