Yinson has been awarded the ‘Industry Excellence Award’ under the energy sector at MSWG-ASEAN Corporate Governance Award 2021, in recognition of the Group’s exemplary corporate governance disclosure and practices amongst Malaysian public listed companies.

The Group achieved top recognition in the energy sector for two consecutive years, while significantly improving its overall ranking from 26th in the previous year to 13th in the list of Top 100 companies for corporate governance disclosures in 2021.

Judging criteria of this award is based on the scorecard which was developed according to the Organisation for Economic Co-operation and Development's (OECD) Principles of Corporate Governance. The scorecard covers areas in rights of shareholders, equitable treatment of shareholders, role of stakeholders, disclosure and transparency, and responsibilities of the board. The scoring also takes into consideration emerging good corporate governance practices and penalties.

Yinson’s Head of Governance, Risk & Sustainability, Alex Gwee commented, “Yinson continuously strives and puts in significant effort to improve our corporate governance standards, for instance, through enhancing disclosures in our Annual Report, improving our sustainability practices, and by strengthening the frequency and quality of our stakeholder engagement initiatives. We are honoured to be recognised by MSWG and the judging panel of the award for the second year running. Yinson will continue to adopt best practices and set a higher benchmark to good governance and disclosure.”

Recently, the Group also received an improved FTSE4Good ESG rating of 3.8 compared to 2.7 in the prior year, placing Yinson in the top 14th percentile in its Industry Classification Benchmark Supersector. As of November 2022, we have also improved our Sustainalytics ESG rating to 17.4 from 21.7 in the previous year, leapfrogging our peers and achieving the top 1st percentile of both the energy service industry and the oil and gas equipment sub-industry.

These remarkable results demonstrate Yinson’s ongoing commitment towards openness, transparency and adopting best practices for all our disclosures.

For more information on:

• MSWG-ASEAN Corporate Governance Award 2021, please visit: http://www.mswg.org.my/asean-cg-2021

• FTSE4Good Rating, please visit: https://www.ftserussell.com/

• Sustainalytics ESG rating, please visit: https://www.sustainalytics.com/