76 YINSON HOLDINGS BERHAD STRATEGY & OUTLOOK CORPORATE COMPLIANCE REVIEW Human & Labour Rights We are cognisant that HLR non-compliances may have repercussions that could severely impact Yinson’s capacity to conduct its global operations. In addition to the punitive sanctions imposed by governing bodies, stakeholders’ confidence in Yinson could be diminished if HLR is not properly managed, which could result in an ESG trust deficit. Our HLR Policy affirms our commitment to international human rights principles and we continue to implement Group-wide measures to prevent and remedy violations of HLR where identified. We are currently enhancing our HLR training programmes to increase awareness of this important issue. Yinson strongly advocates avoiding any form of forced labour and child labour practices and will not condone any third party who adopts such practices. Yinson enforces HLR expectations to our third parties as part of the due diligence processes. Sanctions Yinson’s Sanction Policy serves as a guide to all working for or with Yinson to understand where breaches of sanctions requirements might arise and guide them in making the right decisions in line with the Policy. We enforced due diligence on vendors to be conducted during onboarding to ensure that they have no relationship or business in a sanctioned country that could potentially led to a violation. We also ensure that regular communication on sanctions and compliance issues are properly disseminated in order to create a global sanctions and compliance culture in Yinson. Establishing good corporate compliance structures & processes A robust corporate compliance structure and well-managed processes are crucial enablers for our employees, third parties and other stakeholders to gain awareness and run their business activities in a compliant manner. Our corporate governance practises are supported by continually enhanced policies and procedures, with oversight from our Board and managed by specialised teams within Yinson. Examples of how Yinson manages HLR, sanctions and whistleblowing are highlighted below, and further within the Intellectual Capital chapter in this Report. Good corporate governance, pg 145 Scan the QR code for more information on whistleblowing at Yinson Whistleblowing Yinson encourages all stakeholders including business partners, general public, employees, third parties and vendors to raise genuine concerns about suspected or possible violations of Yinson’s COBE, improprieties in matters of financial reporting, non-compliances with laws and regulations, non-compliance with Yinson’s policies and procedures and to disclose any improper conduct or other malpractices with Yinson without fear of unfair treatment or reprisal. The Incident Report will be submitted to the Audit Committee Chairman (a non-executive board member) who will review and evaluate the Incident Report in an independent, fair and unbiased manner with respect to all parties involved. Whistleblowing reporting process 1. Report alleged misconduct through any of the channels. 2. Report details with the option of being anonymous. 3. Initial investigation launched. 4. Incident Report prepared for Audit Committee Chairperson, who is the senior independent, non-executive director. 5. AC Chairperson to review and decide on outcome. 6. Communicate outcome to the whistleblower. Whistleblowing channels and information can be found on Yinson’s website, YNet and common areas in Yinson’s office premises. Whistleblow at Phone : +60111-662 2738 Email : whistleblow@yinson.com (Whistleblows in other languages will also be accepted)
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