KWA CHONG SENG Chairman Non-Executive Independent Director VINCENT CHONG SY FENG Group President & CEO Executive Director LETTER TO SHAREHOLDERS ...our strategy for achieving sustainable growth is on track given our achievements in recent years. Dear Shareholders 2022 was a year marked by considerable challenges but also significant opportunities. Even as much of the world recovered from the COVID pandemic, geopolitical stability was shaken by the conflict in Ukraine. Businesses grappled with energy price volatility, higher inflation, supply chain disruptions, global chip shortages and rising interest rates. In such an environment, while we were cautious because of the short-term market outlook, we continued to take the long view. Ever since we embarked on our journey to transform ST Engineering, the Board 04 ST ENGINEERING ANNUAL REPORT 2022
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