We continue to make good progress on our other contracts, including the contract for the design and supply of platform equipment and technical assistance for four Falaj 3-class Offshore Patrol Vessels for the UAE Navy. Our ship repair and conversion business also had a full year of ongoing projects comprising offshore, dredging and specialised vessels. Of these, we successfully delivered the mid-ship block on the Oranje trailing suction hopper dredger for Royal Boskalis Westminster N.V., as part of the Oranje lengthening project as well as converted the Fjell heavy lift vessel into a 14,000t fall pipe vessel. We launched the Jurong Island Desalination Plant in April. Built by the consortium of Tuas Power and ST Engineering, along with PUB, Singapore’s National Water Agency, the Jurong Island Desalination Plant is Singapore’s fifth desalination plant and has a daily capacity of up to 137,000 cubic metres (about 30 million gallons) – the equivalent of 55 Olympic-sized swimming pools. In December, we signed a teaming agreement with thyssenkrupp Marine Systems to provide warranty services and in-service support for four Invincible-class submarines that were built for the Republic of Singapore Navy. DEFENCE AEROSPACE We continued to work closely with our customers to enable them to meet and exceed their operational requirements. These customers include our close partners, the Royal Air Force of Oman and Lynden Air Cargo who have sent their C-130/L-382 aircraft to us every year for heavy maintenance for over two decades. We deepened our relationships with strategic defence industry partners across the world, and signed MOUs for collaboration, in engineering and MRO with Airbus Defence and Space as well as AllClear Aerospace & Defence. We also made strong progress in our Smart MRO journey, with the operationalisation of smart tools management systems, digitalisation of work flows, remote aircraft tugs and aircraft proximity sensors for towing. OUTLOOK The IT landscape is ever-changing and the momentum of digital transformation shows no signs of slowing down as today’s technological trends mature and are improved upon, even as new trends emerge. AI is expected to continue to grow rapidly, with wide-ranging applications for nearly all industries and in our daily activities. Businesses will continue to use AI applications and platforms such as robotics to enhance business resilience and productivity as well as customer engagement. We continue to rigorously embed AI technologies, such as data processing and speech recognition, into our Enterprise applications. In addition, our Mission Critical Operations Centre and Emergency Response Systems have predictive analytics to drive greater operational efficiency and agility. Deep learning is one of the latest research trends in the field of AI which offers opportunities to go beyond the constraints of traditional machine learning. As businesses continue to invest and expand their remote work capabilities, demand for cloud computing services such as Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS) and Platform-as-a-Service (PaaS) is expected to account for most of the growth in public cloud services. At the same time, we also watch with keen interest as traditional cloud solutions evolve to segments such as MultiCloud, Distributed Anywhere, Industry Clouds and Sovereign Clouds as well as emerging new technologies like edge computing which will improve bandwidth and response time. We continue to provide professional and managed services for customers to thrive in a multi and hybrid cloud environment powered by our Cloud Management Platform that meet their business requirements. The Cybersecurity segment continues its strong growth momentum as businesses invest in IT security. CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 49
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