FAQs eBusiness Portal 1. Do I need to personally submit documents to SP Group? All supporting documents required for your requests/applications are to be uploaded onto the eBusiness portal. You need not visit SP Group personally to submit documents. 2. Can I access the portal without creating a user account? No, you need a valid user account to access the portal. 3. How many user accounts can I create? You can only create one user account per email address (For LEWs accounts, there can only be one account per LEW licence number). To create a new account, go to the eBusiness portal login page and click “Create new account”. 4. How will I know that my user registration is successful? You will receive a confirmation email containing a link to reset your password if your registration is successful. If you do not receive the email in your inbox, please check your "spam" or "junk" folder. 5. Is the SP eBusiness Portal free to use? Yes, it is. 6. Am I able to delete my user account after creation? No, user accounts cannot be deleted once created. 7. Why is my user account locked? After your account has been activated, your account will be locked if you entered your password wrongly five times. 8. How I do unlock my account? You can reactivate your account by going to the eBusiness portal login page and click “Account login issues”. Select “My account is locked – unlock my account” option. Follow the on-screen instructions and you will receive an email containing a link to reset your password. 9. What should I do if I forget my username and password? Go to the eBusiness Portal login page and click “Account login issues”. Select “Forget User ID / Password” option. Follow the on-screen instructions and you will receive an email containing a link to reset your password. 10. What are the functionalities of the dashboard? You can submit new applications and requests, view progress, upload documents, view/edit applications and download forms in PDF (entering equipment data and submitting claims for SP Contractors/Consultants). 11. The eBusiness portal login page looks quite odd on my computer screen. This website is best experienced on Google Chrome, and Microsoft Edge.

Utility Bill Avg_With Gas Utility Bill Average ($) for households with gas Premises Types Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 HDB 1-Room 80.39 77.86 77.18 78.99 81.28 87.54 87.29 84.83 81.86 87.86 87.69 83.11 HDB 2-Room 94.79 90.73 89.63 91.78 94.78 103.49 102.84 98.53 96.07 102.96 101.39 96.90 HDB 3-Room 118.49 112.22 112.11 115.94 120.33 132.29 128.10 124.29 121.74 129.94 128.83 123.83 HDB 4-Room 140.04 133.47 131.31 137.04 142.66 156.01 153.34 147.42 143.11 152.92 152.86 146.17 HDB 5-Room 148.87 141.61 136.79 144.16 151.97 165.19 162.85 156.27 149.96 161.67 162.41 156.08 HDB Executive 164.43 154.00 153.21 160.98 168.72 184.59 180.19 172.48 168.80 178.86 180.50 172.04 Apartment 177.46 164.16 156.19 163.04 179.66 198.71 191.52 184.01 175.50 181.94 191.11 186.36 Terrace 276.46 260.00 252.25 270.34 290.38 311.38 286.03 283.33 283.80 289.68 301.49 291.00 Semi-Detached 349.78 325.65 324.20 335.52 370.67 392.95 372.29 354.71 361.00 367.73 385.46 366.17 Bungalow 699.45 627.26 650.18 619.13 718.02 776.44 731.30 675.72 711.32 685.95 762.28 719.32 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff. Utility Bill Avg_WO Gas Utility Bill Average ($) for households without gas Premises Types Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 HDB 1-Room 71.86 69.16 67.69 69.30 71.92 78.05 78.52 76.28 73.55 78.77 78.62 74.36 HDB 2-Room 85.94 81.99 80.46 82.23 85.21 93.42 93.59 89.84 87.41 93.80 92.26 88.22 HDB 3-Room 106.15 100.27 99.66 102.84 107.06 118.11 115.38 112.09 109.70 116.95 115.78 111.35 HDB 4-Room 124.99 118.78 116.20 120.97 126.03 138.53 137.64 132.74 128.46 137.02 136.76 130.76 HDB 5-Room 132.27 125.43 120.56 126.60 133.43 145.81 145.63 140.07 134.00 144.16 144.59 138.87 HDB Executive 146.81 137.03 135.88 142.35 149.14 163.91 161.79 155.45 151.54 160.36 161.59 153.95 Apartment 156.79 144.07 135.03 140.09 155.96 175.31 171.33 164.80 156.02 161.06 169.18 164.23 Terrace 251.12 235.05 227.31 243.21 259.98 282.50 262.69 259.01 258.83 264.59 274.69 263.93 Semi-Detached 319.99 297.18 295.56 305.12 337.24 359.90 342.81 328.12 331.78 338.46 354.82 336.52 Bungalow 650.72 578.80 597.47 570.77 662.48 717.39 678.65 633.29 661.40 638.62 711.71 667.03 Note: The figures exclude electricity charges for PAYU customers and customers who are not purchasing electricity at the regulated tariff.

Consumption_Water Average consumption of Water (CuM) Premises Types Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 HDB 1-Room 7.8 7.8 7.8 7.2 7.8 7.8 8.1 7.8 8.1 8.0 7.8 7.9 HDB 2-Room 9.0 9.0 9.1 8.4 9.0 9.0 9.1 9.0 9.3 9.2 8.8 9.1 HDB 3-Room 12.0 11.9 12.0 11.2 12.0 12.0 12.1 11.8 12.2 12.3 11.9 12.0 HDB 4-Room 15.1 14.9 15.2 14.3 15.3 15.1 15.4 14.9 15.4 15.6 15.1 15.3 HDB 5-Room 16.4 16.1 16.7 15.8 16.8 16.5 16.8 16.2 16.9 17.1 16.6 16.8 HDB Executive 18.1 17.9 18.7 17.8 18.8 18.4 18.7 18.2 18.8 19.2 18.4 18.8 Apartment 13.3 12.8 13.0 12.7 13.7 13.5 13.4 12.8 13.3 13.9 13.7 13.7 Terrace 25.6 24.7 25.7 24.7 25.7 25.1 25.6 25.1 26.1 26.5 26.0 26.0 Semi-Detached 30.9 30.4 30.6 29.8 31.0 30.4 30.9 30.5 32.0 32.5 31.1 31.6 Bungalow 50.2 49.8 49.4 48.6 51.5 48.4 49.7 49.3 50.9 53.6 49.6 52.7

06 2024 年 4 月 10 日 星 期 三 新 加 坡 星 狮 地 产 七 建 筑 将 安 装 太 阳 能 板 苏 秉 苓 报 道 sohpl@sph.com.sg 太 阳 能 是 热 带 国 家 丰 富 的 绿 色 能 源 , 随 着 越 来 越 多 建 筑 业 者 投 入 可 持 续 发 展 行 列 , 星 狮 地 产 集 团 不 落 人 后 , 今 年 底 将 在 旗 下 七 个 产 业 安 装 太 阳 能 系 统 , 预 计 每 年 能 节 省 约 22 万 元 的 能 源 开 销 。 星 狮 地 产 星 期 二 (4 月 9 日 ) 与 新 加 坡 能 源 集 团 (SP Group) 签 署 合 作 协 议 。 新 能 源 将 负 责 安 装 太 阳 能 系 统 , 总 面 积 约 4500 平 方 米 , 这 将 是 我 国 至 今 规 模 最 大 的 零 售 商 场 太 阳 能 项 目 。 当 这 些 太 阳 能 板 启 用 后 , 预 计 一 年 可 生 产 9 2 万 千 瓦 时 (kilowatt-hour, 缩 写 kWh) 电 力 , 相 当 于 为 约 450 个 四 房 式 组 屋 家 庭 供 电 。 这 些 太 阳 能 电 力 , 可 满 足 星 狮 七 个 产 业 平 均 2% 的 能 源 需 求 。 预 计 一 年 下 来 , 所 节 省 的 能 源 费 用 约 22 万 元 , 碳 排 放 量 也 会 减 少 至 少 370 公 吨 , 相 当 于 路 上 少 了 约 80 辆 汽 车 行 驶 。 星 狮 地 产 新 加 坡 首 席 执 行 官 孙 素 玲 说 , 太 阳 能 项 目 彰 显 了 集 团 对 2050 年 实 现 净 零 碳 排 放 的 承 诺 , 同 时 配 合 我 国 计 划 在 2030 年 生 产 至 少 2 千 兆 峰 瓦 (megawattpeak, 缩 写 MWp) 太 阳 能 的 目 标 。 随 着 这 个 项 目 的 推 出 , 星 狮 地 产 集 团 在 新 加 坡 拥 有 或 管 理 的 10 个 零 售 和 商 业 产 业 , 铺 设 的 太 阳 能 板 面 积 总 共 有 1 万 4250 平 方 米 。 七 个 将 安 装 太 阳 能 板 的 建 筑 物 分 别 是 : 亚 历 山 大 科 技 园 (Alexandra Technopark)、 长 堤 坊 、 世 纪 广 场 、 后 港 坊 、 纳 福 城 ( 北 翼 )、 淡 滨 尼 一 号 (Tampines 1) 和 白 沙 购 物 中 心 。 世 纪 广 场 和 淡 滨 尼 一 号 , 也 参 与 新 能 源 在 棕 地 推 出 的 分 布 式 区 域 供 冷 系 统 。 这 两 座 建 筑 生 产 的 冷 却 水 不 仅 能 自 足 , 也 能 满 足 周 边 建 筑 的 冷 却 需 求 , 预 计 每 年 可 为 这 一 区 域 节 省 280 万 千 瓦 时 的 能 耗 , 相 当 于 为 660 多 间 四 房 式 组 屋 家 庭 供 电 一 年 。 这 个 项 目 计 划 在 2025 年 上 半 年 竣 工 并 投 入 运 作 。

News Release CapitaLand, SP Group and Sembcorp to Study Use of Integrated Energy Solutions to Green Data Centres CapitaLand’s data centre is the first to pilot in Singapore under SP’s Energy Partnership Programme Singapore, 5 November 2020 – CapitaLand, SP Group (SP) and Sembcorp Industries (Sembcorp) have signed a Memorandum of Understanding (MOU) to jointly study the use of integrated energy solutions to power data centres. CapitaLand’s data centre is the first to pilot in Singapore under SP’s Energy Partnership Programme. The integrated energy solutions will potentially include a combination of solar photovoltaic, green hydrogen and energy storage amongst others. These will be further enhanced with smart technologies to increase energy efficiency and effectiveness. CapitaLand’s drive for sustainability The study covered under the MOU will initially focus on developing solutions to power CapitaLand’s flagship data centre, 9 Tai Seng Drive with green energy. 9 Tai Seng Drive has been certified with the top rating of Green Mark Platinum for data centres by the Building and Construction Authority and Infocomm Media Development Authority. The feasibility study results planned for the second half of 2021, would potentially be applicable to benefit other data centres in Singapore. This initiative dovetails with CapitaLand’s 2030 Sustainability Master Plan to elevate its commitment to global sustainability. Among CapitaLand’s 2030 sustainability targets unveiled on 1 October 2020, it aims to reduce its carbon emissions intensity by 78% by 2030, reduce its energy consumption intensity at its operating properties by 35% and increase its proportion of total electricity consumption from renewable sources by 35% by 2030. CapitaLand also aims to green its entire global portfolio by 2030, including its data centres. Mr Kelvin Fong, Managing Director, Data Centre, CapitaLand Group, said: “As a responsible company, CapitaLand is partnering SP and Sembcorp to further enhance the sustainability of our data centres to support the growth of a clean digital economy. The ability to leverage smart energy solutions and tap renewable energy sources at our data centres will extend CapitaLand’s competitive advantage within the data centre industry while meeting our commitments towards global sustainability. Besides powering our data centres with renewable energy, we aim to offer energyefficient designs and facility operations at our data centres. CapitaLand remains committed to contribute to the environmental and social well-being of the communities we operate in.” SP’s Energy Partnership Programme This collaboration between CapitaLand, SP and Sembcorp is the first under SP’s Energy Partnership Programme. The programme aims to help corporates meet their green ambitions and overcome energy-related business challenges using integrated energy solutions. Leveraging SP’s technical expertise in smart energy solutions, research and testing will be undertaken at SP’s Concept Lab1 . Corporates enjoy the benefits of researching and testing the viability of sustainable solutions before advancing to real-world applications. Mr Chuah Kee Heng, Chief Executive Officer, Sustainable Energy Solutions, SP Group, said: “We are pleased to work with CapitaLand and Sembcorp to green CapitaLand’s data centres. Under SP Group’s Energy Partnership Programme, we provide expertise and a conducive environment to help corporates solve their energy challenges and contribute to a low carbon, smart energy Singapore.” Sembcorp harnesses the power of collaboration As an integrated energy player across the utilities and energy value chain, Sembcorp brings expertise in providing urban sustainability solutions to energy-intensive businesses with customised combinations of solar energy, energy storage, sustainable energy retail and other innovative energy solutions. One of the targeted outcomes for Sembcorp in this partnership is to determine how green hydrogen fuel cell technologies can be most efficiently deployed in Singapore to reduce the carbon footprint of data centres. Mr Lim Yeow Keong, Senior Vice President, Singapore and Southeast Asia (Energy), Sembcorp Industries, said: “Sembcorp looks forward to this collaboration with CapitaLand and SP. A key goal of this project is to find the most efficient way to lower the carbon footprint of data centres without compromising their operational resilience. With growing demand for data centres, finding carbonefficient solutions to power them is key to enable a sustainable future.” CapitaLand’s joint study with SP and Sembcorp is another of its efforts to strengthen the use of renewable energy and reduce its carbon footprint. In collaboration with Sembcorp, over 21,000 solar panels were installed atop CapitaLand’s six industrial properties2 held under Ascendas Real Estate Investment Trust (Ascendas Reit) in Singapore in 2019. It is the largest combined rooftop solar facility in Singapore by a real estate company. These solar farms can collectively generate around 10,292 megawatt hours of energy annually, equivalent to powering about 2,300 four-room HDB flats each year3. CapitaLand’s corporate offices in Singapore will be 100% powered by renewable energy. Three of its corporate offices will be 100% powered by renewable energy by end 2020 through Renewable Energy Certificates from the clean energy generated atop these industrial properties. Greening data centres for a low-carbon future The joint study is timely, given current trends in data network electricity use. According to a June 2020 report by the International Energy Agency, global data centre electricity demand in 2019 contributed close to one per cent of global demand4 . Demand for data services is expected to continue its exponential growth over the coming years, which in turn will lead to an accelerated growth in data centre loads. 1 SP’s Concept Lab is the group’s innovation space to test new concepts and technologies and develop solutions for its customers. 2 The six properties are LogisTech, 1 Changi Business Park Avenue 1, 9 Changi South Street 3, 2 Senoko South Road, 40 Penjuru Lane, and Techpoint. 3 Average annual electricity consumption of a four-room HDB household is based on Singapore’s Energy Market Authority’s 2019 Singapore Energy Statistics 4 Data Centres and Data Transmission Networks (https://www.iea.org/reports/data-centres-and-data-transmissionnetworks). Global data centre electricity demand in 2019 was approximately 200 TWh, which is equivalent to the annual consumption of about 47 million 4-room HDB flats and 83.76 million tonnes of carbon emissions.   About CapitaLand Limited (www.capitaland.com) CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth about S$133.3 billion as at 30 September 2020. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 220 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA. CapitaLand has one of the largest real estate investment management businesses globally. It manages six listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. CapitaLand launched Singapore’s first REIT in 2002 and today, its stable of REITs and business trusts comprises CapitaLand Integrated Commercial Trust, Ascendas Real Estate Investment Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust and CapitaLand Malaysia Mall Trust. CapitaLand places sustainability at the core of what it does. As a responsible real estate company, CapitaLand contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders. Follow @Capital and on social media Facebook: @capitaland / facebook.com/capitaland Instagram: @capitaland / instagram.com/capitaland Twitter: @capitaLand / twitter.com/capitaland Linkedin: linkedin.com/company/capitaland-limited YouTube: youtube.com/capitaland About SP Group (www.spgroup.com.sg) SP Group is a leading utilities group in the Asia Pacific, enabling a low-carbon, smart energy future for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore and China. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. Beyond traditional utilities services, SP Group provides a suite of sustainable energy solutions such as cooling and heating systems for business districts and residential townships, electric vehicle fast charging and green digital energy management tools for customers in Singapore and the region. For more information, please visit spgroup.com.sg or follow us on Facebook at fb.com/SPGroupSG, on LinkedIn at spgrp.sg/linkedin and on Twitter @SPGroupSG. About Sembcorp Industries (www.sembcorp.com) Sembcorp Industries (Sembcorp) is a leading energy and urban development player, driven by its purpose to do good and play its part in creating a sustainable future. Leveraging its sector expertise and global track record, Sembcorp delivers innovative energy and urban solutions that support the energy transition and sustainable development. Sembcorp has a balanced thermal and renewable energy portfolio of over 12,600MW, with more than 2,600MW of renewable energy capacity globally. The company also has a proven track record of transforming raw land into sustainable urban developments, with a project portfolio spanning over 12,000 hectares across Asia. Sembcorp is listed on the main board of the Singapore Exchange. It is a component stock of the Straits Times Index and sustainability indices including the FTSE4Good Index, the Dow Jones Sustainability Asia Pacific Index and the iEdge SG ESG indices. For more information, please visit www.sembcorp.com  

2 | The T OP STORIES Business Times | Thursday, May 19, 2022 ESG PUSH SP Group in US$370m deal that can cut emissions by up to 120,000 tonnes a year It will build, operate Singapore’s biggest industrial cooling system at STMicroelectronics’ plant By Wong Pei Ting wongpeiting@sph.com.sg SP GROUP on Wednesday (May 18) clinched a US$370 million (S$513 million) deal to build and operate a district cooling system at French-Italian chipmakerSTMicroelectronics’manufacturing site in Ang Mo Kio over 20 years. Once the system is operational in 2025, it will be Singapore’s largest industrial district cooling system, dwarfing the one built by Keppel DHCS, a wholly-owned subsidiary of Keppel Infrastructure, at Woodlands Wafer Fab Park. The site, ST AMK TechnoPark, is STMicroelectronics’ single largest wafer-fabrication site by volume, and the district cooling system is expected to help the facility cut back on its emissions by up to 120,000 tonnes a year – equivalentto taking 109,090carsoffthe road. The emissions to be avoided accounts for 30 per cent of the company’s Singapore carbon emissions last year. Given that the Singapore government has announced that it will progressively raise the carbon tax rate to S$50 to S$80 per tonne by 2030, STMicroelectronics could potentially save as much as S$42.6 million in carbon taxes within the decade with the move. In a statement, Rajita D’Souza, its president of human resources and corporate social responsibility, said the adoptionof thecoolingsystemin Singapore is a “strong statement” of the company’s commitment to its carbon neutrality target. Equivalent to taking 109,090 cars off the road District Cooling System Site ANG MO KIO INDUSTRIAL PARK 2 1 AMK6 AMK2E ANG MO KIO AVE 12 4 2 AMK6E AMK8 CHILLER ROOM CHILLED WATER 4-6°C CHILLED WATER 11-13°C WARMER WATER 9.5-11.5°C WARMER WATER 16.5-18.5°C AMJ9 ANG MO KIO INDUSTRIAL PARK 2 1 Chilled water is generated in a central cooling plant. 2 A closed loop network of insulated pipes distributes the chilled water to each building. 3 When the chilled water reaches the building, energy transfer stations within each building circulate the cold energy from the network into the building’s air-conditioning system, which dehumidifies and cools the air. 4 The warmer water is then circulated to the cooling plant, via the return pipes, to be chilled again. The whole process repeats itself. 3 Source: SP Group STMicroelectronics has set a global target to attain carbon neutrality by 2027, but the company has not deployeddistrictcoolingatanyofitsmanufacturing facilities yet. With district cooling, which works by centralising chilled water production to optimise chiller efficiency, its Ang Mo Kio facility will also meet the Minimum Energy Efficiency Standards set by the National Environment Agency (NEA), the company added. To get the project going, SP Group and Daikin Singapore formed a new joint venture, which is 70 per cent owned by SP and 30 per cent owned by Daikin. The new district cooling plant for the facility - which will be situated just oppositeofit,onDaikin’spremises-will host a cooling capacity of up to 36,000 refrigeration tonnes (RTs), enough to meet STMicroelectronics’ wafer fabrication and spatial cooling needs. For comparison, the district cooling plant built by Keppel DHCS at Woodlands Wafer Fab Park supports 11,000 RTs.ThecapacityforKeppelDHCS’new plant at Jurong Innovation District is 14,000 RTs. Its capacity will, however, be comparable to that of Keppel DHCS’s plant at Changi Business Park (37,500 RTs), which serves 20 developments. SP Group’s district cooling system at Marina Bay remains the utilities group’s largest project, at 70,000 RTs. Speaking at the deal’s signing ceremony,MinisterofStateforTradeandIndustry Low Yen Ling said the private sector plays an important role in advancing Singapore’s climate and sustainability goals. This development, in particular, will contribute to Singapore’s climate ambitiontoachievenet-zeroemissionsbyor around mid-century under the Singapore Green Plan 2030, she noted. Lowurgedbusinessestoplanforthe longer term. “By implementing energy efficiency measures, businesses become more resilient and are able to better buffer against the impact of price surges and global uncertainties,” she said.

Media Release Leadership Change at SP Group Singapore, 16 March 2020 - SP Group (SP] today announced that Mr. Wong Kim Yin, Group Chief Executive of SP Group, will be leaving SP to join Sembcorp Industries Ltd as Group Chief Executive Officer on 1 July 2020. The SP Board of Directors has appointed Mr. Stanley Huang Tian Guan, Chief Financial Officer of SP Group, and Chief Executive Officer of SP International, as Group Chief Executive Officer, effective 1 July 2020. Kim Yin and Stanley will work together to ensure a smooth transition. Tan Sri Mohd Hassan Marican, Chairman of SP Group, said: "On behalf of the Board, I would like to thank Kim Yin for his outstanding leadership during his eight years with us. He has transformed the group amidst an evolving landscape and embedded innovation and sustainability in the company's DNA. With Stanley taking over the helm, I look forward to working with him as he leads the team in charting SP's next phase of growth." Stanley has 25 years of experience in international business management and finance. Stanley is also director of several SP companies including SP Services Limited, SP PowerAssets Limited, SGSP [Australia) Assets Pty Ltd and Singapore Power International Pte Ltd. Prior to joining SP, Stanley was the Global Chief Financial Officer of Volvo Construction Equipment. 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.

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S$1.20 A SINGAPORE PRESS HOLDINGS PUBLICATION | businesstimes.com.sg | fb.com/thebusinesstimes | @BusinessTimes | CO REGN NO 198402868E | MCI (P) 037/12/2016 Tuesday, June 27, 2017 STAVING OFF CYBERATTACKS Cost of data breach down 10% globally, says study TOP STORIES/ 2 BEYOND BITCOINS Cryptocurrencies: A BT Infographics insight TOP STORIES/ 2 LEE FAMILY DISPUTE Indranee Rajah sees 4 options for 38, Oxley Road TOP STORIES/ 6 TAKING ON THE BIG PLAYERS Local beauty brands take on the world SME/ 26 MARKETS Monday Change STI Closed – KL COMP Closed – NIKKEI 225 20,153.35 +20.68 HANG SENG 25,871.89 +201.84 SHENZHEN B 1,144.59 +12.48 DOW (11.45am EDT) 21,444.08 +49.32 ❚❚ DAILY DIGEST Royal Dutch Shell aims to be a leader in clean energy and sees an opportunity in using its global presence and established brand to scale up the new energies business quickly as and when. TOP STORIES / 4 Keppel Land China and Alpha Investment Partners have tied up with a co-investor to acquire an office and retail mixed-used development, SOHO Hongkou in Shanghai, China, for some US$525 million. COMPANIES & MARKETS / 8 Newly qualified New Zealand carpenters are commanding six-figure salaries and construction costs have risen by half in under three years, symptoms of an unprecedented building boom straining the nation’s much-envied economy. REAL ESTATE / 11 A hastily-assembled group of investors looks set to win the bid for Toshiba Corp’s prized memory chip business, but a lack of clear leadership or industry clout is raising questions about who will take tough decisions about strategy and investment. TECHNOLOGY / 16 Activist investor Daniel Loeb’s Third Point LLC on Sunday unveiled a stake of more than one per cent in Nestle SA and urged the world’s largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses. GOVT & ECONOMY / 20 Takata Corp filed for bankruptcy protection in the biggest postwar Japanese corporate failure in the manufacturing industry, as the 84-year-old company buckled under liabilities from millions of recalled air bags that have been linked to more than a dozen deaths. TRANSPORT / 21 Disruption looms for property sector as technology investments mount US$6b in venture capital pumped into “proptech” since 2011; 2017 proptech financing expected to hit US$3b By Lee Meixian leemx@sph.com.sg @LeeMeixianBT By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore REAL ESTATE has been a spectator to technology disruption for years, but all that could be changing as the traditionally tech-laggard sector moves into the epicentre of a technology revolution. Some say it is a new generation of managers and executives, digital natives themselves, who are driving the change. Regardless, a new term has been coined to describe this phenomenon: “proptech” – the real estate version of “fintech”. This leveraging of technology to improve property services ranges from an increased use of big data to the introduction of a distributed database such as blockchain technology, to even inventions such as robot receptionists. At a recent proptech panel discussion hosted at the Tech in Asia Singapore conference, JLL Asia Pacific CEO Anthony Couse said: “The next five years is critical to anyone in the real estate sector, whether you are a service provider, or in the world of developing or investing in real estate.” Singapore Disruptproperty.com lists about 33 proptech companies in Singapore, ranging from property search engines, to asset management companies, crowdfunding websites, smart building firms, market research companies, augmented reality service providers and video analytics solution providers to track human traffic in retail malls. According to CB Insights, a venture capital database, the volume of proptech financing globally has been on a steady increase, rising 36 per cent year on year to US$2.7 billion in 2016, and projected to increase another 10 per cent in 2017 to US$3 billion. Of the approximately US$6 billion in venture capital that has been invested in proptech since 2011, about 70 per cent was in the last two years. Those in the industry see opportunities for more investment in the sector. In an interview with The Business Times, Robert Courteau, CEO of Altus Group, a software and data company for real estate, said: “What’s fascinating to me is how little has been spent on technology in this industry when I look at the spectrum of things that AS WAVE after wave of disruption buffets the power sector, grid operator SP Group is taking steps to turn itself into the industry’s “Uber”: In time to come, it sees itself providing a platform that matches the supply and demand of power, especially as power generation becomes a fragmented and distributed business. At the heart of this transformation is the desire to stay relevant to the Singapore consumer, particularly as the progressive liberalisation of Singapore’s electricity market will lead to a fully open market by mid-2018. SP Group – formerly known as Singapore Power Ltd – owns and operates electricity and gas transmission networks in Singapore and Australia. The group, fully-owned by Temasek Holdings, made S$923.5 million in net profit last year, on revenue of S$3.9 billion. In an interview with The Business Times, group chief executive Wong Kim Yin said that while every industry is being disrupted, the power market is undergoing multiple dimensions of such changes. Besides digital transformations, the industry also has had to face rapid technological advances in renewables and battery storage. “For the longest time, you cannot store electricity, or rather you cannot store it cheaply or efficiently. But increasingly that is changing,” he said. “And the moment you can store power, it changes how power will be delivered or consumed.” On top of these, consumers are now demanding sustainability. In order to stay true to its mission of enhancing the quality of life for Singaporeans, the group therefore SP Group poised to transform into ‘power sector’s Uber’ CEO says the moment electricity can be stored, it changes how power will be delivered or consumed Growing investor interest 2013 to Q1 2017 ■ Disclosed funding (US$ million) Deals 114 $451 186 $1,159 250 $1,991 2013 2014 2015 2016 2017 has to start building capabilities that will allow for the types of life Singaporeans may want to lead in 30 years, said Mr Wong. To do so, the group has adopted a three-pronged strategy: to be exposed to the latest technologies and ideas in the industry; to test promising ideas, and to have the capability to handle proven technologies. Under the first prong, the group in January this year partnered seven other utilities around the world to launch a global accelerator programme. Called Free Electrons, the programme supports startups developing solutions in areas such as clean energy, energy efficiency and mobility, digitisation, and on-demand customer services. SP Group has also put money in funds, including the Europe-based Environmental Technologies Fund which invests in clean technologies and greentech sectors. “By getting involved in these, we get exposed to all the ideas that people have come up 277 $2,698 247 (Full year projection) $2,973 (Full year projection) 61 $733 Source: CB Insights are important to real estate – from funding, to joint-venture development, to partnerships, to construction planning, to cost monitoring, to leasing, to the crowdsourcing of data, to liquidity, to things like daily valuation . . . If you go across that spectrum, every one of those has an opportunity for improvement in real estate.” Increasingly, he noted that there are venture capital companies that are solely focused on funding proptech startups. “Three years ago, there was no such thing. Now you have venture capital firms whose focus is all on real estate, and I think we will see more of that.” One major theme of fintech that has migrated to proptech is the use of blockchain. There are two main uses of it in the property sector. The first allows for the decentralising of transactions and removing of middlemen such as brokers, land title offices, and conveyance law firms. with,” Mr Wong explained. “We also have the opportunity to work with the entrepreneurs and to invest into them if those are things relevant to us.” A technology of interest to SP Group is blockchain, a decentralised and distributed digital ledger used to record data across many computers. This will be useful in the future energy world – one that is expected to be more distributed in nature with consumers also having the means to Property information such as ownership details, addresses, maintenance and repair history, et cetera, is recorded on the immutable digital ledger, such that home buyers and sellers can enter into “smart contracts” – digital contracts that automate the offline functions presently handled by agents, lawyers and banks. This also makes transactions cheaper and quicker. But Mr Couse said that for this to fully work, it requires the buy-in of the government. The “holy grail” of transacting online is to find a solution that will allow an end-to-end transaction with no break in the process. “If we can crack that and convince governments to completely digitise titles and ownership, then we can have end-to-end transactions and that’s really the end of the agent. “But just like fintech hasn’t removed the traditional banker, this hasn’t really happened. It’s still early days in the property sector, but the manual aspect of real estate is really going to go with automation.” There are early attempts to implement this in Singapore. For instance, peer-to-peer real estate start-up Averspace has launched blockchain-enabled house rentals on its mobile app. Continued on Page 2 SP Group chief executive Wong Kim Yin: “For the longest time, you cannot store electricity, or rather you cannot store it cheaply or efficiently. But increasingly that is changing.” PHOTO: KELVIN CHNG generate power using renewables or batteries, said Mr Wong. “Blockchain could potentially be a solution that will enable that distributed transaction to be done between someone who owns a battery and someone who owns a solar panel or even demand management...” Continued on Page 4 ☛ Shell aims to ride branding, global clout in clean energy race, Page 4 ☛ Electric vehicles compel change in grid operators and oil firms, Pg 4

B4 HOME | THE STRAITS TIMES | FRIDAY, JUNE 7, 2019 | Trash becomes energy at Gardens by the Bay Garden trials system created by SP Group that turns waste into heat, material for soil treatment Shabana Begum Visitors to nature parks overseas could be reminded to take their trash with them – but at Gardens by the Bay, leaving behind plastic waste, especially bottles and bags, may actually help the environment. The popular tourist destination, which has received more than 50 million visitors since it opened in 2012, has adopted technology that converts trash into energy as well as a carbon-based product that may enhance plant growth. Energy provider SP Group has created a 6m-long enclosed system that converts food waste, plastic and general waste into thermal energy at 650 deg C. This energy is used to heat a large water tank for use by food and beverage (F&B) outlets at Gardens by the Bay. As a by-product of the chemical reaction, 5 per cent of the waste’s volume becomes biochar – carbonbased chips that resemble charcoal and can be used to treat soil. Gardens will research biochar’s effects on plant growth and health. As the waste is not incinerated and some carbon is locked in the biochar, Gardens by the Bay’s carbon footprint is reduced by up to 20 per cent. SP and Gardens, with the support of Singapore investment company Temasek, signed an agreement yesterday at the CleanEnviro Summit Singapore (CESS) Catalyst 2019 to start a two-year trial of the system. The signing was witnessed by Minister for the Environment and Water Resources Masagos Zulkifli. The summit involved discussions on how technology and innovation can be used to create a circular economy where waste is minimised. SP’s system, which began operating last month and will run as a pilot project until May 2021, will help to reduce Singapore’s reliance on the Pulau Semakau landfill, which is expected to be filled by 2035. All of the chemical reactions and equipment are contained in a compact system into which food waste, plastic, cardboard and wood chips are loaded.A small amount of piped town gas is needed to start the chemical reaction, known as gasification. As the reaction generates heat, the waste is converted into synthetic gas, or syngas, containing primarily carbon monoxide and hydrogen. The syngas then undergoes combustion to produce thermal energy. The self-sustaining process takes between 10 and 15 minutes. The thermal energy heats a 2,000-litre water tank used by F&B outlets for consumption and washing. Previously, Gardens by the Bay heated the water with electricity. Mr Thomas Seow, Gardens by the Bay’s senior director of research and horticulture, said: “The Gardens is an ideal location for the pilot Mr Dex Ng, assistant director for conservation and environmental sustainability at Gardens by the Bay, demonstrating the disposal of trash into the gasification system. The system, created by SP Group, began operating last month and will run as a pilot project till May 2021. It will help to reduce Singapore’s reliance on the Pulau Semakau landfill, which is expected to be filled by 2035. ST PHOTO: SHINTARO TAY Making good use of waste SP Group's system converts waste collected from Gardens by the Bay into heat and a solid by-product containing carbon. A worker from Gardens by the Bay wheeling a bag of waste to a compact gasification system housed in a 20-foot container. 1 Waste is loaded into the gasification chamber through a hatch. Gasification chamber GASIFICATION PROCESS because it has a (variety) of waste that can be tested through the gasification system to find outcomes and data. Hot water and biochar can be used here and need not be transferred out of the Gardens.” This is not the first time that gasification has been used here. Earlier this week, Nanyang Technological University launched a bigger gasification system to treat solid waste generated on campus. “We think the system can be deployed in places such as hotels and hospitals, where there is waste and a significant need for hot water for sanitation,” said Mr Jimmy Khoo, SP’s chief executive for Singapore 2 3 The syngas is channelled into the combustion chamber, where the syngas is burned to generate thermal energy. 4 At up to 650 deg C, the waste is converted into syngas, which largely consists of hydrogen and carbon monoxide. Heat is released at the same time, helping to sustain the gasification process. Combustion chamber district cooling. In the trial, SP’s system will run for eight hours a day, converting about 300kg of waste. Between four and five tonnes of waste are collected at Gardens by the Bay every day. The project is part of the National Environment Agency’s regulatory The thermal energy is then extracted through a series of heat exchangers and it is used to heat up potable water in an external water tank for use in a foodcourt. 5 WATER TANK The by-product of the waste is called biochar, which can be used as a soil amendment to enhance plant growth. Source: SP GROUP ST PHOTOS: SHINTARO TAY ST GRAPHICS: BILLY KER sandbox initiative, which was announced at CESS last year. Another project approved for the initiative was a digital platform, developed by Alpha Biofuels, for logistics firms to collect and recycle used cooking oil from F&B outlets. nshab@sph.com.sg IDEAL TEST BED The Gardens is an ideal location for the pilot because it has a (variety) of waste that can be tested through the gasification system to find outcomes and data. Hot water and biochar can be used here and need not be transferred out of the Gardens. ’’ MR THOMAS SEOW, Gardens by the Bay’s senior director of research and horticulture, on Gardens’ suitability for the zero-waste pilot project. HOW IT CAN BE USED We think the system can be deployed in places such as hotels and hospitals, where there is waste and a significant need for hot water for sanitation. ’’ MR JIMMY KHOO, SP’s chief executive for Singapore district cooling, on potential uses for the compact gasification system. Source: The Straits Times © Singapore Press Holdings Limited. Permission required for reproduction.

6 Berita Harian | Isnin, 29 April 2024 Kursus pertingkat ilmu, kemahiran pekerja dalam operasi loji kuasa EKONOMI ▶ IRMA KAMARUDIN irmak@sph.com.sg Sebagai kakitangan baru dengan pengalaman kurang setahun di Senoko Energy, tugas mengendalikan loji kuasa dan menangani masalah yang mungkin timbul boleh menjadi sesuatu yang agak mencabar bagi Encik Muhammad Anas Ariffin. Namun, pengetahuan pegawai teknikal dalam mengendalikan loji kuasa yang menjana elektrik itu kini dipertingkat setelah beliau melalui kursus operasi loji kuasa dan kawalan proses. Apa yang membuat kursus itu lebih menarik adalah ia turut merangkumi latihan simulator, yang membolehkan pelatih belajar cara menangani senario yang jarang berlaku dalam sektor kuasa, seperti apa yang perlu dilakukan sekiranya loji kuasa mengalami penutupan. “Ia memberi saya peluang mempunyai pengalaman amali dengan sistem operasi. Kursus ini juga membolehkan saya menangani dengan lebih baik pelbagai senario yang kami tidak selalunya hadapi dalam operasi sebenar. “Oleh itu, ia membantu kami menjadi lebih bersedia dan memberikan kami keyakinan menangani sebarang situasi,” kata beliau, yang berusia 31 tahun. Seorang lagi peserta kursus yang sama, Encik Mohamed Shafiq Abdul Rashid, pula menambah latihan simulator itu mengajar beliau tindakan yang perlu diambil dalam pelbagai situasi dan cara memperbetulkan keadaan yang boleh berlaku di tempat kerja. “Ini bahagian kursus yang paling berharga kerana tidak selalunya masalah sistem yang mencabar berlaku. “Untuk dianggap sebagai seorang operator pengalaman, seseorang itu perlu mempunyai pengalaman 10 tahun atau lebih sebagai operator dan telah menghadapi kebanyakan masalah sistem,” kata pegawai teknikal (operasi dan kecekapan) di Tuas Power Generation berusia 31 tahun itu. Baru-baru ini, Institut Kuasa dan Gas Singapura (SIPG) telah melancarkan Simulator Loji Kuasa Berpusat (CPPS) yang pertama di Singapura, yang membolehkan program latihan operasi dijadikan lebih berstruktur dan standard bagi pekerja syarikat dalam sektor penjanaan kuasa. Sebanyak enam kursus yang disepadukan dengan latihan CPPS telah dibangunkan bersama oleh SIPG dan syarikat penjanaan kuasa merangkumi Keppel Merlimau Cogen O&M, PacificLight Power, Sembcorp Cogen, Senoko Energy, Tuas Power dan YTL PowerSeraya. Program latihan tersebut menetapkan standard yang konsisten bagi latihan kemahiran, seperti dalam operasi loji kuasa, kawalan proses dan pengurusan penggera serta kerosakan peralatan dalam sekitaran dikawal yang berbeza daripada operasi harian. Sebagai sebahagian pelancaran CPPS, SIPG juga memperkenalkan program latihan berstruktur merangkumi dua Program Sijil Penjanaan Kuasa baru, dengan sijil diiktiraf oleh semua syarikat penjanaan kuasa. Sijil itu akan diberikan kepada peserta setelah mereka selesai menjalani kursus CPPS serta kursus berkaitan penjanaan kuasa lain yang ditawarkan SIPG. Sebagai pegawai teknikal di Senoko Energy, tugas Encik Anas termasuk memastikan loji kuasa beroperasi dengan lancar dan melakukan pemeriksaan rutin. Melalui latihan yang dijalani, beliau berkata antara cabaran terbesar adalah untuk menangani senario yang tidak pernah dilaluinya sebelum ini. Antaranya adalah situasi apabila peralatan didapati rosak dan mereka perlu belajar apa yang perlu dilakukan untuk menyelesaikan masalah sebelum seluruh loji kuasa terganggu. “Meskipun masih banyak lagi yang saya perlu belajar, saya rasa lebih yakin dalam menangani situasi dan senario yang berbeza (melalui latihan yang dijalani). Encik Muhammad Anas Ariffin (kanan) dan Encik Mohamed Shafiq Abdul Rashid, berpeluang mempertingkat pengetahuan dan kemahiran mereka setelah menjalani kursus operasi loji kuasa dan kawalan proses yang dibangunkan bersama oleh Institut Kuasa dan Gas Singapura (SIPG) dan syarikat penjanaan kuasa di sini. – Foto BH oleh NUR DIYANA TAHA “Saya juga dapat lebih memahami rasional di sebalik seting tertentu dalam loji kuasa dengan mencuba seting yang berbeza dalam simulator untuk melihat akibat dan hasilnya. “Percubaan dan kesilapan sedemikian adalah satu ‘kemewahan’ yang kita tidak boleh lakukan dalam operasi loji sebenar,” kata beliau. Encik Shafiq, yang telah bekerja dengan Tuas Power Generation lebih tiga tahun, pula berkongsi bahawa antara cabaran yang dihadapinya adalah untuk menyesuaikan diri dengan penggunaan simulator, memandangkan setiap syarikat penjanaan kuasa mempunyai sistem kawalan loji yang berbeza. Tugas beliau sebagai pegawai teknikal termasuk meneliti sebarang keluarbiasaan dalam sistem kawalan loji dan di loji kuasa itu sendiri dan mengenal pasti sebarang kerosakan peralatan yang menjejas kecekapan loji. “Antara perbezaan termasuk beberapa persediaan sistem loji, seperti menukar halaman berbeza pada simulator, mengakses dan mengawal peralatan loji dan mengemudi input gerbang logik berbeza (alat elektronik yang digunakan dalam kawalan dan pemantauan sistem) ke dalam sistem. “Dengan latihan cukup yang diberikan jurulatih, saya dapat membiasakan diri dalam tempoh yang singkat,” kata beliau. Encik Shafiq berharap dapat menyertai kursus peringkat lanjutan pada masa depan untuk terus mempertingkat pengetahuan teknikal beliau. “Saya mahu mempersiapkan diri saya dengan lebih baik untuk masa depan saya dalam industri penjanaan kuasa, lebih-lebih lagi dengan kemajuan teknologi akan datang,” kata beliau. “ Ia memberi saya peluang mempunyai pengalaman amali dengan sistem operasi. Kursus ini juga membolehkan saya menangani dengan lebih baik pelbagai senario yang kami tidak selalunya hadapi dalam operasi sebenar. Oleh itu, ia membantu kami menjadi lebih bersedia dan memberikan kami keyakinan menangani sebarang situasi.” – Encik Muhammad Anas Ariffin, pegawai teknikal di Senoko Energy. Ini bahagian kursus yang paling berharga kerana tidak selalunya masalah sistem yang mencabar berlaku. Untuk dianggap sebagai seorang operator pengalaman, seseorang itu perlu mempunyai pengalaman 10 tahun atau lebih sebagai operator dan telah menghadapi kebanyakan masalah sistem. – Encik Mohamed Shafiq Abdul Rashid, pegawai teknikal (operasi dan kecekapan) di Tuas Power Generation.

Madam Shariffah Dayana Syed Hassan Al-Yahya and Mr Andri Panusunan Sagala, both 38, with their sons, three-year-old Rumi and one-year-old Aria. Children benefiting from SP Group’s donation will receive educational tools, books and toys in the form of learning and development packs for a year. PHOTO: SP GROUP SP Group donates $1 million to support children from low-income families Yeo Shu Hui More than 2,000 children from low-income homes will get electronic devices as well as learning and development packs as part of a $1 million donation from SP Group. The donation was launched yesterday under the SP Kids at Heart programme and will benefit children up to six years old from lowincome families. The Community Chest will administer the funds and disburse them to KidStart to support the programme. KidStart Singapore provides support for child development, and coordinates and strengthens holistic services for low-income families. Its programme provides guidance to parents with children aged six and below, to enhance the children’s development and health. Children benefiting from the donation will receive educational tools, books and toys in the form of learning and development packs for a year. They will also receive electronic devices such as tablets and Internet routers to support their learning during the Covid-19 pandemic. Their families will get grocery vouchers and other financial assistance packages such as tools and equipment. Staff volunteers from SP will deliver the welcome and learning packs to the beneficiaries, help install routers and produce instructional videos to work around safe management guidelines. At the virtual launch yesterday, SP Group chairman Hassan Marican said that children are the future of Singapore. He said: “Through SP Kids at Heart, we can give them the best possible start in their formative years, with access to the right developmental and educational materials. This includes digital tools to ensure their learning is not disrupted during the pandemic. “For parents, we aim to equip them with soft skills to help them connect better with their children and support them in their holistic education.” Minister for Social and Family Development Masagos Zulkifli, who is also chairman of the Growing Together with KidStart Council, said: “SP Group has shown us how corporates can play their part in building a society of opportunities together even amid a pandemic, sustaining a culture where those who have done well give back for the betterment of society.” Madam Shariffah Dayana Syed Hassan Al-Yahya, 38, who works in the food and beverage industry and has a three-year-old son, Rumi, is looking forward to the SP Kids at Heart programme. She said: “As a parent, the most important thing is for our children to grow up well. With SP Kids at Heart, I am grateful that he can get the support he needs for a better future.” yshuhui@sph.com.sg