22 YINSON HOLDINGS BERHAD | INTEGRATED ANNUAL REPORT 2024 During the year, we were pleased to welcome Sharifah Munira and Gregory Lee to the Nominating & Remuneration Committee and Board Risk & Sustainability Committee respectively, where we believe they will provide their wide experience and expertise to guide the committees. Strong and independent Board Committees are central to our governance structure, and I am confident that these new appointments will contribute to positive outcomes that add value to our shareholders. Our Offshore Marine business, Regulus Offshore, has also seen a change in leadership. We are pleased to appoint Liaw Thong Jung as Chief Executive Officer of Regulus Offshore, bringing with him a a wealth of market experience to ensure that the business continues to deliver value to our shareholders. Thong Jung replaces Lim Chern Wooi, who effectively stepped down as CEO on 10 May 2024. Chern Wooi had helmed Regulus Offshore for 10 years, establishing it as a key player in the OSV market with an exceptional performance and safety track record. We sincerely thank Chern Wooi for his contribution and wish him all the best in his future endeavours. In line with our firm commitment to embracing corporate governance and transparency, we have enhanced our existing whistleblowing channel with an independent platform this financial year, with multi-language support for the countries we operate in. We are also in the process of implementing an external training platform to engage with our external stakeholders, such as our suppliers, on compliance-related topics. This is an important part of building a sustainable supply chain, which will help to insulate our businesses against supply chain risk. EMBRACING OUR RESPONSIBILITY TO OUR LOCAL COMMUNITIES As we navigate through a dynamic global landscape, it becomes increasingly imperative for organisations to not only set ambitious goals but to also align their efforts towards achieving them. Thus, I am delighted to introduce Yinson’s flagship sustainability initiative, 30 by 30, which embodies our commitment to sustainable growth and value creation. 30 by 30 outlines 30 of our most material targets that we aim to achieve by 2030. These targets encompass a diverse range of objectives spanning environmental stewardship, social responsibility, and operational excellence. By setting clear and measurable targets, we ensure that our entire organisation is aligned on driving towards these collective goals. We have increased our investments in building our local communities, both by prioritising the local workforce and supply chain, as well as through corporate social responsibility projects. Bringing value to our communities is part of our purpose and vital to promoting long-term growth. Our newer offices in Brazil and Angola have been especially passionate about local environment and community-focused projects, collaborating with their local community partners to bring positive change such as through tree-planting, beach cleaning and educational work. In Ghana, where we have won numerous recognitions for our excellent community projects, we have increased the number of scholarships under the Yinson Scholars Programme, built a new computer lab and canteen, launched the Yinson Girls Education Programme, organised the Yinson Reading and Spelling Bee and much more. I am personally very excited about Yinson4Youth, or Y4Y, our flagship youth development initiative which kicked off in Malaysia. The inaugural Y4Y Grant was disbursed to facilitate two excellent youth-led projects, one to develop a mangrove nursery, and the other to conduct much needed research into the mental health needs of Malaysia’s indigenous youth community. To support employee involvement in CSR activities, we launched employee voluntary time-off, which allows employees to take up to four days of volunteering time-off annually. A STRONG AND STABLE OUTLOOK We remain optimistic about the future of our businesses, as we are confident that our investment into building our foundations on sustainability will hold us in good stead amid the many uncertainties. Such foundations have allowed us to be agile, making sound decisions that capitalise on the opportunities while managing risks. As a pioneer on many fronts, we are bound to make some mistakes. At Yinson, we embrace failure because we know that learning from our mistakes allows us to move forward stronger and wiser than ever. We are grateful for a wonderful network of stakeholders that work with us towards our shared goal of a better future. These include local governments, NGOs, fellow corporates, communities, the financial community and, of course, our own employees. With synergies gained from the wealth of experience of all parties, shared long-term perspectives and a commitment to doing what is right, we are confident that we can continue to grow and succeed while making a positive impact on the world. ACKNOWLEDGEMENTS I extend my heartfelt thanks to everyone who has believed in us and contributed to our success. First, to my fellow Board members for your wisdom and counsel in guiding the Company forward. We have spent many hours together deliberating Yinson’s strategies, and I believe our collective input has helped to put the business on a winning trajectory. To our shareholders and investors, we thank you for your trust in us. To our clients and partners, we are grateful for the opportunity to work with you. For the communities where we operate, thank you for welcoming us to your neighbourhoods. And finally, to our employees and their families, it has been a very demanding year, and I know you have worked very hard to bring the Company forward. We look forward to continuing our work together so we can affect change for a better future.
RkJQdWJsaXNoZXIy NDgzMzc=