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HENGYUAN REFINING COMPANY BERHAD I 07

On the critical aspect of industrial occupational health and
safety, we have been recognised by winning, for the first
time, the National Council of Occupational Safety and
Health (NCOSH) Award in the category of Major Industries -
Petroleum / Gas / Chemicals Category, which was formally
presented to us in February 2020. We have also participated
in the prestigious Prime Minister Hibiscus Award (PMHA) in
2020 and were awarded the top tier Excellent Achievement
Award and Joint State Award for Negeri Sembilan. This is
the second award that HRC has won from PMHA, the earlier
one being the Exceptional Achievement Award in 2017.

See page 31 for more details on our awards and achievements.

ENSURINg STABLE OPERATIONS

Amidst the lockdowns imposed in Malaysia, we experienced
slower demand for refined products but remained committed HRC’s Jetty at Port Dickson.
and continued to sustain operations as we operate within
the essential services sector. We responded with agility to since 2018 has been safeguarding our refining margins and
our customers’ changing needs and maintained services and inventory value against market volatility and provided positive
product quality standards. Our ability to transition seamlessly contribution to HRC’s profitability in 2020.
within new operating norms is a credit to our robust Business
Continuity Plan and stringent COVID-19 preventive measures. On energy efficiency, the implementation of supporting tools
such as CEMIS (CO2 and Energy Management Information
We also continued to make good progress in the areas System) has helped to save cost and energy through its nimble
of quality and environmental management. In 2021, energy optimisation system.
we successfully recertified for ISO 9001: 2015 Quality
Management Systems and ISO 14001: 2015 Environmental See page 33 for more details on our cost saving strategies.
Management Systems. Although there was no Green House
Gas Verification Audit conducted by SIRIM QAS International
in 2020, HRC continued to conduct the verification internally ELEvATED gOvERNANCE
using the same approach, to ensure GHG emissions are in
line with ISO 14064-1 and international standards. Our commitment to conduct our business at the highest level
of integrity remains of utmost priority and is highlighted in our
See page 30 for more details on our reliability and policies, procedures and practices adopted throughout our
quality strategies.
value chain to support our ethical business culture.
In 2020, we implemented Office Automation (OA) application
ImPROvED SAvINgS to facilitate good corporate governance culture and to
To surmount the drop in demand during this period, cost reinforce ethical, prudent and professional behaviour within
savings is key. Across the site, our people identified ways the Company. We made it compulsory and convenient for
to improve efficiency at reduced costs. We have seen employees to register gifts that were received from our
continuous improvement in the adoption of commercial business partners and declare any conflicts of interests
and entrepreneurial mindsets among our employees. via the OA platform. Approvals for such gifts and conflicts
Their observations and ideas led to new and innovative were also granted and recorded through the OA, making it
ways to improve process efficiency and bring about cost easy for the Company’s officers to track and review
optimisation throughout the Company. In addition, the compliance of the Company’s policies.
hydrocarbon hedging strategy undertaken by the Company See page 50 for more details on our commitment to good
governance.