MISC Integrated Annual Report 2020

///// Sustainability / Financial Review / Business Review / Leadership / Governance /// MISC Berhad / Integrated Annual Report 2020 7 136 MISC Berhad / Integrated Annual Report 2020 7 137 /// Governance / Leadership / Business Review / Financial Review / Sustainability ///// Section Section BUSINESS REVIEW LNG ASSET SOLUTIONS MISC’s LNG Asset Solutions segment possesses more than three decades of proven experience and distinguished reputation as a global industry leader in the safe and efficient transportation of liquified natural gas (LNG). We have a sterling track record of operational excellence, reliability, safety and on-time cargo deliveries. As one of the world’s largest single owner and operators of LNG carriers (LNGCs), we are well-positioned to capitalise on emerging opportunities including non-conventional LNG solutions by leveraging on our in-house technical and ship management capabilities as well as expertise in project management for newbuilds, refurbishment projects and technological solutions for floating storage units (FSUs). More recently, we have ventured into the emerging sectors of LNG bunkering vessels (LBV), and very large ethane carriers (VLECs). FINANCIAL PERFORMANCE million million RM2,653 Revenue RM1,191 Operating Profit Further details on LNG Asset Solutions https://www.misc.com.my/solutions/lng-shipping Owns and/or operates: 29 LNGCs 2 FSUs 1 VLEC 1 LBV 3-year Commencement of a charter by PETRONAS LNG Sdn. Bhd. for one LBV Best Quality Ship Award 2019 Seri Amanah awarded the by the Japan Federation of Pilots’ Associations 100% utilisation for LNG trading vessels in 2020 6 Entered into Memorandum of Agreements with Zhejiang Satellite Petrochemical Co. Ltd. (STL) for the purchase of VLECs 15 years Entered into Time Charter Parties (TCPs) with STL for a period of for the transportation of ethane from the United States to China 1 ST Approval in Principle (AIP) by Bureau Veritas for one of our LNG-to-power (L2P) solutions Awarded KEY HIGHLIGHTS dual-purpose LBV Became commercial operator and ship manager of Southeast Asia's