44 YINSON HOLDINGS BERHAD VALUE CREATION AT YINSON The global electric freight transport market is projected to reach approximately USD 566 billion by 2032, driven by maturing technologies and scaled infrastructure. In parallel, the digital logistics market – encompassing AI, Internet of Things (IoT) and real-time visibility platforms – is expected to exceed USD 77 billion by 2030. These trends mark a clear shift toward integrated, tech-enabled mobility solutions as an imperative to ensure competitiveness and sustainability. The commercial deployment of autonomous electric trucks, last-mile delivery robots and smart logistics infrastructure is accelerating across Asia, Europe and North America, enhancing operational economics and enabling new service models that redefine how freight and goods are moved. In Malaysia, smart mobility efforts under the MyDIGITAL strategy; and Singapore’s advancements in autonomous vehicle testing and AI-powered traffic systems, position both countries as leaders in Southeast Asia’s transition to intelligent mobility. The increasing number of EVs on the road and supportive government policies are driving the rapid development of efficient charging infrastructure, which is projected to grow at a CAGR of 36.4% from 2023 and 2030. In Malaysia, the government has set an ambitious target to install 10,000 public EV charging stations by 2025. In Singapore, the Land Transport Authority (“LTA”) aims to deploy 60,000 EV charging points across the island by 2030, with 40,000 in public car parks and 20,000 in private premises. In both countries, significant strides have already been made toward achieving these targets. While home charging remains the most widely used charging method, the development of public infrastructure is crucial to drive adoption, particularly in urban areas. Electrification and autonomy are also reshaping maritime mobility. In April 2025, the International Maritime Organisation (IMO) approved the IMO Net-zero Framework, the first such framework in the world to combine mandatory emissions limits and GHG pricing across an entire industry sector. The announcement is the latest in a series of developments that have been spurring growth in the global market for electric ships, which is projected to grow at a CAGR of 10.5%, from USD 8.6 billion in 2024 to USD 15.7 billion by 2030. In line with this growth is the urgent need for the development of marine megawatt DC fast charging solutions, which are important to support electric vessels to operate more effectively and reduce turnaround times in ports. Singapore is poised to lead the way in marine electrification. In early 2025, the Maritime and Port Authority of Singapore (“MPA”) introduced the Technical Reference (TR) 136 which sets standardised technical and safety requirements for electric harbour craft charging – a critical step that validates marine electrification efforts and paves the way for widespread adoption. These developments align with Yinson GreenTech’s efforts in the electrification of marine and land transport logistics, alongside the advancement of digital and charging infrastructure, with Malaysia and Singapore being key countries of focus. The green technologies market is seeing greater adoption and increasing investments, especially in the areas of electrification, digitalisation and automation. A key indicator of this trend is the EV market, which was valued at USD 895 billion in 2025, and projected to grow at a CAGR of 32.7% from 2024 to 2034. In fact, Asia Pacific led the global EV market in 2024, accounting for 50% of total market share. Regionally, the ASEAN EV market is growing rapidly, with value expected to rise from USD 6.94 billion in 2024 to USD 17.19 billion by 2032, at a CAGR of 12%. In Malaysia, EVs recorded a strong 63.8% YoY growth, largely spurred by tax incentives and the influx of new models in the market, especially from China. Meanwhile, in Singapore, EVs made up 33.6% of total car registrations in 2024, up from 18.1% in 2023. The Singapore government also recently announced substantial incentives to promote electric heavy vehicles starting in 2026. The incentives apply to both vehicles and their charging infrastructure. Conference of the Parties (COP) targets. Political upheaval and policy changes have also directly impacted the pace of renewable energy growth in some geographies. Yet, the global picture remains the same – strong momentum driving growth in renewables deployment and investment reaching all-time highs. There are practical challenges to increasing new electricity generation capacity – affecting both renewable and fossil generation. These range from grid capacity constraints, ageing grid infrastructure and in some cases, poorly functioning market mechanisms. We aim to manage these risks through careful market selection, project screening and good local development partnerships. Yinson Renewables activities are focused in Latin America, Asia Pacific and Europe, which has allowed us to build a balanced portfolio. Within these regions, countries have been selected where we believe the policies, market conditions and growth prospects enable a path to achieving a commercially attractive and stable generation portfolio. YINSON GREENTECH EV charging infrastructure market (USD billion) 14.81 130.33 2023 2030 Projected CAGR 10.5% Electric ships market (USD billion) 8.6 15.7 2023 2030 Projected CAGR 36.4% Source: 360iResearch. Source: Global Industry Analysts, Inc.
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