asese k of em, hat the ainh is inilop s in m- ate gal les. this ort lts. ort and feancy ing lso ed ang in- GP Ka rs, of colrts ese the erga- the orrs. ith rmtahat yce to ur- TC) 5. system and has made a difference to a future generation of lawyers. 4 | TOPSTORIES The Singapore Power joins In the pipeline global utilities in plan to enlist startups CJ urges legal sector to embrace march of technology Sundaresh Menon endorses tech blueprint for Singapore courts over next five years By Claire Huang huangjy@sph.com.sg @ClaireHuangBT Singapore DEVELOPMENTS in technology have forced lawyers to rethink practice areas and legal eagles in Singapore must stride towards these advances “with receptive openness”. This, as technology is expected to improve the quality of services and lead to cost savings for law firms, and ultimately, for society, said Chief Justice Sundaresh Menon at the opening of the legal year at the Supreme Court on Monday. Already, online dispute resolution platforms that allow users to find resolution without having to litigate have been implemented in the Netherlands, CJ Menon said, adding that it is “likely just a matter of time” before for the courts over the next five years. A unified One Judiciary IT Steering committee would also be set up to review, revise and update the blueprint initiatives. In tandem, the Singapore Academy of Law (SAL) presented its Legal Technology Vision outlining the aims of adopting legal tech and incubating a legal tech scene here. One of the aims, specifically targeting small- and medium-sized law firms, is to encourage adoption of baseline technologies, including office productivity suites, billing and practice management systems. Another is to look into the possibility of collaborative and shared virtual platforms and workspaces, as well as web- and cloud-based tools that can be accessed remotely. This could create a virtual marketplace that matches demand for and supply of Supreme Court ■ Amendments to Criminal Procedure Code to establish Rules Committee expected later this year He also touched on the appointment of three Senior Counsels – judicial commissioner Edmund Leow who is returning to the private sector, the Attorney-General’s Chambers’ (AGC) solicitor-general Kwek Mean Luck, and deputy chief prosecutor of the these avenues that “blend negotiation, mediation and arbitration” legal services, provide information could By be applied Andrea in fields such as motor accident workplace injury yers clients. AGC, Francis Ng. Soh and rating tools for the benefit of law- claims, as well as insurance claims or A further goal is to create fresh sandrea@sph.com.sg disputes. legal technologies by finding ways to To harness technology to enhance link the legal sector up with innovative professionals from other discip- the @AndreaSohBT administration of justice, he has endorsed the technology blueprint lines, said Mr Menon. Singapore SINGAPORE Power has joined the By Claire start-up Huang bandwagon. The pilot programme, The launched grid operator owned by Temasek Holdings on huangjy@sph.com.sg by Chief Justice Sundaresh Menon at @ClaireHuangBT the opening of the legal year 2017, is Singapore expected to be expanded later to include shipping law and arbitration. said Mr Menon. TO help the public identify lawyers The move is meant to improve the who Monday have expertise in certain launched practice accelerator programme with eral, without seven disadvantaging other those interna- quality of Singapore’s legal services areas, the Singapore Academy of Law and the standard of the Bar in gen- (SAL) has rolled out a voluntary accreditation scheme so practitioners who choose to remain non-accredited, he said. can apply to have their skills recognisedtional utilities “Participation in to the scheme help will energy For a start, lawyers specialising be entirely voluntary and will not be building and construction law can apply under the Specialist Accreditation lawyers will continue to be able to exclusionary. Thus, non-accredited start-ups gain exposure to various Scheme. The first batch of accredited practise in their field, in the same way specialists markets in this field will around be announced in January 2018. Senior Counsel are nonetheless able senior lawyers are exempted. that those who are not world. appointed The Free Electrons accelerator programme Toyota aims come to on recruit board energy to Scania, test-bed start-ups truck to co-create platooning the system next generation Hwee Hwee of ideas year, and in their respective solutions research address- By Tan hweetan@sph.com.sg centres in Sweden and Japan. One of @HweetanBT the two companies will be selected ing future Singapore trends based on the outcomes in clean of the phase 1 energy and trials to proceed into phase 2 projected from 2018, during which trials and trucking industry.” IF the truck platooning trials starting from energy early 2017 go according efficiency, to plan, among other areas, and development of the technology multiple truckloads of cargo at Singapore’s port can be transported will take place in Singapore. between SP terminals said. by just one driver The trials in Singapore will initially in the near future. involve transporting containers from This autonomous freight technology calls for one human-driven truck Pasir Panjang Terminal to Brani Terminal the Singapore port. A 10-kilo- The firm initiated the programme to lead a convoy of one or more driverless with trucks. Coast Highway has been designated metre long test route along West movement. Dubai Electricity and Water Authority, Scania and Toyota to Electricity test-bed The Ministry of Transport and PSA for the phase 2 trials. The inter-terminal haulage may eventually be penned the agreements on Monday with scaled up to include Supply haulage within Board in Ireland, the truck platooning system for use the port area and between Pasir Panjang Terminals and the Tuas Port. on Singapore’s public roads. These agreements followed Energias a memorandum Taking de on truck Portugal, platooning will Innogy in of understanding inked by the Ministry of Transport and PSA in October well as allow for more freight move- help alleviate manpower shortage as Germany, Tokyo Electric Power Company truck platooning (Tepco), trials will Permanent and Secretary Origin for Trans- Energy and 2015 to collaborate and co-fund truck ment at night to ease traffic congestion. drivers needed. platooning projects. The take place in two phases over a port and Chairman of the Committee three-year period from January 2017 on Autonomous Road Transport in to December Ausnet 2019. Scania and Services Toyota Singapore, Pang Kin Keong Australia. said: Together the eight utilities have 73 mil- will undertake first phase of the “Trucking as we know it today is a and managers. truck platooning trials lasting about a highly labour-intensive industry. We lion end customers across more than 40 countries, and a combined net income of US$148 pany plans to billion. collaborate with A*Star By Amit Roy Choudhury Under the MOU, the British com- amit@sph.com.sg @AmitRoyCBT to establish technology centres here Singapore to exploit growing capabilities in Internet of Things (IoT) will and advanced be managed haul) applications. BRITISH The aero-engine programme maker Rolls-Royce and A*Star signed a manufacturing technology in the industrial, healthcare, transport and memorandum of understanding (MOU) by on Jan two 9 to advance accelerator its digital other sectors. The partners proposed centres in Silicon capabilities and, at the same time, facilitate the growth of the supporting sensor technology design laboratory dustries can benefit from”. are likely to include a collaborative Valley: New Energy Nexus and swissnex in Singapore San since 1950, Francisco. conics. It may also include digital ecosystem in Singapore. on developing IoT sensors using Rolls-Royce, which has been nanotechnology and microelectron- present They a collaborative have extensive systems networks business. At its Se- create in solutions the to innovation connect sensors ecosyssiders the country a key regional hub computational science development for its civil, defence, marine and laboratory, among other purposes, to power letar campus it assembles and tests with the digital value chain, including aero engines that power the Airbus analytics software, applications 380 tem and the Boeing and 787 Dreamliner. have design experience and cybersecurity. and expertise patented in hollow, connecting titanium turing capabilities innovators, including digital said SP. Singapore is also the only place outside of the UK where it manufactures tegic development of future manufac- The MOU also proposes the stra- its wide-chord fan blade. manufacturing and advanced manu- As part of the six-month programme, 12 start-ups will gain exposure to various markets around the world by collaborating with major utility firms in three separate week-long modules in Silicon Valley, Lisbon and Dublin, and Singapore. The Singapore leg, as the final module, will focus on contracting pilot projects between the start-ups and utilities, according to the Free Electrons website. It will also include an overview of Singapore’s startup ecosystem and market, a final pitch event and an awards ceremony. In between modules, there will be ongoing conversations in the form of technical and business mentoring, and discussions on pilot opportunities. Being part of Free Electrons allows SP to foster international collaboration with some of the world’s largest international utilities, as well as partner some of the world’s most promising startups to develop solutions that could shape Singapore’s, and the world’s, energy future, he added. The initiative by the eight utilities comes at a time of tremendous industry transformation worldwide due to the growing popularity of renewable energy, the decentralisation of the energy system, regulatory uncertainties and disruptive new technologies. In Singapore, the electricity market is also set to be fully liberalised from mid-2018 onwards. Already, numerous independent electricity retailers banking on technology for a competitive edge have entered the market in the past two years, BT recently reported. The Free Electrons programme is open for applications from Jan 9 to Feb 28 this year. The selected start-ups will be announced in April. ■ Civil Justice Commission to wrap up review of processes by year-end ■ Review of medical litigation procedures to be finalised this year ■ Refinement of the Singapore International Commercial Court's rules under way State Courts ■ Employment Claims Tribunal − set up to help employees resolve salary-related disputes in a fast and affordable way − is expected to operate in April ■ New State Courts Tower to be operational by 2020 Family Justice Courts ■ Tweaks to the family justice system are in progress, including devising norms for child maintenance to be based on actuarial data and setting clear professional standards for practitioners In closing his speech, the Chief Justice paid a tribute to outgoing Attorney-General (AG) VK Rajah, who steps down on Jan 13. Congratulating Mr Rajah for his “many remarkable to practise as advocates. But accreditation will function as a mark of recognition that a particular lawyer in fact has particular skills and expertise,” The scheme will have two tiers: a lower tier (accredited specialist) for younger legal practitioners and an upper tier (senior accredited specialist) for more experienced legal practitioners. Candidates will be selected by a panel comprising judges, legal practitioners and industry professionals. The assessment is based on the candidate’s involvement in the practice area and panel interview, among other things. Younger lawyers will have to sit an examination while face a shortage of truck drivers. In this regard, truck platooning technology presents us with an opportunity to boost productivity in both the port PSA International’s regional CEO for South-east Asia, Ong Kim Pong said the progress made in truck platooning “underlines our joint commitment to being future-ready, while also helping us to continue to serve our customers better through fast and efficient inter-terminal container The Business Times understands under 2 million teus (20 foot equivalent units) of cargo annually are being transported between terminals using trucks. One industry observer estimated using truck platoons with one lead and two autonomous trucks in each platoon, PSA may save S$10 million annually or S$7 per teu moved over land by reducing the number of Mr Pang said that by taking on truck platooning, truck drivers will be offered opportunities to take on higher-skilled roles as fleet operators This falls in line with a drive in the facturing technologies and processes for manufacturing, assembly and MRO (maintenance, repair and over- Ian Davis, Rolls-Royce chairman, said that by “sharing our world leading expertise in digital technology”, Rolls-Royce and A*Star can together build a digital ecosystem “that all in- Mr Davis said that with its Smart Nation initiative, Singapore has demonstrated that it is “continually transforming, able and inventive”. That is why Singapore is a compelling partner to work with on “some of our digital strategy streams”, he added. He said that the MOU would expand and deepen the company’s capabilities in Singapore. He added that 90 per cent of the company’s sales comes from outside its UK home market. He added: “Today 50 per cent of Source: Singapore Supreme Court The specialist accreditation will have to be renewed every two years. SAL said the scheme is expected to benefit more than 900 legal practitioners who practise building and construction law. Former Law Society president and senior counsel Lok Vi Ming, who now runs his own dispute resolution practice, welcomed the accreditation scheme as it will “encourage practitioners to keep up with latest developments in a particular industry or practice area” and will ramp up different expertise. “The public is always looking for product differentiation – people who can deliver better in a particular area larger maritime industry to align job profiles with the aspirations of younger, more technologically savvy Singaporeans. Mr Ong opined that it is timely to move on to the next steps in developing autonomous truck platooning technology as PSA prepares for its future terminals in Tuas. PSA is building the next-generation port (NGP) from our aircraft (engine) sales come from Asia, in 20 years 70 per cent of of our sales will come from this region.” Singapore’s importance lies in the fact that it is a major engine repair and maintenance centre of the company. A*Star chairman, Lim Chuan Poh, noted that Singapore is the largest aviation hub in Asia. The total output from the aerospace industry in Singapore is worth S$8.3 billion out of which 90 per cent comes from MRO activities and the rest from manufacturing. The sector employs 20,000 highly-skilled talent with the vast majority being locals, Mr Lim said. Singapore hosts more than 100 aerospace companies. These include multinationals such as Airbus, Boeing, Bombardier and Rolls-Royce, and local enterprises such as ST Aerospace, SIA Engineering Com- achievements over the course of more than three decades in the law”, Mr Menon said: “You have devoted yourself tirelessly to advancing the interests of justice throughout your career. There can be no higher calling for a lawyer; and you have discharged it with great distinction.” Veteran lawyer Lucien Wong has been appointed the new AG and will serve a three-year term. Prime Minister Lee Hsien Loong also thanked Mr Rajah for his outstanding contributions to Singapore in a valedictory letter dated Jan 4. “Of particular note were your decisions that concerned criminal law. You delivered landmark rulings that clarified the law on criminal liability for common intention, as well as aspects of the law on sentencing. These Voluntary scheme started to accredit specialist lawyers One driver, multiple trucks Driver in first container truck leading 3* driverless trucks Lead vehicle linked to the platoon via wireless communications of expertise and if you have a mark of excellence that is presented to them, they will gravitate towards that mark,” added Mr Lok. The SAL is also developing the Legal Industry Framework for Training and Education (Lifted), which is part of the nationwide SkillsFuture initiative and will help lawyers develop core and specialist competencies in their areas of practice. For a start, Lifted will identify competencies and courses for corporate and commercial law, family law, legal technologies and legal support roles. It will be implemented in phases this year, starting with legal support roles. scratch at Tuas. Smarter, greener and automated, the NGP at Tuas will feature technology-boosting efficiency and productivity as well as improving safety and security. PSA is also test-bedding automated guided vehicles (AGVs) at the Pasir Panjang Terminal. The AGV technology is intended to be implemented at the NGP at Tuas. Rolls-Royce signs MOU with A*Star to deepen collaboration CJ Menon also paid tribute to outgoing Attorney-General VK Rajah (inset), who steps down on Jan 13. PHOTO: THE STRAITS TIMES, FILE PHOTO Coupling and de-coupling to allow other road users to cross between platoon vehicles Incorporates vehicle detection, anti-collision and lateral control technologies for safety *Number of trucks in each platoon may vary according to trial results. Source: PSA and Ministry of Transport pany, Wah Son Engineering, and Ka Shin Technologies. Mr Lim noted that over the years, Rolls-Royce has proven to be one of A*Star’s most valuable partners in collaborative research that “kick-starts innovation” for the industry. “These initiatives not only contribute to the local aerospace sector, but to the overall manufacturing landscape in Singapore,” he added. In 2007, Rolls-Royce joined the A*Star Aerospace Programme consortium as one of its founding members. In 2011, it established a Joint Lab with A*Star’s Institute of High Performance Computing (IHPC) in computational engineering. Mr Lim added that Singapore worked with Rolls-Royce and a few other industry partners to set up the Advanced Remanufacturing and Technology Centre (ARTC) which was officially opened in 2015. Business Times | Tuesday, January 10, 2017 judgements reflected your commitment to a fair criminal justice system that tempers justice with compassion,” Mr Lee wrote. He added that Mr Rajah has done much to improve Singapore’s legal system and has made a difference to a future generation of lawyers. Singapore Power joins global utilities in plan to enlist startups By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Singapore SINGAPORE Power has joined the start-up bandwagon. The grid operator owned by Temasek Holdings on Monday launched an accelerator programme with seven other international utilities to help energy start-ups gain exposure to various markets around the world. The Free Electrons accelerator programme aims to recruit energy start-ups to co-create the next generation of ideas and solutions addressing future trends in clean energy and energy efficiency, among other areas, SP said. The firm initiated the programme with Dubai Electricity and Water Authority, Electricity Supply Board in Ireland, Energias de Portugal, Innogy in Germany, Tokyo Electric Power Company (Tepco), and Origin Energy and Ausnet Services in Australia. Together the eight utilities have 73 million end customers across more than 40 countries, and a combined net income of US$148 billion. The programme will be managed by two accelerator partners in Silicon Valley: New Energy Nexus and swissnex San Francisco. They have extensive networks in the innovation ecosystem and have experience and expertise in connecting innovators, said SP. As part of the six-month programme, 12 start-ups will gain exposure to various markets around the world by collaborating with major utility firms in three separate week-long modules in Silicon Valley, Lisbon and Dublin, and Singapore. The Singapore leg, as the final module, will focus on contracting pilot projects between the start-ups and utilities, according to the Free Electrons website. It will also include an overview of Singapore’s startup ecosystem and market, a final pitch event and an awards ceremony. In between modules, there will be ongoing conversations in the form of technical and business mentoring, and discussions on pilot opportunities. Being part of Free Electrons allows SP to foster international collaboration with some of the world’s largest international utilities, as well as partner some of the world’s most promising startups to develop solutions that could shape Singapore’s, and the world’s, energy future, he added. The initiative by the eight utilities comes at a time of tremendous industry transformation worldwide due to the growing popularity of renewable energy, the decentralisation of the energy system, regulatory uncertainties and disruptive new technologies. In Singapore, the electricity market is also set to be fully liberalised from mid-2018 onwards. Already, numerous independent electricity retailers banking on technology for a competitive edge have entered the market in the past two years, BT recently reported. The Free Electrons programme is open for applications from Jan 9 to Feb 28 this year. The selected start-ups will be announced in April. Source: The Business times © Singapore Press Holdings Limited. Permission required for reproduction.

OPSTORIES | 5 b- se ss- RT dy taprn- lco m n- to ho ed in usof his ecn- st to osits usmed ntof pt we ey on ep id acect al of at ce. ice m ice a TOPSTORIES The Business Times | Thursday, April 13, 2017 M1 GE sees opens small cell networks S’pore as alternative to costly spectrum Telco says it’s leader in deploying devices in crowded environments to supplement mobile network signals IT resources and support centre By Amit Roy Choudhury F1. We observed that they were able to absorb the spike in traffic during these amit@sph.com.sg @AmitRoyCBT events.” Singapore Ms Kooi added that M1 was progressively deploying small cells in the MRT-LRT M1 is banking on smart utilisation of its existing spectrum and new technology, like network and at the moment had already “small cell” networks – which are already covered more than 80 per cent of the stations, major bus interchanges, big shop- being deployed in public spaces like MRT stations – to provide the best possible quality of service to its customers. ment buildings. ping malls and public places in govern- Last week’s telecommunication spectrum auction surprised the market by be- was looking to “re-farm” existing spectrum The M1 CEO also noted that the telco coming the most expensive such auction that is now being used to provide third generation mobile telephony (3G) services to in By history for Andrea Singapore. M1, and Soh the other three telcos, Singapore Telecommunications (Singtel), StarHub, Australian are yet to migrate to 4G. around 20 per cent of its customers who sandrea@sph.com.sg company TPG Telecom, which will start The reason the telco hasn’t yet started services by September next year, collectively @AndreaSohBT committed to paying S$1.14 billion the process of migrating its existing 2G cus- the “re-farming” exercise is because it is in for the 175 MHz (megahertz) of spectrum tomers to 3G since the discontinuation of that was on offer. During the last major 2G Singapore. “We will watch how this spectrum auction exercise in 2013, the regulator raised a total of S$360 million for trum for 4G.” goes before we start to re-farm the 3G spec- the AMERICAN 4G auction. conglomerate General Electric on Wednesday Ms Kooi, however, added: “We do encourage people to upgrade but not just There has been a market perception that, in comparison to to Singtel and Starfrom the spectrum perspective but also to opened an Asia Digital Operations Centre (A-DOC) in Singapore in its as bidding. part M1 committed of a commitment to develop digital industrial Hub, M1, which had a 23.7 per cent market enhance the service experience.” To a question with regards to the possibility of a price war once TPG starts its share as on December 31, 2016, was less aggressive services, Ms Kooi said: “We are very customer focussed and we like to give custom- S$208 million for 30 Mhz of spectrum while capabilities StarHub’s commitment was in S$349.6 the city-state. ers what they want and so we have evolved million for 60 Mhz and Singtel’s S$563.7 from a voice-centric network to a data-centric network. million for 75 MHz of spectrum. TPG Telecom spent Underlining S$23.8 million for 10 MHz of the new thrust in Singapore, it also signed spectrum. The telcos will pay for the spectrum as and when they become available areas where there is high data usage and we can put small cells networks there.” large data plans is at one level to pre-empt Ms Kooi: “Today we have a lot of traffic statistics ... which tells us which are the “So all these recent introduction of partnership agreements with grid operator SP Group, the fourth telco but more importantly we in different lots and bandwidths. want to give the customers what they In an interview with The Business Times, size of a A4 sheet of paper, are set up trum lots (20Mhz) of the 700Mhz spectrum, Institute while StarHub picked up of three Manage- lots that we value them and we want to keep want. We want them to know very early on Karen Spring Kooi, M1’s CEO, Singapore said the telco’s bidding strategy was very considered as it felt ment the mobile network signals. This al- and Singtel four lots. One of the main pur- them.” within and crowded environments Singapore to supple- that ment’s it had alternatives entrepreneurship to costly spectrum lows for signal boost for centre a high quality connection, even if the signal strength from is to allow the telcos to provide better qual- she was not in a position to discuss the ac- Platform poses of the 700 MHz E. spectrum allocation In response to a question, Ms Kooi said when it came to providing quality coverage and service to its customers. the nearest telecom tower is weak. ity indoor coverage. tual strategy that M1 will adopt to protect “We knew The we had group’s an effective alternat-A-DOive (to costly spectrum) as we are the alternative to acquiring an extra 700Mhz traffic statistics complemented by our ana- strategy close to our chests at this point of She said “densification” is the was an first effective such Ms Kooi said: centre “Today we have in a Asia, lot of and market share, “I want to keep the actual largest is HetNet part (heterogenous of a network) larger operator at the moment. We are way ahead of us less than S$50 million (to develop an ef- areas where there is high data usage and She, however added: “Having said that spectrum strategy lot. “We estimate by that it will the cost lysis company platforms which tell us to which transform are the time”. the others in terms of ‘densification’ and fective islandwide small cell network) and we can put small cells networks there.” we do not believe in competing on price. laying how the foundation IT is for a delivered future 5G network.” gone after the third pair of 700Mhz spec- rode on 1800 MHz and 2.6 GHz (giga and quality. We believe we are a premium we don’t across have to spend any the more. If group. we had She added that M1’s small cells network We always competed on customer service By “densification” The Ms centre, Kooi was referring which trum it would helps have pushed provide up the price hertz) round-the-clock spectrum which M1 already owns. service IT provider re- and as a premium service to what is known as small cells network in way above the S$92 million for each lot.” “We have also used small cells outdoors provider we will be able to command a which devices or antennas, around the During the auction, M1 picked up two spec- during the New Year’s Day countdown and premium on our prices.” sources and support for GE, will house about 60 employees initially, with the potential to expand software jobs US three-fold firms have over US$1.6t the next in five tax years. havens: Oxfam GE opens S’pore IT resources and support centre By Andrea Soh sandrea@sph.com.sg @AndreaSohBT Source: The Business Times © Singapore Press Holdings Limited. Permission required for reproduction. Singapore AMERICAN conglomerate General Electric on Wednesday opened an Asia Digital Operations Centre (A-DOC) in Singapore as part of a commitment to develop digital industrial capabilities in the city-state. Underlining the new thrust in Singapore, it also signed partnership agreements with grid operator SP Group, Spring Singapore and Singapore Institute of Management’s entrepreneurship centre Platform E. The group’s A-DOC is the first such centre in Asia, and is part of a larger strategy by the company to transform how IT is delivered across the group. The centre, which helps provide round-the-clock IT resources and support for GE, will house about 60 employees initially, with the potential to expand software jobs three-fold over the next five years. Separately, GE has also teamed up with SP Group, formerly known as Singapore Power, to develop capabilities in Industrial Internet of Things and intelligent applications so as to enhance the reliability and efficiency of the power network in Singapore. Specifically, engineering and digital experts from both companies will work to create a digital replica of the Singapore grid, known as a “digital twin”, which will enhance the performance of the network and reduce unplanned downtime. Having a digital twin of the network is akin to providing the doctor with health data every minute instead of going for a medical check-up once a month, SP chief digital officer Samuel Tan explained. With the real-time data, abnormal activity can be picked up more quickly, allowing for predictive maintenance that reduces costs, he told The Business Times. Data about the performance of the grid can also be compared with those from other grids around the world, allowing SP to enhance the grid’s performance further, he said, adding that these could potentially result in lower costs. SP is the first utility to work with GE on a digital twin; results from the partnership can be expected within 12-18 months, Mr Tan said. GE is also collaborating with Spring Singapore to develop a startup incubation and acceleration programme to promote ideas and solutions in Industrial IoT technology. These include agile programming, machine learning and algorithms for asset performance management, and cybersecurity. Similarly, it plans to establish a co-working space with Platform E to incubate Industrial IoT startups in Singapore and the region. “The Industrial Internet represents a multi-billion dollar opportunity for industry,” said GE chairman and CEO Jeff Immelt in a statement. “We look forward to working with our partners in Singapore to build a digital ecosystem and support entrepreneurship in the country.” Washington ues every year,” Oxfam senior adviser holders at the expense of important Separately, THE 50 largest US companies, including Apple, Microsoft and Wal-Mart, Apple is at the top of the ranking And the drastic reduction in cor- Singapore Shipping Forum 2017 Robbie GE Silverman has said. also teamed anti-poverty programmes. up with SP Group, are formerly parking about US$1.6 known trillion in with as more than Singapore US$200 billion offshore funds, followed closely by Pfstructive race to the bottom that has The Future of Shipping: Game Changers Power, porate income tax to will “feed develop into a de- capabilities in offshore tax havens to reduce their US tax burden, according to a study izer laboratories (US$193.6 billion) seen countries across the globe slash- published on Wednesday. Industrial and Internet Microsoft’s IT group of (US$124 Things bil- corporate and tax rates intelligent recent applications America said so the sum as for to 2015 enhance companies to keep profits the from reliability for- Meanwhile, “repatriation and efficiency holidays of the 27 April 2017, Thursday, 12pm to 3.30pm Poverty-fighting organization Oxfalion), the report said. US law allows years,” the report said. was a US$200 billion increase over eign operations offshore indefinitely, reward companies for keeping (Registration starts at 11am, includes lunch and networking cocktail) the prior year. The report cites the to avoid corporate taxes that are money offshore and avoiding their companies’ power own data. network among in the Singapore. highest the industrialized world. While the corporate tax move their profits to tax havens in ex- 10 Bayfront Avenue, Singapore 018956 taxes” and “incentivizes companies to Level 4, Orchid Room, Marina Bay Sands Expo & Convention Centre While not illegal, the companies “used a secretive Specifically, network of 1,751 rate engineering is nominally 35 per cent at the and pectation digital that they will experts eventually benefit from a one-time tax cut.” unprepared. A wave of game changers is upon the industry, disrupting maritime operations, technology, environmental from The maritime both industry sails at the edge of a disruptive storm that threatens to up-end the industry and engulf the subsidiaries in tax havens to stash” federal level, Oxfam said these 50 their earnings outside the US, Oxfam companies had an effective rate “President Trump promised to fix regulatory compliance and financing, even as the industry weathers a prolonged downturn since 2008. In the shipping said companies in the report released ahead will of nearly work 10 percentage to points create lower. a the digital rigged political and replica economic system yet his tax reforms will further en- this backdrop, we are pleased to present the Singapore Shipping Forum 2017, organised jointly by Moore Stephens LLP and of the Singapore grid, known as a “digital twin”, which will enhance industry today, astute recognition of opportunities and uncompromising cost effectiveness are absolute necessities. Against next week’s meetings of the International Monetary Fund and World Bank Donald Trump proposed cutting the rich powerful corporates at the ex- During his campaign, US President BNP Paribas, where we invite specialists and key players to share views on how maritime industry participants could best in Washington. rate to 15 per cent, and allowing companies to repatriate their cash re- businesses,” Mr Silverman said. “The pense of ordinary people and small respond to and capitalise on opportunities. “Tax avoidance has become standard the business performance practice across the serves with of a one-time the tax network of 10 per President and leaders reduce in Congress unplanned Topics covered: Who should attend? • Sailing in Turbulent Waters − Quo Vadis? CEO, CFO, COOs & Senior Professionals globe. Corporate tax dodgers cheat cent. Oxfam criticized both proposals, saying the tax cut would help prof- a tax system that works for everyone must rethink their reforms and build • The Future of the Baltic Exchange under Singapore Leadership of the Shipping Industry. America out of approximately downtime. • Impact of Shipping Regulations and Regulatory Costs US$135 billion in unpaid tax revenitable companies and wealthy share- and not just a fortunate few.” AFP By invitation only. • Panel: Ship Finance − The Shift from West to East For more information, please contact • Panel Discussion Ms. Victoria Lee at shipping@ Having a digital twin of the network is akin to provid- moorestephens.com.sg Rotorcraft ing the doctor Asia with gives health peek into data future every tech minute instead of going Nisha Ramchandani for a medical check-up once Asia will a feature month, commercial and SP de- chief digital By nishar@sph.com.sg fence applications and new solutions @Nisha_BT officer Samuel Singapore Tan explained. in With aerial, ground, the surface real-time and underwater unmanned systems. It will data, abnormal from activity the Asia-Pa- can be picked ers, up service more providers, buyers, quickly, aca- allowing Chairman Guest of Honour: AMID robust demand for new bring together manufacturers, suppli- Mr. Esben Poulsson build-helicopters International Chamber cific, the upcoming Rotorcraft Asia demia as well as government officials of Shipping President 2017 event will focus on new technologies and solutions for rotary wing Association Both events will have a VIP Buyers and regulatory bodies. Singapore Shipping for predictive maintenance that reduces costs, he told The aircraft. Programme, which will serve as a platform for exhibitors to meet buyers Business Rotorcraft Asia, which Times. is co-located with Unmanned Systems Asia, via pre-arranged meetings; VIP buyers attending include senior repres- will be held from April 18 to 20 at the Mr Leck of Experia Events says the Changi Exhibition Data Centre. about the performance entatives of the from the grid industry and can from also be compared “Innovation with in Rotorcraft” those is from other grids nam’s Ministry around of Public Security the and world, allow- rotorcraft market will continue A two-day strategic conference growing for the next 10 years. government bodies such as Viet- themed being held as part of the rotorcraft the Indonesian National Police. for Bell Helicopter and Pascal Mr. Julian Bray event where industry experts and This comes as the Asia-Pacific market will account 37 cent further, of he said, Editor-in-Chief Dauriac, research and technology director for Safran Helicopter Engines. TradeWinds business ing heads SP will to come enhance together to the grid’s performance share insights on pertinent issues 10,375 civil helicopters to be delivered by 2025, and challenges faced by manufacturers and operators of rotorcraft. Over the three days, over 4,000 adding that these trade visitors could from more potentially than 40 result making it the in biggest lower costs. driver of demand by region. “That One topic that will be discussed is countries are expected attend the really tells you the market is growing data analysis, SP and is its uses the in predictive maintenance. For instance, span a floor area of 5,000 square first two inaugural utility exbitions, to which work will and with will continue GE to grow on in the next a digital twin; 10 years,” said Mr Leck. sensors installed in components can metres. Companies will include international partnership and local heavyweights such can be expected within 12-18 The global unmanned aircraft systems market is expected to be worth results from the transmit data in real-time, allowing rotorcraft operators to predict when as Lockheed Martin and Singapore US$10.9 billion by 2021, while Asia Pacific’s commercial drone market is maintenance months, should be scheduled. Mr Tan Technologies said. Engineering. Smart data and big data can be useful tools especially as customers panies from the entire rotorcraft sup- A University R&D showcase will Other sponsors: Rotorcraft Asia will showcase com- projected to grow to US$650 million. grow more GE demanding, is also highlighted collaborating ply chain, from airframes, components and parts, to avionics, safety systions for unmanned systems and with also highlight Spring solutions and Singapore applica- to develop Experia a Events. startup Speakers at tems incubation and maintenance, repair and drone acceleration technology which have been programme Media Partner: to Leck Chet Lam, managing director of organiser the conference will include Jean-Brice overhaul (MRO). There will also be developed by local universities and Dumont, executive vice-president of helicopter mock-ups, as well as real tertiary institutions. Some of these applications Industrial are being used as IoT part of technology. Airbus promote Helicopters; J Scott ideas Drennan, helicopters and solutions on display. in director of engineering innovation Meanwhile, Unmanned Systems Singapore’s Smart Nation initiatives. These include agile programming, machine learning and algorithms for asset performance management, and cybersecurity. Similarly, it plans to establish a co-working space with Platform E to incubate Industrial IoT startups in Singapore and the region. “The Industrial Internet represents a multi-billion dollar opportunity for industry,” said GE chairman and CEO Jeff Immelt in a statement. “We look forward to working with our partners in Singapore to build a digital ecosystem and support entrepreneurship in the country.” Mr. Mick Aw Senior Partner Moore Stephens LLP Singapore Mr. Matthew Forrest Director, Transportation Sector, Investment BNP Paribas Singapore Mr. Logan Chong Managing Director BNP Paribas Hong Kong Mr. Steve Saxon Expert Partner - Shipping McKinsey and Company Mr. John d'Ancona Divisional Director - Dry Bulk Analysts Clarksons Asia | 5 Speakers Panelists Mr. Yang Chang Kun Managing DIrector Shipping ICBC Financial Leasing Mr. Mark Jackson Baltic Exchange Mr. Dimitris Belbas Managing Director EMS Partners Held in conjunction with: Mr. Jerry Yang Head of Shipping Minsheng Financial Leasing Co., Ltd Mr. Peter Hinchliffe Secretary-General International Chamber of Shipping Mr. Chris Johnson Partner Moore Stephens LLP Singapore Supported by: Mr. Terrence Tan Director, Transportation Sector, Investment BNP Paribas Singapore Mr. Tony Zhao General Manager & Head of Financial Market Department CMB Financial Leasing

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.

Contents Taking The Heat Off Cooling: A Greener Way to Cool This white paper was published by SP Group and Temasek. A version of the report can be found at www.ecosperity.sg. © August 2021, SP Group and Temasek. All Rights Reserved. 4 7 8 10 14 16 17 22 23 24 25 26 27 34 Forewords Executive Summary The Hot Issue of Keeping Cool District Cooling 101 Tampines Eco Town: A Distributed District Cooling Network Methodology Key Findings Key Insights The Way Forward Acknowledgements Useful Units of Measurements Conversion Factors Annex – Detailed Methodology References Forewords 04 Forewords Mr Masagos Zulkifli Adviser to Tampines GROs, Minister for Social and Family Development, Second Minister for Health and Minister-in-charge of Muslim Affairs Tampines aspires to transform into an Eco Town by 2025, in support of the Singapore Green Plan 2030. In recent years, our estate has been undergoing a green facelift to create a more sustainable living environment for residents. For example, we have piloted Eco Boards at lift lobbies to help residents track how much electricity and water they use as a block. We also contributed to the national renewable energy drive through the installation of solar panels on our blocks and implemented programmes to recycle food waste. These were very well received by Tampines residents and encouraged a sustainability culture at the neighbourhood level. Encouraged by these successes, we are now looking at how we can enable commercial buildings to adopt sustainable practices. Apart from being a residential estate, Tampines is also an active and mature business hub, home to an industrial park, several office complexes, and a cluster of shopping malls. There are many opportunities to do more in this area. Hence, we have offered Tampines Central as a testbed for an innovative cooling concept, known as the Distributed District Cooling (DDC) network. Conceived by SP Group, the network is a novel approach to district cooling in a brownfield development, allowing the building owners to use less energy for their cooling needs as a whole. The results of the feasibility study look promising. There is a potential of 18 per cent fall in carbon emissions – equivalent to removing 2,250 cars from the roads annually – when the DDC network takes off. This is the first time in Singapore where existing buildings in a brownfield site pool together their resources to achieve substantial carbon footprint savings. Another first for Tampines! I hope that the study will pave the way for such solutions to be explored in other townships and brownfield sites, contributing to our national sustainability efforts. One challenge that we have observed confronting building owners is energy consumption. A large part of the energy consumed in commercial buildings goes to cooling. Taking The Heat Off Cooling: A Greener Way to Cool Forewords 05 Ms Amy Hing 1 Deputy Secretary, Ministry of Sustainability and the Environment Climate change poses an existential challenge for Singapore. Sea level rise threatens our island nation, while changes in the climate jeopardise our access to essential resources such as water and food, and have consequences for public health and diseases. The Centre for Climate Research Singapore projected that by 2100, daily mean temperatures in Singapore could rise by up to 4.6 degrees Celsius. Days with peak temperatures hitting 40 degrees Celsius may appear as early as 2045. We are already experiencing such effects; four out of the last six years are amongst the top 10 warmest years recorded in Singapore. We need a whole-of-nation effort to address climate change. The Singapore Green Plan 2030 is our roadmap towards sustainable development and to achieve our long-term net-zero emissions target as soon as viable. It involves everyone – from individuals and communities to businesses and the public sector. A key pillar of the Green Plan is Energy Reset, which looks at how we can use cleaner energy and increase our energy efficiency. This is particularly relevant for our towns, which require energy for cooling needs. This study by Temasek and SP Group explores an innovative district cooling solution in a brownfield site that can potentially lower the carbon footprint while addressing the needs of residents and businesses in our tropical climate. I hope that the data and insights gained from the feasibility study will encourage more ideas and collaboration on innovative district-level solutions, bringing us closer to our goals under the Green Plan. Image: Artist’s impression of Tampines Eco Town Studying the Impact of a Source: Brownfield Tampines Distributed Town Council District Cooling Network in Singapore Forewords 06 Dr Steve Howard Chief Sustainability Officer Temasek International Mr Stanley Huang Group Chief Executive Officer SP Group The global community has moved from concern over climate change to recognising it as a climate emergency. As we see the consequences of climate change all around us, we know our window to act has been reduced. We must move with renewed urgency and greater ambition to decarbonise across sectors. One key sector is the built environment, which contributes close to 40 per cent of global energyrelated carbon emissions. A significant portion of this comes from the energy consumed by buildings, predominantly for heating or cooling. In tropical regions like Singapore where the weather is hot all year round, the demand for cooling will only increase and a more efficient way to cool buildings could significantly reduce their energy consumption and carbon emissions and reduce the burden on household budgets. We need a tripartite effort from businesses, governments, and investors to rethink the way buildings and districts are designed, built, and operated. This has the potential to generate significant economic benefits, such as reduced lifecycle costs for buildings. Temasek’s wide network of partners makes it possible to help bring together the different stakeholders necessary to address this challenge. Temasek is delighted to partner with SP Group to study the feasibility of a novel distributed district cooling concept for brownfield developments, which could provide a proof-of-concept for developed cities worldwide. Sustainable development underpins Singapore’s long-term goal to build a resilient future. Enabling urban decarbonisation is pivotal to this vision. In land-scarce Singapore, we must constantly innovate our built environment to optimise land and building resources as well as minimise our carbon footprint. In Singapore, with air-conditioning accounting for up to 50 per cent of the total energy consumed in a building, we need to redesign how interiors can be cooled in a sustainable and costeffective manner. Therein lies the solution of a district cooling network. Its benefits are fourfold: enhances energy savings, lowers cost of cooling, improves land use, and reduces carbon emissions. These are validated through SP Group’s proven track record of 100 per cent reliability and up to 40 per cent improvement in energy efficiency in building and operating Singapore’s first district cooling project at Marina Bay since 2006. We are also developing Singapore’s first residential centralised cooling system for the Tengah precinct. We are optimistic this feasibility study on a distributed district cooling network in Tampines will yield business and environmental benefits. This will pave the way for existing buildings and districts to go green and lay the cornerstone for future eco-districts. Sustainability is central to our long-term strategy, and it requires the collective effort and collaborative partnership of building owners, government agencies, the community and solution providers such as SP Group. Together we can harness our combined strengths to enable widespread adoption of sustainable energy solutions in Singapore and build green energy ecosystems for commercial districts, residential towns, and campuses for a greener and better future. Taking The Heat Off Cooling: A Greener Way to Cool Executive Summary 07 Executive Summary 2011 to 2020 was the warmest decade on record. Earth’s six warmest years have all occurred since 2015 – yet another sign of global warming’s grip on the planet. Researchers around the globe have cautioned that this trend will not only continue, but also increase in extremity. As temperatures climb, cities are desperate to stay cool. Unfortunately, the current simplest and most mainstream solution worsens the problem – air-conditioning. They are energy guzzlers, generate more waste heat than cooling, and contribute to climate change by emitting hydrofluorocarbons, chemicals that trap heat in the atmosphere at alarming rates. There is a critical need to find a better way to cool down our living environment. One solution that has gained traction across the globe is district cooling – central cooling plants that supply chilled water to various buildings through an underground network of insulated pipes. These plants consume less energy for the same amount of cooling, free up space, and reduce lifecycle costs as buildings do not need to invest in their own chillers. Such systems are already being used in Singapore, such as the Marina Bay district – cooling more than a dozen buildings in the area, including Marina Bay Sands, the Marina Bay Financial Centre, and One Raffles Quay. There is, however, a limitation to the way district cooling systems are currently built. They are typically incorporated into the design of a new development, and hence are more suitable for greenfield sites. For built-up or brownfield sites with buildings that already have their own chiller plant systems, it becomes much harder to introduce district cooling. Hence, a novel approach – a distributed district cooling (DDC) network – is being explored in Tampines Central, under the Tampines Eco Town initiative. It was conceptualised by SP Group, a leading energy utilities company. In the DDC network, existing cooling systems of selected buildings will produce chilled water for their own cooling needs and that of other buildings within the district. A preliminary feasibility study was conducted on this DDC network concept in Tampines Central, and the results were promising. In one year, the DDC network could potentially achieve: A 17% reduction in energy consumption - enough to power 1,665 three-room HDB households for a year A 18% fall in carbon emissions from both energy savings and refrigerant reduction – equivalent to removing 2,250 cars from roads per year S$4.3 million in annual economic value from energy, equipment replacement and maintenance cost savings, as well as potential earnings from leasing out freed-up chiller plant space The findings show that the DDC network would be able to lower energy consumption and carbon footprint. It is a possible game changer that could green entire developments at one go – an attractive solution for brownfield sites such as industrial estates and existing townships. With Singapore announcing the Singapore Green Plan 2030 to address climate change and promote sustainable living, district cooling networks could open the door to a cooler and cleaner future. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore The Hot Issue of Keeping Cool 08 The Hot Issue of Keeping Cool • As temperatures rise, so does the use of air-conditioners. There are over one billion air-conditioning units in the world right now – a number that is expected to increase to 4.5 billion units by 2050. • These electrical appliances consume large amounts of energy to bring temperatures down. Cooling systems typically make up about 40 to 50 per cent of a building’s total energy consumption. • But beyond cooling you down, air-conditioners can also leak potent greenhouse gases that exacerbate climate change – leading to even higher temperatures. Air-conditioners commonly use hydrofluorocarbons (HFCs) as refrigerants, which are 116 to 12,400 times more efficient at trapping heat than carbon dioxide. • The heat is on to find a more efficient way to cool. The air-conditioner is hailed as one of the most important inventions in modern history, allowing people to control and cool the weather inside. But after removing the heat and humidity indoors, airconditioners in fact lead to warmer temperatures outside, contributing to the Urban Heat Island (UHI) 1 effect. Singapore has the highest per capita installed rate of air-conditioning among the Association of Southeast Asian Nations (ASEAN) countries, with about 80 per cent of households owning air-conditioners. While air-conditioners can provide thermal comfort, they consume a lot of energy to do so. Air-conditioning currently accounts for up to 24 per cent of the average household electricity bill in Singapore. For an entire commercial building, cooling systems typically make up 40 to 50 per cent of its total energy consumption. Air-conditioners also often use hydrofluorocarbons (HFCs) that trap heat – making them potent greenhouse gases that contribute to climate change should they leak into the atmosphere. In fact, the concentration of HFCs in the atmosphere is growing at a faster rate than that of all other greenhouses gases, and studies have shown that their growth could cancel out the entire benefit of controlling carbon dioxide (CO 2 ) emissions. On the whole, this means an enormous drain on power and a comparable jump in carbon emissions should electricity generation in Singapore continue to be dominated by fossil fuels – a future that Singapore is determined to avoid. The city-state aims to halve the amount of emissions it produces from its 2030 peak by 2050, eventually achieving net-zero emissions as soon as possible in the second half of the century. 1 The Urban Heat Island (UHI) effect refers to a phenomenon where urban areas face higher temperatures than its surrounding rural areas. It is caused by the heat generated from human activities and trapped by urban surfaces such as buildings and roads. Taking The Heat Off Cooling: A Greener Way to Cool The Hot Issue of Keeping Cool 09 DID YOU KNOW? In Singapore, urban built-up areas can be up to 7°C warmer than areas that are more rural. Recognising the need for more sustainable living, the Ministry of Sustainability and the Environment (MSE) set up a SG Eco Office in March 2020 to spearhead and coordinate sustainability projects across Singapore. Cooling is an important part of this work. Building owners, developers, and regulators need to rethink their cooling systems. One town that is doing so is Tampines, which is transforming into an Eco Town where the spirit of sustainability is built into its infrastructure and instilled in its community. It has piloted dashboards at the lift lobbies of several residential blocks to help residents track electricity and water usage as a block, introduced programmes to recycle food waste, and potentially having the greatest impact – it is studying the possibility of implementing a novel distributed district cooling network. This report takes a closer look at a preliminary feasibility study on a proposed cooling network that involved 14 commercial buildings in Tampines Central. The following sections will include details of the study’s methodology, and the resulting energy savings and reduction in carbon emissions among the buildings. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore District Cooling 101 10 District Cooling 101 • District cooling is a modern and efficient way to provide air-conditioning for a network of buildings, where chilled water is supplied from centralised cooling plants. • The benefits of district cooling include enhanced energy savings, lowered lifecycle costs, and reduced carbon emissions. A District Cooling System Imagine a giant air-conditioner that can cool an entire district of buildings, rather than just individual buildings – but greener and more energy efficient. How does it work? 1 Chilled water is generated in a central cooling plant. 2 A closed loop network of underground insulated pipes distributes the chilled water to each customer’s building. OFFICE BUILDINGS RETAIL BUILDINGS COMMUNITY CENTRES 3 When the chilled water reaches the customer’s building, energy transfer stations within each building circulate the cold energy from the network into the building’s airconditioning system, which dehumidifies and cools the air. COOLING TOWERS 3 4 4 The warmer water is then circulated to the cooling plant, via the return pipes, to be chilled again. The whole process repeats itself. 5 2 Chilled water (4 to 7°C) Warmer water (12 to 14°C) 5 Thermal storage tanks (if used*), are designed to store cold energy, in the form of ice or chilled water. Thermal storage tanks help to regulate cooling demand and provide resilience. 1 Energy transfer station CENTRAL COOLING PLANT Thermal storage tank *Not all district cooling system plants deploy thermal storage tanks. Taking The Heat Off Cooling: A Greener Way to Cool District Cooling 101 11 Benefits of district cooling systems Improves efficiency A chiller plant system in one building is unlikely to be operating at its optimal efficiency at all times due to partial loading conditions. This is typical during actual operations, where the cooling demand of a building fluctuates. However, a district cooling system is expected to operate closer to its optimal efficiency level most of the time as it will accurately select the most suitable mix of chillers to meet the aggregated cooling demand. Saves energy Larger systems typically consume less electricity for the same amount of cooling due to economies of scale, which improves the energy efficiency of the system. When combined with thermal storage capabilities, the system can further reduce peak electricity demand for cooling by shifting chilled water production to periods where there is less demand on the electricity grid. Frees up space Each building no longer needs to house its own cooling equipment, which means that building owners are able to use the freed-up space for other purposes, or even lease them out. Cuts costs Building owners no longer need to buy their own chillers or incur operating and maintenance costs. The need to invest in additional chillers to buffer for potential increases in cooling needs and provide redundancy is also eliminated. Reduces carbon footprint With an overall reduction in refrigerants used, the amount of harmful HFCs emitted into the environment will be reduced as well. In addition, a reduction in overall energy consumption will in turn lower carbon emissions. Provides the network effect The initial cost of building the district cooling infrastructure may be high. However, once the infrastructure is laid, the cost of connecting an additional building will be significantly lower. Over time, the benefits that the system brings to customers would significantly outweigh the costs of connecting them to the network. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore District Cooling 101 12 CASE STUDY A cool secret beneath Marina Bay Lying 25 metres beneath the ground in Singapore’s Marina Bay district is the world’s largest underground district cooling system. Designed, built, and operated by SP Group, the system produces up to 35,000 refrigeration tons (RT) of chilled water each hour, and serves 16 developments in the area, including Marina Bay Sands, the Marina Bay Financial Centre, and One Raffles Quay. Water is chilled to 4.5 degrees Celsius at two cooling plants before being transported to the buildings through five kilometres of insulated underground network pipes. The chilled water is used to provide air-conditioning for the buildings by cooling the air circulating in the occupied spaces in each building before being pumped back to the plants to be chilled again. This cycle is then repeated. The heat extracted from the buildings is carried by the water back to the plants and released into the surrounding environment through large cooling towers above ground. Building owners using the district cooling system have enjoyed significant energy savings and carbon emissions reduction. By centralising the production of chilled water and removing the need for buildings to have their own chiller plant, the district cooling system has also freed up some 25,000 square metres of prime land space for other uses, such as the Marina Bay Sands infinity pool, which is also the world’s largest rooftop infinity pool. Building owners using the system have enjoyed significant energy savings and carbon emissions reduction. The system has also freed up some 25,000 m 2 of prime land space for other uses. Taking The Heat Off Cooling: A Greener Way to Cool 13 Can district cooling be applied to existing developments? Given the engineering complexity and the significant upfront infrastructure costs involved, a district cooling system is typically introduced in greenfield developments, where it is integrated into the design of the development – like the Marina Bay case study. But in a highly developed city like Singapore, where majority of land has been built up and individual building owners already equipped with their own chiller plants, how can the concept of district cooling still be applied? Tampines Eco Town: A Distributed District Cooling Network 14 Tampines Eco Town: A Distributed District Cooling Network The proposed Distributed District Cooling (DDC) network comprises 14 buildings interconnected via insulated network pipes. Instead of constructing a new centralised cooling plant, buildings in the DDC network with existing excess chiller capacity act as injection nodes, supplying chilled water to cool the rest of the buildings in the network. To find out if district cooling could be applied to existing developments or brownfield sites, a study was conducted at Tampines Central. It involved 14 buildings – a mix of retail and commercial premises, and data centres – each with its own chiller plant system. An initial assessment made on the 14 buildings’ existing cooling capacity yielded the following results: A total annual cooling load of 42,897,215 RTh/year, of which 88% belonged to chiller plant loads and 12% belonged to unitary systems A current total installed cooling capacity of 25,836 RT, which exceeds the hourly peak operating cooling load of 8,395 RT by three times 88% Chiller plant loads Peak cooling load 12% Unitary systems Installed cooling capacity A unitary system refers to self-contained airconditioning that provides cooling to a localised zone. The common examples are Multi-room split units, Variable Refrigerant Volume units, and Packaged units. Unitary systems are popular among users who require cooling for a specific area that the building might not have previously catered for (e.g. tenanted space and server rooms). Unitary systems are typically less efficient than chiller-based systems. x 3x The results indicate that there were chillers operating at partial capacity and redundant chillers that were not in operation at all. This presented an opportunity to optimise the usage of the existing chiller plant systems to reduce the overall energy consumption and, ultimately, the greenhouse gas emissions of the buildings. Applying the principles of district cooling, SP Group conceptualised a Distributed District Cooling (DDC) network, where 14 buildings would be interconnected via insulated pipes that distribute and circulate chilled water in a closed loop. The key to the energy savings for the DDC network, compared to buildings operating their own chiller plants individually, lies in the concept of an integrated operation. Through the consolidation of individual buildings, the DDC network is able to choose the best combination of chillers amongst the different chiller plants to most efficiently meet the fluctuating cooling demands throughout day and night. A few existing chiller plants are chosen to serve as “injection nodes” 2 , producing and supplying chilled water to meet the cooling demands of all buildings within the network. This would allow the required installed cooling capacity to be streamlined to meet actual cooling demands, allowing the chiller systems to operate at optimum efficiency. The remaining excess capacities would subsequently be trimmed once these redundant chillers reach their end-of-life. 2 The chiller plants that were selected to serve as injection nodes typically had excess capacities (≥1000 RT) and very good energy efficiencies (≤0.68 kW/RT). Taking The Heat Off Cooling: A Greener Way to Cool Tampines Eco Town: A Distributed District Cooling Network 15 The 14 Buildings Involved in the Feasibility Study of the DDC Network in Tampines Central 1 6 10 13 8 12 3 4 5 11 2 9 7 14 1 7 & 9 Tampines Grande 6 OCBC Tampines Centre One 11 Tampines Plaza 1 DDC network pipes 2 Century Square 7 OCBC Tampines Centre Two 12 Tampines Plaza 2 3 CPF Tampines Building 8 Our Tampines Hub 13 Telepark 4 Income At Tampines Junction 9 Tampines Mall 14 UOB Tampines Centre 5 Income At Tampines Point 10 Tampines One Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Methodology 16 Methodology The energy savings and reduction in refrigerant that the DDC network could offer over the Business-as-Usual (BAU) scenario, over 30 years, were first calculated. 30 years is the typical tenure of a district cooling project. Thereafter, the total carbon emission reduction and long-term economic value were determined. More detailed information on the study’s methodology can be found in the Annex. STEP 1 What are the energy savings? Calculate the difference in the amount of energy consumed to cool the 14 buildings between the DDC network and the BAU scenario over 30 years. Calculate the resulting carbon emissions reduction from the energy savings (A), using the EMA Grid Emissions Factor. 3 STEP 2 What is the reduction in refrigerant used? Calculate the difference in the type and amount of refrigerant used to cool the 14 buildings between the DDC network and the BAU scenario over 30 years. Calculate the resulting carbon emissions reduction from the reduction in refrigerant used (B). STEP 3 What is the total reduction in carbon emissions? Total carbon emissions reduction from using the DDC system over 30 years = A + B. STEP 4 What is the long-term economic value? Calculate the economic value of the DDC network over 30 years from: • Electricity bill savings • Capacity charge savings • Carbon tax savings • Potential rental earnings if the freed-up • Equipment replacement cost savings chiller plant space were to be leased out • Operation and maintenance cost savings 3 The Grid Emission Factor (GEF) measures the average CO 2 emissions emitted per MWh of electricity generated. For the study, the EMA GEF (2019) of 0.4085 kgCO 2 /kWh was used. Taking The Heat Off Cooling: A Greener Way to Cool Key Findings Tampines Eco Town Distributed District Cooling Network Feasibility Study ENERGY CONSUMPTION CARBON EMISSIONS 17% reduction An annual savings of 5,321,432 kWh Enough to power 1,665 3-room HDB households in a year 18% reduction An annual decrease of 2,475 tonnes of CO 2 e Equivalent to taking 2,250 cars off the road per year ECONOMIC VALUE $130 million over 30 years Or $4.3 million a year, mainly from: Energy, maintenance, and equipment replacement cost savings Potential earnings from leasing out freed-up chiller plant space Key Findings 18 Key Findings Energy Savings of 17% In the BAU scenario, the efficiencies of the chiller plants ranged from 0.57 to 0.83 kW/RT, and the efficiency of the unitary systems was 1.57 kW/RT. This results in a weighted average system efficiency of 0.765 kW/RT from all the cooling systems across the 14 buildings. In comparison, the DDC network’s efficiency is targeted to be maintained at 0.620 kW/RT or better across 30 years. In addition, the DDC network would be operated by a third-party professional service operator and comply with the National Environment Agency’s (NEA) Minimum Energy Efficiency Standards (MEES) requirements by 2025/2029, which would help to ensure more consistent and efficient system performance over long periods. Therefore, moving to the DDC network would save the 14 buildings approximately 5,321,432 kWh of energy a year, or 17 per cent of the BAU energy consumption – enough to power 1,665 three-room HDB households. With less energy expended, carbon emissions would also be reduced. The annual average carbon emissions reduction would be 2,174 tonnes of carbon dioxide equivalent (tCO 2 e) – equivalent to taking 1,976 cars off the roads per year. Potential energy savings from moving to the DDC network Carbon emissions reduction from the potential energy savings from moving to the DDC network 17% 17% 31,917,705 26,596,273 13,038 10,865 BAU scenario DDC network Annualised average energy consumption (kWH) BAU scenario DDC network Annualised average carbon emissions (tonne-CO 2 e) Moving to the DDC network would save enough energy to power 1,665 3-room HDB households in a year. The annual average carbon emissions reduction is equivalent to taking 1,976 cars off the roads per year. Taking The Heat Off Cooling: A Greener Way to Cool Key Findings 19 Refrigerant Reduction of 76% Hydrofluorocarbons (HFCs) are commonly used as refrigerants 4 in cooling systems and contribute more to global warming than CO 2 . They are released into the environment mainly through cooling equipment leakages. A HFC leakage rate of two per cent a year was assumed for this study. The combined hourly cooling load demand from both chiller plant and unitary systems of the 14 buildings peaks at around 8,395 RT. However, the current total installed capacity is about three times more at 25,836 RT (24,446 RT from chiller systems and 1,390 RT from unitary systems). In comparison, the DDC network is designed to have a total chiller capacity of 10,280 RT. As the DDC network has a much smaller installed chiller capacity compared to the BAU scenario, significantly less amount of refrigerant will be used. In addition, the BAU unitary systems use the R-32 refrigerant, which has a higher global warming potential 5 compared to the refrigerant used by the chillers. Once the buildings are interconnected in the DDC network, unitary systems will no longer be required as buildings would be able to enjoy the chilled water services at all times, removing the need for unitary systems to provide ad-hoc cooling. This would also lead to lower carbon emission numbers. The annual average carbon emissions reduction would be 301 tCO 2 e – equivalent to taking 273 cars off the road per year. Carbon emissions reduction from the potential reduction in refrigerant used in the DDC network 395 94 76% As the DDC network has a much smaller installed chiller capacity compared to the BAU scenario, significantly less amount of refrigerant will be used. BAU scenario DDC network Annualised average carbon emissions from refrigerant use (tonne-CO 2 e) The annual average carbon emissions reduction is equivalent to taking 273 cars off the roads per year. 4 Refrigerant is a compound typically found in either a fluid or gaseous state. It readily absorbs heat from the environment and can provide refrigeration or air-conditioning when combined with other components such as compressors and evaporators. 5 The Global Warming Potential (GWP) was developed to allow comparisons of the global warming impacts of different gases. Specifically, it is a measure of how much energy the emissions of 1 ton of a gas will absorb over a given period of time, relative to the emissions of 1 ton of CO 2 . The larger the GWP, the more a given gas warms the Earth compared to CO 2 over that time period. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Key Findings 20 Carbon Emission Reduction of 18% The total carbon emissions reduction is calculated by adding the carbon emissions reduction from the energy savings and reduction in refrigerant used. The annual average carbon emissions reduction would be 2,475 tCO 2 e, or an 18 per cent reduction from the BAU scenario – equivalent to taking 2,250 cars off the roads per year. Total carbon emission reduction from moving to the DDC network 18% 13,433 10,958 BAU scenario DDC network Total carbon emissions from energy and refrigerant use (tonne-CO 2 e) Carbon emissions (tonne-CO 2 e) from BAU energy consumption: 13,038 from BAU refrigerant use: 395 from DDC network energy consumption: 10,865 from DDC network refrigerant use: 94 Carbon emissions reduction (tonne-CO 2 e) from energy savings: 2,174 from reduction in refrigerant use: 324 Taking The Heat Off Cooling: A Greener Way to Cool The annual average carbon emissions reduction is equivalent to taking 2,250 cars off the roads per year. Key Findings 21 Long Term Economic Value of $130M Besides clear environmental gains from the reduction in carbon emissions, building owners in the DDC network also stand to gain tangible monetary benefits. These include: • Electricity bill savings: With less energy consumed, electricity bills will be reduced. • Carbon tax savings: Singapore had implemented a carbon tax scheme on 1 January 2019 at a rate of S$5/tCO 2 e, from 2019 to 2023. 6 With carbon emissions reduced through the DDC network, building owners will pay less carbon tax. • Equipment replacement cost savings: In the BAU scenario, unitary systems have to be replaced every 10 years, while chiller plants have to be replaced every 15 years – capital costs that building owners will incur. With the DDC network, unitary systems are no longer required, and the installed capacity of the chiller plants will be significantly reduced from 25,836 RT to 10,280 RT to match the cooling needs of the district. As such, less capital expenditure will be incurred during a replacement cycle for the DDC network. • Maintenance cost savings: With the installed chiller plant capacity significantly decreased, maintenance costs will be lower. • Capacity charge savings: Connection to the DDC network will result in a diversified load with lower peak demand compared to the BAU scenario. This will translate to lower capacity charges (associated with peak demand) for the DDC network. • Potential rental earnings: For buildings that are not injection nodes, their existing chiller plant room space could potentially be freed up and converted to a retail or office space. This could serve as an additional revenue stream in the form of rental income for building owners. Using a DDC network over 30 years, approximately S$70,646,644 in lifecycle costs can be saved, and up to an additional S$58,985,393 in commercial value can be unlocked through the leasing of freed-up chiller plant space. The potential economic value of the DDC network (S$) 7 58,985,393 129,632,037 Sources of cost savings & their value over 30 yrs (S$) Equipment replacement: 23,055,913 70,646,644 Maintenance: 22,948,920 Electricity bill: 19,380,654 Capacity charge: 3,700,051 Carbon tax: 1,561,106 Total cost savings Potential rental earnings Total economic value 6 Please refer to the Annex – Detailed Methodology for the full carbon tax scheme in Singapore. 7 Please refer to the Annex – Detailed Methodology for the assumptions used in the calculation of each source of economic value. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Key Insights 22 Key Insights • Planning for optionality is important when embarking on greenfield projects. It helps to accommodate future works, thereby becoming more cost-effective in the long run as there is less disruption to the surrounding infrastructure. • Making the DDC network attractive to building owners is important as it encourages greater participation that contributes to the best district-level outcome. 1 2 In any brownfield development, a retrofit project can be complicated as there is often the need to navigate the existing built environment while ensuring minimal disruption to existing operations. This could also affect the economic viability of the project. Therefore, as today’s greenfield development becomes tomorrow’s brownfield development, it is important for developers and city planners to consider and build in optionality from the start when embarking on greenfield developments. This would help in accommodating future works while avoiding the complex challenges of retrofitting projects. A case in point would be the Marina Bay district, which was planned with optionality in mind. It has a common services tunnel that alleviates the need to dig up pavements or roads when additional underground pipes have to be installed to meet the needs of future developments. While the short-term costs of building a common services tunnel are high, it becomes more costeffective in the long run. This would allow district-level solutions such as a DDC network to be implemented in a brownfield site without incurring exorbitant costs and adversely affecting the current surroundings. In a district-level system, greater participation paves the way for better outcomes due to economies of scale, and because certain critical roles may need to be fulfilled by specific stakeholders. It is then useful to consider how incentives may be designed to ensure not only maximum participation, but also the participation of those critical to the success of the system. For instance, the proposed DDC network in Tampines Central comprises injection nodes and off-takers. Off-taker buildings will no longer have to house a chiller plant system, which frees up space for leasing to earn additional rental income. This makes it attractive for buildings to come on board as off-takers. On the other hand, while injection-node buildings will be compensated through lease and rental payments by the DDC network operator for housing chiller plants, the earnings may not compare to the more sizeable rental income that off-taker buildings could potentially enjoy. As injection nodes play a critical role in the viability of the overall DDC network, it is important to consider how the role could be made more attractive to building owners. Some possibilities could include providing Gross Floor Area (GFA) 8 credits to injection node buildings or providing additional recognition through awards or certification programmes. 8 All covered floor areas of a building, except otherwise exempted, and uncovered areas for commercial uses, are deemed the gross floor area of the building. Taking The Heat Off Cooling: A Greener Way to Cool The Way Forward 23 The Way Forward Based on the key findings from the feasibility study, if a DDC network were to be implemented in Tampines Central, it would have the potential to reduce energy consumption and carbon emissions by 17 per cent and 18 per cent respectively, and provide economic value of some S$130 million over 30 years. Electricity consumption in buildings and households contribute to approximately 20 per cent of Singapore’s overall annual carbon emissions. A large portion of this is due to cooling, which consumes about 40 per cent of electricity in buildings and households. This means that cooling alone contributes roughly 8 per cent of our nation’s annual carbon emissions. Should district cooling be scaled nationwide, Singapore is likely to see significant carbon emissions reduction and economic benefits. With the announcement of the Singapore Green Plan 2030 to address climate change and promote sustainable living, there is a strong impetus to explore the implementation of more district-level solutions, like the DDC network, to achieve a cleaner and greener future for all. To scale such solutions in Singapore, it will be vital for all relevant stakeholders to come together to remove any regulatory impediments, build with the future in mind, and design incentives to encourage maximum participation of all. If a DDC network were to be implemented in Tampines Central, it could provide economic value of some S$130 million over 30 years. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Acknowledgements 24 Acknowledgements Temasek and SP Group would like to thank all the organisations and individuals that have contributed to this study. Special thanks to the Ministry of Sustainability and the Environment, particularly its SG Eco Office, for the support in facilitating discussions with relevant government agencies throughout the study. Core Study Team Temasek Frederick Teo, Managing Director, Sustainable Solutions Soh Hui Qing, Vice President, Sustainable Solutions Ong Shu Fen, Senior Associate, Sustainable Solutions SP Group S. Harsha, Managing Director, Sustainable Energy Solutions Foo Yang Kwang, Chief Engineer, Singapore District Cooling Richard Chin, Deputy Director, Partnerships, Sustainable Energy Solutions Melvin Fong, Principal Engineer, Sustainable Energy Solutions Technical Advisor Building System & Diagnostics Pte Ltd (BSD) Yong Ping Quen, Technical Director Lim Xing Hao, Senior Engineer Rachel Lam Xin Yi, Executive Engineer Tan Shi Hao, Executive Engineer Participating Buildings and their Owners CapitaLand Tampines Mall Telepark Central Provident Fund Board CPF Tampines Building Frasers Property Century Square Tampines One EVIA Real Estate and Metro Holdings 7 & 9 Tampines Grande NTUC Income Income At Tampines Point Income At Tampines Junction OCBC Bank OCBC Tampines Centre One OCBC Tampines Center Two People’s Association Our Tampines Hub UIC Tampines Plaza 1 Tampines Plaza 2 UOB UOB Tampines Centre Taking The Heat Off Cooling: A Greener Way to Cool Useful Units of Measurements 25 Useful Units of Measurements Refrigerant Ton (RT) A refrigerant ton refers to the rate of heat removal required to freeze a metric ton (1000kg) of water at 0 degree Celsius in 24 hours. It is a widely adopted unit of measurement for the cooling capacity of a refrigeration machine. System Efficiency (kW/RT) The system efficiency is computed based on the annual energy consumption (kWh) of the system over the annual cooling consumption in RTh. Therefore, the unit is in kW/RT. Tonne of Carbon Dioxide Equivalent (Tonne-CO 2 e or tCO 2 e) This is a standard measurement used to express the warming impact of other greenhouse gases in terms of the amount of CO 2 emissions that would create the same amount of warming. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Conversion Factors 26 Conversion Factors As used in “Key Findings” Item Conversion References EMA grid emission factor (GEF) in 2019 1 kWh = 0.4085 kg-CO 2 e Information adapted from EMA Singapore Energy Statistics (SES) 2020 - T2.4 www.ema.gov.sg/singapore-energy-statistics/Ch08/index9 Annual energy consumption of a 3-room HDB flat 1 flat = 266.3 kWh/month x12 = 3,195.6kWh/year 2019 EMA Singapore Energy Statistics: www.ema.gov.sg/singapore-energy-statistics/Ch03/index3 Annual carbon emissions from 1 internal combustion engine (ICE) car 1 car = 1.1 tCO 2 e/year Information adapted from the LTA’s Fuel Economy Calculator: vrl.lta.gov.sg/lta/vrl/action/pubfunc?ID=FuelCostCalculator Assumptions: • Average daily traveling distance: 9.5 km per trip reported by LTA • Assumed 750 trips per year (2 times per day) As used in “Annex - Detailed Methodology” Item Conversion References Carbon emissions from R-134a refrigerant for a centrifugal chiller Carbon emissions from R-134a refrigerant for a screw chiller Carbon emissions from R-1233zd(E) refrigerant for a centrifugal chiller Carbon emissions from R-410A refrigerant Carbon emissions from R-32 refrigerant 1 RT = 1.8875 tCO 2 e Information adapted from the Leadership in Energy and Environmental Design (LEED) 9 guidelines and chiller specifications 1 RT = 1.8616 tCO 2 e 1 RT = 0.0045 tCO 2 e 1 RT = 1.6982 tCO 2 e 1 RT = 0.5511 tCO 2 e Global warming potential (GWP): • R-134a = 1300 • R-123 = 79 • R-1233zd(E) = 1 • R-410A = 1924 • R-32 = 677 Maximum refrigerant charge: • R-134a Centrifugal Chiller = 2.91 lb/tCO 2 • R-134a Screw Chiller = 2.87 lb/tCO 2 • R-123 Centrifugal Chiller = 2.00 lb/tCO 2 • R-123 Screw Chiller = 1.97 lb/tCO 2 • R-1233zd(E) Centrifugal Chiller = 2.00 lb/tCO 2 • R-410A Unitary System = 1.80 lb/tCO 2 • R-32 Unitary System = 1.80 lb/tCO 2 Unit conversion: 1 lb = 0.4536 kg 9 LEED is an internationally recognised green building certification system developed by the non-profit organisation, the U.S. Green Building Council (USGBC). It includes a set of rating systems for the design, construction, operation, and maintenance of green buildings, homes, and neighbourhoods which aims to encourage building owners and operators to be more environmentally responsible and to use resources efficiently. Taking The Heat Off Cooling: A Greener Way to Cool Annex: Detailed Methodology 27 Annex: Detailed Methodology STEP 1 Calculation of the energy savings and resulting carbon emission reduction First, the cooling load profiles of the 14 buildings were generated using the information collected from the building owners via the following documents (in the order of most to least reliable): 1 Operating System Efficiency (OSE) Report • The cooling load profile was studied, typically from 9am to 6pm for commercial buildings and from 9am to 10pm for retail buildings. • Several buildings have night loads, but these were not reported, and hence assumptions were made: – The night load will be based on the last hour’s load (if no building management system raw data is available) and the equipment run status; – The night time cooling system efficiency was estimated based on equipment specifications. 2 Building Management System (BMS) Raw Data • The raw data was scrutinised, and any anomalies or outliers were removed. • The 24-hour cooling load profile and cooling system efficiency were then calculated using the BMS raw data. 3 Energy Audit Report • The cooling load hourly profile was studied and the values estimated. • Several buildings have night loads, but these were not reported, and hence assumptions were made: – The night load will be based on the last hour’s load (if no building management system raw data is available) and the equipment run status; – The night time cooling system efficiency was estimated based on equipment specifications. – The corresponding energy consumptions are calculated and verified with the energy end-use distribution. 4 Electricity Bills • Some buildings do not have any cooling system data to work with. To include these buildings in the study, assumptions were made based on other existing buildings’ operation data. The assumptions can be seen in the table on page 28. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Annex: Detailed Methodology 28 Assumptions used to determine cooling load of buildings with no cooling system data Input Parameters Space/Equipment Reasonable Assumptions Remarks Operating Hours Commercial 2,349 h/year • Based on BCA GM NRB 2015 typical commercial hours of 9am to 6pm daily, 5 days per week Cooling Load Commercial 50 W/m 2 GFA • BCA reported average commercial cooling demand of 72W/m 2 (For AC area) • Adjusted to 50 W/m 2 , based on AC area: non-AC area of 70%:30% Lighting Power Density (LPD) Commercial 15 W/m 2 • Baseline LPD from GM V4.1: SS530-2006 Data Centre (DC) 10 W/m 2 (With diversity of 20%) • Baseline DC LPD from GM V4.1, 20% diversity mainly for maintenance, if not usually off Equipment Power Density Commercial 12 W/m 2 • Based on average office operation data collected for Green Mark Projects that have completed verification work AC System Efficiency Chiller plant 0.750 kW/RT • Assumed average figure by SP Group and BSD Air Distribution Systems (Fan Coil Units, Air Handing Units and Precool Units) Computer Room Air- Conditioning (CRAC) 0.470 kW/RT • Derived from existing buildings’ data 0.327 kW/RT • Derived from typical CRAC efficiency of 0.350 W/CHM and difference in temperature (dT) of 17 degrees Celsius Unitary System (Split Units, VRFs/VRVs) 0.930 kW/RT (for split-units) 0.808 kW/RT (for VRF/VRV) • NEA Minimum Energy Performance Standards (MEPS) – As of June 2021 Taking The Heat Off Cooling: A Greener Way to Cool Annex: Detailed Methodology 29 After the cooling loads were generated, the annual energy consumption from the chiller plant and unitary systems of the 14 buildings can be calculated for both the BAU scenario and DDC network using the following formula: Energy consumption kWh year RTh = Combined cooling load x year System efficiencies kW RT Over time, chiller plants and unitary systems will inevitably suffer from degradation. This degradation was factored in to provide a more accurate projection and accounts for an increase in the energy consumption of the buildings. The chillers in the DDC network and the chiller plants of buildings with Green Mark awards are assumed to not suffer from any degradation as the DDC network operator or building owner is required to maintain certain efficiency levels in order to comply with the respective building codes or Green Mark award. The methodology to determine the resultant energy savings and carbon emissions reduction in the long term (over 30 years) is as follows: 1 Incorporate chiller plant and unitary systems degradation factors to the BAU chiller plant and unitary system efficiency. The assumptions are as follows: a Chiller plants degradation: 1% per year (for non-Green Mark buildings) b Unitary systems degradation: 5% per year c Proposed DDC baseline efficiency: 0.620 kW/RT d For buildings that are Non-Green Mark Certified, we assume that their minimum efficiency upon retrofit is 0.750 kW/RT (to comply with latest BCA Existing Building Legislation) e For buildings that are currently under BCA Green Mark Scheme, we assume that their minimum efficiency upon retrofit will maintain their respective Green Mark ratings f For Unitary Systems, we assume their minimum efficiency to be of 0.776 kW/RT for split-units and equivalent 3-tick efficiencies for VRFs respectively (according to latest NEA’s Minimum Energy Performance Standards) 2 Compute the BAU and DDC network energy consumption and resulting energy savings over a period of 30 years. The annualised average figures are obtained by dividing by 30. 3 Compute the carbon emissions reduction from energy savings over 30 years. The annualised average figures are obtained by dividing by 30. The carbon emissions reduction is calculated using the following formula: Carbon emissions reduction, 30 years (tonne-CO 2 e) = Total energy savings (kWh) x EMA Grid Emission Factor tonne-CO 2 e kWh Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Annex: Detailed Methodology 30 STEP 2 Calculation of the reduction in refrigerant from stranded capacity & the resultant carbon emissions reduction Documents provided by the building owners were used to identify the installed capacity and refrigerant types of the chillers and unitary systems of the 14 buildings. Most of the installed chillers and unitary systems run on hydrofluorocarbon (HFC) refrigerants which have relatively high global warming potential (GWP). At present, the installed water-cooled chillers are running on either the R-134a or R123 refrigerants and unitary systems are running on the R-410A refrigerant. To reduce greenhouse gas emissions, Singapore authorities have introduced measures such as banning equipment that use high GWP refrigerants and introducing climate-friendly alternatives such as hydrofluroolefin (HFO) refrigerants which are lower in GWP. Examples of HFOs are R-1233zd(E) for chillers and R32 for unitary systems. The methodology to determine the reduction in refrigerant from stranded capacity and the resultant carbon emissions reduction is as follows: 1 Identify installed cooling capacity, replacement cycles, and refrigerant leakage rates of chillers and unitary systems, according to the LEED guidelines, in the BAU scenario and DDC network. The current installed capacities from all buildings amounts to 25,836 RT, where 24,446 RT is from chiller systems, and 1,390 RT is from unitary systems. The combined hourly cooling load demand from chiller plant and unitary systems is shown to peak at around 8,395 RT. In the proposed DDC network, the total utilised chiller capacity is 10,280 RT. 2 Identify the refrigerant type for the first and subsequent replacement cycles. The summary of installed cooling capacity, replacement cycle, refrigerant leakage rates, and refrigerant types for the BAU and DDC network scenarios are shown in the table below. Refrigerant Type Scenario System Capacity Assumed Leakage Rate Replacement Cycle 1 st cycle 2 nd cycle onwards BAU Unitary 1,390 RT 2.0% per year 10 years R-410A R-32 DDC network Chillers 24,446 RT 2.0% per year 15 years R-123, R-134a Chillers 10,280 RT 2.0% per year 15 years R-123, R-134a R-1233zd(E) R-1233zd(E) Taking The Heat Off Cooling: A Greener Way to Cool Annex: Detailed Methodology 31 3 Calculate BAU and DDC network carbon equivalent emissions from refrigerant leakage and refrigerant impact over a period of 30 years. The annualised average figures are obtained by dividing by 30. Carbon emissions (tonne-CO 2 e) Combined cooling Refrigerant lb = capacities (RT) x charge x RT Mass conversion factor tonne-CO 2 e lb from LEED guidelines 4 Calculate the resultant carbon equivalent emissions reduction for 30 years. The annualised average figure is obtained by dividing by 30. Carbon emission reduction, 30 years (tonne-CO 2 e) BAU carbon emissions, = 30 years (tonne-CO - 2 e) DDC carbon emissions, 30 years (tonne-CO 2 e) Certain key assumptions were made. Firstly, for the first replacement cycle, only carbon equivalent emissions due to refrigerant leakages were considered as there would not be any new installations. For subsequent replacement cycles, the impact on refrigerant changes due to the installation of new chillers and unitary systems were considered as well. The chiller and unitary systems were also assumed to be replaced with that of a refrigerant that complies with the latest authority requirements. By 4 th Quarter 2022, the National Environmental Agency (NEA) will ban the supply of water-cooled chillers using refrigerants with a GWP of more than 15 and household air-conditioners with GWP of more than 750. For the study, chillers previously using R-123 and R-134a refrigerants were assumed to be replaced with chillers using the R-1233zd(E) refrigerant (which has GWP of 1) after the first replacement cycle. Likewise, for unitary systems previously using the R-410A refrigerant, they would be assumed to use the R-32 refrigerant (which has GWP less than 750) after the first replacement cycle. Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore Annex: Detailed Methodology 32 STEP 3 Calculation of the total carbon emissions reduction from using the DDC network Resultant carbon emission reduction (tonne−CO 2 e) from using the DDC network over 30 years Carbon emission reduction = from energy savings + (tonne−CO 2 e) Carbon emission reduction from reduction in refrigerant used (tonne−CO 2 e) STEP 1 STEP 2 The annualised average figure is then obtained by dividing by 30. STEP 4 Calculation of the long-term economic value from using the DDC network over 30 years The economic value was calculated in terms of electricity bill savings, carbon tax savings, equipment replacement cost savings, maintenance cost savings, peak demand savings, and potential earnings if the chiller plant space were to be leased out over a period of 30 years. A summary of the calculation methodology and the assumptions made is shown in the table on page 33. Taking The Heat Off Cooling: A Greener Way to Cool Annex: Detailed Methodology 33 Calculation methodology and assumptions used to determine long-term economic value of the DDC network Source of Economic Value Calculation Methodology (30 Years Cumulative) Assumptions Electricity Bill Savings from Operational Energy Savings Energy Cost Saving over 30 Years (S$) = [BAU Energy Consumption −DDC Network Energy Consumption] x Tariff Rate Tariff Rate: S$0.1214/kWh Carbon Tax Savings Carbon Tax Reduction over 30 Years (S$) = [BAU Carbon Emissions −DDC Network Carbon Emissions] x Carbon Tax Rate at Respective Year Carbon Tax Rates (per tCO 2 e): Year 2021-2023: S$5 Year 2024-2029: S$10 Year 2030-2039: S$25 Year 2040-2055: S$50 Equipment Replacement Cost Savings from Reduction in Stranded Capacity Maintenance Cost Savings from Reduction in Stranded Capacity Peak Demand Savings from Operational Energy Savings Potential Earnings from Leasing Out Freed-up Chiller Plant Space Replacement Cost Savings, 30 years (S$) = BAU Replacement Cost – DDC Network Replacement Cost Where, Replacement Cost = No. of Replacement Cycles in 30 Years x Replacement Cost per Cycle for Respective Chiller Plants or Unitary Systems = [30 Years / Replacement Cycle Years] x [Replacement Cost Rates x Installed Capacity] Maintenance Cost Savings, 30 years (S$) = [BAU Chiller Plant Installed Capacity – DDC Network Installed Capacity] x Annual Maintenance Cost x 30 Years Peak Demand Cost Savings, 30 Years (S$) = BAU Peak Demand Cost – DDC Network Peak Demand Cost Where, BAU Peak Demand Cost (S$) = Sum of {[Annual Cooling Energy Consumption for Individual Buildings (kWh) / Annual Cooling Load for Individual (RTh)] x Individual Building Peak Cooling Demand (RT) Over 30 Years for All 14 Buildings} x Monthly Peak Demand Cost x 12 Months DDC Network Peak Demand Cost (S$) = Sum of {DDC Network Maximum Efficiency over 30 Years (kW/RT) x Annual Maximum Cooling Load of All 14 Buildings (RT) over 30 Years} x Monthly Peak Demand Cost x 12 Months Potential Earnings from Leasing Out Chiller Plant Room Space, 30 Years (S$) = [BAU Chiller Plant Room Area that may be converted to retail space (m 2 ) x Annual Retail Leasing Rate per m 2 ] + [BAU Chiller Plant Room Space that may be converted to office space (m 2 ) x Annual Office Leasing Rate per m 2 ] Replacement Cost Rates: DDC Network and BAU Chillers: S$1,500/RT BAU Unitary Systems: $650/RT Replacement Cycle Years: DDC Network and BAU Chillers: 15 years BAU Unitary Systems: 10 years Annual Maintenance Cost: S$54/RT Monthly Peak Demand Cost: S$8.90/kW DDC Plant Efficiency (kW/RT): 0.62 Monthly Leasing Rates: Retail: S$20 psf Office: S$6 psf Studying the Impact of a Brownfield Distributed District Cooling Network in Singapore References 34 References Fernaughty, Karen, and Danny Parker. “Evaluation of Air Conditioning Performance Degradation: Opportunities from Diagnostic Methods.” Florida Solar Energy Center, 17 Aug. 2018, publications.energyresearch.ucf.edu/wp-content/uploads/2018/09/FSEC-PF-474-18.pdf. Hicks, Robin. “Air-Con Addicted Singapore Seeks New Ways to Escape Urban Heat Trap.” Eco-Business, City Developments Limited and BCA, 28 Sept. 2018, www.eco-business.com/ news/air-con-addicted-singapore-seeks-new-ways-to-escape-urban-heat-trap/. Hill, Tim. “High Time Singapore Does Something about Its Inefficient Reliance on Air- Conditioning.” Today, 23 Feb. 2018, www.todayonline.com/commentary/high-time-singaporedoes-something-about-its-inefficient-reliance-air-conditioning. M, McAliney. “Arguments for Land Conservation: Documentation and Information Sources for Land Resources Protection.” Sacramento, CA: Trust for Public Land, 1993. Ministry, Of Foreign Affairs. “Towards a Sustainable and Resilient Singapore.” Sustainable Development Goals, 2018, sustainabledevelopment.un.org/content/ documents/19439Singapores_Voluntary_National_Review_Report_v2.pdf. Mokhtar, Faris. “Solving the Global Cooling Problem.” Bloomberg, 9 June 2020, www.bloomberg. com/news/features/2020-06-08/singapore-finds-a-way-to-make-air-conditioners-greener. Mokhtar, Faris. “This Is How Singapore Keeps Its Cool as the City Heats Up.” Bloomberg, 2 Dec. 2020, www.bloomberg.com/news/features/2020-12-01/singapore-climate-change-reducingheat-takes-trees-and-technology. “NEA Introduces Measures To Reduce Greenhouse Gas Emissions From Refrigeration & Air- Conditioning.” National Environment Agency, 4 Mar. 2020, www.nea.gov.sg/media/news/news/ index/nea-introduces-measures-to-reduce-greenhouse-gas-emissions-from-refrigerationair-conditioning. Tan, Audrey. “Five-Year Masterplan to Transform Tampines into Eco-Town.” The Straits Times, 24 June 2020, www.straitstimes.com/politics/five-year-masterplan-to-transform-tampinesinto-eco-town. Tan, Audrey. “Problem of Cooling in a Hotter Singapore.” The Straits Times, 9 Feb. 2021, www.straitstimes.com/singapore/environment/problem-of-cooling-in-a-hotter-singapore-0. Zhongmin, Shi, et al. “Building Regulations and Urban Policies as Incentives for Application of District Cooling Systems in Singapore.” World Sustainable Built Environment Conference 2017 Hong Kong, 2017, doi: doi.org/10.3929/ethz-a-010811301. Fuel Economy Data, Fuel Cost Calculator, vrl.lta.gov.sg/lta/vrl/action/ pubfunc?ID=FuelCostCalculator. Taking The Heat Off Cooling: A Greener Way to Cool Editorial: The Nutgraf Team: Sue-Ann Chia, Samantha Boh, Ignatius Koh Design: Studio Giraffe

OverviewSP Kids at HeartSupporting YouthStaff VolunteerismKeeping our community safe Community Empowering Lives, for Life At SP Group, we are committed to sustained giving to meet the needs of the community, creating meaningful and lasting impact. We raise funds and contribute to programmes that support vulnerable seniors, youth, and children. The SP Heartware Fund was established in 2005 in partnership with Community Chest. It currently supports vulnerable members of the community across the age spectrum. Through almost 100 critical social services programmes, we enable seniors to age with dignity, and empower young children and youth to optimise their learning and realise their potential by enhancing their social mobility. They benefit from counselling, befriending, mentorship, rehabilitation, education and enrichment resources, nutrition, and caregiver support. Our staff also contribute generously to the Fund, which SP matches dollar for dollar. In addition, SP underwrites all fund-raising and operational costs of the Fund and programmes, so that all donations will go fully to the social service organisations the Fund supports. Volunteerism is an integral part of our DNA. Our staff volunteers, known as SP Heart Workers, are passionate about giving their time, skills, and effort to improve quality of life. They drive outreach activities for the vulnerable and underserved throughout the year. We are grateful to all our staff, business associates, customers, and the public for their contributions to the Fund, over the years, in support of more social services recipients. Click here to donate SP Kids at Heart SP Kids at Heart was launched in June 2021 to support young children from low-income families in their learning journey.   More than 5,000 children under KidSTART have benefited from learning tools, including digital devices for home-based learning. To foster early literacy and parent-child bonding, new initiatives were launched in 2022, including the KidSTART Sea Adventures interactive play and KidSTART Stories, which provides lower-income families with their own mini-library to nurture reading habits. Our SP Heart Workers are also on hand to support the outreach programmes. Supporting Youth SP is committed to empowering youth with access to different developmental pathways, to pursue their education and career aspirations, regardless of their socio-economic background. We extended our support to the youth segment In April 2022 with a S$1.35 million donation to launch the inaugural SP Group Engineering Study Awards. Over three years, 450 engineering students from lower-income families at the Institute of Technical Education (ITE) will receive monthly financial support. In May 2023, SP announced a S$750,000 donation to Youth Guidance Outreach Services (YGOS) which helped launch Singapore’s first-of-its-kind mobile youth engagement outpost powered by an electric van. SP is also providing free charging for this EV on Singapore’s largest fast-charging network. In addition to this mobile outpost to extend YGOS’ outreach, the funding also enabled the refurbishment of two youth centres in Woodlands and Ang Mo Kio and ramped up operations in Jurong, which has one of the highest concentrations of youth in Singapore. Staff Volunteerism SP Heart Workers organise outreach activities for social service users throughout the year. These include befriending activities at Senior Activity Centres, helping seniors with their grocery runs, conducting digital clinics and more. At the height of the COVID-19 pandemic, SP Heart Workers also partnered FairPrice to bring a mobile supermarket to the doorstep of seniors. On the children and youth fronts, our SP Heart Workers were also actively involved in distributing learning kits to KidSTART children and their families, as well as conducting reading programmes and digital workshops at Allkin Singapore. In addition, they befriended youth at YGOS through sports and learning journeys. SP’s staff were part of national-level efforts to provide pandemic relief to the public, including the manning of hotlines for Temasek Foundation’s Stay Prepared programme and Ministry of Health’s home recovery scheme. For the latter, SP received national recognition through the COVID-19 Resilience Certificate. Its team leader and assistant team leader received the Public Service Medal (COVID-19) and they were among 16 staff presented the COVID-19 Resilience Medal. SP also received the President’s Certificate of Commendation for sustained support and contributions to the community through donations and volunteerism during the pandemic. Download SP Volunteers Guide Keeping our community safe At SP, safety is our highest priority. Staying free of accident and injury is an important part of our culture, for our community, our staff and our contractors. We organise outreach activities and produce educational resources to raise public awareness on gas safety and to prevent accidents arising from gas leaks and fires.

COMMISSIONING OF PHOTOVOLTAIC (PV) SYSTEM (For Licensed Installation) Name of Consumer: ___________________________________________________ Address of Installation: __________________________________________________ ___________________________________________________________________ Electrical Installation Licence No.: ___________________________________________ MSS Account No.: _____________________________ Application No.: _______________________________ Photovoltaic (PV) System Installed Solar PV Capacity: __________ kW(ac) ___________ kW(p) Voltage: ________ I certify that the above-mentioned Photovoltaic (PV) System Installation has been inspected and tested by me in accordance SS 638 and relevant Singapore Regulations. I also declare that the SPPG technical requirements have been complied with and I have performed the Commissioning Test on _______________ (date). I, the undersigned Licenced Electrical Worker (LEW), hereby certify that the abovementioned Photovoltaic System (PV documentation and Original copy of Compliance attached) is now ready and fit to operate in parallel with SP PowerAsset’s network. Name & Signature of LEW for PV System Licence No. Name & Signature of LEW responsible for the operation of the building/complex Electrical Installation Licence No. NB: A copy of the commissioning documents shall be submitted to SPPG within 7 days of PV system commissioning. Please email to: PVDN@spgroup.com.sg Page 1 of 1

Particulars of Electrical Installation FORM CERTIFICATE OF COMPLIANCE Name of Consumer: _______________________________________________________________ Address of Installation: _____________________________________________________________ _____________________________________________________________________________ Electrical Installation Licence No.: ____________________ MSS Account No.: ___________________ Approved load & Supply Voltage: ___________________ kW ___________________ Volts Generator(s) Installed: Operated in parallel with PowerGrid’s network No. of Generator(s): ________ Rating: _________kVA Standby Generator No. of Generator(s): ________ Rating: _________kVA Not Applicable Electrical Installation Design Certification I certify that the design of the above-mentioned electrical installation complies with the requirements of the Electricity (Electrical Installations) Regulations 2002 and the relevant Singapore Standard Code of Practice. With the certification of compliance by the LEW responsible for the installation work as shown below, I hereby request for the energisation of the supply line to the said electrical installation on _________________ (date). ___________ __________ Name & Signature of LEW responsible Licence No. Date for design of electrical installation* Electrical Installation Inspection Certification I have supervised the work of the above-mentioned electrical installation and hereby certify that the electrical installation complies with the requirements of the Electricity (Electrical Installations) Regulations 2002 and the relevant Singapore Standard Code of Practice. I further certify that the technical requirements as stipulated by the person responsible for turning on the switchgear which controls the supply of electricity to the said electrical installation have been complied with. ___________ __________ Name & Signature of LEW responsible Licence No. Date for electrical installation work* *The same LEW may perform both design and installation work for the electrical installation. Copy to: Market Support Services Licensee REF: E(EI)Reg5(2)

Comparison between existing and new Pay-As-You-Use (PAYU) Electricity Meter Meter Type Existing PAYU Meter Credit balance and meter reading is shown on the meter display New PAYU Meter Credit balance and meter reading is shown on the meter display. Users can view the credit balance and electricity consumption via the SP Utilities mobile app, which can be downloaded from the App Store (iPhone users) or Play Store (Android mobile users). Top-up Token A key is required for top-ups A card is required for top-ups Credit Upload Credit top-up needs to be manually uploaded by inserting the key into the PAYU meter Credit top-up will be automatically updated to the PAYU account and meter SMS Alert No SMS alert available SMS alerts will be provided for transactions performed on PAYU account Emergency Credit An emergency credit of $3 is available upon manual activation using the key when credit balance becomes $0. Emergency credit of $5 will be automatically activated when credit balance becomes $0. Supply Disconnection Electricity supply will be automatically disconnected when the emergency credit is used up. Supply Reconnection a. User will need to perform a topup. b. After a top-up is done, user will need to insert the key into the PAYU meter for electricity supply reconnection. a. User will need to perform a topup. b. After a top-up is done, user will receive an SMS alert indicating that the PAYU meter is ready for electricity supply reconnection. c. Thereafter, user will need to press and hold the button (circled in red) on the meter for 5 seconds for electricity supply reconnection. Top-up Locations Any Post Office or SP Group Customer Service Centre Any 7-Eleven store (where most stores operate 24 hours) or SP Group Customer Service Centre

OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Utilities Quick Guide Commercial Getting Started for Your Commercial Utilities Account Determine the Use of your Premises Residential – Domestic Use:                   For premises that are used exclusively for residential purposes. Commercial – Non-Domestic Use:        For premises that are used for the purpose of, or in connection with any trade, business or profession. Note: It is important to declare the use of premises correctly as it is an offence under the Public Utilities Act (Cap. 261) to make any false statement, representation or declaration in connection with the application for water supplied by the Public Utilities Board (PUB).     Choose the Type of Supply required Permanent Supply: Application for any residential, trade, business or professional use. Temporary Supply: Application for the following types of premises.              (a) Construction Site              (b) Street Opera (e.g., Wayang)              (c) Site Office              (d) Gondola Security Deposit & Supply Capacity for Permanent Supply Security Deposit for Temporary Supply Opening Your Commercial Utilities Account Application Channels SP app - iOS and Android SP Group Website Customer Service Centre   Required Documents Under Personal Name  Application form (Completed and signed) Valid identification document Documentary proof of occupancy Security deposit Under Company Name Application form (Completed and signed by director listed in business profile document) Latest ACRA with detailed business profile or Bizfile Documentary proof of occupancy Acknowledgement of Electrical Installation Licence Requirement Form (EIL Form) (for premises with electricity load more than 45kVA) Security deposit Documents required upon request Copy of Director's NRIC/FIN card [Front and Back] Letter of Authorization^ – if signatory is not a Director according to ACRA listing ^Letter with company letterhead indicating its representative's name and identification number Additional Documents for Temporary Supply Quotation for Electricity Supply Connection and LEI issued by EMA Water quotation from PUB When can Supplies be Turned on? Express Turn-On Requirements Same-day express turn-on service is subject to availability and an express service charge fee. Please note that express service is unavailable for premises with: Electricity supply capacity exceeding 45kVA Water meters exceeding 25mm Commercial gas Electricity currently supplied from the Open Electricity Market (OEM) via a licensed electricity retailer or SP Group at the wholesale electricity price   Managing Your Commercial Utilities Account SP app or SP Utilities Portal Sign up for an e-account to manage your utilities account.  An e-account allows you to easily access your utilities account information. You can view and pay your bills, monitor your consumption and perform self-help transactions. Submit Meter Readings Meter readings are taken once every two months. On months where meters are not read, your bill will be estimated based on the average daily usage between your last two actual reads. Your bill will be adjusted when your meters are next read. To avoid bill estimation, we strongly encourage customers to make use of the following services available for submission of meter readings: SP Utilities Portal Submit your reading online via the Utilities Portal and learn tips on how you can better manage your utility consumption. Note: An SP Utilities Portal account is required to use this service. This service is applicable for residential accounts under Personal Name. Please note that if there is more than 1 electricity meter registered to the account, this service is not applicable. SP app Email Email a photo of your meter clearly showing the meter reading and meter number to customerreading@spgroup.com.sg. Important Note: For meter reading submissions due on weekends and public holiday, kindly use the SP Utilities Portal or SP app modes. Paying Your Utilities Bills Pay your utilities bills via the following convenient methods: eGIRO ​Apply online via SP Utilities Portal or SP App Approval is within 48 hours Status of application can be checked via SP Utilities Portal or SP App Other Payment Modes PayNow QR on the SP app and SP Utilities Portal Internet Banking AXS stations 7-Eleven stores (not available for account numbers starting with ‘93’) DBS/POSB/OCBC Automated Teller Machines (ATMs) Note: Pink notices are issued as a reminder when payments are not made by the due date. A fee of $0.55 (inclusive of GST) applies and will be reflected in the next bill. If no payment is received after the reminder, a late payment charge of 1% will be imposed on any outstanding balance in the subsequent bill. Cessation of card payment for non-domestic SP Utilities bills  Kindly note that we will no longer accept credit and debit card payments for non-domestic SP Utilities bills from 1 Nov 2025.  Existing recurring card deductions on the SP app will cease from Nov 2025 bills onwards.  Please apply for eGIRO or pay by other payment modes. Learn more     Closing Your Utilities Account Required Documents Under Personal Name NRIC/FIN (Front and back) Under Company Name Latest ACRA with detailed business profile or Bizfile Documents required upon request Copy of Director's NRIC/FIN card [Front and Back] Letter of Authorisation^ – if signatory is not a Director according to ACRA listing ^To be authorised by the Director listed in the recent ACRA detailed Business Profile/ Bizfile on the letterhead issued by the company, indicating its representative's name and identification number, i.e. NRIC or FIN. Channels available to close your account ​ SP app - iOS and Android SP Group Website Customer Service Centre Things to note after closing your utilities account Refund of Security Deposit The security deposit will be used to offset the final charges. Any credit balance may be transferred to other accounts under your name. If there is any balance, it will be refunded to your GIRO account or mailed to you by cheque between 4 – 6 weeks. GIRO arrangement will automatically be terminated after the final charges have been deducted from your GIRO account. Termination of Gas Supply  For termination of gas supply, City Energy charges a termination fee for commercial premises. Separate gas appliance disconnection fee is chargeable if required. Please refer to www.cityenergy.com.sg for more information.

GETTING STARTED OPENING YOUR UTILITIES ACCOUNT GETTING YOUR UTILITIES SUPPLIES MANAGING YOUR UTILITIES ACCOUNT CLOSING YOUR UTILITIES ACCOUNT 5 Here are steps to guide you through your commercial utilities journey with us. Getting started • Use of premises • Types of supply • Meter(s) requirements • Security deposit and supply capacity/load Opening your utilities account • Where to apply? • Required documents Getting your utilities supplies • Requirements for electrical installation licence (for > 45kVA) • When can supplies be turned on? • Express turn-on requirements Managing your utilities account • Applying for an e-account • Reading your meters • Paying your bills • Understanding the tariff • How to switch electricity supply to a retailer? Closing your utilities account • Required documents • Things to note after closing your utilities account 2 GETTING STARTED GETTING STARTED USE OF PREMISES Residential – Domestic Use For premises that are used exclusively for residential purposes. Commercial – Non-Domestic Use For premises that are used for the purpose of, or in connection with any trade, business or profession. It is important to declare the use of premises correctly as it is an offence under the Public Utilities Act (Cap. 261) to make any false statement, representation or declaration in connection with the application for water supplied by the Public Utilities Board (PUB). 3 GETTING STARTED TYPES OF SUPPLY Permanent Supply Application for any residential, trade, business or professional use. Application for the following type of premises: Construction Site Street Opera (e.g. Wayang) Site Office Gondola Temporary Supply After opening of utilities account: Premises without Electricity Meter Installation, testing and submission of Electrical Installation Licence (EIL) (if applicable) are required before turning on utilities supply. Please refer to Page 9 for more information. Premises without Water Meter PUB will install and turn on water supply within three (3) business days after all plumbing works are completed and relevant documents are submitted. Premises without Gas Meter Please contact City Energy Pte. Ltd. (as Trustee of City Energy Trust) at 1800 555 1661 or visit City Energy Showroom at Plaza Singapura, #03-78 (68 Orchard Road, Singapore 238839) if you require gas supply. 4 SECURITY DEPOSIT + AND Initial Security Deposit required – Permanent Supply Use of Premises Water Electricity Gas HDB Shop Houses Stalls – Cooking Stalls – Non-Cooking Multi-Storey Carpark ATM/Translink/ Info Teller Bin Compound $100 $200 $600 $200 $500 $200 $100 $400 Public Lighting Refer to SP PowerGrid Quotation Others $3.50 per Cu M or $300, whichever is higher Based on Supply Capacity (kVA)* $400 *Please check with your appointed Licensed Electrical Worker (LEW) on the Supply Capacity. Supply Capacity (kVA) Up to 15 16 to 45 46 to 75 76 to 140 141 to 180 181 to 230 231 to 280 281 to 460 461 to 560 561 to 1,000 1,001 and above Security Deposit $450 $1,350 $2,100 $4,050 $5,100 $6,600 $7,950 $13,050 $15,900 $28,500 $57,000 5 Security Deposit (cont'd) Supply Capacity (kW) Security Deposit High Tension & Extra High Tension (Temporary & Permanent Supply) $40 per kW Initial Security Deposit required – Temporary Supply Use of Premises Water Electricity Construction Site $3.50 per Cu M or $300, whichever is higher Based on Supply Capacity Site Office $1,300 Street Opera (e.g. Wayang) $150 per day Gondola $200 + The rates are subjected to review. 6 OPENING YOUR UTILITIES ACCOUNT OPENING YOUR UTILITIES ACCOUNT SP Group Website WHERE TO APPLY? Scan here or visit https://openaccount.spgroup.com.sg/#/open-account/ to open a commercial utilities account. You are required to make payment for your initial security deposit via eNETS or Credit Card during the online application. For payment via eNETS, you will require a valid Internet Banking Personal Account with DBS/POSB/OCBC/Plus, Citibank, or UOB (eNETS Debit), adequate balance and payment limit sufficient for the security deposit deduction. For payment via Visa/Mastercard, please note that it is only applicable for electricity supply of up to 1,001kVA and above and other services such as water and gas. Customer Service Centre Opening hours Mon – Fri : 8.30am to 6.00pm Sat : 8.30am to 1.00pm Closed on Sun & Public Holidays 490 Lor 6 Toa Payoh #09-11 HDB Hub Biz Three Lift Lobby 1 Singapore 310490 7 Required Documents 1 Application Form 2 ID CARD WORK PASS OPENING YOUR UTILITIES ACCOUNT Under Personal Name Application Form (Completed and signed) 3 Tenancy agreement Documentary proof of occupancy (e.g. Tenancy agreement or property tax) NRIC/FIN (Front and Back) [For Foreign Delegates, please provide copy of Green Card/Employment Pass/ copy of Exemption Order] 4 SPECIMEN Initial security deposit is payable upon application 1 Application Form 2 Application Form (Completed and signed) Latest ACRA detailed Business Profile/Bizfile 3 Tenancy agreement 4 Under Company Name Documentary proof of occupancy (e.g. Tenancy agreement or property tax) Copy of Acknowledgement of Electrical Installation Licence Requirement Form (EIL Form) (for > 45kVA) 5 SPECIMEN Initial security deposit is payable upon application Required upon request • Copy of Director's NRIC/FIN card [Front and Back] • Letter of Authorisation + – if signatory is not a Director according to ACRA listing + To be authorised by the Director listed in the recent ACRA detailed Business Profile/ Bizfile on the letterhead issued by the company, indicating its representative's name and identification number, i.e. NRIC or FIN. Additional Documents for Temporary Supply 1 2 Quotation for Electricity Supply Connection and EIL issued by EMA Water quotation from PUB 8 GETTING YOUR UTILITIES SUPPLIES REQUIREMENTS FOR ELECTRICAL Upon account opening, you are required to obtain an Electrical Installation Licence (EIL) when you use or operate an electrical installation of approved load exceeding 45kVA for commercial purposes. GETTING YOUR UTILITIES SUPPLIES HOW DO I APPLY FOR AN ELECTRICAL You are required to appoint a Licensed Electrical Worker (LEW) of the appropriate class to take charge of the electrical installation and submit the application for an EIL. Scan for more details 9 ELECTRICITY WHEN CAN SUPPLIES BE TURNED ON? Premises Type (Permanent Supply with meter(s) on site) Supply Turn-On Premises with electricity supply <45kVA Premises with electricity supply >45kVA 2 business days 3 business days upon submission of EIL GETTING YOUR UTILITIES SUPPLIES Same-day express turn-on service is subject to availability and with at least three hours advance notice. An express service charge is applicable for working weekdays/Saturdays. Please note that express service is unavailable for premises with: Electricity supply capacity exceeding 45kVA Water meters exceeding 25mm Commercial Gas MARKET Electricity currently supplied from the Open Electricity Market (OEM) via a licensed electricity retailer or SP Group at the wholesale electricity price 10 MANAGING YOUR UTILITIES ACCOUNT Please apply for an e-account to manage your utilities account via SP Utilities Portal. Scan here to apply Print the completed online application form, and endorse with your signature and company stamp. Submit the form to https://services.spservices.sg/#/uploadEServices Your application will be reviewed and once it is approved, the login details will be sent to the email address indicated in your online application. Get the SP App to manage your bill with greater convenience READING YOUR METERS Meter readings are taken once every two months. On months where meters are not read, your bill will be estimated based on the average daily usage between your last two actual reads. Your bill will be adjusted when your meters are next read. To avoid bill estimation, we strongly encourage customers to make use of the following e-services available for submission of meter readings: MANAGING YOUR UTILITIES ACCOUNT • SP Utilities Portal via spgrp.sg/UPortal • SP App • Email to customerreading@spgroup.com.sg Scan here to understand your utilities bill 11 PAYING YOUR BILLS GIRO How to Apply? • Through AXS machines for DBS & POSB ATM cardholders • Internet banking for DBS, POSB and OCBC cardholders • Mail the completed GIRO application form to: 2 Kallang Sector, Singapore 349277, Attention: Revenue Collection Approval may take up to six weeks. You will be notified of the status of your GIRO application via your utilities bill. Other Payment Modes Payment by credit cards via the SP App DBS/UOB/OCBC Internet banking DBS/POSB/ OCBC ATMs 7-Eleven stores SP Group Customer Service Centre AXS stations MANAGING YOUR UTILITIES ACCOUNT Note: Pink notices are issued as a reminder when payments are not made by the due date. A fee of $0.54 (inclusive of GST) applies and will be reflected in the next bill. If no payment is received after the reminder, a late payment charge of 1% will be imposed on any outstanding balance in the subsequent bill. UNDERSTANDING THE TARIFF HOW TO SWITCH ELECTRICITY SUPPLY TO RETAILER? For more information on tariffs, scan here For more information on Open Electricity Market, scan here 12 CLOSING YOUR UTILITIES ACCOUNT Required Documents Under Personal Name 1 Termination Form Termination of Utilities Supply Form (Completed and signed) 2 ID CARD WORK PASS NRIC/FIN (Front and Back) 1 Termination 2 Form Under Company Name Termination of Utilities Supply Form (Completed and signed) Required upon request Latest ACRA detailed Business Profile/Bizfile • Copy of Director's NRIC/FIN card [Front and Back] • Letter of Authorisation* – if signatory is not a Director according to ACRA listing *To be authorised by the Director listed in the recent ACRA detailed Business Profile/Bizfile on the letterhead issued by the company, indicating its representative's name and identification number, i.e. NRIC or FIN. In person: Please bring along the required documents during your visit to our Customer Service Centre Termination of Utilities Supply Forms are available at our service counters. 13 CLOSING YOUR UTILITIES ACCOUNT THINGS TO NOTE AFTER CLOSING YOUR UTILITIES ACCOUNT Termination of Gas Supply For termination of gas supply, City Energy charges a termination fee for commercial premises. Separate gas appliance disconnection fee is chargeable if required. Please refer to www.cityenergy.com.sg for more information. Refund of Security Deposit Upon closure of utilities account, the security deposit will be used to offset the final charges. Any credit balance left in your account may be transferred to other accounts under your name, if there are any outstanding charges before the final balance is refunded to you. You should receive your final bill and refund (if any) within a month. You may indicate the following in the termination form for credit balance (if any) to be: 1 2 3 GIRO DONATE Refunded via cheque Refunded to your active Giro linked to the utilities account Donated to SP Heartware Fund 4 5 Refunded to your SGD Bank account (Please provide a copy of your bank statement for verification purposes) Transferred to another active utilities account CLOSING YOUR UTILITIES ACCOUNT GIRO For utilities account under GIRO, the GIRO arrangement will be terminated after we have deducted the final charges. 14 READY TO START YOUR UTILITIES JOURNEY WITH US? Utilities Account Opening Checklist Use of premises: Types of supply: Security deposit $ Supply capacity Domestic Permanent kVA Non-Domestic Temporary Meter(s) requirements: Need to engage Licensed Electrical Worker Need to engage Licensed Plumber Need to contact City Energy Pte. Ltd. (as Trustee of City Energy Trust) Required documents (Refer to Page 8) Notes: Download forms here 15 490 Lor 6 Toa Payoh #09-11 HDB Hub Biz Three Lift Lobby 1 Singapore 310490 1800 222 2333 www.spgroup.com.sg

GETTING STARTED OPENING YOUR UTILITIES ACCOUNT GETTING YOUR UTILITIES SUPPLIES MANAGING YOUR UTILITIES ACCOUNT CLOSING YOUR UTILITIES ACCOUNT 5 Here are steps to guide you through your commercial utilities journey with us. Getting started • Use of premises • Types of supply • Meter(s) requirements • Security deposit and supply capacity/load Opening your utilities account • Where to apply? • Required documents Getting your utilities supplies • Requirements for electrical installation licence (for > 45kVA) • When can supplies be turned on? • Express turn-on requirements Managing your utilities account • Applying for an e-account • Reading your meters • Paying your bills • Understanding the tariff • How to switch electricity supply to a retailer? Closing your utilities account • Required documents • Things to note after closing your utilities account 2 GETTING STARTED GETTING STARTED USE OF PREMISES Residential – Domestic Use For premises that are used exclusively for residential purposes. Commercial – Non-Domestic Use For premises that are used for the purpose of, or in connection with any trade, business or profession. It is important to declare the use of premises correctly as it is an offence under the Public Utilities Act (Cap. 261) to make any false statement, representation or declaration in connection with the application for water supplied by the Public Utilities Board (PUB). 3 GETTING STARTED TYPES OF SUPPLY Permanent Supply Application for any residential, trade, business or professional use. Application for the following type of premises: Construction Site Street Opera (e.g. Wayang) Site Office Gondola Temporary Supply After opening of utilities account: Premises without Electricity Meter Installation, testing and submission of Electrical Installation Licence (EIL) (if applicable) are required before turning on utilities supply. Please refer to Page 9 for more information. Premises without Water Meter PUB will install and turn on water supply within three (3) business days after all plumbing works are completed and relevant documents are submitted. Premises without Gas Meter Please contact City Energy Pte. Ltd. (as Trustee of City Energy Trust) at 1800 555 1661 or visit City Energy Showroom at Plaza Singapura, #03-78 (68 Orchard Road, Singapore 238839) if you require gas supply. 4 SECURITY DEPOSIT + AND Initial Security Deposit required – Permanent Supply Use of Premises Water Electricity Gas HDB Shop Houses Stalls – Cooking Stalls – Non-Cooking Multi-Storey Carpark ATM/Translink/ Info Teller Bin Compound $100 $200 $600 $200 $500 $200 $100 $400 Public Lighting Refer to SP PowerGrid Quotation Others $3.50 per Cu M or $300, whichever is higher Based on Supply Capacity (kVA)* $400 *Please check with your appointed Licensed Electrical Worker (LEW) on the Supply Capacity. Supply Capacity (kVA) Up to 15 16 to 45 46 to 75 76 to 140 141 to 180 181 to 230 231 to 280 281 to 460 461 to 560 561 to 1,000 1,001 and above Security Deposit $450 $1,350 $2,100 $4,050 $5,100 $6,600 $7,950 $13,050 $15,900 $28,500 $57,000 5 Security Deposit (cont'd) Supply Capacity (kW) Security Deposit High Tension & Extra High Tension (Temporary & Permanent Supply) $40 per kW Initial Security Deposit required – Temporary Supply Use of Premises Water Electricity Construction Site $3.50 per Cu M or $300, whichever is higher Based on Supply Capacity Site Office $1,300 Street Opera (e.g. Wayang) $150 per day Gondola $200 + The rates are subjected to review. 6 OPENING YOUR UTILITIES ACCOUNT OPENING YOUR UTILITIES ACCOUNT SP Group Website WHERE TO APPLY? Scan here or visit https://openaccount.spgroup.com.sg/#/open-account/ to open a commercial utilities account. You are required to make payment for your initial security deposit via eNETS or Credit Card during the online application. For payment via eNETS, you will require a valid Internet Banking Personal Account with DBS/POSB/OCBC/Plus, Citibank, or UOB (eNETS Debit), adequate balance and payment limit sufficient for the security deposit deduction. For payment via Visa/Mastercard, please note that it is only applicable for electricity supply of up to 1,001kVA and above and other services such as water and gas. Customer Service Centre Opening hours Mon – Fri : 8.30am to 6.00pm Sat : 8.30am to 1.00pm Closed on Sun & Public Holidays 490 Lor 6 Toa Payoh #09-11 HDB Hub Biz Three Lift Lobby 1 Singapore 310490 7 Required Documents 1 Application Form 2 ID CARD WORK PASS OPENING YOUR UTILITIES ACCOUNT Under Personal Name Application Form (Completed and signed) 3 Tenancy agreement Documentary proof of occupancy (e.g. Tenancy agreement or property tax) NRIC/FIN (Front and Back) [For Foreign Delegates, please provide copy of Green Card/Employment Pass/ copy of Exemption Order] 4 SPECIMEN Initial security deposit is payable upon application 1 Application Form 2 Application Form (Completed and signed) Latest ACRA detailed Business Profile/Bizfile 3 Tenancy agreement 4 Under Company Name Documentary proof of occupancy (e.g. Tenancy agreement or property tax) Copy of Acknowledgement of Electrical Installation Licence Requirement Form (EIL Form) (for > 45kVA) 5 SPECIMEN Initial security deposit is payable upon application Required upon request • Copy of Director's NRIC/FIN card [Front and Back] • Letter of Authorisation + – if signatory is not a Director according to ACRA listing + To be authorised by the Director listed in the recent ACRA detailed Business Profile/ Bizfile on the letterhead issued by the company, indicating its representative's name and identification number, i.e. NRIC or FIN. Additional Documents for Temporary Supply 1 2 Quotation for Electricity Supply Connection and EIL issued by EMA Water quotation from PUB 8 GETTING YOUR UTILITIES SUPPLIES REQUIREMENTS FOR ELECTRICAL Upon account opening, you are required to obtain an Electrical Installation Licence (EIL) when you use or operate an electrical installation of approved load exceeding 45kVA for commercial purposes. GETTING YOUR UTILITIES SUPPLIES HOW DO I APPLY FOR AN ELECTRICAL You are required to appoint a Licensed Electrical Worker (LEW) of the appropriate class to take charge of the electrical installation and submit the application for an EIL. Scan for more details 9 ELECTRICITY WHEN CAN SUPPLIES BE TURNED ON? Premises Type (Permanent Supply with meter(s) on site) Supply Turn-On Premises with electricity supply <45kVA Premises with electricity supply >45kVA 2 business days 3 business days upon submission of EIL GETTING YOUR UTILITIES SUPPLIES Same-day express turn-on service is subject to availability and with at least three hours advance notice. An express service charge is applicable for working weekdays/Saturdays. Please note that express service is unavailable for premises with: Electricity supply capacity exceeding 45kVA Water meters exceeding 25mm Commercial Gas MARKET Electricity currently supplied from the Open Electricity Market (OEM) via a licensed electricity retailer or SP Group at the wholesale electricity price 10 MANAGING YOUR UTILITIES ACCOUNT Please apply for an e-account to manage your utilities account via SP Utilities Portal. Scan here to apply Print the completed online application form, and endorse with your signature and company stamp. Submit the form to https://services.spservices.sg/#/uploadEServices Your application will be reviewed and once it is approved, the login details will be sent to the email address indicated in your online application. Get the SP App to manage your bill with greater convenience READING YOUR METERS Meter readings are taken once every two months. On months where meters are not read, your bill will be estimated based on the average daily usage between your last two actual reads. Your bill will be adjusted when your meters are next read. To avoid bill estimation, we strongly encourage customers to make use of the following e-services available for submission of meter readings: MANAGING YOUR UTILITIES ACCOUNT • SP Utilities Portal via spgrp.sg/UPortal • SP App • Email to customerreading@spgroup.com.sg Scan here to understand your utilities bill 11 PAYING YOUR BILLS eGIRO How to Apply? • Through SP Utilities Portal or SP app • Internet banking for DBS, POSB and OCBC cardholders Approval may take up to 48 hours. You may check the status of your eGIRO application via the SP Utilities Portal or SP app. Other Payment Modes Payment by credit cards via the SP App DBS/UOB/OCBC Internet banking DBS/POSB/ OCBC ATMs 7-Eleven stores SP Group Customer Service Centre AXS stations MANAGING YOUR UTILITIES ACCOUNT Note: Pink notices are issued as a reminder when payments are not made by the due date. A fee of $0.55 (inclusive of GST) applies and will be reflected in the next bill. If no payment is received after the reminder, a late payment charge of 1% will be imposed on any outstanding balance in the subsequent bill. UNDERSTANDING THE TARIFF HOW TO SWITCH ELECTRICITY SUPPLY TO RETAILER? For more information on tariffs, scan here For more information on Open Electricity Market, scan here 12 CLOSING YOUR UTILITIES ACCOUNT Required Documents Under Personal Name 1 Termination Form Termination of Utilities Supply Form (Completed and signed) 2 ID CARD WORK PASS NRIC/FIN (Front and Back) 1 Termination 2 Form Under Company Name Termination of Utilities Supply Form (Completed and signed) Required upon request Latest ACRA detailed Business Profile/Bizfile • Copy of Director's NRIC/FIN card [Front and Back] • Letter of Authorisation* – if signatory is not a Director according to ACRA listing *To be authorised by the Director listed in the recent ACRA detailed Business Profile/Bizfile on the letterhead issued by the company, indicating its representative's name and identification number, i.e. NRIC or FIN. In person: Please bring along the required documents during your visit to our Customer Service Centre Termination of Utilities Supply Forms are available at our service counters. 13 CLOSING YOUR UTILITIES ACCOUNT THINGS TO NOTE AFTER CLOSING YOUR UTILITIES ACCOUNT Termination of Gas Supply For termination of gas supply, City Energy charges a termination fee for commercial premises. Separate gas appliance disconnection fee is chargeable if required. Please refer to www.cityenergy.com.sg for more information. Refund of Security Deposit Upon closure of utilities account, the security deposit will be used to offset the final charges. Any credit balance left in your account may be transferred to other accounts under your name, if there are any outstanding charges before the final balance is refunded to you. You should receive your final bill and refund (if any) within a month. You may indicate the following in the termination form for credit balance (if any) to be: 1 2 3 GIRO DONATE Refunded via cheque Refunded to your active Giro linked to the utilities account Donated to SP Heartware Fund 4 5 Refunded to your SGD Bank account (Please provide a copy of your bank statement for verification purposes) Transferred to another active utilities account CLOSING YOUR UTILITIES ACCOUNT GIRO For utilities account under GIRO, the GIRO arrangement will be terminated after we have deducted the final charges. 14 READY TO START YOUR UTILITIES JOURNEY WITH US? Utilities Account Opening Checklist Use of premises: Types of supply: Security deposit $ Supply capacity Domestic Permanent kVA Non-Domestic Temporary Meter(s) requirements: Need to engage Licensed Electrical Worker Need to engage Licensed Plumber Need to contact City Energy Pte. Ltd. (as Trustee of City Energy Trust) Required documents (Refer to Page 8) Notes: Download forms here 15 490 Lor 6 Toa Payoh #09-11 HDB Hub Biz Three Lift Lobby 1 Singapore 310490 1800 222 2333 www.spgroup.com.sg

Media Release SP Group recognised with three Community Chest Awards SP scaled up giving, expanded programmes to benefit seniors, children and youth SP Group CEO Mr Stanley Huang received the Charity Platinum Award from President Halimah Yacob. Singapore, 1 November 2022 – At the Community Chest Awards 2022, SP Group (SP) was recognised with three awards for its sustained philanthropy, strong volunteerism culture and community engagement. Group Chief Executive Officer Stanley Huang received SP’s Charity Platinum Award, Enabler Award, and Volunteer Partner Award at the event presided by President Halimah Yacob on 1 November 2022 at the Istana. Working closely with Community Chest has enabled SP to effectively identify needs, collaborate with social service agencies and create sustained impact to help vulnerable groups. Mr Huang said, “SP is honoured to receive this recognition from Community Chest. Despite the challenges brought on by the pandemic, we scaled up our efforts to fulfil long-standing commitments and set up new programmes to benefit a wider range of social service users, from seniors, to children and youth.” Mr Huang paid tribute to SP’s staff, business associates and the public for enabling its programmes to grow from strength to strength over the years. Last year, SP’s contributions totalled S$4.5 million in donations, sponsorships and volunteer manpower. These include maintaining support for 21,000 seniors through the SP Heartware Fund, which has raised more than S$18 million since it was established in 2005. In addition, SP also committed S$1.1 million this year to see through a five-fold increase in its annual Power Packs initiative, enabling 10,000 lower-income families to receive daily essential items. In widening the scope of its programmes across the age spectrum, SP launched SP Kids at Heart, donating S$2.1 million over the past two years to support 5,000 children under KidSTART with learning tools, including digital devices for home-based learning and early literacy development. SP also extended its reach to youth from vulnerable backgrounds by launching the inaugural SP Group Engineering Study Awards this year with a contribution of S$1.35 million to the Institute of Technical Education (ITE). This will benefit 450 ITE students from lower-income families over the next three years. Through this study award, SP aims to aid aspiring engineers in securing better academic and employment opportunities. In amplifying fundraising efforts for the SP Heartware Fund, SP enables its customers and business associates to donate to Community Chest through the SP app and donation appeals in its utilities bills. SP also matches dollar-for-dollar donations made by its staff to the Fund, and underwrites all fund-raising and operational costs of the Fund and its programmes, so that all donations will go fully to the social service organisations. Staff volunteers, known as SP Heart Workers, organise outreach activities for social service users throughout the year. These include befriending activities at Senior Activity Centres, helping seniors with their grocery runs, conducting digital clinics and more. At the height of the pandemic, SP Heart Workers also partnered FairPrice to bring a mobile supermarket to the doorstep of seniors. SP’s staff have also been part of national-level efforts to provide pandemic relief to the public, including the manning of hotlines for Temasek Foundation’s Stay Prepared programme and Ministry of Health’s home recovery scheme. Mr Huang explained, “Over the years, we have developed a strong culture of volunteerism amongst our team members. This shared purpose of pursuing a common good unifies our people, fosters team-building and cultivates the spirit of giving.” SP Group has received the Charity Platinum Award and Volunteer Partner awards in past editions of the Community Chest Awards, held annually to honour organisations and individuals in Singapore who have made outstanding contributions to the social service sector to care for the less fortunate in the community. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. 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 renewable and sustainable energy solutions including solar energy solutions, microgrids, 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, and LinkedIn at spgrp.sg/linkedin. Editors’ Notes 1. Please use the following photo captions. 2. Photos are to be attributed to "SP Group". SP Group sustained support for seniors through its flagship corporate philanthropy programme – SP Heartware Fund. This includes scaling up the Power Packs initiative to $1.1 million this year. SP Heart Workers packed and delivered Power Packs of essential items to 10,000 lower-income households this year – a fivefold increase through SP’s S$1.1 million commitment. SP staff volunteers, known as SP Heart Workers, organise outreach activities for social service users throughout the year, including outings with seniors. During the pandemic, SP Heart Workers partnered FairPrice to bring grocery shopping to the doorstep of senior. SP Kids at Heart, launched in 2021, renewed its commitment to KidSTART Singapore with a S$1.1 million donation for 2022. In 2021, SP donated $1 million to KidSTART. (Photo Credit: KidSTART Singapore) The key initiatives supported by SP Kids at Heart in 2022 includes KidSTART Sea Adventures (top) and KidSTART Stories (bottom). (Photo Credit: KidSTART Singapore) Expanding its scope to vulnerable youths, SP Group set up its inaugural study awards with a S$1.35 million contribution to benefit 450 ITE engineering school students over the next three years, helping to alleviate financial concerns brought on by the pandemic.