119 SUSTAINABILITY REVIEW Intellectual property We are aware that Intellectual Property (“IP”) is a valuable company asset. To enhance our IP management, we are developing a Group-wide IP Strategy and Management Plan which includes: • Training and awareness initiatives. • Identification, consolidation and review of all current and new IPs. • Developing a management team to oversee IP matters. • Establishing IP valuation and commercialisation strategies. Personal data protection As an international organisation, it is our duty to adhere to various legal regulations that govern the management and protection of personal data. We are committed to safeguarding the personal rights and privacy of all data entrusted to us to build trust in our relationships with our customers and stakeholders. We have strict requirements in place for processing the personal data of employees and external parties. Our policy sets global standards in data protection and security to regulate the sharing of information with Yinson. Our employees are mandated to comply with the Data Privacy Policy and data protection laws. In 2022, we initiated the following initiatives through the engagement of General Data Protection Regulations (“GDPR”) external consultants: • We are in the midst of conducting a full audit of the HR Function to ensure compliance. As of the time of reporting, the auditing exercise is ongoing. • Developing a set of Standard Contractual Clauses (SSC) as a model data transfer mechanism to help controllers and processes legally support data transfers to third-party countries. This will enable us to transmit personal data independently between Yinson EU offices and non-EU offices within the Group. • We recruited a GDPR manager to exclusively manage all GDPR initiatives, implementation and processes in the EU. Going forward, we will include the revised structure and new privacy committee in our Group Policy, highlighting the various Data Protection Officers across the Group, to bolster the Group’s privacy management function. Disclosure standards Yinson strives to adhere to the highest standards of corporate governance to provide disclosures that are clear, complete and accurate. Our Corporate Disclosure Policy & Procedure adopts the mandatory requirements set out in the Bursa Securities MMLR including recommendations from Bursa Securities’ Corporate Disclosure Guide. Additionally, we are committed to establishing and maintaining communication channels to facilitate ongoing dialogues and to provide timely and accurate material information to our stakeholders via shareholder meetings, briefings, press releases, our corporate website, corporate emails and digital media. This Integrated Annual Report is a key disclosure document which adheres to frameworks, guidelines and standards which are specified in the ‘Basis of this Report’ section. EMBRACING GOOD CORPORATE GOVERNANCE
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