MISC Integrated Annual Report 2020

FVOCI Fair value through other comprehensive income FVTPL Fair value through profit or loss FY2019 Financial year ended 31 December 2019 FY2020 Financial year ended 31 December 2020 FY2021 Financial year ending 31 December 2021 GHG Greenhouse gas GHSSE Group Health, Safety, Security and Environment GIA Group Internal Audit GKL Gumusut-Kakap Semi-Floating Production System (L) Limited GMF Global Maritime Forum Group MISC Berhad and its subsidiaries, associates and joint ventures HR Human Resource HSE Health, safety and environment HSSE Health, safety, security and environment ICT Information and communications technology IFRS International Financial Reporting Standards IFSSC PETRONAS Integrated Financial Shared Services Centre ILO International Labour Organisation IMO International Maritime Organisation INEDs Independent Non-Executive Directors IOT Internet of things IRS Interest rate swaps ISO International Organization for Standardization JDP Joint Development Project KAM Key Audit Matters KPI Key performance indicator KPOC Kebabangan Petroleum Operating Company Sdn. Bhd. KRI Key risk indicator KYC Know Your Customer L2P LNG-to-power NOx Nitrogen oxides NRC Nomination and Remuneration Committee NYK Nippon Yusen Kabushiki Kaisha OCIMF Oil Companies International Marine Forum ODS Ozone Depleting Substance OPEC Organization of the Petroleum Exporting Countries OSH Occupational safety and health OSVIS Offshore Support Vessel Inspection System OVID Offshore Vessel Inspection Database P&I Protection and indemnity PCSB PETRONAS Carigali Sdn. Bhd. PDPA Personal Data Protection Act Petrobras Petróleo Brasileiro S.A. PETRONAS Petroliam Nasional Berhad PETRONAS Group PETRONAS and its subsidiaries PPE Property, plant and equipment PRA Project Risk Assessment PRM PETRONAS Resiliency Model PRT Pandemic Response Team PSC Port State Control RM Ringgit Malaysia RMC Risk Management Committee ROACE Return on average capital employed RPT Related party transaction RRPT Recurrent related party transaction SICDA Securities Industry (Central Depositories) Act 1991 SIRE Ship Inspection Report SOP Standard operating procedure SORMIC Statement on Risk Management and Internal Control SOx Sulphur oxides SRA Social Risk Assessment SSPC Sabah Shell Petroleum Limited LBV LNG bunker vessel LCSC Legal, Corporate Secretarial and Compliance LNG Liquefied natural gas LNGC LNG carrier LOA Limits of authority LTI Lost time injury LTIF Lost time injury frequency MACN Maritime Anti-Corruption Network MaMPU Marginal Marine Production Unit MASA Malaysia Shipowners’ Association MC Management Committee MCO Movement control order MCCG 2017 Malaysian Code on Corporate Governance 2017 MCV Modular capture vessel MET Maritime education and training MFRS Malaysian Financial Reporting Standards MHB Malaysia Marine & Heavy Engineering Holdings Berhad MIA Malaysian Institute of Accountants MICPA Malaysian Institute of Certified Public Accountants MISC/MISC Group MISC Berhad and its subsidiaries, associates and joint ventures MMHE Malaysia Marine & Heavy Engineering Sdn. Bhd. MMLR Main Market Listing Requirements MMS MISC Maritime Services Sdn. Bhd. MOPU Mobile offshore production unit MRV Monitoring, reporting and verification MSOSH Malaysian Society for Occupational Safety and Health MVOT Malaysia Vietnam Offshore Terminal (L) Limited NEDs Non-Executive Directors NINEDs Non-Independent Non-Executive Directors NOCs National oil companies STCW Standards of Training, Certification and Watchkeeping TBC To be confirmed TCFD Task Force on Climate-related Financial Disclosures TCP Time Charter Party TMS Talent Management System TOR Terms of reference TRCF Total recordable case frequency UCUA Unsafe Condition Unsafe Act UNSDG United Nation’s Sustainable Development Goals USD United States Dollar VIS Vessel Inspection System VIU Value-in-use VLCC Very large crude carrier VLEC Very large ethane carrier WBC Whistleblowing Committee WFH Work from home LIST OF ABBREVIATIONS LIST OF ABBREVIATIONS MISC Berhad / Integrated Annual Report 2020 11 494 MISC Berhad / Integrated Annual Report 2020 11 495 /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// Section Section