FOSTERING SYNERGY IN TECH AND INNOVATION THROUGH A COORDINATED APPROACH As advanced technologies and AI reshape the business landscape, we prioritise synergy across our diverse domains and R&D investments. Through the Group Technology Office and Group Engineering Centre, we drive innovation, develop breakthrough solutions and streamline efforts across the Group, enabling our businesses to focus on core operations while avoiding duplication in developing common core technologies and engineering solutions. We invest in critical digital technologies, including AI, data analytics, robotics, cybersecurity and 5G connectivity, along with the application of Generative AI and quantum computing. We also develop reusable common modules, such as AI Video Analytics Suite and AI Analytics tools for knowledge mining and risk analysis. These foundational components are embedded in our solutions to accelerate time-to-market and reduce development costs. By addressing shared challenges through strategic investment in digital technologies, we ensure that our R&D efforts are both synergistic and impactful, with tangible business outcomes. This approach delivers continual value across our aerospace, defence and smart city domains, strengthening our position as an innovation leader while empowering our customers to achieve new levels of security, efficiency and performance. ALIGNING WITH ESG STANDARDS, ADVANCING RESPONSIBLY As we build on our strategic priorities, we are equally committed to our sustainability agenda. In line with our climate action commitment, we have updated our target to reduce Scope 1 and 2 greenhouse gas emissions by 50% by 2030, revising the base year from 2010 to 2015, being a more challenging target. We also keep abreast of evolving regulatory requirements in sustainability reporting, such as the 2023 European Union Corporate Sustainability Reporting Directive. By ensuring timely and transparent disclosures, we reinforce our dedication to accountability and sustainability. For a detailed overview of our ESG initiatives, please refer to our Sustainability Report. REFRESHING OUR BOARD In 2024, changes were made to our Board as part of our disciplined renewal process. In February, Neo Gim Huay was appointed to the Board and a member of the Risk and Sustainability Committee. In June, Philip Lee Sooi Chuen joined the Board and the Executive Resource and Compensation Committee, the Nominating Committee and the Strategy and Finance Committee. In August, Lien Siaou-Sze was appointed to the Board, subsequently joining the Audit Committee in November. During the year, several directors retired or stepped down from the Board, including Quek See Tiat, Lim Sim Seng and Lim Ah Doo. Each served for many years, making invaluable contributions to our boardroom discussions and strategy deliberations. We thank them for their dedication and commitment. In January 2025, Song Su-Min assumed the role of Chairman of the Risk and Sustainability Committee, succeeding Kevin Kwok Khien who remains as a committee member. These changes underscore our dedication to fostering a dynamic and effective Board that upholds robust governance and strategic oversight as we navigate future challenges and opportunities. Our robust, forward-looking plan builds on growth momentum and core strengths while pursuing new opportunities We also develop reusable common modules, such as AI Video Analytics Suite and AI Analytics tools... to accelerate timeto-market and reduce development costs 7 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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