Key Risks

Cyber breaches including data exfiltration or denial of service of critical IT systems, present significant risks.

To mitigate these risks, we have a multi-pronged strategy encompassing employee education, continuous Security Operations Centre monitoring, fortification of cyber defences, regular reviews and audits. These measures are in place to ensure robust protection. 

We also conduct simulation exercises to strengthen crisis responses and business continuity for swift business recovery.

Our growth depends on attracting and retaining global talent. Our People development strategy enhances our capacity for growth; builds an engaged workforce; and positions us at the forefront of best-in-class HR practices. This is achieved through various programmes and initiatives on career development, diversity and inclusion, rewards and recognition, employee well-being and fostering strong union relations. 

Additionally, we are committed to upholding fair and ethical people practices, forging an environment where everyone is respected.
 

We are committed to “Safety Before Profits” and strive for zero accidents by integrating safety controls into key business processes. This is supported by hazards identification, risks assessment, proactive reporting, and instilling a strong safety culture. 

We are committed to a holistic approach to employees' occupational health and well-being, leveraging innovative solutions and comprehensive programmes to continuously enhance safety standards for all stakeholders.
 

Our proactive regulatory compliance framework and management systems ensure strict adherence to the laws and regulations in the countries that we operate in. Regular updates on regulations and employee training reinforce compliance.

All violations and remediation measures undergo formal review by the management and the Risk and Sustainability Committee to maintain high standards of good governance. 

We have a zero-tolerance policy for fraud and corruption and uphold high standards of governance, ethics and integrity through our Code of Business Conduct & Ethics. Annual training on the Code is compulsory for all employees. 

Anti-corruption undertakings and policy acknowledgments are also incorporated into our contracts with all intermediaries.

Disruptive events can have serious consequences if not appropriately managed.

To enable rapid crisis responses and continuity of business operations, we have implemented a real-time monitoring system that provides timely alerts on incidents that can potentially impact our operations and assets globally, as well as a robust Business Continuity Management (BCM) programme.

Supply chain resilience and sourcing optimisation is reinforced through proactive monitoring and analysis of supply chain events and supplier diversification.  We also leverage on the Group’s network and relationships with key suppliers and conduct scenario analysis to enhance BCM readiness.

Interest Rate
Higher USD and SGD interest rates increase cost of borrowing and impact our operating results and profitability.

To manage interest rate risks, we hedge our interest rate exposure in accordance with the Group policy to reduce the volatility and impact of interest rate movements on our net profit.

Credit
Non-payment by the Group’s customers and other counterparties also impacts our net profit. Our Credit Control Policy governs how we manage credit risk across the Group through processes including credit evaluation, credit limits and credit terms.

We are committed to achieving excellence in product and service quality, safety, and reliability. 

Our holistic approach involves all stakeholders and ensures robust safety management systems are implemented across the value chain, from design and development to production and customer service.
 

The Major Bid Review Committee strengthens bid governance through proactive risk identification and mitigation at the bid submission stage, safeguarding project outcomes and delivering value to our stakeholders.

We are committed to effective project execution through rigorous project reviews and a strong quality assurance system. This ensures projects are delivered successfully with high quality standards while meeting contractual obligations.  
 

Innovation
We manage innovation risk through leadership oversight, leveraging research partnerships and venture capital investments to integrate cutting-edge solutions into our operations. 

We invest in R&D and build capabilities to address real-world challenges. While embracing disruptive technologies such as AI, we have implemented an AI Governance Framework to ensure safe, ethical and responsible design, development, deployment, and use of AI systems across the Group.

Strategy
We have a clear vision and strategic roadmap to achieve long-term sustainable growth by swiftly adapting to changing circumstances and capturing opportunities in today's dynamic business environment.

We remain committed to making measured and sound decisions to achieve our long-term strategic objectives, reinforced by a willingness to take calibrated risks. The progress of our strategic initiatives is monitored regularly and risks are reassessed periodically.

Evolving physical and information security threats, including AI-related data leakage pose increasing operational and reputational risks. 

We mitigate these risks by implementing a proactive security strategy that focuses on (1) Policy and Governance (2) Training and Education and (3) Audit and Inspection. These approaches enable continuous risk assessment, strengthen security controls, and instill a security-conscious culture across the organisation, ensuring regulatory compliance and protecting stakeholders’ interests.

 

In an increasingly fragmented and volatile global environment, we actively manage geopolitical risks through horizon scanning, structured scenario analysis, and supply chain diversification. We closely monitor external developments, including geopolitical tensions and conflicts, trade disputes, sanctions, and protectionist measures.

To address potential disruptions, including major incidents and crises arising from geopolitical developments, we have a well-established Business Continuity framework which enables us to respond swiftly and effectively, safeguarding the safety and well-being of our employees while ensuring continuity of our operations.