Being able to navigate on going maritime ecosystem
inefficiencies and challenges is no longer sufficient. It is time to scale the
digital transformation (DX) muscles and strategically optimize your vessel
operations. What new technologies can you embrace to strengthen your supply chain, operate vessels more efficiently,
reliably, and lessen the carbon footprint impact?

Smart Ship© Hub Remote, the digital platform offers real-time condition monitoring and analysis
of machinery, vessel performance while enabling predictive diagnostics and maintenance.

Aside from capturing high-frequency data, we leverage legacy machine
data, noon reports, maker manuals, and information collected from ship trials
for integrated analytics. Our proprietary machine learning algorithms are
trained to gain insight and provide business intelligence on vessel
performance, fuel consumption, main engine health, and the overall condition of
the vessel.&nbsp; 

Smart Ship© Hub Remote leverages the power of Industrial IOT for to
help ship owners, &nbsp;operators, charterers
detect potential issues before it arises, empowering them to make data-driven intelligent
decisions and proactive adjustments. That positively impacts business KPIs,
reducing unplanned vessel downtime, increasing operational efficiency, and
propelling the ship towards global sustainability goals.

<a></a>Remote monitoring to protect
you from existing risks

<a></a>Advanced analytics for freedom
from future risks

Maritime trade is a high-stakes business
where shipowners, operators, charterers
shoulder crucial responsibilities. Smart Ship© Hub (SSH) understands the
complexities of the marine environment and the variety of problems they have to
deal with. On board equipment and machinery are more prone to breakdowns,
malfunctions, and unexpected repairs. Vessels are under constant motion
rendering its equipment to have continuous wear and tear. A break down ( or in
other words Downtime) takes top dollar to ensure the vessel is once again seaworthy
. Time elapsed between the downtime and it being back in operational condition
is directly related to premium paid for maintenance .

Mechanical or structural flaws can cause
serious mishaps and have often resulted in casualties during routine ship
operations. Machinery failure
accounted for one in three reported shipping casualties or incidents globally,
as per the Allianz Safety and Shipping Review 2022. Statistics do not lie!

Marine power systems failure or vessel
engine damage can not only put all assets, cargo, the crew on board the vessel in danger but also poses a threat to
marine ecology. And if the vessel is a chemical tanker , crude oil carrier or
dry bulk that is combustible: the risks and accountabilities are significant. Vessel
damage or vessel downtime translates to significant
financial losses in business. There's constant pressure to prevent incidents at sea and reduce vessel
downtime, along with the challenge of seeing maintenance costs remain in
check.

Smart Ship ©Hub (SSH) endeavors to help
alleviate the problems and manage the risks that maritime trade ship owners and
operators face. With our digital platform in play, vessels are highly reliable
and the reliability ranges between 20% to 33% , one in three downtime scenarios
have are being constantly successfully predicted and averted. 

Planned maintenance is essential for
reducing the frequency of equipment or machinery failures and avoiding
breakdowns that may lead to disruptions in vessel operations. However,
continuing to sail within the comfort zone—relying solely on traditional ship
maintenance methods—will leave ship owners and operators vulnerable to
unexpected breakdowns and costly downtime. 

It thus becomes
"mission-critical" to get Smart and explore a newer, more economical, and effective maintenance approach.

<a></a>Reliable
and cost-effective technologies with multilevel impact—even from REMOTE
locations in real-time.

<a></a>Smart Ship Hub’s “ All in One”
Feature

Vessel Condition monitoring is the process
of continuously observing a set of voyage metrics and/or shipping process
variables that indicate the state of the vessel being monitored. Smart Ship© Hub
Remote IOT Services facilitates this even from the farthest offshore location.
Remote vessel condition monitoring is critical to sustainable shipping
operations and machine health maintenance and management.

Smart Ship© Hub Remote’s digital services
present a real-time monitoring data-driven predictive maintenance solution for
the shipping industry, powered by dynamic machine learning (ML) algorithms and
artificial intelligence (AI). 

Smart Ship© Hub (SSH) digital platform
uses high-frequency data and proprietary algorithms to create a Vessel Health
Index, providing real-time insights into machinery health and equipment
condition. A very unique offering where the vessel’s health is quantified in
terms of its machinery fitness and vessel’s over all sea worthiness. Augmenting
your planned maintenance systems with Smart Ship© Hub Remote will support you
in proactively addressing potential issues and avoiding costly downtime. Remote
monitoring and Live communication of vessel and machine health data enable
predictive maintenance and effective management of shipping operations. 

Maritime digitalization technologies are
now a prerequisite, a cost-competitive investment that will serve you well in
the long term.

<a></a>“An organization with a ‘safety
culture’ is one that gives appropriate priority
to safety and realizes that safety has to be managed like other areas of the
business.”

<a></a>– International Maritime Organisation

It is crucial to conduct timely maintenance activities for the vessel's
structural integrity and stability to remain in compliance with safety
standards&nbsp; and environmental
regulations.&nbsp; 

Remote management of Vessels through collection of fleet-wide data across vessels coming from the
engine and onboard equipment, end-to-end analytics, and reporting have a
combined positive impact, redefining the Vessel
Health &amp; Condition Monitoring process.

Smart Ship© Hub
Remote’s&nbsp; SMART ALERT for various failure
modes provides advance warning on possible downtime. The ALERT engine is configured
to generate alarms when actual and potential errors or failure is detected. The
other purpose of the alarm is to prioritize the failures based on how serious
the consequences could be and how frequently they occur. It also generated
Failure Mode Effect Analysis along with in-depth knowledge on risks of failures
that could inform timely actions and support continuous improvement.

Relevant drawings,
videos, images of equipment, safety procedures, inspections, and work orders
are linked to these alarms. The generated alarms and notifications can be made
available on devices like iPads aside from Desktops. The SMART ALERT tool is
most useful for planning optimal downtime schedules in advance, well before the
failure occurs. 

Predictive
Analytics enables maritime trade shipowners and operators to avoid costly
unplanned downtime and increase asset reliability from a remote environment.
Graphical chart-based and tabular insights based on historical as well as Live
shipping data are available as a customized service to accurately measure
critical vessel parameters. 

Our validated and
globally trusted ML-based advanced integrated analytics detect and deliver
early warnings on vessel condition, engine health, and other asset
anomalies—sometimes weeks or months before the failure occurs. The predictive
algorithms can forecast the exact time of failure, allowing maintenance
priorities to be specified. 

Predictive
Analytics provides the necessary information to trigger Alerts and assists
engineers in determining the next maintenance cycle for machinery or equipment
in service to prevent unanticipated problems during the voyage and wastage of
resources. 

With substantial
cost savings as one of the key outcomes, maritime trade organizations are
deploying Smart Ship© Hub Remote for Predictive Maintenance that ensures lower
vessel downtime.

The SMART ALERT tool
triggers our proprietary machine learning (ML) algorithms that gets trained to
deliver vessel health diagnostics by utilizing live data generated together
with historical data, past FMEA’s, Legacy onboard data and other pertinent process
data captured through our Data Quality Management (DQM) feature. The
data-driven machine learning-based wear fault diagnostic model is built to
support engineers in determining the cause of fault modes correctly. 

The diagnostics
algorithms identify the root cause and provide clear actionable insights and
recommendations for making informed decisions. The ML algorithms thus help
avoid failures, especially those earmarked as a high priority by the automated
Technical Advisory Reports for crew and shore staff. 

Smart Ship© Hub
Remote IOT Services can be relied upon for data-backed guidance on corrective
measures, leading to substantial savings in spares, maintenance costs, labor,
and lost business opportunities.

●&nbsp;&nbsp;&nbsp;&nbsp; Continuous Tracking &amp;
Situational Awareness

Smart Ship© Hub
Remote is a 24/7 AI/ML-powered intelligent system that facilitates remote
tracking of ships during voyages to and from the port.. The entire fleet of
ships may also be continuously monitored from an onshore remote center and
controlled by an automatic system. Smart Ship© Hub Remote IOT Services
facilitate the seamless communication of real-time voyage data informed by
onboard sensors enabling the ship operators to acquire adequate situational
awareness.

●&nbsp;&nbsp;&nbsp;&nbsp; Integrated Onboard and Shore
Operations

The
fleet stays continuously connected with the ship owner's onshore vessel
operations management team. With full access to the onboard engine and assets
operations information through the remote monitoring systems, the operators get
superior visibility for maintenance planning and optimal vessel operations
management. 

●&nbsp;&nbsp;&nbsp;&nbsp; Single Source of Truth Across
the Fleet 

The
Smart Ship© Hub (SSH) maritime digitization platform catalyzes the collection
of raw shipping data from Vessel Machinery, IoT sensors, and multiplexers,
harmonizes it, and delivers it to the shore team in the form of customized
Dashboards, Analytics, Alarms, Alerts, and Advisory. Leveraging data with the
help of AI/ML-powered integrated analytics creates immense value as it reduces
human effort in gaining business insights for the organization, ship owners,
and operators. 

Previously,
it was essential to contact a third party or consult various sources of
information separately to check the ship's statistics, which took a long time.
SSH platform is the “go-to” unified and single source of truth for shipowners,
superintendents, and managers that simplifies dealing with problems that may
arise while sailing.

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Predictive Diagnostics

Predictive
Diagnostics is a proactive approach for solving unplanned downtime of vessels
due to equipment failure that helps create substantial cost savings for Ship
Managers and Operators. 

Live data from Main
Engine, Auxillaries, Diesel Generators, Boilers, Scrubbers, Cranes, Flow
Meters, Pumps etc. with historical data coming from noon reports and sea trials
gives a peek at live conditions on machines running on the vessels. These data
sets are continuously monitored and machine learning and algorithms models
bring in actionable intelligence about the condition of machinery and spares
further supported by an advisory modeling system. Owners and operators can take
decisions supported by the system to make the sailing smooth and operationally
efficient. 

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Predictive Maintenance of Machinery

It
is a proactive approach in which early study of the machinery while it is still
operating normally exposes the shipboard equipment or the machinery's
condition, thereby forewarning of the impending degradation or the onset of
defects in the machinery. 

With
full awareness of the equipment's current and future capabilities, maintenance
activities can be undertaken in advance in a planned manner, supporting optimal
utilization of resources.&nbsp; Predictive
maintenance aims to solve problems and any maintenance challenges ahead of
time. It is also by far the most cost-effective as compared to traditional
maintenance approaches. Using Smart Ship Hub platform, Vessel Owners &amp;
Operators are saving upto 11% in their maintenance budget with our Tech
Advisory on vessel operations. 

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Vessel Health Index VHI

Smart Ship© Hub
Remote generate the most empirical and accurate Vessel Health Index (VHI) to
aid vessel condition monitoring, ensuring the safety and security of the
vessel. Get an account of reliability-centered maintenance identified for
different parts of the ship. Powered by AI/ML, the VHI provides estimates the “Remaining
useful life” of specific equipment and enabling a quantified measure of Vessel health
index. 

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Individual Vessel Performance Management with Select Smart Sensors and
Gateway Technologies

Smart
Ship© Hub Remote uses smart sensor technologies, connectors, and proprietary
gateway devices, which enable efficient shipping data capturing and
communication with reliable safety and security. 

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Cloud-based Services

SSH is an
end-to-end Cloud agnostic digital platform. Available on any 3rd
party cloud services, that suits the customer, the digital platform can be
seamlessly accessed from mobile, tabs or desktops remotely . Cloud solution brings
real-time benefits and drives productivity, efficiency by providing live and
holistic data on complete vessel and voyage performance while bringing down
on-prem infrastructure cost by upto 40% in few cases. 


●&nbsp;&nbsp;&nbsp;&nbsp; Reduced Downtime of your fleet 

●&nbsp;&nbsp;&nbsp;&nbsp; Improved Reliability of Assets across 

●&nbsp;&nbsp;&nbsp;&nbsp; Increased efficiency across machinery and
decision making processes 

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Maximized Reliability
and voyage safety

Aside
from the above primary benefits, there are a host of secondary benefits:

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Reduced overheads

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Increased energy savings&nbsp;

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Overall operational efficiency
gains

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Reduced maintenance and repair
costs

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Minimized component failures

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Forecast of inventory preventing
unnecessary hoarding of parts and wastage of resources&nbsp;

<a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Optimal utilization of man-hours

Optimizing Machinery Performance, Energy Efficiency, Vessel Performance 
with Integrated Digital Platform and High Frequency Data
<h1>Seamless Remote Monitoring</h1><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/54bfced8c38579ddfd1f1bc4816756ed6620d1beb15d0ecfd3ce52a80b0b610f/remote.jpg" alt="Image" />Being able to navigate on going maritime ecosystem
inefficiencies and challenges is no longer sufficient. It is time to scale the
digital transformation (DX) muscles and strategically optimize your vessel
operations. What new technologies can you embrace to strengthen your supply chain, operate vessels more efficiently,
reliably, and lessen the carbon footprint impact?<h2><a></a>Smart Ship© Hub Remote Overview</h2><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/5baeca16d85e398e6c9f44155be43904cd30738d0f2f2fddf6c4ea8c1db4d13e/remote.png" alt="Image" />Smart Ship© Hub Remote, the digital platform offers real-time condition monitoring and analysis
of machinery, vessel performance while enabling predictive diagnostics and maintenance. Aside from capturing high-frequency data, we leverage legacy machine
data, noon reports, maker manuals, and information collected from ship trials
for integrated analytics. Our proprietary machine learning algorithms are
trained to gain insight and provide business intelligence on vessel
performance, fuel consumption, main engine health, and the overall condition of
the vessel.&nbsp; Smart Ship© Hub Remote leverages the power of Industrial IOT for to
help ship owners, &nbsp;operators, charterers
detect potential issues before it arises, empowering them to make data-driven intelligent
decisions and proactive adjustments. That positively impacts business KPIs,
reducing unplanned vessel downtime, increasing operational efficiency, and
propelling the ship towards global sustainability goals.<h3><a></a>Remote monitoring to protect
you from existing risks</h3><h3><a></a>Advanced analytics for freedom
from future risks</h3>Maritime trade is a high-stakes business
where shipowners, operators, charterers
shoulder crucial responsibilities. Smart Ship© Hub (SSH) understands the
complexities of the marine environment and the variety of problems they have to
deal with. On board equipment and machinery are more prone to breakdowns,
malfunctions, and unexpected repairs. Vessels are under constant motion
rendering its equipment to have continuous wear and tear. A break down ( or in
other words Downtime) takes top dollar to ensure the vessel is once again seaworthy
. Time elapsed between the downtime and it being back in operational condition
is directly related to premium paid for maintenance . Mechanical or structural flaws can cause
serious mishaps and have often resulted in casualties during routine ship
operations. Machinery failure
accounted for one in three reported shipping casualties or incidents globally,
as per the Allianz Safety and Shipping Review 2022. Statistics do not lie! Marine power systems failure or vessel
engine damage can not only put all assets, cargo, the crew on board the vessel in danger but also poses a threat to
marine ecology. And if the vessel is a chemical tanker , crude oil carrier or
dry bulk that is combustible: the risks and accountabilities are significant. Vessel
damage or vessel downtime translates to significant
financial losses in business. There's constant pressure to prevent incidents at sea and reduce vessel
downtime, along with the challenge of seeing maintenance costs remain in
check. Smart Ship ©Hub (SSH) endeavors to help
alleviate the problems and manage the risks that maritime trade ship owners and
operators face. With our digital platform in play, vessels are highly reliable
and the reliability ranges between 20% to 33% , one in three downtime scenarios
have are being constantly successfully predicted and averted. Planned maintenance is essential for
reducing the frequency of equipment or machinery failures and avoiding
breakdowns that may lead to disruptions in vessel operations. However,
continuing to sail within the comfort zone—relying solely on traditional ship
maintenance methods—will leave ship owners and operators vulnerable to
unexpected breakdowns and costly downtime. It thus becomes
"mission-critical" to get Smart and explore a newer, more economical, and effective maintenance approach.<h4><a></a>Embrace Digital Innovation </h4><h4><a></a>Increase Fleet Uptime</h4><h3><a></a>Reliable
and cost-effective technologies with multilevel impact—even from REMOTE
locations in real-time. </h3><h2><a></a>Smart Ship Hub’s “ All in One”
Feature </h2><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/4164be773d994561009661ed0caba1193662bc2667d055fdac8d06c6545f1386/all-in-one.png" alt="Image" />Vessel Condition monitoring is the process
of continuously observing a set of voyage metrics and/or shipping process
variables that indicate the state of the vessel being monitored. Smart Ship© Hub
Remote IOT Services facilitates this even from the farthest offshore location.
Remote vessel condition monitoring is critical to sustainable shipping
operations and machine health maintenance and management.Smart Ship© Hub Remote’s digital services
present a real-time monitoring data-driven predictive maintenance solution for
the shipping industry, powered by dynamic machine learning (ML) algorithms and
artificial intelligence (AI). Smart Ship© Hub (SSH) digital platform
uses high-frequency data and proprietary algorithms to create a Vessel Health
Index, providing real-time insights into machinery health and equipment
condition. A very unique offering where the vessel’s health is quantified in
terms of its machinery fitness and vessel’s over all sea worthiness. Augmenting
your planned maintenance systems with Smart Ship© Hub Remote will support you
in proactively addressing potential issues and avoiding costly downtime. Remote
monitoring and Live communication of vessel and machine health data enable
predictive maintenance and effective management of shipping operations. Maritime digitalization technologies are
now a prerequisite, a cost-competitive investment that will serve you well in
the long term.<h3><a></a>“An organization with a ‘safety
culture’ is one that gives appropriate priority
to safety and realizes that safety has to be managed like other areas of the
business.”</h3><h3><a></a>– International Maritime Organisation </h3>It is crucial to conduct timely maintenance activities for the vessel's
structural integrity and stability to remain in compliance with safety
standards&nbsp; and environmental
regulations.&nbsp; Remote management of Vessels through collection of fleet-wide data across vessels coming from the
engine and onboard equipment, end-to-end analytics, and reporting have a
combined positive impact, redefining the Vessel
Health &amp; Condition Monitoring process. <h3><a></a>SMART ALERTS </h3><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/c84df47718e093990d6a3d2b555c11a295ea3b08444d69d3df1c398d54f65e9c/smart-ship-platform.jpg" alt="Image" />Smart Ship© Hub
Remote’s&nbsp; SMART ALERT for various failure
modes provides advance warning on possible downtime. The ALERT engine is configured
to generate alarms when actual and potential errors or failure is detected. The
other purpose of the alarm is to prioritize the failures based on how serious
the consequences could be and how frequently they occur. It also generated
Failure Mode Effect Analysis along with in-depth knowledge on risks of failures
that could inform timely actions and support continuous improvement.Relevant drawings,
videos, images of equipment, safety procedures, inspections, and work orders
are linked to these alarms. The generated alarms and notifications can be made
available on devices like iPads aside from Desktops. The SMART ALERT tool is
most useful for planning optimal downtime schedules in advance, well before the
failure occurs. <h3><a></a>Predictive Analytics</h3>Predictive
Analytics enables maritime trade shipowners and operators to avoid costly
unplanned downtime and increase asset reliability from a remote environment.
Graphical chart-based and tabular insights based on historical as well as Live
shipping data are available as a customized service to accurately measure
critical vessel parameters. Our validated and
globally trusted ML-based advanced integrated analytics detect and deliver
early warnings on vessel condition, engine health, and other asset
anomalies—sometimes weeks or months before the failure occurs. The predictive
algorithms can forecast the exact time of failure, allowing maintenance
priorities to be specified. Predictive
Analytics provides the necessary information to trigger Alerts and assists
engineers in determining the next maintenance cycle for machinery or equipment
in service to prevent unanticipated problems during the voyage and wastage of
resources. With substantial
cost savings as one of the key outcomes, maritime trade organizations are
deploying Smart Ship© Hub Remote for Predictive Maintenance that ensures lower
vessel downtime.<h3><a></a>Diagnostics Algorithms </h3>The SMART ALERT tool
triggers our proprietary machine learning (ML) algorithms that gets trained to
deliver vessel health diagnostics by utilizing live data generated together
with historical data, past FMEA’s, Legacy onboard data and other pertinent process
data captured through our Data Quality Management (DQM) feature. The
data-driven machine learning-based wear fault diagnostic model is built to
support engineers in determining the cause of fault modes correctly. The diagnostics
algorithms identify the root cause and provide clear actionable insights and
recommendations for making informed decisions. The ML algorithms thus help
avoid failures, especially those earmarked as a high priority by the automated
Technical Advisory Reports for crew and shore staff. Smart Ship© Hub
Remote IOT Services can be relied upon for data-backed guidance on corrective
measures, leading to substantial savings in spares, maintenance costs, labor,
and lost business opportunities.<h2><a></a>Smart Ship© Hub Remote Features</h2><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/5e9128818eefa1d2f8aabea21d9416365bd166fcfaca09b584ad6611f8fd593a/4.png" alt="Image" /><h3>●&nbsp;&nbsp;&nbsp;&nbsp; Continuous Tracking &amp;
Situational Awareness</h3>Smart Ship© Hub
Remote is a 24/7 AI/ML-powered intelligent system that facilitates remote
tracking of ships during voyages to and from the port.. The entire fleet of
ships may also be continuously monitored from an onshore remote center and
controlled by an automatic system. Smart Ship© Hub Remote IOT Services
facilitate the seamless communication of real-time voyage data informed by
onboard sensors enabling the ship operators to acquire adequate situational
awareness.<h3>●&nbsp;&nbsp;&nbsp;&nbsp; Integrated Onboard and Shore
Operations</h3>The
fleet stays continuously connected with the ship owner's onshore vessel
operations management team. With full access to the onboard engine and assets
operations information through the remote monitoring systems, the operators get
superior visibility for maintenance planning and optimal vessel operations
management. <h3>●&nbsp;&nbsp;&nbsp;&nbsp; Single Source of Truth Across
the Fleet </h3>The
Smart Ship© Hub (SSH) maritime digitization platform catalyzes the collection
of raw shipping data from Vessel Machinery, IoT sensors, and multiplexers,
harmonizes it, and delivers it to the shore team in the form of customized
Dashboards, Analytics, Alarms, Alerts, and Advisory. Leveraging data with the
help of AI/ML-powered integrated analytics creates immense value as it reduces
human effort in gaining business insights for the organization, ship owners,
and operators. Previously,
it was essential to contact a third party or consult various sources of
information separately to check the ship's statistics, which took a long time.
SSH platform is the “go-to” unified and single source of truth for shipowners,
superintendents, and managers that simplifies dealing with problems that may
arise while sailing.<h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Predictive Diagnostics</h3>Predictive
Diagnostics is a proactive approach for solving unplanned downtime of vessels
due to equipment failure that helps create substantial cost savings for Ship
Managers and Operators. Live data from Main
Engine, Auxillaries, Diesel Generators, Boilers, Scrubbers, Cranes, Flow
Meters, Pumps etc. with historical data coming from noon reports and sea trials
gives a peek at live conditions on machines running on the vessels. These data
sets are continuously monitored and machine learning and algorithms models
bring in actionable intelligence about the condition of machinery and spares
further supported by an advisory modeling system. Owners and operators can take
decisions supported by the system to make the sailing smooth and operationally
efficient. <h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Predictive Maintenance of Machinery</h3>It
is a proactive approach in which early study of the machinery while it is still
operating normally exposes the shipboard equipment or the machinery's
condition, thereby forewarning of the impending degradation or the onset of
defects in the machinery. With
full awareness of the equipment's current and future capabilities, maintenance
activities can be undertaken in advance in a planned manner, supporting optimal
utilization of resources.&nbsp; Predictive
maintenance aims to solve problems and any maintenance challenges ahead of
time. It is also by far the most cost-effective as compared to traditional
maintenance approaches. Using Smart Ship Hub platform, Vessel Owners &amp;
Operators are saving upto 11% in their maintenance budget with our Tech
Advisory on vessel operations. <h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Vessel Health Index VHI</h3>Smart Ship© Hub
Remote generate the most empirical and accurate Vessel Health Index (VHI) to
aid vessel condition monitoring, ensuring the safety and security of the
vessel. Get an account of reliability-centered maintenance identified for
different parts of the ship. Powered by AI/ML, the VHI provides estimates the “Remaining
useful life” of specific equipment and enabling a quantified measure of Vessel health
index. <h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Individual Vessel Performance Management with Select Smart Sensors and
Gateway Technologies</h3>Smart
Ship© Hub Remote uses smart sensor technologies, connectors, and proprietary
gateway devices, which enable efficient shipping data capturing and
communication with reliable safety and security. <h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Cloud-based Services</h3>SSH is an
end-to-end Cloud agnostic digital platform. Available on any 3rd
party cloud services, that suits the customer, the digital platform can be
seamlessly accessed from mobile, tabs or desktops remotely . Cloud solution brings
real-time benefits and drives productivity, efficiency by providing live and
holistic data on complete vessel and voyage performance while bringing down
on-prem infrastructure cost by upto 40% in few cases. 
<h2><a></a>Smart Ship© Hub Remote Benefits</h2><img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/db62ae4759e35820f12cff31f09d862bca87852ba17d3d1c58dda49a416cfd00/remotereatre.pngmew.png" alt="Image" /><h3>●&nbsp;&nbsp;&nbsp;&nbsp; Reduced Downtime of your fleet </h3><h3>●&nbsp;&nbsp;&nbsp;&nbsp; Improved Reliability of Assets across </h3><h3>●&nbsp;&nbsp;&nbsp;&nbsp; Increased efficiency across machinery and
decision making processes </h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp;
Maximized Reliability
and voyage safety </h3>Aside
from the above primary benefits, there are a host of secondary benefits:<h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Reduced overheads</h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Increased energy savings&nbsp; </h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Overall operational efficiency
gains </h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Reduced maintenance and repair
costs </h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Minimized component failures</h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Forecast of inventory preventing
unnecessary hoarding of parts and wastage of resources&nbsp; </h3><h3><a></a>●&nbsp;&nbsp;&nbsp;&nbsp; Optimal utilization of man-hours</h3>

Logistics / Warehouse / Cargo

Electricity / Gas / Resources / Energy

Environment / SGDs / Recycling

Software

Green technology

Optimizing Machinery Performance, Energy Efficiency, Vessel Performance 
with Integrated Digital Platform and High Frequency Data


VESSEL HEALTH & CONDITION MONITORING, PREDICTIVE MAINTENANCE & DIAGNOSTICS 

While most&nbsp;Asian countries face heavy exposure to climate risks,&nbsp;greening efforts&nbsp;vary greatly across the region&nbsp;because of imbalances in wealth and how much countries rely&nbsp;on pollutive fossil fuels.

Given&nbsp;such challenges, state-owned enterprises will play an “outsized role” in decarbonisation, because their agendas straddle&nbsp;both economic and national interests, say&nbsp;executives at the&nbsp;Boston Consulting Group (BCG), which&nbsp;<a href="https://www.eco-business.com/news/boston-consulting-group-opens-regional-sustainability-hub-in-singapore/">set up a sustainability office</a>&nbsp;in Singapore last March.&nbsp;Many large government-owned businesses control key industrial verticals, such as oil extraction, infrastructure and electricity transmission, in Southeast Asia.

In an interview with Eco-Business, BCG experts discussed the challenges of scaling up nascent technology such as carbon capture and clean hydrogen fuel. The management consulting firm is helping&nbsp;the shipping industry&nbsp;to identify promising green technologies and analyse&nbsp;how the introduction of low-carbon fuels will change vessel refuelling locations globally, it&nbsp;shared.

Watch the video for more&nbsp;analysis of Asia’s climate trajectory, and how&nbsp;BCG&nbsp;is keeping up with evolving sustainability trends through its hiring and acquisition strategy.

<h1>Tackling climate change in a mosaicked Asia</h1>Asia's green transition pathways need to be socially inclusive given huge differences in economic development across the region, says experts at the Boston Consulting Group. State-owned enterprises have an "outsized" role to play, they add.While most&nbsp;Asian countries face heavy exposure to climate risks,&nbsp;greening efforts&nbsp;vary greatly across the region&nbsp;because of imbalances in wealth and how much countries rely&nbsp;on pollutive fossil fuels.Given&nbsp;such challenges, state-owned enterprises will play an “outsized role” in decarbonisation, because their agendas straddle&nbsp;both economic and national interests, say&nbsp;executives at the&nbsp;Boston Consulting Group (BCG), which&nbsp;<a href="https://www.eco-business.com/news/boston-consulting-group-opens-regional-sustainability-hub-in-singapore/">set up a sustainability office</a>&nbsp;in Singapore last March.&nbsp;Many large government-owned businesses control key industrial verticals, such as oil extraction, infrastructure and electricity transmission, in Southeast Asia.In an interview with Eco-Business, BCG experts discussed the challenges of scaling up nascent technology such as carbon capture and clean hydrogen fuel. The management consulting firm is helping&nbsp;the shipping industry&nbsp;to identify promising green technologies and analyse&nbsp;how the introduction of low-carbon fuels will change vessel refuelling locations globally, it&nbsp;shared.Watch the video for more&nbsp;analysis of Asia’s climate trajectory, and how&nbsp;BCG&nbsp;is keeping up with evolving sustainability trends through its hiring and acquisition strategy.Established in 2009, Eco-Business is Asia Pacific’s largest media and business intelligence organisation dedicated to sustainable development and ESG performance.

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Asia's green transition pathways need to be socially inclusive given huge differences in economic development across the region, says experts at the Boston Consulting Group. State-owned enterprises have an "outsized" role to play, they add.

Tackling climate change in a mosaicked Asia

SINGAPORE,&nbsp;June 5, 2023 - World Environment Day turns 50 on&nbsp;June 5, 2023.&nbsp;<a href="https://www.trinasolar.com/en-apac" target="_blank" rel="nofollow">Trina Solar</a>, a leading global PV and smart energy total solution provider inspired by the Kyoto Protocol since its inception, has been promoting sustainability through renewable energy for the past 25 years, while pursuing its mission to make solar energy accessible to all.

Trina Solar&nbsp;aims to use 100% renewable energy in global manufacturing and operations by 2030&nbsp;in order to contribute to the Paris Agreement's climate objectives. The company has expanded its sustainability efforts by implementing a variety of net-zero practices, including: net-zero operations, a net-zero value chain, and net-zero products.

Net-zero operations to uphold its green commitment

Trina Solar&nbsp;has employed a variety of carbon neutrality measures in order to meet its 2030 objective. Included in the plan are improvements to energy efficiency, net-zero industrial parks and factories, waste reduction, reuse, and recycling (3Rs), use of renewable energy, digital management of energy and carbon emissions, and development and implementation of carbon reduction technology.

Trina Solar&nbsp;insists on incorporating environmental responsibility into every aspect of its operations. The company has instituted a thorough and effective ISO14001 environmental management system at all of its global plants, taking into consideration the preservation of the local ecosystem and biodiversity from the time it selects sites for its manufacturing facilities. Through an array of environmental management systems and processes, the environmental impact of the organization's products, activities, and services is effectively minimized.

In&nbsp;April 2023,&nbsp;Trina Solar's&nbsp;Yiwu plant became the first in the PV industry to be officially certified as a Zero Carbon Factory. In addition to reflecting the company's carbon reduction practices in technology, products, equipment, and process management over the past quarter century, this demonstrates&nbsp;Trina Solar's&nbsp;strong commitment to sustainable development.

<a href="https://mma.prnasia.com/media2/2092720/The_Zero_Carbon_Factory__Type_I__Certificate.jpg?p=publish" target="_blank" rel="nofollow"></a>The Zero Carbon Factory (Type I) Certificate

Trina Solar's&nbsp;green operations also involve the sustainable use of natural resources, the responsible emission and recycling of waste gas, wastewater, and solid waste, and the substantial reduction of electricity consumption, water consumption, and greenhouse gas (GHG) emissions.&nbsp;Trina Solar's&nbsp;GHG emissions per unit of production for cell and module products decreased by 50.81% and 61.88%, respectively, in 2022, compared with those in 2020, attaining or exceeding its carbon emission reduction objectives early.

20% lower carbon footprint, a net-zero value chain co-created with partners

Trina Solar&nbsp;not only implements its own sustainable development principles, but also endeavors to convey its vision and goals to its global associates. By incorporating sustainability into all procurement and research processes, the organization is committed to working with global partners to promote a net-zero value chain and establish a green ecosystem.

Together with its partners,&nbsp;Trina Solar&nbsp;has split the carbon footprints of its modules and developed low-carbon silicon materials.&nbsp;Trina Solar's&nbsp;150 micron and 130 micron wafers have a 20% lower carbon footprint than conventional wafers, thanks to the company's technical efforts to reduce wafer thickness. As a result of its exceptional performance in the green supply chain field,&nbsp;Trina Solar&nbsp;was designated a "National Green Supply Chain Management Enterprise" by the Chinese Ministry of Industry and Information Technology (MIIT) in&nbsp;February 2023, when the 2022 Green Manufacturing List was released.

To become a globally competitive and innovative leader in value-added supply chain services,&nbsp;Trina Solar&nbsp;will continue to foster cross-sector collaboration and implement a green supply chain to drive the transformation and upgrading of upstream and downstream entities.

Contributing to a sustainable future through net-zero products

The path to carbon neutrality is guided by green technology.&nbsp;Trina Solar&nbsp;is creating a green, net-zero energy future with its customers via its superior technology platforms and innovative, ultra-high power products.

In 2022,&nbsp;Trina Solar's&nbsp;Vertex modules were awarded a Life Cycle Assessment (LCA) Certificate by TÜV Rheinland for their low-carbon management capabilities throughout their entire life cycle. Later that same year, TÜV Rheinland again awarded the company's Vertex modules with a Carbon Footprint Certificate in recognition of the products' industry-leading performance in reducing carbon footprints.

Trina Solar&nbsp;is also one of the first companies in the industry to initiate the Environmental Product Declaration (EPD) and carbon footprint certification procedures for&nbsp;n-type modules.

<a href="https://mma.prnasia.com/media2/2092721/Launching_ceremony_UL_product_carbon_footprint_EPD.jpg?p=publish" target="_blank" rel="nofollow"></a>Launching ceremony with UL for product carbon footprint and EPD

From implementing net-zero operations to developing a net-zero value chain to manufacturing net-zero products,&nbsp;Trina Solar&nbsp;is committed to reducing carbon emissions for the benefit of society at every step of the way. Moving forward,&nbsp;Trina Solar&nbsp;will continue to work with all stakeholders to protect the biosphere, support global decarbonization initiatives, and make solar energy available to people everywhere.

Source: Trina Solar Energy Development Pte. Ltd.

<h1>Trina Solar accelerates net-zero practices to help build a sustainable planet</h1>SINGAPORE,&nbsp;June 5, 2023 - World Environment Day turns 50 on&nbsp;June 5, 2023.&nbsp;<a href="https://www.trinasolar.com/en-apac" target="_blank" rel="nofollow">Trina Solar</a>, a leading global PV and smart energy total solution provider inspired by the Kyoto Protocol since its inception, has been promoting sustainability through renewable energy for the past 25 years, while pursuing its mission to make solar energy accessible to all.Trina Solar&nbsp;aims to use 100% renewable energy in global manufacturing and operations by 2030&nbsp;in order to contribute to the Paris Agreement's climate objectives. The company has expanded its sustainability efforts by implementing a variety of net-zero practices, including: net-zero operations, a net-zero value chain, and net-zero products.Net-zero operations to uphold its green commitmentTrina Solar&nbsp;has employed a variety of carbon neutrality measures in order to meet its 2030 objective. Included in the plan are improvements to energy efficiency, net-zero industrial parks and factories, waste reduction, reuse, and recycling (3Rs), use of renewable energy, digital management of energy and carbon emissions, and development and implementation of carbon reduction technology.Trina Solar&nbsp;insists on incorporating environmental responsibility into every aspect of its operations. The company has instituted a thorough and effective ISO14001 environmental management system at all of its global plants, taking into consideration the preservation of the local ecosystem and biodiversity from the time it selects sites for its manufacturing facilities. Through an array of environmental management systems and processes, the environmental impact of the organization's products, activities, and services is effectively minimized.In&nbsp;April 2023,&nbsp;Trina Solar's&nbsp;Yiwu plant became the first in the PV industry to be officially certified as a Zero Carbon Factory. In addition to reflecting the company's carbon reduction practices in technology, products, equipment, and process management over the past quarter century, this demonstrates&nbsp;Trina Solar's&nbsp;strong commitment to sustainable development.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/cf21ce272127f95dcf6518a41bdb4a6dcc6448ccbcef4642893dfbfbd51de835/The_Zero_Carbon_Factory__Type_I__Certificate.jpg" alt="The Zero Carbon Factory (Type I) Certificate"/><a href="https://mma.prnasia.com/media2/2092720/The_Zero_Carbon_Factory__Type_I__Certificate.jpg?p=publish" target="_blank" rel="nofollow"></a>The Zero Carbon Factory (Type I) CertificateTrina Solar's&nbsp;green operations also involve the sustainable use of natural resources, the responsible emission and recycling of waste gas, wastewater, and solid waste, and the substantial reduction of electricity consumption, water consumption, and greenhouse gas (GHG) emissions.&nbsp;Trina Solar's&nbsp;GHG emissions per unit of production for cell and module products decreased by 50.81% and 61.88%, respectively, in 2022, compared with those in 2020, attaining or exceeding its carbon emission reduction objectives early.20% lower carbon footprint, a net-zero value chain co-created with partnersTrina Solar&nbsp;not only implements its own sustainable development principles, but also endeavors to convey its vision and goals to its global associates. By incorporating sustainability into all procurement and research processes, the organization is committed to working with global partners to promote a net-zero value chain and establish a green ecosystem.Together with its partners,&nbsp;Trina Solar&nbsp;has split the carbon footprints of its modules and developed low-carbon silicon materials.&nbsp;Trina Solar's&nbsp;150 micron and 130 micron wafers have a 20% lower carbon footprint than conventional wafers, thanks to the company's technical efforts to reduce wafer thickness. As a result of its exceptional performance in the green supply chain field,&nbsp;Trina Solar&nbsp;was designated a "National Green Supply Chain Management Enterprise" by the Chinese Ministry of Industry and Information Technology (MIIT) in&nbsp;February 2023, when the 2022 Green Manufacturing List was released.To become a globally competitive and innovative leader in value-added supply chain services,&nbsp;Trina Solar&nbsp;will continue to foster cross-sector collaboration and implement a green supply chain to drive the transformation and upgrading of upstream and downstream entities.Contributing to a sustainable future through net-zero productsThe path to carbon neutrality is guided by green technology.&nbsp;Trina Solar&nbsp;is creating a green, net-zero energy future with its customers via its superior technology platforms and innovative, ultra-high power products.In 2022,&nbsp;Trina Solar's&nbsp;Vertex modules were awarded a Life Cycle Assessment (LCA) Certificate by TÜV Rheinland for their low-carbon management capabilities throughout their entire life cycle. Later that same year, TÜV Rheinland again awarded the company's Vertex modules with a Carbon Footprint Certificate in recognition of the products' industry-leading performance in reducing carbon footprints.Trina Solar&nbsp;is also one of the first companies in the industry to initiate the Environmental Product Declaration (EPD) and carbon footprint certification procedures for&nbsp;n-type modules.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/8b7dd792ae593e2bdc68afd6c1b24d75b8b5f542e90d98e1052854fd7316640d/Launching_ceremony_UL_product_carbon_footprint_EPD.jpg" alt="Image"/><a href="https://mma.prnasia.com/media2/2092721/Launching_ceremony_UL_product_carbon_footprint_EPD.jpg?p=publish" target="_blank" rel="nofollow"></a>Launching ceremony with UL for product carbon footprint and EPDFrom implementing net-zero operations to developing a net-zero value chain to manufacturing net-zero products,&nbsp;Trina Solar&nbsp;is committed to reducing carbon emissions for the benefit of society at every step of the way. Moving forward,&nbsp;Trina Solar&nbsp;will continue to work with all stakeholders to protect the biosphere, support global decarbonization initiatives, and make solar energy available to people everywhere.Source: Trina Solar Energy Development Pte. Ltd.

Trina Solar accelerates net-zero practices to help build a sustainable planet

Apical, through its renewable energy subsidiary Bio-Oils located in Huelva,&nbsp;Spain, has established a joint venture with Cepsa to produce second generation (2G) biofuels by constructing the largest plant in southern&nbsp;Europe.&nbsp;The joint venture will entail an investment of up to&nbsp;€1 billion, one of the largest private investments in the history of the southern Spanish region of Andalusia.&nbsp;The alliance marks Apical's entry to the sustainable aviation fuels (SAF) market and a key milestone in RGE's strategy to produce a range of fuels to decarbonise aviation, maritime and land transportation. Apical, a leading vegetable oil processor, is a member of the&nbsp;Singapore-headquartered RGE group of companies.

The new plant, which is scheduled to begin operation in H1 2026, can produce up to 500,000 tons of SAF and/or renewable diesel annually, enabling the reduction of CO2&nbsp;emissions by up to 90 percent, as compared to traditional fuels.

SAF is often viewed as a tool to a zero-emissions future. However, the&nbsp;key global challenge to the production of SAF is access to feedstock (renewable waste and residue raw materials). As a large global integrated processor of vegetable oils, Apical is able to efficiently and sustainably extract waste and residue from its supply chain and its processes in a transparent and traceable manner.

Through the joint venture, the plant will secure the majority of its feedstock supply from Apical's agricultural waste and residue through a global, long-term agreement. Cepsa will contribute its technical expertise and experience in the development of large industrial projects and fuel production; and knowledge of the European market and the decarbonisation goals of its customers in the transport sector. The facility will be located at Cepsa's La Rábida Energy Park in the Spanish province of Huelva.

Dato'&nbsp;Yeo How, President of Apical, said: "Apical's ample supply of high quality second generation feedstock is key to ensuring that the new joint venture delivers on our shared vision to reduce greenhouse gas emissions across air, sea and land transport. The wider use of SAF and renewable diesel provides significant benefits on a global scale, both in terms of mitigating the effects of climate change and promoting sustainable economic growth. Apical, through Bio-Oils, will ensure the supply of raw materials and contribute our own expertise in biofuels production."

The new facility will feature the latest technology for the production of second generation biofuels.&nbsp; Designed as a digital native plant, the new operation incorporates state-of-the-art technology including the latest industry advances in artificial intelligence, internet of things (IoT) and data analysis to maximise process efficiency, and ensure the highest standards of safety and environmental protection. By leveraging innovation, Apical is accelerating its sustainable operations in line with Apical2030's Pillar 3 (Green Innovation) of its strategic sustainability roadmap.

Pratheepan Karunagaran, Executive Director, Apical, said: "Aviation emissions account for 2-3 percent of global energy-related CO2&nbsp;emissions and are expected to grow by 300-700 percent by 2050[1]. To reduce the direct carbon emissions of flying, SAF can be an immediate solution. A next-generation low-carbon fuel produced from 100% renewable waste and residue raw materials, it works seamlessly with existing aircraft engines and fuelling infrastructure.&nbsp; As the availability of waste and residue grows in tandem with the expansion of Apical's global footprint and capacities, we are able to create value-added partnerships for our waste stream in various parts of the world, especially in&nbsp;Asia."

With regard to the development of the SAF industry in&nbsp;Asia, Pratheepan commented: "SAF in&nbsp;Asia&nbsp;has much potential for growth and development.&nbsp; The good news is: as more countries begin to recognise the importance of sustainable practices and environmental responsibility, there is likely a greater focus on promoting the adoption of SAF throughout the aviation industry," he added.

Juan Manuel Moreno Bonilla, highlighted in his speech: "Cepsa has been investing in Huelva and Andalusia for almost 60 years and has been an active part and main player in the progress experienced in our land. Cepsa has made an outstanding contribution to our progress and to the creation of employment, with almost 8,000 direct and indirect jobs. Big bets like Cepsa's confirm that we are on the right track."

Maarten&nbsp;Wetselaar&nbsp;noted: "This alliance is a decisive step in our strategy to lead biofuels in&nbsp;Spain&nbsp;and&nbsp;Portugal&nbsp;and positions Andalusia as a European benchmark in sustainable energy production and circular economy. Second-generation biofuels are an immediate solution to support our customers' energy as they can be used in conventional engines, while enabling local development and increased energy autonomy in&nbsp;Europe."

Oscar Garcia&nbsp;said: "Cepsa has been Bio-Oils' largest customer for many years. We share many operational advantages, such as the proximity and interconnection of our facilities and the use of the Reina Sofía berth for the charge and discharge of our products. This new joint venture is a natural evolution of our relationship."

Apical&nbsp;is a leading vegetable oil processor with an expanding global footprint. Our vertically integrated mid-stream refining and value-added downstream processing makes us an integral supplier that supports the food, feed, oleochemicals and renewable fuel needs across industries. &nbsp;&nbsp;With integrated assets in strategic locations spanning&nbsp;Indonesia,&nbsp;China&nbsp;and&nbsp;Spain, Apical operates numerous refineries, oleochemical plants, renewable fuel plants and kernel crushing plants. Through joint ventures and strategic partnerships, Apical also has processing and distribution operations in&nbsp;Brazil,&nbsp;India,&nbsp;Pakistan,&nbsp;Philippines,&nbsp;Middle East,&nbsp;Africa,&nbsp;USA&nbsp;and&nbsp;Vietnam.

Apical's growth is built on the foundations of sustainability and transparency, and motivated by our strong belief that we can make a more meaningful impact even as we continue to grow our business and deliver innovative solutions to our customers.

Cepsa&nbsp;is a leading international company committed to sustainable mobility and energy with a solid technical experience after more than 90 years of activity. The company also has a world-leading chemicals business with increasingly sustainable operations.

In 2022, Cepsa presented its new strategic plan for 2030, Positive Motion, which projects its ambition to be a leader in sustainable mobility, biofuels, and green hydrogen in&nbsp;Spain&nbsp;and&nbsp;Portugal, and to become a benchmark in the energy transition. The company places customers at the heart of its business and will work with them to help them advance their decarbonization objectives.

ESG criteria inspire all of Cepsa's actions as it advances toward its net positive objective. Over the course of this decade, it will reduce its Scope 1 and 2 CO2 emissions by 55% and its carbon intensity index by 15-20%, with the goal of achieving net zero emissions by 2050.

Bio-Oils&nbsp;was founded in 2005 to develop biofuels projects, with the strategic objective to become a leading industry player in the Spanish and European biodiesel market.&nbsp; A member of the&nbsp;Singapore-based Apical group of companies, Bio-Oils´ wholly owned "La Rábida" Biodiesel Plant, located in Palos de la Frontera (Huelva), began operations in 2008 and today is one the most efficient plants in&nbsp;Spain, benefitting from a strategic location, with pipeline connections to vessel and tanker loading docks.

Through an ambitious R&amp;D program, Bio-Oils has obtained wide experience in the production of high-quality biofuels from a broad variety of oils. The plant currently uses all available first-use oils, and has been adapted to process other residual raw materials.&nbsp; Committed to operating at the highest levels of sustainability, Bio-Oils is a member of APPA (Association of Renewable Energy Producers), FOSFA (Federation of Oils, Seeds and Fats Associations), EBB (European Biodiesel Board), EABA (European Algae Biomass Association), and AIQBE (Association of Chemical Industries, Basic and Energy of Huelva).

RGE,&nbsp;headquartered in&nbsp;Singapore, is a group of resource-based manufacturing companies with global operations. We produce sustainable natural fibres, edible oils, green packaging and clean natural gas used to create products that feed, clothe and energise the world. We help improve billions of peoples' lives through sustainable products they use every day. With more than&nbsp;US$30 billion&nbsp;in assets and 60,000 employees, we are creating a more recyclable, biodegradable and lower carbon future.

Committed to sustainable development, conservation and community development, we strive towards what is good for the community, good for the country, good for the climate, good for the customer, and good for the company. With current operations spanning across&nbsp;Indonesia,&nbsp;China,&nbsp;Brazil,&nbsp;Spain&nbsp;and&nbsp;Canada, we continue to expand and engage new markets.

[1]&nbsp;Source: International Civil Aviation Organisation

<h1>Apical's Entry to Sustainable Aviation Fuels Takes Flight with Cepsa to Build the Largest 2G Biofuels Plant in Southern Europe</h1>Apical, through its renewable energy subsidiary Bio-Oils located in Huelva,&nbsp;Spain, has established a joint venture with Cepsa to produce second generation (2G) biofuels by constructing the largest plant in southern&nbsp;Europe.&nbsp;The joint venture will entail an investment of up to&nbsp;€1 billion, one of the largest private investments in the history of the southern Spanish region of Andalusia.&nbsp;The alliance marks Apical's entry to the sustainable aviation fuels (SAF) market and a key milestone in RGE's strategy to produce a range of fuels to decarbonise aviation, maritime and land transportation. Apical, a leading vegetable oil processor, is a member of the&nbsp;Singapore-headquartered RGE group of companies.The new plant, which is scheduled to begin operation in H1 2026, can produce up to 500,000 tons of SAF and/or renewable diesel annually, enabling the reduction of CO2&nbsp;emissions by up to 90 percent, as compared to traditional fuels.SAF is often viewed as a tool to a zero-emissions future. However, the&nbsp;key global challenge to the production of SAF is access to feedstock (renewable waste and residue raw materials). As a large global integrated processor of vegetable oils, Apical is able to efficiently and sustainably extract waste and residue from its supply chain and its processes in a transparent and traceable manner.Through the joint venture, the plant will secure the majority of its feedstock supply from Apical's agricultural waste and residue through a global, long-term agreement. Cepsa will contribute its technical expertise and experience in the development of large industrial projects and fuel production; and knowledge of the European market and the decarbonisation goals of its customers in the transport sector. The facility will be located at Cepsa's La Rábida Energy Park in the Spanish province of Huelva.Dato'&nbsp;Yeo How, President of Apical, said: "Apical's ample supply of high quality second generation feedstock is key to ensuring that the new joint venture delivers on our shared vision to reduce greenhouse gas emissions across air, sea and land transport. The wider use of SAF and renewable diesel provides significant benefits on a global scale, both in terms of mitigating the effects of climate change and promoting sustainable economic growth. Apical, through Bio-Oils, will ensure the supply of raw materials and contribute our own expertise in biofuels production."The new facility will feature the latest technology for the production of second generation biofuels.&nbsp; Designed as a digital native plant, the new operation incorporates state-of-the-art technology including the latest industry advances in artificial intelligence, internet of things (IoT) and data analysis to maximise process efficiency, and ensure the highest standards of safety and environmental protection. By leveraging innovation, Apical is accelerating its sustainable operations in line with Apical2030's Pillar 3 (Green Innovation) of its strategic sustainability roadmap.Pratheepan Karunagaran, Executive Director, Apical, said: "Aviation emissions account for 2-3 percent of global energy-related CO2&nbsp;emissions and are expected to grow by 300-700 percent by 2050[1]. To reduce the direct carbon emissions of flying, SAF can be an immediate solution. A next-generation low-carbon fuel produced from 100% renewable waste and residue raw materials, it works seamlessly with existing aircraft engines and fuelling infrastructure.&nbsp; As the availability of waste and residue grows in tandem with the expansion of Apical's global footprint and capacities, we are able to create value-added partnerships for our waste stream in various parts of the world, especially in&nbsp;Asia."With regard to the development of the SAF industry in&nbsp;Asia, Pratheepan commented: "SAF in&nbsp;Asia&nbsp;has much potential for growth and development.&nbsp; The good news is: as more countries begin to recognise the importance of sustainable practices and environmental responsibility, there is likely a greater focus on promoting the adoption of SAF throughout the aviation industry," he added.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/1.jpg" alt="The new joint venture was announced at La Rábida Energy Park with the participation of Juan Manuel Moreno Bonilla, President of the Regional Government of Andalusia; Maarten Wetselaar, Cepsa CEO (fourth from the left); Oscar Garcia, Bio-Oils CEO (second from the right); Dato’ Yeo How, President, Apical (fourth from the right); Pratheepan Karunagaran, Executive Director, Apical (third from the left); and Lamberto Gaggiotti, Head, Green Energy, Apical (first from the left)."/>Juan Manuel Moreno Bonilla, highlighted in his speech: "Cepsa has been investing in Huelva and Andalusia for almost 60 years and has been an active part and main player in the progress experienced in our land. Cepsa has made an outstanding contribution to our progress and to the creation of employment, with almost 8,000 direct and indirect jobs. Big bets like Cepsa's confirm that we are on the right track."Maarten&nbsp;Wetselaar&nbsp;noted: "This alliance is a decisive step in our strategy to lead biofuels in&nbsp;Spain&nbsp;and&nbsp;Portugal&nbsp;and positions Andalusia as a European benchmark in sustainable energy production and circular economy. Second-generation biofuels are an immediate solution to support our customers' energy as they can be used in conventional engines, while enabling local development and increased energy autonomy in&nbsp;Europe."Oscar Garcia&nbsp;said: "Cepsa has been Bio-Oils' largest customer for many years. We share many operational advantages, such as the proximity and interconnection of our facilities and the use of the Reina Sofía berth for the charge and discharge of our products. This new joint venture is a natural evolution of our relationship."Notes to Editors:Apical&nbsp;is a leading vegetable oil processor with an expanding global footprint. Our vertically integrated mid-stream refining and value-added downstream processing makes us an integral supplier that supports the food, feed, oleochemicals and renewable fuel needs across industries. &nbsp;&nbsp;With integrated assets in strategic locations spanning&nbsp;Indonesia,&nbsp;China&nbsp;and&nbsp;Spain, Apical operates numerous refineries, oleochemical plants, renewable fuel plants and kernel crushing plants. Through joint ventures and strategic partnerships, Apical also has processing and distribution operations in&nbsp;Brazil,&nbsp;India,&nbsp;Pakistan,&nbsp;Philippines,&nbsp;Middle East,&nbsp;Africa,&nbsp;USA&nbsp;and&nbsp;Vietnam.Apical's growth is built on the foundations of sustainability and transparency, and motivated by our strong belief that we can make a more meaningful impact even as we continue to grow our business and deliver innovative solutions to our customers.***Cepsa&nbsp;is a leading international company committed to sustainable mobility and energy with a solid technical experience after more than 90 years of activity. The company also has a world-leading chemicals business with increasingly sustainable operations.In 2022, Cepsa presented its new strategic plan for 2030, Positive Motion, which projects its ambition to be a leader in sustainable mobility, biofuels, and green hydrogen in&nbsp;Spain&nbsp;and&nbsp;Portugal, and to become a benchmark in the energy transition. The company places customers at the heart of its business and will work with them to help them advance their decarbonization objectives.ESG criteria inspire all of Cepsa's actions as it advances toward its net positive objective. Over the course of this decade, it will reduce its Scope 1 and 2 CO2 emissions by 55% and its carbon intensity index by 15-20%, with the goal of achieving net zero emissions by 2050.***Bio-Oils&nbsp;was founded in 2005 to develop biofuels projects, with the strategic objective to become a leading industry player in the Spanish and European biodiesel market.&nbsp; A member of the&nbsp;Singapore-based Apical group of companies, Bio-Oils´ wholly owned "La Rábida" Biodiesel Plant, located in Palos de la Frontera (Huelva), began operations in 2008 and today is one the most efficient plants in&nbsp;Spain, benefitting from a strategic location, with pipeline connections to vessel and tanker loading docks.Through an ambitious R&amp;D program, Bio-Oils has obtained wide experience in the production of high-quality biofuels from a broad variety of oils. The plant currently uses all available first-use oils, and has been adapted to process other residual raw materials.&nbsp; Committed to operating at the highest levels of sustainability, Bio-Oils is a member of APPA (Association of Renewable Energy Producers), FOSFA (Federation of Oils, Seeds and Fats Associations), EBB (European Biodiesel Board), EABA (European Algae Biomass Association), and AIQBE (Association of Chemical Industries, Basic and Energy of Huelva).***RGE,&nbsp;headquartered in&nbsp;Singapore, is a group of resource-based manufacturing companies with global operations. We produce sustainable natural fibres, edible oils, green packaging and clean natural gas used to create products that feed, clothe and energise the world. We help improve billions of peoples' lives through sustainable products they use every day. With more than&nbsp;US$30 billion&nbsp;in assets and 60,000 employees, we are creating a more recyclable, biodegradable and lower carbon future.Committed to sustainable development, conservation and community development, we strive towards what is good for the community, good for the country, good for the climate, good for the customer, and good for the company. With current operations spanning across&nbsp;Indonesia,&nbsp;China,&nbsp;Brazil,&nbsp;Spain&nbsp;and&nbsp;Canada, we continue to expand and engage new markets.[1]&nbsp;Source: International Civil Aviation Organisation

Chemistry

Agriculture / Forestry / Fisheries

Apical's Entry to Sustainable Aviation Fuels Takes Flight with Cepsa to Build the Largest 2G Biofuels Plant in Southern Europe

SINGAPORE, March 24, 2023 /CHINT, a global leader in smart energy solutions with over 35 years of global experience and a team of the industry's best engineers and research scientists, partners businesses, governments, and communities in Asia to reimagine smart energy solutions with next-generation innovations to Empower the World. The company offers Power-to-Plug solutions that propel organizations in the United States of America, Europe, West Asia and Africa and Asia Pacific to success with customizable, realistic, and superior quality products and services that meet their business, environmental and social goals.

With two decades of global expansion, CHINT's business network now covers more than 140 countries and regions worldwide in areas of low-voltage, power transmission and distribution, water, gas and electricity metering, green energy like solar and more. Last year, CHINT Global established its APAC Headquarters in&nbsp;Singapore. The company has since been working with the&nbsp;Singapore&nbsp;government such as in the SolarNova program led by the Housing Development Board and the Economic Development Board to enable HDB flats to adopt solar photovoltaic systems.

At the China Mechanical and Electrical Exhibition 2023 event held in&nbsp;Singapore&nbsp;from 22 to 24 March, CHINT shared with the industry stakeholders about how their company can partner CHINT to better prepare for the government's green initiatives using environmentally friendly power distribution solutions and highlighted the importance of safe and reliable transmission of electricity with the use of right products such as Low-voltage protection solutions. CHINT also showcased their leading-edge products including their Renewable Energy Solutions, Smart City Solutions, Environmental &amp; Intelligent Substation Solutions, Data Center Solutions and Building Power Distribution Solutions.

Johnson Luu, Director at CHINT APAC shared at the event about intelligent manufacturing. "Intelligent manufacturing plays a crucial role in supporting the accelerated pace of digitalization. The speed of production and implementation, and the use of superior quality smart energy products, work together in meeting the accelerated demand for power-to-plug solutions. Today, CHINT is one of the largest producer of circuit breakers - producing up to 3 million circuit breakers daily to serve the needs of the world. We have built the factory of the future, and we will continue to improve the structure of energy production and consumption. We will push the boundaries of innovation to grow our intelligent manufacturing expertise, grow in tandem with technological advances, and work towards building zero carbon factories", says Johnson.

Er.&nbsp;Lim Say Leong, Technical Director of CHINT Global and Sunlight Electrical and a former IEC Ambassador with 40 years of experience in the electrical engineering industry also shared at the event that "to optimize energy consumption and increase reliability, one-size-fits-all smart energy solutions are few. Customization is paramount, and it has become a common demand of companies. Today, smart energy solutions must be tailored to the needs of businesses and integrated seamlessly with existing systems. They should be designed with scalability in mind, especially in this era of digitalization, to allow for future expansion as the energy demand continues to grow. By doing so, we can pave the way for reliability, minimizing downtime, and ways to generate greater efficiency and cost savings over the long term."

CHINT's&nbsp;400m2&nbsp;Asia Pacific Innovation Lab is now the go-to platform for businesses, governments, academics, and communities in the APAC region to experience live demonstrations and simulations of proof-of-concept. Through this lab, customers can explore and experience CHINT's leading-edge solutions with smart energy technologies that are applicable for functions including the built environment, data centers, the industrial sector, and smart cities. The lab is a platform for customers to understand how smart energy solutions can be customized to their needs, integrated to their existing systems, and designed to meet with their technical specification requirements – while addressing industry challenges such as Remote Factory Acceptance Testing.

Interested parties who are keen on future collaborations can schedule a visit to CHINT's Innovation Lab via&nbsp;<a href="mailto:sales.apac@chint.com" target="_blank" rel="nofollow">sales.apac@chint.com</a>.

Founded in 1984, CHINT's business across smart electric, green energy, industrial control and automation, smart building, and many others, form a full industry chain advantage encapsulating "electricity". CHINT has operations in more than 140 countries and regions, with a revenue of nearly&nbsp;USD16.1 billion&nbsp;in 2021.

<h1>CHINT shares Expert Viewpoints about the Smart Energy Industry at the China Mechanical and Electrical Exhibition 2023 event</h1>SINGAPORE, March 24, 2023 /CHINT, a global leader in smart energy solutions with over 35 years of global experience and a team of the industry's best engineers and research scientists, partners businesses, governments, and communities in Asia to reimagine smart energy solutions with next-generation innovations to Empower the World. The company offers Power-to-Plug solutions that propel organizations in the United States of America, Europe, West Asia and Africa and Asia Pacific to success with customizable, realistic, and superior quality products and services that meet their business, environmental and social goals.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/1.jpg" alt="Left to right: Johnson Luu, Director of Asia Pacific, CHINT Global, Zheng Bei Bei, Vice President, CHINT Global, Her Excellency Sun Haiyan, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Republic of Singapore, Alvin Tan, Minister of State for Culture, Community and Youth of Singapore, Zhang Yu Jing, President of China Chamber of Commerce for Import and Export of Machinery and Electronic Products."/>With two decades of global expansion, CHINT's business network now covers more than 140 countries and regions worldwide in areas of low-voltage, power transmission and distribution, water, gas and electricity metering, green energy like solar and more. Last year, CHINT Global established its APAC Headquarters in&nbsp;Singapore. The company has since been working with the&nbsp;Singapore&nbsp;government such as in the SolarNova program led by the Housing Development Board and the Economic Development Board to enable HDB flats to adopt solar photovoltaic systems.At the China Mechanical and Electrical Exhibition 2023 event held in&nbsp;Singapore&nbsp;from 22 to 24 March, CHINT shared with the industry stakeholders about how their company can partner CHINT to better prepare for the government's green initiatives using environmentally friendly power distribution solutions and highlighted the importance of safe and reliable transmission of electricity with the use of right products such as Low-voltage protection solutions. CHINT also showcased their leading-edge products including their Renewable Energy Solutions, Smart City Solutions, Environmental &amp; Intelligent Substation Solutions, Data Center Solutions and Building Power Distribution Solutions.Johnson Luu, Director at CHINT APAC shared at the event about intelligent manufacturing. "Intelligent manufacturing plays a crucial role in supporting the accelerated pace of digitalization. The speed of production and implementation, and the use of superior quality smart energy products, work together in meeting the accelerated demand for power-to-plug solutions. Today, CHINT is one of the largest producer of circuit breakers - producing up to 3 million circuit breakers daily to serve the needs of the world. We have built the factory of the future, and we will continue to improve the structure of energy production and consumption. We will push the boundaries of innovation to grow our intelligent manufacturing expertise, grow in tandem with technological advances, and work towards building zero carbon factories", says Johnson.Er.&nbsp;Lim Say Leong, Technical Director of CHINT Global and Sunlight Electrical and a former IEC Ambassador with 40 years of experience in the electrical engineering industry also shared at the event that "to optimize energy consumption and increase reliability, one-size-fits-all smart energy solutions are few. Customization is paramount, and it has become a common demand of companies. Today, smart energy solutions must be tailored to the needs of businesses and integrated seamlessly with existing systems. They should be designed with scalability in mind, especially in this era of digitalization, to allow for future expansion as the energy demand continues to grow. By doing so, we can pave the way for reliability, minimizing downtime, and ways to generate greater efficiency and cost savings over the long term."CHINT's&nbsp;400m2&nbsp;Asia Pacific Innovation Lab is now the go-to platform for businesses, governments, academics, and communities in the APAC region to experience live demonstrations and simulations of proof-of-concept. Through this lab, customers can explore and experience CHINT's leading-edge solutions with smart energy technologies that are applicable for functions including the built environment, data centers, the industrial sector, and smart cities. The lab is a platform for customers to understand how smart energy solutions can be customized to their needs, integrated to their existing systems, and designed to meet with their technical specification requirements – while addressing industry challenges such as Remote Factory Acceptance Testing.Interested parties who are keen on future collaborations can schedule a visit to CHINT's Innovation Lab via&nbsp;<a href="mailto:sales.apac@chint.com" target="_blank" rel="nofollow">sales.apac@chint.com</a>.About CHINT GlobalFounded in 1984, CHINT's business across smart electric, green energy, industrial control and automation, smart building, and many others, form a full industry chain advantage encapsulating "electricity". CHINT has operations in more than 140 countries and regions, with a revenue of nearly&nbsp;USD16.1 billion&nbsp;in 2021.Source: CHINT

CHINT shares Expert Viewpoints about the Smart Energy Industry at the China Mechanical and Electrical Exhibition 2023 event

Singapore EXPO, the country's largest purpose-built MICE facility, is taking firm strides towards achieving Net Zero by 2024 with the largest single-site solar rooftop installation in&nbsp;Singapore, as well as the development of the largest electric vehicle charging hub in the eastern part of&nbsp;Singapore. The projects are a significant boost to the venue's sustainability infrastructure and will enable it to become&nbsp;Asia's&nbsp;first MICE venue running on clean energy. Singapore EXPO is managed by Constellar.

With over 17,000 photovoltaic panels installed on the rooftops of 10 exhibition halls and convention wing, Singapore EXPO would be the country's largest single-site solar panel installation at a total estimated size of about 6.5 football fields. In a Singaporean context, the energy generated from these panels can power 4,000 units of HDB 3-room flats (at 68 square metres per flat) for a year. The installation is expected to be completed in&nbsp;October 2023&nbsp;and once completed, it will replace conventional energy consumption at Singapore EXPO with renewable energy.

As events and communities return to Singapore EXPO, the venue is also enabling a more sustainable way to travel. Shell will be installing 20 Shell Recharge electric vehicle charging points at Singapore EXPO's carparks, making this the largest charging hub in the eastern part of&nbsp;Singapore. 20 drivers can charge at any single point of time while attending events or enjoying the F&amp;B offerings at Singapore EXPO.

Sustainability has been a continuous journey for Singapore EXPO since 2012 when its meetings and convention wing became the first MICE venue in&nbsp;Singapore&nbsp;to receive the BCA Green Mark Platinum Award. It has accelerated its efforts in the past year as sustainability considerations from travel, meeting and event professionals have grown in importance towards their selection of service providers including venues.

Last year Constellar pledged its commitment to the 'Net Zero Carbon Events" initiative by the Joint Meetings Industry Council (JMIC) and also joined the&nbsp;<a href="https://www.stb.gov.sg/content/stb/en/media-centre/media-releases/Singapore-Tourism-Board-inks-three-new-partnerships-to-boost-MICE-recovery-and-sustainability.html.html" target="_blank" rel="nofollow">Global MICE Sustainability Alliance</a>&nbsp;to explore solutions for green events, develop relevant MICE sustainability standards and accelerate adoption of green practices. As part of the Alliance's efforts, Constellar will also be piloting waste measurement methodologies at BuildTech Asia, a Constellar event, from&nbsp;28-30 March 2023, as well as Food &amp; Hotel Asia 2024. Both events will be held at Singapore EXPO.

Adding on to the earlier BCA Green Mark Platinum Award for the meetings and conventions wing, Singapore EXPO has also just been awarded the same award for the ten exhibition halls in&nbsp;February 2023. Other initiatives that Singapore EXPO is also embarking on include implementing urban farming on the rooftop of the convention wing by&nbsp;October 2023. The latter complements the venue's current food waste management initiatives, as well as the operation of a food digestor at Timbre+ food park to turn food waste into water that can be discharged into the public sewage system and thus reducing carbon footprint from transporting the food waste for disposal.

Mr&nbsp;Chua Wee Phong, Chief Executive (Venues), Constellar, said: "We are proud to support&nbsp;Singapore's&nbsp;vision to become&nbsp;Asia Pacific's&nbsp;leading sustainable MICE destination by 2030. It's important to invest in both our physical infrastructure as well as develop the necessary skillsets in our people in our journey to Net Zero, so that we can create a strong foundation to build, sustain and scale our sustainability initiatives. Education is a focus area this year as we learn and share about industry standards and reporting with our eco-system of communities including event organisers. We want to support them in their sustainability journey, and to create impact with scale."

Doong Shiwen, General Manager of Shell Mobility Singapore, said, "We are glad to partner with Singapore Expo in their sustainability journey. We want to deliver more and cleaner energy solutions, and electric mobility is one of the solutions that can meet the growing demand for transport in a lower-carbon world. With the largest EV charging hub in the eastern part of&nbsp;Singapore, we are extending Shell Recharge to more customers and hope to encourage even more drivers to embrace EVs."

Media Assets for Download:&nbsp;<a href="https://ter.li/r8yxhc" target="_blank" rel="nofollow">https://ter.li/r8yxhc</a>

Constellar connects a global eco-system of event partners and consumers through a holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and Exhibitions (MICE) industry. As&nbsp;Asia's&nbsp;partner of reference for curating innovative event and venue experiences, Constellar activates impactful networks to bring global markets, businesses and consumers together for sustainable growth. With our expertise and dedication, we are invested in helping you build trusted relationships with stakeholders for the long term and enabling cross-industry collaboration through world-class audience engagement solutions. Visit&nbsp;<a href="https://constellar.co/" target="_blank" rel="nofollow">constellar.co</a>&nbsp;for more information.

<h1>Singapore EXPO on a mission to achieve Net Zero by 2024</h1>Singapore EXPO, the country's largest purpose-built MICE facility, is taking firm strides towards achieving Net Zero by 2024 with the largest single-site solar rooftop installation in&nbsp;Singapore, as well as the development of the largest electric vehicle charging hub in the eastern part of&nbsp;Singapore. The projects are a significant boost to the venue's sustainability infrastructure and will enable it to become&nbsp;Asia's&nbsp;first MICE venue running on clean energy. Singapore EXPO is managed by Constellar.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/Solar_Panel_Installation_At_EXPO_3.jpg" alt="Image"/>With over 17,000 photovoltaic panels installed on the rooftops of 10 exhibition halls and convention wing, Singapore EXPO would be the country's largest single-site solar panel installation at a total estimated size of about 6.5 football fields. In a Singaporean context, the energy generated from these panels can power 4,000 units of HDB 3-room flats (at 68 square metres per flat) for a year. The installation is expected to be completed in&nbsp;October 2023&nbsp;and once completed, it will replace conventional energy consumption at Singapore EXPO with renewable energy.As events and communities return to Singapore EXPO, the venue is also enabling a more sustainable way to travel. Shell will be installing 20 Shell Recharge electric vehicle charging points at Singapore EXPO's carparks, making this the largest charging hub in the eastern part of&nbsp;Singapore. 20 drivers can charge at any single point of time while attending events or enjoying the F&amp;B offerings at Singapore EXPO.Sustainability has been a continuous journey for Singapore EXPO since 2012 when its meetings and convention wing became the first MICE venue in&nbsp;Singapore&nbsp;to receive the BCA Green Mark Platinum Award. It has accelerated its efforts in the past year as sustainability considerations from travel, meeting and event professionals have grown in importance towards their selection of service providers including venues.Last year Constellar pledged its commitment to the 'Net Zero Carbon Events" initiative by the Joint Meetings Industry Council (JMIC) and also joined the&nbsp;<a href="https://www.stb.gov.sg/content/stb/en/media-centre/media-releases/Singapore-Tourism-Board-inks-three-new-partnerships-to-boost-MICE-recovery-and-sustainability.html.html" target="_blank" rel="nofollow">Global MICE Sustainability Alliance</a>&nbsp;to explore solutions for green events, develop relevant MICE sustainability standards and accelerate adoption of green practices. As part of the Alliance's efforts, Constellar will also be piloting waste measurement methodologies at BuildTech Asia, a Constellar event, from&nbsp;28-30 March 2023, as well as Food &amp; Hotel Asia 2024. Both events will be held at Singapore EXPO.Adding on to the earlier BCA Green Mark Platinum Award for the meetings and conventions wing, Singapore EXPO has also just been awarded the same award for the ten exhibition halls in&nbsp;February 2023. Other initiatives that Singapore EXPO is also embarking on include implementing urban farming on the rooftop of the convention wing by&nbsp;October 2023. The latter complements the venue's current food waste management initiatives, as well as the operation of a food digestor at Timbre+ food park to turn food waste into water that can be discharged into the public sewage system and thus reducing carbon footprint from transporting the food waste for disposal.Mr&nbsp;Chua Wee Phong, Chief Executive (Venues), Constellar, said: "We are proud to support&nbsp;Singapore's&nbsp;vision to become&nbsp;Asia Pacific's&nbsp;leading sustainable MICE destination by 2030. It's important to invest in both our physical infrastructure as well as develop the necessary skillsets in our people in our journey to Net Zero, so that we can create a strong foundation to build, sustain and scale our sustainability initiatives. Education is a focus area this year as we learn and share about industry standards and reporting with our eco-system of communities including event organisers. We want to support them in their sustainability journey, and to create impact with scale."Doong Shiwen, General Manager of Shell Mobility Singapore, said, "We are glad to partner with Singapore Expo in their sustainability journey. We want to deliver more and cleaner energy solutions, and electric mobility is one of the solutions that can meet the growing demand for transport in a lower-carbon world. With the largest EV charging hub in the eastern part of&nbsp;Singapore, we are extending Shell Recharge to more customers and hope to encourage even more drivers to embrace EVs."Media Assets for Download:&nbsp;<a href="https://ter.li/r8yxhc" target="_blank" rel="nofollow">https://ter.li/r8yxhc</a>Please credit all images to "Constellar"About ConstellarConstellar connects a global eco-system of event partners and consumers through a holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and Exhibitions (MICE) industry. As&nbsp;Asia's&nbsp;partner of reference for curating innovative event and venue experiences, Constellar activates impactful networks to bring global markets, businesses and consumers together for sustainable growth. With our expertise and dedication, we are invested in helping you build trusted relationships with stakeholders for the long term and enabling cross-industry collaboration through world-class audience engagement solutions. Visit&nbsp;<a href="https://constellar.co/" target="_blank" rel="nofollow">constellar.co</a>&nbsp;for more information.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/EV_charging_at_Singapore_EXPO_1.jpg" alt="Image"/>

Construction / Civil engineering

Real Estate / Architecture / Construction

Singapore EXPO on a mission to achieve Net Zero by 2024

China Yuchai International Limited&nbsp;(NYSE: CYD)&nbsp;("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in&nbsp;China&nbsp;through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), wishes to announce today its unaudited consolidated financial results for the 2022 second half-year ("2H 2022") and fiscal year ("FY 2022") ended&nbsp;December 31, 2022. &nbsp;The financial information presented herein for the second half year and fiscal year of 2022 and the second half year ("2H 2021") and fiscal year ("FY 2021") ended&nbsp;December 31, 2021&nbsp;is reported using the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.&nbsp;

Revenue wasRMB 7.5 billion(US$ 1.1 billion) compared withRMB 8.6 billionin 2H 2021;Gross profit wasRMB 1.3 billion(US$ 182.4 million) compared withRMB 1.3 billionin 2H 2021. Gross margin was 17.0% in 2H 2022 compared with 15.4% in 2H 2021;Operating profit grew by 41.2% toRMB 231.3 million(US$ 33.2 million) compared withRMB 163.8 millionin 2H 2021;Basic and diluted earnings per share increased by 565.2% toRMB 3.06(US$ 0.44)compared withRMB 0.46in 2H 2021;Total number of engines sold decreased by 18.1% to 140,345 units compared with 171,449 units in 2H 2021.

Revenue was&nbsp;RMB 7.5 billion&nbsp;(US$ 1.1 billion) compared with&nbsp;RMB 8.6 billion&nbsp;in 2H 2021.

The total number of engines sold by GYMCL in 2H 2022 declined by 18.1% to 140,345 units compared with 171,449 units in 2H 2021. The decrease was mainly due to lower engine sales in the truck, bus, marine and power generation application markets, partially offset by higher sales in agricultural and industrial engines. &nbsp;

According to data reported by the China Association of Automobile Manufacturers ("CAAM"), in 2H 2022, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 26.3% compared to 2H 2021, as sales of trucks and buses declined by 27.5% and 18.4% respectively, reflecting weak demand in these market segments.&nbsp;

Gross profit was&nbsp;RMB 1.3 billion&nbsp;(US$ 182.4 million), compared with the same amount of&nbsp;RMB 1.3 billion&nbsp;in 2H 2021. Gross margin increased to 17.0% as compared with 15.4% in 2H 2021. &nbsp;The increase in gross margin was mainly attributable to a change in revenue mix with an increase in off-road segment over the on-road segment, cost reductions, and lower sales rebates.

Other operating income increased by 22.9% to&nbsp;RMB 251.3 million&nbsp;(US$ 36.1 million) compared with&nbsp;RMB 204.5 million&nbsp;in 2H 2021. The increase was mainly due to higher government grants.

Research and development ("R&amp;D") expenses decreased by 19.7% to&nbsp;RMB 428.0 million&nbsp;(US$ 61.4 million) compared with&nbsp;RMB 533.1 million&nbsp;in 2H 2021 due to lower R&amp;D expenses incurred in commercial vehicle engines that were partially offset by higher R&amp;D expenses incurred in marine engines and power generation engines and new energy products. Total R&amp;D expenditures, including capitalized costs, were&nbsp;RMB 540.8 million&nbsp;(US$ 77.6 million) representing 7.3% of revenue in 2H 2022, as compared to&nbsp;RMB 712.2 million&nbsp;representing 8.3% of revenue in 2H 2021.

Selling, general and administrative ("SG&amp;A") expenses increased slightly to&nbsp;RMB 862.1 million&nbsp;(US$ 123.8 million) from&nbsp;RMB 835.9 million&nbsp;in 2H 2021. &nbsp;The increase was mainly due to increased warranty expenses compared with the same period last year. SG&amp;A expenses represented 11.6% of revenue for 2H 2022 compared with 9.7% in 2H 2021.

Operating profit rose by 41.2% to&nbsp;RMB 231.3 million&nbsp;(US$ 33.2 million) from&nbsp;RMB 163.8 million&nbsp;in 2H 2021. The operating margin was 3.1% compared with 1.9% in 2H 2021.

Finance costs declined by 15.3% to&nbsp;RMB 40.2 million&nbsp;(US$ 5.8 million) from&nbsp;RMB 47.5 million&nbsp;in 2H 2021. &nbsp;

The share of financial results of the associates and joint ventures was a profit of&nbsp;RMB 1.8 million&nbsp;(US$ 0.3 million) compared with a loss of&nbsp;RMB 108.4 million&nbsp;in 2H 2021. &nbsp;This gain was largely due to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd.

Income tax expense was&nbsp;RMB 2.6 million&nbsp;(US$ 0.4 million) as compared with an income tax credit of&nbsp;RMB 42.4 million&nbsp;in 2H 2021. The change was mainly due to the higher taxable income in 2H 2022.

Net profit attributable to equity holders of the Company was&nbsp;RMB 124.9&nbsp;million (US$ 17.9 million) compared with&nbsp;RMB 19.0&nbsp;million in 2H 2021.

Basic and diluted earnings per share were&nbsp;RMB 3.06&nbsp;(US$ 0.44)&nbsp;compared with&nbsp;RMB 0.46&nbsp;in 2H 2021.

Basic and diluted earnings per share for 2H 2022 and 2H 2021 were based on a weighted average of 40,858,290 shares.&nbsp;

Financial Highlights for FY 2022&nbsp;

Revenue decreased toRMB 16.0 billion(US$ 2.3 billion) compared withRMB 21.3 billionin FY 2021;Gross profit wasRMB 2.6 billion(US$ 377.7 million), a 16.4% gross margin, compared withRMB 3.0 billionand a gross margin of 13.9% in FY 2021;Operating profit wasRMB 519.3 million(US$ 74.6 million) compared withRMB 663.5 millionin FY 2021;Basic and diluted earnings per share wereRMB 5.35(US$ 0.77)compared withRMB 6.67in FY 2021;Total number of engines sold decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021.

Revenue was&nbsp;RMB 16.0 billion&nbsp;(US$ 2.3 billion) compared with&nbsp;RMB 21.3 billion&nbsp;in FY 2021.

The total number of engines sold by GYMCL in FY 2022 decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021. The decrease was mainly due to weakness in the truck and bus markets, and the markets of marine and power generation engines.&nbsp;

According to CAAM, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 41.4% in FY 2022, as sales of trucks declined by 42.9% while sales of buses decreased by 27.1%. The impact of COVID-19 restrictions and related supply chain disruptions impacted market conditions in&nbsp;China&nbsp;and in foreign markets.

Gross profit decreased by 10.9% to&nbsp;RMB 2.6 billion&nbsp;(US$ 377.7 million) compared with&nbsp;RMB 3.0 billion&nbsp;in FY 2021.&nbsp; Gross margin increased to 16.4% compared with 13.9% in FY 2021.&nbsp; The increase in gross margin was mainly attributable to a change in revenue mix with higher off-road revenue as a greater proportion of the total revenue, and lower sales rebates.

Other operating income increased by 6.5% to&nbsp;RMB 336.8 million&nbsp;(US$ 48.4 million) compared with&nbsp;RMB 316.2 million&nbsp;in FY 2021. The increase was mainly due to higher government grants.&nbsp;

R&amp;D expenses decreased by 1.5% to&nbsp;RMB 836.4 million&nbsp;(US$ 120.1 million) compared with&nbsp;RMB 848.8 million&nbsp;in FY 2021. GYMCL continued with its initiatives to improve engine performances and the qualities of its engines compliant with&nbsp;China's&nbsp;National VI and Tier 4 emission standards, and to develop new energy products.&nbsp; In FY 2022, total R&amp;D expenditures including capitalized costs were&nbsp;RMB 1.0 billion&nbsp;(US$ 146.1 million) compared with&nbsp;RMB 1.2 billion&nbsp;in FY 2021, representing 6.4% of the revenue compared with 5.5% in FY 2021.&nbsp;

SG&amp;A expenses were&nbsp;RMB 1.6 billion&nbsp;(US$ 231.4 million) representing 10.1% of the revenue compared with&nbsp;RMB 1.8 billion, representing 8.3% of the revenue in FY 2021.&nbsp; This decrease was mainly due to lower freight, personnel and warranty expenses.

Operating profit was&nbsp;RMB 519.3 million&nbsp;(US$ 74.6 million), down from&nbsp;RMB 663.5 million&nbsp;in FY 2021. The operating margin was 3.2% compared with 3.1% in FY 2021.

Finance costs decreased by 17.6% to&nbsp;RMB 95.5 million&nbsp;(US$ 13.7 million) from&nbsp;RMB 115.9 million&nbsp;in FY 2021.&nbsp;

The share of financial results of the associates and joint ventures was a loss of&nbsp;RMB 29.1 million&nbsp;(US$ 4.2 million) compared with a loss of&nbsp;RMB 95.9 million&nbsp;in FY 2021. &nbsp;The decreased loss was primarily attributable to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd. &nbsp;

Income tax expense was&nbsp;RMB 59.1 million&nbsp;(US$ 8.5 million) as compared with&nbsp;RMB 43.8 million&nbsp;in FY 2021.

Net profit attributable to China Yuchai's shareholders was&nbsp;RMB 218.6 million&nbsp;(US$ 31.4 million) compared with&nbsp;RMB 272.7 million&nbsp;in FY 2021.

Basic and diluted earnings per share were&nbsp;RMB 5.35&nbsp;(US$ 0.77)&nbsp;compared with&nbsp;RMB 6.67&nbsp;in FY2021.&nbsp;

Basic and diluted earnings per share for FY 2022 and FY 2021 were based on a weighted average of 40,858,290 shares. &nbsp;&nbsp;

Balance Sheet Highlights as at&nbsp;December 31, 2022

Cash and bank balances wereRMB 4.9&nbsp;billion (US$ 696.5 million) compared withRMB 5.3&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills receivables wereRMB 6.8&nbsp;billion (US$ 975.4 million) compared withRMB 6.8&nbsp;billion at the end of &nbsp;FY 2021;Inventories wereRMB 4.9&nbsp;billion (US$ 709.0 million) compared withRMB 5.2&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills payables wereRMB 6.9&nbsp;billion (US$ 993.5 million) compared withRMB 7.4&nbsp;billion at the end of FY 2021;Short-term and long-term bank borrowings wereRMB 2.3&nbsp;billion (US$ 336.2 million) compared withRMB 2.2&nbsp;billion at the end of FY 2021. &nbsp;

Mr.&nbsp;Weng Ming Hoh, President of China Yuchai, commented, "Our results once again demonstrated the strong resilience of our businesses in selling into diversified engine markets."&nbsp;&nbsp;

"Market demand for trucks and buses was down significantly in the second half and for the full year of 2022.&nbsp; Chinese economic growth was weak in 2022 and investment in the property markets declined affecting demand for trucks.&nbsp; In addition, slower global economic growth also affected Chinese exports. &nbsp;The COVID-19 pandemic-related lockdowns and travel restrictions impacted the supply chain and affected commercial vehicle production in 2022."

"However, many COVID-19 restrictions have recently been rescinded creating more opportunities for growth in the future.&nbsp; We continued to maintain a strong balance sheet despite the weak operating environment," Mr. Hoh concluded.

Disclaimer Regarding Unaudited Financial Results&nbsp;

Investors should note that the Company has not yet finalized its consolidated financial results for FY 2022. &nbsp;The financial information of the Company presented above is unaudited and may differ materially from the audited financial statements of the Company for FY 2022 to be released when it is available.&nbsp;

The Company's functional currency is the U.S. dollar and its reporting currency is Renminbi. The translation of amounts from Renminbi to U.S. dollars is solely for the convenience of the reader. Translation of amounts from Renminbi to U.S. dollars has been made at the rate of&nbsp;RMB 6.9646&nbsp;=&nbsp;US$1.00, the rate quoted by the People's Bank of&nbsp;China&nbsp;at the close of business on&nbsp;December 31, 2022. &nbsp;No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate or at any other certain rate on&nbsp;December 31, 2022&nbsp;or at any other date.

Unaudited 2H 2022 and FY 2022 Conference Call

A conference call and audio webcast for the investment community has been scheduled for&nbsp;8:00 A.M. Eastern Standard Time&nbsp;on&nbsp;February 23, 2022. The call will be hosted by the President and Chief Financial Officer of China Yuchai, Mr.&nbsp;Weng Ming Hoh&nbsp;and Mr.&nbsp;Choon Sen Loo&nbsp;respectively, who will present and discuss the financial results and business outlook of the Company followed with a Q&amp;A session.

Analysts and institutional investors may participate in the conference call by registering at:&nbsp;<a href="https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45" target="_blank" rel="nofollow">https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45</a>&nbsp;at least one hour before the scheduled start time.&nbsp; A return email will be sent with instructions and numbers to join the call.

For all other interested parties, a simultaneous webcast can be accessed at the investor relations section of the Company's website located at&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>. Participants are encouraged to join the webcast at least 10 minutes prior to the scheduled start time. The recorded webcast will be available on the website shortly after the earnings call.

China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China.&nbsp; GYMCL also produces diesel power generators.&nbsp; The engines produced by GYMCL range from diesel to natural gas and hybrid engines.&nbsp; Through its regional sales offices and authorized customer service centers, GYMCL distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China.&nbsp; Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support.&nbsp; In 2022, GYMCL sold 321,256 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.

This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning China Yuchai's and the joint venture's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in&nbsp;China&nbsp;including those discussed in&nbsp;China&nbsp;Yuchai's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in&nbsp;China&nbsp;and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date it is made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

<h1>China Yuchai International Announces Unaudited 2022 Second Half-Year and Full Year Financial Results</h1>China Yuchai International Limited&nbsp;(NYSE: CYD)&nbsp;("China Yuchai" or the "Company"), a leading manufacturer and distributor of engines for on- and off-road applications in&nbsp;China&nbsp;through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), wishes to announce today its unaudited consolidated financial results for the 2022 second half-year ("2H 2022") and fiscal year ("FY 2022") ended&nbsp;December 31, 2022. &nbsp;The financial information presented herein for the second half year and fiscal year of 2022 and the second half year ("2H 2021") and fiscal year ("FY 2021") ended&nbsp;December 31, 2021&nbsp;is reported using the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.&nbsp;Financial Highlights for 2H 2022Revenue wasRMB 7.5 billion(US$ 1.1 billion) compared withRMB 8.6 billionin 2H 2021;Gross profit wasRMB 1.3 billion(US$ 182.4 million) compared withRMB 1.3 billionin 2H 2021. Gross margin was 17.0% in 2H 2022 compared with 15.4% in 2H 2021;Operating profit grew by 41.2% toRMB 231.3 million(US$ 33.2 million) compared withRMB 163.8 millionin 2H 2021;Basic and diluted earnings per share increased by 565.2% toRMB 3.06(US$ 0.44)compared withRMB 0.46in 2H 2021;Total number of engines sold decreased by 18.1% to 140,345 units compared with 171,449 units in 2H 2021.Revenue was&nbsp;RMB 7.5 billion&nbsp;(US$ 1.1 billion) compared with&nbsp;RMB 8.6 billion&nbsp;in 2H 2021.The total number of engines sold by GYMCL in 2H 2022 declined by 18.1% to 140,345 units compared with 171,449 units in 2H 2021. The decrease was mainly due to lower engine sales in the truck, bus, marine and power generation application markets, partially offset by higher sales in agricultural and industrial engines. &nbsp;According to data reported by the China Association of Automobile Manufacturers ("CAAM"), in 2H 2022, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 26.3% compared to 2H 2021, as sales of trucks and buses declined by 27.5% and 18.4% respectively, reflecting weak demand in these market segments.&nbsp;Gross profit was&nbsp;RMB 1.3 billion&nbsp;(US$ 182.4 million), compared with the same amount of&nbsp;RMB 1.3 billion&nbsp;in 2H 2021. Gross margin increased to 17.0% as compared with 15.4% in 2H 2021. &nbsp;The increase in gross margin was mainly attributable to a change in revenue mix with an increase in off-road segment over the on-road segment, cost reductions, and lower sales rebates.Other operating income increased by 22.9% to&nbsp;RMB 251.3 million&nbsp;(US$ 36.1 million) compared with&nbsp;RMB 204.5 million&nbsp;in 2H 2021. The increase was mainly due to higher government grants.Research and development ("R&amp;D") expenses decreased by 19.7% to&nbsp;RMB 428.0 million&nbsp;(US$ 61.4 million) compared with&nbsp;RMB 533.1 million&nbsp;in 2H 2021 due to lower R&amp;D expenses incurred in commercial vehicle engines that were partially offset by higher R&amp;D expenses incurred in marine engines and power generation engines and new energy products. Total R&amp;D expenditures, including capitalized costs, were&nbsp;RMB 540.8 million&nbsp;(US$ 77.6 million) representing 7.3% of revenue in 2H 2022, as compared to&nbsp;RMB 712.2 million&nbsp;representing 8.3% of revenue in 2H 2021.Selling, general and administrative ("SG&amp;A") expenses increased slightly to&nbsp;RMB 862.1 million&nbsp;(US$ 123.8 million) from&nbsp;RMB 835.9 million&nbsp;in 2H 2021. &nbsp;The increase was mainly due to increased warranty expenses compared with the same period last year. SG&amp;A expenses represented 11.6% of revenue for 2H 2022 compared with 9.7% in 2H 2021.Operating profit rose by 41.2% to&nbsp;RMB 231.3 million&nbsp;(US$ 33.2 million) from&nbsp;RMB 163.8 million&nbsp;in 2H 2021. The operating margin was 3.1% compared with 1.9% in 2H 2021.Finance costs declined by 15.3% to&nbsp;RMB 40.2 million&nbsp;(US$ 5.8 million) from&nbsp;RMB 47.5 million&nbsp;in 2H 2021. &nbsp;The share of financial results of the associates and joint ventures was a profit of&nbsp;RMB 1.8 million&nbsp;(US$ 0.3 million) compared with a loss of&nbsp;RMB 108.4 million&nbsp;in 2H 2021. &nbsp;This gain was largely due to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd.Income tax expense was&nbsp;RMB 2.6 million&nbsp;(US$ 0.4 million) as compared with an income tax credit of&nbsp;RMB 42.4 million&nbsp;in 2H 2021. The change was mainly due to the higher taxable income in 2H 2022.Net profit attributable to equity holders of the Company was&nbsp;RMB 124.9&nbsp;million (US$ 17.9 million) compared with&nbsp;RMB 19.0&nbsp;million in 2H 2021.Basic and diluted earnings per share were&nbsp;RMB 3.06&nbsp;(US$ 0.44)&nbsp;compared with&nbsp;RMB 0.46&nbsp;in 2H 2021.Basic and diluted earnings per share for 2H 2022 and 2H 2021 were based on a weighted average of 40,858,290 shares.&nbsp;Financial Highlights for FY 2022&nbsp;Revenue decreased toRMB 16.0 billion(US$ 2.3 billion) compared withRMB 21.3 billionin FY 2021;Gross profit wasRMB 2.6 billion(US$ 377.7 million), a 16.4% gross margin, compared withRMB 3.0 billionand a gross margin of 13.9% in FY 2021;Operating profit wasRMB 519.3 million(US$ 74.6 million) compared withRMB 663.5 millionin FY 2021;Basic and diluted earnings per share wereRMB 5.35(US$ 0.77)compared withRMB 6.67in FY 2021;Total number of engines sold decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021.Revenue was&nbsp;RMB 16.0 billion&nbsp;(US$ 2.3 billion) compared with&nbsp;RMB 21.3 billion&nbsp;in FY 2021.The total number of engines sold by GYMCL in FY 2022 decreased by 29.7% to 321,256 units compared with 456,791 units in FY 2021. The decrease was mainly due to weakness in the truck and bus markets, and the markets of marine and power generation engines.&nbsp;According to CAAM, commercial vehicle unit sales (excluding sales of gasoline-powered and electric-powered vehicles) decreased by 41.4% in FY 2022, as sales of trucks declined by 42.9% while sales of buses decreased by 27.1%. The impact of COVID-19 restrictions and related supply chain disruptions impacted market conditions in&nbsp;China&nbsp;and in foreign markets.Gross profit decreased by 10.9% to&nbsp;RMB 2.6 billion&nbsp;(US$ 377.7 million) compared with&nbsp;RMB 3.0 billion&nbsp;in FY 2021.&nbsp; Gross margin increased to 16.4% compared with 13.9% in FY 2021.&nbsp; The increase in gross margin was mainly attributable to a change in revenue mix with higher off-road revenue as a greater proportion of the total revenue, and lower sales rebates.Other operating income increased by 6.5% to&nbsp;RMB 336.8 million&nbsp;(US$ 48.4 million) compared with&nbsp;RMB 316.2 million&nbsp;in FY 2021. The increase was mainly due to higher government grants.&nbsp;R&amp;D expenses decreased by 1.5% to&nbsp;RMB 836.4 million&nbsp;(US$ 120.1 million) compared with&nbsp;RMB 848.8 million&nbsp;in FY 2021. GYMCL continued with its initiatives to improve engine performances and the qualities of its engines compliant with&nbsp;China's&nbsp;National VI and Tier 4 emission standards, and to develop new energy products.&nbsp; In FY 2022, total R&amp;D expenditures including capitalized costs were&nbsp;RMB 1.0 billion&nbsp;(US$ 146.1 million) compared with&nbsp;RMB 1.2 billion&nbsp;in FY 2021, representing 6.4% of the revenue compared with 5.5% in FY 2021.&nbsp;SG&amp;A expenses were&nbsp;RMB 1.6 billion&nbsp;(US$ 231.4 million) representing 10.1% of the revenue compared with&nbsp;RMB 1.8 billion, representing 8.3% of the revenue in FY 2021.&nbsp; This decrease was mainly due to lower freight, personnel and warranty expenses.Operating profit was&nbsp;RMB 519.3 million&nbsp;(US$ 74.6 million), down from&nbsp;RMB 663.5 million&nbsp;in FY 2021. The operating margin was 3.2% compared with 3.1% in FY 2021.Finance costs decreased by 17.6% to&nbsp;RMB 95.5 million&nbsp;(US$ 13.7 million) from&nbsp;RMB 115.9 million&nbsp;in FY 2021.&nbsp;The share of financial results of the associates and joint ventures was a loss of&nbsp;RMB 29.1 million&nbsp;(US$ 4.2 million) compared with a loss of&nbsp;RMB 95.9 million&nbsp;in FY 2021. &nbsp;The decreased loss was primarily attributable to higher profit at the MTU Yuchai Power Company Limited and the share of lower losses at Y&amp;C Engine Co. Ltd. &nbsp;Income tax expense was&nbsp;RMB 59.1 million&nbsp;(US$ 8.5 million) as compared with&nbsp;RMB 43.8 million&nbsp;in FY 2021.Net profit attributable to China Yuchai's shareholders was&nbsp;RMB 218.6 million&nbsp;(US$ 31.4 million) compared with&nbsp;RMB 272.7 million&nbsp;in FY 2021.Basic and diluted earnings per share were&nbsp;RMB 5.35&nbsp;(US$ 0.77)&nbsp;compared with&nbsp;RMB 6.67&nbsp;in FY2021.&nbsp;Basic and diluted earnings per share for FY 2022 and FY 2021 were based on a weighted average of 40,858,290 shares. &nbsp;&nbsp;Balance Sheet Highlights as at&nbsp;December 31, 2022Cash and bank balances wereRMB 4.9&nbsp;billion (US$ 696.5 million) compared withRMB 5.3&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills receivables wereRMB 6.8&nbsp;billion (US$ 975.4 million) compared withRMB 6.8&nbsp;billion at the end of &nbsp;FY 2021;Inventories wereRMB 4.9&nbsp;billion (US$ 709.0 million) compared withRMB 5.2&nbsp;billion at the end of FY 2021;&nbsp;Trade and bills payables wereRMB 6.9&nbsp;billion (US$ 993.5 million) compared withRMB 7.4&nbsp;billion at the end of FY 2021;Short-term and long-term bank borrowings wereRMB 2.3&nbsp;billion (US$ 336.2 million) compared withRMB 2.2&nbsp;billion at the end of FY 2021. &nbsp;Mr.&nbsp;Weng Ming Hoh, President of China Yuchai, commented, "Our results once again demonstrated the strong resilience of our businesses in selling into diversified engine markets."&nbsp;&nbsp;"Market demand for trucks and buses was down significantly in the second half and for the full year of 2022.&nbsp; Chinese economic growth was weak in 2022 and investment in the property markets declined affecting demand for trucks.&nbsp; In addition, slower global economic growth also affected Chinese exports. &nbsp;The COVID-19 pandemic-related lockdowns and travel restrictions impacted the supply chain and affected commercial vehicle production in 2022.""However, many COVID-19 restrictions have recently been rescinded creating more opportunities for growth in the future.&nbsp; We continued to maintain a strong balance sheet despite the weak operating environment," Mr. Hoh concluded.Disclaimer Regarding Unaudited Financial Results&nbsp;Investors should note that the Company has not yet finalized its consolidated financial results for FY 2022. &nbsp;The financial information of the Company presented above is unaudited and may differ materially from the audited financial statements of the Company for FY 2022 to be released when it is available.&nbsp;Exchange Rate InformationThe Company's functional currency is the U.S. dollar and its reporting currency is Renminbi. The translation of amounts from Renminbi to U.S. dollars is solely for the convenience of the reader. Translation of amounts from Renminbi to U.S. dollars has been made at the rate of&nbsp;RMB 6.9646&nbsp;=&nbsp;US$1.00, the rate quoted by the People's Bank of&nbsp;China&nbsp;at the close of business on&nbsp;December 31, 2022. &nbsp;No representation is made that the Renminbi amounts could have been, or could be, converted into U.S. dollars at that rate or at any other certain rate on&nbsp;December 31, 2022&nbsp;or at any other date.Unaudited 2H 2022 and FY 2022 Conference CallA conference call and audio webcast for the investment community has been scheduled for&nbsp;8:00 A.M. Eastern Standard Time&nbsp;on&nbsp;February 23, 2022. The call will be hosted by the President and Chief Financial Officer of China Yuchai, Mr.&nbsp;Weng Ming Hoh&nbsp;and Mr.&nbsp;Choon Sen Loo&nbsp;respectively, who will present and discuss the financial results and business outlook of the Company followed with a Q&amp;A session.Analysts and institutional investors may participate in the conference call by registering at:&nbsp;<a href="https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45" target="_blank" rel="nofollow">https://register.vevent.com/register/BIadf79c13ba63410187ba354842c0be45</a>&nbsp;at least one hour before the scheduled start time.&nbsp; A return email will be sent with instructions and numbers to join the call.For all other interested parties, a simultaneous webcast can be accessed at the investor relations section of the Company's website located at&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>. Participants are encouraged to join the webcast at least 10 minutes prior to the scheduled start time. The recorded webcast will be available on the website shortly after the earnings call.About China Yuchai InternationalChina Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China.&nbsp; GYMCL also produces diesel power generators.&nbsp; The engines produced by GYMCL range from diesel to natural gas and hybrid engines.&nbsp; Through its regional sales offices and authorized customer service centers, GYMCL distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China.&nbsp; Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support.&nbsp; In 2022, GYMCL sold 321,256 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="https://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.Safe Harbor Statement:This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning China Yuchai's and the joint venture's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in&nbsp;China&nbsp;including those discussed in&nbsp;China&nbsp;Yuchai's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in&nbsp;China&nbsp;and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date it is made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

China Yuchai International Announces Unaudited 2022 Second Half-Year and Full Year Financial Results

China Yuchai International Limited (NYSE: CYD)&nbsp;("China Yuchai" or the "Company") wishes to announce that the Board of Directors of the Company has approved the appointment of Mr.&nbsp;Wong Hong Wai&nbsp;as a Director of China Yuchai with effect from&nbsp;March 1, 2023.&nbsp;

Mr. Wong joins the Board with over 35 years of working experience in&nbsp;China,&nbsp;Germany,&nbsp;Japan,&nbsp;Singapore,&nbsp;Switzerland&nbsp;and the United States.&nbsp;He is presently an Innovation Advisor with Innovation Partner for Impact, a subsidiary of Enterprise Singapore, and an Associate Faculty Member with the Singapore Institute of Technology.&nbsp;Prior to this, Mr. Wong was with General Motors ("GM") for 29 years and has extensive experiences in areas such as M&amp;A, new business development, strategic alliance management, sales/marketing, strategic risk management, business strategy, product portfolio planning, global procurement, and business process re-engineering. Besides operational roles, he also held governance responsibilities as a board member in several GM China&nbsp;group companies and was the shareholder representative of GM's joint venture investment holding in&nbsp;Hong Kong. Additionally, he was the Risk Officer for GM China and a member of GM's Global Risk Advisory Council which had strategic risk management oversight for all of GM's global businesses.

Prior to GM, Mr. Wong was with the Singapore Economic Development Board, responsible for investment marketing and development of several industry clusters such as aerospace, marine and oilfield equipment, process engineering and automotive component manufacturing.

Mr. Wong is a member of the Singapore Institute of Directors and a Fellow of the Singapore Institute of Arbitrators. He holds a Bachelor of Engineering (Production and Industrial Engineering) degree from the Ulm&nbsp;University of Applied Sciences&nbsp;in&nbsp;Germany&nbsp;and a Master of Business Administration from the&nbsp;National University of Singapore. He has also completed an Executive Program at the Stephen M. Ross School of Business at the&nbsp;University of Michigan, U.S.A.

The Board of Directors welcomes Mr. Wong and believes his extensive business experience and technical expertise will contribute to the future success of the Company. With the new appointment, the Board now comprises 10 members of which three are independent directors.

<h1>China Yuchai Appoints New Director</h1>China Yuchai International Limited (NYSE: CYD)&nbsp;("China Yuchai" or the "Company") wishes to announce that the Board of Directors of the Company has approved the appointment of Mr.&nbsp;Wong Hong Wai&nbsp;as a Director of China Yuchai with effect from&nbsp;March 1, 2023.&nbsp;Mr. Wong joins the Board with over 35 years of working experience in&nbsp;China,&nbsp;Germany,&nbsp;Japan,&nbsp;Singapore,&nbsp;Switzerland&nbsp;and the United States.&nbsp;He is presently an Innovation Advisor with Innovation Partner for Impact, a subsidiary of Enterprise Singapore, and an Associate Faculty Member with the Singapore Institute of Technology.&nbsp;Prior to this, Mr. Wong was with General Motors ("GM") for 29 years and has extensive experiences in areas such as M&amp;A, new business development, strategic alliance management, sales/marketing, strategic risk management, business strategy, product portfolio planning, global procurement, and business process re-engineering. Besides operational roles, he also held governance responsibilities as a board member in several GM China&nbsp;group companies and was the shareholder representative of GM's joint venture investment holding in&nbsp;Hong Kong. Additionally, he was the Risk Officer for GM China and a member of GM's Global Risk Advisory Council which had strategic risk management oversight for all of GM's global businesses.Prior to GM, Mr. Wong was with the Singapore Economic Development Board, responsible for investment marketing and development of several industry clusters such as aerospace, marine and oilfield equipment, process engineering and automotive component manufacturing.Mr. Wong is a member of the Singapore Institute of Directors and a Fellow of the Singapore Institute of Arbitrators. He holds a Bachelor of Engineering (Production and Industrial Engineering) degree from the Ulm&nbsp;University of Applied Sciences&nbsp;in&nbsp;Germany&nbsp;and a Master of Business Administration from the&nbsp;National University of Singapore. He has also completed an Executive Program at the Stephen M. Ross School of Business at the&nbsp;University of Michigan, U.S.A.The Board of Directors welcomes Mr. Wong and believes his extensive business experience and technical expertise will contribute to the future success of the Company. With the new appointment, the Board now comprises 10 members of which three are independent directors.About China Yuchai InternationalChina Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in&nbsp;China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, GYMCL distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout&nbsp;China. Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in&nbsp;China&nbsp;with high-quality products and reliable after-sales support. In 2021, GYMCL sold 456,791 engines and is recognized as a leading manufacturer and distributor of engines in&nbsp;China. For more information, please visit&nbsp;<a href="http://www.cyilimited.com/" target="_blank" rel="nofollow">http://www.cyilimited.com</a>.Safe Harbor Statement:This news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe", "expect", "anticipate", "project", "targets", "optimistic", "confident that", "continue to", "predict", "intend", "aim", "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning China Yuchai's and the joint venture's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world and in&nbsp;China&nbsp;including those discussed in&nbsp;China&nbsp;Yuchai's Form 20-Fs under the headings "Risk Factors", "Results of Operations" and "Business Overview" and other reports filed with the Securities and Exchange Commission from time to time. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in&nbsp;China&nbsp;and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date it is made and China Yuchai specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.For more information:Investor RelationsKevin TheissTel: +1-212-521-4050Email:&nbsp;<a href="mailto:cyd@bluefocus.com" target="_blank" rel="nofollow">cyd@bluefocus.com</a>