30 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 DELIVERING VALUE In FYE 2023, the Group delivered a strong set of financial results, recording higher revenue of RM6.3 billion (FYE 2022: RM3.6 billion) mainly driven by FPSO Maria Quitéria and FPSO Atlanta, which commenced Engineering, Procurement, Construction, Installation & Commissioning (“EPCIC”) business activities in the current financial year. Correspondingly, PAT was RM588 million, an increase of 12.2% over FYE 2022. We have distributed RM29 million in dividends for FYE 2023, representing 1.0 sen per ordinary share declared for FYE 2023. Including the final dividend of 2.0 sen per ordinary share in respect of FYE 2022 paid in the current financial year, the total distribution to shareholders in FYE 2023 amounted to RM87 million. In addition, we have recommended a final dividend of 1.0 sen per ordinary share for FYE 2023 for shareholders’ approval at the forthcoming 30th Annual General Meeting (“AGM”). GOVERNANCE At Yinson, we continuously strive to improve our corporate governance standards through a strong commitment to ethics and integrity, exercising discipline in our risk management and sustainability practices while enhancing the quality of our disclosures. In the year under review, we updated the Board Charter to recognise the renaming of the Board Risk Management Committee (“BRMC”) to the Board Risk and Sustainability Committee (“BRSC”). This change further institutionalises and reinforces the management and oversight of sustainability in Yinson at Board-level. In the context of anti-bribery and anti-corruption, we enabled self-paced learning on Yinson’s Learning Management System (“LMS”) and translated our Anti-Bribery and Anti-Corruption (“ABAC”) Policy and Procedure Guide and other compliance-related policies and procedures to Portuguese, in line with our growth in Brazil. Additionally, both YHB and YP underwent their first Anti-Bribery Management System (“ABMS”) Surveillance Audit for the ISO 37001:2016 and received commendable feedback on the implementation of the system from Bureau Veritas, the external certification body. From a risk management perspective, we developed the climate risk and unique risk profiles for YGT and YP and appointed Risk Coordinators for key business units. In addition, the risk management database was digitalised to enable a single risk repository system which consolidates the risk data at a single source, with enhanced risk dashboard reporting. Yinson’s commitment to governance best practices has been recognised this year through a range of awards, such as the Industry Excellence Award under the energy sector at the MSWG-ASEAN Corporate Governance Award and two awards at the Global Good Governance Awards for Leadership in Sustainability and Excellence in Green Innovation and Solutions. For our dedication to balanced and transparent reporting, Yinson’s Annual Report won silver at both the Australasian Reporting Awards and the 7th Asia Integrated Reporting Awards. SUSTAINABILITY AT OUR CORE Yinson continues to make significant progress in building the sustainability of our business, aligning our decisionmaking, strategies and actions with our unyielding mission of making inclusive, community-focused ESG decisions. In this context, we are injecting urgency into our climate action. We joined the UNGC as a signatory member, further affirming our commitment to improving our environmental, labour and human rights and anti-corruption performance. Yinson was one of 15 companies to successfully participate in Bursa Malaysia’s inaugural Voluntary Carbon Market. We believe that putting a value on carbon is a step in the right direction for Malaysia as this can spur market players to more effectively manage their carbon footprint. We will continue to support the Voluntary Carbon Market and will participate in the development of its ecosystem. Our sustainability performance has earned us commendable ESG ratings. We were awarded ‘ESG Industry Top Rated Company’ by Sustainalytics, following a significant improvement in our performance in 2022 that placed us in the 2nd percentile of global energy companies. We also achieved a marked improvement in our ratings with FTSE4Good in 2022 to be placed among the top 25% of public listed companies (“PLCs”) on the FBM EMAS. These achievements were accompanied by a number of awards, such as ‘Gold’ at The Edge ESG Awards and ‘Pioneer in Sustainable Development Action’ recognition from UNGC Malaysia and Brunei. During the year under review, we continued to participate in corporate social responsibility (“CSR”) initiatives that empower communities and conserve the environment, guided by the nine SDGs that we align with as a Group. Under the Yinson Scholars Programme in Ghana, which has been ongoing since 2019, we doubled our scholarship recipients from 10 students to 20 students annually in 2022 and extended the programme to include undergraduate scholarships. Since inception, this programme has provided scholarships to 60 Senior High School students and five undergraduate students from low-income families. CHAIRMAN STATEMENT
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