2 Overview 3 MISC’s 2024 Integrated Reporting Suite ABOUT THIS REPORT SEC 1 6 Who We Are 8 Our Businesses 12 How We Move Energy ABOUT MISC SEC 2 SEC 3 KEY MESSAGES 16 Chairman’s Message 20 President & Group Chief Executive Officer’s Message 24 Chief Strategy & Sustainability Officer’s Message 26 Chief Financial Officer’s Message SEC 4 HIGHLIGHTS 30 Key Highlights 2024 32 A Look Back at 2024 SEC 6 STRATEGIC REVIEW 52 Our Operating Environment 60 Our Material Matters 65 Our Risks and Mitigation Strategies 70 Delivering Our Strategy and Its Progress SEC 7 BUSINESS REVIEW 78 Gas Assets & Solutions 81 Petroleum & Products 84 Offshore 87 Marine & Heavy Engineering 90 Marine Services 94 Maritime Education & Training SEC 11 LEADERSHIP 132 Our Board at a Glance 132 Our Board of Directors 134 Profiles of the Board of Directors 140 Our Executive Leadership Team 142 Profiles of the Executive Leadership Team SEC 12 GOVERNANCE 150 Corporate Governance Overview Statement 173 Board Nomination & Remuneration Committee Report 180 Board Audit Committee Report 187 Board Sustainability & Risk Committee Report 192 Statement on Risk Management & Internal Control 209 Statement of Directors’ Responsibility 209 Additional Compliance Information SEC 9 FINANCIAL REVIEW 106 Group Financial Review 109 Financial Calendar 110 Five-Year Group Financial Performance 112 Statement of Value Added & Value Distributed SEC 10 ANCHORING SUSTAINABILITY 116 Sustainability Governance 119 ESG Risk Management 120 Sustainability Strategy and Its Key Progress in 2024 123 Contributing to the Sustainable Development Goals (SDGs) 124 Memberships and Associations 125 Climate-related Financial Disclosures 126 Bursa Malaysia Common Sustainability Matters and Indicators SEC 8 CORPORATE ENABLERS 100 People Development 101 Operating Safely & Sustainably 102 Operating Responsibly SEC 13 ADDITIONAL INFORMATION 212 Properties Owned by MISC Berhad and Its Subsidiaries 214 Statistics on Shareholdings 217 Corporate Information 218 List of Abbreviations SEC 14 ANNUAL GENERAL MEETING 224 Notice of Annual General Meeting Form of Proxy What’s Inside SEC 5 VALUE WE CREATE 40 Our Integrated Approach to Value Creation 42 Value Creation Business Model 44 Key Capitals 46 Engaging with Stakeholders NAVIGATION ICONS Key Capitals United Nations Sustainable Development Goals Physical P Human H Financial F Intellectual I Natural N Social & Relationship SR Material Matters Health and Safety Climate Change Energy Management Financial Performance Values, Governance and Business Ethics Human Rights Sustainable Supply Chain Ocean Health Security Talent Development and Retention Waste Management Diversity and Inclusion Digitalisation Cybersecurity Community Investment Stakeholders Employees Customers Government/Regulators Shareholders/Investors/Financial Services Providers Business Partners/Suppliers & Vendors Communities Industry Peers Media Academic Organisations Trade Associations/NGOs Risks Scan the QR code to download Integrated Annual Report 2024 on our website. Project Delivery Risk Energy Transition and Decarbonisation Risk Financial Risk Asset Integrity and Performance Risk Health, Safety, Security and Environment Risk Cybersecurity Risk Talent Risk Compliance and Regulatory Risk Market Risk Geopolitical Risk
RkJQdWJsaXNoZXIy NDgzMzc=