Hengyuan Refining Company Bhd 2020 AR2
The report highlights Hengyuan Refining Company Berhad's performance and resilience during the challenging fiscal year 2020, marked by the COVID-19 pandemic. Despite a 43.2% decrease in revenue to RM 7.2 billion due to lower sales volumes and product prices, the company achieved a six-fold increase in profit after tax to RM 251.0 million, largely supported by its hydrocarbon hedging strategy. On the safety front, the company recorded 3 million manhours without a Loss Time Injury by the end of 2020 and maintained its zero work-related fatalities track record over 27 years. Additionally, the company successfully implemented Euro 5 Gasoil before the mandated timeline and received the Prime Minister's Hibiscus Award for Excellent Achievement.
Company: Hengyuan Refining Company Bhd
Sector: Energy
Country: Malaysia
Year: 2020
Type: AR2
Pages: 151
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Hengyuan Refining Company Bhd
Annual Report
The report highlights Hengyuan Refining Company Berhad's performance and resilience during the challenging fiscal year 2020, marked by the COVID-19 pandemic. Despite a 43.2% decrease in revenue to RM 7.2 billion due to lower sales volumes and product prices, the company achieved a six-fold increase in profit after tax to RM 251.0 million, largely supported by its hydrocarbon hedging strategy. On the safety front, the company recorded 3 million manhours without a Loss Time Injury by the end of 2020 and maintained its zero work-related fatalities track record over 27 years. Additionally, the company successfully implemented Euro 5 Gasoil before the mandated timeline and received the Prime Minister's Hibiscus Award for Excellent Achievement.
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Document Details
Report Year
2020
Reporting Period
Jan 1, 2020 - Dec 31, 2020
Fiscal Year
2020
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Women on Board
Workplace Fatalities