66 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2023 STRATEGY REVIEW GS6 Empower decision-making The strengthening of decision-making autonomy at business unit level as recommended by the GSR fits perfectly with the aspirations of this strategy to empower our businesses and employees. Our business units can now make better decisions faster, which will enable us to capture more opportunities. For example, this shift supports the growth of YGT, which is an industry that moves rapidly, in line with the ever-evolving nature of green technologies and innovations. It is a business that cannot be held back by processes that may be necessary for the capex-heavy FPSO business. In conjunction with the reinforced corporate teams at business unit level, we are optimistic that we can quickly grow our businesses, secure new projects and partnerships and move in an agile way to keep up with the changing external environment. We also understand that we are now in the transition phase of this move and we are cognisant that decision-making must be carefully carried out, in consultation with all stakeholders, to obtain the best outcomes. More broadly, we empower decision-making by facilitating access to accurate information more quickly. This is where digitalisation, technology and innovation play an important role. In the year under review, under the purview of a strengthened global Information Technology (“IT”) team, we implemented a Group Strategic IT Roadmap. The Roadmap brings together six focus areas to support Group-wide operations, project execution and digital transformation. Across the Group, departments are taking ownership to identify the digital platforms that will put the best information at their fingertips. In close collaboration with the global IT team, synergies between the platforms are established to bring relevant data across departments, moving away from siloed decision-making. The challenges of digitalisation include increased exposure to cyber attacks and data breaches, as well as nonstandardisation of internal processes leading to operational inefficiency. However, we believe that digitalisation is foundational to our continued growth. Thus, as a Group, we are committed to investing into the digital infrastructure and resources needed to empower good decision-making, as well as establishing sound governance of our data assets. CLOSING WORDS The evolving business landscape gives rise to both risks and opportunities. As Yinson continues to evolve in tandem, we keep our goal of providing energy security to countries and communities front and centre. This leads us to take a careful, yet bold approach to our growth, balancing the need for innovation and disruption with sound governance and data-based decisions. We are confident that our decisive strategic actions in 2022 have further strengthened our foundations and safeguarded us from our key risks moving forward, while providing a clearer way forward on the opportunities we should capitalise on. Thank you for joining us on this journey as we head towards a more sustainable, equitable and energy-secure future for all.
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