MISC Publishes its 2015 Sustainability Report
MISC Berhad (MISC) today announces the publication of its 2015 Sustainability Report, covering the Company’s commitment, strategy and performance for the year ended 31 December 2015 and progress towards its sustainability goals.
President / Group Chief Executive Officer Yee Yang Chien said that sustainability remains an integral part of MISC’s operations, from the way business is conducted, to how employees are managed, environmental impact reduced and positive impact is created for local communities.
“Our systematic and structured approach in managing MISC’s sustainability performance over the past few years involves a continuous endeavour to conduct our business operations in a responsible and sustainable manner, define and enhance relationships with our key stakeholders as well as ensure holistic value creation over time. 2015 marks a significant milestone in MISC’s commitment to sustainability as we refreshed our Vision and Mission to ensure sustainability is central to the way we conduct business,” he said.
MISC’s refreshed Vision defines the Group’s aspiration ‘to consistently provide better energy related maritime solutions and services’, while its revitalised Mission calls for the Group to be consistently better by striving to fulfil the expectations of, and making a positive impact on, its five key stakeholder groups, namely customers, employees, communities, the environment and shareholders.
Among the highlights of MISC’s 2015 sustainability performance are :
o Higher Group revenue, operating profit and profit before taxation compared to the previous year.
· Revenue of RM10.91 billion, 17.3% higher than the preceding year’s revenue of RM9.30 billion.
· Profit before tax (PBT) increased by 6.5% to RM2.57 billion in 2015 from PBT of RM2.41 billion in 2014.
· Group operating profit of RM2.78 billion was 51.1% higher than FY2014’s operating profit of RM1.84 billion.
o Vessel availability rate for our LNG and Chemical fleet was 99.8%, surpassing industry benchmarks across all segments of the shipping sector.
o Zero recordable incidences of workplace fatalities and the Group’s Lost Time Injury Frequency (LTIF) and Total Recordable Case Frequency (TRCF) remained low at 0.12 and 0.48 respectively.
o Honoured 115 long serving employees at the annual MISC Long Service Awards.
o Five new Moss type LNG Carriers will have ‘Green’ technologies and features designed for energy efficiency, emissions reduction, biodiversity management and end-of-life disposal.
o 33,057 tonnes of Carbon Dioxide (CO2) emissions avoided through application of green technology.
o 97% of hazardous waste from non-shipping operations were recovered or recycled.
o Its subsidiary, the Malaysian Maritime Academy (Akademi Laut Malaysia - ALAM) received the highest 6-Star rating on International Students Services from the Malaysian Quality Evaluation System for Private Colleges (MyQUEST) for 2014/2015.
o Over 400 shore employees and seafarers from the Group’s Malaysia and Singapore offices as well as ALAM cadets, volunteered for the MISC Flood Relief Programme at SMK Kuala Krai and Kampung Lela Jasa, Manik Urai, in Kelantan.
“As a corporate citizen, MISC views sustainability as an opportunity to drive social and economic progress and we are honoured to be one of the constituents of the FTSE4Good Bursa Malaysia Environmental, Social and Governance (ESG) Index. This recognition has energised our efforts in championing our sustainable development agenda. In MISC’s pursuit of long term stability and success with sustainability at the core, maintaining a responsible and ethical business conduct as well as continually creating value for our stakeholders will strengthen our competitiveness in the years to come,” added Yee Yang Chien.
MISC’s 2015 Sustainability Report should be read in conjunction with MISC’s 2015 Annual Report which provides comprehensive information on the financial performance and overall business strategy of the Group.
The Sustainability Report was prepared in accordance with the Global Reporting Initiative’s (GRI) G4 Sustainability Reporting Guidelines and it is the Company’s second standalone Sustainability Report.