37 SECTION 3 VALUE CREATION INTEGRATED ANNUAL REPORT 2025 VALUE CREATION MODEL MANUFACTURED CAPITAL Wasco directs its infrastructure investments towards capacity expansion, operational efficiency, and growth in high-demand business segments, positioning the Group for sustainable long-term value creation. Expanding capacity vs. capital intensity: As we scale our fabrication footprint across Southeast Asia and the Middle East, each expansion phase demands sustained capital commitment and ongoing operational investment. We manage this trade-off deliberately, ensuring that capacity growth translates into tangible project execution capability rather than underutilised infrastructure. Efficiency improvements vs. environmental impact: Expanding into new geographies and facility types inevitably increases our energy footprint. We address this proactively through a parallel commitment to renewable energy sourcing and energy efficiency initiatives across our operations, ensuring that capacity growth does not come at the expense of our environmental responsibilities. Our Approach Trade-Offs M • Expand fabrication yards across Batam and the UAE to strengthen capacity for large-scale, complex project execution across the globe. • Enhance pipe coating capabilities to capture growing demand across key markets, reinforcing Wasco’s position as a global leader in pipeline services. • Advance bioenergy infrastructure capabilities through Wasco Greenergy, supporting customers’ transition towards lower-emission industrial energy solutions. 2025 Focus • UAE Fabrication Yard Launch: Launched a new modular fabrication yard in Jafza, Dubai, spanning 25,000 m2 with an annual production capacity of 10,000 tonnes to fabricate process modules, gas compressor packages, substations, and E-Houses for clients across the Middle East. • Global Fabrication Scale-Up: Expanded our total fabrication footprint to 40.5 hectares globally across Batam and Dubai, reinforcing Wasco’s position as a trusted modular fabrication partner across Southeast Asia, the Middle East, and beyond. • Pipeline Coating Operations: Executed pipeline coating scopes for major projects across key markets, further reinforcing our standing as one of the world’s leading pipeline coating specialists. • Milestone Engineering & Fabrication Contract: Secured a landmark contract for the fabrication of pre-assembled modules supporting a large-scale low-carbon infrastructure project, demonstrating the strong confidence our global clients place in Wasco’s execution capabilities. • Bioenergy Growth: Through Wasco Greenergy, advanced our bioenergy capabilities by securing a contract to engineer and build a biomass steam utility facility in Johor, supporting customers’ transition towards lower-emission industrial energy solutions. Achievements
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