20 WASCO BERHAD SECTION 2 KEY MESSAGES Over time, the Group has invested approximately USD43.2 million to acquire and progressively enhance our Batam facility. This includes expanded, fully concreted assembly and laydown areas, advanced automation systems, enhanced exotic-piping capabilities, and one of Southeast Asia’s largest purpose-built blasting and painting chambers, supported by integrated engineering and workforce training capabilities. These physical enhancements are complemented by in-house engineering expertise across process, structural, and electrical disciplines, supported by advanced digital engineering tools and simulation capabilities, positioning Batam as a regional centre of execution excellence. A further step-change in capability has been the completion of a 300-metre dedicated marine loadout jetty, capable of handling modules of up to 10,000 metric tonnes. This enables large structures to be transferred directly onto ocean-going vessels, improving logistics efficiency while strengthening our ability to support large-scale offshore, Liquefied Natural Gas (“LNG”) and transition-linked developments. Strategically located within a Free Trade Zone and along key Southeast Asian shipping routes, the Batam yard provides a cost-efficient and logistically advantaged platform to serve projects across Asia Pacific and the Middle East. Importantly, these investments are now translating into the scale and complexity of projects that Wasco is entrusted to deliver. During the year, Wasco secured a major contract from Technip Energies Italy S.p.A. for the fabrication of pre-assembled modules supporting a large-scale low-carbon infrastructure project. Valued between USD150.0 million and USD200.0 million, the project provides approximately 37 months of execution visibility and demonstrates how the Group’s capabilities are increasingly being applied to transition-linked developments. Taken together, these developments illustrate a broader theme: capabilities built with discipline over time are now directly supporting transition-linked and lower-emission infrastructure at scale. We built this platform over many years. Today, its relevance is expanding alongside the evolution of the global energy system. Further operational highlights are provided in the Business Review section on pages 28 to 33. WASCO GREENERGY: EXPANDING OUR ENERGY INFRASTRUCTURE PLATFORM The successful listing of Wasco Greenergy during the year marked an important milestone for the Group. For the first time, the capital market independently recognised a Wasco business as a renewable energy platform. During the financial year, Wasco Greenergy secured a contract to engineer and build a biomass steam utility facility in Johor, supporting a customer’s transition towards lower-emission industrial energy. Once operational, the project is expected to reduce more than 75,000 tonnes of CO2e annually, demonstrating how Wasco’s engineering and industrial capabilities are increasingly being applied to transition-linked infrastructure. This development reflects deliberate long-term positioning that extends our infrastructure expertise into adjacent segments aligned with decarbonisation and industrial efficiency. STRENGTHENING OUR FOUNDATIONS: PEOPLE, PLANET, AND PERFORMANCE The strength of Wasco’s platform ultimately rests not only on what we deliver, but on how we operate and continue to evolve. Across our global operations, the Group continues to strengthen environmental stewardship, responsible supply chain engagement, and operational discipline. From environmental initiatives across our facilities in Malaysia and Indonesia, to community training programmes in Tanzania, and responsible supply chain engagement through the Sustainable Transformation and Ethical Partnership (“STEP”) Programme, Wasco continues to embed responsible practices into everyday operations, supported by ongoing investments in safety culture, workforce development, and digitalisation. Building on this, the Group has continued to advance its Digital pillar, focused on strengthening operational visibility, enhancing execution, and enabling more informed decision-making across our global operations. This includes the progressive deployment of enterprise-wide artificial intelligence (“AI”) capabilities, anchored by the Wasco AI Universe (“WAU”) platform, to augment employees with AI and data-driven insights and improve efficiency across key workflows. CHAIRMAN AND MANAGING DIRECTOR/ GROUP CHIEF EXECUTIVE OFFICER’S STATEMENT
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