Financial Performance - The company reported revenue of 72.611 million SGD for the year ended December 31, 2020, a decrease of 4.8% from 76.374 million SGD in 2019[11]. - Profit before tax increased significantly to 9.133 million SGD in 2020, compared to 3.789 million SGD in 2019, representing a growth of 141.5%[11]. - Total revenue for the year ended December 31, 2020, was approximately SGD 72.6 million, a decrease of about 4.9% compared to SGD 76.4 million for the year ended December 31, 2019[19]. - Cost of sales for the year ended December 31, 2020, was approximately SGD 50.5 million, a decrease of about 19.1% from SGD 62.4 million for the year ended December 31, 2019[20]. - Gross profit increased from approximately SGD 14.0 million for the year ended December 31, 2019, to approximately SGD 22.2 million for the year ended December 31, 2020, with a gross margin increase from 18.3% to 30.5%[22]. - Net profit for the year ended December 31, 2020, was approximately SGD 8.8 million, an increase of about 230.9% compared to SGD 2.7 million for the year ended December 31, 2019[26]. Assets and Liabilities - The total assets of the company rose to 50.159 million SGD in 2020, up from 36.305 million SGD in 2019, marking an increase of 38.2%[11]. - Current assets as of December 31, 2020, were approximately SGD 45.8 million, including cash and cash equivalents of about SGD 20.1 million[27]. - As of December 31, 2020, the company's outstanding bank borrowings amounted to approximately SGD 6.168 million[76]. Market Position and Strategy - The company aims to enhance its market position in the environmental services industry and establish itself as a regional integrated service provider[14]. - The company is focused on maintaining its market leadership in Singapore's environmental services sector despite challenges posed by COVID-19[10]. - The company aims to expand its market presence, leveraging its established relationships with clients, suppliers, and regulatory bodies[38]. - The company is exploring opportunities for market expansion into regions such as Myanmar, China, and Indonesia[46]. Operational Management - The company has implemented an ISO 9001:2015 certified quality management system for its cleaning and housekeeping services[13]. - The executive team has nearly 40 years of experience in the cleaning industry, contributing to operational management and strategic oversight[39]. - The executive team is focused on enhancing financial management and compliance to improve profitability and operational efficiency[41]. - The company has established a risk management system to address various operational and market risks, including interest rate, credit, and liquidity risks[64]. Corporate Governance - The board of directors has been actively involved in the company's governance and has adhered to the corporate governance code since the listing date until December 31, 2020[158]. - The company has complied with the listing rules regarding the appointment of at least three independent non-executive directors, ensuring a balanced board composition[165]. - The independent non-executive directors confirmed their independence, ensuring governance integrity within the board[101]. - The company emphasizes the importance of good corporate governance to enhance management and protect shareholders' interests[151]. Shareholder Relations - The company reported a final dividend of SGD 0.0015 per share for the year ended December 31, 2020, subject to shareholder approval at the annual general meeting[67]. - The company has established a dividend policy to ensure shareholders can share in profits while retaining liquidity for future growth opportunities[68]. - The company has maintained sufficient communication channels with shareholders, reviewing the implementation and effectiveness of its communication policy[200]. Risk Management - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks associated with its operations[194]. - The internal audit function is designated to the finance department, which assists the board in evaluating the effectiveness of the internal control and risk management systems annually[194]. - The company has implemented an insider information policy to ensure timely and effective public disclosure of material information[197]. Employee Management - The group employed 2,331 full-time employees and 222 part-time employees as of December 31, 2020, compared to 2,536 full-time and 301 part-time employees as of December 31, 2019, indicating a decrease in full-time employees by 8.1% and part-time employees by 26.2%[93]. - The group has established an employee stock option plan to incentivize and retain key personnel, approved on June 8, 2020[112]. - The group regularly reviews its employee compensation policies based on industry practices and financial performance, ensuring competitive remuneration[94]. Audit and Compliance - The audit committee has reviewed the accounting principles and practices adopted by the group for the year ended December 31, 2020[150]. - The company has appointed Guo Wei Accounting Firm Limited as the auditor for the year ended December 31, 2020, and the financial statements have been audited in accordance with international financial reporting standards[153]. - The audit committee is responsible for reviewing and supervising the financial reporting process and internal control systems of the group[181].

Financial Performance - The audited revenue for the year ended December 31, 2021, was approximately SGD 71.6 million, a decrease of about SGD 1.0 million or 1.4% compared to SGD 72.6 million for the year ended December 31, 2020[3]. - The audited profit after tax for the year ended December 31, 2021, was approximately SGD 5.1 million, a decrease of about SGD 3.7 million or 41.9% compared to SGD 8.8 million for the year ended December 31, 2020[3]. - Basic and diluted earnings per share for the year ended December 31, 2021, were SGD 0.0026, compared to SGD 0.005 for the year ended December 31, 2020[3]. - Total comprehensive income for the year ended December 31, 2021, was SGD 5.1 million, compared to SGD 8.8 million for the year ended December 31, 2020[6]. - The company's operating profit for the year ended December 31, 2021, was SGD 6.1 million, down from SGD 9.6 million for the year ended December 31, 2020[6]. - The net profit attributable to the company's owners for 2021 was 5,145 thousand SGD, a decrease of 41.5% compared to 8,798 thousand SGD in 2020[47]. - Basic and diluted earnings per share for 2021 were 0.26 SGD, down from 0.50 SGD in 2020, indicating a decline of 48%[47]. - The net profit for the year ended December 31, 2021, was approximately SGD 5.1 million, a decrease of about 41.9% compared to SGD 8.8 million for the year ended December 31, 2020[81]. Dividends - The board proposed a final dividend of SGD 0.00075 per share for the year ended December 31, 2021[4]. - The company declared a final dividend of 0.00075 SGD per ordinary share for the year ended December 31, 2021, compared to 0.0015 SGD in 2020, a reduction of 50%[52]. Assets and Liabilities - Total assets as of December 31, 2021, were SGD 56.5 million, an increase from SGD 50.2 million as of December 31, 2020[12]. - Total equity attributable to owners of the company as of December 31, 2021, was SGD 37.7 million, compared to SGD 32.6 million as of December 31, 2020[12]. - The company’s cash and cash equivalents as of December 31, 2021, were SGD 31.0 million, an increase from SGD 20.1 million as of December 31, 2020[12]. - The company’s total liabilities as of December 31, 2021, were SGD 18.8 million, compared to SGD 17.6 million as of December 31, 2020[14]. - As of December 31, 2021, the group's current assets were approximately SGD 51.6 million, with cash and cash equivalents of about SGD 31.0 million[83]. Revenue and Expenses - The group's revenue for 2021 was 71,605 thousand SGD, a decrease of 1.4% from 72,611 thousand SGD in 2020[26]. - Revenue from Singapore was 70,347 thousand SGD in 2021, down from 71,144 thousand SGD in 2020, representing a decline of 1.1%[29]. - Total expenses for 2021 were 65,669 thousand SGD, an increase from 62,946 thousand SGD in 2020, representing a rise of 4.3%[49]. - The cost of sales for the year ended December 31, 2021, was approximately SGD 57.2 million, an increase of about 13.3% from approximately SGD 50.5 million for the year ended December 31, 2020[76]. - Gross profit decreased from approximately SGD 22.2 million for the year ended December 31, 2020, to approximately SGD 14.5 million for the year ended December 31, 2021, with a gross margin decline from 30.5% to 20.2%[77]. Employee and Administrative Expenses - Employee benefits expenses increased to 47,541 thousand SGD in 2021, up from 41,897 thousand SGD in 2020, reflecting a rise of 13.5%[40]. - The administrative and listing expenses decreased from approximately SGD 12.5 million for the year ended December 31, 2020, to approximately SGD 8.5 million for the year ended December 31, 2021[78]. - The company maintained approximately 2,475 employees as of December 31, 2021, a decrease from 2,553 employees in the previous year[95]. Credit and Receivables - Trade receivables decreased from 13,292,000 SGD in 2020 to 11,095,000 SGD in 2021, a decline of approximately 16.6%[53]. - Expected credit loss provision reduced significantly from 445,000 SGD in 2020 to 170,000 SGD in 2021, representing a decrease of about 61.8%[54]. - Total trade and other receivables decreased from 23,151,000 SGD in 2020 to 20,611,000 SGD in 2021, a reduction of approximately 11.0%[53]. - The aging analysis of trade receivables showed that amounts overdue by more than 120 days decreased from 1,880,000 SGD in 2020 to 556,000 SGD in 2021, a decline of about 70.4%[54]. - The group confirmed expected credit loss provision of 170,000 SGD for the year ended December 31, 2021, compared to 445,000 SGD in the previous year, indicating improved credit quality[54]. Government Support and Grants - Deferred government grant income was recorded as zero in 2021, down from 1,361,000 SGD in 2020, indicating a significant change in government support[60]. - The group received government subsidies related to the job support scheme, which were recognized in the financial statements for the year ended December 31, 2021[57]. - The group received a total of approximately SGD 2.1 million in one-time government subsidies for the year ended December 31, 2021, down from SGD 9.8 million for the year ended December 31, 2020[77]. Corporate Governance and Compliance - The audit committee confirmed compliance with applicable accounting principles and standards for the financial year ending December 31, 2021[100]. - The company has adopted a corporate governance code to ensure transparency and accountability to shareholders[98]. - The company has not engaged in the purchase, sale, or redemption of its listed securities during the financial year ending December 31, 2021[104]. - The company has maintained the required public float as per listing rules as of the announcement date[105]. Future Outlook - The company expects that the application of new and revised International Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[22]. - The group has not applied certain new and revised International Financial Reporting Standards that have been issued but are not yet effective, which may affect future financial reporting[21]. - The group aims to continue establishing and enhancing its market position in the environmental services industry in 2022[73].

Financial Performance - Total revenue for the six months ended June 30, 2021, was approximately SGD 35.5 million, a decrease of about 1.5% compared to SGD 36.0 million for the same period in 2020[11]. - Cost of sales for the same period was approximately SGD 26.7 million, an increase of about 9.4% from SGD 24.4 million in 2020[12]. - Gross profit decreased from approximately SGD 11.6 million in 2020 to about SGD 8.8 million in 2021, with a gross margin decline from 32.3% to 24.8%[14]. - Net profit for the six months ended June 30, 2021, was approximately SGD 4.3 million, a decrease of about 43.5% from SGD 7.6 million in 2020[17]. - Operating profit decreased to 5,073 thousand SGD, a decline of 39.5% compared to 8,405 thousand SGD in the previous year[50]. - The company reported a basic and diluted earnings per share of 0.22 SGD, down from 0.51 SGD in the previous year, a decrease of 56.9%[50]. - The company reported a net cash increase of 8,756 thousand SGD for the six months ended June 30, 2021, compared to a decrease of 5,251 thousand SGD in the previous year[59]. - The total comprehensive income for the six months ended June 30, 2021, was 4,325 thousand SGD, compared to 4,318 thousand SGD for the same period in 2020, reflecting a slight increase[57]. Assets and Liabilities - Current assets were approximately SGD 51.0 million, including cash and bank balances of about SGD 28.8 million[18]. - Total assets as of June 30, 2021, amounted to 56,395 thousand SGD, an increase of 9.5% from 51,514 thousand SGD at the end of 2020[52]. - Total equity increased to 38,192 thousand SGD, up from 33,874 thousand SGD at the end of 2020, reflecting a growth of 12.5%[52]. - Total borrowings rose to 8,376 thousand SGD as of June 30, 2021, compared to 6,168 thousand SGD as of December 31, 2020, marking an increase of about 35.9%[97]. - The company reported a decrease in trade and other receivables to 22,165 thousand SGD as of June 30, 2021, down from 24,702 thousand SGD as of December 31, 2020, a decline of approximately 10.3%[87]. - Cash and cash equivalents increased to 28,846 thousand SGD as of June 30, 2021, compared to 20,091 thousand SGD as of December 31, 2020, representing a growth of about 43.5%[94]. Employee and Operational Metrics - The group employed approximately 2,534 employees as of June 30, 2021, a decrease from 2,621 employees in the previous year[30]. - Employee benefits expenses increased to 21,317 thousand SGD for the six months ended June 30, 2021, compared to 19,569 thousand SGD for the same period in 2020, reflecting an increase of approximately 8.9%[6]. - The group has not experienced any significant labor disputes during the reporting period[31]. - The group has established a progressive salary scheme for employees in accordance with local regulations[30]. Government Support and Subsidies - The group confirmed one-time government subsidies totaling approximately SGD 1.6 million for the six months ended June 30, 2021, down from SGD 6.0 million in the same period of 2020[14]. Future Plans and Utilization of Proceeds - The group aims to enhance its market position in the environmental services industry and maintain high-quality cleaning services[10]. - The board will continue to monitor the utilization of proceeds and report any significant changes to shareholders and potential investors[28]. - The group has utilized a total of 11,825 thousand SGD from the proceeds, with 7,791 thousand SGD already used and 4,034 thousand SGD remaining[28]. - Acquisition of Garden Scene Company accounted for 15.0% of the total proceeds, amounting to 1,774 thousand SGD, fully utilized by December 31, 2023[28]. - Procurement of waste treatment equipment represents 21.3% of the total proceeds, with 2,520 thousand SGD allocated, of which 2,370 thousand SGD remains to be utilized by December 31, 2023[28]. - Employment of waste treatment personnel constitutes 20.7% of the total proceeds, totaling 2,446 thousand SGD, with 2,272 thousand SGD yet to be utilized by December 31, 2023[28]. Compliance and Governance - The audit committee has reviewed the unaudited interim results and confirmed compliance with applicable accounting principles and standards[36]. - The company is required to maintain certain financial ratios as part of its loan agreements with banks[104]. - The company has provided corporate guarantees from Hygieia Group Limited for its bank financing arrangements[106]. Market and Trading Status - The company’s shares have been suspended from trading since April 1, 2021, pending the announcement of the audited annual results for 2020[47]. - The company is registered under the highest financial level FM02 in Singapore's contractor registration system[121].

Financial Performance - Total revenue for the six months ended June 30, 2020, was approximately SGD 36.0 million, a decrease of about 4.1% compared to SGD 37.6 million in the same period of 2019[15]. - For the six months ended June 30, 2020, the total revenue was 36,046 thousand SGD, a decrease of 4.1% from 37,600 thousand SGD for the same period in 2019[81]. - Revenue from cleaning services was 36,038 thousand SGD, down from 37,585 thousand SGD, indicating a decline of 4.1% year-over-year[81]. - Revenue contribution from Singapore was 35,411 thousand SGD, compared to 37,300 thousand SGD in 2019, reflecting a decrease of 5.1%[82]. - Revenue from Thailand increased to 635 thousand SGD from 300 thousand SGD, representing a growth of 111.7% year-over-year[82]. - The net profit after tax increased from approximately SGD 0.7 million for the six months ended June 30, 2019, to approximately SGD 7.6 million for the same period in 2020[21]. - The company reported a profit attributable to equity holders of SGD 7,675,000 for the six months ended June 30, 2020, compared to SGD 641,000 for the same period in 2019, representing a significant increase[95]. - Basic and diluted earnings per share for the company were 0.51 SGD, compared to 0.04 SGD in the previous year[56]. Cost Management - For the six months ended June 30, 2020, the cost of sales was approximately SGD 24.4 million, a decrease of about 21.2% compared to approximately SGD 30.1 million for the same period in 2019[17]. - Administrative expenses decreased from approximately SGD 5.0 million for the six months ended June 30, 2019, to approximately SGD 3.2 million for the same period in 2020[19]. - Employee benefits expenses for the six months ended June 30, 2020, amounted to SGD 19,569,000, down from SGD 23,323,000 in the same period of 2019, a decrease of about 16.1%[89]. - Interest expenses decreased to SGD 288,000 for the six months ended June 30, 2020, from SGD 356,000 in the same period of 2019, a reduction of approximately 19.1%[91]. Operational Highlights - As of June 30, 2020, the company had 295 ongoing service contracts, with a remaining contract value of approximately SGD 62.3 million[9]. - The company continues to provide cleaning services across various locations, including medical centers, shopping malls, and schools, despite the challenges posed by the pandemic[9]. - The company was able to continue operations during the COVID-19 lockdown by submitting a business continuity plan, which was approved by the Ministry of Trade and Industry[13]. - The company aims to establish and enhance its market position in the environmental services industry, aspiring to become a regional integrated service provider[10]. Market Position and Expansion - The company successfully listed on the main board of the Stock Exchange on July 3, 2020, marking a significant milestone for its competitive advantage and capital strength[8]. - The company is focused on expanding its operations in Singapore and potentially in Thailand[182]. - The company is exploring new strategies for market expansion and product development[180]. Financial Position - As of June 30, 2020, the current assets were approximately SGD 29.8 million, with cash and cash equivalents of approximately SGD 7.3 million[22]. - The current liabilities were approximately SGD 18.1 million, resulting in a current ratio of 1.6 as of June 30, 2020, compared to 1.3 as of December 31, 2019[22]. - The debt-to-equity ratio was 9.4% as of June 30, 2020, compared to 8.0% as of December 31, 2019[25]. - Total assets increased to 38,396 thousand New Taiwan dollars as of June 30, 2020, compared to 36,305 thousand New Taiwan dollars at the end of 2019, representing a growth of 5.7%[60]. - The company’s total equity reached 14,653 thousand New Taiwan dollars as of June 30, 2020, up from 11,530 thousand New Taiwan dollars at the end of 2019, reflecting an increase of 27.5%[60]. Shareholder Information - Major shareholder TEK Assets Management Limited holds 1,500,000,000 shares, representing 75% of the company's equity[52]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020[40]. - The company declared dividends of SGD 4,500,000 for the six months ended June 30, 2020, compared to SGD 1,500,000 in the same period of 2019, showing a 200% increase in dividend distribution[98]. Compliance and Governance - The company operates under the regulations of the Hong Kong Securities and Futures Ordinance, Chapter 571[174]. - The company is subject to the standards of conduct for securities trading as outlined in Appendix 10 of the Listing Rules[170]. - The company recognizes shareholders as stockholders of the issued shares[176].