MISC Annual Report 2017

55 Strategy & Performance Sustainability Trends and Challenges Summary Our Position Demand for Transparency • Shipping is ever more subject to scrutiny considering the rise of social media, data availability and real-time monitoring. • Businesses will have opportunities to demonstrate leadership by giving customers, regulators and Non-Governmental Organisations (NGOs) the opportunity to monitor their performance. • This could lead to extremes of transparency in the not so distant future. • At MISC, we utilise various communication platforms (including digital and print) guided by relevant internal policies and guidelines. • We consistently provide regular updates and reports on our business operation, financial performance, strategies and future prospects to our shareholders in a timely manner. • We are continuously evolving our communication efforts to ensure that we meet the expectations of our stakeholders and are aligned with our commitment to uphold best practices in Corporate Governance. Maritime Security • Maritime piracy is a global issue that directly affect ships, ports, terminals, cargoes and seafarers. • The problem becomes a multifaceted and complex transnational security challenge that threatens lives, livelihoods and global welfare as piracy activities evolve. • MISC Group works closely with the Royal Malaysian Navy (RMN) to ensure the safety of our crew and vessels, especially in the Gulf of Aden and the Indian Ocean. • Emergency preparedness procedures and practices has been put in place, such as the Group Crisis Management Plan which will activate upon any incidences of crisis, including piracy. Advancing Technology • New ships will be increasingly sophisticated in their design, construction and technology while existing ships will be expected to meet ever more stringent efficiency as well as environmental demands. • Existing vessels and their crew will be required to adopt operational practices or retrofit new equipment in order to adhere to regulatory requirements. • MISC Group is committed to comply with regulatory requirements by adopting technological and efficiency measures as the need arises. • This is evidenced in some of the initiatives we have taken for our newbuilds and the retrofitting of our existing vessels with green technologies as follows : − Energy efficiency measures − Emissions reduction − Ballast water treatment systems, amongst others. SUSTAINABILITY@MISC SUSTAINABILITY TRENDS & CHALLENGES