MISC Annual Report 2017

MISC BERHAD | Annual Report 2017 80 unlocking the value of our investment in CTSB, we can now reinvest the proceeds into our core businesses in line with our MISC2020 Strategy. Another significant development in 2017 involved the realignment of the brand identities of several of the Group’s existing and newly introduced subsidiaries with the Group’s overall brand identity to reflect a more cohesive MISC Group. One of these exercises saw the businesses, services and brand identity of MHB as well as MISC Maritime Services Sdn. Bhd. (MMS, formerly known as PETRONAS Maritime Services Sdn. Bhd.) being streamlined and aligned to that of the MISC Group. A part from promoting solidarity and esprit de corps among our people, we also ramped up collaborative efforts to strengthen industry collaboration and ensure the sustainability of our industry. We took on the role of a strategic partner in the Global Maritime Forum as well as the Gas4Sea initiative respectively. A platform for high-level leaders from across the maritime spectrum, the Global Maritime Forum is dedicated to unleashing the potential of the global maritime industry and shaping the future of global seaborne trade. We are honoured to be counted among the likes of 14 industry heavyweights such as A.P. Møller Maersk, Euronav, GasLog and PSA International in initiating positive change. Meanwhile, our involvement in the Gas4Sea initiative, together with PETRONAS and partners such as ENGIE S.A., Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha, will see us collaborating to advance the status of LNG as the preferred marine fuel by providing LNG bunkering services in the global market. Through our membership of Global Maritime Forum and the Gas4Sea initiative, MISC now has a voice to shape the future of our industry. I am delighted to announce that MISC continued to garner recognition for its dedication to operational excellence on several fronts. MISC was acknowledged as the “Tanker Operator of the Year” at the Lloyd’s List Asia Pacific Awards 2017 event, our first such win. Not only does this win accord the Group global recognition within the shipping industry, it attests to the high standards of operational excellence, good environmental stewardship, as well as high Health, Safety and Environment (HSE) standards that we subscribe to. Recognition for our environmentally responsible operations also came from the Chamber of Shipping of America (CSA) when 54 of AET’s vessels were awarded the Environmental Achievement Awards while 55 of AET's vessels received the Jones F. Devlin Awards for accident-free operations at the CSA Annual Safety Awards event. Apart from that, our first MOSS-Type LNG Carrier, Seri Camellia was shortlisted as one of the Top 4 candidates of the Nor-Shipping Energy Efficiency Award 2017. On top of this, our maritime academy’s position as a key player in the regional maritime education arena was reinforced when ALAM was named the “Best in Maritime Education & Training” at the prestigious Seatrade Maritime Awards Asia 2017 event. These positive developments augur well for the Group and demonstrate our resilience as well as ability to strengthen our position and offerings despite challenging market conditions. As we continue to chart a clearer path towards a better future, we remain committed to our credo of consistently doing things better. To this end, we will be aligning our corporate reports with the Integrated Reporting Framework in several phases over the next few years. This not only underscores our efforts to emulate current best practices in the marketplace, but it simply makes good sense as it further defines the link between our corporate and sustainability strategy as well our value creation efforts, all of which will ultimately help strengthen our corporate reputation and stakeholder relationships. To strengt hen i ndustry collaborat i on and ensure t he susta i nab i l i ty of our i ndustry , we took on t he role of a strateg i c partner i n t he Global Mar i t i me Forum as well as t he Gas 4 Sea i n i t i at i ve respect i vely. PRESIDENT/GROUP CEO ’ S REVIEW