MISC Integrated Annual Report 2020

INTEGRATED ANNUAL REPORT 2020	1
CONTENTS	8-9
INTRODUCTION	10-11
ABOUT MISC	10-11
CORPORATE INFORMATION	10-11
ABOUT THIS REPORT	12-13
WHO WE ARE	16-17
WHO WE ARE AND WHAT WE DO	18-19
WHAT WE OWN/OPERATE	20-21
HOW WE MOVE ENERGY	22-23
WHERE WE OPERATE	24-25
KEY MILESTONES	26-27
SPECIAL FOCUS	30-31
The FPSO Industry	32-33
KEY MESSAGES	34-35
CHAIRMAN’S MESSAGE	36-37
PRESIDENT/GROUP CEO’S REVIEW	40-41
HIGHLIGHTS	48-49
KEY HIGHLIGHTS 2020	50-51
KEY CORPORATE EVENTS AND ACHIEVEMENTS IN 2020	52-53
STRATEGIC REVIEW	56-57
OVERVIEW	58-59
HOW WE CREATE VALUE	60-61
OUR STRATEGIC FOCUS	64-65
OUR MATERIAL MATTERS	66-67
OUR STAKEHOLDERS	68-69
OUR OPERATING ENVIRONMENT	70-71
SPECIAL FEATURE OUR RESPONSE TO COVID-19	82-83
OUR RISKS AND MITIGATION STRATEGIES	84-85
DELIVERING OUR STRATEGY	90-91
SUSTAINABILITY	102-103
ANCHORING SUSTAINABILITY @ MISC	104-105
FINANCIAL REVIEW	124-125
GROUP FINANCIAL REVIEW	126-127
FINANCIAL CALENDAR	128-129
FIVE-YEAR GROUP FINANCIAL PERFORMANCE	130-131
STATEMENT OF VALUE ADDED AND VALUE DISTRIBUTED	132-133
BUSINESS REVIEW	134-135
LNG ASSET SOLUTIONS	136-137
PETROLEUM & PRODUCT SHIPPING	144-145
OFFSHORE BUSINESS	154-155
MARINE & HEAVY ENGINEERING	160-161
INTEGRATED MARINE SERVICES	170-171
PORT MANAGEMENT & MARITIME SERVICES	178-179
MARITIME EDUCATION & TRAINING	184-185
PEOPLE DEVELOPMENT	190-191
OPERATING SAFELY AND SUSTAINABLY	206-207
OPERATING RESPONSIBLY	230-231
LEADERSHIP	238-239
OUR BOARD AT A GLANCE	240-241
PROFILES OF THE BOARD OF DIRECTORS	240-241
PROFILES OF THE MANAGEMENT COMMITTEE	252-253
GOVERNANCE	258-259
CORPORATE GOVERNANCE OVERVIEW STATEMENT	260-261
NOMINATION AND REMUNERATION COMMITTEE REPORT	274-275
BOARD AUDIT COMMITTEE REPORT	282-283
BOARD GOVERNANCE AND RISK COMMITTEE REPORT	288-289
STATEMENT ON RISK MANAGEMENTAND INTERNAL CONTROL	294-295
STATEMENT OF DIRECTORS’ RESPONSIBILITY	308-309
ADDITIONAL COMPLIANCE INFORMATION	308-309
FINANCIAL STATEMENTS	310-311
DIRECTORS’ REPORT	312-313
STATEMENT BY DIRECTORS	318-319
STATUTORY DECLARATION	318-319
INCOME STATEMENTS	318-319
STATEMENTS OF COMPREHENSIVE INCOME	320-321
STATEMENTS OF FINANCIAL POSITION	320-321
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY	324-325
STATEMENTS OF CASH FLOWS	326-327
NOTES TO THE FINANCIAL STATEMENTS	330-331
INDEPENDENT AUDITORS’ REPORT	466-467
ADDITIONAL INFORMATION	474-475
MISC GROUP STRUCTURE	476-477
PROPERTIES OWNED BY MISC BERHAD AND ITS SUBSIDIARIES	480-481
LIST OF VESSELS AND ASSETS	482-483
STATISTICS ON SHAREHOLDINGS	490-491
LIST OF ABBREVIATIONS	494-495
ANNUAL GENERAL MEETING	496-497
NOTICE OF ANNUAL GENERAL MEETING	498-499
ADMINISTRATIVE NOTES RELATING TO THE 52ND ANNUAL GENERAL MEETING	502-503
Form of Proxy	508-509

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