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Sustainability Report highlights and benefits – MISC Berhad’s 2015 Sustainability Report published

Sustainability Report highlights and benefits – MISC Berhad’s 2015 Sustainability Report published

MISC Berhad (MISC) announced the publication of its 2015 Sustainability Report, covering the company’s commitments, strategy, performance and progress towards its sustainability goals for 2015.

President/Group Chief Executive Officer Yee Yang Chien said that sustainability remains an integral part of MISC’s operations, from the way it conducts its business to how employees are managed, environmental impact reduced and positive impact 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 revitalized 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: customers, employees, communities, the environment and shareholders.

Among the highlights of MISC’s 2015 sustainability performance are:

Marketplace

  • 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.

  • Vessel availability rate for MISC’s LNG and Chemical fleet was 99.8%, surpassing industry benchmarks across all segments of the shipping sector.

Workplace

  • 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.
  • Honoured 115 long serving employees at the annual MISC Long Service Awards.

Environment

  • 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.
  • 33,057 tonnes of Carbon Dioxide (CO2) emissions avoided through application of green technology.
  • 97% of hazardous waste from non-shipping operations were recovered or recycled.

Community

  • MISC’s 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.
  • 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.

 

References:

This article was compiled using an article from Hellenic Shipping News. For the sake of readability, we did not use brackets or ellipses but made sure that the extra or missing words did not change the article’s meaning. If you would like to quote these written sources from the original please revert to the link below:

http://www.hellenicshippingnews.com/misc-berhad-publishes-its-2015-sustainability-report/

 

 

 

 

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