Vehicle (UGV). The Terrex s5 is the newest addition to our land platforms and comes equipped with advanced vetronics and a Hybrid Electric Drive (HED) option. The Taurus Multi-Role UGV is fully electric and offers regenerative charging on-the-move, a unique feature which allows the vehicle to be charged while moving, making it an energy-efficient and versatile platform for surveillance, logistics and transport purposes. During the year, we also launched the 40mm Low Velocity Automatic Grenade Launcher which has remote operating capability and a unique electric-driven belt feeding system, and the New Generation Assault Rifle which offers the advantages of a bullpup rifle while preserving the features of an assault rifle. The new 5.56mm Unmatched Lead-free Tactical Response round is an advanced ammunition that enhances soldiers’ lethality and is another example of our efforts to continually develop solutions that help customers and users achieve mission success. Over in the U.S., our specialty vehicles business reported higher sales, driven by increased demand amidst an improving U.S. economy. DID YOU KNOW? The new Taurus UGV is a fully electric vehicle with regenerative fast charging on-the-move. It can function as a mobile generator, powering other unmanned vehicles, robots and personal devices like computers. While it can power floodlights or water purification systems for more than a day, its true strength lies in its customisable modularity and adaptability, making it essential for surveillance, logistics and disaster relief operations. We remained the preferred partner for sophisticated, high quality ship conversions and maintenance... The new Gul Yard will enhance capacity and capabilities, allowing for larger, more complex projects and positioning us for future growth. MARINE The shipbuilding segment maintained strong momentum throughout the year, achieving key milestones across its programmes. In March, we marked the steel cutting ceremony for the first of the six Multi-Role Combat Vessels (MRCVs) for the Republic of Singapore Navy (RSN), followed by keel laying for the vessel later in the year, officially commencing construction. The MRCVs are scheduled to join the RSN from 2028 onwards. Other programmes, including the mid-life upgrade of RSN’s Formidable-class Frigates and the Falaj 3-class Offshore Patrol Vessels project for the UAE Navy, are progressing on schedule. We also secured a shipbuilding contract to design and construct an advanced, purpose-built Walk-to-Work vessel for a leading oil and gas company, expanding our presence in specialised vessels for supporting offshore operations. In September, we officially opened the new Gul Yard, which became fully operational in January 2025. Replacing the Tuas Yard, the Gul Yard enhances capacity and capabilities, enabling us to handle larger, more complex projects, including ships up to 240m in length. It also positions us to explore new markets such as offshore renewables and oil and gas support vessels. 35 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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