147 ANNUAL REPORT 2022 OUR CAPITALS INTELLECTUAL CAPITAL MATERIAL TOPIC: CYBERSECURITY DEFINITION OF MATERIAL TOPIC Ensuring digital systems and assets are safeguarded against external cyber threats. IMPACTS S1 S2 S3 S4 S5 S6 S7 S9 S10 GS1 GS2 WHY IS THIS TOPIC MATERIAL TO US? As Yinson continues to enhance our systems and processes through digitalisation and technology, we become increasingly reliant on data, much of which are proprietary and confidential, and which are being stored and processed in an electronic format. This drives the need for robust cybersecurity. Any intrusion into Yinson’s digital systems could affect our business activities and potentially result in financial losses, theft of proprietary and/or confidential information, loss of competitiveness and/or business interruption and reputational damage. RISKS • Reputational risks may arise from social data leaks, especially for companies that provide B2C products and services. • Cyberattacks may lead to operational issues such as assets being frozen, leading to downtime. • Costs of handling and recovering from cyberattacks are significant and may have great impact on an affected company financially and reputationally. • Platform concentration risk may arise for businesses that depend too heavily on a single data storage platform. OPPORTUNITIES • Businesses that are able to stay ahead of rapidly evolving cybersecurity threats with strong cybersecurity expertise and practises can provide confidence for the business to grow without undue worry of potential external threats. • The ability to manage cybersecurity risks well can raise stakeholder confidence and mark a company as a partner of choice, as there is assurance that information shared during the course of doing business is secure. Management approach In response to cybercriminals’ increased attacks on Information Technology, Operational Technology and Industrial Control Systems, Yinson is working actively to ensure that we are well prepared to manage these risks. Yinson’s Cyber Risk Management Roadmap consists of multiple initiatives which will strengthen the cybersecurity system within the Group. Steps taken include actively training our people, updating our processes to be more relevant and putting in relevant technology that can help us reduce our cyber risks. Achieving and maintaining the cybersecurity of our offshore assets have been a continual effort, carried out through a combination of active internal training, updating our processes to be more relevant and putting in applicable technologies that can help us to reduce our cyber risks adequately. Information security & cybersecurity, pg 74 MI2
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