128 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 MG4 DIGITAL TRANSFORMATION Integrate digital solutions into business processes and operations to optimise business performance and ensure digital systems and assets are safeguarded against external cyber threats. Risks • Non-standardisation of internal processes may lead to inefficiencies in capital deployment for system enhancements or connections. • Lack of modern digital tools and mediums may create an uncompetitive business environment where work is hampered, leading to operational inefficiencies. Opportunities • Utilisation of digital solutions may reduce low-value, tedious work, thus utilising employee capacity for more meaningful work. • New revenue streams may be unlocked through the utilisation of data produced from assets and business processes. • Effective data analytics lead to better decisionmaking, which could result in cost efficiencies. Concerned stakeholders S3 S4 S8 WHY IS THIS TOPIC MATERIAL TO US? Strategic technology advancements for sustainable growth As an industry leader, Yinson recognises the importance of harnessing cutting-edge technologies and innovative digital tools. These advancements serve as catalysts for the expansion of our business. Our ongoing digitalisation initiatives have significantly enhanced our operational efficiency and effectiveness. In line with this, the transformation has increased our reliance on data and IT infrastructure. Ensuring data security and resilience Safeguarding our proprietary and confidential information is of utmost importance to us. Robust cybersecurity measures are essential to guard against potential threats. Any breach in our systems could lead to severe consequences, such as financial losses, exposure of sensitive data, reduced competitiveness, business continuity disruptions, and reputational damage. Yinson is dedicated to sustaining a secure and resilient technological ecosystem, solidifying our position as a trusted leader in the industry. MANAGEMENT APPROACH Group Strategic IT Roadmap Since its launch in 2022, the Group Strategic IT Roadmap has been actively operationalised by our IT team, regularly aligning with business stakeholders through Demand Management Forums and other touchpoints. In 2023, we established the Digital Steering Committee, chaired by the Group Chief Information Officer (Group CIO), which meets quarterly to ensure our Group IT direction is in sync with MSC expectations, as well as providing guidance for digitalisation efforts. Our digitalisation initiatives are carried out through seven core Group IT Functions, working closely with Business teams. Each function contributes to the strategic outcomes of the Group Strategic IT Roadmap. Business Unit-IT teams Experts in operational technology for their units, Business Unit-IT teams operate independently in fast-paced environments, working in tandem with Group IT Functions on cross-unit and cross-functional projects. Some examples include IT Security and Infrastructure & Network. These functions are managed at the Group-level due to their nature of universal application across all business functions. Business Unit-IT teams and Group IT Functions work synergistically under the leadership and guidance of the Group CIO.
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