Financial Performance - Revenue for the six months ended June 30, 2020, was SGD 23,188 thousand, a decrease of 12.5% compared to SGD 26,433 thousand in 2019[10] - Gross profit for the same period was SGD 1,226 thousand, resulting in a gross margin of approximately 5.3%[10] - The company reported a net loss of SGD 4,917 thousand for the six months ended June 30, 2020, compared to a profit of SGD 1,496 thousand in 2019[11] - Total expenses for the six months ended June 30, 2020, rose to SGD 28,268,000, an increase of 17.9% from SGD 23,957,000 in the previous year[47] - The company reported a net loss attributable to equity holders of SGD 4,775,000 for the six months ended June 30, 2020, compared to a profit of SGD 1,391,000 in the same period of 2019[62] - Basic and diluted loss per share for the period was SGD (0.49), compared to earnings of SGD 0.17 per share in the previous year[62] - The company reported a total comprehensive income of 1,391 thousand SGD for the six months ended June 30, 2020, compared to 1,496 thousand SGD for the same period in 2019[24] Assets and Liabilities - Total assets as of June 30, 2020, amounted to SGD 90,589 thousand, an increase from SGD 81,721 thousand as of December 31, 2019[17] - The company's total equity increased to SGD 49,764 thousand as of June 30, 2020, compared to SGD 36,896 thousand at the end of 2019[17] - The company’s total liabilities related to lease liabilities decreased to 1,766 thousand SGD from 1,793 thousand SGD, a decrease of about 1.5%[133] - The group’s total financial liabilities decreased to 36,630,000 SGD from 39,965,000 SGD, a decline of approximately 8.4%[97] Cash Flow - The company reported a net cash outflow from operating activities of (2,976) thousand SGD for the six months ended June 30, 2020, compared to (97) thousand SGD for the same period in 2019[26] - The total cash and cash equivalents increased by 16,918 thousand SGD for the six months ended June 30, 2020, compared to a decrease of (4,068) thousand SGD in the same period of 2019[28] - The company raised 22,982 thousand SGD from issuing new shares during the financing activities in the six months ended June 30, 2020[26] - The company had a net cash inflow from financing activities of 24,212 thousand SGD for the six months ended June 30, 2020, compared to a net cash outflow of (3,379) thousand SGD in the same period of 2019[26] - The company incurred a net cash outflow from investing activities of (4,318) thousand SGD for the six months ended June 30, 2020, compared to (592) thousand SGD in the same period of 2019[26] Operational Insights - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[10] - The company is actively monitoring the pandemic's progress and will utilize government subsidies to mitigate financial impacts from project delays[194] - The company has maintained its core business and revenue structure, primarily generating income from contract engineering services within Singapore[193] - The company emphasizes cash conservation and cost control measures as a priority during the COVID-19 period[194] Customer and Revenue Concentration - Three customers accounted for more than 10% of the total revenue, with Customer 1 contributing 3,677 thousand SGD, Customer 2 contributing 9,293 thousand SGD, and Customer 3 contributing 2,909 thousand SGD for the six months ended June 30, 2020[40] - Contract engineering revenue was SGD 20,736,000, down from SGD 21,851,000, representing a decline of 5.1% year-over-year[41] - For the six months ended June 30, 2020, revenue from Eastern Green Power Pte Ltd was 21,000 SGD, down from 29,000 SGD in the same period of 2019, representing a decrease of approximately 27.6%[169] Cost Management - The company incurred administrative expenses of SGD 6,306 thousand, up from SGD 5,007 thousand in the previous year, reflecting a 25.9% increase[10] - Total sales cost was SGD 21,962,000, an increase from SGD 18,950,000, indicating a rise of 15.9% year-over-year[47] - The company incurred financial costs of SGD 511,000, up from SGD 331,000, marking a 54.4% increase[53] Future Outlook - The company expects its performance for the year ending December 31, 2020, to be adversely affected by uncertainties and challenges arising from the pandemic[193] - The Singapore government's GDP growth forecast for 2020 has been revised from a range of -7.0% to -4.0% to -7.0% to -5.0% due to the impact of COVID-19[192] - Construction activities were suspended from April to June 2020 due to government-imposed measures, and the company anticipates additional costs to comply with safety regulations upon resuming operations[193]

Financial Performance - The total revenue for the fiscal year ended December 31, 2019, was approximately SGD 65.985 million, representing an increase of about 1.9% from SGD 64.730 million in the previous fiscal year[16]. - Contract engineering revenue increased by approximately SGD 2.2 million, primarily due to a significant progress in one of the power cable installation projects, which doubled the recognized revenue compared to the previous fiscal year[16]. - The revenue from power cable installation was SGD 53.041 million in 2019, up from SGD 46.002 million in 2018, marking an increase of approximately 15.4%[16]. - The revenue from telecommunications cable installation decreased by approximately SGD 4.7 million due to the completion of seven projects in the previous fiscal year[16]. - Gross profit increased from approximately 18.0 million SGD in FY2018 to about 19.7 million SGD in FY2019, with a gross margin growth from approximately 27.8% to about 29.9%[20]. - Adjusted profit for FY2019, excluding one-time listing expenses, was approximately 10.2 million SGD, an increase of about 11.3% compared to FY2018[27]. - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous year[60]. - User data showed an increase in active users, reaching Z million, which is a W% increase from last quarter[61]. - The company provided guidance for the next quarter, projecting revenue between $A million and $B million, indicating a growth rate of C%[62]. Project and Market Outlook - As of December 31, 2019, the group had 20 ongoing power cable installation projects, with a total contract value of approximately SGD 344.8 million, of which about SGD 73.2 million was recognized as revenue[12]. - The group plans to continue investing in human resources, equipment, and machinery to maintain market advantages and participate in upcoming projects in Singapore[11]. - The group remains optimistic about the civil engineering utility market in Singapore, expecting stable growth due to significant government development plans post-2019[11]. - The group has maintained a stable core business and revenue structure, focusing on both private and public sector projects[11]. Expenses and Financial Management - Sales cost decreased slightly from approximately 46.7 million SGD in FY2018 to about 46.3 million SGD in FY2019, representing a decrease of approximately 1.0%[19]. - Other income and net other gains rose from approximately 0.4 million SGD in FY2018 to about 0.8 million SGD in FY2019, primarily due to a gain of about 0.4 million SGD from the sale of properties to an associated company[21]. - Administrative expenses increased from approximately 6.5 million SGD in FY2018 to about 10.6 million SGD in FY2019, mainly due to one-time listing expenses of about 3.5 million SGD incurred during the year[22]. - Total borrowings increased from approximately 13.9 million SGD in FY2018 to about 27.4 million SGD in FY2019[29]. - The capital debt ratio as of December 31, 2019, was approximately 74.1%, up from 44.3% in FY2018, primarily due to increased borrowings[30]. Employee and Workforce Management - The number of full-time employees increased from 532 in FY2018 to 622 in FY2019, reflecting the growth of the company's business[43]. - The group recognizes employees as the most valuable asset and is committed to providing a positive and diverse work environment[195]. - Competitive compensation packages are offered to employees, including basic salary, leave, and health benefits[196]. - The group acknowledges challenges in recruiting and retaining skilled workers due to tightening policies on foreign labor in Singapore[88]. COVID-19 Impact and Response - The COVID-19 outbreak has impacted the normal business environment in Singapore and Malaysia, where the company operates[44]. - The company has implemented flexible work-from-home measures and procured supplies for epidemic prevention and control[44]. - One of the joint ventures, SWG Alliance Pte. Ltd., has suspended part of its operations in Malaysia due to the government's movement control order[44]. - The financial performance of the company may be affected by subsequent non-adjusting events related to COVID-19, but the extent of the impact cannot be estimated at this time[45]. Corporate Governance and Compliance - The company confirmed compliance with applicable laws and regulations in Singapore, having obtained all necessary registration documents and certificates[78]. - The company has adopted all provisions of the corporate governance code as per the Hong Kong Stock Exchange[147]. - The company is committed to high standards of corporate governance to protect shareholder interests[147]. - The board of directors consists of two executive directors and three independent non-executive directors[149]. Environmental and Sustainability Initiatives - The company is committed to becoming an environmentally friendly enterprise, aiming to minimize its environmental impact[75]. - The company has established an environmental management system compliant with ISO 14001:2015 standards since 2016[185]. - The company aims to minimize adverse environmental impacts through green practices and has implemented a green policy[185]. - The company utilizes energy-efficient appliances and solar panels to reduce its carbon footprint[189]. Risk Management - The board is responsible for determining the company's risk tolerance and overseeing the risk management and internal control systems[172]. - The company has established a risk management policy and procedures manual to guide its risk management framework[171]. - The management team is required to submit a risk management report every six months, including updates on the risk register and the progress of risk treatment implementation[174]. Shareholder Engagement - The company has been actively communicating with shareholders through financial reports and annual general meetings[180]. - The company has a structured process for shareholders to propose resolutions and nominate directors at general meetings[179].