80 YINSON HOLDINGS BERHAD In Malaysia, the availability of charging infrastructure has expanded but remains unevenly distributed with several states, particularly those outside major population centres, still underserved. The government remains committed to accelerating nationwide electrification through the National Energy Transition Roadmap, which positions EV uptake as a key pillar in the country’s shift to a low-carbon economy, alongside initiatives to streamline approvals and improve deployment processes. Meanwhile, Singapore continues to demonstrate strong rollout momentum toward its long-term target of 60,000 charging points by 2030, having already achieved over half of the goal by early 2026. EV registrations (units) EV share of registrations (%) EV share of new car registrations 2023 2023 2024 2024 2025 2025 Malaysia 13,301 5,468 14,448 23,684 Singapore 45.0% 5.1% 33.6% 2.5% 18.1% 1.6% Global momentum towards maritime decarbonisation continues to accelerate, underpinned by the International Maritime Organization’s Strategy on the Reduction of GHG Emissions from Ships. The strategy sets a clear long-term direction for the sector, including targets to reduce carbon intensity and absolute emissions, reinforcing the need for early adoption of low and zero-emission solutions, particularly for shortsea and harbour craft operations. Within this global regulatory context, Singapore is accelerating its marine electrification agenda ahead of its 2030 requirement that all new harbour craft be fully electric, capable of operating on B100 biofuel, or compatible with net zero fuels. The Maritime and Port Authority of Singapore has demonstrated strong industry mobilisation through its electric harbour craft call for proposals launched in 2023, which attracted 55 submissions, with 11 designs shortlisted in 2024 for further development. To support early deployment, Singapore launched its first dedicated maritime decarbonisation hub as a one-year proof of concept on 1 November 2025. Located to improve access to the eastern anchorages, the hub enables operational testing and scaling of electric harbour craft and associated infrastructure. Malaysia’s electric maritime sector remains at an early stage of development, with growing interest in high-frequency ferry routes, where shorter distances and predictable operating profiles are well suited for electrification. Broader regional momentum towards hybrid and electric shortsea vessels is expected to support this transition over time. Against this backdrop, Yinson GreenTech is well positioned to support and benefit from the regional transition towards cleaner mobility ecosystems through its integrated solutions spanning electric mobility, charging infrastructure and marine electrification. We discuss the global market landscape surrounding the transport electrification industry, including an analysis of the risks, opportunities and Yinson GreenTech’s response, in the ‘Market landscape’ section. Market landscape, Yinson GreenTech, pg 65 BUSINESS REVIEWS Source: Land Transport Authority. EV charging bays by state Selangor 1,325 547 52 15 Putrajaya 302 299 Johor 37 57 Kedah 3 26 Kelantan 79 94 Pahang 9 45 Terengganu 81 111 Perak 0 2 Perlis 370 237 Pulau Pinang 57 45 Melaka 51 25 Negeri Sembilan 1,203 288 Kuala Lumpur Charging infrastructure concentrated in urban areas 14 EVs per charging gun AC chargers DC chargers Source: Suruhanjaya Tenaga based on November 2025 data. 21,789 44,813
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