151 GOVERNANCE CORPORATE GOVERNANCE OVERVIEW STATEMENT Who are they? These are the communities in the local areas where we operate. Yinson’s value proposition • Sustainable operations driven by safety and environmental excellence. • Socio-economic contributions for social and community developments. • Energy security. CSR activities As a global organisation whose operations touch the lives of individuals all over the world, we are committed to good corporate citizenship in every community we operate in. A key consideration that we take when shaping our plans and strategies are the impacts that we can have in the local communities where we operate. Key areas of concern & Yinson’s response Stakeholder importance As a responsible corporate citizen, it is vital to understand our host communities’ concerns to cultivate long-term and mutual trust. Frequency and methods of engagement • Daily: Yinson website and social media. • Regularly: CSR activities, engagement with local vendors, local trainee programmes, press releases, community development programmes. S8 LOCAL COMMUNITIES Mutual value creation Forming alliances with reliable business partners has been a key success for Yinson, enabling us to increase our access to capital and strengthen our bidding capabilities. This has allowed the Group to bid for larger contracts and venture into new regions. ‘Operational excellence’ and ‘Contractual obligations are met’ are key areas of concern for our partners and shared areas of concern with our clients. See ‘Clients’ section for Yinson’s response. PARTNERS Who are they? These are Yinson’s business partners who own equity in our assets and projects. Yinson’s value proposition • Knowledge, expertise, and experience in the delivery of responsible energy solutions. • Disciplined business and financial management. • Collaborative, innovative, and tailored solutions to capitalise on market growth. Key areas of concern & Yinson’s response Stakeholder importance Long-term strategic partnerships to leverage each other’s unique strengths for sustainable growth and continuous value creation. Frequency and methods of engagement • Daily: Regular engagement, communication and dialogue. • Regularly: Site visits, stakeholder engagement events, collaboration on announcements and press releases. S9 Who are they? These are the individuals and companies that Yinson engages with to deliver products, services and commitments. Yinson’s value proposition • Cooperate and collaborate to unlock new value and innovations. • Advocacy and engagement on ESG and sustainability matters. ‘Financial performance’ is a key area of concern for our vendors and suppliers and a shared area of concern with our bankers & lenders. See ‘Bankers & Lenders’ section for Yinson’s response. Key areas of concern & Yinson’s response Stakeholder importance We engage with vendors and suppliers who deliver high-quality goods and services to facilitate Yinson’s value creation. Frequency and methods of engagement • Daily: Yinson website and social media, regular engagement, communication and dialogue. • Regularly: Supplier and industry conferences. • Based on need: Tenders and requests for proposals, site visits, vendor audits, VRP. S10 VENDORS & SUPPLIERS
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