Wei Yuan Holdings Limited 偉 源 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1343） （「本公司」） 提名委員會 （「委員會」） 之 職權範圍 成員 會議的次數及會議程式 – 1 – 1. 委員會須由本公司董事會（「董事會」）委任的不少於三名董事出任，並須以本 公司的獨立非執行董事佔大多數且委員會至少有一名不同性別的成員。 2. 委員會的主席須由董事會委任，並且為本公司的董事會主席或獨立非執行董 事。 3. 可藉董事會通過的決議案撤銷委任委員會成員及委任新成員替代。 4. 不可委任委員會任何成員的候補成員。 5. 本公司的公司秘書為委員會的秘書。 6. 委員會的組成須遵照《上市規則》（ 經不時修訂）的規定。 7. 委員會須於本公司舉行股東週年大會前舉行會議，並於會上考慮委任本公司 的董事（「董事」）。如委員會的工作需要時，應該舉行額外會議。 8. 任何會議通知須至少於會議舉行日期前七天送交委員會的全體成員，惟委員 會的全體成員一致豁免有關通知則除外。會議通知須列明會議舉行的日期、 時間及地點，並附上會議議程連同任何其他須經委員會成員審議的文件。 9. 委 ...

Wei Yuan Holdings Limited 偉 源 控 股 有 限 公 司 黃晨東先生 李頴然小姐 George Christopher Holland先生 董事會轄下設有三個委員會。下表提供各董事會成員在該等委員會所擔任職位的 資料。 | 董事委員會 | 審核委員會 | 薪酬委員會 | 提名委員會 | | --- | --- | --- | --- | | 董事 | | | | | 伍天送先生 | — | — | C | | 伍沺華先生 | — | M | — | | 黃晨東先生 | M | C | M | | 李頴然小姐 | C | — | M | | George Christopher Holland先生 | M | M | — | 附註： （於開曼群島註冊成立的有限公司） （股份代號：1343） 董事名單與其角色和職能 偉源控股有限公司（「本公司」）董事會（「董事會」）成員載列如下。 執行董事 伍天送先生 （ 主席 ） 伍沺華先生 獨立非執行董事 C： 相關董事委員會主席 M： 相關董事委員會成員 新加坡，二零二五年八月二十八日 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 偉源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公司提名 委員會（「提名委員會」）及薪酬委員會（「薪酬委員會」）組成有以下變動，自二零二 五年八月二十八日起生效： 提名委員會 (i) 獨立非執行董事George Christopher Holland先生不再擔任成員；及 (ii) 獨立非執行董事李頴然小姐獲委任為成員。 Wei Yuan Holdings Limited 偉 源 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：1343） 董事委員會組成變動 上述變動乃為遵守香港聯合交易所有限公司證券上市規則附錄C1所載於二零二五 年七月一日生效的經修訂企業管治守則而作出。 承董事會命 偉源控股有限公司 主席兼執行董事 伍天送 新加坡，二零二五年八月二十八日 於本公告日期，董事會包括兩名執行董 ...

格隆汇8月18日丨伟源控股(01343.HK)宣布，本公司将于2025年8月28日（星期四）举行董事会会议，藉 以审议及批准（其中包括）本公司及其附属公司截至2025年6月30日止六个月的中期业绩以及派发中期 股息（如有）。 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 偉源控股有限公司 主席兼執行董事 伍天送 新加坡，二零二五年八月十八日 於本公告日期，董事會包括兩名執行董事伍天送先生及伍沺華先生；以及三名獨 立非執行董事黃晨東先生、李頴然小姐及George Christopher Holland先生。 （於開曼群島註冊成立的有限公司） （股份代號：1343） 董事會會議日期 偉源控股有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈，本公司將於 二零二五年八月二十八日（ 星期四 ）舉行董事會會議，藉以審議及批准（ 其中包括 ） 本公司及其附屬公司截至二零二五年六月三十日止六個月之中期業績以及派發中 期股息（ 如有 ）。 Wei Yuan Holdings Limited 偉 源 控 股 有 限 公 司 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | 致：香港交易及結算所有限公司 公司名稱: 偉源控股有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01343 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 2,000,000,000 | HKD | | 0.01 HKD | | 20,000,000 | 本月底法定/註冊股本總額： HKD 20,000,000 FF301 第 1 頁 共 10 ...

Financial Performance - The group's revenue for the fiscal year ending December 31, 2024, was SGD 97.003 million, a decrease of 4.5% from SGD 101.575 million in 2023[11] - Gross profit for the same period was SGD 12.866 million, down 11.1% from SGD 14.478 million in 2023[11] - The group reported a profit attributable to equity holders of SGD 1.714 million, an increase of 123.5% compared to SGD 0.768 million in 2023[11] - Total revenue for the fiscal year 2024 is approximately SGD 97.0 million, a decrease of about 4.5% from SGD 101.6 million in fiscal year 2023[21] - Contract engineering revenue decreased by approximately SGD 6.5 million, primarily due to a decline in power cable installation project revenue by about SGD 9.2 million[25] - Gross profit for fiscal year 2024 is approximately SGD 12.9 million, down from SGD 14.5 million in fiscal year 2023, resulting in a gross profit margin decrease from approximately 14.3% to 13.3%[22] - Other income increased to approximately SGD 1.0 million in fiscal year 2024, up from SGD 0.8 million in fiscal year 2023, mainly due to an increase in fair value gains from investment properties[23] - The net profit for fiscal year 2024 is approximately SGD 1.9 million, an increase from SGD 1.3 million in fiscal year 2023[32] Assets and Liabilities - Total assets as of December 31, 2024, were SGD 104.316 million, a decrease from SGD 109.317 million in 2023[12] - Total liabilities decreased to SGD 46.230 million from SGD 53.020 million in 2023, reflecting a reduction of 12.5%[12] - As of December 31, 2024, the group's current assets net balance is approximately SGD 35.7 million, compared to SGD 33.2 million as of December 31, 2023[34] - As of December 31, 2024, the total borrowings of the group amounted to approximately SGD 25.7 million, a decrease from SGD 32.2 million as of December 31, 2023[36] - The debt-to-equity ratio as of December 31, 2024, was approximately 44.2%, down from 57.2% as of December 31, 2023, primarily due to a reduction in borrowings and lease liabilities by about SGD 6.5 million[37] - The net debt-to-total capital ratio was approximately 8.7% as of December 31, 2024, down from 14.8% as of December 31, 2023, attributed to a decrease in cash and bank deposits by about SGD 2.3 million and a reduction in borrowings and lease liabilities[38] Projects and Business Opportunities - The group secured approximately SGD 241.2 million in new projects by December 2024, indicating ongoing business opportunities despite market challenges[16] - The total number of ongoing projects as of December 31, 2024, is 28, with a total contract value of approximately SGD 514.1 million, of which SGD 95.2 million has been recognized as revenue[17] - The construction industry in Singapore grew by 4.4% year-on-year in Q4 2024, driven by both public and private sector expansion[14] - The group aims to prioritize cash savings and cost control while expanding market share in response to rising construction costs and economic uncertainties[7] - The company plans to closely monitor global economic trends and market conditions to enhance operational efficiency and competitiveness[16] Corporate Governance and Management - The management team includes experienced individuals with over 30 years in the construction industry, ensuring strategic oversight and operational management[55][56] - Independent non-executive director Mr. Huang Chen Dong was appointed on February 18, 2020, and serves as the chairman of the remuneration committee and a member of the audit and nomination committees[57] - Ms. Li Ying Ran, also an independent non-executive director since February 18, 2020, chairs the audit committee and is a member of the remuneration committee[59] - The company has established an audit committee consisting of three independent non-executive directors to review risk management and internal control systems[152] - The board consists of two executive directors and three independent non-executive directors, ensuring compliance with relevant guidelines[134] Audit and Internal Controls - The company faced audit issues due to the absence of the main contact person, Mr. Huang, which hindered access to necessary accounting records and documents[51] - The board believes that the audit issues are a one-time event and has developed a detailed plan to strengthen internal control policies regarding future subsidiary sales, particularly for overseas subsidiaries[54] - The company issued a qualified opinion on its consolidated financial statements for the year due to the inability to arrange an audit for the sold entity, Zhangde Holdings Limited and its subsidiaries[160] - The board has identified internal control deficiencies in obtaining and preserving accounting records from overseas subsidiaries, leading to the implementation of enhanced internal control policies effective April 8, 2025[161] - The company has established strict internal control policies to manage accounting records, with monthly performance reports submitted to management[160] Environmental, Social, and Governance (ESG) - The annual Environmental, Social, and Governance (ESG) report will disclose relevant information for the fiscal year 2024, covering January 1 to December 31, 2024[168] - The report adheres to the guidelines set forth in the Environmental, Social, and Governance (ESG) Reporting Guidelines as per the Main Board Listing Rules[170] - The group has conducted a materiality assessment to identify key issues for the reporting period, ensuring that significant topics are prioritized in the ESG report[171] - The group emphasizes the collection and recording of key performance data related to environmental and social metrics, presenting quantitative data in the ESG report[171] - The board is responsible for the overall supervision of ESG matters, ensuring alignment with corporate social responsibility and strategic growth[176] Shareholder Matters - The company does not recommend any final dividend for fiscal year 2024, consistent with fiscal year 2023[33] - The board has decided not to declare a final dividend for the current year[87] - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs and future growth[86] - The company has issued 1,064,000,000 shares with a par value of HKD 0.01 as of December 31, 2024[84] - The company has no knowledge of any tax relief available to shareholders for holding shares[127] Sustainability and Environmental Impact - The company aims to reduce greenhouse gas emissions density by 5% by 2030, using 2022 as the baseline[183] - In 2024, the total greenhouse gas emissions amounted to 9,411.07 tons of CO2 equivalent, an increase from 6,914.74 tons in 2023[189] - The company reported a significant increase in nitrogen oxides (NOx) emissions, rising to 16.12 tons in 2024 from 5.59 tons in 2023[186] - The company has established an environmental management system in accordance with ISO 14001:2015 standards[182] - The company has set a goal to maintain non-hazardous waste density while reducing energy consumption density by 5% by 2030[185]

Financial Performance - Total revenue for the year ended December 31, 2024, was 97,003 thousand SGD, a decrease of 4.1% compared to 101,575 thousand SGD in 2023[3] - Gross profit for the same period was 12,866 thousand SGD, down 11.1% from 14,478 thousand SGD in the previous year[3] - Operating profit before tax was 2,762 thousand SGD, an increase of 9.5% compared to 2,521 thousand SGD in 2023[3] - Net profit for the year was 1,899 thousand SGD, representing a 41.0% increase from 1,346 thousand SGD in 2023[4] - Basic earnings per share increased to 0.16 SGD from 0.07 SGD, reflecting a significant improvement in profitability[4] - The group’s net profit for the year was approximately 1.9 million SGD in FY2024, up from about 1.3 million SGD in FY2023, attributed to reduced gross loss and lower share of joint venture losses[70] Revenue and Income Sources - Other income increased to 1,012 thousand SGD from 798 thousand SGD, showing growth in non-operating revenue streams[3] - Government grants received were 125 thousand New Taiwan Dollars in 2023, increasing to 168 thousand New Taiwan Dollars in 2024, indicating a growth of approximately 34.4%[19] - The group’s profit from the sale of investment properties was 202 thousand New Taiwan Dollars in 2024, compared to a loss of 80 thousand New Taiwan Dollars in 2023, indicating a significant turnaround[19] - Other income and net other gains increased from approximately 0.8 million SGD in FY2023 to about 1.0 million SGD in FY2024, mainly due to increases in investment property fair value gains and rental income[62] Expenses and Cost Management - Administrative expenses decreased to 9,346 thousand SGD from 9,642 thousand SGD, indicating cost management efforts[3] - The group’s total operating expenses were 30,385 thousand New Taiwan Dollars in 2024, slightly down from 30,966 thousand New Taiwan Dollars in 2023[21] - Financial costs for the year 2024 amount to 1,431,000 thousand New Taiwan dollars, a decrease from 1,598,000 thousand New Taiwan dollars in 2023, reflecting improved cost management[22] - The total employee cost for the fiscal year 2024 is approximately SGD 27.7 million, slightly increasing from SGD 27.6 million in the fiscal year 2023[84] Assets and Liabilities - Total assets decreased from 80,529 thousand NTD in 2023 to 76,683 thousand NTD in 2024, a decline of approximately 4.3%[5] - Current liabilities increased from 47,291 thousand NTD in 2023 to 40,943 thousand NTD in 2024, a decrease of about 13.4%[6] - The net value of current assets rose from 33,238 thousand NTD in 2023 to 35,740 thousand NTD in 2024, an increase of approximately 7.5%[5] - Total equity increased from 56,297 thousand NTD in 2023 to 58,086 thousand NTD in 2024, reflecting a growth of about 3.2%[6] - The company reported a cash and cash equivalents balance of 16,239 thousand NTD in 2024, down from 18,967 thousand NTD in 2023, a decrease of approximately 14.4%[5] Financial Management and Reporting - The company reported a finance income of 201 thousand SGD, up from 82 thousand SGD, highlighting improved financial management[3] - The company has adopted new International Financial Reporting Standards (IFRS) effective from January 1, 2024, which includes IFRS 16 regarding lease liabilities and IFRS 1 for classifying liabilities as current or non-current[10] - The group is currently evaluating the impact of IFRS 18 on its consolidated financial statements, which will affect the presentation and disclosure of the income statement[14] - The company has not applied any new or amended IFRS that have been issued but are not yet effective, indicating a cautious approach to upcoming standards[11] Market Position and Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming fiscal year[2] - The company has identified potential acquisition targets to enhance its market position and product offerings[2] - The group will continue to monitor global economic trends and market conditions closely, taking timely measures to enhance operational and production efficiency[54] - The group aims to prioritize cash conservation and implement cost control measures while actively participating in bidding for new projects to solidify its market position[54] Shareholder and Corporate Governance - The board does not recommend a final dividend for the year ending December 31, 2024[48] - The group has adhered to corporate governance guidelines, with minor deviations noted[88] - The audit committee has reviewed the financial performance for the fiscal year 2024 and has no objections to the accounting principles adopted by the company[96] Joint Ventures and Investments - The investment in joint ventures as of December 31, 2024, is valued at 1,932,000 thousand New Taiwan dollars, a decrease from 3,623,000 thousand New Taiwan dollars in 2023, indicating potential challenges in joint venture performance[27] - The company has maintained a 40% ownership interest in its joint ventures, reflecting stable strategic partnerships[28] - Share of losses from joint ventures decreased from approximately 0.7 million SGD in FY2023 to about 0.1 million SGD in FY2024[67] Challenges and Future Outlook - The company expects ongoing challenges in the business environment, including global economic uncertainty and rising material and labor costs[53] - The company has not disclosed any interests in competing businesses by its controlling shareholders or directors as of December 31, 2024[94]

Financial Performance - Revenue for the six months ended June 30, 2024, was SGD 45.432 million, a decrease of 1.45% compared to SGD 46.101 million in the same period of 2023[11] - Gross profit for the same period was SGD 6.070 million, with a gross margin of approximately 13.36%[11] - The operating profit for the six months was SGD 2.206 million, reflecting a significant improvement from a loss of SGD 4.896 million in the previous year[11] - Net profit attributable to equity holders for the period was SGD 2,000, representing a recovery from a loss of SGD 750,000 in the prior year[11] - The company reported a total comprehensive income of SGD 806,000 for the period, compared to SGD 1.136 million in the same period last year[12] - Basic earnings per share for the period was SGD 0.0002, down from SGD 0.04 in the previous year[12] - The company recognized other comprehensive income of SGD 589,000, significantly higher than SGD 120,000 in the prior year[12] - The company recorded a net profit of approximately 0.2 million SGD for the six months ended June 30, 2024, down from approximately 1.0 million SGD for the same period in 2023, a decrease of about 0.8 million SGD[154] Assets and Liabilities - Total assets as of June 30, 2024, amounted to SGD 76.948 million, compared to SGD 79.579 million as of December 31, 2023[13] - Current liabilities decreased to SGD 41.925 million from SGD 47.291 million at the end of 2023, indicating improved liquidity[13] - As of June 30, 2024, total equity increased to 57,103 thousand SGD from 56,297 thousand SGD as of January 1, 2024, reflecting a growth of approximately 1.43%[16] - The company reported a retained earnings balance of 24,906 thousand SGD as of June 30, 2024, slightly up from 24,904 thousand SGD at the beginning of the year[16] - The cash and cash equivalents at the end of the period decreased to 18,447 thousand SGD from 20,772 thousand SGD, indicating a decline of approximately 11.2%[20] - The company’s total assets as of June 30, 2024, were not explicitly stated but can be inferred to have increased given the rise in total equity[16] - The total liabilities for SWG Alliance Pte. Ltd. were 2,999 thousand SGD, comprising current liabilities of 2,605 thousand SGD and non-current liabilities of 395 thousand SGD[60] - The total liabilities, including current and non-current, were 3,057,000 SGD as of June 30, 2024, down from 3,279,000 SGD as of December 31, 2023[100] Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2024, was 6,340 thousand SGD, compared to 5,903 thousand SGD for the same period in 2023, representing an increase of about 7.4%[20] - The company’s investment activities resulted in a net cash outflow of 2,587 thousand SGD for the six months ended June 30, 2024, compared to a net cash outflow of 1,568 thousand SGD in the previous year[20] - The company’s financing activities generated a net cash inflow of 14,939 thousand SGD for the six months ended June 30, 2024, compared to an outflow of 3,838 thousand SGD in the previous year[20] - The company’s cash and cash equivalents stood at 18,447,000 SGD as of June 30, 2024, slightly down from 18,967,000 SGD as of December 31, 2023, a decrease of 2.7%[72] - Cash and cash equivalents decreased from 18,891,000 to 13,073,000 SGD, a reduction of approximately 31%[89] Revenue Sources - Revenue from major clients included Client 1 generating 16,678 thousand SGD, Client 2 generating 8,915 thousand SGD, and Client 3 generating 6,734 thousand SGD, collectively accounting for over 10% of total revenue[27] - The decline in revenue was primarily due to reduced earnings from road milling and resurfacing services during the six months ended June 30, 2024[140] - Contract engineering revenue decreased by approximately 0.2 million SGD, with power cable installation project revenue increasing by approximately 3.9 million SGD, while telecommunications cable installation project revenue decreased by approximately 4.1 million SGD[145] Expenses - Employee benefits expenses totaled 12,874 thousand SGD for the six months ended June 30, 2024, a decrease of 4.41% from 13,468 thousand SGD in the same period of 2023[36] - The total cost of sales for the six months ending June 30, 2024, was 2,556,000 SGD, an increase from 2,451,000 SGD in the same period of 2023[48] - Administrative expenses for the same period were 313,000 SGD, up from 281,000 SGD in 2023[48] - The group's cost of sales increased from approximately 38.9 million SGD to approximately 39.4 million SGD, representing an increase of about 1.3%[146] Investments and Impairments - The investment in SWG was assessed at a recoverable amount of approximately 1,865 thousand SGD, leading to an impairment charge of about 1,050 thousand SGD due to the recoverable amount being lower than the carrying value[58] - The group incurred capital expenditures of approximately SGD 1.6 million for the purchase of property, plant, and equipment during the six months ended June 30, 2024, compared to SGD 2.1 million for the same period in 2023[160] Governance and Compliance - The company has adopted the standard code of conduct for securities transactions as per the listing rules[174] - The company has confirmed compliance with the standard code of conduct and securities trading rules by all directors, except Mr. Huang Lei[174] - The report indicates no known violations of the standard code of conduct during the six months ending June 30, 2024[174] - The company will continue to remind directors of the procedures and requirements for trading the company's securities[174] Future Outlook - The company plans to focus on market expansion and new product development to drive future growth[11] - The group anticipates ongoing challenges in the business environment due to high global interest rates and geopolitical uncertainties[140] - The group will adopt a prudent approach to business operations in light of these challenges[140] - The group has not incurred any retirement benefits for directors related to management services during the six months ended June 30, 2024[133]

Financial Performance - Revenue for the six months ended June 30, 2024, was 45,432 thousand New Taiwan dollars, a decrease of 1.45% compared to 46,101 thousand New Taiwan dollars for the same period in 2023[1] - Gross profit for the same period was 6,070 thousand New Taiwan dollars, down 15.5% from 7,185 thousand New Taiwan dollars year-over-year[1] - Operating profit decreased to 2,206 thousand New Taiwan dollars, a decline of 20.7% compared to 2,779 thousand New Taiwan dollars in the previous year[1] - The company reported a net profit of 217 thousand New Taiwan dollars for the six months ended June 30, 2024, down 78.6% from 1,016 thousand New Taiwan dollars in the same period last year[2] - Basic earnings per share for the period were 0.0002 New Taiwan dollars, compared to 0.04 New Taiwan dollars in the previous year[2] - The company reported a net gain from the sale of properties, plants, and equipment of 67 thousand New Taiwan dollars in 2024, down from 79 thousand New Taiwan dollars in 2023, a decline of 15.19%[13] - The company’s net profit attributable to equity holders for the six months ended June 30, 2024, is 2,000 thousand New Taiwan dollars, compared to 448 thousand New Taiwan dollars for the same period in 2023[20] - The group recorded a net profit of approximately 0.2 million SGD for the six months ending June 30, 2024, down from about 1.0 million SGD for the six months ended June 30, 2023, representing a decrease of approximately 0.8 million SGD[61] Assets and Liabilities - Total assets as of June 30, 2024, were 76,948 thousand New Taiwan dollars, a decrease from 80,529 thousand New Taiwan dollars as of December 31, 2023[3] - The company's total liabilities decreased to 41,925 thousand New Taiwan dollars from 47,291 thousand New Taiwan dollars, reflecting a reduction of 11.2%[3] - Cash and cash equivalents stood at 18,447 thousand New Taiwan dollars, slightly down from 18,967 thousand New Taiwan dollars at the end of 2023[3] - The total trade receivables as of June 30, 2024, amount to 11,247 thousand New Taiwan dollars, an increase from 7,988 thousand New Taiwan dollars as of December 31, 2023[26] - The company’s trade receivables aging analysis shows that 8,585 thousand New Taiwan dollars are less than 30 days overdue as of June 30, 2024, compared to 6,398 thousand New Taiwan dollars as of December 31, 2023[27] - The company’s total borrowings, including bank and non-bank loans, were reported at 26,815,000 New Taiwan Dollars as of June 30, 2024[31] - The debt-to-equity ratio improved to approximately 52.3% as of June 30, 2024, down from 57.2% as of December 31, 2023, due to a reduction in borrowings[66] Revenue Sources and Customer Information - The group reported revenue of 16,678 thousand SGD for Customer 1 in the six months ended June 30, 2024, compared to 10,923 thousand SGD for the same period in 2023, representing a growth of approximately 52%[10] - Customer 2 generated revenue of 8,915 thousand SGD in the six months ended June 30, 2024, while Customer 3 generated 6,734 thousand SGD, both of which were not applicable in the previous year[10] - The group operates primarily in Singapore, focusing on civil engineering projects, with all assets and liabilities located in Singapore[9] - The group’s revenue primarily comes from contract works related to electrical and telecommunications cabling, road milling and resurfacing services, and sales of goods and scrap materials[44] Cost and Expenses - Selling costs increased from approximately 38.9 million SGD to about 39.4 million SGD, reflecting a rise of about 1.3%[52] - Administrative expenses decreased from approximately 4.9 million SGD to about 4.3 million SGD, a reduction of about 12.2%[55] - Employee costs for the six months ended June 30, 2024, totaled approximately 12.9 million SGD, compared to 13.5 million SGD for the same period in 2023[74] Financial Reporting and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards, ensuring consistency with the previous year's annual consolidated financial statements[6] - The group has not adopted any new International Financial Reporting Standards that have been issued but are not yet effective, indicating a stable financial reporting environment[8] - The audit committee reviewed the group's unaudited interim results for the six months ended June 30, 2024, and had no objections[81] - The board of directors includes three executive directors and three independent non-executive directors, indicating a balanced governance structure[83] Market Conditions and Future Outlook - The construction industry in Singapore grew by 3.8% year-on-year in Q2 2024, following a growth rate of 4.1% in the previous quarter, driven by government support and emphasis on infrastructure development[43] - The group plans to adopt a cautious approach to business operations due to ongoing challenges in the post-COVID-19 environment, including high global interest rates and geopolitical tensions[45] - The group anticipates that rising material and energy prices will increase overall construction costs for ongoing projects[45] - The group plans to closely monitor global economic trends and market conditions to enhance operational efficiency[46] - The group aims to prioritize cash conservation and implement cost control measures[46] - The group will actively participate in bidding for new projects to solidify its market position[46] - The group has identified opportunities for business expansion and will proceed with caution[46]