Bus iness Overvi ew Sect ion 01 15 Annual Report 2022 Likewise, with climate change, global warming and other physical effects, it is imperative that the world transitions to alternative sources for energy, beyond hydrocarbons. Through its Energy and Engineering Services sector, Ranhill is designing and building as well as promoting the use of solar, hydro, geothermal and other renewable energy (“RE”) options to reshape Malaysia and the region’s future energy mix. However, even as the world transitions to RE, certain hydrocarbons will remain integral to meeting global energy needs in the interim. Ranhill’s Combined Cycle Gas Turbine (“CCGT”) based power plants provide a viable solutions as a significantly cleaner form of carbon based energy generation. OUR APPROACH TO VALUE CREAT ION The Group’s Engineering Services sectors continues to provide solutions of new technologies such as Carbon Capture Storage (“CCS”) and Carbon Capture Usage Storage (“CCUS”), design and build of RE facilities as well as flood mitigation projects. Other projects include designing of hospitals towards meeting society’s increasing need for affordable, yet quality healthcare. These projects alone have generated the Group’s Engineering Services sector growing revenues and an expanding order book on the back of contracts secured in FY2022. In essence, Ranhill’s business model continues to integrate both financial and non-financial value creation perspectives that are akin to a virtuous cycle, mutually dependent and mutually supporting each other, which ultimately create positive outputs and outcomes over a multiple capitals perspective.
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