123 SUSTAINABILITY REVIEW EMBRACING GOOD CORPORATE GOVERNANCE DIGITALISATION DEFINITION OF MATERIAL TOPIC Integrating digital solutions into business processes and operations to optimise business growth in line with technology. MG6 IMPACTS GS1 GS2 GS3 GS4 GS5 GS6 S9 S10 S7 S2 S1 S4 S3 S6 Why is this topic material to us? The rapid advancement of technology is a major driving force in today’s business landscape. To maintain our position as leaders in our industry, we must leverage on emerging technologies and innovative digital tools to facilitate growth across our business units. Our investment decisions are guided by careful strategies that consider how technology impacts our productivity, asset lifecycles, potential scale-up and long-term business sustainability. With digital technologies and solutions, we can increase process efficiencies, reduce human errors and have better control over our business operations. Management approach Group Strategic IT Roadmap Yinson developed its Group Strategic IT Roadmap which aligns with Group-wide IT project goals in three key business objectives: • Running operations • Support growth projects • Digital transformation and innovation The roadmap was established after in-depth engagements were held across all business units and functions. These sessions focused on developing continuous partnerships and strengthening the business, to ensure that contributions by the global IT team would add value to the business. Digitalisation efforts encompass all business units and functions within the Group, which are centrally supported by the global IT team. The team is led by the Group CIO who oversees various IT group functions that are undertaken by dedicated teams across our various offices. Our digitalisation initiatives are executed through six core IT Group Functions supported by the business unit IT operations teams: • Strategic IT Delivery • IT Governance and Global IT Operations • Enterprise/Hybrid Infrastructure and Network • Corporate IT • Information Technology/Operational Technology Security • Data and Analytics In 2022, Yinson improved its business processes via digitalisation across its business units and functions with the support of the global IT team. Below are some of the initiatives conducted during the year: • Implemented Connectivity Solution and Interest Enhancement Facility. These corporate treasury solutions helped to enhance the Group’s financial governance, improve decision-making processes and boost connectivity between the various offices and our stakeholders. • Made progress on ESG and supplier compliance through the upgrading of our VRP to ensure suppliers adhere to global compliance standards. • Implemented the remaining modules in our Global HRIS. • Advanced our digital twin initiative towards the realisation of fully automated FPSO solutions. • Improved digitalised processes like automating the user review process for our internal file systems and global travel request approvals. • Engaged an experienced Group CIO and allocated more resources to enable the IT team to fulfil their duties. Our IT team conducts yearly strategic alignment touchpoints with business stakeholders and monthly stakeholder meetings to facilitate Demand Management of the IT team’s projects. The Group CIO also attends monthly meetings with business unit CEOs to inform them of the progress of deliverables and to ensure that Yinson’s business needs are in line with its IT projects.
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