What are some recent challenges you have faced? 

After overcoming the challenges posed by the pandemic, we are now experiencing a drop in demand for many products due to three main factors. Firstly, the Russia-Ukraine conflict, along with its subsequent sanctions, has decreased demand. Secondly, China's economic recovery has not been as strong as anticipated. Lastly, high inflation across developed nations is making consumers more cautious about their spending habits, resulting in less discretionary spending and increased focus on daily essentials.

Could you share any notable advancements Infineum has made in R&D?

Infineum has continued to spearhead innovation in the field, as evidenced by the recognition of our lubricant additive Infineum P5500 product, which received the “Made in Singapore & Designed in Singapore” award. This product, designed specifically for the APAC region, underlines our focus on creating affordable, purpose-built solutions that cater to this region's unique demands and challenging terrains. Our broader strategy is to align product development with our sustainability goals, as demonstrated in our work to support fuel-efficient and low-emission internal combustion engines. Looking to the future, we have started developing additives for alternative fuels like hydrogen and ammonia.

Moreover, our e-fluid additives business has seen appreciable growth, especially for our first generation of e-fluid products. We are currently collaborating with key OEMs in Korea and Japan to fine-tune our next-generation e-fluids for EVs. This progress underscores Infineum's reputation for advanced additives and our expertise in the power transmission sector.

Could you elaborate on Infineum's recent net-zero ambition announcement and its sustainability agenda?

At Infineum, we have set a challenging sustainability ambition to inspire a holistic approach toward our operations. Using the Life Cycle Assessment (LCA) methodology enables us to examine our processes from end to end, assessing the carbon intensity of our operations and reducing them throughout the value chain. Currently, we have completed LCA for our product portfolio and are now developing a roadmap for effective interventions. Our ambition includes a 50% reduction in our Scope 1 and 2 emissions by 2030 for operated assets and we also expect to achieve about 20% reduction in Scope 3 emissions by 2030, making us a global leader in the lubricant additive industry. Additionally, in Singapore we purposefully sited our office due to the green initiatives of our landlord, who ensures the whole building runs on renewable energy. 

How do you approach talent attraction, especially considering the challenges faced by the chemical industry in Singapore?

Indeed, attracting top talent in Singapore's competitive market can be challenging. The trendiness of sectors such as banking and IT to younger individuals, coupled with the requirement for hands-on work in a noisy plant environment within the chemical industry, does present unique difficulties. However, at Infineum, our clear philosophy and strong colleague value proposition are key. We focus on individual respect and tailored development. Our global footprint and small team sizes necessitate that our team members are multi-skilled, capable, and empowered to make decisions and create impact independently. We provide opportunities to collaborate globally and offer overseas assignments, fostering a legacy mindset where employees strive to leave a lasting mark. Our goal aligns with the Singapore government's concept of lifelong employability rather than lifelong employment - we strive to develop well-rounded skills in our team members, transferable across industries, allowing our colleagues to explore new horizons if they wish.

Furthermore, we revamped our office to accommodate future ways of working, including increased collaboration and hybrid working models. We employ digital tools to maintain seamless connectivity both in-house and with off-site colleagues. This helps us to better serve our customers and enhance talent attraction. 

Do you have a final message?

At Infineum, we continue to prioritize safety, sustainability, customer-centricity, and talent attraction. Our safety record, including a full year without any injuries globally, is something we take great pride in and will remain focused on. We will proceed with implementing our sustainability roadmaps and interventions to contribute positively to global sustainability. Understanding our customers' needs is at the heart of our operations, allowing us to grow with our partners. Lastly, we will persist in our efforts to attract the best talent, refining our value proposition to appeal to both young and experienced individuals. Our goal is to build a team ready to create a lasting, positive impact.