On behalf of the Board, I am pleased to present to you Yinson’s Annual Report 2020. This year, in line with our commitment to sustainability and the environment, we have made this report available to you digitally on our dedicated microsite. We hope you will enjoy the interactive experience.”
Lim Han Weng
Founder and Group Executive Chairman
FYE 2020 started with great promise, as new opportunities emerged in the FPSO industry and the oil and gas market performed steadily. The theme of this Annual Report, ‘Geared for Growth’, is a reflection of the investments and efforts Yinson put into building our project execution, financial and operational capacity in line with this growth.”
Lim Chern Yuan
Group Chief Executive Officer
Our ability to bring greater value to our stakeholders motivates us to perform our very best, because we believe that this is the key to sustainable growth.
We frame the value that we generate for our stakeholder through six capitals. Guided by our Vision, Mission and Core Values, we strive to manage our capitals in a way that achieves the desired outputs and outcomes for our stakeholders.
Operating in a capital-intensive industry, Yinson seeks to allocate our financial capital efficiently to maximise the return on capital. Our sources of capital include contributions by our equity shareholders and perpetual securities holders, loans and borrowings from financial institutions, cash held as well as cash flow generated from operating activities.
Our Manufactured Capital consists of the resources that go into the building, and acquisitions of, our key assets.
We also consider major infrastructure (including those provided by third parties) used in the building or acquisition of our assets as Manufactured Capital.
The management of this capital is a key business imperative and is considered an essential to fulfilling stakeholder expectations.
Our Organisational Capital consists of the structures that help employees – and thereby the business – become more productive. We believe excellence in organisational capital is a differentiator that can give Yinson a competitive edge.
We measure the success of our Organisational Capital by looking at our progress in the following areas:
At Yinson, our employees and crew are considered a core capital. The skills, happiness, engagement and safety of our people are the foundation of our success and play a key role in achieving our business objectives.
Yinson shapes its goals for Human Capital around the following priority areas:
Our Natural Capital consists of the naturally occurring resources used in, or affected by, our business activities. Yinson is aware of its multifaceted environmental footprint stemming from its business operations.