Annica Holdings Limited 

2022

Asia's Most Promising SMEs

Annica Holdings Limited 

Asia's Most Promising SMEs

2022

about Annica Holdings Limited 

Empowering A Sustainable Energy Future

Annica Holdings Limited does transformative things for oil and gas as well as renewable energy in ASEAN.

Annica Holdings Limited is an investment holding company established in Singapore in 1983, providing oil and gas (O&G) equipment as well as power generation and engineering services through its subsidiaries. As an energy transition business, Annica geographically operates within Singapore, Malaysia, Indonesia, and Brunei, with most of its revenue hailing from the O&G equipment segment in Malaysia, followed by Singapore.

Amongst Annica’s primary businesses include the provision of integrated engineering solutions to O&G customers, comprising equipment and the service and maintenance of these products, the development and sales of decentralised electrification solutions based on hydrogen technology, and the development and investment in renewable energy and other low carbon energy generation facilities.

Trailblazing the future of sustainable energy, Annica judiciously embraces environmental, social, and corporate governance (ESG) principles as it seeks to be at the forefront of clean energy by continuously disrupting the energy sector. More importantly, it aims to transform lives by providing multitudes access to energy for modern living through its energy solutions that are not detrimental to climate change or the environment.

Today, Annica serves all major O&G players in SEA, such as Shell and Petronas, with its integrated engineering solutions as well as governmental organisations in Malaysia through its decentralised electrification solutions implemented across rural and off-grid areas. The Group also collaborates with major utilities in Malaysia and solar developers in Indonesia for its renewable energy sector, involving the exportation of low-carbon electricity to Singapore.

Nurturing the business has definitely been challenging, particularly in recent years. Aside from the disruption in the supply chain due to COVID-19 which has impacted Annica’s logistics of its engineering solutions, hydrogen as a renewable source of energy relatively costs more as opposed to wind and solar generation. Finally, cross border energy export has been getting increasingly complicated due to adverse government policies.

Annica has ultimately remained undeterred and continuously invests in efforts to adapt and evolve as per the industry ebb and flow. This has involved working with key stakeholders through partnerships and affiliations to ameliorate roadblocks, pioneering industry-first strategies and solutions that progressively drive its competitive edge, and participating in industry events and associations to stay up-to-date with industry developments.

The company, which was publicly listed in 2003 on SESDAQ – now named SGX-ST Catalist Board, aims to focus on energy transition and transform itself into a renewable energy leader moving forward. Furthermore, it endeavours to be the global leader in decentralised energy for off-grid and rural sites using hydrogen as its primary technology, while striving to be increasingly carbon neutral towards a net zero target by 2050.

Regarding the development of its own identity and culture as the main driver for its growth, Annica creates a conducive environment to foster innovation and opportunities for personal development amongst its employees. It also fully believes in training and developing new and existing talent through sponsorships for skill improvement courses and programs as well as leadership programs for those preparing for more senior roles.

Similarly, Annica embraces CSR to give back to the surrounding community in which it operates. One prime example is its distribution of relief packages to victims during the severe floods in Kuala Lumpur and Selangor in Malaysia in December 2021. The Group is also making headway for more energy-related CSR initiatives for remote communities that are geared towards improving their standards of living.

Annica fittingly deserves its spot amongst Asia’s Most Promising SMEs by ACES, and this title is a testament to the Group’s breaking of new ground within the industry, not only from a fiscal perspective, but also as a tenacious innovator at the forefront of the O&G industry as well as an employer that others will want to grow their careers with.

Energy is something not many of us think about even though it is a part and parcel of our daily lives. While we are here taking it for granted, companies like Annica Holdings Limited is doing transformative things with it to ensure that we have a sustainable energy future. The future is green energy, and Annica will be at the center of it all.”

Shanggari Balakrishnan, Chief Executive Officer, MORS Group

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