145 ANNUAL REPORT 2022 OUR CAPITALS INTELLECTUAL CAPITAL MATERIAL TOPIC: GOOD CORPORATE GOVERNANCE DEFINITION OF MATERIAL TOPIC Upholding of business policies and processes to be a responsible and ethical corporate citizen. IMPACTS S1 S2 S3 S4 S5 S6 S7 S8 S9 S10 GS1 GS3 GS5 WHY IS THIS TOPIC MATERIAL TO US? Yinson is committed to high standards of integrity and ethics in the conduct of our business. Corporate governance involves balancing the interests of our many stakeholders and provides the framework for attaining of our objectives encompassing every sphere of management, from action plans and internal controls to performance management and corporate disclosures. Thus it is crucial to the mitigation of risks in all areas of our business. Our Board continues to provide prudent leadership and strategic guidance to safeguard stakeholder value creation with robust governance framework and effective control systems. RISKS • Poor corporate governance could lead to reputational risks, including loss of public trust and investor/shareholder confidence. • Poor management of corporate governance risks could have significant negative impact to business operations and profitability. • Long-term business sustainability may be affected by weak corporate governance practises. • Overextension of corporate governance procedures could lead to bureaucracy issues or slower decision-making. OPPORTUNITIES • Checks and balances arising from good corporate governance practises enable the robust and appropriate control and oversight of the business. • Robust governance controls in operations can improve external confidence, leading to positive financial and reputational impacts. • Transparency of corporate governance practices can facilitate trust building amongst all stakeholders and boost shareholder confidence. Management approach Policies, procedures & frameworks Yinson embeds world class business practices and a robust corporate governance and risk framework with key focus on transparency, accountability, effective leadership, and sustainable performance. We are committed to continuously reviewing, enhancing, and improving our governance practices and frameworks towards ensuring the best interests of our stakeholders are upheld. Our corporate governance practices are guided by policies and procedures including: • Corporate Disclosure Policy & Procedure. • Stakeholder Communication Policy & Procedure. • Data Privacy & Procedure. • Information Security Policy & Procedure. • Sanction Policy. Scan this QR code for our full list of publicly available policies Training & awareness Yinson continues to provide training and guidance to ensure ethical decision-making. We roll out awareness training through a combination of training methods, including the following methods carried out in FYE 2022: • Mandatory employee ABAC training on our LMS. • C ertified training for DPOs to enhance knowledge on data privacy laws, who were then empowered to roll out awareness trainings in the local offices. • A wareness webinars on Information Security for employees. • M onthly legal awareness webinars conducted by in-house legal team. Corporate Compliance Review, pg 76; Legal & Insurance Review, pg 78 MI1
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