REDISCOVERING THE

OF TR AVEL

ANNUAL REPORT 2023/24

REDISCOVERING
THE
OF TR AVEL

As the world rekindles its desire for travel adventure, Changi

Airport continues to welcome visitors with a symphony of
awe-inspiring marvels and boundless experiences.

Innovation took centre stage, with immersive wonders like

Dreamscape and The Wonderfall that blend nature with
technology. ChangiVerse on Roblox extends the passenger
experience into a virtual world to explore the airport’s
enchanting realms from anywhere across the globe.

Changi Airport’s passenger numbers soared along with

the return of full four-terminal operations and the grand
reopening of Terminal 2. In the January to March 2024
quarter, Changi crossed a significant milestone as passenger
movements surpassed pre-pandemic levels for the first
time, marking a triumphant return to the skies.

New airlines joined the Changi family, city links sprouted,

and existing routes saw a surge. Retail became an
adventure in itself, with passengers rediscovering familiar
favourites and encountering delightful new arrivals. Jewel
Changi Airport also shimmered with new tenants.

Throughout this journey, the spirit of the ONE Changi

community stayed strong. Staff, airlines and airport
partners united to uphold the world-renowned service
excellence that defines Changi. This unwavering
dedication was celebrated with several awards throughout
the year, reaffirming Changi’s status as the pinnacle of
enchantment worldwide.

As we reflect on the journey behind us and look ahead to

the horizons beyond, one thing remains certain – the magic
of travel endures. So, join us as we rediscover that magic,
one destination at a time.

Dreamscape, Terminal 2
Contents
12 Corporate Profile 32 Transforming Airport Operations 46 Attracting and Building Talent
13 Vision, Mission and Values 35 Building Changi’s Future 48 Advancing Environmental
14 Message from the Chairman 36 Curating Magical Shopping and Sustainability
18 Financial Review Dining Moments 60 Board of Directors
21 Air Traffic Statistics 39 Enhancing Digital Enchantment 65 Management Team
22 
Global Connectivity 41 Enhancing Travel Services 66 Corporate Governance
24 A Year of Remarkable Recovery 42 Glistening Gem Dazzles Visitors 71 Enterprise Risk Management
26 Unveiling the Wonder of 44 Bringing Changi’s Expertise 72 Group Financial Summary
Terminal 2 to the World Overseas 88 Annex
29 Enhancing the Changi Experience 45 Engaging a Global Audience IBC Corporate Information
2 ANNUAL REPORT 2023/24

EMBRACING
I N F I N I T E T R AV E L

Changi Airport embarked on an extraordinary

journey of recovery, echoing the boundless
possibilities of global travel. With traffic
numbers surpassing pre-pandemic levels for
the first time, Changi solidified its status as a
premier gateway to the world. Wherever one
dreams of going, Changi Airport is ready to
transform this wanderlust into realities.

Changi Airport
CHANGI AIRPORT GROUP 3
4 ANNUAL REPORT 2023/24

C R E AT I N G
A WORLD OF

As the world’s most awarded airport, Changi Airport

sets the stage for unparalleled airport experiences.
Terminal 2’s grand reopening dazzled with digital
magic and enchanting gardens, earning acclaim
for its innovation, creative charm and emphasis on
sustainability. The resumption of full four-terminal airport
operations bolstered Changi’s capacity to 90 million
passengers annually. With a focus on safety, innovation
and sustainability, CAG navigates the challenges of a
burgeoning air travel industry with unwavering dedication.
Meanwhile, Seletar Airport embraces advancements such
as Single Runway Frequency and drone inspections to
enhance operational efficiency and passenger satisfaction.

Departure immigration, Terminal 2

CHANGI AIRPORT GROUP 5
6 ANNUAL REPORT 2023/24

CONCOCTING
MEMORABLE

Dedicated to always lifting the passenger experience,

Changi Airport is orchestrating a vibrant transformation
of its shopping and dining scene. The retail landscape
is enlivened with a treasure trove of new brands and
classic favourites, and is complemented by a melting
pot of local and international cuisines. It is in these
intrepid retail and gastronomic journeys that the true
magic of travel reveals itself.

ActionCity Cafe, Jewel Changi Airport

CHANGI AIRPORT GROUP 7
8 ANNUAL REPORT 2023/24

T U R N I N G M O M E N TS
I N TO N E W WO R K P L AC E

CAG has woven a sense of wonder into its workplace

culture by restructuring work schedules to foster
creativity. ‘i-Fridays’ were introduced to encourage
employees to set aside time to upskill and explore
innovation projects that transcend their current
portfolio. Beyond work, the flag of volunteerism flies
ever higher as CAG continues to give back to society
through numerous Changi Foundation programmes.

During the year, CAG launched a new employer

brand ‘Come Make MAGIC With Us’ to attract top
talent. It is bolstered by the hashtag #IMCAG, an
anagram of MAGIC.

Amazon Tea Hut, CAG office

CHANGI AIRPORT GROUP 9
10 ANNUAL REPORT 2023/24

BUILDING A
GREENER

CAG advances sustainable practices across

its airport operations, committing to
reduce its carbon footprint and promote
sustainable travel. Aligning with the
Singapore Sustainable Air Hub Blueprint,
CAG has enhanced its carbon emissions
target to reduce Scope 1 and 2 emissions
by 20% by 2030, against a 2019 baseline. In
the longer term, CAG strives towards Net
Zero by 2050, enabled by advancements
in technologies for energy efficiency in
buildings, availability of off-site renewable
energy and national grid decarbonisation.

Arrival immigration, Terminal 3

CHANGI AIRPORT GROUP 11
12 ANNUAL REPORT 2023/24

CO R P O R AT E
PRO FI L E

Changi Airport Group (Singapore)

Pte Ltd (CAG) was formed on 16
June 2009 and the corporatisation of
Singapore Changi Airport (IATA: SIN,
ICAO: WSSS) followed on 1 July 2009.

As the company managing Changi

Airport, CAG undertakes key
functions focusing on airport
operations and management, air
hub development, commercial
activities and airport emergency
services. CAG also manages Seletar
Airport (IATA: XSP, ICAO: WSSL) and
through its subsidiary Changi Airports
International, invests in and manages
airports around the world.

Link bridge from Terminal 2 to Jewel Changi Airport

 CHANGI AIRPORT GROUP 13

VISION, MISSION
AND VALUES

To be a first-in-class, leading global To be a global leading airport company,

aviation hub run by exceptional anchored in the heart of Asia,
people, connecting lives and pioneering safe, secure, sustainable
businesses, contributing to the and vibrant air hubs, ready for
economic growth of Singapore. our future.

Our values and culture guide us in everything we do. They are the foundation for
our decisions and the heart of our organisation. CAG is about world-class service,
delivered through our passion and culture of excellence.

We value We lead in
OUR PEOPLE OUR BUSINESS
Integrity and
Service are at
We succeed with We are committed to
the Heart of
OUR PARTNERS OUR CUSTOMERS
everything we do
14 ANNUAL REPORT 2023/24

MESSAGE FROM
THE CHAIRMAN
Financial year 2023/24 was a Our commitment to enhancing Southeast Asia. The addition of
remarkable journey for Changi Changi’s connectivity to the four new freighter airlines and
Airport Group (CAG) as we world remained unwavering. We several strategic partnerships
transitioned from the challenges welcomed two new passenger underscored our commitment
of Covid-19 to a recovery period airlines, Aero Dili from Timor Leste to bolstering air logistics. This
marked by volatile economic and TransNusa from Indonesia, included a Memorandum of
conditions, high interest rates, and established new links to Understanding with Brussels
and evolving consumer behaviour. India’s Bhubaneswar and China’s Airport Company to improve
Despite these headwinds, I am Beijing Daxing Airport. These pharmaceutical air logistics and
proud to report that CAG has additions expanded our network set new industry standards for
emerged stronger and more and reinforced our status as a key excellence.
resilient, charting a course of gateway to the Asia-Pacific region.
recovery that has exceeded our Improved financial and
expectations. In a concerted effort to restore commercial performance
connectivity, we reinstated links
to many destinations, expanding CAG’s financial results for 2023/24
Changi as a leading air hub
Changi Airport’s network to reflect continued recovery and
The Changi air hub has been over 150 cities, served by more growth. Total revenue rose 45%
at the heart of this resurgence. than 90 airlines operating to S$2,727 million, driven by
2023/24 marked a significant over 6,700 weekly flights. To the strong return in air travel
milestone, with 62.5 million promote Singapore as a stopover demand. Revenue from the
passenger movements, reflecting a destination, the Free Singapore airport’s concessions recovered
remarkable 46% growth from the Tour was relaunched with a new more slowly due to lower spending
previous year. I am happy to report Changi Precinct Tour to showcase amid inflationary pressures and
that we surpassed pre-Covid levels the vibrancy of our island’s east. global economic uncertainty.
in the final quarter of the financial Nonetheless, EBITDA increased
year, emerging as the fifth busiest In cargo operations, we handled 60% to S$1,205 million, and
international airport globally 1.8 million tonnes of airfreight net profit after tax grew to
by seat capacity1. This recovery throughput during the year, placing S$431 million.
underscores our resilience and 12th globally for international cargo
reaffirms our pivotal role as a traffic and cementing our position With increased passenger
global aviation hub. as the busiest cargo airport in movements, CAG also seized

1
Source: OAG

Changi emerged stronger

with the highest international
passenger traffic recovery in
2023 for the Asia-Pacific region.
 CHANGI AIRPORT GROUP 15

The refreshed T2 includes several new experiences, including ‘Flap Pix’, an installation which features the iconic mechanical split-flap flight
information board.

the opportunity to elevate A rejuvenated Terminal 2 doubling the number of automated

customer experience with check-in kiosks and bag drop
new innovative retail concepts On 1 November 2023, CAG machines, introducing automated
such as an interactive celebrated the reopening of Special Assistance Lanes, and
sommelier, robot barista, and Terminal 2 (T2), marking a key constructing a new mega Early
unmanned convenience store. milestone in our infrastructure Baggage Storage facility. Our
Our e-commerce platform, development. Inspired by nature,
efforts were recognised with
iShopChangi, expanded to T2’s design incorporates natural
the Building and Construction
incorporate over 2,000 brands, materials and lush greenery to
Authority’s Universal Design
enriching the shopping experience create a serene environment.
Excellence Award and the BCA
for discerning travellers and The expansion added over
Green Mark Platinum award.
residents. This expansion included 21,000 square metres, increasing
off-airport merchants, allowing us Changi Airport’s capacity to
The engineering works undertaken
to offer diverse and more high- 90 million passengers per annum.
for T2 also involved significant
quality shopping options. Enhancements included nearly
upgrades to critical systems and
building equipment, ensuring
that the terminal remains at
the forefront of efficiency and
sustainability. The introduction
of 27 new-to-Changi brands
has diversified the tenant mix,
enhancing passenger experience.
These new offerings provide a blend
of local and international brands,
catering to a wide range of tastes
and preferences.

Innovations and operational

enhancements
Elsewhere in Changi Airport’s
terminals, there were
The debut of Jones the Grocer, Changi Airport’s first landside duplex cafe, has brought much
excitement to the departure hall in T2. enhancements, emphasising
16 ANNUAL REPORT 2023/24

MESSAGE FROM streamlined runway operations

THE CHAIRMAN and significantly improved safety.
Additionally, integrating drones
for inspection and maintenance
has increased precision and
reduced costs.

CAG’s subsidiaries
CAG’s subsidiaries Jewel Changi
Airport (Jewel) and Changi Airports
International (CAI) have been
instrumental in amplifying our
global footprint. Jewel continued
to attract much attention in news
and social media during the year,
enjoying a 26% year-on-year
increase in footfall. Collaborations
with the Singapore Tourism
Board have elevated Jewel into
a destination in its own right,
Jewel enthralled visitors with several large-scale activations, including its first flower festival offering carefully curated products
‘Jewel Blooms’ in September 2023. and dining experiences that
highlight the best of Singaporean
culture.
safety, innovation, and efficiency.
The deployment of autonomous CAI’s recent story has been one
cleaning robots and a new of transformative partnerships
Enterprise Data Platform Plus
Collaborations to collect and analyse data in
and impactful initiatives.
Leveraging our expertise in
with the Singapore near real-time are examples of airport management, we inked
our efforts to raise operational strategic agreements with
Tourism Board efficiency while maintaining a high airports in Angola, Egypt and
have elevated standard of service. Key milestones Vietnam. These partnerships aim
also included operationalising to enhance airport performance,
Jewel into a Runway 2 with upgraded grow non-aeronautical revenue,
safety systems and pioneering
destination in technologies like the Casualty
and foster international route
development. CAI will continue
its own right, Evacuation Bot for emergency to explore opportunities to share
passenger evacuations.
offering carefully CAG’s expertise and standards of
excellence with airports around
curated products To accommodate the increasing the world.
volume of air traffic, new aircraft
and dining parking stands were constructed, The way forward
and we commenced trials for fully
experiences that automated aerobridges, which Even as we build on the recovery
highlight the best will improve the disembarkation of air traffic at Changi Airport, CAG
process and reduce manpower today faces unique conditions
of Singaporean requirements. At Seletar Airport, in our operating environment.
culture. the introduction of the Single Innovation remains the
Runway Frequency system has cornerstone of our future success
 CHANGI AIRPORT GROUP 17

15 years of leadership. His

vision and dedication have been
instrumental in positioning Changi
Airport as a world leader among air
Our commitment to sustainability remains hubs. Under his stewardship, we
unwavering. We actively explore ways saw the construction of Terminal
4, upgrades to Terminals 1 and
to improve energy efficiency in our 2, and the realisation of Jewel.
These significant developments,
terminals as well as increase the share of coupled with efforts to expand
renewables in our energy mix. Changi’s network of airlines
and destinations, have garnered
global acclaim, earning Changi
numerous Best Airport awards.
and it is being pursued across Our commitment to sustainability Seow Hiang also led CAG through
all our business and operations. remains unwavering. This year, we the unprecedented challenges of
These cross-disciplinary efforts are raised our carbon emissions target Covid-19, ensuring we emerged
focused on developing bold from the previous Zero Carbon stronger and more resilient. The
solutions to enhance the capacity Growth to a 20% reduction in Board and I wish him the very best
of Changi’s existing terminals, Scope 1 and 2 emissions by 2030, in his future endeavours.
as well as to meet the major against a 2019 baseline. This is
challenges facing our air hub, such in line with the target set by the The Board would also like to thank
as climate change, manpower authorities for domestic aviation Brigadier-General Kelvin Fan who
constraints, and evolving customer emissions under the Singapore stepped down as a Director in
expectations. Sustainable Air Hub Blueprint. The March 2024. We are grateful for
installation of a solar photovoltaic his valuable contributions and
Looking ahead, the construction (PV) system on Changi Airport’s counsel during his tenure.
of Terminal 5 (T5) is set to rooftops, set to be the largest
commence in 2025, following the single-site rooftop solar PV system With air travel expected to
launch of the first construction in Singapore when completed in continue growing in the future, we
tender in March 2024 for the T5 2025, marks a significant step in remain mindful that the industry
substructure. Initiatives like the our commitment to sustainable is still volatile and fast-changing.
T2 Connection (linking T5 to T2) operations. Alongside this, we are Nonetheless, we look forward to
and new ways of baggage handling proud to introduce ‘Changi Carbon achieving full recovery in Changi
will ensure seamless passenger Offsets’—our very own carbon- Airport’s passenger traffic before
and baggage transfers between offset programme for travellers. long. This confidence stems
terminals. We are testing robotic from the strong foundation and
These initiatives are pivotal in
solutions such as the Auto-Dolly resilience demonstrated by our
our ongoing efforts to utilise
and Auto-DollyTug, as well as team and all our partners who
renewable energy extensively and
implementing autonomous loading have worked closely with CAG to
to reduce the aviation industry’s
and unloading of Unit Load drive Changi’s long-term growth.
carbon footprint.
Devices at aircraft stands. When
fully developed, these innovations Together, we will continue
Appreciation
will ensure that Changi Airport to navigate challenges, seize
remains ready to meet the growing Mr Lee Seow Hiang, who has opportunities, and elevate Changi
demands of global air travel been Chief Executive Officer since Airport to even greater heights.
and ensure that Changi Airport CAG’s corporatisation in 2009,
continues to set the standard steps down on 1 July 2024. I would
for operational excellence and like to extend my heartfelt thanks TAN GEE PAW
passenger service. to Seow Hiang for his remarkable Chairman
18 ANNUAL REPORT 2023/24

FINANCIAL
REVIEW

Financial Highlights
Financial Highlights
FY19/201 FY20/21 FY21/22 FY22/23 FY23/24
Profit or Loss (S$’mil)

Total revenue 3,119 697 944 1,883 2,727

Total expenses 2,252 1,433 1,526 1,856 2,233
EBITDA 1,637 178 232 751 1,205
Profit /(Loss) attributable to shareholder
of the Company 438 (954) (838) 33 431

Financial Position (S$’mil)

Assets 15,948 15,301 12,750 13,313 14,347
Liabilities 7,818 8,469 6,628 7,170 7,842
Cash and cash equivalents 2,422 1,632 1,351 1,595 2,115
Loans and borrowings 1,803 1,837 2,016 1,972 1,925
Equity attributable to shareholder of
the Company 7,887 6,916 6,218 6,259 6,637

Financial Ratios
EBITDA margin 52.5% 25.5% 24.6% 39.9% 44.2%
NPAT margin 4.8% n.m. n.m. 0.5% 15.3%
Return on equity 5.6% -12.9% -12.8% 0.5% 6.7%

1 The Group has adopted Singapore Financial Reporting Standards (International) (“SFRS(I)”) with effect from 1 April 2019. In accordance
with the transition requirements, FY19/20 comparatives and balances as at 31 March 2020 have been restated.

n.m.: Not meaningful

 CHANGI AIRPORT GROUP 19

Year In Review Group Operating Revenue economic uncertainty. Despite

the challenges, Changi continued
Financial year 2023/24 was a With the recovery in travel demand, to enhance its retail shopping
significant milestone for Changi passenger traffic at Changi Airport experience and added more than
Airport’s recovery. For the first time continued to grow steadily during 40 new brands at Changi.
since the onset of the pandemic, 2023/24, gaining momentum in
Changi Airport saw its passenger the last quarter to surpass pre- At Jewel Changi Airport, large-scale
numbers surpass pre-Covid levels Covid levels. The strong traffic marketing activations in partnership
during the last quarter of the performance in the last quarter with popular brands like Marvel and
financial year. The robust demand was boosted by the hosting of Nintendo were launched. These
for air travel during the year was led major events in Singapore and efforts, combined with a refreshed
by the rebound in Northeast and liberalisation of visa requirements tenant mix, contributed to increased
Southeast Asia traffic. Boosted by between China and Singapore. footfall and sales compared to the
the recovery in passenger traffic at Changi Airport also collaborated previous year. As a result, Jewel’s
Changi Airport, the Group’s revenue closely with airline partners to revenue increased 14% year-
rose 45% to S$2,727 million. drive air traffic and connectivity, on-year (yoy).
restoring almost 90% of pre-Covid
Over the last two years as passenger city links. For the whole of 2023/24, On the back of travel recovery,
traffic continued to recover, Changi passenger movements reached 62.5 Changi Travel Services, which offers
Airport progressively reopened million or 91% of pre-Covid levels, travel-related products and services
terminals as part of a measured with air traffic movements totalling through its consumer-facing brand,
approach to meet capacity demands 344,000 or 90% of pre-Covid levels. Changi Recommends, experienced
as well as manage terminal operating steady increase in its sales of travel
costs. With full recovery Revenue from the Group’s airport essentials such as local SIM cards,
in sight, Changi Airport celebrated service fees increased by 53% Wi-Fi routers and transport cards,
the reopening of the expanded to S$1,344 million, driven by the as well as sales of local attractions’
Terminal 2 (T2), marking the full growth in passenger traffic and tickets to international travellers.
restoration of Changi’s four-terminal phased increase in chargeable rates
operations. The Group’s operating that helped to support Changi’s Changi Airports International, the
expenses rose by 20% to S$2,233 operations, development plans consultancy and investment arm of
million with the increased level of and upgrading of existing the Group, also saw an increase in
business activities. infrastructure that continued its revenue as it continued to forge
throughout the pandemic. new partnerships and signed several
Overall, the Group saw an consultancy agreements during the
improvement in its financial Airport concession and rental year with overseas airports such
performance as EBITDA and net income improved by 48% in as Cairo International Airport and
profit attributable to the shareholder 2023/24 to reach S$1,042 million, regional airports in Angola.
of the Company increased to but recovery was slower due to
S$1,205 million and S$431 million lower passenger spending amid Overall, Group revenue grew 45%
respectively. inflationary pressures and global to S$2,727 million.

FY2023/24 Group revenue

S$84
S$257
3%
9%

S$2,727 49% S$1,344

million Airport service fees
S$1,042 38% Airport concessions and rental income
Other airport services
Other revenue
20 ANNUAL REPORT 2023/24

FINANCIAL comprising capital asset investments

REVIEW in property, plant and equipment as
well as investment property. During
the year, the Group invested over
S$800 million to upkeep and upgrade
the airport’s facilities, as well as to
FY2023/24 Group expenditure fund the expansion of T2 and the
development of Changi East.

S$344
S$709 With significant capital investment
15%
Depreciation and amortisation outlay for the Changi East
S$369 32%
Maintenance of land, buildings and equipment development underway, the Group
17% S$2,233 Government charges and CAAS services continued to stay prudent and
million Services, security and other related expenses focussed on rebuilding its financial
Employee compensation
18% 19% resilience and cash reserves. As
S$394 S$417 at 31 March 2024, cash and cash
equivalents for the Group totalled
S$2,115 million, while loans and
borrowings amounted to
Group Expenditure and the use of artificial intelligence
S$1,925 million.
and machine learning to enhance the
In tandem with the recovery in speed and accuracy for the security
passenger traffic and restoration Total equity attributable to the
screening of hand-carry baggage.
of full four-terminal operations at shareholder of the Company grew
These technological advancements
Changi Airport, the Group’s operating by S$378 million to reach
automate labour-intensive tasks and
expenses increased by 20% yoy to S$6,637 million.
augment the workforce to increase
S$2,233 million in 2023/24. manpower productivity.
Outlook
T2 was fully reopened in November To improve energy efficiency and Looking ahead, the Group remains
2023 after three and a half years shift towards renewable and cleaner cautiously optimistic that Changi
of extensive engineering and energy sources, the Group upgraded Airport will be able to achieve
expansion works, boosting the
airport buildings and systems 100% recovery of pre-Covid traffic
airport’s total handling capacity to
with best-in-class energy-efficient in 2024/25. While the outlook for
90 million passengers per annum.
models and expanded support for aviation is promising as demand for
With the recovery of air traffic at
the airport community to switch to air travel continues to be healthy
Changi Airport, services and licence in the first quarter of 2024/25, the
cleaner energy vehicles. The Group
fees charged by the Civil Aviation Group remains mindful that the
also continued to advance its solar
Authority of Singapore were also industry operates in a highly volatile
efforts with the commencement of
fully reinstated. and fast-changing environment. To
the installation of Singapore’s largest
rooftop solar photovoltaic system in stay ahead, the Group will continue
To navigate the headwinds of to invest in its infrastructure as well
one location.
escalating cost pressures from as innovative solutions.
inflation and labour shortages,
the Group continued its focus on
EBITDA and Net Profit
The Group remains committed
innovation initiatives, leveraging The Group’s EBITDA grew by 60% to to exercising financial prudence
automation and technology to reach S$1,205 million and net profit even as it continues to face cost
boost operational productivity and attributable to the shareholder of the pressures from inflation and escalating
efficiency. For instance, T2 was Company grew to S$431 million manpower costs. The Group will also
reconfigured to provide greater in 2023/24. continue to work closely with the
convenience to passengers with aviation community and government
increased automated check-in kiosks agencies to strengthen Singapore’s
Financial Position
and bag drop machines. The Group position as a leading air hub as it
also experimented with various As at 31 March 2024, the Group’s forges ahead to achieve long-term
innovative solutions such as the fully asset base grew to S$14,347 sustainable growth.
automated passenger loading bridges million, with more than two-thirds
 CHANGI AIRPORT GROUP 21

AIR TRAFFIC
STATISTICS

(in millions)

FY2023/24 62.5
FY2022/23 42.6
FY2021/22 5.2
Passenger FY2020/21 1.1
Movements
FY2019/20 62.9

(in thousands)

FY2023/24 344
FY2022/23 257
FY2021/22 123
Commercial FY2020/21 72
Aircraft Movements
FY2019/20 363

(in millions)

FY2023/24 1.80
FY2022/23 1.81

1.98
Airfreight FY2021/22

Throughput – FY2020/21 1.52

Tonnes of Airfreight FY2019/20 1.97
22 ANNUAL REPORT 2023/24

GLOBAL
CONNECTIVITY Houston
As at 31 March 2024 Hyderabad
Indianapolis
Denpasar
Ipoh
Dhaka
Istanbul
Brussels Dili
Jakarta
Busan Doha
Jeddah
Cairns Dubai
Abu Dhabi Jeju
Cape Town Frankfurt
Addis Ababa Jinan
Cebu Fukuoka
Adelaide Johannesburg
Changsha Fuzhou
Ahmedabad Kaohsiung
Chengdu Guangzhou
Amritsar Kathmandu
Chennai Guwahati
Amsterdam Kochi
Chiang Mai Haikou
Anchorage Koh Samui
Chongqing Hangzhou
Angeles/Mabalacat Kolkata
Christchurch Hanoi
Athens Kota Kinabalu
Cincinnati Hat Yai
Auckland Krabi
Coimbatore Hefei
Bahrain Kuala Lumpur
Colombo Helsinki
Baku Copenhagen Ho Chi Minh City
Balikpapan Da Nang Hong Kong
Bandar Seri Begawan Dallas Honolulu
Bangalore Darwin
Bangkok Davao
Barcelona Delhi
Beijing
Berlin
Bhubaneswar
Brisbane

CONNECTING
 CHANGI AIRPORT GROUP 23

Kuantan Melbourne Paro Shenzhen

Kuching Memphis Pekanbaru Siem Reap
Kunming Milan Penang Surabaya
Langkawi Miri Perth Sydney
Leipzig Mumbai Phnom Penh Taipei
Lombok Munich Phuket Tianjin
London Nadi Port Moresby Tiruchirapalli
Los Angeles Nagoya Pune Tokyo
Louisville Nairobi Qingdao Trivandrum
Luxembourg Nanchang Rome Vientiane
Macau Nanjing San Francisco Visakhapatnam
Madurai Nanning Sanya Wuhan
Makassar New York Sapporo Wuxi
Malé Ningbo Seattle Xi’an
Manado Nouméa Semarang Xiamen
Manchester Okinawa Seoul Yangon
Manila Osaka Shanghai Yantai
Medan Paris Sharjah Yogyakarta
Shenyang Zhengzhou
Zurich

SINGAPORE
to cities in countries/territories
24 ANNUAL REPORT 2023/24

A YEAR OF
REMARKABLE RECOVERY

Financial year 2023/24 was a year to Bangalore and Hyderabad, to attract Chinese and Indonesian
of remarkable recovery for Changi respectively. With the addition of tourists.
Airport. Fuelled by a surge in travel Bhubaneswar, Changi is the most
demand that was evident across connected hub to India across Additionally, CAG stirred up
the globe, there was an upswing in Southeast Asia with 17 city links, wanderlust with its ‘Shall We Just
both outbound and inbound travel. surpassing pre-Covid levels. Go?’ travel campaign that promoted
62.5 million passenger movements the thrill of spontaneous travel.
were registered in 2023/24, a 46% Changi also actively engaged its Working with Trip.com, the 12-
growth from the previous year. airline partners to encourage week initiative saw over 85,000
Changi emerged stronger with the them to fully reinstate their pre- participants vying for a chance to
highest international passenger Covid flight frequencies and seat win an impromptu adventure to
traffic recovery in 2023 for the capacities. This led to capacity one of six destinations – Cebu,
Asia-Pacific region. It also secured surpassing pre-pandemic levels for Ho Chi Minh City, Jeju, Penang,
its position as the fifth busiest some routes. Phnom Penh, or Surabaya. Besides
airport in the world by seat capacity, stimulating travel demand, it helped
according to global travel data As of March 2024, Changi restored to raise the profile of Southeast
provider, OAG. its connectivity to over 150 city Asian airlines that operated in
links, served by more than 90 Changi.
Strengthening Changi’s global airlines, with over 6,700 weekly
network flights. Boosting Changi’s
attractiveness as a transit hub
CAG stayed focused on enhancing Strategic partnerships and
Changi’s connectivity to bolster campaigns to promote travel The much anticipated Free
its position as a premier air hub. Singapore Tour programme
Two new passenger airlines joined Recognising the importance of returned, as Changi positioned
the Changi family – Aero Dili from the China market, a tripartite itself as a destination beyond
Timor Leste and TransNusa from partnership between CAG, Sentosa just a transit point. Existing tour
Indonesia. Changi also established Development Corporation and the itineraries, including the City
a new city link to Bhubaneswar Singapore Tourism Board (STB) Sights Tour and Heritage Tour,
in India, and a new service link to was inked to promote Singapore’s were revitalised to include new
China’s Beijing Daxing Airport. iconic attractions in Sentosa and points of interest. A brand-new
the seamless travel experience Changi Precinct Tour was added
Several airlines added new city at Changi Airport to Chinese to unveil the vibrant cultural and
links to their network. Notably, Thai travellers. CAG also strengthened historical side of Singapore’s
AirAsia launched its Hat Yai service, its relationship with leading online eastern region surrounding Changi
previously operated solely by Scoot, travel agencies like Trip.com, Airport. This tripartite collaboration
offering passengers a wider range of Traveloka and Tiket through several with Singapore Airlines and STB
choices. Additionally, Air India and Memoranda of Understanding to aimed to entice transit passengers
IndiGo started new daily services collaborate on inbound campaigns to discover the unique charm of
 CHANGI AIRPORT GROUP 25

Singapore, in hope of converting

them into potential future visitors
and contribute to Singapore’s
overall tourism efforts.

CAG also anticipated the return

of the fly-cruise passengers
post-Covid. Under a three-year
partnership between Marella
Cruises, STB and TUI Airways,
the airline will operate thrice-
weekly services from Birmingham,
London-Gatwick and Manchester
to Singapore between December to
CAG’s booth at trade shows allowed Air Hub Division and their Changi aviation partners to have
April each season, for three years deeper discussions with overseas contacts.
from 2024 to 2026.

Deepening relationships with Enhancing cargo connectivity to improve pharma air logistics and
industry stakeholders and capacity share best practices in driving air
cargo operations excellence through
To build top-of-mind awareness in In 2023/24, Changi handled digitalisation and innovations.
the aviation sector, CAG resumed 1.8 million tonnes of airfreight
participation in trade shows held throughput. Based on international CAG is the founding and strategic
abroad and locally to meet up with cargo traffic, Changi ranked 12th member of Pharma.Aero, another
airline and aviation community globally in 2023 and the busiest in international partnership where it
partners. Southeast Asia. played an active role in spearheading
projects to improve air pharma
As global travel rebounded, CAG During the year, Changi welcomed transportation. One notable project
also recognised the concerted four new freighter airlines – Air was the Green Air Pharma Logistics,
efforts and resilience of the Incheon, Shandong Airlines Cargo, where Changi and its project
aviation industry at the annual Sichuan Airlines Cargo, and partners developed the building
Changi Airline Awards. The event Myanmar National Airlines – to blocks of a Lane Sustainability
brought together more than 150 its growing network. It added Readiness Index. These collaborative
representatives from about 70 new freighter city links to Haikou, initiatives showcased Changi’s
airlines for a night of celebration Nanning, and Yangon. The ongoing commitment towards the pursuit of
and appreciation. Twenty-four collaboration between DHL Express greener air logistics.
awards in six categories were and Singapore Airlines deepened
presented to airlines which made with the successful induction of Changi air cargo hub’s dedication
the most significant contribution to all five B777 freighters. These to excellence was acknowledged
passenger and airfreight traffic at freighters operate 12 weekly on the international stage through
Changi Airport in 2022. flights to key destinations such as several awards. These included
Cincinnati, Honolulu, Los Angeles World Air Cargo Awards 2023 for
CAG remains committed to and Sydney, further augmenting Airport of the Year, the Asian Freight
fostering deeper engagements with Changi’s freighter connectivity. Logistics & Supply Chain Awards
its trade partners. Changi Travel 2023 (AFLAS) for Best Airport – Asia
Circle 2.0, CAG’s B2B community
Strengthening air cargo (over 1 million tonnes), the Air Cargo
platform for its travel trade partners, News Awards 2023 for Cargo Hub
industry partnerships
was launched with new features. of the Year, the Payload Asia Awards
The enhancements helped to Europe was Changi’s second largest 2023 for Global Hub of the Year,
facilitate more seamless interactions region by air trade in 2022, and and the STAT Trade Times Award
between members, provided insider Belgium-Singapore was a key air for Excellence in Air Cargo 2023 –
resources that equipped partners trade lane for high-value cargo such International Cargo Airport of the
with valuable market insights as biopharmaceuticals. In March Year. The recognitions attested to
and industry updates and gave 2023, CAG signed a Memorandum of Changi’s exceptional network, robust
partners early access to exclusive Understanding with Brussels Airport connectivity, and best-in-class cargo
experiences and deals. Company to collaborate on initiatives handling capabilities.
26 ANNUAL REPORT 2023/24

UNVEILING THE WONDER OF

TERMINAL 2 TO THE WORLD

Pushing the boundaries of airport boosted capacity to 90 million North wing were familiar with the
experience and innovation continues passengers per annum, a timely operations.
to be the hallmark of CAG. On 1 move in view of the strong air
November 2023, CAG announced traffic recovery. CAG worked with nine airlines
the full reopening of Terminal 2 (T2) – Air Japan, All Nippon Airways,
ahead of schedule after completing Fortifying passenger service Ethiopian Airlines, Etihad Airways,
three and a half years of engineering FireFly, IndiGo, Lufthansa,
and expansion works. Prior to T2’s full reopening, CAG Singapore Airlines (selected flights)
conducted numerous operational and SWISS – for a smooth cross-
T2’s expansion added more readiness trials with airport terminal relocation to T2 North.
than 21,000 square metres to partners and workers. T2’s Sixteen airlines now operate at T2.
the terminal building to support North wing was opened on 28
additional infrastructure, new September 2023, following the To provide greater convenience
systems and expanded retail operationalisation of the South to passengers, T2 reconfigured
options. Its reopening marked wing in 2022. Test flights were its departure hall layout and
the return of full four-terminal carried out to ensure airport staff nearly doubled the number of
operations at Changi Airport and at all touch points across T2’s automated check-in kiosks and bag
drop machines in its new central
common-use Fast and Seamless
Travel (FAST) zone. Immigration
halls were also expanded to
accommodate more automated
immigration lanes to facilitate
quicker processing of passengers.
To make the travel journey more
inclusive, T2 rolled out automated
Special Assistance Lanes for
individuals with disabilities and
families with young children
at both arrival and departure
immigration, a first at Changi
Airport.

The baggage claim hall was

Senior Minister and Coordinating Minister for National Security, Teo Chee Hean (centre), graced
enhanced with the extension of
the T2 Expansion Opening Ceremony alongside the launch of new attractions. two existing baggage belts to
 CHANGI AIRPORT GROUP 27

accommodate higher bag volumes, A brand-new children’s playground,

particularly from wide-body ‘2 Bears Hideout’, can also be
aircraft. A state-of-the-art Early found in T2’s transit area. Children
Baggage Storage (EBS) facility was can snuggle up in a beehive,
also built. This fully automated bounce on a honeycomb, or let
EBS system increased the storage Pushing the their imagination run wild in this
capacity of bags from 2,200 to boundaries of natural play space.
2,400 bags at any given time. It
is powered by automated cranes airport experience Rejuvenating concession
which can store and retrieve and innovation spaces
bags in designated storage slots,
greatly reducing manpower needs continues to be the New retail offerings with freshly
designed spaces were introduced
while improving efficiency and hallmark of CAG. at T2 to captivate visitors and
productivity.
passengers, including 27 new-to-
T2’s critical systems and building Changi brands.
equipment at the end of their
operational lives were also combined digital content, The debut of Jones the Grocer,
upgraded to more efficient models. horticulture and fish in the same Changi’s first landside duplex
A new chiller plant was installed space. With its meticulously cafe, brought excitement to the
landscaped backdrop, seamlessly departure hall. This renowned
to reduce energy consumption
joining a ‘digital sky’ which changes artisanal cafe featured a grab-and-
for cooling by 30%, while still
go deli-style food counter on the
maintaining passenger comfort. its hues depending on the time and
ground floor, while the upper level
weather of the day, travellers are
housed a bar and restaurant with a
New magical attractions at T2 set to be mesmerised.
scenic view of the departure hall.
As a world-class airport operator,
The immersive experience continues Several local homegrown brands,
CAG broke new ground in airport
at ‘Flap Pix’, an installation which such as Lynk Fragrances and
experience with the T2 expansion
features the iconic mechanical Baker’s Well, also made their
project. T2’s design concept is
heavily inspired by nature. Natural split-flap flight information board, debuts in T2. These uniquely
materials are used in wall cladding previously used in T2. Using 1,080 Singaporean brands showcased
and flooring to create a soothing split-flaps, visitors can capture Singapore’s rich heritage and
ambience. Large green columns selfies and watch the images come creations to an international
with a myriad of plants traversing to life on the board. audience.
the departure and arrival halls
create a lush garden experience.

At the heart of T2’s departure hall

is one of Changi’s latest landside
attractions, ‘The Wonderfall’. Set
amid a vertical garden, this four-
storey-high digital display features
a majestic waterfall cascading over
megalithic boulders in melodic
rhythms of nature. It is truly a feast
for the senses, transporting visitors
to an immersive world of wonder.

Inside the departure transit hall,

another breathtaking attraction
awaits. A brand-new garden,
‘Dreamscape’, harmoniously Diners can enjoy their meals under natural light and flora at the new Gourmet Garden.
28 ANNUAL REPORT 2023/24

UNVEILING THE
WONDER OF TERMINAL 2
TO THE WORLD

Other notable F&B brands included

popular ramen chain, Keisuke
Ramen, which set up its outlet for
the very first time in Changi. New-
to-Changi concepts included A-Roy
Thai, JINJJA Kitchen, Kenangan
Coffee, Cafe O, Swensen’s
Unlimited and XW Western Grill,
which provided fresh dining options Travellers can sample new whiskey selections while relaxing at the Forest of Li Bai.
such as buffets.

For passengers looking to dine in Lotte Duty Free Wines & Spirits they can also snap selfies with
natural settings, the new Gourmet renovated the double-storey images of renowned K-pop artists
Garden in T2’s transit area offers store and infused it with several using an intelligent selfie mirror.
a unique experience with an
new features, including a robot
expansive view of the apron and T2 recognised for its
bartender, Toni. The store features
verdant foliage cascading overhead. excellence
a unique 30-metre LED ring above
The dining area showcases
the bar, displaying scenes inspired
Singapore’s distinctive flavours, T2 expansion project won the
including The Satay Club by Harry’s, by the work of Tang dynasty poet,
Building and Construction
Wee Nam Kee Chicken Rice, The Li Bai – ‘Drinking Alone Under Authority’s (BCA) Universal
Hainan Story Bakery, CRAVE Nasi the Moon’. The ‘Forest of Li Bai’ Design Excellence Award for its
Lemak, Old Chang Kee and Hard located at Lotte’s upper level design and user-friendliness, a
Rock Café. allows passengers to experience 18 strong recognition to its intuitive
whiskey varieties from a dispenser and inclusive design features
To delight passengers with a wall and bask in the vibrant hues of that strives to provide comfort
penchant for wines and spirits, the LED video ceiling. In addition, for all passengers and visitors.
Additionally, it was awarded the
BCA Green Mark Platinum for its
sustainability features, attesting
to the highest level of
environmental performance.

2 Bears Hideout is
a new play area for
young travellers in T2’s
departure transit hall.
 CHANGI AIRPORT GROUP 29

ENHANCING THE
CHANGI EXPERIENCE

Amid robust resurgence in travel fewer bottlenecks, with arrival operations more efficient. It
in financial year 2023/24, CAG automated lane usage among introduced autonomous cleaning
continued to deliver exceptional arriving passengers soaring to a high robots in Terminals 2 and 4 to
service to its passengers. In of 75%. enhance its cleaning processes.
recognition of its relentless These robots can automatically
commitment to service excellence, In preparation for the New follow a programmed path to
Changi Airport won four Airport Clearance Concept (NCC), which effectively sweep and vacuum
Service Quality (ASQ) awards from will allow departing passengers to assigned locations without the
Airports Council International in clear immigration using biometric need for human intervention,
2023. In the Asia-Pacific region, data without the need to show generating up to 30% in manpower
Changi was named Best Airport their passport, CAG embarked on savings. CAG plans to scale up
(over 40 million passengers), an immigration hall revamp across the deployment of such robots in
Airport with the Most Dedicated Terminals 1, 3 and 4 to install ICA’s Terminals 1 and 3.
Staff, Easiest Airport Journey, and new automated gates. The NCC
Cleanest Airport. These awards pilot was launched in Terminal 2 As CAG moves towards more
attest to Changi’s dedication (T2) in April 2024 and will be rolled dynamic, time-critical, responsive
to delivering a top-class airport out progressively to all terminals and data-driven airport operations,
experience. in 2024. it also rolled out its new Enterprise
Data Platform Plus (EDP+)
Strengthening partnerships To rebalance traffic demand and to transform data collection,
for smoother journeys optimise capacity across the four processing and analysis from the
terminals, CAG conducted multiple traditional post-event mode, to
CAG collaborated with the intra-terminal and inter-terminal near real-time. This enables CAG
Immigration & Checkpoints airline relocations. A series of tests to achieve a much higher level of
Authority (ICA) to enhance the and flight trials with airlines such as operational excellence in areas
Automated Clearance Initiative. Etihad Airways, United Airlines and such as situation awareness, real-
Automated lane eligibility Vietnam Airlines was implemented time monitoring and alerts, and
was expanded to 60 foreign to ensure a smooth cutover to the systems and service recovery.
nationalities, and 16 more new operating terminals. The availability of time-critical,
automated lanes were deployed processed data in this new
across Terminals 1 and 3’s arrival Leveraging technology integrated platform presented new
halls. In August 2023, auto- for efficiency opportunities for innovations to
clearance for non-biometric enhance manpower productivity
passport holders was also rolled As a company focused on and user experience. As a result
out. These efforts resulted in innovation, CAG constantly of these achievements, CAG was
faster immigration clearance and looks for new ways to make its named the ‘Team of the Year –
30 ANNUAL REPORT 2023/24

ENHANCING
THE CHANGI
EXPERIENCE

Free bicycle rides allowed layover

passengers to explore Changi’s vicinity,
such as the Changi Jurassic Mile.

Innovation’ by CIO ASEAN at its with layovers of at least 5.5 hours, and a gingerbread house. Daily
CIO100 Award ceremony held in allowing them to explore nearby multisensory snowfalls and live
October 2023. attractions such as the Changi entertainment delighted visitors
Jurassic Mile and East Coast Park. and passengers alike.
Refreshing traveller and
visitor experiences For the fourth consecutive year, Visitors to Candy Carnival were also
CAG hosted the Changi Festive treated to over 50 confectionary-
In 2023/24, CAG continued to
Village as part of the year-end themed game booths and 18
enhance the traveller experience
festivities to engage airport visitors. themed rides. Crowd favourites
beyond traditional airport
like the bouncy castle, go-karting
boundaries. The Free Bicycle Rides The latest instalment in November
attraction and the snow house made
campaign, launched in November 2023 attracted over 350,000
their return, sweetening visitors’
2023, was well-received and saw visitors. The departure hall at
experiences. The Candy Snow
nearly 1,500 bookings over a Terminal 3 (T3) was transformed
House provided a sub-zero winter
five-month period. The year-long into an insta-worthy Candy
getaway for visitors, inviting them
campaign offered a free two-hour Wonderland, featuring a cupcake
to make merry with snow slides,
bicycle rental service to passengers Ferris Wheel, a Christmas bear, ice sculptures and sports games.
Carnival goers also filled their bellies
with tasty carnival fare from more
than 10 food trucks and stalls.

A notable addition to 2023’s

festivities was the virtual extension
of the Changi Festive Village on
Roblox. CandyVerse, a replica of
T3’s real-world Candy Wonderland,
delighted ‘airport visitors’ in the
virtual world. Over 384,000 global
participants explored the virtual
land of sweets and competed to win
special edition prizes, including a
1.2-metre-tall toy bear plushie.

Shoppers could also purchase

Innovative horticulture displays often adorn Changi’s terminals during festivals, such as Deepavali. candy-themed premiums with a
 CHANGI AIRPORT GROUP 31

minimum spend during the festive presented the top two awards:
period. These Changi-exclusive Service Personality of the Year
items ranged from travel accessories and Service Partner of the
to an adorable plush bear. Year. The latter was awarded
to P-Serv for the organisation’s
Throughout the year, CAG created dedication to cultivating a multi-
CAG honoured
memorable experiences for visitors skilled workforce, and leveraging outstanding
with thematic horticulture displays technology to elevate passenger
during festivals such as Eid al- service standards throughout the
individuals
Fitr, Lunar New Year, and Mid- pandemic. in the airport
Autumn Festival. The Deepavali
and Christmas displays garnered community for
The ONE Gracious & Green Changi
social media traction, with over campaign was also launched in their exceptional
732,000 and 430,000 engagements May 2023 to nurture a caring
respectively. contributions
airport environment and promote
sustainability among staff. Over and unwavering
Strengthening the ONE
Changi community
800 airport staff attended the
dedication to
special carnival featuring games
CAG continued to strengthen and learning stations. To support delivering the
its partnership with the airport the special needs youth from Metta Changi Experience.
community. In February Welfare Association, sustainable
2024, Changi’s Annual Airport products made by them were put
Celebration returned full-scale on sale during this special occasion.
for the first time since Covid-19. Representatives from Smarte Carte,
The event honoured outstanding one of CAG’s ONE Changi partners, Golf event to support the building
individuals in the airport also came onboard as green of Maitri School, a new Special
community for their exceptional ambassadors during the carnival. Education School for students with
contributions and unwavering moderate to severe autism. The
dedication to deliver the Changi CAG constantly seeks new event raised S$500,000 with the
Experience. Twenty-one awards avenues to make a difference to overwhelming support of over 70
were given across five categories. the community, with its airport airport partners, a true testament
Transport Minister Chee Hong partners. It hosted the inaugural to the collective impact the ONE
Tat graced the ceremony and Changi Airport Community Charity Changi community can make.

Changi’s Annual Airport Celebration recognises exceptional acts of service from the ONE Changi community.
32 ANNUAL REPORT 2023/24

TRANSFORMING
AIRPORT OPERATIONS

As air traffic continues to grow and Aviation Authority of Singapore uses artificial intelligence (AI) and
passenger expectations increase, (CAAS) for a series of audits to machine learning to enhance the
CAG doubled down on innovation be conducted to assess that speed and accuracy of security
and investments in technology regulatory requirements across screening for hand-carry baggage.
to keep safety standards high, documentation, operations, The system also improves the
while strengthening its overall facilities and infrastructure were speed of security clearance, and
operational resilience. well met, and that CAG’s Safety allows for optimised deployment of
Management System was robust. manpower resources.
Safety and security as key
priorities On 1 December 2023, CAG Remaining ever-ready for
successfully reopened Runway emergencies
Safety and security remain 2, which had undergone a
paramount at both Changi and significant improvement, including Being able to respond quickly to
Seletar airports. To continue the construction of connecting an emergency is key to airport
promoting a strong safety culture taxiways. This process was business continuity at both Changi
within the airport community, CAG stringently managed to ensure and Seletar airports. To this end,
held the 7th Airport Safety Awards that the proceedings were CAG continued to explore new
programme to recognise notable compliant with strict regulatory ways to improve its capabilities
safety acts and safety innovation. standards. Particular focus was and protocols, and to be ready to
The programme saw over 600 placed on design and construction respond to unexpected situations
airport staff being appreciated for considerations, safety controls, and at a moment’s notice.
their contributions. It was well- system readiness. An upgraded
received by the airport community iFerret 2.0 system, with improved During Exercise Bobcat – the
because of the strong focus on automated runway surface annual full-scale aircraft crash
safety amid the rapid recovery of air Foreign Object Debris detection exercise at Changi Airport – teams
travel post-Covid. capabilities, was also commissioned took the opportunity to evaluate
as part of the runway’s reopening. the effectiveness of their crisis
Compliance with aviation These initiatives improved aviation protocols under realistic conditions.
regulations was another key focus safety and operational efficiency at Involving more than 20 agencies
for CAG throughout the year. Changi Airport. and over 200 role-players, Exercise
CAG began the renewal process Bobcat 2023 marked the first time
for the aerodrome certificates of On the security front, CAG where CAG was able to simulate
both Changi and Seletar that takes commenced trials for the the actual steps in deploying
place every five years. Guided by Automated Prohibited Items field teams from the Immigration
the Aerodrome Recertification Detection System (APIDS) to lift & Checkpoints Authority to
Steering Committee, the team Changi Airport’s security screening facilitate immigration clearance
worked closely with the Civil technology to the next level. APIDS of hospitalised passengers and
 CHANGI AIRPORT GROUP 33

reuniting these passengers Clearance Station and the Private undertaken – the first since
with their next-of-kin at Changi Matching Area. Following the Changi started operations in 1981.
General Hospital. success of the trial, the full system Careful planning was required
was also deployed during Exercise for this project as the bearing
The exercise also served as a Bobcat at Changi Airport. replacement works had to be
testbed for new technologies that completed during off-peak periods
could better assist the Airport Engineering solutions for to minimise disruptions to daily
Emergency Service (AES) Division the future airport operations and 24/7 traffic
in their response efforts. For flow along Airport Boulevard.
CAG continued to ensure the With the support and input from
example, the CASEVAC (casualty
resilience of infrastructure and
evacuation) Bot, which can multiple stakeholders, works were
facilities to future-proof Changi
autonomously convey injured successfully completed, extending
Airport in anticipation of increasing
passengers to a safety zone, was the serviceability life span of the
travel demand.
upgraded to assist firefighters in bridges by another three to
the physically demanding work of four decades.
Airfield infrastructure expansion
laying close to 150 metres of water
works were completed in the
lines. The robots free up precious Besides infrastructure
year in tandem with strong traffic
AES capacity to focus on the improvements, innovative
recovery post-Covid. To handle
lifesaving rescue efforts, addressing solutions were trialled to improve
growing aircraft movements at
limitations around manpower productivity. The fully-automated
Changi, CAG brought forward the
and endurance. passenger loading bridge, which
completion of four new aircraft
leveraged technology to dock
parking stands strategically located
Similar enhancements were the aircraft safely at the touch
in front of Terminal 1 and the
trialled during Seletar Airport’s of a button, would help to free
Changi Airfreight Centre. The
full-scale crisis exercise, Exercise up airside staff from the current
completed stands augment Changi’s
Bear, where uninjured passengers manual process. It enables airside
capacity to handle layover parking,
were processed at a new off-site staff to focus on other critical
cargo operations, and remote
location. The reconciliation of these passenger flight operations. tasks, and deliver faster and
uninjured passengers with their consistent docking operations
loved ones was shortened through Separately, a project to revitalise through simultaneous automatic
an enhanced online incident the structural bearings of aircraft door detection.
reporting platform, AES E-Net, four key aircraft and vehicular
that enabled real-time sharing of bridges across the roads that Many underground services, such
information between the Casualty lead to Changi Airport was also as airfield lighting and high-tension
electrical cables, run hundreds of
kilometres under the airfield. To
facilitate upkeeping layout plans
for underground services, CAG’s
Engineering and Development
Cluster created the Augmented
Reality Underground Service
Visualiser (AUSV), a mobile
app that digitally captures and
presents the coordinates and
routes of underground cables in
augmented reality. This enables
on-site maintenance staff to easily
identify their position in real time
and examine below-ground with
‘X-ray eyes’. In turn, this has made
maintenance and repair work
AES firefighters practised their emergency response as part of Exercise Bobcat 2023. more efficient.
34 ANNUAL REPORT 2023/24

TRANSFORMING work environment in the Built-

AIRPORT OPERATIONS Environment sector, which is in line
with CAG’s existing practice.

Seletar Airport
Over at Seletar Airport, the
Single Runway Frequency was
implemented in July 2023 to
improve runway safety. Rigorous
training and tests were conducted
for drivers operating runway
vehicles for a smooth transition to
this new system. Pilots were also
briefed on the updated procedures
to operate under this new
arrangement.

As part of trials to enhance safety

and maintenance efficiency,
Seletar Airport employed tethered
drones to inspect and detect visual
CAG’s management, advisors, employees and Seletar Airport’s partners gathered at Seletar’s Old
Passenger Building. abnormalities on high masts. These
checks were conducted during both
day and night conditions. In addition,
grass cutting robots were deployed
These in-house innovations were Supporting national initiatives across six areas at the airside, with
huge steps towards making the accompanying studies on potential
airfield operations and maintenance In line with the national push to
time and manpower savings. To
regime future-ready, safer and more strengthen Singapore’s air border
boost the passenger experience,
productive. surveillance of both cargo and air
the Seletar team also collaborated
travellers, Home Team Science and
with the Shopping Concierge and
Over in the public area, Technology Agency appointed CAG
iShopChangi teams to launch
the increased demand for as a project manager to construct
e-commerce services.
accommodation at Changi prompted a laboratory facility in Changi
CAG to explore the idea of Airfreight Centre. The lab allows for All in all, these trials reflected Seletar
developing a new hotel above the requisite biological and chemical Airport’s drive to continuously
existing coach stand at Terminal tests to be carried out on demand, improve its operational efficiency
2 (T2). The hotel would serve the and is expected to be completed by and customer satisfaction.
modern traveller’s market segment the first quarter of 2025.
and complement the existing In financial year 2023/24, the
Crowne Plaza airport hotel facility CAG is also among the pioneer former Seletar Airport Passenger
located at Terminal 3 (T3) as well batch of private entities in the Terminal Building was reinstated and
as other parallel developments at construction industry to adopt refurbished to prepare the facility
the Changi Precinct. To this end, a collaborative form of contract to be handed over from CAAS, to
a technical feasibility study was for the refurbishment of Express the Singapore Land Authority. As
commissioned while CAG’s business Courier Centre 2. This collaborative Singapore’s first civilian airport, a
development team simultaneously contract focuses on fairer risk commemoration event was held in
assessed the commercial viability allocation and helps to foster April 2023 to mark its significance in
of this project. With these a partnership approach with Singapore’s aviation history. CAG’s
prerequisites met, CAG launched CAG’s business partners. The management, advisors, employees
the hotel development tender to collaborative contracting initiative and Seletar Airport’s partners
invite interested investors, with a also supports Singapore’s Building gathered for a final visit to this
working goal of having the hotel and Construction Authority’s historic site before its closure to
operationally ready by 2027. drive to build a more harmonious the public.
 CHANGI AIRPORT GROUP 35

BUILDING
CHANGI’S FUTURE

In financial year 2023/24, out an extensive upgrade to the dolly to carry unit load devices
CAG continued to develop the existing runway, including the (ULD), the latest Auto-DollyTug®
Terminal 5 (T5) design and started construction of new taxiways, can rotate on its own and use its
preparations for its construction, improvements to the airfield groundbreaking sideways drive
which is expected to start in lighting control systems, as well system to move sideways into
early 2025. Concurrently, CAG as additional navigational aids. tight spaces. This enables the swift
continued to work on T5’s The drainage system was also delivery of a single ULD even with
dedicated airside road tunnel and redesigned to cope with climate other ground support equipment
inter-terminal tunnels. change. close to the aircraft. This automates
the task of driving baggage
Integrating T5 with existing In December 2023, Runway 2 tractors and transporters, aimed
terminals reopened, allowing aircraft to at alleviating manpower shortages
reduce the taxiing distance to faced by ground handling agents.
When T5 opens in the mid-2030s, Automating airside processes
the terminal buildings. When
passengers will be connected to the can also create opportunities to
the 3-runway system becomes
other terminals in Changi Airport improve baggage delivery efficiency
operational, it will significantly
and baggage will be transferred and enhance passenger service
increase Changi Airport’s aircraft
across terminals. To facilitate these levels.
handling capacity.
connections, CAG has started the
construction of an annex building
at T2, known as the T2 Connection. Transforming future airport
It will house the future interchange operations
for the baggage handling system,
CAG will need robotics and
as well as a station and depot
solutions to automate the handling
for the automated people mover
processes in airport operations
system. The T2 Connection will
where possible. In collaboration
also be linked with the inter-
with Aurrigo, a leading international
terminal tunnels, ensuring efficient
provider of airport transport
baggage movement and a seamless
technology, CAG has been trialling
passenger transfer experience
the use of the Auto-DollyTug®,
between T5 and other terminals in
the latest version of its electric-
the future.
powered autonomous individual
baggage trailer, at Changi Airport.
Reopening of Runway 2
Changi Airport is the first in the world
to test the Auto-DollyTug’s ability to
Following the closure of Runway Combining the utility of a baggage autonomously load and unload ULDs at the
2 in December 2020, CAG carried tractor and capability of an airport aircraft stand.
36 ANNUAL REPORT 2023/24

CURATING MAGICAL SHOPPING

AND DINING MOMENTS

With Changi’s passenger traffic Injecting excitement into the qualify for a chance at S$1 million
picking up pace steadily over everyday with airport-wide in cash or a Porsche Macan in the
the past year, there was an initiatives Grand Draw event to be held in the
improvement in retail growth with second half of 2024.
concession sales reaching over In June 2023, ‘Be A Changi
S$2 billion in 2023. Millionaire’ made its long-awaited From September 2023 to February
return after a three-year hiatus. 2024, the ‘World of Wines and
Changi’s exciting retail mix also For the first time, shoppers did Spirits (WOWS) returned for its
continued to grow swiftly, with not have to meet a minimum second edition after a successful
over 150 leases awarded, including spend to take part in this year- run the year before. The event
long airport-wide retail campaign. boasted a collection of over
more than 40 being new-to-Changi
This broadened participation 100 premium and rare liquor
brands in the past financial year.
and allowed even more shoppers products from nearly 60 globally
CAG worked closely with tenants to
acclaimed brands, available for
bring vibrancy and footfall to Changi across Changi Airport, Jewel and
purchase on the WOWS online
Airport’s shopping and dining iShopChangi a chance to win daily
portal. Both the masterclasses and
landscape through a curation of instant prizes, such as S$1,000
VIP event at Capitol Theatre in
campaigns, activations, new stores cash, air tickets and staycations.
October 2023 featured immersive
and innovative experiences. Shoppers who spend above S$50
culinary experiences, with brand
ambassadors sharing exclusive
insights into the appreciation of
spirits and Michelin-starred chefs
uniting their culinary prowess to
specially craft exquisite menus
for attendees.

To grow the in-airport advertising

business, new digital assets were
launched in prominent sites, such
as the high-definition LED displays
in Terminal 2’s (T2) departure hall,
the 360 digital gateway at Terminal
3 (T3), and screens at T2 and T3
Jewel link bridges. These displays
allow advertisers to maximise
The WOWS VIP event in October 2023 was attended by 420 invited guests from Changi brand exposure using high
Rewards, Lotte, and other Changi partners. impact visuals.
 CHANGI AIRPORT GROUP 37

Tailoring unforgettable retail equally impressive T3 equivalent

experiences for travellers also features their state-of-the-art
robotic bartender. Unique to the
Targeted campaigns were tailored T3 store is an interactive sommelier
to recapture the interest of Chinese
travellers, especially with the
which helps visitors select the wine Innovative man-
most suited for their palate.
reopening of China’s borders in early less concepts
2023. Campaigns were rolled out
during key travel seasons, including
Changi continued to wow customers continue to debut
beyond Singapore’s shores with
Lunar New Year and Golden Week, retail innovations such as the in the transit
in partnership with major payment
providers preferred by the Chinese,
Changi Pay digital wallet’s new areas, bringing
overseas payment feature. Launched
resulting in an encouraging uplift in in September 2023, Singapore convenience
sales. residents can now pay like a local at
to passengers,
tens of millions of Alipay merchants.
Changi 1st activations continued First rolled out for use in China, it and increasing
to delight travellers with exclusive allows Changi’s customers to take
launches of the latest limited- advantage of the local preference
manpower
edition products and exceptional for QR payments. The service has productivity.
shopping experiences. Over the since been expanded to other
past year, there were 15 Changi Asian countries, such as Japan and
1st collaborations with brands like Malaysia, and will be expanded to
KILIAN Paris, House of Suntory, and even more countries in 2024. than 100 off-airport merchants
Jo Malone London, creating overall across categories, such as beauty,
increased demand especially in the Diversifying Changi’s electronics, wellness and more.
liquor and beauty categories. e-commerce business to
anticipate customer needs Campaigns, such as the inaugural
A myriad of new shops and concepts ‘Tax AbsorbMania’, where
have also been introduced in Changi Airport’s e-commerce participants could exchange the
transit to rejuvenate the passenger platform, iShopChangi, made strides Goods and Service Tax (GST) in their
experience, ranging from top luxury in growing the business in the last receipts for iShopChangi credits,
labels like Bulgari, Cartier, Qeelin year, doubling its offered brands as well as partnerships with local
and TODS, to beloved lifestyle to over 2,000, including more brands, propelled iShopChangi into
brands like LEGO and MLB Korea.
Local offerings also made their
debut to showcase the specialties
of Singapore, including jeweller
Asian Artistry and wellness service
Natureland Spa.

Innovative man-less concepts

continue to debut in the transit
areas, bringing convenience Beyond Lotte
to passengers, and increasing Duty Free’s T3
flagship store’s
manpower productivity. These
grand façade
include ELLA, a fully automated lies innovative
robotic barista at T2 and T3, as retail-tainment
like a robotic
well as the AI-powered, unmanned bartender and
Hydrate convenience store at T3 interactive
which allows customers to purchase wine
sommelier.
hot drinks, snacks, souvenirs and
more with one tap of their credit
card at the entrance. Like Lotte
Duty Free’s flagship store in T2, the
38 ANNUAL REPORT 2023/24

CURATING MAGICAL playground and playful otter-

SHOPPING AND themed photo spots.
DINING MOMENTS
A plethora of shopping and dining
campaigns keep Changi’s landside
constantly abuzz with activity.
‘Feast at Changi’ coincided with the
opening of new dining options at
T2, incentivising visitors to spend
S$60 via Mastercard on Changi Pay
at Changi’s F&B outlets to receive a
S$10 Changi Pay return e-voucher.
The highly anticipated ‘2XGST’
campaign made its return in August
2023 and again in January 2024,
providing shoppers some reprieve
from the hike in GST. On top of
GST-absorbed prices, Changi
Rewards members also enjoyed an
additional 9% off their purchases
The highly anticipated ‘2XGST’ campaign allows Changi Rewards members to enjoy additional
discounts on top of tax-absorbed purchases with a minimum spend.
with a minimum spend. For the
2024 Lunar New Year celebrations,
Changi introduced more retail
the top three of YouGov’s ‘October to curate a selection of over 1,000 excitement with its red packet gift-
2023 Biggest Brand Movers’ for the products to be sold to travellers, with-purchase promotion, festive
first time and contributed to more allowing them to successfully feasting campaign and two-hour
than 20% of iShopChangi’s traverse both segments while free parking promotions.
new customers. providing more variety to travelling
shoppers. ST3PS, T3’s public auditorium, was
To further widen its customer base, a hive of activity over the course
sales channels were expanded to Revitalising public areas to of the year. Daily movie screenings
and live football matches kept
serve passengers travelling through make Changi a go-to lifestyle
Seletar Airport and airlines. A both first-time visitors and regulars
destination
special partnership with ZIPAIR coming back for more. Weekly yoga
made iShopChangi the airline’s A regular cadence of exciting events lessons, exhibitions, National Day
in-flight tax and duty-free sales and promotions helped to position and Christmas celebrations add
retailer, allowing passengers to Changi Airport’s public areas as a life to the space, also bringing in
make purchases six hours, or earlier, must-visit location for local visitors footfall to the surrounding shops.
online or in-air, before their arrival and travellers.
flight landing time and collect their To meet the varied needs of Changi’s
purchases upon arrival at Changi During the 2023 June school visitors and travellers, the JustCo
Airport or have purchases holidays, CAG collaborated with co-working space was opened at
delivered to their residence. Hasbro Gaming to turn T3’s T3 in October 2023. As Asia’s first
departure hall into a wonderland pay-per-minute co-working centre
New non-traveller services like on- of larger-than-life board games, in an airport with traveller-friendly
demand, same-day delivery and gift- such as ‘Monopoly’, ‘Connect amenities, the space includes a
wrapping were launched to cater 4’, and ‘Game of Life’. A ‘Hungry mixture of 70 private offices, 45
to last-minute and special occasion Hungry Hippos’-themed inflatable pay-per-use workstations, an event
needs, offering convenience, playground, photo spots, and space and napping pods. To date, all
personalisation, and reliability to exclusive premiums also added to private offices have been leased out,
customers. the fun. Similarly, the 2024 March and the meeting rooms and event
school holiday’s ‘Explore and Play spaces also serve as alternative
Through iShopChangi, non-airport at Changi’ enticed visitors to T3 venues for airport staff to host
retail merchants have also been able with a whimsical tropical forest corporate activities.
 CHANGI AIRPORT GROUP 39

ENHANCING DIGITAL
ENCHANTMENT

In financial year 2023/24, CAG push notifications on their flight at participating venues across
launched several initiatives to and baggage status. Changi Airport’s terminals and
personalise and enhance different Jewel. They can also pre-book
digital journeys for customers. To encourage even more travellers tickets to various airport events
These initiatives underscore to explore this new feature, and attractions, as well as redeem
CAG’s commitment to delivering CAG launched a 12-month benefits with Changi Rewards
exceptional customer experiences, campaign, ‘The Great Changi points earned from spending
enriching engagements, and Appscapade’, in November 2023. across the terminals, Jewel and
setting new benchmarks in digital Customers who save their flights iShopChangi.
innovation on the world stage. using the Changi App stand a
chance to win four business class Following the upgrade, the app’s
App-solutely magical: Changi tickets to a destination revealed monthly active user base increased
App upgrade takes flight at the start of each month, along by nearly 30%. Leveraging modern
with instant-win prizes such as modular technical architecture,
The Changi App went through Changi Rewards points and Changi the app’s new build will enable
a milestone transformation, Pay vouchers. CAG to scale the app, and drive
reflecting its pivotal role in CAG’s productivity and efficiency by
digital ecosystem. CAG introduced Changi App users are also able delivering more features and
a new brand interface, enhancing to make restaurant reservations updates faster and more flexibly.
the app’s user-friendliness and
making it even easier to navigate.
This upgrade enables customers
to use the app more seamlessly for
travel, shopping and dining.

Previously known as iChangi, the

revamped app offers customers
a host of new and enhanced
features to provide a seamless
and stress-free journey through
Changi Airport. For example, when
customers save their flight details
on the app, they now receive
personalised travel information,
recommendations for relevant
facilities and services, travel
checklists, advisories and helpful The revamped Changi App seeks to deliver the magic of Changi to customers’ fingertips.
40 ANNUAL REPORT 2023/24

ENHANCING DIGITAL on customers’ preferences and their exclusive items or areas. Anchor
ENCHANTMENT interactions with Changi Airport. games such as the Changi Kart
racing game and Gardentopia
Reinventing the gardening game were also
Changi Experience designed to put a whimsical twist
on the Changi Experience. Other
Personalised communications To enhance engagement with its activities players can enjoy include
with My Travel Journey customers and strengthen Changi bouncing on clouds, customising
Airport’s position as more than planes, chilling in glamping tents
CAG enhanced its ‘My Travel a transport node, CAG launched that celebrate festive seasons, or
Journey’ programme with the ChangiVerse on Roblox, becoming relaxing a bustling café.
vision of providing personalised one of the first airports to officially
information to customers who launch a virtual world on the Since its launch, ChangiVerse
would be travelling soon, to platform. Developed in partnership has seen more than nine million
help them in their journey to with Accenture, ChangiVerse visits and over three million digital
and through Changi Airport. The revolutionised the online airport wearable redemptions.
programme was the outcome of a experience by giving fans of
strategic review of Changi Airport’s Changi, or those who have not had
customer engagement journey
Transforming search:
the chance to travel through the
that involved 14 cross-functional
enabling a seamless and
airport, the opportunity to explore,
teams within the organisation. efficient digital experience
interact, and engage with Changi
The goal was to unify individual Airport in the digital space. Customers experienced a
digital touchpoints to create a more smoother and more efficient
cohesive and holistic experience for ChangiVerse complements the search function on the Changi
our customers. on-ground experience at Changi App over the past year. The
Airport by playfully reimagining implementation of a unified
The results were positive, with notable sights such as the Changi search engine in February 2024
the net promoter score for the control tower, Terminals 2 and 3, ensured consistent, reliable and
programme showing a 17% Jewel, Jurassic Mile, among others. relevant search results. Similar
improvement from the previous The virtual world also features enhancements for changiairport.com
year. Looking ahead, there are plans mini-games that simulate airport are planned for the coming year.
to expand the programme to cover experiences like flight check-in
non-travel customer journeys, and and baggage claim, with players This effort set the groundwork
to use marketing technology to accumulating experience points for further improvements, with
drive more personalisation based to level up and gain access to the second phase focusing on AI-
powered algorithms to drive search
capabilities as Generative AI and
chat capabilities are concurrently
explored. These enhancements
aim to provide customers with
an intuitive and precise search
experience across these key digital
platforms.

Working through challenges such

as evolving user search behaviours
and the need for ongoing algorithm
optimisation, CAG aims to provide
customers with a consistent,
flexible, and user-friendly search
experience, allowing customers
CAG launched the 12-month ‘The Great Appscapade’ campaign to encourage customers to use to find easily find the information
the Changi App to save their flights. that they seek.
 CHANGI AIRPORT GROUP 41

ENHANCING
TRAVEL SERVICES

Established in 2012, Changi In the past year, Changi Mobile,

Travel Services (CTS), a wholly- the Mobile Virtual Network
owned subsidiary of CAG with Operator business arm of CTS,
the mission to enhance travel has made significant progress in
services, has continually evolved expanding its telecommunications
to meet the dynamic needs of services to new market segments. Over the year, as
travellers. Through its consumer- Changi Mobile has not only refined
facing brand, Changi Recommends, its existing plans to cater to the global air travel
CTS has positioned itself as diverse needs and profiles of the continued on its
a one-stop shop for all things Singapore market, but has also
travel, committed to delivering expanded its offerings to attract uptrend, CTS has
exceptional travel solutions aimed tourists with new travel plans, seen a steady
at simplifying travel and enhancing upsized data options of up to
connectivity for customers 100 GB and roaming options. The recovery in its
worldwide. Over the year, as global business has seen a significant business to pre-
air travel continued on its uptrend, growth in its subscriber base, with
CTS has seen a steady recovery in a notable 17% increase compared Covid levels.
its business to pre-Covid levels. to the previous year.

Staying ahead of the latest

industry trends, Changi
Recommends introduced the
Changi Travel eSIM and Changi
i-SIM as more travellers took to
the skies, establishing it as one of
Singapore’s leading travel eSIM
providers. These versatile global
travel SIM cards give customers
the flexibility of topping up on-
the-go and as needed, eliminating
the hassle of buying multiple SIM
cards. Within the first few months
of the launch of these SIM options,
Changi Recommends emerged
as one of the top travel eSIM The Changi Travel eSIM is among the new products introduced by Changi Recommends this
providers in Singapore. year.
42 ANNUAL REPORT 2023/24

GLISTENING GEM
DAZZLES VISITORS

As global air travel continues to China, Malaysia, Taiwan, The United of both local and international
rebound, Jewel Changi Airport States of America and Indonesia. brands, leading to a significant
(Jewel) is gleaming with many boost in sales.
growth possibilities. Jewel More than 70 new brands spanning
registered a 26% uptick in footfall various categories also opened in Exclusive events build
in financial year 2023/24 compared Jewel in 2023/24. This included brand love
to the previous year. Overall brands like Nesuto and PS Café,
sales also grew by 20%, and even Agnes B, Goelia and Polo Ralph Fans and enthusiasts of comic
surpassed pre-Covid levels. Of the Lauren, Grand Seiko, Tudor, Tag superheroes The Avengers
total footfall registered, 30% were Heuer and Watches of Switzerland, flocked to Jewel at a large-scale
overseas travellers, with the top as well as Minmed Wellness Marvel-themed activation from
five nationalities being tourists from Collective and Natureland. Of the May to August 2023. Avengers
new entrants to Jewel in 2023/24, Assemble at Shiseido Forest
16 were new-to-market brands. Valley showcased some of the
most popular action characters,
Riding the wave of air travel including a 5-metre tall Iron
recovery, Jewel embarked on Man display, and kept visitors
several large-scale marketing enthralled with 3D installations and
activations and refreshed the interactive displays. The fanfare
tenant mix with an exciting lineup did not end at the Shiseido Forest
Valley. Those who wanted a more
comprehensive history of The
Avengers continued their Marvel
adventure at the ‘Avengers Forever’
exhibition held at the Canopy Park.
Online buzz for The exhibition paid homage to 60
the Super Mario- years of The Avengers by featuring
themed activation
reinforced Jewel as key milestones of the action series
a global destination from comic books to television,
for innovative toys and movies.
and captivating
experiences.
With Jewel’s attractiveness as a
global travel and retail destination,
it was selected by century-old
Japanese company, Nintendo, to
host a short-term pop-up store.
Building on this significant leasing
 CHANGI AIRPORT GROUP 43

milestone, Jewel worked with Besides having the chance to Compendium Spirits, offering a
Nintendo to curate a first-of-its- admire captivating blooms, botany blend of traditional and modern
kind event ‘Pipe Around the World lovers also engaged in a series of culinary delights. This unique
at Jewel’ during the travel and floral-themed activities. Jewel also retail experience mixes local
holiday season. held the Youth Floral Cup – a floral craftsmanship with diverse
design competition for budding offerings to enhance Jewel’s
Tapping the global popularity of florists between the ages seven vision of ‘where the world meets
the iconic video game franchise, and 12. Singapore and Singapore meets the
this Super Mario-themed activation world’. It also further entrenches
brought much excitement to Strategic partnerships Jewel as the Singapore mall with
legions of loyal fans in Singapore the largest representation of
Jewel, in collaboration with
and international travellers alike. Its homegrown brands.
the Singapore Tourism Board,
cross-generational appeal not only
unveiled an exciting retail cluster
attracted visitors seeking festive A touch of royalty
in December. The ‘Discovering
entertainment, but also created a
the Best of Singapore Brands’
sense of anticipation and curiosity Jewel’s fame as a lifestyle mall
hub offers a curated selection
among both locals and tourists. The nestled amid lush greenery also
of top Singaporean brands,
meet-and-greet sessions featuring attracted attention from royalty. A
showcasing products ranging from
beloved Super Mario characters, Kensington Palace representative
spirits and snacks to pastries and
Mario and Luigi, proved to be reached out to arrange for British
confectionery. Some brands, like
crowd pullers, with enthusiastic Prince William to visit Jewel
Anthology of Compendium Spirits
fans forming snaking queues for alongside an event he was due
and Keong Saik Bakery, offer
that Instagram-worthy photo from to attend in Singapore. Jewel
exclusive items available only at
their memorable visit to Jewel. worked closely with the palace’s
Jewel. Spanning 370 square metres,
the cluster is strategically located team, from security matters to
Visitors also soaked up the festive media coordination, culminating in
near the early check-in lounge for
mood in the captivating Christmas- a successful visit to Jewel where
travellers’ easy access.
themed light and sound show, Prince William met local residents
snowfall experience and festive who had gathered early at the
The cluster’s open-concept
light-up at Canopy Park. The iconic Shiseido Forest Valley in eager
layout creates a visually appealing
16-metre Christmas tree at the anticipation of his arrival. A Tembusu
shopping environment and
entrance of the Shiseido Forest tree, a native species of Singapore,
visitors can enjoy novel dine-in
Valley, sponsored by Alipay+, had experiences from brands like Ya was planted in his honour to
a unique feature that allowed Kun Kaya Toast and Anthology of commemorate his visit to Jewel.
visitors to select their favourite
lighting display and see it projected
onto the tree via interactive kiosks.

Online buzz for this event continued

throughout the entire campaign
period, reinforcing Jewel as a global
destination for innovative and
captivating experiences.

Prior to the December holiday

activation, Jewel also launched its
first flower festival in September
2023 – ‘Jewel Blooms: Splendours
of Singapore’. It showcased an
exquisite collection of 10 floral
displays by Singapore’s renowned
floristry talents, each measuring
1.5metre in width and height.
Visitors flocked to Jewel to catch a glimpse of royalty when Prince William visited last year.
44 ANNUAL REPORT 2023/24

BRINGING CHANGI’S
EXPERTISE OVERSEAS
Cam Ranh International Airport

Changi Airports International (CAI) In India, CAI holds a 30% stake for cargo and maintenance, repair
has investments and consultancy in Bengal Aerotropolis Projects and operations (MRO) facilities.
projects in several countries. Limited, which develops Durgapur
Aerotropolis, India’s first privately During the year, CAI continued to
In Brazil, CAI has a 51% stake in the managed airport city. Kazi forge new partnerships. In August
concessionaire which operates Tom Nazrul Islam Airport connects 2023, CAI inked two agreements
Jobim International Airport in Rio Durgapur directly to five metro with Cairo Airport Company (CAC)
de Janeiro. The airport continues cities (Bangalore, Chennai, Delhi, to jointly develop Cairo International
to work closely with business Hyderabad and Mumbai) with Airport, one of the busiest airports
partners to provide a high level of daily flights. In 2023, Kazi Nazrul in Africa and the largest airport in
service for passengers. Tom Jobim Islam Airport saw the completion Egypt by passenger and cargo traffic.
International Airport remained as of its new cargo terminal. Demand In December 2023, CAI completed
the top three concession airports for land continues to be strong a six-month consultancy agreement
in Brazil in terms of service quality as the aerotropolis’ development in Uzbekistan to improve operation
in a 2023 survey conducted by progresses. and management of Tashkent
the regulator, a record held by the International Airport.
airport for the last eight years. In the Philippines, CAI holds a
15% stake in Luzon International In February 2024, CAI sealed a
In China, CAI holds a 49% stake Premiere Airport Development technical partnership agreement
in Sino-Singapore Chongqing Corp. (LIPAD), which operates with Sociedade Gestora de
Airport Commercial Management and maintains Clark International Aeroportos to strengthen the
Co., Ltd., a joint venture with Airport (CRK). CAI worked closely performance of 16 regional airports
Chongqing Airport Group, which with LIPAD, where active airline in the Republic of Angola through
manages the non-aeronautical engagement and passenger new corporate and traffic strategies.
business of Chongqing Jiangbei development schemes resulted in
International Airport. In financial significant traffic recovery post- In the same month, CAI inked
year 2023/24, the joint venture Covid. CRK added five new airlines agreements with Vietnam’s Cam
successfully launched Starry and 13 new destinations in the Ranh International Joint Stock
Galleria, a first-of-its-kind airport year. Passenger traffic grew 160% Company to manage Cam Ranh
commercial management brand, year-on-year, led by recovery in key International Terminal’s non-
to strengthen its brand offering. markets such as South Korea, the aeronautical businesses and to
It continued to elevate the airport Middle East and Singapore. CRK support the growth of Cam Ranh
retail experience, unveiling a new was recognised with the Routes Asia International Airport’s international
commercial street at Terminal 3A Marketing Award in the under 5 route development. CAI also
which houses over 130 stores million passengers category in 2024. completed the master plan review
including luxury labels such as Beyond traffic, LIPAD secured new for Velana International Airport in
Bulgari, Cartier, and Gucci. revenue streams through land leases Maldives in February 2024.
 CHANGI AIRPORT GROUP 45

ENGAGING A
GLOBAL AUDIENCE
CAG continued to captivate social and Xiaohongshu (also known story was brought to life through
media users worldwide with as Red), continued to serve as engaging activations, interesting
engaging and diverse content on important platforms to grow brand documentaries, and interactive live-
Changi Airport. It connected with love and sustain interest in Changi’s streaming events with influencers.
960 million users on social media offerings. CAG’s activities in these key
throughout the year, solidifying markets reached over 320 million
Changi as the world’s most Creative social media content users, more than double the
followed airport and a global brand garnered over 30 mainstream and number compared to the previous
synonymous with exceptional online media pick-ups. This included year.
service and a gateway to endless unique aircraft liveries like Finnair’s
possibilities. Moomin characters and Korean
In anticipation of China’s reopening
Air’s K-pop-inspired Blackpink
in March 2023, CAG launched a
Igniting excitement for the design. With a strong curation
series of campaigns to help Chinese
rejuvenated Terminal 2 strategy, CAG’s social channels
tourists travel better. WeChat
gained influence, hitting over a
CAG got the world talking became the main hub for travellers
million organic views on YouTube
on social media with the full from China to access important
and surpassing 400,000 Instagram
reopening of Terminal 2 (T2). information, discover shopping and
followers.
The use of visual storytelling and entertainment options, and redeem
dynamic content showcased T2 as Leveraging megatrends to promotions at Changi. The success
a unique destination. Mentions of connect with fans of CAG’s WeChat strategy led to its
T2 soared by 400% in the opening recognition as the WeChat Users’
month of November. Organic American singer-songwriter Taylor Favourite WeChat Ecosystem at
content reached 15.6 million users, Swift’s concerts in Singapore the Tencent Global Annual Sharing
with over 875,000 engagements. sparked a regional craze, prompting event in 2023.
Visuals of ‘The Wonderfall’ were CAG to engage fans on social
a hit, gathering 4 million organic media. A user-generated campaign
views on Instagram and TikTok. was launched to invite Taylor
Swift to #SeeTheNewForest in
The fascinating journey of Jewel’s Forest Valley. The campaign
revitalising T2, showcased in a culminated in the ‘beJEWELed’
three-part series, ‘Transforming sing-along event in Jewel.
Terminal 2: Behind the Scenes’, Alongside local and international
was also published on Facebook media coverage, the event garnered
and YouTube. The series racked 37,000 social media mentions and
up nearly half a million views a reach of over 825 million in the
alongside positive audience region. Over a thousand ‘Swifties’
comments. Its success led to attended, making it Jewel’s largest
Singapore Airlines picking it sing-along event yet.
up as content for their in-flight
entertainment system. Reaching travellers in key
markets
Taking flight on Changi
Airport’s social media CAG expanded its reach to strategic
markets including Australia, China,
CAG’s social media channels, India and Indonesia through
namely Facebook, Instagram, targeted social media content
LinkedIn, Telegram, TikTok, X and innovative campaigns in CAG’s China Recovery Campaign, which
included a curation of guides on Red to
(previously known as Twitter), collaboration with travel and assist travellers, achieved almost 600,000
YouTube as well as WeChat, Weibo airline partners. The Changi engagements in China.
46 ANNUAL REPORT 2023/24

ATTRACTING AND
BUILDING TALENT

At the heart of CAG is its biggest experiential tours and activities To enhance the skills and
asset – its people. During the year, organised on i-Fridays were also knowledge of CAG employees for
CAG strengthened its innovation highly rated by employees as an the future, CAG’s People Team
culture and equipped employees effective way to learn about CAG’s partnered with dedicated in-house
with new skills to reimagine the innovation ambition. Centres of Excellence to curate
future of aviation. It also refreshed structured learning pathways
its employer brand and fortified the To unlock bandwidth, CAG also towards three skill pillars – Data/
employee experience to attract and reviewed work processes and Digital, Innovation and Leadership,
retain talents. explored productivity tools, such as which are core to CAG’s business
chatbots, to simplify work and give aspirations. It nurtured a growth
Nurturing a culture of employees more time for innovation. mindset among employees with a
innovation It proactively scanned the market refreshed Growth Friend Network,
for new technologies, such as which saw handpicked employees
To nurture a culture of innovation, Generative AI, and trained employees actively championing the spirit of
CAG continued to ride on the to use these transformative tools to exploration and learning within
momentum created by the launch discover new ways of working and their departments.
of the ‘4D+i’ initiative in January service delivery.
2023. The ‘i’ refers to Innovation
Fridays which are dedicated days for
employees to take part in activities
that unlock new skills and explore
new products, while ‘4D’ refers
to streamlining regular work into
four days. Results from an internal
survey conducted in January 2024
were encouraging. Three in five
employees pointed out that they
could commit at least one-fifth of
their time to innovate. At the same
time, two in three employees viewed
setbacks and failures positively as
learning opportunities. Brown bags,

CAG employees proudly wearing their

#IMCAG T-shirts, as part of the launch of
the ‘Come Make MAGIC with Us’ employer
brand.
 CHANGI AIRPORT GROUP 47

Building a magical experience. Several teams were Employment Practices award at the
employer brand set up, including one to create the Tripartite Alliance Awards 2023, in
‘Magic of Onboarding’ for new hires. recognition of its efforts in building
To attract the best and brightest Key changes, such as improved an effective workplace and inclusive
talents to the company, CAG preboarding processes and a people practices.
unveiled a new face to its employer revamped orientation programme,
brand during the year. With the were implemented, ultimately Giving back to society
tagline ‘Come Make MAGIC with leading to significantly increased
Us’, CAG invited prospective hires satisfaction scores from new hires. CAG employees continued to
to transform its airport business actively volunteer for charitable
through innovation and create CAG as an employer of choice and social causes, with volunteers
a magical experience for its clocking over 3,700 hours of their
customers together. CAG’s longstanding reputation of time in the year. Through the
being an employer of choice was company’s charitable arm, Changi
CAG launched a series of videos reflected through strong showings at Foundation, CAG maintained
with this campaign to highlight the HR awards throughout the year. For its long-term partnership with
strong spirit of collaboration and the 11th year in a row, CAG claimed NorthLight School, Metta School
innovation. Playing on the anagram one of the top spots in the Randstad and Arts@Metta. The annual CAG
of ‘MAGIC’ to form the #IMCAG Employer Brand Awards, coming in Art Fair returned for its third year,
(‘I AM CAG’) identity, the videos third in the overall list of the Most welcoming participants from
demonstrated how innovation is Attractive Employers in Singapore three additional special needs
embodied by CAG’s employees, for 2023. This was accompanied by communities. More than S$16,000
alongside new technologies being a double win in the Singapore’s 100 was raised through the month-
rolled out across the airport, all of (S100) Leading Graduate Employers long sale of artworks, with all
which come together to create the ranking, as CAG secured top spots proceeds going to the participating
iconic, magical Changi Experience in both the Aviation, Transport beneficiaries.
for passengers and visitors. The & Supply Chain and Hospitality,
video series was launched on CAG’s Leisure & Tourism categories for the CAG’s efforts were further
14th anniversary in July 2023 across second year in a row. bolstered by airport partners who
platforms such as LinkedIn and supported multiple initiatives
YouTube. They were well-received by CAG also clinched two golds and a around career awareness and work
employees and the public, resulting silver at the HR Excellence Awards exposure for youths. To date, two
in more than 9,000 page views on 2023, demonstrating its excellence youths with special needs have
CAG’s corporate career page and an across Employee Branding, been hired into jobs based at
increase in job applications. Recovery & Rebound Strategy, and Changi Airport. CAG continued to
HR Innovation domains. It also support their assimilation into the
Valuing the employee received the Fair and Progressive work environment.
experience
During the year, CAG continued
with a hybrid work arrangement
to provide flexibility for its
employees. Employee events, like
wellness activities and celebrations,
were held regularly to provide
opportunities for colleagues to have
fun and bond. These events served
as invaluable platforms to promote
employee well-being.

CAG’s People Team also set up

a new Employee Experience
programme management office
to focus on the important task of CAG regularly organises employee wellness events aimed at supporting physical, mental and
transforming the CAG employee financial health under its Healthy Habits, Happy Life initiative.
48 ANNUAL REPORT 2023/24

ENVIRONMENTAL

20% 100% -15%

reduction in of airside FY2023/24
Scope 1 and 2 vehicle fleet to electricity
emissions by run on cleaner consumption
2030, against a energy by 2040 (vs FY2018/19)
2019 baseline

SOCIAL

Top 10 6-time S100

most attractive winner of the Leading Graduate
employers in Community Employers
Singapore by Chest Volunteer Award winner in
Randstad for the Partner Award ‘Hospitality, Leisure
11th consecutive & Tourism’ and
year ‘Aviation, Transport
& Supply Chain’
categories

CORPORATE GOVERNANCE

Zero Zero
significant fines for non- employee
compliance with applicable work-related
laws and regulations fatalities
 CHANGI AIRPORT GROUP 49

ADVANCING ENVIRONMENTAL
SUSTAINABILITY
CAG’s commitment to environmental sustainability is centred
across six environmental pillars, which guide its efforts to
reduce carbon emissions, manage waste effectively, conserve
water, adapt its airport operations to climate change,
implement sustainable processes, and adhere strictly to CAG actively pursues
environmental regulations. Each pillar represents a specific
area of focus, reflecting its comprehensive approach to tackle environmental sustainability
environmental challenges. through a structured approach,
CAG’s environmental efforts are supported by a governance focusing on reducing emissions,
framework that promotes accountability, transparency, managing waste, conserving
and continual improvement. An Environmental Steering
Committee, led by CAG’s senior leaders, sets the water, adapting to climate
organisation’s environmental goals, tracks progress, and aligns change, implementing sustainable
its efforts with sustainability benchmarks. Specialised working
groups such as the Climate Working Group coordinate practices, and adhering to
actions across internal and external stakeholders on matters environmental regulations.
such as mitigating climate change impact, reducing emissions,
and enhancing resilience against environmental risks.

PERFORMANCE
MATERIAL MATTER(S) TARGETS
FY2023/24
20% reduction in Scope 1 and 2 emissions by 2030, against a
Energy and Emissions On track
2019 baseline
Management
Achieve Airport Carbon Accreditation Level 3 certification Achieved
Energy and Emissions
Management

Water Management Maintain ISO 14001:2015 certification Achieved

Waste Management

People Development All employees to attend at least 1 training programme, yearly 94%

Achieve 25% volunteerism by financial year 2025/26 27%

Achieve 3,000 volunteer hours yearly by 2025/26 3,767
Community Engage 35 Airport Partners to join Changi Foundation
Investment 13
programme by 2025/26
Offer a minimum of 80 annual job attachments to youth
36
beneficiaries from 2025/26 onwards
Zero employee work-related fatalities, yearly Achieved
Airport Safety Deficiency-free rating from the International Federation of Air
Achieved
Line Pilots’ Associations, yearly
Maintain ISO 37001:2016 certification Achieved
Good Corporate
Governance Zero significant fines for non-compliance with applicable laws
Achieved
and regulations
Contribution to the
Build capacity ahead of growth with Terminal 5 planning and
Economic Development Ongoing effort
development
of Singapore
50 ANNUAL REPORT 2023/24

CLIMATE
ACTION

Aligning carbon reduction expand CAG’s network of electric This project marks an important
efforts with aviation sector vehicle chargers to support the milestone in Changi Airport’s de-
targets airport community’s target of carbonisation journey – the new
transitioning all airside vehicles to solar PV system is expected to
CAG is committed to growing cleaner energy vehicles by 2040. reduce annual carbon emissions by
its business in a responsible and The Singapore Government has nearly 20,000 tonnes per annum, or
sustainable manner. This year, CAG also announced the introduction about 10% of CAG’s carbon footprint
raised its carbon emissions target of a sustainable aviation fuel (SAF) in 2018/19. This is equivalent to the
from “Zero Carbon Growth” to a levy from 2026 onwards, which energy required to power 10,000
20% reduction in Scope 1 and 2 aims to accelerate SAF adoption four-room HDB residential flats in
emissions by 2030, against a 2019 at Changi Airport. The SAF levy Singapore each year.
baseline. This is in line with the will be based on a 1% target for a
target set by the Civil Aviation start, with a forward-looking goal of Deploying solar PV systems at
Authority of Singapore (CAAS) raising it to 3-5% by 2050, subject airports present unique challenges
for domestic aviation emissions as compared to conventional
to global development and the
under the Singapore Sustainable installations at commercial, industrial,
wider availability and adoption
Air Hub Blueprint. CAG will achieve or residential sites. For example,
of SAF.
this reduction in absolute carbon robust simulations have to be
emissions even as Changi Airport carried out to ensure that the solar
Home to Singapore’s largest
continues to serve more passengers panels do not pose glare and glint
single-site rooftop solar PV
every year. To achieve this medium- effects to the air traffic control
term target, CAG will raise building
system
tower and pilots, nor interfere
energy efficiency and increase its Expanding on-site renewable with signals from communications,
adoption of renewable energy. energy deployment navigation & surveillance (CNS) and
meteorological facilities. In addition,
In the longer term, CAG strives In January 2024, CAG commenced
the installation and operation of
towards Net Zero by 2050, the installation of a large-scale solar
solar PV systems must comply with
enabled by advancements in photovoltaic (PV) system on the
international aviation safety and
technologies for energy efficiency rooftop areas of Changi Airport,
security requirements, including
in buildings, availability of off-site encompassing its passenger and
higher fire safety precautions, beyond
renewable energy and national grid cargo terminal buildings as well
those required under the Singapore
decarbonisation. as auxiliary structures. When
Civil Defence Force’s Fire Code.
completed in 2025, this system
Beyond its terminal buildings, CAG will have an installed capacity of
Pursuing new innovations
works with airport partners to 38 megawatt-peak (MWp) and will
reduce Changi Airport’s Scope 3 be Singapore’s largest single-site Given inherent space constraints
emissions. Plans are underway to rooftop solar PV system. at Changi Airport, CAG is pushing
 CHANGI AIRPORT GROUP 51

the envelope beyond conventional hours (MWh) of electricity, a 14%

rooftop areas to meet longer-term increase over 2022/23 due to the
decarbonisation goals. full re-opening of Terminal 2 in
November 2023. Nonetheless, this
Part of the project will also explore was 15% lower than its pre-Covid
installing a ground-mounted solar consumption of 456,100 MWh
PV system at a grass turf within in 2018/19. CAG and CAAS will
Changi Airport’s airfield. This will
Greenhouse gas emissions
be carrying out a
be the first time in Singapore that
a solar PV system is installed in A total of 1,207,800 tonnes
joint study to assess
the airfield - demonstrating CAG’s carbon dioxide equivalent of the technical and
commitment towards realising greenhouse gas emissions was
Changi Airport’s full solar potential. recorded in 2023/24, with Scope
commercial viability
1 and 2 accounting for 0.1% of installing solar
Looking ahead, CAG and CAAS and 13.4% respectively. Scope
will be carrying out a joint study 3 emissions formed the largest
PV systems at more
to assess the technical and proportion of our footprint areas of the airfield.
commercial viability of installing at 86.5%.
solar PV systems at more areas
of the airfield. An early estimate
suggests that wider deployment
of solar installations on the airfield
could enable CAG to reduce Greenhouse gas emissions
its absolute carbon emissions
by a further 5%. Through this 1,500,000 1,360,000
study, CAG hopes to unlock
GHG Emissions (tonnes CO2e)

greater on-site renewable energy 1,200,000 1,207,800

potential, without compromising 966,000
International Civil Aviation 900,000
86.4%
Organisation (ICAO) and local 587,000
requirements for safety and 600,000 85.5% 86.5%
431,000
efficiency of airport operations.
300,000 76.5% 80.9%
The study will examine critical
13.5% 23.3% 18.9% 14.4% 13.4%
factors such as the risks of visual
0 0.1% 0.2% 0.1% 0.1% 0.1%
disturbance to pilots and air
FY19/20 FY20/21 FY21/22 FY22/23 FY23/24
traffic controllers, radar signal
Scope 1 Scope 2 Scope 3
interference, foreign object
hazards, as well as potential impact
on aircraft rescue and firefighting
emergency response. The study will Electricity consumption
also explore innovative engineering
solutioning to overcome height 500,000 449,600
restrictions at sensitive areas of
Electricity Consumption (MWh)

389,000
the airfield, such as the non-graded 400,000
342,300
areas of runway and taxiway strips.
The study is expected to complete 300,000 274,300
246,700
in mid-2025.
200,000
Electricity consumption
100,000
CAG’s electricity consumption
constitutes 99.5% of CAG’s Scope 0
1 and 2 emissions. In 2023/24, FY19/20 FY20/21 FY21/22 FY22/23 FY23/24
CAG consumed 389,000 megawatt
52 ANNUAL REPORT 2023/24

CLIMATE
ACTION
Infrastructure Protection
and facility against heat
upgrades exhaustion

Enhancing heat
resilience for
Installation of critical amenities Distribution of protective sun
airside personnel
such as additional toilets wear, including ultraviolet
Airside personnel and water coolers across the resistant arm sleeves and
such as ramp airside to improve comfort and portable neck fans.
assistants, aircraft accessibility.
maintenance
engineers and in-
flight catering drivers,
Deployment of water trucks
are crucial to Changi
throughout the hotter months
Airport’s operations.
to provide chilled drinks for
Given the increased
on-demand hydration and
risks associated with
relief.
higher temperatures,
CAG has implemented
a heat stress
management strategy
to better support
outdoor workers
Introduction of “Refresh Pods” at
in managing heat-
airside staff lounges, that blow
related challenges.
cool air to reduce body heat and
for workers to keep dry.

Changi Airport Heat Resilience Working Group in front of the Refresh Pod and the Recharge Staff Lounge – (Left to right) Farhana Karim (dnata),
Lee Syh Bao (CHIPS), Mohd. Zaini Bin Zainoldin (SATS), Eddie Poh (JAZ), Lynette Koay (CAG), Cathay Teo (SIAEC).
 CHANGI AIRPORT GROUP 53

Changi carbon offsets

Fostering a Singapore’s aviation sector has been adopting technological

advancements and implementing new policies to accelerate
heat-resilient the transformation to sustainable air travel. These efforts
culture include:
• Aircraft manufacturers improving aircraft fuel efficiency.
• Changi Airport, airlines and ground handlers optimising
aircraft taxiing times, reducing taxi fuel burn.
• Progressive adoption of Sustainable Aviation Fuels.
Collaboration with airside
partners to supply protective
As the aviation industry works together for greener travel,
sun wear and adopt heat travellers also have avenues to offset their air travel carbon
acclimatisation protocols, such emissions.
as the flexibility to have more
rest breaks during high heat Changi Carbon Offsets was launched in November 2023
stress days. to give passengers a convenient means to offset air travel
emissions. The public can access the Changi carbon calculator
through the Changi Airport website, Changi App and Changi
Wi-Fi landing page to calculate the carbon emissions from
Enhance awareness on the their upcoming flights based on the origin, destination and
importance of prevention and class of travel.
management of heat-related
CAG has selected high-quality carbon offset projects, which
illnesses.
have beneficial impacts on the environment and communities.

CAG has also fully offset flight emissions from staff corporate
travel since the launch of Changi Carbon Offsets.
Partnership with Raffles Medical
Group to facilitate seminars
aimed at educating airside
supervisors on recognising
symptoms of heat stroke and
administering first aid for
heat stress.

The airside community also

set up a working group to
incorporate heat management
protocols into work processes
and heat acclimatisation
programmes for new joiners.
CAG continues to proactively
work with its airside partners
to create a culture of heat
resilience and safety for
airside personnel amidst an
evolving climate.

https://carbonoffsets.changiairport.com
 CHANGI AIRPORT GROUP 55

RESOURCE
SUSTAINABILITY

Waste management Self-service waste sortation There are plans to expand this
system airport-wide to encourage
CAG manages material resources, To promote waste segregation and airport employees and passengers
invests in efficient waste recycling, CAG designed a sortation to participate in recycling efforts.
technologies, and partners airport bin that was implemented at the
stakeholders to both avoid waste tray and crockery return stations Circularity at the workplace
generation and recycle more across the airport.
effectively. This minimises waste CAG collaborated with the office
sent to Singapore’s incineration These tray return stations feature coffee kiosk partner to transition
plants and improves recycling rates. recycling graphics and signages to towards zero-waste. Employees
guide users on proper recycling are encouraged to bring their own
In 2023, CAG established a practices and reduce cross- cups instead of using single-use
comprehensive waste baseline to contamination. Users can self- disposable cups, and all used milk
monitor and measure its waste sort their waste into five waste cartons are recycled.
management initiatives effectively. streams: liquid waste, food waste,
plastic bottles, metal cans and non- Used coffee grounds at the kiosk
Waste generated and recycled
recyclables. Since the installation are sent to CAG’s horticulture
at external buildings and sites
of the first system at Terminal 1 in plant nursery to be converted to
managed by CAG, including the
January 2024, an average of 90kg compost. The compost is then
Changi Airfreight Centre and the
of recyclables has been collected used to grow the plants around
plant nursery were measured,
each month. This initiative has also the airport. Every month, up
which contributed to an increased
resulted in the on-site treatment to 80kg of coffee grounds are
recycling rate in 2023/24.
of 600kg of food waste per month. recycled through this arrangement.

To enhance understanding of
recycling potential within passenger
terminal buildings, CAG completed
a waste assessment study to
collect and analyse the various
types of waste being disposed. In
collaboration with airport tenants
and with support from a local waste
recycling company, CAG identified
key challenges and opportunities
in waste reduction and recycling
processes. These insights will
Zero-waste
support ongoing efforts to develop
coffee kiosk in
a robust waste management the workplace.
strategy and set long-term targets.
56 ANNUAL REPORT 2023/24

RESOURCE
SUSTAINABILITY Total waste generated in tonnes

16,200 16,400

Community engagement on
recycling awareness 9,500

Changi Airport’s first Sustainability Recycling

Corner was launched in February 2024,
2,900 3,300
featuring information on the importance of
recycling and how different materials can be
recycled. The installation was curated
to be dynamic, timeless and interactive FY19/20 FY20/21 FY21/22 FY22/23 FY23/24

with a gamification function to engage

users in learning what it means to practice
responsible recycling.
% Breakdown of waste diversion*
In collaboration with local and international
partners, including SGRecycle, ALBA and
TOMRA, airport visitors are able to recycle up
to four waste types–e-waste, paper, plastic
bottles and metal cans–within a single location.
87% 89% 89% 90% 84%
The Sustainability Recycling Corner tracks
the number of games played to monitor user
uptake and effectiveness of the initiative.
Every month, an average of 1,000 beverage 11% 8% 9% 9% 16%
2% 3% 2% 1% 0.1%
containers, 300kg of paper and 100kg of
FY19/20 FY20/21 FY21/22 FY22/23 FY23/24
electronic waste is recycled. Through regular
education and engagement, CAG aims to Incinerated Recycled On-site digestion
foster a culture of sustainability across the
airport community. *Does not include waste generated from construction and aircraft cabin activities

Sustainability
Recycling
Corner by
Facilities
Management
- Chervina Tan
and Ivan Foo.
 CHANGI AIRPORT GROUP 57

The innovative
water management
approach at
Terminal 4 has led
to an estimated
annual savings of
S$70,000 and a
16% reduction in
cooling tower water
consumption.
CAG team comprising (Left to Right): Kenny Lim, Leow Peng Boon, Li Jian Cheng,
Ahmad Fadhli Bin Mohamed.

Upgrading cooling effectively managing water quality By implementing the ECA system,
tower water treatment and controlling bacteria and other CAG has enhanced operational
systems contaminants without the use efficiencies and reduced
of harsh chemicals. Additionally, environmental impact, aligning
Traditional cooling tower water the system incorporates an with its sustainability goals.
treatment is reliant on the use electrolytic water softening Importantly, these advancements
of chemicals to mitigate bacteria process that extracts calcium and have been achieved while fully
growth, scaling, and other water magnesium ions from the water. complying with regulatory water
quality issues. While these This reduces the need for dilution quality standards, ensuring that
chemical treatment methods are and disposal to manage chemical its operations remain sustainable
effective in maintaining water concentration, thereby avoiding and compliant.
cleanliness, they necessitate excessive water usage.
regular dilution and disposal to
manage chemical concentration, A crucial benefit of this system
often resulting in significant is its impact on cycles of
water wastage. concentration (COC) — a measure
that indicates how many times
In pursuit of a more sustainable water can be re-used before
alternative, the Terminal 4 (T4) it needs to be replaced. By
integrated Facilities Management enhancing the COC, the system
(iFM) team embraced an innovative reduces the frequency of water
treatment system which utilises flush-outs, enabling the cooling
ElectroChemical Activation tower to operate more efficiently
(ECA). This advanced technology and use less water. This water
mirrors the beneficial effects of management approach has led
traditional treatment, but in an to estimated annual water
eco-friendlier manner. It functions savings of S$70,000 and a 16%
by producing oxidising chemicals reduction in cooling tower water
Chemical-free water treatment system for
through the electrolysis of water, consumption in T4. cooling towers.
58 ANNUAL REPORT 2023/24

SUSTAINABLE
PROCUREMENT
CAG employs a life-cycle
perspective in its procurement
decision-making, prioritising
environmental stewardship in
the initial design phase through
Design to downstream processes to
How does the design of avoid environmental impact.
the good create savings
This commitment to sustainable
in materials, energy, water
Raw Material and waste generated? Manufacturing procurement has been integrated
Are toxic/hazardous How efficient is the into CAG’s procurement systems
materials used? Are there production of the and practices.
non-toxic equivalents? good in the usage of
Are materials used easily materials, energy, water
recyclable?
Preference for and waste generated? In 2022, CAG mandated
a minimum environment
suppliers who can
weightage in the evaluation of
demonstrate how
new procurements for selected
their product/
procurement categories. In 2023,
service is sustainable
CAG expanded this environment
Disposal throughout its Packaging
evaluation criteria to all
Can the “waste” product life cycle Can the packaging
procurement categories.
be reused/recycled? be minimised or
Does it emit pollutants made from recyclable
upon incineration? material? All bidders of new CAG
Is there pollution to
procurements will need to:
air/water/land?
• demonstrate how their
product or service fulfils the
Use Distribution environment evaluation criteria
Does the use of the Can the product be that the CAG project team
good/service result in made lighter/ specifies for each procurement,
increased energy/water locally/regionally
efficiency and chemical/ to reduce transport and
waste reduction? footprint? • meet a minimum environment
score to be awarded the
project.

The Price:Quality:Environment
evaluation framework, along
with the requisite minimum
1 2 3 environmental score for suppliers,
enables CAG to assess and show
For new Suppliers will To be preference for suppliers who
procurements, be evaluated awarded new are environmentally responsible
suppliers will need according to Price, procurements, and can join CAG in achieving its
to show how they Quality, Safety the supplier will environmental goals. In increasing
have fulfilled the and Environment, need to meet the demand for sustainable
environmental with a minimum a minimum products and services, CAG
criteria. weightage environment is working with our internal
given to the score. and external stakeholders to
environment decarbonise and increase the
criteria. sustainability of its supply chain.
 CHANGI AIRPORT GROUP 59

CULTIVATING
WORKPLACE SUSTAINABILITY

CAG initiated the “ONE Gracious Continuing the momentum, the

and Green Changi” campaign aimed ONE Changi Learning Fiesta in
at cultivating a more caring and August and September 2023
positive airport environment and drew over 450 attendees, offering
inculcating a sustainability mindset workshops, exploratory journeys, CAG cultivates
in airport staff. The campaign was and a carnival, themed around
launched successfully through a Service Excellence, Sustainability, a sustainable
carnival held in May 2023 where and Innovation. workplace by actively
participants engaged in various
games and interactive learning The Sustainable September engaging staff in
stations, one of which featured campaign, specifically tailored environmental
the Reverse Vending Machine by for CAG employees, delved into
TOMRA, a recycling initiative vital environmental stewardship
stewardship and
by the Facilities Management Team. themes through a series of lunch community support.
Metta Welfare Association also time talks and covered topics such
came on board to sell sustainable as reducing carbon emissions,
products that were lovingly crafted sustainable events planning, green
by special needs youths, receiving procurement, and optimising
waste management. In conjunction colleagues came together to
a positive response from the
with the campaign, like-minded conceptualise and run a ‘Swap-
airport community.
tacular September Event’, where
employees could donate and
swap their children’s pre-loved
items. It aimed to raise awareness
and encourage employees to
take action in reducing their
environmental footprint, and to
instil a renewed purpose for pre-
loved children’s clothes and books.
The event led to the collection
of up to 26kg of clothes and
425 books, which were donated
to Metta Welfare Association
in support of their community
programmes and the National
Library Board, in support of their
Airport staff playing games while learning about sustainability at ONE Changi Learning Fiesta 2023. book exchange programmes.
60 ANNUAL REPORT 2023/24

BOARD OF
DIRECTORS
(As at 6 June 2024)

1 2

7 8

May Day Award in 2005, the President’s Award for

1. TAN GEE PAW
the Environment in 2007 and the President’s Science
Chairman
and Technology Medal in 2015. Mr Tan was conferred
the Meritorious Service Medal in 2001 for his work
Mr Tan Gee Paw is the non-executive chairman of as Permanent Secretary of the then Ministry of the
CAG. He was appointed to the Board on 1 May 2017 Environment and the Distinguished Service Order
and was subsequently appointed the non-executive in 2010 for his work as Chairman of PUB. In 2011,
chairman of the Board on 23 October 2020. Mr Tan was conferred the Distinguished Engineering
Alumni Award by the National University of Singapore;
Mr Tan is currently the Special Advisor to the the Distinguished Member Award by National
Chairman of PUB, Singapore’s National Water Agency. University of Singapore Society in 2014; and the
He is also a member of the Centre for Liveable Cities Distinguished Professional Engineer Award in 2018
(CLC) Panel of Distinguished Advisors, and the Adjunct by the Professional Engineers Board. He was elected
Professor at the College of Design and Engineering, an Honorary Fellow of the Institution of Engineers,
National University of Singapore. Singapore and awarded the Lifetime Engineering
Achievement Award in 2015. Mr Tan was also elected
Mr Tan was the previous Chairman of PUB from 1 as a Fellow of the Academy of Engineering, Singapore
April 2001 until his retirement on 31 March 2017. His in 2012.
previous appointments include being a member on a
number of government committees, the Principal of Mr Tan graduated with First Class Honours in Bachelor
Ngee Ann Polytechnic, Permanent Secretary of the of Engineering (Civil) from the University of Malaya in
then Ministry of the Environment, Advisor on Rail 1967, and a Master of Science in Systems Engineering
Transformation, Ministry of Transport and Special from the University of Singapore in 1971. He was
Advisor to Land Transport Authority. conferred an Honorary Degree of Doctor of Science
from the University of Westminster, UK in 1993; and
Mr Tan received the Public Administration Medal an Honorary Doctorate in Engineering from Sheffield
(Silver) in 1978 and a Special Award (Gold Medal) University, UK, in 1995. In 2013, he was conferred
for Clean River Commemoration in 1987. He also an Honorary Degree of Doctor of Engineering by the
received the Medal of Commendation at the NTUC Nanyang Technological University.
 CHANGI AIRPORT GROUP 61

4 5 6
3

10 11 12
9

Postgraduate Scholarship (General Development) in

2. LEE SEOW HIANG
2002. He holds a Bachelor of Arts (Honours) from the
Executive Director and CEO
University of Cambridge, UK, and a Master of Business
Administration from the Massachusetts Institute of
Mr Lee is the CEO of CAG. He was appointed to the Technology, USA.
Board on 16 June 2009.

3. TAN CHING YEE

Mr Lee is concurrently Chairman of Changi Airports
International Pte Ltd, Changi Foundation Limited
Mrs Tan Ching Yee is a Non-Executive Director of
and Jewel Changi Airport companies. He also chairs
CAG. She was appointed to the Board on 1 May
the National Library Board and sits on the board
2017.
of NTUC FairPrice Co-operative Ltd, E-Concierge
Private Limited and Singapore Tourism Board. He
Mrs Tan is the Permanent Secretary of the Ministry of
holds the appointment of Immediate Past President
Finance, Singapore. She also holds the appointment
on the Airports Council International (ACI) Asia-Pacific
of Permanent Secretary (Special Duties), Prime
Regional Board and is a Director on the ACI World Minister’s Office. She assumed these posts on 1
Governing Board. May 2016. She is Chairman of the Inland Revenue
Authority of Singapore, and a board member of the
From 1989 to 2005, Mr Lee held various appointments Lee Kuan Yew School of Public Policy.
in the Republic of Singapore Air Force (RSAF) and the
Ministry of Defence, with his last appointment being Mrs Tan was previously Permanent Secretary at the
Deputy Head of Air Operations in HQ RSAF. From Ministry of Health and the Ministry of Education.
2005 to 2008, he was the Principal Private Secretary Before that, she was the Chief Executive of the then
to the late Minister Mentor Lee Kuan Yew in the Prime Infocomm Development Authority of Singapore,
Minister’s Office. and also Deputy Secretary (Infocomm and Media
Development) at the former Ministry of Information,
Mr Lee was awarded the Singapore Armed Forces Communications and the Arts. Prior to these roles,
(SAF) Overseas Scholarship and President’s she had worked at the Ministry of Education and
Scholarship in 1989. He was also awarded the SAF Ministry of Trade and Industry.
62 ANNUAL REPORT 2023/24

BOARD OF Authority of Singapore and assistant to the late Dr

DIRECTORS Goh Keng Swee, the former Deputy Prime Minister
of Singapore, who had been invited by Mr Deng
Xiaoping to advise China on economic development
strategy. From June 2002 to June 2005, he was a
senior economist at the World Bank office in Beijing.
Mrs Tan read Economics at Cambridge University and In 2004, he was a member of the World Bank expert
obtained her Master of Science in Management from group on the 11th five-year plan (2006 to 2010) for
the Graduate School of Business, Stanford University. the State Council in China. The expert group provided
analysis and policy recommendations to the Chinese
government. Prior to that, he was the chief economist
4. TITUS LEE of the Singapore government at the Ministry of
Trade and Industry (1999 to 2002) and head of the
Mr Titus Lee is the Alternate Director to Mrs Tan Department of Strategy and Policy at the NUS Business
Ching Yee. He was appointed to the Board on 15 School. He has also worked at the Hoover Institution at
January 2022. Stanford University and World Bank in Washington.

Mr Lee is Director (Reserves and Investment) at the Professor Tan is a graduate of Princeton University
Ministry of Finance. Prior to joining the Ministry of with a Bachelor of Arts (Honours) and has a PhD in
Finance in November 2021, he held appointments Economics from Stanford University.
at the Ministry of Health, the former Workforce
Development Agency and the National Population
6. NG CHEE KHERN
and Talent Division. At the Ministry of Health, Mr Lee
held the positions of Director, Aged Care Services, and
Mr Ng Chee Khern is a Non-Executive Director of CAG.
Deputy Director of the Healthcare Finance Division.
He was appointed to the Board on 1 March 2018.
At the Workforce Development Agency, he was the
Deputy Director overseeing workforce measures for
Mr Ng is Permanent Secretary for Manpower in
low-wage workers. At the National Population and
the Ministry of Manpower, which is responsible for
Talent Division, he was the Assistant Director involved
government policies and programmes covering the
in strengthening Marriage and Parenthood policies.
workforce and workplaces. Mr Ng was previously
Mr Lee started his career in the public service as an
Permanent Secretary (Smart Nation and Digital
Economist with the Ministry of Trade and Industry.
Government) in the Prime Minister’s Office from May
2017 to March 2022, where he led the government’s
Mr Lee was awarded the Public Service Commission
efforts in driving the development of digital services
Overseas Merit Scholarship and graduated from
for citizens and businesses, and applying digital and
Northwestern University, majoring in Mathematical
smart solutions to improve the lives of citizens in a
Methods in the Social Sciences and Economics. He
Smart Nation.
also holds a Master of International and Development
Economics from Yale University.
He was Permanent Secretary (Defence Development)
in Singapore’s Ministry of Defence from May 2014
5. PROFESSOR TAN KONG YAM to April 2017 where his portfolio covered defence
research and technology, capability development
Professor Tan Kong Yam is a Non-Executive Director and acquisitions, and defence administration. He was
of CAG. He was appointed to the Board on 30 January concurrently 2nd Permanent Secretary in Singapore’s
2015. Ministry of Health from August 2014 to February
2016 where he oversaw the overall operations,
Professor Tan is presently Emeritus Professor of emergency preparedness and capacity building for the
Economics at the Nanyang Technological University. public healthcare sector in Singapore.
He is also Deputy Chairman of APS Asset Management
(China). Mr Ng was previously the Chairman of the
Government Technology Agency of Singapore
From 1984 to 1988, Professor Tan was the Assistant (GovTech) board and served as a board member of the
Director on exchange rate policy at the Monetary National Research Foundation (NRF), Civil Aviation
 CHANGI AIRPORT GROUP 63

Authority of Singapore (CAAS), Singapore Technologies to this appointment in 2008, she was the Managing
Engineering Ltd, and CapitaLand Mall Trust. Director and Head of Risk Management at DBS Group
and held the position for six years.
7. CHIA SONG HWEE
Mrs Chng is currently a Board member of DBS Bank
India Limited. She serves on the board of Singapore
Mr Chia Song Hwee is a Non-Executive Director of CAG.
Exchange Limited and chairs its Risk Management
He was appointed to the Board on 1 October 2018.
Committee. Additionally, she is a member of the
CareShield Life Council. Mrs Chng previously served
Mr Chia is the Deputy Chief Executive Officer at
on the boards of the Bank of the Philippine Islands,
Temasek.
Inland Revenue Authority of Singapore, Housing &
Development Board, Accounting Standards Council
Mr Chia has held various leadership roles in Temasek,
and, for ten years, as the Supervisor of the board of
including President and Chief Operating Officer, as
DBS Bank (China) Limited.
well as Head of the Investment, Credit Portfolio, and
Strategy Groups. He has also led the Temasek market
Mrs Chng is a Chartered Financial Analyst, a Certified
teams in Singapore and China.
Financial Risk Manager, an Institute of Banking and
In February 2021, Mr Chia was appointed to the board Finance Singapore Distinguished Fellow, as well as a
of Agency for Science, Technology and Research. Fellow Chartered Accountant of Singapore. Mrs Chng
He also serves as a member of Singapore’s Advisory was the recipient of AsiaRisk’s Risk Manager of the Year
Council on the Ethical Use of AI and Data, established Award in 2002 and The Asian Banker’s Inaugural Risk
by the Infocomm Media Development Authority since Manager of the Year Award in 2012. Mrs Chng was
2018. With effect from April 2024, Mr Chia sits on the named Best Chief Financial Officer at the Singapore
board of the National Research Foundation. Corporate Awards 2013, Accountant of the Year in
the inaugural Singapore Accountancy Awards in 2014
Prior to joining Temasek in 2011, Mr Chia was the and Best CFO in Singapore by the FinanceAsia’s Best
Chief Operating Officer at GLOBALFOUNDRIES. Companies Awards in 2023. She is a member of the
Before the integration of GLOBALFOUNDRIES International Women’s Forum (Singapore).
and Chartered Semiconductor Manufacturing Ltd
(Chartered), he served as Director of the Board, and 9. KWA KIM LI
President and CEO of Chartered from 2002 to 2009.
Mr Chia also held various management positions at Ms Kwa Kim Li is a Non-Executive Director of CAG.
Chartered, including Senior Vice President, Chief She was appointed to the Board on 1 October 2019.
Financial Officer, and Chief Administrative Officer.
Ms Kwa is the Managing Partner of Lee & Lee,
Prior to Chartered, Mr Chia was Regional Controller Advocates and Solicitors. Ms Kwa graduated in 1979
for Asia, Australia, and the Middle East for the drilling
from the National University of Singapore and was
group of Schlumberger, a global oilfield services group.
called to the Singapore Bar in 1980. She has been in
active legal practice with the Firm for over 40 years,
Mr Chia holds a Bachelor of Business (Accountancy)
and her practice areas spans various aspects of law.
degree with distinction, from Edith Cowan University,
Although her specialty is real estate, Ms Kwa also
Australia, and is a member of CPA Australia. He was
advises on loans, trusts, wills, probates, joint ventures
honoured with the EE Times Annual Creativity in
and cross border transactions.
Electronics Award for Executive of the Year in 2007.
Ms Kwa also holds various positions outside her legal
8. CHNG SOK HUI practice, including directorship in Wing Tai Holdings
Limited. In the health sector, she is a Trustee of the
Mrs Chng Sok Hui is a Non-Executive Director of CAG. Singapore Cardiac Society.
She was appointed to the Board on 1 October 2019.
Ms Kwa was awarded the Ministry of Education
Mrs Chng is the Chief Financial Officer of DBS Group, “Service to Education” Award and the Ministry of
and a member of the DBS Executive Committee. Prior Health 5 years Appreciation Service Award.
64 ANNUAL REPORT 2023/24

BOARD OF He is the Chairman of NTUC FairPrice Co-operative

DIRECTORS Limited, NTUC FairPrice Foundation and Deputy
Chairman of NTUC Enterprise Co-operative Limited,
the holding organisation of FairPrice Group, NTUC
First Campus, NTUC Health, Income Insurance
Limited, NTUC LearningHub, and Mercatus.
10. ABDUL WAHAB BIN MOHAMED
YUSOFF He also holds directorships in Tangram Asia Capital
LLP, Trust Bank Singapore Limited and Mandai
Mr Adbul Wahab Bin Mohamed Yusoff is a Non- Park Holdings Pte Ltd. He is an Advisor of Income
Executive Director of CAG. He was appointed to the Insurance Limited and CapitaLand Investment Limited
Board on 1 October 2019. and a member of the Angsana Fund Investment
Committee of the Singapore Labour Foundation.
With over 35 years of experience in the information
technology, computer and cybersecurity fields, Mr Kee was awarded the Public Service Star (BBM)
Mr Wahab has held various leadership roles in by the Singapore Government and Meritorious
companies that are focused on helping multi-national Service Award by the National Trades Union Congress
corporations establish and grow their operations in the in 2021. Mr Kee holds a Master of Arts in Engineering
Asia Pacific region. Science from Oxford University, UK.

Mr Wahab was Vice President - APJ at Delinea 12. MARK YEO

Singapore Pte Ltd from 2021 to 2023, and in the same
capacity at Forescout Technologies Pte Ltd from 2017 Mr Mark Yeo is a Non-Executive Director of CAG. He
to 2021. He was Vice President and General Manager was appointed to the Board on 1 April 2021.
of Palo Alto Networks ASEAN from 2015 to 2017.
He also held the role of Vice President, South Asia of Mr Yeo sits on the Boards of Keppel Infrastructure
McAfee & Intel Security from 2009 to 2015 and was Trust as well as IREIT Global, both of which are
EMC Computer Systems, South Asia’s Vice President listed on SGX. Prior to his current appointments,
and General Manager from 2003 to 2009. Mr Yeo was Director on the Board of Changi Airports
International and held non-executive directorship
Mr Wahab holds the position of Founding Partner on the Boards of Cityspring Infrastructure Trust,
/ Acting CEO at Rekanext Capital Partners Pte Ltd. Singapore Cruise Centre and Singapore Expo/SingEx.
He is presently a Board Director of Singapore Civil
Service College and EZ-Link Pte Ltd. He is also a Board Mr Yeo has held various senior banking positions
Member of the National Arts Council and Energy working on the infrastructure sector in Asia, Europe
Market Authority. and Latin America mainly doing project finance
advisory. He was based both in Singapore and
Mr Wahab holds a Bachelor of Engineering degree from London. Thereafter, he held several leadership
the National University of Singapore and is a graduate positions in corporates in Asia and the Middle East.
of INSEAD’s International Executive Programme. He started his career in the Singapore civil service.

11. KEE TECK KOON Mr Yeo graduated with a Master of Arts from the
University of Oxford and a Master of Laws from
Mr Kee Teck Koon is a Non-Executive Director of the National University of Singapore. He is also a
CAG. He was appointed to the Board on 1 March Barrister of Gray’s Inn and attended the Advanced
2020. Management Programme with INSEAD.
 CHANGI AIRPORT GROUP 65

MANAGEMENT
TEAM
(As at 30 June 2024)
1 2

1 Lee Seow Hiang

Chief Executive Officer

2 Yam Kum Weng

CEO-Designate
Executive Vice President,
Airport Development 3 4

3 Lim Peck Hoon

Executive Vice President,
Commercial

4 Ng Lai Leng
Chief Financial Officer
Executive Vice President,
Enterprise Performance & Development 5 6

5 Tan Lye Teck

Executive Vice President,
Safety & Security

6 Eugene Gan
Chief Executive Officer,
Changi Airports International

7 Jayson Goh 7 8
Executive Vice President,
Airport Management

8 Lim Ching Kiat

Executive Vice President,
Air Hub & Cargo Development

9 Justina Tan
Executive Vice President,
9 10
Corporate, People and Culture

10 Koh Ming Sue

Executive Vice President,
Engineering & Development

11 Choy Da Wen 13 Ong Chee Chiau

Deputy Chief Financial Officer & Managing Director, Managing Director,
Enterprise Performance & Development Changi East

12 Hung Jean 14 Yeo Kia Thye

Managing Director, Managing Director,
Enterprise Digital Ecosystem & Business Airport Operations Control
66 ANNUAL REPORT 2023/24

CORPORATE
GOVERNANCE
The Board and Management of CAG (the “Company” Composition and Balance
and together with its subsidiaries, the “Group”) are
2. Headed by Non-Executive Chairman, Mr Tan Gee
deeply committed to our Company’s core value –
Paw, the Board currently comprises 12 Directors
integrity – which is at the heart of everything we do.
(including an alternate director). Mr Lee Seow
We strive to meet and maintain the highest standards
Hiang, our CEO, is the only executive member of
of corporate governance, professionalism and integrity,
the Board. He will be succeeded on 1 July 2024
to build a company our stakeholders can be proud of.
by Mr Yam Kum Weng. The majority of our Board
To operate a sustainable business over the long term
members are independent. Our Directors are
and to uphold and protect the Company’s brand and
individuals with broad and diverse expertise and
reputation, we strongly believe in being accountable to
experience.
our immediate business and regulatory environment, as
well as to the global community.
3. The Board Directors of the Company are/were:
The Company’s Code of Conduct sets out the
principles and standards of conduct that it expects of i. Mr Tan Gee Paw – Chairman
all employees in their day-to-day activities and in the ii. Mr Lee Seow Hiang – CEO
decisions they make. The Company also promotes a iii. Mrs Tan Ching Yee – Shareholder Representative
‘speak up’ culture through its whistle blowing policy, (Alternate: Mr Titus Lee)
which is intended to detect and deter unethical or iv. Professor Tan Kong Yam
illegal conduct, while protecting whistleblowers from v. Mr Ng Chee Khern
retaliation. vi. Mr Chia Song Hwee
vii. BG Kelvin Fan (stepped down on 21 March
In 2023, the Company passed the annual surveillance 2024)
audit to maintain the ISO 37001 certification for its viii.Mrs Chng Sok Hui
anti-bribery management system, providing continuing ix. Ms Kwa Kim Li
assurance to its stakeholders that it maintains x. Mr Wahab Yusoff
internationally recognised anti-bribery controls and xi. Mr Kee Teck Koon
practices. xii. Mr Mark Andrew Yeo

In April 2023, the Company was also awarded the The profiles of the Directors can be found on pages
Data Protection Trustmark (DPTM) certification by 60 to 64 of this annual report. Changi Airports
the Infocomm Media Development Authority. The International Pte Ltd (CAI), a wholly owned subsidiary of
DPTM is a voluntary enterprise-wide certification the Company, has a separate Board of Directors.
for organisations to demonstrate accountable data
protection practices. This is part of the Company’s 4. The roles of the Chairman and the CEO are separate
efforts to increase its competitive advantage and build and distinct. The Chairman leads the Board and
trust with its customers, partners, and stakeholders. facilitates effective and comprehensive Board
discussions and decision-making on strategic issues,
The Board of Directors while the CEO has full executive responsibility for
the management of the Company’s businesses
1. The Company’s Board of Directors is our highest and implementation of the Group’s strategies and
decision-making body. It oversees the Company’s policies.
long-term strategies and provides guidance to
Management for the long-term performance and 5. At this time, there are nine Board sub-committees
financial soundness of the Group, while safeguarding
which assist the Board in more detailed
the interests of stakeholders.
consideration of various matters. These are the
 CHANGI AIRPORT GROUP 67

Executive Committee (EXCO), Executive Resource 3. The Company had expected to take on
and Compensation Committee (ERCC), Audit significant debt in the coming years to finance
Committee (AC), Tenders Committee (TC), Executive the development of Changi East. To that end,
Committee on Airport Development (ECAD), the CMC was established at the end of 2018 to
Operational Risk and Safety Committee (ORSC), provide specific oversight in the area of capital
Nominating Committee (NC), Capital Management management. However, following the Covid-19
Committee (CMC) and Technology & Systems pandemic, a review of funding arrangements for
Committee (TSC). Each committee is governed the development of Changi East is ongoing, and
by its own terms of reference, which set out the a decision was taken to suspend the CMC on 21
scope of the committee’s authority, duties and October 2020 until further notice.
responsibilities. Ad-hoc committees are also formed
from time to time to review specific issues. 4. The suspended CMC comprises the following
Directors:
6. The Board meets at least four times a year.
i. Mr Chia Song Hwee - Chairman
Access to Information ii. Mr Titus Lee
iii. Mrs Chng Sok Hui
7. Prior to each Board Meeting and when necessary, iv. Mr Lee Seow Hiang
the Board is provided with pertinent information –
including updates on the Company’s operating and 5. It was intended that the CMC would review and
financial key performance indicators, regulatory, recommend to the Board and/or EXCO the financing
industry and other significant developments strategies and plans of the Company (debt capital
relating to the Group – to enable the Board to make market issuances and bank facilities), as well as
informed and sound decisions. The Board has full guide and advise Management on the financing
access to the Senior Management team and the execution strategy.
Company Secretary. Should the Directors require
independent professional advice on matters relating Executive Resource and Compensation
to the businesses or issues affecting their duties,
the Company will, at its expense, arrange for the 1. The ERCC comprises the following Directors:
appointment of relevant professional advisors.
i. Mr Tan Gee Paw - Chairman
Capital & Investments ii. Mr Chia Song Hwee
iii. Mr Kee Teck Koon
1. The EXCO comprises the following Directors:
2. The ERCC supports and advises the Board on
i. Mr Tan Gee Paw - Chairman remuneration matters, leadership succession and
ii. Mrs Tan Ching Yee development. The responsibilities of the ERCC
iii. Mr Chia Song Hwee include:
iv. Professor Tan Kong Yam
v. Mr Lee Seow Hiang i. reviewing and approving the policy for determining
executive remuneration, including the remuneration
2. The EXCO reviews and recommends to the packages, service contract terms and benefits
Board financing and investment strategies of the programme for key management executives;
Group and approves significant investments by
the Company and CAI. The EXCO also approves ii. approving the appointment of key management
treasury matters such as the acceptance of executives, overseeing their development and
banking and credit facilities, granting of corporate reviewing succession plans to ensure a strong
guarantees, debt capital market issuances, opening pipeline of talent to enable the continued success of
of bank accounts as well as hedging policies. the Company; and
The EXCO also sets the financial limits for the
operational, procurement and treasury activities of iii. recommending the remuneration framework,
the Company. including fees for non-executive Directors.
68 ANNUAL REPORT 2023/24

CORPORATE adequate disclosure, critical accounting policies

GOVERNANCE and any significant changes that would have a
material impact on the financial statements.

6. The AC reviews the adequacy and effectiveness

of the internal audit function and its processes, as
Accountability and Audit well as ensures it is adequately resourced to carry
out its function effectively. The AC reviews the
Accountability
Internal Audit (IA) Division’s plans, its effectiveness
1. Management provides all members of the Board and audit scope, and also approves its budget. The
with reports on operating and financial information AC receives reports from IA at the completion of
and key performance indicators on a quarterly basis each audit, and at each AC meeting, IA provides
and as the Board may require from time to time, to the AC with updates on the key findings from the
enable the Board to make balanced and informed audit reviews, the remediation actions which have
assessments of the Group’s performance, position been or will be taken to address these findings,
and prospects. and an overview of the resolution of the audit
issues (including current and past-due issues) to
Audit Matters verify the effectiveness and timeliness of actions
2. The AC comprises the following Directors: taken by Management on the internal auditors’
recommendations and observations. Any changes
i. Mrs Chng Sok Hui – Chairman to the audit plan will also be tabled for AC approval
ii. Mrs Tan Ching Yee at the AC meetings.
iii. BG Kelvin Fan (stepped down on 21 March
2024) 7. The AC reviews and approves the external audit
plan, the scope and results of the external audit.
3. The main responsibilities of the AC are to assist The AC also reviews the external audit reports to
the Board in discharging its statutory and other ensure that significant findings and observations
responsibilities relating to the Company’s internal regarding control weaknesses are promptly
controls, financial and accounting matters, rectified. Prior to making recommendations to
compliance, and business and financial risk the Board on the external auditor’s appointment
management. or reappointment, the AC reviews the external
auditor’s independence, objectivity and quality
4. The AC is responsible for reviewing the of work based on the Audit Quality Indicators
effectiveness of financial, compliance and Disclosure framework established by the
risk management frameworks, as well as the Accounting and Corporate Regulatory Authority. In
robustness of the reporting and disclosure line with best practice, the external audit partner
processes. The AC also reviews the adequacy of is rotated every five years. The AC also reviews the
whistleblowing arrangements implemented by non-audit fees awarded to the external auditors
the Company through which employees, partners, to ensure that the non-audit services performed
suppliers, contractors, and other stakeholders by them would not affect their independence. The
can raise concerns in confidence about possible aggregate amount of audit and non-audit fees
improprieties in matters of financial reporting or paid for the external auditor of the Company and
other matters. All whistle blowing complaints are its network firms for the financial year ended 31
reviewed by the AC to ensure independent and March 2024 (rounded to the nearest million) was
thorough investigation, and adequate follow-up $0.6m and $0.1m respectively.
and resolution of the matters reported. The AC
also provides oversight for the effectiveness of the 8. The AC meets with the internal and/or external
Company’s anti-bribery management system. auditors three times during the year. At least one of
these meetings is conducted without the presence
5. The AC performs independent review of the of Management, where the auditors may raise
financial statements of the Company and reviews issues encountered in the course of their work
the key areas of management judgment applied for directly to the AC.
 CHANGI AIRPORT GROUP 69

Internal Controls conducted by Management on a periodic basis to

evaluate the adequacy and effectiveness of the risk
1. The Board and Management of the Company are management and internal control systems.
fully committed to maintaining a robust system of
internal controls, procedures and risk management 5. As part of the Company’s anti-bribery management
to safeguard our shareholder’s interests and the system, all employees undergo annual anti-bribery
Group’s assets. The Board delegates its oversight training, and divisions perform identification and
responsibilities for internal controls, financial assessment of bribery risk annually and put in
and strategic (business) risk management and place appropriate mitigating measures. Employees
compliance matters to the AC, which ensures the in sensitive positions are also required to submit
effectiveness and adequacy of the system of internal declarations relating to anti-bribery compliance
controls in the Company, while the ORSC assists the yearly.
Board in reviewing the operational and safety risk
management and compliance systems put in place 6. A separate TC evaluates and approves the award of
by Management. tenders for goods and services exceeding
S$50 million in value, except for those related
2. The internal controls established by the Company to new development projects and major
are supported by systems, processes and people. redevelopment projects at Changi Airport which
The Company’s three lines of defence for risk come under the purview of the ECAD. The TC
management are as follows: comprises the following Directors:

i. the first line of defence is the business units who i. Mr Ng Chee Khern – Chairman
are responsible for identifying and managing ii. Ms Kwa Kim Li
risks inherent in their businesses; iii. Mr Lee Seow Hiang

ii. the second line of defence comprises the Internal Audit

oversight and control functions such as 7. IA assists the AC to ensure that the Company
Enterprise Risk Management (ERM), Legal maintains sound risk management and internal
& Compliance, Aerodrome Safety, Aviation control systems. IA is independent of the activities
Security, Cybersecurity & Digital Governance, it audits. It conducts regular audits of high-risk
and Enterprise Performance; and areas, and undertakes investigations as directed
by the AC. It comprises suitably qualified and
iii. the third line of defence is IA, which provides experienced staff, headed by the Senior Vice
an independent assessment and assurance on President, Internal Audit (SVP, IA). SVP, IA
the reliability, adequacy and effectiveness of reports functionally to the Chairman of the AC,
the Company’s system of internal controls, risk and administratively to the CEO. To ensure the
management procedures, governance framework independence of the IA function, the IA team has
and processes. unrestricted access to the AC.

3. The Company’s internal and external auditors review 8. IA adopts a risk-based approach in formulating its
its key internal controls for material non-compliance annual audit plan that aligns its activities to the key
or failures in internal controls and recommend areas risks across the Company’s businesses, focusing on
of improvements. The AC reviews the effectiveness key internal controls, including financial, operational
of the actions taken by Management in response to and compliance controls. The annual audit plan is
the recommendations made. developed in consultation with, but is independent
of, Management and is approved by the AC. IA
4. The AC also reviews the effectiveness of the also works closely with Management to provide
enterprise risk management framework and the internal consulting and control advisory to promote
risk management processes put in place to manage effective risk management, robust internal control
financial and strategic (business) risks while meeting and good governance practices in the development
business objectives. Control self-assessments in key of new services / products and the implementation
areas of the Group’s businesses / operations are of new / enhanced systems and processes. IA also
70 ANNUAL REPORT 2023/24

CORPORATE 4. The ECAD oversees new development and major

GOVERNANCE redevelopment projects at Changi Airport. The
responsibilities of the ECAD include:

i. reviewing and approving collaborations,

selection of consultants, architects and other
harnesses technology to maximise efficiencies in the professional advisors, design concepts, aesthetic
way it audits, through robust use of analytics and element proposals and other proposals related to
continuous auditing. development projects at Changi Airport; and

9. In line with best practices, IA has a quality assurance ii. reviewing and approving tenders for goods
and improvement programme (QAIP) that covers and services exceeding S$50 million related to
its audit activity and conforms to the International development projects at Changi Airport.
Standards for the Professional Practice of Internal
Auditing. Internal Quality Assurance Reviews (QAR) Nominating Committee
are conducted half-yearly, and external QAR are
carried out at least once every five years by qualified 1. The NC comprises the following Directors:
professionals from an external organisation, which
in 2023, Deloitte & Touche Enterprise Risk Services i. Mr Tan Gee Paw - Chairman
Pte Ltd (“DT”) was appointed to conduct the ii. Mrs Tan Ching Yee
external QAR. iii. Mr Chia Song Hwee
iv. Ms Kwa Kim Li
10. IA’s assessments on the adequacy and effectiveness
of internal controls over processes / systems 2. The NC assists the Board in reviewing the structure,
across the businesses are reported to the AC, and a size, composition, core competencies and skills
summary of key findings and recommendations are required by the Board and its committees to support
also discussed at the AC meetings. IA also tracks the strategic objectives and values of the Company
and reports to the AC on the implementation status and makes relevant recommendations to the Board.
of actions agreed by Management, so as to ensure
prompt and adequate closure of audit observations. Technology & Systems Committee
1. The TSC comprises five Directors and one non-
Airport Development
voting member who has been co-opted to provide
1. The ECAD currently comprises three Directors, additional advice and expertise, as follows:
and six non-voting co-opted members who provide
additional advice and expertise in relation to i. Mr Ng Chee Khern - Chairman
development projects. ii. Mr Chia Song Hwee
iii. Mr Titus Lee
2. The three Directors are: iv. Mr Wahab Yusoff
v. Mr Lee Seow Hiang
i. Mr Tan Gee Paw – Chairman vi. Professor Lui Pao Chuen (co-opted member)
ii. Mr Titus Lee
iii. Mr Lee Seow Hiang 2. The TSC provides guidance to Management on
technology-driven innovation, as well as the
3. The six non-voting co-opted members are: development of technological capabilities in support
of the Company’s transformation. It also guides the
i. Professor Lui Pao Chuen Company on its strategy for the co-development
ii. Mr Lai Huen Poh of solutions and investments into start-ups with
iii. Mr Lee Chuan Seng promising new technologies.
iv. Mr Lee Kut Cheung
v. Mr Kok King Min
vi. Professor Tan Thiam Soon
 CHANGI AIRPORT GROUP 71

ENTERPRISE the Management level, the Management Risk

Committee (RC) is responsible for monitoring the

RISK MANAGEMENT risk management and internal control systems

and ensuring that emerging risks are managed
appropriately. The RC is chaired by the CEO
and comprises Senior Management members of
1. CAG continues to strengthen its risk governance and the Company. It meets regularly to review the
remains steadfast to its commitment to minimise key Company’s key risks and provides strategic guidance
risks as well as the impact of damage through timely to reinforce the implementation of enterprise risk
risk identification and implementation of appropriate management within the Company as needed.
mitigation strategies.
8. The Enterprise Risk Management (ERM) unit supports
2. In financial year 2023/24, CAG continued its efforts the Board Committees and Management in their
to rebuild the Changi air hub and airport business. management of risks within CAG. The ERM unit
Passenger traffic at Changi Airport returned to pre- carries out global risk scanning efforts for emerging
Covid levels by the end of the year. Amidst a tight risks to keep mitigation strategies timely and relevant.
labour market, CAG embarked on trials to transform It also works closely with the programme office to
airport operations to future-proof Changi. The full monitor the Changi East project comprising the
reopening of Terminal 2 in November 2023 also future Terminal 5, connecting tunnels, and the three-
enabled the airport to accommodate the increase in runway system to ensure that risk factors across
passenger traffic. the design and construction phases, such as safety,
operations, scheduling and cost, are mitigated to
3. CAG also forged ahead with its plans to transit achieve optimal project outcomes.
to renewable energy. It navigated through
macroeconomic headwinds, which saw subdued Risk Awareness Culture
consumer spending compounded by rising operating
costs. Despite the challenges, CAG ensured that 9. Risk management is an integral part of CAG’s culture.
Changi Airport continued to operate safely, securely Every employee is to function as a risk manager for
and efficiently. his or her own area of work by being vigilant and
reporting risks in a timely manner. The ERM unit
Risk Governance continues to equip its network of risk management
champions to promote a more robust risk-aware
4. The CAG Board and Management are responsible culture across CAG and enhance risk-considered
for the management of risks in Changi Airport. decision making.
The Board, through the Operational Risk & Safety
Committee (ORSC), provides oversight on operational 10. The ERM unit continues to meet with risk owners
and safety risks, while the review of the Company’s regularly to ensure that risks are adequately
financial and strategic risks is overseen by the Audit addressed. It is involved in key committees such as
Committee (AC). the Information Assurance Committee and the Safety
Committee, and will continue to work alongside
5. The ORSC comprises three Directors and two co- business units to provide risk advisory to help them
opted members, who provide additional advice and meet their business objectives amid challenging
expertise to the Committee. headwinds.

6. The three Directors are / were: Strengthening Cybersecurity

BG Kelvin Fan – Chairman
(stepped down on 21 March 2024) 11. CAG has a Cybersecurity and Digital Governance
Ms Kwa Kim Li division to oversee cybersecurity with an enterprise-
Mr Abdul Wahab Bin Mohamed Yusoff wide vision, strategy and programme. In 2023/24, it
expanded its cybersecurity awareness programme
The two co-opted members are: to instil a strong culture of vigilance and active threat
Mr Mike Barclay detection among its employees. It also demonstrated
Mr Wong Woon Liong its commitment to information security by obtaining
both ISO 27001 certification and Cyber Trust mark for
7. The Board Committees work with the Management its largest online store, iShopChangi. CAG continues to
to ensure effective allocation of resources to strengthen its digital security and resilience to ensure a
create and protect CAG’s assets and value. At safer cyberspace for customers and passengers.
GROUP FINANCIAL
SUMMARY
The Group Financial Summary as set out on pages 72 to 87 contains only
a summary of the information extracted from the Statement by Directors
and the audited consolidated financial statements of Changi Airport
Group (Singapore) Pte. Ltd. and its subsidiaries for the financial year ended
31 March 2024.

For a full understanding of the state of affairs of the Company and the
Group as at 31 March 2024 and of the results of the Group for the financial
year ended 31 March 2024, the Group Financial Summary should be read
in conjunction with the audited consolidated financial statements and the
audit report thereon, which can be obtained via the Company’s website
(http://www.changiairportgroup.com).

73 Directors’ Statement 83 Consolidated Statement of

75 Independent Auditor’s Report Changes in Equity
80 Consolidated Income Statement 84 Consolidated Statement of
81 Consolidated Statement of Cash Flows
Comprehensive Income 86 Listing of Significant
82 Balance Sheets Companies in the Group
 CHANGI AIRPORT GROUP 73

DIRECTORS’
STATEMENT
For the financial year ended 31 March 2024

The directors present their statement to the member together with the audited financial statements of the Group for
the financial year ended 31 March 2024 and the balance sheet of the Company as at 31 March 2024.

In the opinion of the directors,

(a) the balance sheet of the Company and the consolidated financial statements of the Group as set out on pages
9 to 70* are drawn up so as to give a true and fair view of the financial position of the Company and of the
Group as at 31 March 2024 and the financial performance, changes in equity and cash flows of the Group for
the financial year covered by the consolidated financial statements; and

(b) at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its
debts as and when they fall due.

DIRECTORS

The directors of the Company in office at the date of this statement are as follows:

Mr Tan Gee Paw Chairman

Mr Lee Seow Hiang Chief Executive Officer
Mr Abdul Wahab Bin Mohamed Yusoff
Mr Chia Song Hwee
Mrs Chng Sok Hui
Mr Kee Teck Koon
Ms Kwa Kim Li
Mr Mark Yeo
Mr Ng Chee Khern
Mrs Tan Ching Yee
Mr Tan Kong Yam
Mr Titus Lee Huisheng (Alternate director to Mrs Tan Ching Yee)

ARRANGEMENTS TO ENABLE DIRECTORS TO ACQUIRE SHARES AND DEBENTURES

Neither at the end of nor at any time during the financial year was the Company a party to any arrangement whose
object was to enable the directors of the Company to acquire benefits by means of the acquisition of shares in, or
debentures of, the Company or any other body corporate.

* These page numbers refer to the pages in the full set of consolidated financial statements.
74 ANNUAL REPORT 2023/24

DIRECTORS’
STATEMENT
For the financial year ended 31 March 2024

DIRECTORS’ INTERESTS IN SHARES OR DEBENTURES

According to the register of directors’ shareholdings, none of the directors holding office at the end of the financial
year had any interest in the shares or debentures of the Company or its related corporations.

SHARE OPTIONS

There were no options granted during the financial year to subscribe for unissued shares of the Company.

No shares have been issued during the financial year by virtue of the exercise of options to take up unissued shares
of the Company.

There were no unissued shares of the Company under option at the end of the financial year.

INDEPENDENT AUDITOR

The independent auditor, PricewaterhouseCoopers LLP, has expressed its willingness to accept re‑appointment.

On behalf of the Board of Directors

Tan Gee Paw Lee Seow Hiang

Chairman Chief Executive Officer

6 June 2024
 CHANGI AIRPORT GROUP 75

INDEPENDENT
AUDITOR’S REPORT
To the Member of Changi Airport Group (Singapore) Pte. Ltd.

REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS

Our Opinion

In our opinion, the accompanying consolidated financial statements of Changi Airport Group (Singapore) Pte. Ltd.
(the “Company”) and its subsidiaries (the “Group”) and the balance sheet of the Company are properly drawn up in
accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards
(International) (“SFRS(I)s”) so as to give a true and fair view of the consolidated financial position of the Group and the
financial position of the Company as at 31 March 2024 and of the consolidated financial performance, consolidated
changes in equity and consolidated cash flows of the Group for the financial year ended on that date.

What we have audited

The financial statements of the Company and the Group comprise:

• the consolidated income statement of the Group for the financial year ended 31 March 2024;

• the consolidated statement of comprehensive income of the Group for the financial year ended 31 March 2024;

• the balance sheets of the Company and the Group as at 31 March 2024;

• the consolidated statement of changes in equity of the Group for the financial year then ended;

• the consolidated statement of cash flows of the Group for the financial year then ended; and

• the notes to the financial statements, including material accounting policy information.

Basis for Opinion

We conducted our audit in accordance with Singapore Standards on Auditing (“SSAs”). Our responsibilities under
those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements
section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We are independent of the Group in accordance with the Accounting and Corporate Regulatory Authority Code of
Professional Conduct and Ethics for Public Accountants and Accounting Entities (“ACRA Code”) together with the
ethical requirements that are relevant to our audit of the financial statements in Singapore, and we have fulfilled our
other ethical responsibilities in accordance with these requirements and the ACRA Code.
76 ANNUAL REPORT 2023/24

INDEPENDENT
AUDITOR’S REPORT
To the Member of Changi Airport Group (Singapore) Pte. Ltd.

Our Audit Approach

As part of designing our audit, we determined materiality and assessed the risks of material misstatement in the
accompanying financial statements. In particular, we considered where management made subjective judgements;
for example, in respect of significant accounting estimates that involved making assumptions and considering future
events that are inherently uncertain. As in all of our audits, we also addressed the risk of management override of
internal controls, including among other matters consideration of whether there was evidence of bias that represented
a risk of material misstatement due to fraud.

Key Audit Matter

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the
financial statements for the financial year ended 31 March 2024. These matters were addressed in the context of our
audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate
opinion on these matters.

Key Audit Matter How our audit addressed the Key Audit Matter

Property, Plant and Equipment (“PPE”) We performed a walkthrough of the procurement and
fixed assets capitalisation cycle and evaluated the
The Group invests significantly into its capital design, implementation and operating effectiveness
infrastructure assets to support the growth and of key internal controls over payments, accruals and
ongoing operations of the Singapore Changi Airport capitalisation of PPE additions.
and Singapore as an air hub. Whilst the development of
Terminal 5 (“T5”) was temporarily paused in 2020 as a In respect of the additions to PPE arising from suppliers
result of the COVID-19 pandemic, construction of the and contractors, we selected samples of the additions
terminal is expected to start in 2025, with completion and verified that they were appropriately supported by
planned in phases. Works on other areas of the Changi the relevant supplier invoices. For accrued balances, we
East (“CE”) such as the Three runway system and tunnels sighted the relevant certified progress reports to support
continues during the financial year. the appropriateness of the accrued amounts.

The Group’s total additions to PPE, including those We also checked that payments of invoices and progress
relating to CE, amounted to $833 million during the reports used for accrual of unbilled PPE construction
financial year (Note 11*). We focused our audit on the costs were approved by management in accordance with
accounting for additions to PPE for the CE project as the the Delegation of Authority set out by the Board.
additions are material to the financial statements of the
Group. For capitalised employee compensation, we selected
samples to verify that only employee compensation for
At the end of the financial year, management estimates employees working for construction or development
the progress of construction or development works works directly attributable to PPE were capitalised. We
that have not been billed by suppliers and contractors also assessed management’s internal cost allocation to
and accrues for the unbilled PPE under construction. the relevant assets for appropriateness.
Estimates of percentage of completion of construction
are made based on certified progress reports from the We also sighted on a sampling basis, construction-in-
suppliers and contractors. progress assets to verify the existence of asset additions.
 CHANGI AIRPORT GROUP 77

INDEPENDENT
AUDITOR’S REPORT
To the Member of Changi Airport Group (Singapore) Pte. Ltd.

Our Audit Approach (continued)

Key Audit Matter (continued)

Key Audit Matter How our audit addressed the Key Audit Matter

Employee compensation was also capitalised as PPE. We also reviewed the adequacy and appropriateness of
Management reviews the job scopes of employees and disclosures in the financial statements in respect of the
allocation of costs to capitalise as part of PPE on a periodic Group’s PPE balances.
basis to ensure that only employee compensation
directly attributable to CE were capitalised.

Estimation of construction progress, recording of

accruals, capitalisation of internal costs also involve
estimation and judgement.

* This reference is made in relation to the full set of consolidated financial statements.

Other Information

Management is responsible for the other information. The other information comprises the Directors’ Statement (but
does not include the financial statements and our auditor’s report thereon), which we obtained prior to the date of this
auditor’s report, and the other sections of the annual report (“the Other Sections”), which are expected to be made
available to us after that date.

Our opinion on the financial statements does not cover the other information and we do not and will not express any
form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified
above and in doing so consider whether the other information is materially inconsistent with the financial statements
or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

If, based on the work we have performed on the other information that we obtained prior to the date of this auditor’s
report, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

When we read the Other Sections, if we conclude that there is a material misstatement therein, we are required to
communicate the matter to those charged with governance and take appropriate actions in accordance with SSAs.
78 ANNUAL REPORT 2023/24

INDEPENDENT
AUDITOR’S REPORT
To the Member of Changi Airport Group (Singapore) Pte. Ltd.

Responsibilities of Management and Directors for the Financial Statements

Management is responsible for the preparation of financial statements that give a true and fair view in accordance
with the provisions of the Act and SFRS(I)s, and for devising and maintaining a system of internal accounting
controls sufficient to provide a reasonable assurance that assets are safeguarded against loss from unauthorised
use or disposition; and transactions are properly authorised and that they are recorded as necessary to permit the
preparation of true and fair financial statements and to maintain accountability of assets.

In preparing the financial statements, management is responsible for assessing the Group’s ability to continue as
a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic
alternative but to do so.

The directors’ responsibilities include overseeing the Group’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
SSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with SSAs, we exercise professional judgement and maintain professional scepticism
throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
Group’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.

• Conclude on the appropriateness of management’s use of the going concern basis of accounting and based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may
cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may
cause the Group to cease to continue as a going concern.
 CHANGI AIRPORT GROUP 79

INDEPENDENT
AUDITOR’S REPORT
To the Member of Changi Airport Group (Singapore) Pte. Ltd.

Auditor’s Responsibilities for the Audit of the Financial Statements (continued)

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that achieves
fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business
activities within the Group to express an opinion on the consolidated financial statements. We are responsible
for the direction, supervision and performance of the group audit. We remain solely responsible for our
audit opinion.

We communicate with the directors regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide the directors with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to
bear on our independence, and where applicable, related safeguards.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

In our opinion, the accounting and other records required by the Act to be kept by the Company and by those subsidiary
corporations incorporated in Singapore of which we are the auditors, have been properly kept in accordance with the
provisions of the Act.

The engagement partner on the audit resulting in this independent auditor’s report is Kok Moi Lre.

PricewaterhouseCoopers LLP
Public Accountants and Chartered Accountants
Singapore, 6 June 2024
80 ANNUAL REPORT 2023/24

CONSOLIDATED
INCOME STATEMENT
For the financial year ended 31 March 2024

Group
2024 2023
$’000 $’000

Revenue 2,726,929 1,882,523

Expenses
– Depreciation and amortisation (708,556) (704,058)
– Maintenance of land, buildings and equipment (416,990) (395,531)
– Services and security related expenses (264,427) (200,811)
– Employee compensation (344,418) (293,809)
– CAAS services and licence fees (327,354) (114,984)
– Property tax (66,677) (47,283)
– Other operating expenses (105,036) (99,927)
Total expenses (2,233,458) (1,856,403)

Operating profit 493,471 26,120

Finance expenses (71,469) (72,361)

Other income and losses – net 95,959 118,064
Share of results of associated companies and joint ventures 32,969 (43,148)

Profit before tax 550,930 28,675

Income tax expense (132,645) (19,419)

Profit after tax 418,285 9,256

Profit/(loss) after tax attributable to:

Equity holder of the Company 430,932 32,630
Non-controlling interests (12,647) (23,374)
418,285 9,256
 CHANGI AIRPORT GROUP 81

CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
For the financial year ended 31 March 2024

Group
2024 2023
$’000 $’000

Profit after tax 418,285 9,256

Other comprehensive (loss)/income:

Items that may be reclassified subsequently to income statement:

Cash flow hedges

– Fair value (losses)/gains (26,697) 9,595
– Reclassification (9,629) 9,227

Currency translation differences arising on consolidation

– Losses (169) (977)
– Reclassification – (6,005)
Other comprehensive (loss)/income, net of tax (36,495) 11,840

Total comprehensive income 381,790 21,096

Total comprehensive income/(loss) attributable to:

Equity holder of the Company 397,066 40,968
Non-controlling interests (15,276) (19,872)
381,790 21,096
82 ANNUAL REPORT 2023/24

BALANCE
SHEETS
As at 31 March 2024

Group Company
2024 2023 2024 2023
$’000 $’000 $’000 $’000

ASSETS
Current assets
Cash and cash equivalents 2,114,539 1,594,954 2,071,056 1,541,577
Trade and other receivables 350,321 275,166 334,420 261,569
Other investments 762,275 466,833 722,286 428,767
Other current assets 157,873 88,315 153,507 85,105
Derivatives 5,407 – – –
Inventories 8,274 8,267 5,953 5,454
3,398,689 2,433,535 3,287,222 2,322,472
Non-current assets
Trade and other receivables – – 178,345 185,024
Property, plant and equipment 8,675,062 8,494,751 8,646,314 8,465,190
Intangible assets 5,495 6,772 – –
Right-of-use assets 930,265 979,906 929,475 979,906
Subsidiaries – – 333,681 333,681
Associated companies and joint ventures 26,046 22,250 13,614 13,614
Investment property 1,160,181 1,217,843 – –
Other investments 100,614 67,102 94,485 59,890
Derivatives 1,722 13,592 – –
Other non-current assets 20,459 53,664 46,474 79,747
Deferred tax assets 28,789 23,950 – –
10,948,633 10,879,830 10,242,388 10,117,052

Total assets 14,347,322 13,313,365 13,529,610 12,439,524

LIABILITIES
Current liabilities
Trade and other payables 1,017,302 900,108 1,213,736 1,069,785
Lease liabilities 75,899 76,378 75,558 76,378
Derivatives – 227 – 227
Deferred income 115,813 75,444 99,813 62,919
Current tax liabilities 133,788 26,160 120,008 13,851
1,342,802 1,078,317 1,509,115 1,223,160
Non-current liabilities
Trade and other payables 122,490 183,146 76,710 138,842
Lease liabilities 936,048 972,300 935,638 972,300
Loans and borrowings 1,924,719 1,971,824 750,000 750,000
Derivatives 137,302 100,000 37,302 –
Deferred income 3,265,383 2,774,009 3,265,383 2,774,009
Deferred tax liabilities 113,209 90,792 111,997 90,792
6,499,151 6,092,071 5,177,030 4,725,943

Total liabilities 7,841,953 7,170,388 6,686,145 5,949,103

NET ASSETS 6,505,369 6,142,977 6,843,465 6,490,421

EQUITY
Share capital and reserves 3,789,666 3,820,758 3,761,420 3,789,608
Retained profits 2,846,992 2,438,232 3,082,045 2,700,813
6,636,658 6,258,990 6,843,465 6,490,421
Non-controlling interests (131,289) (116,013) – –
Total equity 6,505,369 6,142,977 6,843,465 6,490,421
 CHANGI AIRPORT GROUP 83

CONSOLIDATED STATEMENT OF
CHANGES IN EQUITY
For the financial year ended 31 March 2024

Attributable to owners of the Company

Hedging Currency Sinking Non-
Share and other translation fund Retained controlling Total
capital reserves reserve reserve profits Total interests equity
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000

2024
Beginning of financial
year 3,280,387 33,615 (2,465) 509,221 2,438,232 6,258,990 (116,013) 6,142,977
Profit/(loss) for the
year – – – – 430,932 430,932 (12,647) 418,285
Other comprehensive
loss – (33,697) (169) – – (33,866) (2,629) (36,495)
Total comprehensive
(loss)/income – (33,697) (169) – 430,932 397,066 (15,276) 381,790

Transactions with
equity holder
recognised directly
in equity – Dividend
paid – – – – (19,398) (19,398) – (19,398)
Sinking fund
contribution – – – 2,774 (2,774) – – –
Total movements in
equity – – – 2,774 (22,172) (19,398) – (19,398)

End of financial year 3,280,387 (82) (2,634) 511,995 2,846,992 6,636,658 (131,289) 6,505,369

2023
Beginning of financial
year 3,280,387 18,295 4,517 508,377 2,406,446 6,218,022 (96,141) 6,121,881
Profit/(loss) for the
year – – – – 32,630 32,630 (23,374) 9,256
Other comprehensive
income – 15,320 (6,982) – – 8,338 3,502 11,840
Total comprehensive
income – 15,320 (6,982) – 32,630 40,968 (19,872) 21,096

Sinking fund
contribution – – – 844 (844) – – –
Total movements in
equity – – – 844 (844) – – –

End of financial year 3,280,387 33,615 (2,465) 509,221 2,438,232 6,258,990 (116,013) 6,142,977
84 ANNUAL REPORT 2023/24

CONSOLIDATED STATEMENT OF
CASH FLOWS
For the financial year ended 31 March 2024

2024 2023
$’000 $’000

Cash flows from operating activities

Profit after tax 418,285 9,256
Adjustments for:
– Income tax expense 132,645 19,419
– Depreciation and amortisation 708,556 704,058
– Government grant (43,637) (46,605)
– Net loss on disposal of property, plant and equipment 12,261 393
– Gain on disposal of an associated company – (46,249)
– Impairment/(write-back of impairment) of trade and other receivables 165 (217)
– Share of results of associated companies and joint ventures (32,969) 43,148
– Unrealised currency translation differences 3,947 (11,925)
– (Gain)/loss on financial assets held at fair value (13,565) 12,399
– (Gain)/loss on fair value of derivative instrument (227) 227
– Amortisation of deferred revenue (6,889) (3,981)
– Finance expenses 71,469 72,361
– Interest income (78,268) (33,894)
– Dividend income – (553)
1,171,773 717,837
Changes in working capital
– Inventories (8) 1,675
– Trade and other receivables (50,779) (79,889)
– Other assets (38,888) (47,340)
– Trade and other payables 180,022 96,654
Cash provided by operations 1,262,120 688,937

Interest received 65,209 17,421

Government grants received 41,378 124,423
Income tax refund/(paid) 84 (8,525)
Net cash provided by operating activities 1,368,791 822,256
 CHANGI AIRPORT GROUP 85

CONSOLIDATED STATEMENT OF
CASH FLOWS
For the financial year ended 31 March 2024

2024 2023
$’000 $’000

Cash flows from investing activities

Additions to property, plant and equipment and capital work-in-progress (809,731) (1,054,476)
Additions to investment property and investment property under development (1,196) (16,916)
Additions to intangible assets (611) (3,164)
Proceeds from disposal of property, plant and equipment and intangible assets 60 163
Proceeds from disposal of an associated company – 10,001
Investment in associated companies and joint ventures – (386)
Dividends received 1,441 3,965
Placement in treasury bills (587,068) (30,887)
Proceeds from maturity of treasury bills 274,997 –
Purchase of financial assets at amortised cost (35,581) (50,000)
Purchase of financial assets at fair value through profit or loss (55,211) (7,966)
Redemption of financial assets at fair value through profit or loss 87,500 97,702
Net cash used in investing activities (1,125,400) (1,051,964)

Cash flow from financing activities

Proceeds from loans and borrowings, net of transactions costs 5,019 –
Repayment of loans and borrowings (53,000) (45,000)
Interest paid (84,946) (82,691)
Payment of lease principal (36,295) (37,868)
Release of restricted bank deposits – 960
Dividends paid (19,398) –
Government grants received 464,687 639,650
Net cash provided by financing activities 276,067 475,051

Net increase in cash and cash equivalents 519,458 245,343

Cash and cash equivalents at beginning of financial year 1,594,954 1,349,895
Effects of currency translation on cash and cash equivalents 127 (284)
Cash and cash equivalents at end of financial year 2,114,539 1,594,954
86 ANNUAL REPORT 2023/24

LISTING OF SIGNIFICANT
COMPANIES IN THE GROUP
For the financial year ended 31 March 2024

Country of
business/
Name of companies Principal activities incorporation Equity holding
2024 2023
% %

Significant subsidiaries

Held by the Company:

Changi Airports International Pte. Ltd. (a) Investment holding and provision of Singapore 100 100
consultancy services in the field of
civil aviation

Changi Travel Services Pte. Ltd. (a) Sale of travel and tour-related Singapore 100 100
products and packages

Jewel Changi Airport Holdings Pte. Ltd. (a) Investment holding Singapore 100 100

E-Concierge Pte Ltd (a) E-commerce distribution Singapore 100 100

Held by the Group:

Changi Airport Consultants Pte. Ltd. (a) Provision of airport-related Singapore 100 100
consultancy services

Changi Airport Planners and Engineers Provision of professional engineering Singapore 100 100
Pte. Ltd. (a) services in the field of civil aviation

Changi Airport Philippines (I) Pte. Ltd. (a) Investment holding Singapore 100 100

Rio de Janeiro Aeroporto S.A (b) Investment holding Brazil 100 100

Jewel Changi Airport Devt Pte Ltd (a) Provision of development, project, Singapore 51 51
and real estate management services

Jewel Changi Airport Hotel Pte Ltd (a) Hotel and F&B operations Singapore 51 51

Jewel Changi Airport Trust (a) Operation and management of Singapore 51 51

mixed-use development

Jewel Changi Airport Trustee Pte Ltd (a) Provision of trustee-management Singapore 51 51
services

CTS Southeast Asia Pte. Ltd. (a) Investment holding Singapore 100 100

Changi Travel International Pte. Ltd. (a) Provision of management services Singapore 100 100
and representing airlines as general
sales agent
 CHANGI AIRPORT GROUP 87

LISTING OF SIGNIFICANT
COMPANIES IN THE GROUP
For the financial year ended 31 March 2024

Country of
business/
Name of companies Principal activities incorporation Equity holding
2024 2023
% %

Significant associated companies and joint ventures

Held by the Company:

Experia Events Pte Ltd (a) Organising and management of Singapore 20 20

conferences, exhibitions and other
related activities

Held by the Group:

Concessionária Aeroporto Rio de Airport concessionaire Brazil 51 51

Janeiro S.A (b)

Bengal Aerotropolis Projects Ltd (c) Development of airport and India 30.2 30.2
township projects

Sino-Singapore Chongqing Airport Provision of retail mall management People’s 49 49

Commercial Management Co., Ltd. (b) services Republic of
China

(a) Audited by PricewaterhouseCoopers LLP, Singapore.

(b) Audited by PricewaterhouseCoopers firms outside of Singapore.
(c) Audited by other firms
88 ANNUAL REPORT 2023/24

ANNEX: GHG EMISSIONS

QUANTIFICATION METHODOLOGY
This section explains the calculation boundaries, methodologies and assumptions used in the preparation of CAG’s
Scope 1, 2 and 3 emissions. The carbon footprint is prepared in accordance with ISO 14064-1:2018, Greenhouse
Gas (GHG) Protocol and the Airport Carbon Accreditation (ACA) guidelines.

Reporting scope and period

CAG uses an adaptation of the Operational Control Approach, where the company accounts for 100% of the GHG
emissions from operations over which it has control. Following requirements for Level 3 “Optimisation” Airport
Carbon Accreditation, this carbon footprint takes into account the sources and activities controlled by CAG,
namely, Scope 1 and Scope 2 GHG emissions, as well as sources that CAG can guide or influence through effective
partnership (Scope 3 GHG emissions). CAG focuses on calculating carbon dioxide (CO2) emissions for all three
scopes.

Data for GHG emission calculations includes Terminals 1 to 4, as well as emissions under CAG’s direct operational
control (Scope 2) in Jewel Changi Airport Trustee Pte Ltd (JCAT). Electricity onsold to JCAT as a private developer is
included in CAG’s Scope 3 emissions.

CAG’s energy and emissions data is externally verified on an annual basis. In this report, CAG’s energy and
emissions data for FY23/24 have been disclosed with verified FY19/20, FY20/21, FY21/22 and FY22/23 data for
comparability.

Calculation methodologies
Our methodologies are consistent with the ACI Guidance Manual on Airport Greenhouse Gas Emissions
Management and the GHG Protocol. Emissions are divided according to ownership and control of the source.

Scope 1

Scope 1 emissions are direct GHG emissions which occur from sources owned or controlled by CAG. This
includes emissions from both stationary sources (power generators, electrical switchgears and other stationary
equipment) and mobile sources (company-owned vehicles and heavy-duty equipment). Activities and process
emissions from firefighting exercises are also included.

The quantity of Scope 1 GHG emissions is calculated by multiplying activity data by their respective emission
factors. Activity data was obtained from procurement invoices and operational records.
 CHANGI AIRPORT GROUP 89

Scope 2

Scope 2 emissions are indirect GHG emissions which occur from the generation of purchased electricity
consumed by CAG.

The quantity of Scope 2 GHG emissions is calculated by multiplying electricity usage (in kWh) by the national
grid emission factor. Data for electricity usage was obtained from receipts issued by the electricity supplier.
The grid emission factor used is released by the Energy Market Authority (EMA) in accordance with the United
Nations Framework Convention on Climate Change (UNFCC) guidelines.

Scope 3

Scope 3 emissions are other indirect GHG emissions that are a consequence of CAG’s activities but occur at
sources not owned or controlled by CAG. Due to the variety of Scope 3 GHG emission sources within scope, a
range of methodologies has been used.

For emissions resulting from activities involving aircraft (landing and takeoff cycle, engine test-run and aircraft
auxiliary power unit), the Airports Council International (ACI), Airport Carbon and Emissions Reporting Tool
is used. For emissions resulting from ground activities that are carried out by our partners (ground support
equipment, surface access, electricity resold, waste management), a similar calculation approach used for
quantifying Scope 1 and Scope 2 emissions is used. Emissions from the shuttle bus operations are calculated
with the use of the GHG Emissions Calculation Tool. Finally, for business travel, the International Civil Aviation
Organization Carbon Emissions Calculator is used. For every calculation tool/model used, CAG has applied
suitable assumptions to the input data. Refer to the table below for the respective emission factors used.

References for emission factors

1. Airports Council International (ACI), Airport Carbon and Emissions Reporting Tool (ACERT) version 6.0
2. Energy Market Authority of Singapore (EMA) (2022), Singapore Energy Statistics
3. United States Environmental Protection Agency (US EPA) (June 2024), Emission Factors for Greenhouse Gas
Inventories
4. UK Department for Energy Security and Net Zero Greenhouse Gas Reporting Conversion Factors 2023
90 ANNUAL REPORT 2023/24

Emission Factors Unit

Scope 1 Emissions
Stationary Sources
Diesel stationary 2.6594 kgCO2e/litre
Jet A-1 stationary 2.5427 kgCO2e/litre
Motor gasoline stationary 2.3450 kgCO2e/litre
Sulfur hexafluoride (SF6) 23,500 kgCO2e/litre
Mobile Sources
Diesel mobile 2.6594 kgCO2e/litre
Gasoline mobile 2.3450 kgCO2e/litre
Scope 2 Emissions
Electricity Consumption
2022 National Grid Emission Factor 0.4168 kgCO2e/kWh
2020 National Grid Emission Factor 0.4085 kgCO2e/kWh
2018 National Grid Emission Factor 0.4192 kgCO2e/kWh
Scope 3 Emissions
Ground Support Equipment
Diesel mobile 2.6594 kgCO2e/litre
Gasoline mobile 2.3450 kgCO2e/litre
Surface Access
Coach 0.0441 kgCO2e/vehicle-km
Minibus/van 0.2517 kgCO2e/vehicle-km
Motorcycle 0.2336 kgCO2e/vehicle-km
Private charter 0.1901 kgCO2e/vehicle-km
Private hire care 0.1901 kgCO2e/vehicle-km
Private hire shared ride 0.1901 kgCO2e/vehicle-km
Privately owned car 0.1901 kgCO2e/vehicle-km
Taxi (Grab taxi) 0.1901 kgCO2e/vehicle-km
Taxi (Phone booking) 0.1901 kgCO2e/vehicle-km
Taxi (Street hail) 0.1901 kgCO2e/vehicle-km
Mass Rapid Transit (MRT) 0.0578 kgCO2e/passenger-km
Public bus 0.0441 kgCO2e/passenger-km
Electricity Re-sold
2022 National Grid Emission Factor 0.4168 kgCO2e/kWh
2020 National Grid Emission Factor 0.4085 kgCO2e/kWh
2018 National Grid Emission Factor 0.4192 kgCO2e/kWh
Waste Management
0% load 0.6583 kgCO2e/kWh
50% load 0.7831 kgCO2e/kWh
100% load 0.9078 kgCO2e/kWh

Airport Shuttle Bus 0.0441 kgCO2e/passenger-km

 CHANGI AIRPORT GROUP 91

ANNEX:
SOCIAL INDICATORS

Community Investment

Current Community Investment Targets

Goal
Achieve 25% staff volunteerism by FY25/26 26.8%
Achieve 3,000 volunteer hours yearly by FY25/26 3,767
Engage 35 Airport Partners to join our Changi Foundation programme by FY25/26 13
Offer a minimum of 80 annual job attachments to youth beneficiaries from FY25/26 onwards 36

Fair Employment Practices

Employee Numbers
Total Employees Age Group Total
< 30 30 - 50 > 50
Male 240 852 227 1,319
Female 145 535 106 786

Total Employees Employment Contract Total

Permanent Temporary
Male 1,319 0 1,319
Female 786 0 786

Total Employees Employment Type Total

Full-time Part-time
Male 1,318 1 1,319
Female 785 1 786
92 ANNUAL REPORT 2023/24

ANNEX:
SOCIAL INDICATORS

Fair Employment Practices (cont’d)

Employee Numbers
New Hires Age Group Total
< 30 30 - 50 > 50
Male 77 72 2 151
Female 65 43 1 109

Employee Turnover Age Group Total

(Voluntary only)
< 30 30 - 50 > 50
Male 24 42 1 67
Female 11 16 2 29

Collective Bargaining Agreements

Percentage of total employees covered by collective bargaining agreements 55.5%
Percentage of CAG’s employees that are part of SMMWU 30.8%

People Development

Total number of training events 170

Percentage of employees attending at least one training event 94%

Category of learning and development programmes1 Percentage of

total programmes
Experiential 6%
Social 15%
Formal learning 79%
1 CAG categorises learning and development programmes into three categories - Experiential, Social and Formal Learning.
• Experiential Learning provides hands-on experiences to better connect real-world situations. Examples include i-Friday
Experiential Tour: Journey to the East and Airport Emergency Trainings.
• Social Learning aims to provide learning through behavioural observations, through brownbag talks.
• Formal Learning refers to focused and structured learning programs identified and defined by the organisation.
 CHANGI AIRPORT GROUP 93

People Development (cont’d)

Training Hours: Breakdown2

Average Training Hours
Male 7.6
Female 5.8
Average Training Hours
Support Staff 6.6
Professional Staff 7.1
2 Higher average training hours among male employees is due to the inclusion of mandatory annual AES training, as AES is
predominantly comprised of younger males owing to the nature and demands of the job. As majority of the Support Staff are
from AES, and with full resumption of operations - the clocked training hours in FY23/24 were lower than FY22/23.

Performance and Career Development Reviews: Breakdown

Employees Receiving Performance and Career Development Reviews
Support Staff Professional Staff
Male 373 946
Female 85 701
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CORPORATE
INFORMATION
Changi Airport Group (Singapore) Pte. Ltd.
60 Airport Boulevard
#046-037-01
Changi Airport Terminal 2
Singapore 819643
Tel: +65 6595 6868
Email: cmc@changiairport.com
Website: www.changiairportgroup.com
Company Registration No. 20091087N

Download this annual report and the sustainability report at

www.changiairportgroup.com
CHANGI
AIRPORT
GROUP
ANNUAL REPORT
2023/24