MISC Integrated Annual Report 2020

Introduction / Who We Are / Key Messages / Highlights / Strategic Review //////// MISC Berhad / Integrated Annual Report 2020 12 MISC Berhad / Integrated Annual Report 2020 13 //////// Strategic Review / Highlights / Key Messages / Who We Are / Introduction The Group’s Corporate Disclosure Guidelines identify the following management personnel responsible for Investor Relations activities: • President/Group CEO • Vice President, Corporate Planning • Vice President, Finance • General Manager, Corporate Planning Further information can be found on our website misc.com.my/solutions misc.com.my/investor-relations misc.com.my/sustainability misc.com.my/corporate-governance Business Solutions Investor Relations Sustainability Corporate Governance www.misc.com.my Contact us at: gcc@miscbhd.com Contact us at: investor.relations@miscbhd.com Contact us at: misc.sustainability@miscbhd.com ABOUT THIS REPORT MATERIAL MATTERS In developing our Report, we have taken cognisance of all material matters that impact the Group’s ability to create value in the short, medium and long term. The Report focuses on global developments, industry challenges and opportunities that are material to both our business and our stakeholders, which could potentially impact our performance. Details of our material matters can be found on page 66 of this Report. Information on our stakeholders can be found on page 68, while details of our operating environment can be found on page 70. REPORTING FRAMEWORKS The content of this Integrated Annual Report is guided by the following reporting standards and frameworks: • International <IR> Framework issued by the IIRC • Main Market Listing Requirements of Bursa Malaysia • Companies Act 2016 • Malaysian Code on Corporate Governance 2017 • Corporate Governance Guide (3rd edition) issued by Bursa Malaysia • Malaysian Financial Reporting Standards (MFRS) and International Financial Reporting Standards (IFRS) Our sustainability related disclosures have been guided by the principles and requirements of local and international statutory and reporting frameworks, including the following: • Bursa Malaysia Sustainability Reporting Guide • Global Reporting Initiative (GRI) Standards (Core Option) • Sustainability Accounting Standards Board (SASB) Standards • Dow Jones Sustainability Index (DJSI) • Carbon Disclosure Project (CDP) • Transition Pathway Initiative (TPI) In addition, we refer to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) to progressively guide our reporting on climate governance, strategy, related risks and opportunities and metrics. We will continue to work on disclosing more data on a best-effort basis moving into the future. SUSTAINABILITY Consistent with our commitment to sustainability, we also provide extensive reporting on our response to our stakeholders in relation to economic, environmental, social and governance matters. MISC’s sustainability agenda is also aligned to the United Nations’ Sustainable Development Goals (UNSDG). Further information can be found in the Anchoring Sustainability @ MISC section on page 104 of this Integrated Annual Report. DATA MEASUREMENT TECHNIQUES AND ASSUMPTIONS The Group’s current organisational boundary for greenhouse gas (GHG) reporting is defined based on the operational control approach. Our reported GHG emissions data are calculated based on the following: • Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition) • Third International Maritime Organisation (IMO) GHG Study 2014 • American Petroleum Institute (API) Compendium of GHG Methodologies for the Oil and Gas Industry, Aug 2009 • International Convention for the Prevention of Pollution from Ships (MARPOL) Annex VI • European Union (EU) Monitoring, Reporting and Verification (MRV) 2015/757 ASSURANCE This Report uses third party assurance in the following aspects: • Our external auditors, Ernst & Young PLT, provide assurance on the audited financial statements • Each of our vessel’s fuel consumption and relevant activity data have been verified by a third party i.e. DNVGL confirming the data were collected and reported in accordance with the methodology and processes set out in the ship’s Ship Energy Efficiency Management Plan (SEEMP) as required by Regulation 22A of Annex VI of MARPOL Convention The internal team has maintained its continuous oversight in the preparation of this Report to ensure that the data provided is reliable. INFORMATION ON EXCLUSIONS The information presented in this Report is guided by our appetite for disclosure. We have withheld information that fall within the following categories: • Information that would jeopardise our strategic and competitive advantage; • Information that we are contractually precluded from sharing; and • Information which we are unable to verify FORWARD-LOOKING STATEMENTS This Report contains forward-looking statements which shares the Group’s expectations of its future value creation prospects. These forward-looking statements involve a marked degree of uncertainty due to the continually changing operating environment and the vagaries of the industry within which MISC operates. This could result in actual results differing from those stated in the forward-looking statements. ABBREVIATIONS AND ACRONYMS A list of the abbreviations and acronyms used in this Report can be found on pages 493 to 495.