WASCO BERHAD 14 Our facility in Dubai, located in the Jebel Ali Free Zone North—one of the region’s most strategic logistics hubs—complements our Southeast Asian operations. Spanning 25,000 m2, with 8,177 m2 of covered area, the facility is equipped with multiple fabrication bays, a multipurpose covered workshop, blasting and painting sheds, and ample open space for assembly. The yard is capable of delivering up to 10,000 metric tonnes of modular fabrication and pressure vessel manufacturing annually. Its proximity to the Jebel Ali Seaport, combined with its FTZ status, offers logistical and cost advantages, particularly for heavy loadouts destined for regional and international projects. The facility reflects our continued investment in operational excellence and our readiness to serve the growing demand for modular solutions across the Middle East and beyond. Our Bioenergy Services division ended 2024 with a strong backlog of RM259.2 million—one of the highest order book levels to date. This significant pipeline reflects robust market demand and enhanced revenue visibility, driven by global momentum toward decarbonisation and sustainable energy solutions. With increasing demand for biomass boilers and waste-toenergy systems that support Scope 1 emissions reduction, the division is well-positioned to scale and capture emerging opportunities across the region. Backed by a proven track record and growing market relevance, our Bioenergy business has reached a level of maturity that supports strategic optionality, including potential capital market access. This aligns with our broader ambition to unlock long-term value and position the division as a leading player in the renewable energy sector. Strengthening Market Visibility and Industry Engagement Our visibility in the broader energy market significantly grew through active participation at major industry events, including the Abu Dhabi International Petroleum Exhibition & Conference (“ADIPEC”) 2024 and Offshore Technology Conference (“OTC”) Asia 2024. Such platforms have reinforced Wasco’s global brand presence, facilitated valuable industry dialogue, and opened new opportunities for partnerships and project engagements worldwide. Rewarding Shareholders and Strengthening Investor Relations To reward shareholders for their continued confidence, on 28 February 2025, we declared a 2 sen dividend per share—the first since 2020. This dividend reflects prudent financial management during uncertain times, enabling strategic reinvestments to secure sustainable growth in future. We plan to retain adequate resources for the future growth of the Group while at the same time, reward our shareholders for their support through dividend payments. We will aim at achieving a good balance between efficient capital management and appropriate shareholders’ participation in the success of the Group through dividends. Our active Investor Relations strategy further underscores our commitment to transparency and stakeholder engagement. In June, we successfully hosted our inaugural Investor Day, themed “Navigating the Future of Energy,” attracting over 100 investors and analysts. This event, which we intend to hold biennially, complements our ongoing participation in dedicated investor conferences, ensuring consistent communication, market visibility, and sustained investor confidence. CHAIRMAN AND MANAGING DIRECTOR/ GROUP CHIEF EXECUTIVE OFFICER’S STATEMENT MD/GCEO engagement session with investors and analysts during Wasco Investor Day 2024.
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