This year as we celebrate our 70th anniversary since the late Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay founded YTL Corporation (YTL Corp) in 1955, we also take great pride in publishing our 20th sustainability report, and our 19th standalone edition. We have reaffirmed our unwavering commitment to the aspirations, goals and roadmaps already put in place by YTL Group companies. This is despite intensifying global geopolitical headwinds, shifting stakeholder dynamics and the growing polarisation around sustainability. We remain aligned with the promise of being good stewards of the Earth, serving the environment, communities and our other key stakeholders.
As testament to this commitment, I am pleased to report that YTL Group now has four entities included in the FTSE4Good Bursa Malaysia Index. YTL Corp has been included for the ninth consecutive year as a constituent. YTL Power International (YTLPI), YTL Hospitality REIT (YTL REIT) and the recently acquired subsidiary of YTLPI, Ranhill Utilities, are also constituents.
TAN SRI (SIR) YEOH SOCK PING
PSM, KBE
Executive Chairman
YTL Corporation Berhad
Environmental Costs, Risks & YTL’s Initiatives
There is a hidden and indirect cost every time a forest is cleared, a wetland is drained, or a seagrass meadow destroyed. Habitat destruction and pesticide overuse are decimating species, resulting in lower yields, higher prices and even greater investment required to feed a growing population. As we damage our natural environment, we lose the natural defences and benefits that it provides. Whilst the United Nations International Court of Justice advisory opinion delivered in July 2025 states that countries are legally responsible for protecting the climate and preventing harm from climate change, it carries more political weight than the ability to take enforceable action. It is nevertheless another important milestone in the recognition of the value of the natural environment. The ruling is expected to give potency to climate litigation and stimulate more ambitious policies to protect the planet and communities at risk. It should also serve to protect carbon sinks as forest loss around the world continues almost unabated. Some sobering statistics released by the World Resources Institute shows the extent of this loss and the causes in 2024.
Against this backdrop, our initiatives to mitigate environmental impacts are all the more critical. Managing environmental risks remains one of the principal goals for the Group and a central pillar within our overall sustainability strategy.
YTLPI has commenced development of a solar power facility with a generation capacity of up to 500 MW in Johor, Malaysia to co-power the YTL Green Data Center Park. In Singapore, YTL PowerSeraya broke ground on its 600 MW hydrogen-ready power plant on Jurong Island.
Over the past year, renewable energy generated by the YTL UK Group amounted to 20 GWh of electricity and 77 GWh of biomethane. In Singapore, YTL PowerSeraya completed the construction of an additional 4 MWp solar photovoltaic system, which cost over SGD5 million, at the Pulau Seraya Power Station with some of the additional capacity installed over the 600-meter-long outlet cooling canal. This brings the solar capacity for YTL PowerSeraya to a total of 5 MWp. The recently acquired subsidiary of YTLPI, Ranhill Utilities, continued with its strong commitment to reducing non-revenue water (NRW) in Johor. Wessex Water has also reduced the overall leakage rate, and published a Water Resources Management Plan to ensure adequate water supply for the next 25 years. In addition, to mitigate sewer flooding, Wessex Water invested GBP200 million between 2020 and 2025. Between 2025 and 2030, Wessex Water plans to more than double the current level of investment to GBP8 million a month, amounting to a total of GBP500 million, and will prioritise overflows that could affect bathing waters, shellfish waters, chalk streams and designated environmental sites.
Wessex Water’s operations are in a region with significant biodiversity, and the company has a Biodiversity Action Plan to conserve and enhance it. Meanwhile, the Brabazon development in Bristol includes Brabazon Park, designed to support local wildlife and biodiversity. Biodiversity initiatives in Malaysia have also been ongoing with Malayan Cement Berhad’s (MCB) establishment of the University-Industry Research Centre (UIRC) with the Ministry of Higher Education to advance research on tropical karst landscapes.
In other environmental initiatives focusing on decarbonisation and resource use, MCB has continued to make progress during the year under review. This is a meaningful year as it marks 200 years since the patent for Portland cement was granted to Joseph Aspdin, a bricklayer and inventor from Leeds, UK. YTL entered the ready-mix concrete operations in the early 1980s with the establishment of BuildCon Ready-Mix Concrete Private Limited and expanded further into the sector in 1997 with the incorporation of YTL Cement Berhad, following the integration of BuildCon with the Pahang Cement plant, which became operational in 1998.
During the reporting year, MCB reduced their Scope 1 GHG emissions intensity for cement operations from 654 kg CO₂/ton cementitious product to 632 kg CO₂/ton, primarily due to improved fuel efficiency. This improvement reflects a reduction in specific heat consumption, meaning less fuel was required per ton of product produced.
YTL’s Workplace, Community, Education & Marketplace Initiatives
Businesses are a major agent for social change, and we must continue to champion these drivers regardless of the erosion of core values, altered trajectories and the politicisation of the sustainability movement. We have continued to extend the breadth and depth of our workplace initiatives and community engagement throughout all of our business units and have further extended the education related programmes undertaken by YTL Foundation. It appears that whilst the narrative around responsible practices in the workplace has evolved somewhat to deal with challenges and pressures, we remained committed to our mission of Building The Right Thing and doing it responsibly.
During the year under review, Wessex Water supported more than 70,000 customers with their bills and debt, and where possible, auto-enrolling them onto appropriate schemes. Similarly, Ranhill Group provided rebates amounting to MYR870,000 for water bills to 2,748 poor and hardcore poor households across Johor through its E-Kasih Water Rebate Programme.
To mark World Environment Day and support the global #BeatPlasticPollution movement, YTL PowerSeraya joined the Go Green SG campaign led by Singapore’s Ministry of Sustainability and the Environment. In collaboration with Kinderland International Education, SMRT Corporation and Lions Befrienders, the company contributed to creating Singapore’s largest mural made entirely from discarded plastic toys. YTL PowerSeraya partnered with local universities and polytechnics to offer 34 internships and participated in the Singapore Industry Scholarship Scheme.
In MCB, education and industry engagement remain essential to advancing ESG adoption. In partnership with The Edge Malaysia, they continue to support The Edge Sustainable Construction Symposium to encourage cross-sector dialogue and collaboration. In addition, their recent collaboration with Sin Chew Daily led to the launch of the ECO Excellence Series, which shines a light on exemplary developers and contractors in ESG, encouraging others to follow suit. Through the Construction Development Lab (CDL) Academy, they have participated in and supported over 100 training and knowledge-sharing sessions since 2019, reaching more than 10,000 participants. In addition, through their Masterclass Series, they have been working with local and international universities across East and West Malaysia, running seminars and workshops for engineering and architecture students to enhance their learning experience with real-world industry insights. MCB also launched the UIRC, which offers scholarships to postgraduate students to study tropical limestone karst landscapes in the country. Under the same initiative, YTL Cement introduced the UIRC Industrial Grant for Young Researchers, designed to support early-career lecturers from participating universities in advancing research on tropical limestone karst sustainability.
YTL Construction’s initiative, Santun Komuniti YTL, has been working hard to establish strong, mutually respectful relationships with the local community, with a focus on public engagement, CSR and education initiatives. Since 2018, they have launched over55 CSR programmes, positively impacting over 32,000 individuals in Johor, Kuala Lumpur and Selangor. YTL Construction’s SIPP–YTL JV, in partnership with the Kluang Municipal Council, Railway Asset Corporation (RAC) and Think City, developed the 2.9 km Kluang Heritage Linear Park Laman Rel Mahkota under the Gemas-Johor Bahru Electrified Double Track Project (GJBEDTP). Officially opened on 25 August 2025, the park breathes new life into Kluang and stands as a lasting gift for the community, celebrating heritage, culture and sustainable urban living.
YTL Foundation’s has also continued to extend its reach, with its KelasKita programme nurturing brighter futures with its community partners. As of June 2025, the programme had reached 1,500 students and 800 volunteers across Malaysia. It has also expanded into new states such as Sabah and formed new partnerships. Leaps Academy is dedicated to improving the lives of underserved children from the B40 and displaced communities by providing equitable access to high-quality and holistic education. This year, they expanded their reach to serve their highest number of students to date. As of June 2025, they had 481 students attending their online and in-person academic and enrichment programmes.
YTL REIT, through their hotels in Australia, continued to support a wide range of charitable causes through donations and fundraising initiatives. In Malaysia, YTL Hotels and Resorts once again held the Chapman’s Challenge at Pangkor Laut Resort. The event celebrates British Colonel Freddy Spencer Chapman, who in 1945, completed an unparalleled odyssey through the island’s ancient rainforest-three years of resourceful survival culminating in a legendary swim across Emerald Bay’s waters to rendezvous with a British submarine. Athletes from around the region retrace Chapman’s historic journey through jungle and sea in a reverse aquathlon event.
Some of YTL Group’s 70th anniversary initiatives have included guided tours for Youth at YTL (YAY) of the Kuala Lumpur Performing Arts Centre (KLPAC)’s environmentally friendly features, team collaboration events to build model “green cities” using recycled materials, tours of the Upper Penthouse at Menara YTL-the private office designed for the late Tan Sri Dato’ Seri (Dr) Yeoh Tiong Lay, Founder of the YTL Group, and a series of Lunchtime Conversations, where emerging leaders across the Group share their personal journeys, leadership insights and aspirations for the future.
As part of our continuing promise of Building The Right Thing, responsible products and services form the cornerstone of our strategy and approach. Core to our mission, the key tenets include a robust Code of Conduct and Business Ethics, Anti-Bribery and Corruption Policy, Global Privacy Policy and ethical supply chains. At YTL PowerSeraya’s energy retail arm, Geneco SG, now serving over 172,000 residential customers in Singapore, the brand deployed a digital loyalty platform and customer service chatbot which has improved customer engagement, enhanced service quality and deepened brand loyalty.
Sydney Harbour Marriott Hotel has become the first Marriott International property in Australia to earn the Sustainable Tourism Certification from Ecotourism Australia in July 2025, reflecting the hotel’s commitment to meeting best practice standards across environmental, socio-economic, cultural and sustainable management principles.
Concluding Remarks – Climate and Sustainability Leadership
As policies, priorities and targets around the globe have shifted dramatically over the last year, climate and sustainability leadership must increasingly rest with stakeholders who are able to spearhead and implement change. Notably, in two of the many countries where we operate, Malaysia and Singapore have demonstrated continued commitment to environmental and social goals. Additionally, King Charles III and the head of the Catholic Church, Pope Leo XIV are strong advocates for action on climate change. They have highlighted the need to avoid a tyrannical approach to nature, instead advocating for a reciprocal relationship with the environment. They have spoken out about the urgent need to address climate change and have emphasised the importance of moving from words to action. However, whilst guidance can come from a number of sources such as these governments and leaders, the responsibility to continue to implement responsible practices and just transition rests largely with businesses. In Asia, a growing number of businesses are embedding sustainability into core operations, driven by stricter regulations and investor expectations.
YTL Group understands the need for increased collaboration and also accepts that we may not only need to prevent further habitat loss and destruction, but to also repair broken ecosystems, destroyed habitats and communities under threat on multiple fronts. Similar to Kintsugi, a Japanese art form dating back to the 15th century that involves repairing broken pottery in ways that both honours and emphasises the cracks with gold or silver to piece it back together, some of the planet’s ecosystems can still be repaired. Whilst it is likely that they will show visible signs of where they were once damaged, hopefully, they will still be able to function and support the unique biodiversity and provide for the needs of our species sustainably on this resplendent planet.
We face our next 70 years in YTL Group alongside our many stakeholders with the profound currency of faithfulness, integrity and purpose. We must always evoke our humility and never forget that we are not owners, but that we are stewards-caretakers of this moment in time and custodians of this inimitable planet that we share.
May God bless you in all your endeavours.
TAN SRI (SIR) YEOH SOCK PING
PSM, KBE
Executive Chairman
YTL Corporation Berhad