91 These guidelines serve to ensure that the necessary global standards are in place to train and certify seafarers to operate technologically advanced ships for some time to come. Since 2012, MISC’s seagoing crew have been upgrading their certificates in stages to ensure compliance with the requirements. Our crews are fully STWC-compliant today. MISC also faces major Health, Safety and Environmental (HSE) risks. Incidents such as fatalities, pollution, fires and navigational incidents can result in loss of life, bring about financial and operational impact, and affect our reputation. Security incidents including the risk of piracy, hijacking, stowaways/ refugees and theft too, can have severe implications. To mitigate such risks, The Group continues to lay down strong HSE and security foundations, inculcate effective behaviour amongst staff and contractors, enhance their capabilities, and make key personnel more accountable. Our strong HSE track record speaks for itself as does our being shortlisted for the Lloyd’s List Asia Awards “The HPH Trust Safer Cleaner Seas Award” which honours maritime companies that have made a meaningful and positive difference in both safety and environmental performance. On top of this, our zero LTIF rate underscore our commitment in this area. The maritime sector is today facing a shortage of ready talent, particularly competent seafarers for vessels. On top of this, there is also the risk of an insufficient number of readily available successors to assume critical positions within the Group. To overcome this perennial problem, MISC has embarked on measures to ensure proper manpower and succession planning are in place so as to bring about business continuity and sustenance. We are also working to mitigate market forces by implementing a structured employee competency development plan to ensure continuous development of our internal capabilities and the competencies within our organisation. We are also strengthening staff mobility processes and rigorously developing identified successors. Today, ALAM is providing a strong in-house pool of ready, high quality talent as well as cadet sponsorships. We are confident that these and other mitigation strategies that we are already employing will help deflect any risks to our business. Performance Review
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