04 2021 年 4 月 7 日 星 期 三 新 加 坡 可 为 八 个 大 巴 窑 供 电 东 南 亚 首 个 拉 柏 多 将 建 大 型 地 下 变 电 站 拉 柏 多 地 下 变 电 站 是 市 区 重 建 局 2019 年 发 展 总 蓝 图 的 一 部 分 , 选 址 为 前 巴 西 班 让 发 电 厂 所 在 地 , 它 将 是 本 地 首 个 可 承 担 230 千 伏 特 电 量 的 地 下 变 电 站 。 苏 文 琪 报 道 suwenqi@sph.com.sg 风 险 也 较 小 。 这 将 增 强 电 力 资 产 和 电 网 的 安 全 性 。” 黄 天 源 补 充 说 , 凭 借 集 团 在 全 岛 建 设 地 下 电 缆 隧 道 方 面 的 丰 富 经 验 , 他 们 将 能 应 付 这 个 复 杂 的 项 目 。 “ 有 了 从 这 个 项 目 中 吸 取 的 知 识 与 经 验 , 我 们 可 以 探 讨 在 地 下 建 设 更 多 变 电 站 的 可 能 性 。” 确 保 变 电 站 不 会 积 水 新 加 坡 工 程 师 学 会 机 电 工 程 技 术 委 员 会 副 主 席 李 镇 鹏 受 访 时 说 , 为 了 确 保 整 个 项 目 的 安 全 性 , 发 展 商 将 面 对 数 个 挑 战 , 包 括 地 面 水 渗 入 地 下 设 施 , 以 及 变 电 站 范 围 内 所 产 生 的 电 磁 辐 射 。 他 解 释 说 , 电 缆 都 是 防 水 的 , 但 电 缆 衔 接 处 和 相 关 电 机 设 备 并 不 防 水 。 如 果 地 面 水 渗 入 变 电 站 , 可 能 导 致 跳 电 并 损 坏 电 机 设 备 。 “ 对 于 230 千 伏 特 电 量 的 变 电 站 , 停 电 将 造 成 大 范 围 影 响 。 因 此 , 确 保 地 下 变 电 站 永 远 不 会 积 水 是 非 常 重 要 的 。” 新 加 坡 能 源 集 团 选 定 建 设 拉 柏 多 地 下 变 电 站 的 总 承 包 商 , 这 个 电 力 设 施 将 是 东 南 亚 第 一 个 大 型 地 下 变 电 站 。 新 能 源 昨 天 发 文 告 宣 布 , 变 电 站 的 建 筑 合 约 由 韩 国 现 代 工 程 建 设 公 司 (Hyundai Engineering & Construction) 标 得 。 拉 柏 多 (Labrador) 地 下 变 电 站 是 市 区 重 建 局 2019 年 发 展 总 蓝 图 的 一 部 分 , 选 址 为 前 巴 西 班 让 发 电 厂 所 在 地 , 它 将 是 本 地 首 个 可 承 担 230 千 伏 特 (kV) 电 量 的 地 下 变 电 站 。 预 计 2024 年 完 工 这 个 发 展 计 划 将 变 电 站 设 施 移 至 地 底 , 可 腾 出 三 公 顷 的 黄 金 地 段 , 相 当 于 四 个 足 球 场 。 变 电 站 和 地 面 的 34 层 楼 商 业 建 筑 预 计 在 2024 年 完 工 。 新 能 源 集 团 总 裁 黄 天 源 在 文 告 中 说 , 这 个 项 目 符 合 新 加 坡 的 市 区 更 新 计 划 以 及 联 合 国 的 可 持 续 发 展 目 标 , 确 保 人 人 能 享 有 可 靠 和 可 持 续 的 现 代 能 源 , 并 建 设 新 加 坡 能 源 集 团 将 在 前 巴 西 班 让 发 电 厂 所 在 地 兴 建 本 地 最 大 的 地 下 变 电 站 , 工 程 预 计 2024 年 完 工 。( 何 家 俊 摄 ) 可 持 续 的 基 础 设 施 。 变 电 站 投 入 运 作 后 , 将 满 足 亚 历 山 大 、 金 文 泰 、 岌 巴 (Keppel)、 巴 西 班 让 和 科 学 园 区 等 附 近 市 镇 的 电 力 需 求 。 文 告 也 说 , 一 个 可 承 担 230 千 伏 特 电 量 的 变 电 站 全 力 运 作 时 , 可 为 多 达 八 个 市 镇 供 电 , 每 个 市 镇 的 大 小 相 当 于 大 巴 窑 的 面 积 。 新 能 源 指 出 , 与 在 地 面 上 建 造 变 电 站 相 比 , 地 下 变 电 站 须 投 入 更 多 资 源 和 专 精 的 工 程 能 力 来 建 设 。 变 电 站 也 须 使 用 不 易 起 火 的 设 备 , 并 安 装 冷 却 系 统 以 防 止 设 备 过 热 。 不 过 , 在 地 下 建 造 变 电 站 的 长 期 利 益 超 过 这 些 成 本 。 文 告 说 :“ 除 了 为 其 他 土 地 用 途 腾 出 空 间 , 地 下 变 电 站 暴 露 和 受 损 的 须 设 计 电 磁 屏 蔽 减 少 干 扰 和 健 康 影 响 至 于 电 磁 场 则 可 能 会 对 敏 感 的 电 子 设 备 造 成 电 磁 干 扰 , 也 可 能 影 响 高 压 电 缆 附 近 人 员 的 健 康 。 李 镇 鹏 说 , 变 电 站 须 有 专 人 设 计 适 当 的 电 磁 屏 蔽 , 以 减 少 电 磁 干 扰 对 地 面 商 业 建 筑 的 影 响 , 并 妥 善 处 理 健 康 方 面 的 顾 虑 。

Singapore Institute of Power and Gas Introduction to Code of Practice for Gas Installation (SS608:2015) and its Applications Course Code: GRG03 COURSE OBJECTIVES Upon completion of this course, participants will be able to: • Know the essential requirements for the safe and good practices in gas service work • Understand the design, materials, installation, testing, commissioning and maintenance of the gas installations and appliances MAIN CONTENTS • Introduction to SS608:2015 (Scope & applications) • Definitions • Design • Pipework • Materials • Installation • Testing & Commissioning • Inspection & Maintenance METHODOLOGY Lecture TARGET AUDIENCE Technical staff who wish to acquire knowledge and perform gas service work COURSE DETAILS Duration : 7 hours Mode of Delivery : Face-to-face or Synchronous E-learning Certification : SIPG Certificate of Completion PDU by PE Board : Pending Additional Requirement/s : Not applicable COURSE FEES Full Course Fee : S$800 (before GST) For Singapore Citizens/PR/LTVP+* : Not applicable For Singapore Citizens (40 years old and above) : Not applicable Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 4.0_0323 Singapore Institute of Power and Gas ADDITIONAL REMARKS • Trainee must attain at least 75% attendance rate and pass the assessment to receive Certificate of Completion and funding grant (if applicable). • Subsidy of up to 70% is applicable for Singapore Citizens, Permanent Residents or Long-Term Visitor Pass Plus (LTVP+) Holders, subject to funding agency’s approval. • Enhanced subsidy of up to 90% is applicable for Singapore Citizens aged 40 years and above, subject to funding agency’s approval. Note that GST payable will be computed from fee after 70% funding. • Professional Development Unit (PDU) is applicable for Professional Engineers registered under the Professional Engineers (PE) Board only. • All published fees are subject to prevailing GST. CONTACT US For more information, please contact SIPG at +65 6916 7930 or email training-institute@spgroup.com.sg. OTHER SIPG COURSES For more courses, visit our website at: https://www.spgroup.com.sg/about-us/training or Scan the QR code below: Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 4.0_0323

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 HDB 1-Room 126 126 132 150 152 149 140 151 148 139 142 128 HDB 2-Room 164 167 173 199 199 195 183 198 192 183 186 166 HDB 3-Room 236 241 250 292 285 277 264 283 277 266 266 243 HDB 4-Room 321 330 342 398 396 383 360 385 381 363 365 338 HDB 5-Room 367 381 399 463 466 448 416 447 446 427 429 397 HDB Executive 456 474 489 575 568 544 515 546 548 520 523 481 Apartment 430 435 486 578 573 543 500 513 539 523 519 486 Terrace 740 794 821 957 900 872 838 847 885 851 851 785 Semi-Detached 1,019 1,038 1,109 1,254 1,224 1,170 1,128 1,126 1,168 1,137 1,141 1,056 Bungalow 2,106 1,951 2,146 2,432 2,360 2,266 2,220 2,121 2,347 2,192 2,190 2,012 Note: The figures exclude electricity consumption for PAYU customers and customers who are not purchasing electricity at the regulated tariff.

Advisory COVID-19: SUSPENSION OF MANUAL READING OF UTILITIES METERS Singapore, 7 April 2020 – While you stay home, SP Group will continue to provide essential services such as operating the national power grid and delivering electricity and gas supply to you. Our officers also continue to be on standby 24/7 to attend to any electricity/gas supply disruption. To protect you and our staff, our meter readers will not be visiting your premises to check your electricity, water and gas meters to record your monthly utilities consumption during the Circuit Breaker period, in line with safe distancing measures outlined by the Singapore government. The earliest appointment to close a utilities account will be available from 2 June onwards. We advise all customers to minimise scheduling appointments to open a utilities account during this period. For those without advanced electricity meters, your April and May utilities consumption will be based on an estimated amount and the difference will be adjusted in your subsequent bills. Alternatively, you can submit your own meter readings conveniently through the SP Utilities mobile app, SP Utilities Portal, Whatsapp, Email or the SP Customer Service Hotline via the automated option. -Ends- About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.6 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. 1

SP Energy HubAnnual ReportReliabilitySustainabilityInnovation The Doctor Is In: Grid Health Checks Prevent Issues RELIABILITY Reading the “pulse” of network equipment, Senior Engineer Dr Lai Kai Xian can tell whether insulation material within the equipment may be breaking down. Like any good physician, Dr Lai Kai Xian is skilled in being able to look, listen and feel. The key difference is that his patient is Singapore’s electricity network, and he diagnoses the grid’s health conditions and fixes these even before they become problems. The 35-year-old electrical engineer is one of eight specialists in the SP Group’s Condition Monitoring team who keeps a close eye on the 11,000 substations and over 28,000km of cables that make up the grid. They are supported by 44 technical officers and technicians who conduct regular health screenings of all equipment on the network, and recommend deeper investigations or treatment when necessary.  Condition Monitoring Senior Engineer Dr Lai Kai Xian uses devices that require various senses – hearing, sight and touch – to assess equipment health, much like a medical doctor. Technicians take the network’s temperature using thermal guns, and listen for abnormal sounds using sensors coupled with headsets that make high frequency sounds audible. Special probes listen for the “pulse” of the equipment, and normal sounds need to be distinguished from ones that could indicate a potential problem. Sounds called transient earth voltage signals could point to internal voids in liquid, air or solid insulation material that are wrapped around cables. These kinds of “partial discharge” summon more varied equipment to pinpoint the source of an abnormality, and allow for early intervention. “These markers tell you where more investigation is needed or where problems could potentially lie so they can be solved before they get any bigger,” explains Dr Lai. He had focused his PhD studies on condition monitoring, and thanks his parents for the opportunity to have done so in Australia. SeniorEngineer Dr Lai Kai Xian (left) with his parents (right) at the 2010 University of New South Wales graduation ceremony. He was awarded a Doctor of Philosophy in Electrical Engineering. Like any emergency room, the most critical cases are attended to first, and more tests can be ordered to make a more accurate diagnosis. It can sometimes make for an intense work day, he concedes. But until his first child arrives in October, the grid is his baby – indeed his personal hobbies include reading technical articles about power systems and new technologies. Condition monitoring affords the grid an additional layer of insurance over scheduled maintenance, making it even more reliable, says Dr Lai. According to Dr Lai, an average of 70 potential problems have been avoided each year over the last five years. And unlike scheduled maintenance work which may require a piece of equipment to be taken out of service to be checked, repaired, or replaced, this pre-emptive approach is non-invasive, requiring no shutdowns. In the long run, keeping the health of a piece of equipment in check also means it lasts longer, he says. More companies are now catching on to these benefits, says Dr Lai, adding that he had trouble finding a job specifically in condition monitoring until he joined SP, a big believer in “preventive medicine”. Online monitoring is also continuously leveraged by SP for the larger 400kV and 230kV substations that make up Singapore’s transmission network, with sensors transmitting real-time data to Dr Lai’s lab. New technologies that can make the grid more robust are also regularly assessed, adds Dr Lai, also a “doctor-on-call” for casual queries from other departments, thanks to friendships forged with colleagues through weekly badminton sessions. Getting to the root of the problem is one of the things he relishes most about his role in SP’s network reliability, especially since diagnosis can be as much of an art as a science, and prompts spirited debates. “You need to be able to look beyond the obvious with data. Every single case is different, requiring both tools and thinking. That is the challenge that I love.” — 13 June 2019 TAGS PEOPLE OF SPRELIABILITY YOU MIGHT BE INTERESTED TO READ How this 'grid doctor' maintains the health of Singapore's electricity network so everything stays on Ground feedback, digital tools: How she helps 8,000 workers end their day safely Faster repairs, fewer disruptions: Meet the innovative teams using smart tech to keep your piped gas supply flowing

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 HDB 1-Room 143 146 144 135 126 126 132 150 152 149 140 151 148 139 142 128 127 121 119 128 136 150 143 150 HDB 2-Room 189 190 188 176 164 167 173 199 199 195 183 198 192 183 186 166 168 161 156 169 181 195 190 195 HDB 3-Room 269 274 269 247 236 241 250 292 285 277 264 283 277 266 266 243 238 231 231 250 265 284 273 280 HDB 4-Room 367 374 370 342 321 330 342 398 396 383 360 385 381 363 365 338 327 320 309 341 363 390 381 388 HDB 5-Room 427 437 436 401 367 381 399 463 466 448 416 447 446 427 429 397 379 374 359 399 425 457 450 459 HDB Executive 528 541 530 478 456 474 489 575 568 544 515 546 548 520 523 481 462 458 445 495 522 562 554 562 Apartment 515 537 541 483 430 435 486 578 573 543 500 513 539 523 519 486 446 419 417 476 516 548 536 541 Terrace 859 890 881 804 740 794 821 957 900 872 838 847 885 851 851 785 747 744 714 775 823 881 848 866 Semi-Detached 1,150 1,187 1,174 1,065 1,019 1,038 1,109 1,254 1,224 1,170 1,128 1,126 1,168 1,137 1,141 1,056 1,000 974 960 1,031 1,080 1,173 1,123 1,121 Bungalow 2,298 2,308 2,358 2,075 2,106 1,951 2,146 2,432 2,360 2,266 2,220 2,121 2,347 2,192 2,190 2,012 2,004 1,872 1,904 2,016 2,154 2,244 2,175 2,168

Media Release Electricity Tariff Revision For The Period 1 April To 31 June 2016 For the period from 1 Apr to 30 Jun 2016, electricity tariffs will decrease by an average of 9.6% or 1.83 cents per kWh compared to the previous quarter. The tariff reduction is due to the lower cost of natural gas for electricity generation which fell by 20.2% compared to 1Q 2016. While network costs went up due to infrastructure investment to replace ageing assets and meet rising electricity demand, the lower cost of natural gas more than offset this increase. For households, the electricity tariff will decrease from 19.50 to 17.68 cents per kWh for 1 Apr to 30 Jun 2016. The average monthly electricity bill for families living in four-room HDB flats will decrease by $6.71 (see Appendix 3 for the average monthly electricity bill for different household types). SP Services reviews the electricity tariffs quarterly based on guidelines set by the Energy Market Authority (EMA), the electricity industry regulator. The tariffs given in Appendix 1 have been approved by the EMA. Issued by: SP Group 2 Kallang Sector Singapore 349277 www.spgroup.com.sg Appendix 1 ELECTRICITY TARIFFS FROM 1 APR 2016 Appendix 2 BREAKDOWN OF ELECTRICITY TARIFF 1. The electricity tariff consists of the following four components: Energy costs (paid to the generation companies): This component is adjusted quarterly to reflect changes in the cost of power generation. Network costs (paid to SP PowerAssets): This fee is reviewed annually. Market Support Services Fee (paid to SP Services): This fee is reviewed annually. Market Administration and Power System Operation Fee (paid to Energy Market Company and Power System Operator): This fee is reviewed annually to recover the costs of operating the electricity wholesale market and power system. Q2 2016 TARIF Appendix 3 AVERAGE MONTHLY ELECTRICITY BILLS OF DOMESTIC CUSTOMERS (TARIFF WEF 1 APRIL 2016)

Singapore Institute of Power and Gas High Voltage Cable Jointing Techniques Course Code: ECL05 COURSE OBJECTIVES Upon completion of this course, participants will be able to: • Understand the various types of HV cables, cable joints and terminations used in the SP PowerAssets system • Learn the common causes of failure MAIN CONTENTS • Parts & components of HV cables • Importance of every layer of HV cables • HV cable jointing tools for jointing preparation works (including safety procedures and SOP) • Different types of HV (6.6kV & 22kV) joints & terminations used in SPPG • Procedures of HV cable jointing including the Quality Assurance Checklist for 22kV cable joints • Sequence of crimping and materials used for cable connection, stress-control relief and overall waterproof protection, etc • Common causes of HV failures in relation to cables, joints and terminations • Construct specific portion of HV joint for XLPE cable METHODOLOGY Lecture and hands-on training TARGET AUDIENCE Engineering and technical staff who are required to carry out, supervise or inspect HV cable jointing work COURSE DETAILS Duration : 21 hours Mode of Delivery : Face-to-face or Synchronous E-learning Certification : SIPG Certificate of Completion PDU by PE Board : 21 Additional Requirement/s : Personal Protection Equipment (PPE) must be worn during practical session. PPE includes: • Safety Shoes • Rubber Gloves • Fire Retardant Clothing (FRC) • Face Shield COURSE FEES Full Course Fee : S$2,950 (before GST) For Singapore Citizens/PR/LTVP+* : NIL For Singapore Citizens (40 years old and above) : NIL Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 4.0_0323 Singapore Institute of Power and Gas ADDITIONAL REMARKS • Trainee must attain at least 75% attendance rate and pass the assessment to receive Certificate of Completion and funding grant (if applicable). • Subsidy of up to 70% is applicable for Singapore Citizens, Permanent Residents or Long-Term Visitor Pass Plus (LTVP+) Holders, subject to funding agency’s approval. • Enhanced subsidy of up to 90% is applicable for Singapore Citizens aged 40 years and above, subject to funding agency’s approval. Note that GST payable will be computed from fee after 70% funding. • Professional Development Unit (PDU) is applicable for Professional Engineers registered under the Professional Engineers (PE) Board only. • All published fees are subject to prevailing GST CONTACT US For more information, please contact SIPG at +65 6916 7930 or email training-institute@spgroup.com.sg. OTHER SIPG COURSES For more courses, visit our website at: https://www.spgroup.com.sg/about-us/training or Scan the QR code below: Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 4.0_0323

“SunSPEC6” 每 次 充 电 最 远 能 行 驶 1000 公 里 , 相 当 于 从 新 加 坡 到 怡 保 来 回 跑 一 圈 。 新 加 坡 理 工 学 院 能 源 系 统 与 管 理 文 凭 三 年 级 学 生 郑 杰 怡 说 , 除 了 工 程 系 不 同 专 业 学 生 须 相 互 合 作 赶 上 进 度 , 车 子 没 有 获 准 在 本 地 公 路 上 测 试 , 也 使 得 准 备 工 作 充 满 挑 战 。( 陈 勇 志 摄 ) 新 理 工 学 生 设 计 太 阳 能 车 参 加 澳 洲 3000 公 里 赛 卢 凌 之 报 道 lulz@sph.com.sg 大 红 色 的 流 线 型 车 身 搭 配 车 顶 炫 黑 的 太 阳 能 板 与 硕 大 的 车 窗 , 一 辆 形 似 在 科 幻 片 中 出 现 的 跑 车 昨 天 上 午 在 新 加 坡 理 工 学 院 校 园 内 徐 徐 驶 过 , 吸 引 路 人 好 奇 的 目 光 。 这 是 该 院 17 名 学 生 花 一 年 时 间 设 计 并 打 造 的 太 阳 能 车 “SunSPEC6”。 他 们 将 是 今 年 10 月 一 项 世 界 级 太 阳 能 车 比 赛 唯 一 代 表 新 加 坡 参 加 的 队 伍 。 两 年 一 度 的 世 界 太 阳 能 车 挑 战 赛 被 誉 为 全 球 最 为 艰 难 的 太 阳 能 车 赛 之 一 。 车 辆 从 澳 大 利 亚 北 部 达 尔 文 出 发 , 穿 过 中 部 荒 野 , 开 到 南 岸 阿 德 莱 德 , 全 程 3000 公 里 。 第 三 次 参 赛 的 新 加 坡 理 工 学 院 将 参 加 Cruiser 类 别 比 赛 , 以 打 造 最 接 近 普 通 轿 车 的 太 阳 能 车 为 目 标 。 除 了 要 完 赛 , 主 办 方 还 会 考 量 汽 车 的 设 计 、 效 能 和 载 重 等 指 标 。 阳 光 若 充 沛 可 边 行 驶 边 储 电 参 与 汽 车 电 池 制 作 的 新 加 坡 理 工 学 院 能 源 系 统 与 管 理 文 凭 三 年 级 学 生 郑 杰 怡 (19 岁 ) 介 绍 , 车 上 搭 载 的 太 阳 能 芯 片 将 吸 收 到 的 光 能 转 化 成 电 能 , 储 存 在 25 千 瓦 时 的 锂 电 池 内 , 为 车 辆 提 供 动 力 。 由 于 不 需 燃 烧 化 石 燃 料 , 因 此 能 最 大 限 度 减 少 碳 排 放 。 郑 杰 怡 说 , 团 队 改 进 电 动 车 性 能 后 , 车 子 在 阳 光 充 沛 的 情 况 下 可 边 行 驶 边 储 电 , 电 池 储 量 较 上 一 代 增 加 三 成 。 全 车 重 量 仅 为 450 公 斤 , 是 市 面 上 常 见 家 用 轿 车 重 量 的 40%。 以 时 速 100 公 里 轮 流 开 车 另 有 后 勤 车 队 护 航 “SunSPEC6” 车 内 设 有 两 个 座 位 , 学 生 们 在 白 天 将 以 时 速 每 小 时 100 公 里 轮 流 开 车 , 还 有 后 勤 车 队 保 驾 护 航 。 郑 杰 怡 说 , 团 队 也 会 提 早 到 达 澳 洲 , 进 行 路 面 测 试 和 汽 车 调 试 。“ 例 如 根 据 当 地 天 气 状 况 考 虑 减 少 车 内 电 池 , 这 样 便 可 减 轻 车 子 重 量 。 我 们 也 做 好 准 备 在 停 车 点 周 围 扎 营 野 炊 , 以 尽 早 完 赛 。” 作 为 新 能 源 集 团 与 新 加 坡 理 工 学 院 自 2015 年 起 展 开 的 五 年 合 作 项 目 , 新 能 源 为 学 院 提 供 100 万 元 资 金 , 支 持 学 生 参 加 世 界 太 阳 能 车 挑 战 赛 。 新 能 源 电 网 主 席 秦 永 国 说 : “ 学 生 年 纪 还 小 的 时 候 就 接 触 实 际 工 程 操 作 , 能 让 他 们 在 为 新 加 坡 创 造 一 个 更 可 持 续 发 展 的 未 来 时 占 得 先 机 。” Source: Lianhe Zaobao © Singapore Press Holdings Limited. Permission required for reproduction.

ty is a tariff imrts believed to rket value. sed on prelimanti-dumping se authorities 7. ommerce said three regions d butyl rubber priate prices, ic industry. rubber, also tain air pressure without the need for tubes. A spokesman from Singapore’s Ministry of Trade and Industry (MTI) said the government is following developments closely and engaging with Chinese authorities as well as affected companies. Stakeholders can submit written representations to the Chinese authorities within 10 days of the announcement. S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION | businesstimes.com.sg | fb.com/thebusinesstimes | @BusinessTimes | CO REGN NO 198402868E | MCI (P) 051/12/2017 Friday, April 20, 2018 China’s Ministry of Commerce will The rubber duties could hit global firms operating synthetic rubber facilities in Singapore. German petrochemical giant Lanxess opened a 400 million euro butyl rubber plant on Jurong Island in 2013. The 150,000 sq m plant was the largest investment in the company’s history, and its first venture in Singapore. Meanwhile, ExxonMobil has been building a new halobutyl rubber facility at its petrochemical complex on num. An ExxonMobil spokesman said the group is “carefully studying the preliminary findings and will continue our cooperation with the relevant authorities”. “ExxonMobil and its affiliates are committed to operating ethically, responsibly and in full compliance with the laws, rules and regulations of all countries that are applicable to the business,” the spokesman added. Lanxess did not respond to queries by press time. Most analysts believe the two sides will eventually reach a compromise and avoid a full-blown trade war. Earlier this week, the US banned American companies from selling parts to Chinese telecom equipment maker ZTE for seven years, while China on Tuesday announced hefty anti-dumping tariffs on imports of US sorghum. China’s Ministry of Commerce said in a statement that local businesses were “substantially damaged” by American sorghum imports. RIVERSIDE GEM Kampong Bugis master developer Sembawang Shopping tender to Land be launched Mall Trust in 1-2 years REAL ESTATE / 17 REJUVENATING SEMBAWANG Lian Beng JV buys Sembawang Shopping Centre for S$248m TOP STORIES / 2 STRONGER REVENUES Keppel Corp Q1 profit leaps 34% buoyed by property division COMPANIES & MARKETS / 6 ELECTRIC DREAMS Tesla charges into Singapore MOTORING / 30 MARKETS STI KL COMP NIKKEI 225 HANG SENG SHENZHEN B DOW (11.00 EDT) Thursday 3,598.73 1,895.18 22,191.18 30,708.44 1,110.68 24,709.41 Change +40.91 +15.86 +32.98 +424.19 +0.50 -38.66 S$126 million erty as at last was commisarried out by capitalisation nted-cashflow , on the other arket-compart its bid price market condiarket prices of ty. works out to ) for the mall, r area (GFA) of y its total net 143,631 sq ft, . ive chairman usiness Times ring that Sem- Centre is a property, we e price in per onable.” than 99 per er’s purchase s ilies st year, Council to mote skills orkforce. eir business d, DBS Bank nion leaders ill sets worke bank transtal age. meet every to “focus the TUC labour g, from the ing body in ittee, all the n promoting grading for n said the orxpanded the fforts in the inue to do so o Minister in ice, declined menting on o a new role ffle, which is nced in the nt the labour e to carry out e were to be he upcoming was made for property-investment tail units and three carpark levels purpose or for recurring rental collection, ❚❚ DAILY he said. Lian Beng described the proposed with 165 parking spaces. Separately, DIGEST Terence Tang, managing director of capital markets and investment The worst of US-China services trade of Colliers International (Asia) noted that, based on vestments. tensions appears to be over as both sides ramp up the negotiations, current says income JP Morgan from the mall, the A deposit of S$24.8 million, or 10 Asset Management in its Four known parties are currently wooing India’s second-largest hospital chain as it struggles with cash flow and rising debt purchase price of S$248 million per cent of the purchase consideration, has been paid by LBAS; the bal- market outlook, but volatility would work out to a net income in equity markets will be By Janice yield Heng price not exceeding 160 rupees per Fortis – India’s second-largest hospital chain with about 30 hospitals – said they would meet on Thursday to On Monday, the board of Fortis (gross affected by revenue headline “noise” less operating janiceh@sph.com.sg expenses) of 4.2 per cent. ance will be share. paid on or around June @JaniceHengBT and continued quantitative The statement did not say what has been struggling with insufficient consider all options. In a regulatory 18, upon completion of the acquisition. Singapore stake a 40-billion rupee investment cash and increased debt, with regulators also investigating allegations that had also received a letter from filing late on Tuesday, Fortis said it tightening. TOP STORIES / 4 In July last year, Lian AS Beng more suitors and join in the pursuit of would buy and how the potential investment said its will proportionate be funded. But based its founders took funds without Chinese conglomerate Fosun Interna- India’s Fortis Healthcare, Lian Singapore-listed IHH Healthcare is doub- Fortis’s 514.7 million shares as at board approval. The founders deny tional offering to invest up to US$350 Beng Apricot Noble Group will Capital drop a had acquired purchase consideration of S$124 million mixed-used provision from its commercial and ling down residential building Wilkie Edge near Little In- with a dowry offer of up to end-March and a share price of 160 rupees, a 40-billion through rupee bank investment bor- The IHH 999-year has a market cap leasehold of S$16.8 bil-Sembawang share, in return for Shopping less than a quarter Centre has four floors of wrongdoing. million, or 156 rupees per Fortis restructuring proposal that 40 billion rupees (S$796 million) will for be a funded has drawn criticism for stake in the Indian hospital chain. would mean a 48.2 per cent stake in lion, and reported a net profit of of the firm. rowings or internal resources. attempting to treat Should the offer materialise and Fortis. RM101.3 retail units million (S$34.18 and three million) carpark in And levels yesterday, with Fortis 165 said it had parking received an improved PHOTO: binding CAPITALAND offer GROUP spaces. It is now dia for S$280 million from Capita- In a filing to the Singapore bourse the more quarter than ended 99 Dec per 31. cent occupied. shareholders differently get accepted, it could be one of the IHH, which is also listed in Malaysia, CMT said: “The said infusion the is divest- intended to Land Commercial Trust. That price Fortis has a market cap of 77 billion rupees, and reported a net loss of worth 15 billion rupees from Hero Enterprise Investment Office and Bur- depending on how they vote. biggest equity transactions Thursday, abroad by worked out to S$1,299 psf a Singapore-listed based on firm. fund the buyout of the assets from COMPANIES & MARKETS / 6 ment is expected to generate net proceeds by the board of about of immediate S$245.6 liquidity million, towards and working a 191 million rupees for the quarter man Family Office, up from the Indian consortium’s previous offer of GFA, and S$1,812 psf based IHH’s on latest the move came ahead of RHT Health Trust as well as provide Looking ahead, Colliers International’s Mr Tang said he believes the e-commerce on the local retail market he said. Additionally, the impact of ended Dec 31. yesterday’s meeting United Overseas Bank has Last week, IHH was reported to 12.5 billion rupees. The consortium’s building’s NLA. Fortis to consider its net options gain amid of about capital S$119.6 and infrastructure million. upgrades.” have offered to buy Fortis at a price proposal is to invest 5 billion rupees appointed Wee Ee Lim, 56, Among other terms of bids sale, by various Sem-partiesbawang non-executive Shopping director, from Centre India-listed Fortis is the sponsor retail valuing the market chain at in about Singapore US$1.3 billion (S$1.7 billion), higher than the and 10 billion rupees through the is- has via preferential “stabilised, with long-term recovery within is limited as consumers still visit issue of equity shares as a non-independent, Tony Tan, In a regulatory filing yesterday, of chief the mainboard-listed executive of RHT CMT Health the Malaysian is being shopping centres for “retail therapy healthcare Management, firm said it Trust. said: In February, “As the RHT’s mall trustee-manager had signed a S$950 million deal accounts for only about one per cent of roughly US$1.2 billion valuation offer sue of warrants. or experiential shopping”, he added. sold July 1. subject Mr Wee is to the existing son of tenancies “issued a strictly and non-binding letter sight”. made by Fortis’ Unlike Indian other rival markets, Manipal where Interestingly, it IHH was engaged UOB chairman emeritus Wee “to the Fortis board on Wednesday, expressing for Fortis to buy the trust’s entire portfolio. value, its sale will is easy to convert non-retail land us- Shares in Lian Beng last traded 0.8 Health Enterprises. a takeover battle with Fortis in 2010, licences. Major tenants at Cho Yaw and the brother of the mall its readiness include CEO Wee Giant, Ee Cheong. Yamaha Music 40 billion School, rupees through CMT’s to inject total up asset But Fortis had initially declined to when both parties sought per cent control higher for to close at S$0.635 have a preferential allotment of equity shares at a knowledged receipt of the letter. talks with Manipal. Asia’s biggest healthcare operator. pees. minimal impact IHH said the on Fortis CMT’s board financial performance and distribution per ited supply of retail assets in Singa- traded 0.5 per cent higher to close at has acage consider into other retail options centres, while it was there in Singapore’s is a lim- Parkway Holdings, then apiece on Thursday; units in CMT Food COMPANIES Junction & MARKETS and / 10Daiso Japan. The building has four floors of re- unit.” pore, due in part to the Master Plan, S$2.12 per unit. Top investment picks By Genevieve Cua US$1 million in investable assets (excluding property). The markets in- Queen Elizabeth II hopes for gen@sph.com.sg Sweden’s move to become Singapore cluded Germany, Hong Kong, the US the world’s first cashless and UAE. In Singapore, 400 individu- competing with private banks. BANKING & FINANCE / 16 She wishes Prince Charles will carry on the work her father began in 1949 Oil futures jumped nearly 3 per cent on Wednesday on a decline in US crude stocks and after sources said top exporter Saudi Arabia wants to see the crude price closer to US$100 a barrel. ENERGY & COMMODITIES / 20 QUEEN ELIZABETH II on Thursday expressed Gene-editing hope technologies that her son Prince that alter mosquitoes’ DNA Charles would carry on the important against work malaria, of says reinvigorating Bill the Com- could prove critical in the fight monwealth, Gates, and ethical as concerns she opened the Commonwealth should not block progress Heads in of Government such gene-modifying Meeting (CHOGM) in London. research. TECHNOLOGY / 21 She received long and loud applause from the leaders of the 53 Commonwealth countries in a demonstration of their gratitude for her service to the network she has Artificial intelligence and robotics are fast becoming part of the tools of war, an evolution that will redraw the battle lines and form new businesses for the defence sector. This Saturday, our Brunch feature in The Business Times Weekend sets out some of the emerging technologies and concepts that will change the future of warfare. In The Raffles Conversation, HP Inc CEO Dion Weisler tells how Silicon Valley has reinvented itself. Looking Speaking at bank before airline the stocks? Queen, CFA Singapore Prince Insights in the Investing & Wealth section this weekend spells out the fundamentals that have impact on the banking sector. The Fool’s Eye View meanwhile checks out airlines and whether Warren Buffet’s recently placed faith in them is justified. Also in the paper this Saturday, BT talks to fashion designer The Stella Prince McCartney, of Wales who has added gone where that few he designers do and bought back full control of her brand from luxury giant Kering. What do Hurricane Irma and Siri have in common? There’s no skirting the issue – personification of objects or phenomena is often coloured by an unmistakable gender bias, says Sass & The City. Gearhead reviews Dell’s latest ultrabook, the XPS 13, and finds that despite several shortcomings, it’s IHH ups ante in Fortis courtship acquisition as a “strategic investment”, with 40-billion in line with one of the group’s rupee stake offer core business activities in property in- Even millionaires have cost worries if they live to a 100 CLOSE to half of Singapore’s millionaires expect to live to 100, society reinvigoration has raised concerns of and this is the als were polled Commonwealth between December health is more important than growing their wealth. the central bank. Plus, an driving significant changes to their 2017 and April 2018. electronic currency risks spending, investing and legacy beha- Singapore’s average life expect- The average wealthy Singaporean viour, a study by UBS has found. UBS Investor Watch Research has found that 46 per cent of those polled in Singapore expect to live to 100, compared to 53 per cent globally. The expectation of a long life is creating anxiety, however, as 42 per cent worry that their wealth will not support them till age 100. Of these, 66 per cent worry about the rising costs of healthcare, Londonand 63 per cent worry about whether they can afford their current lifestyle in retirement. In Asia, 45 per cent worry about their wealth lasting till 100, compared to 21 per cent in Europe. Investment behaviour is expected to shift as 45 per cent plan to adjust their long term financial plans and 46 per cent their spending patterns. The research surveyed 5,000 millionaires in 10 markets, with at least you to my own home.” The future of warfare in BT Weekend headed since 1952. Succession to her role in the Commonwealth, which is not hereditary, is said to be one of the topics for discussion at this year’s biennial gathering, which is expected to be the last the monarch will attend. At 92, she has cut down on long-haul travels. Charles, 69, described the Commonwealth as a fundamental feature of his life for as long as he could remember, starting with his first visit to Malta when he was five years old. had been fortunate over the years to meet and talk with “so many giants of the Commonwealth” including Singapore’s founding prime minister Lee Kuan Yew, the father of Prime Minister Lee Hsien Loong. Continued from Page 1 How it would eventually earn revenue through the platform is yet to be determined, said chief executive Wong Kim Yin. While the platform is targeted at companies, SP does not rule out having individuals as buyers, which would effectively enable peer-to-peer energy trading. With the platform transacting only RECs and not energy itself, it will not need the prior approval of energy regulator Energy Market Authority, SP said. The platform would also be an international one, as the blockchain infrastructure enables transactions to ancy, based on World Health Organisation data last year, was 83.1 years, compared to 83.4 in Switzerland and Britain is hosting the summit for the fourth time. The famed April showers gave London a miss as the leaders, including Mr Lee, arrived at Buckingham Palace. A guard of honour, regimental band and flag bearers welcomed them as they streamed into the ballroom in their formal suits and colourful national costumes. The Queen, dressed in a turquoise ensemble, arrived at 10.10am and in her welcome address, said: “Having on so many occasions been welcomed to the opening ceremonies around the Commonwealth, it is a pleasure this time to welcome 83.7 years in Japan. Hartmut Issel, UBS head of Asia Pacific equities and credit (chief investment office), said: “It it heartening to note that many Singaporeans already have a financial plan in place, and are adjusting their investment portfolios in preparation for a longer life span.’’ The silver lining is that almost 80 per cent have a financial plan in place. “If 80 per cent see the need to plan for the long term, it tells us that 20 per cent don’t hold that view strongly. We need to reach that 20 per cent as well to have a discussion on life expectancy. You need to think about how you invest and put a plan in place.’’ Singaporean millionaires believe It was in Buckingham Palace that the Commonwealth was formed in 1949, with just eight nations. Today, the network of nations with past links to the British Empire, ranging from giant India to the small Pacific nation of Nauru, represents 2.4 billion people. Queen Elizabeth said the advantages of the network were plain to see, with an increasing emphasis on trade between Commonwealth countries and joint initiatives bringing about change on a global scale. Expressing her preference for the first time, she said it was her sincere wish that the grouping would one day decide to have Prince Charles, her oldest child, “carry on the important work started by my father in 1949”. But she also said she was mindful that the Commonwealth draws its still one of the best-performing and best-looking laptops around. And in The Finish Line, an interview with Lagardere Sports vice-president of tennis Sarah Clements on this year’s fifth and final edition of the BNP Paribas WTA Finals Singapore tournament. To subscribe, visit bt.sg/subscribe take place across countries. “This marketplace is global immediately,” said Mr Wong. Solar adoption in Singapore is still low. Installed capacity was only 145 megawatts-peak as at the end of last September, compared to peak system demand of about 7,000 megawatts. But SP hopes the platform would be ready when solar energy takes off in the country. SP managing director of digital technology Chang Sau Sheong said: “It’s always a chicken-and-egg story. We want to use this to drive the adoption of solar.” A similar registry for REC was PM LEE IN LONDON being healthy is the top priority: 83 per cent worry that their health will deteriorate over the next 10 years and 92 per cent say investing in their would sacrifice around a third of their wealth today if that could guarantee another 10 years of healthy life. The majority (85 per cent) believe that activity and work have positive effects on health. In fact 68 per cent expect to work longer than the traditional retirement age to maintain their lifestyle. On legacy planning, 51 per cent plan to give more away while they are still alive. Over half plan to give more to their grandchildren than their children, believing that it will be more useful at their stage of life. On investments, Singapore’s high net worth individuals picked healthcare as their top choice for long term investment opportunities. Equities and real estate were also favoured, but so was cash, which was picked by 40 per cent of respondents. In Asia cash was favoured by 52 per cent. By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore POWER grid operator SP Group is tapping blockchain technology to link up residential and other small producers of solar energy with businesses that have a carbon footprint. The blockchain-enabled digital platform – expected to be a global first when launched by the end of this year – could speed up the use of solar panels and also offer a variation of carbon emissions trading. It would transform the local market that has until now been domin- leaders. ated by large producers and buyers of solar energy by also accelerate the adoption of solar photovoltaics (PV) in Singapore, said the Temasek-owned firm. The platform, developed by an in-house SP team, allows those with registered solar PV panels to display the amount of renewable energy they have produced in the form of renewable energy certificates (RECs). 50 40 30 20 10 80 60 40 20 Mr Lee was expected to speak on some of these issues at Thursday afternoon’s meetings for leaders and of- Companies or other organisations can purchase these to offset their carbon emissions. The platform enables buyers to filter listings by various criteria, including the amount of energy, originating country and asset type. RECs represent electricity produced using environmentally friendly processes. They are similar to the concept of carbon emissions trading, but measured in kilowatt hours instead of tonnes of avoided carbon. Companies with a mandate to use green power, but without the ability to invest in their own solar panels or other renewable energy sources, often buy RECs to offset their energy consumption. REC registries and can be trade. found in countries such as India, the US and Australia; these require independent certification parties to verify that the electricity represented by the RECs is green and that no double ficials. counting of environmental benefits has taken place. Fortis had initially bought TPG’s 23.9 per cent stake in Parkway for S$959 million. IHH (in its previous life as Integrated Healthcare Holdings) then followed suit with a S$1.18 billion partial offer to raise its stake in Parkway from 23.8 per cent to 51.5 per cent. Two general offers later, IHH ended the tussle with a S$3.5 billion price tag and delisted Parkway. It subsequently consolidated its hospital operations, largely in Singapore, Malaysia and Turkey, before launching a dual listing in Singapore and Malaysia in 2012. Today, the group runs healthcare facilities under the “Mount Elizabeth”, “Gleneagles”, “Pantai”, “Parkway” and “Acibadem” brands, and has more than 10,000 licensed beds in 50 hospitals across 10 countries. In Singapore, IHH shares gained 0.49 per cent to close at S$2.04 on Thursday. In India, Fortis shares gained 2.66 per cent to 148.45 ru- Which sectors offer the strongest investment opportunities for the very long-term (more than 30 years)? (%) Global Hong Kong Singapore Taiwan Healthcare Financials Real Estate IT Consumer staples Which asset classes offer the strongest investment opportunities for the very long-term (more than 30 years)? (%) Materials Global Hong Kong Singapore Taiwan Equities Real Estate Bonds Cash Alternatives Others SP Group to launch platform for home owners to sell solar energy certs mandate from the countries and its British Prime Minister Theresa May, the meeting’s host, thanked the Queen and the Royal Family for being the Commonwealth’s most steadfast and fervent champions and for nurturing the organisation. She urged launched by American environmental infrastructure solutions provider APX two years ago, with the Solar Energy Research Institute of Singapore as the third-party verification agency. APX did not respond to The Business Times’ queries on how well the registry has performed since then. The announcement by SP comes as activity picks up in Singapore’s solar sector, with generation companies such as Sembcorp Industries and Senoko Energy venturing into developing solar systems in the past two years, though the solar generation market is still dominated by solar developer Sunseap. Source: UBS SP’s platform will not require such verification because the blockchain system eliminates the possibility of fraud and double counting, said the firm. Furthermore, with the platform, buyers and sellers would no longer have to spend time and effort working out bilateral agreements for solar energy, as is the case in Singapore today. All of these combined means the platform would help users reduce their transaction and administrative costs in selling or buying solar energy, SP said. SP chief digital officer Samuel Tan, who was in Germany to present the platform at a energy-sector blockchain event, told reporters in a video conference: “By aggregating the masses, we hope that this will help the buyers to meet their sustainability goal.” SP plans to roll out the platform by the end of the year, and will make it free to use at the start. Continued on page 2 Prime Minister Lee Hsien Loong meeting Britain’s Prince Andrew in London on Wednesday, ahead of the official opening of CHOGM. This is the fourth time since 1949 that Britain is hosting the summit. PHOTO: MCI the leaders to work together to tackle some of the 21st century’s biggest issues, such as climate change and threats to a rule-based world order SP Group’s new platform for home owners to sell solar energy certs Sunseap and energy startup Sun Electric are among the pioneers in Singapore in separating the generation of solar power from its consumption. In November 2015, Sunseap signed a deal with Apple for the tech giant to receive power generated by solar-energy systems on the rooftops of other buildings, on top of that generated by its own. Sun Electric, which started operations in 2013 and currently has 2MW of solar capacity installed, connects organisations wishing to adopt renewable-energy options but which are hobbled by space constraints, with parties with excess rooftop space. Source: The Business Times © Singapore Press Holdings Limited. Permission required for reproduction.

Consumption_Elect Average consumption of Electricity (kWh) Premises Types Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 HDB 1-Room 121 119 128 136 150 143 150 136 136 144 127 124 HDB 2-Room 161 156 169 181 195 190 195 177 177 188 164 165 HDB 3-Room 231 231 250 265 284 273 280 257 259 271 242 239 HDB 4-Room 320 309 341 363 390 381 388 358 355 377 334 330 HDB 5-Room 374 359 399 425 457 450 459 423 417 444 392 386 HDB Executive 458 445 495 522 562 554 562 520 513 546 478 472 Apartment 419 417 476 516 548 536 541 513 501 538 500 451 Terrace 744 714 775 823 881 848 866 817 818 836 785 734 Semi-Detached 974 960 1,031 1,080 1,173 1,123 1,121 1,072 1,056 1,107 1,016 951 Bungalow 1,872 1,904 2,016 2,154 2,244 2,175 2,168 2,190 2,074 2,202 2,040 1,950 Note: The figures exclude electricity consumption for PAYU customers and customers who are not purchasing electricity at the regulated tariff.