1 MATERIALITY We have applied the principle of materiality in the areas of disclosure and content of this Report. A topic is considered material if it substantially influences the decision-making process and decisions of the Group and its stakeholders, and these decisions in turn affect our ability to create value over the short, medium and long term. This Report has recognised both qualitative and quantitative matters that are material to our business and strategic objectives as it has considered factors that may impact the decision-making processes of our stakeholders. In managing our stakeholders’ expectations, we reviewed our material matters through a desktop validation against local, regional and global industry peers as well as international reporting frameworks to ensure that our material matters are up to date. We found that our material matters were current and still relevant to our ability to understand and address the environmental, social and governance (“ESG”) issues that affect our business and stakeholders. ASSURANCE We have engaged PricewaterhouseCoopers PLT (“PwC”) as our external auditors, whereby they are responsible for providing an independent opinion on the Group’s Financial Statements and whether these Financial Statements give a true and fair view of FYE 2023’s consolidated financial position, financial performance and cash flows. PwC was also engaged to review the Statement on Risk Management & Internal Control (“SORMIC”) included in this Report, as part of the requirements of Paragraph 15.23 of the Bursa Securities MMLR. In accordance with the Malaysian Institute of Accountants’ Audit and Assurance Practice Guide (AAPG) 3, PwC has performed their limited assurance review without the requirement of forming an opinion on the adequacy and effectiveness of the Group’s risk management and internal control systems. FORWARD-LOOKING STATEMENTS This Report contains certain forward-looking statements with respect to Yinson’s financial position, results, operations and businesses, which we believe to be realistic at the time this Report is issued. These statements may involve risk and uncertainty as they relate to events and depend on circumstances that occur in the future. There are various factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. STATEMENT OF THE BOARD OF DIRECTORS Yinson’s Board of Directors (“Board”) acknowledges its responsibility for ensuring the integrity of this Report, which in its opinion addresses all the issues that are material to the Group’s ability to create value and fairly presents the integrated performance of Yinson. The Board has applied its collective mind to the preparation and presentation of this Report and believes that it has been prepared in accordance with the <IR> Framework and addresses all material issues. The Board confirms that it has approved the release of this Report. BASIS OF THIS REPORT Capitals Financial Capital C1 Manufactured Capital C2 Intellectual Capital C3 Human Capital C4 Social & Relationships Capital C5 Natural Capital C6 Stakeholder groups Bankers & lenders S1 Clients S2 Crew S3 Employees S4 Governments & regulatory bodies S5 Industry S6 Investors & shareholders S7 Local communities S8 Partners S9 Vendors & suppliers S10 Material topics Climate Change & GHG Emissions Community Engagement Business Management & Profitability Business Model Innovation Good Corporate Governance Waste & Pollution Management Environmental Stewardship Human Capital Development Operational Health & Safety Human & Labour Rights Client Relationships ME1 MS5 MG1 MG2 MG3 Cybersecurity Digitalisation MG5 MG6 Sustainable Supply Chain Management MG4 ME2 ME3 MS1 MS2 MS3 MS4 Group strategies Build a platform for growth GS5 Empower decision-making GS6 Operationalise ESG GS1 Forefront of innovation & disruption GS2 Create sustainable shareholder value GS3 Tactical financial management GS4 Business units Yinson Production Yinson Renewables Yinson GreenTech YGT Regulus Offshore RO LEGENDS Please refer to the following icons that are used to link our capitals, group strategies, stakeholder groups, business units and material matters. Points to related sections within this Report YP YR
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