Financial Performance - Revenue for the six months ended June 30, 2022, was SGD 11,853,616, representing a 42.5% increase from SGD 8,306,509 in the same period of 2021[4] - Gross profit for the six months ended June 30, 2022, was SGD 1,946,378, up 24.3% from SGD 1,565,641 in the previous year[4] - The net loss for the six months ended June 30, 2022, was SGD 321,226, compared to a profit of SGD 16,481 in the same period of 2021[4] - Total comprehensive income for the six months ended June 30, 2022, was SGD 497,435, compared to SGD 467,651 in the same period of 2021[4] - The company reported a net profit before tax of SGD 472,227 for the six months ended June 30, 2022, down from SGD 601,271 in 2021[25] - For the six months ended June 30, 2022, the company recorded a profit of SGD 508,927, up from SGD 490,971 in the same period of 2021, indicating a year-on-year increase[43] - The company reported a pre-tax loss of SGD (538,965) for the three months ended June 30, 2022, compared to a profit of SGD 29,381 in the same period of 2021[41] Revenue Breakdown - The signage business reported a revenue of SGD 3,224,411 for the six months ended June 30, 2022, down 22.6% from SGD 4,165,859 in 2021[25] - The renovation and refurbishment services segment saw a significant increase in revenue to SGD 8,629,205, up 108.8% from SGD 4,140,650 in the previous year[25] - Revenue from the signage and related products in the public and private sectors decreased to approximately SGD 3,224,000, down SGD 942,000 from 2021[70] Assets and Liabilities - Current assets as of June 30, 2022, totaled SGD 16,389,161, an increase from SGD 13,074,231 as of December 31, 2021[6] - Total liabilities as of June 30, 2022, were SGD 2,097,956, down from SGD 2,286,255 as of December 31, 2021[9] - The company's equity as of June 30, 2022, was SGD 15,190,294, an increase from SGD 12,869,685 as of December 31, 2021[9] - The company's total trade receivables as of June 30, 2022, amounted to SGD 1,672,307, an increase from SGD 1,519,460 as of December 31, 2021[48] - Trade payables increased significantly to SGD 1,980,904 as of June 30, 2022, from SGD 905,156 as of December 31, 2021[54] Cash Flow - The company’s cash and cash equivalents as of June 30, 2022, were SGD 3,119,544, down from SGD 3,616,810 as of December 31, 2021[6] - Net cash used in operating activities for the six months ended June 30, 2022, was SGD (1,361,655), an improvement from SGD (2,716,679) in 2021, indicating a reduction in cash outflow[14] - The total cash and cash equivalents decreased by SGD 573,020 to SGD 3,119,544 as of June 30, 2022, compared to SGD 2,698,344 in 2021[14] - The company experienced a net cash inflow from financing activities of SGD 811,335, a decrease from SGD 2,150,024 in the previous year, suggesting reduced reliance on external financing[14] Expenses - Sales and administrative expenses increased by 32.9% to approximately SGD 1,880,000, primarily due to share-based payment expenses[63] - Total employee costs for the six months ended June 30, 2022, were approximately SGD 2,228,000, an increase from SGD 1,438,000 in the same period of 2021[79] - Financing costs for the six months ended June 30, 2022, increased to SGD 19,819 from SGD 15,279 in 2021, indicating higher interest expenses[36] Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the previous year[47] - The total number of issued and paid-up shares increased to 236,800,000 as of June 30, 2022, following the exercise of 12,800,000 share options[55] - The average number of issued ordinary shares weighted for the six months ended June 30, 2022, was 229,657,459, compared to 149,626,374 in the same period of 2021[43] - Absolute Truth Investments Limited holds 39,337,600 shares, representing 16.61% of the total issued share capital[89] - The company issued a total of 12,800,000 shares after the exercise of stock options, raising a total consideration of HKD 5,760,000[93] Governance and Compliance - The board of directors confirmed compliance with the corporate governance code during the six months ending June 30, 2022[98] - The audit committee reviewed the unaudited consolidated results for the six months ending June 30, 2022, ensuring compliance with applicable accounting standards and regulations[102] - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and internal controls[102] - No significant conflicts of interest were reported among the directors and major shareholders during the six months ending June 30, 2022[92] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[4] - The group plans to focus more resources on renovation and refurbishment services to meet capital needs for business expansion[72]

Financial Performance - Revenue for the three months ended March 31, 2022, was SGD 5,990,536, representing a 21.8% increase from SGD 4,918,573 in the same period of 2021[4] - Gross profit for the same period was SGD 1,525,621, up 45.9% from SGD 1,044,714 year-over-year[4] - The company reported a net profit of SGD 830,153 for Q1 2022, compared to SGD 474,490 in Q1 2021, marking a 74.9% increase[4] - The cost of sales increased to SGD 4,464,915, up 15.2% from SGD 3,873,859 in the previous year[4] - Revenue from renovation services significantly increased to SGD 4,303,271, up 65.3% from SGD 2,602,755 in the same period of 2021[12] - Revenue from the signage business was SGD 1,687,265, down 27.1% from SGD 2,315,818 in the previous year[12] - Profit attributable to owners of the company for the same period was SGD 830,153, compared to SGD 474,490 in 2021, indicating a significant increase[19] - The gross profit for the three months ended March 31, 2022, was approximately SGD 1,526,000, with a gross margin of about 25.5%, up from 21.2% in 2021[27] Expenses and Costs - The financing costs for the quarter were SGD 9,261, an increase from SGD 7,701 in the same quarter of 2021[16] - The income tax expense for Q1 2022 was SGD 181,039, compared to SGD 97,400 in Q1 2021, reflecting an increase of 85.7%[17] - Total sales and administrative expenses decreased by 29.0% to approximately SGD 546,000 from SGD 769,000 in 2021[28] - The company recorded a tax expense of SGD 181,039 for the period, compared to SGD 97,400 in the previous year[5] Shareholder Information - As of March 31, 2022, the company has a total of 39,337,600 shares held by Absolute Truth Investments Limited, representing approximately 17.56% of the issued share capital[34] - The company’s executive director, Chen Tianji, holds 39,337,600 shares through Absolute Truth Investments Limited, which he co-owns with Chen Guanghui[34] - The company did not recommend any interim dividend for the three months ended March 31, 2022, consistent with the previous year[21] Employee and Governance - The company employed a total of 76 employees as of March 31, 2022, compared to 71 in 2021, with total employee costs around SGD 710,000[31] - The board of directors confirmed compliance with the corporate governance code as of March 31, 2022[42] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the three months ended March 31, 2022, ensuring compliance with applicable accounting standards and GEM listing rules[44] - The board is committed to enhancing internal control systems and corporate governance practices to create shareholder value[41] Stock Options - The company has granted a total of 12,800,000 share options under its share option scheme, with an exercise price of HKD 0.45 per share, valid until April 8, 2022[39] - No share options were granted, exercised, lapsed, or cancelled during the three months ended March 31, 2022, and all 12,800,000 share options remain unexercised as of that date[39] - The company has adopted a share option scheme since September 21, 2018, to incentivize directors and employees[39] - The company granted a total of 22,400,000 stock options to employees under the stock option plan, with an exercise price of HKD 0.50 per share[45] - Following the exercise of 12,800,000 stock options on April 12, 2022, the company issued a total of 12,800,000 shares, with a total par value of HKD 400,000 and total proceeds of HKD 5,760,000[45] - The stock options are valid from April 7, 2022, to April 6, 2024, for a period of two years[45] Market Outlook - The outlook for the construction sector in Singapore remains challenging due to ongoing COVID-19 impacts, with the company planning to allocate more resources to renovation services[30]

Financial Performance - The company recorded revenue of approximately SGD 18,542,000 for the year ended December 31, 2021, representing a 190.5% increase from SGD 6,383,000 in 2020[12]. - Gross profit for the year was approximately SGD 2,317,000, with a gross margin of about 12.5%, compared to SGD 672,000 and 10.5% in 2020[16]. - The company achieved a profit of approximately SGD 246,000 for the year, a significant turnaround from a loss of SGD 3,427,000 in 2020[18]. - The company reported a pre-tax profit of approximately SGD 334,000 for the year, compared to a pre-tax loss of SGD 3,541,000 in 2020[17]. - Total revenue for the year ended December 31, 2021, was SGD 18,541,810, a significant increase from SGD 6,383,204 in 2020, representing a growth of approximately 190%[166]. - Gross profit for 2021 was SGD 2,316,884, compared to SGD 672,370 in 2020, indicating a gross margin improvement[166]. - The net profit for the year was SGD 245,758, a turnaround from a net loss of SGD 3,427,279 in the previous year[166]. - Basic and diluted earnings per share for 2021 were SGD 0.131, compared to a loss per share of SGD 2.678 in 2020[166]. Revenue Sources - Revenue from sales of signage, billboards, variable message signs, bus stops, and aluminum fences in Singapore increased to approximately SGD 7,939,000 in 2021 from SGD 6,383,000 in 2020, representing an increase of about SGD 1,556,000[21]. - Revenue from the renovation and refurbishment services for commercial and residential properties amounted to approximately SGD 10,603,000 for the year ended December 31, 2021[21]. - The group reported revenue from service contracts of approximately SGD 10,603,011 for the year ended December 31, 2021[152]. Expenses and Cost Management - Selling and administrative expenses decreased by approximately 40.6% to SGD 2,447,000, down from SGD 4,122,000 in 2020[17]. - Total employee costs, including director remuneration, were approximately SGD 2,838,000 in 2021, down from SGD 3,344,000 in 2020[30]. - Other income for 2021 was SGD 539,501, down from SGD 760,301 in 2020, showing a decline of about 29%[166]. - The company reported a financing cost of SGD 29,215, significantly lower than SGD 56,521 in 2020, indicating improved financial management[166]. - The expected credit loss provision for the year was SGD 211,739, up from SGD 63,497 in 2020, suggesting increased caution in credit risk management[166]. - The company has maintained a focus on improving operational efficiency and reducing costs, as evidenced by the significant reduction in sales and administrative expenses[166]. Cash Flow and Financial Position - The company’s cash and cash equivalents increased by approximately SGD 357,000, totaling about SGD 3,617,000 as of December 31, 2021[20]. - Cash and cash equivalents at year-end were SGD 3,616,810, up from SGD 3,260,267 in 2020, indicating a 10.9% increase[177]. - Operating cash flow before changes in working capital was SGD 713,693 in 2021, a significant recovery from a negative SGD 2,471,512 in 2020[175]. - Total assets increased to SGD 17,094,678 in 2021 from SGD 15,695,621 in 2020, representing an increase of 8.9%[168]. - Current assets rose to SGD 13,074,231 in 2021, up from SGD 11,104,318 in 2020, marking a growth of 17.8%[168]. - Net current assets improved to SGD 11,135,493 in 2021, compared to SGD 8,332,248 in 2020, reflecting a 33.6% increase[168]. - Total equity increased to SGD 12,869,685 in 2021 from SGD 10,263,621 in 2020, a rise of 25.5%[169]. Borrowings and Financial Obligations - The total borrowings amounted to SGD 2,659,000, with a debt-to-asset ratio of approximately 15.5%[20]. - As of December 31, 2021, the company's borrowings included property loans of approximately SGD 2,608,000, down from SGD 2,967,000 in 2020[93]. - Non-current liabilities decreased to SGD 2,286,255 in 2021 from SGD 2,659,930 in 2020, a reduction of 14.0%[168]. Corporate Governance - The board of directors held 7 meetings and 2 shareholder meetings during the year ended December 31, 2021, with attendance rates of 71.4% for executive directors and 100% for independent non-executive directors[46]. - The audit committee conducted 4 meetings in the year ended December 31, 2021, with full attendance from all members[53]. - The company has appointed three independent non-executive directors, constituting over one-third of the board, ensuring compliance with GEM Listing Rules[50]. - The company’s chairman and CEO roles are separated, with Mr. Chen Tianji serving as chairman responsible for overall management and strategic planning[48]. - The board is committed to corporate governance and compliance with applicable laws and regulations, ensuring the interests of the company and its shareholders are prioritized[45]. - The company has established a remuneration committee consisting of three independent non-executive directors to oversee compensation matters[55]. - The company has adopted a diversity policy for board members, considering factors such as gender, age, and professional experience[58]. Risk Management - The board is responsible for ensuring effective risk management practices to mitigate identified risks and uncertainties affecting the company's financial condition and operations[88]. - The company actively manages customer credit limits and monitors cash flow to ensure sufficient working capital and meet repayment obligations[89]. - The risk management and internal control systems were deemed sufficient and effective as of December 31, 2021, according to the Audit Committee and Board of Directors[69]. Shareholder Information - The company completed a placement of up to 96,000,000 shares at a price of HKD 0.15 per share, raising approximately HKD 14.0 million net after expenses[28]. - The company has granted a total of 12,800,000 share options under the share option scheme, with an exercise price of HKD 0.45 per share, valid from April 9, 2020, to April 8, 2022[129]. - The total number of unexercised share options as of December 31, 2021, is 12,800,000, which accounts for approximately 5.7% of the company's issued share capital[130]. - Absolute Truth Investments Limited holds 39,337,600 shares, equivalent to 17.56% of the company's issued share capital, with Chen Tianji and Chen Guanghui each owning 50% of the company[121]. Compliance and Regulatory Matters - The company has not identified any significant violations of applicable laws and regulations that would materially affect its business operations for the year ended December 31, 2021[105]. - The company is committed to environmental, social, and governance (ESG) practices and will publish an ESG report within five months after the fiscal year ended December 31, 2021[104]. - The company has not experienced any significant impact from COVID-19 related rent concessions on its financial statements[183]. Future Outlook - The company plans to diversify its business portfolio and expand its renovation and refurbishment services in response to ongoing challenges in the construction sector due to COVID-19[13]. - The company will continue to manage its expenses and seek new business opportunities to adapt to the current market environment[13]. - The company expects to continue operating as a going concern, having sufficient resources for the foreseeable future[187].

Financial Performance - The company's revenue for the three months ended September 30, 2021, was SGD 5,154,573, a significant increase from SGD 593,085 in the same period of 2020, representing a growth of 769%[4] - For the nine months ended September 30, 2021, the revenue reached SGD 13,461,082, compared to SGD 3,218,120 in the previous year, marking an increase of 318%[4] - The gross profit for the three months ended September 30, 2021, was SGD 358,076, recovering from a loss of SGD 345,334 in the same period of 2020[4] - The net profit for the three months ended September 30, 2021, was SGD 111,851, compared to a loss of SGD 1,537,927 in the same period of 2020[4] - The company reported a basic and diluted earnings per share of SGD 0.050 for the three months ended September 30, 2021, compared to a loss per share of SGD 1.202 in the same period of 2020[4] - Profit for the nine months ended September 30, 2021, was approximately SGD 603,000, a significant turnaround from a loss of SGD 2,902,000 in the same period of 2020[29] - Gross profit for the same period was approximately SGD 1,924,000, with a gross margin of about 14.3%, compared to SGD 61,000 and 1.9% in 2020[28] Revenue Breakdown - The revenue from the signage business for the three months ended September 30, 2021, was SGD 1,830,022, up from SGD 593,085 in the same period of 2020[12] - The revenue from renovation and refurbishment services for the three months ended September 30, 2021, was SGD 3,324,551, with no revenue reported in the same period of 2020[12] - Revenue from the signage and related products segment in the public and private sectors in Singapore increased to approximately SGD 5,996,000, up from SGD 3,218,000 in 2020, driven by increased construction demand during the COVID-19 pandemic[30] Government Grants and Subsidies - The company received government grants totaling SGD 238,801 for the nine months ended September 30, 2021, down from SGD 311,516 in the same period of 2020[15] - The company received government subsidies related to COVID-19 amounting to approximately SGD 239,000 during the reporting period[28] Expenses and Costs - The company’s financing costs decreased to SGD 7,163 for the three months ended September 30, 2021, from SGD 10,943 in the same period of 2020[4] - The company’s sales and administrative expenses decreased by approximately SGD 1,420,000 or 43.0% to SGD 1,881,000, primarily due to reduced employee costs and advertising expenses[29] - Total employee costs for the nine months ended September 30, 2021, were approximately SGD 2,079,000, down from SGD 2,567,000 in 2020[32] Corporate Governance - The board is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15, implementing measures to enhance internal control systems and professional development[42] - The board confirmed compliance with the corporate governance code for the nine months ending September 30, 2021[43] - A securities trading code for directors has been adopted, ensuring compliance with the trading standards outlined in GEM Listing Rules[44] - The audit committee, established on June 23, 2015, consists of three independent non-executive directors and is responsible for providing independent opinions on financial reporting and internal control effectiveness[45] - The audit committee reviewed the unaudited condensed consolidated results for the nine months ending September 30, 2021, confirming compliance with applicable accounting standards and sufficient disclosure[45] Business Strategy and Future Outlook - The company aims to diversify its business portfolio and expand revenue sources by focusing on renovation and refurbishment services in response to ongoing challenges in the construction industry[31] - The company continues to review its business strategies and seek other business opportunities to adapt to the current market environment[31] Share Options and Securities - The company adopted a share option plan on September 21, 2018, granting a total of 12,800,000 share options at an exercise price of HKD 0.45, valid from April 9, 2020, to April 8, 2022[40] - As of September 30, 2021, none of the share options had been granted, exercised, lapsed, or cancelled, with all 12,800,000 options remaining unexercised[40] - The company did not purchase, sell, or redeem any of its listed securities during the review period[41] Other Financial Information - The total comprehensive income for the three months ended September 30, 2021, was SGD 100,698, compared to a loss of SGD 1,508,929 in the same period of 2020[4] - The income tax expense for the three months ended September 30, 2021, was SGD (15,700), a significant improvement from SGD (225,400) in the same period of 2020[18] - Basic and diluted earnings per share for the nine months ended September 30, 2021, were SGD 0.345, compared to a loss of SGD (2.267) in the same period of 2020[20] - The company did not declare an interim dividend for the nine months ended September 30, 2021, consistent with the previous year[22] - The company’s total other income and losses for the nine months ended September 30, 2021, amounted to SGD 214,179, compared to a loss of SGD (399,047) in the same period of 2020[16] - The company’s weighted average number of ordinary shares increased to 174,769,231 for the nine months ended September 30, 2021, from 128,000,000 in the same period of 2020 due to a share placement[20] - The company’s foreign exchange gains for the nine months ended September 30, 2021, were SGD 260,994, compared to SGD 266,788 in the same period of 2020, indicating stability in foreign exchange operations[16] - The company’s total liabilities decreased, with contingent liabilities related to performance guarantees provided for customers amounting to SGD 0 as of September 30, 2021, down from SGD 21,200 as of December 31, 2020[26]

Financial Performance - Revenue for the six months ended June 30, 2021, was SGD 8,306,509, a significant increase of 216% compared to SGD 2,625,036 for the same period in 2020[4] - Gross profit for the six months ended June 30, 2021, was SGD 1,565,641, compared to SGD 406,582 in the same period of 2020, reflecting a gross margin improvement[4] - The company reported a profit before tax of SGD 601,271 for the six months ended June 30, 2021, compared to a loss of SGD 1,432,593 in the same period of 2020[4] - Total comprehensive income for the six months ended June 30, 2021, was SGD 467,651, a recovery from a loss of SGD 1,427,277 in the same period of 2020[4] - The company reported a basic and diluted earnings per share of SGD 0.328 for the six months ended June 30, 2021, compared to a loss per share of SGD 1.066 in the same period of 2020[4] - For the three months ended June 30, 2021, the company reported a profit attributable to owners of SGD 16,481 compared to a loss of SGD 1,340,911 in the same period of 2020[41] - For the six months ended June 30, 2021, the profit attributable to owners was SGD 490,971, a significant improvement from a loss of SGD 1,364,293 in the same period of 2020[41] Assets and Liabilities - Current assets increased to SGD 13,251,110 as of June 30, 2021, compared to SGD 11,104,318 as of December 31, 2020, indicating improved liquidity[6] - The company's total equity as of June 30, 2021, was SGD 13,118,120, up from SGD 10,263,621 as of December 31, 2020, reflecting a strong capital position[9] - The company’s cash and cash equivalents decreased to SGD 2,698,344 as of June 30, 2021, from SGD 3,260,267 as of December 31, 2020[6] - The company’s inventory decreased to SGD 237,620 as of June 30, 2021, from SGD 274,746 as of December 31, 2020, indicating better inventory management[6] - Trade receivables as of June 30, 2021, amounted to SGD 1,516,758, down from SGD 2,012,480 as of December 31, 2020[47] - The company reported total trade and other receivables of SGD 7,859,155 as of June 30, 2021, compared to SGD 7,355,589 as of December 31, 2020[47] - As of June 30, 2021, the company had trade payables of SGD 747,904, a decrease from SGD 1,396,492 as of December 31, 2020[52] - As of June 30, 2021, total borrowings amounted to SGD 2,853,000, down from SGD 3,074,000 as of December 31, 2020[65] - The company’s asset-to-liability ratio was approximately 16.3% as of June 30, 2021, compared to 19.5% at the end of 2020[65] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2021, was SGD (2,716,679), compared to SGD (308,708) in 2020, indicating a significant increase in cash outflow[14] - Cash and cash equivalents decreased by SGD 616,355 during the six months ended June 30, 2021, compared to a decrease of SGD 2,111,475 in 2020[14] - The company’s cash and cash equivalents decreased by approximately SGD 562,000, primarily due to net cash used in operating activities of SGD 2,717,000[65] Revenue Segments - The signage business generated revenue of SGD 4,165,859 for the six months ended June 30, 2021, compared to SGD 2,625,036 in 2020, reflecting a growth of approximately 59%[25] - The renovation and refurbishment services segment reported revenue of SGD 4,140,650 for the six months ended June 30, 2021, with no revenue reported in the same period of 2020[25] - Revenue from the public sector for signage and related products was approximately SGD 3,963,000, a significant increase from SGD 203,000 in 2020[67] - Revenue from renovation and refurbishment services for the six months ended June 30, 2021, was approximately SGD 4,141,000[70] Corporate Actions and Governance - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the previous year[46] - The company completed a placement of 96,000,000 new ordinary shares at SGD 0.15 per share on May 21, 2021[41] - The company has not engaged in any purchase, sale, or redemption of its listed securities during the six months ended June 30, 2021[99] - The company has not issued, exercised, or canceled any share options under its share option scheme during the six months ended June 30, 2021[97] - The board is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15, aiming to enhance internal control systems and create shareholder value[100] - The company has fully complied with the corporate governance code for the six months ending June 30, 2021[101] - The audit committee, established on June 23, 2015, consists of three independent non-executive directors and is responsible for providing independent opinions on financial reporting and internal control effectiveness[105] Future Plans - The company plans to continue expanding its market presence and investing in new product development to drive future growth[4] - The company plans to diversify its business portfolio and expand revenue sources in response to ongoing challenges in the construction industry due to COVID-19[71] - The company plans to utilize the net proceeds of HKD 14.0 million primarily for expanding and operating its renovation services business, with an expected timeline for full utilization by December 31, 2021[81] Employment and Costs - As of June 30, 2021, the company employed a total of 68 staff, down from 75 employees as of December 31, 2020[82] - Total employee costs for the six months ended June 30, 2021, were approximately SGD 1.438 million, compared to SGD 2.035 million for the same period in 2020[82]

Financial Performance - The company's revenue for the three months ended March 31, 2021, was SGD 4,918,573, a significant increase from SGD 1,831,297 in the same period of 2020, representing a growth of 168%[4] - Gross profit for the same period was SGD 1,044,714, compared to SGD 411,337 in 2020, indicating a gross margin improvement[4] - The company reported a pre-tax profit of SGD 571,890, a turnaround from a loss of SGD 43,582 in the previous year[4] - Net profit for the period was SGD 474,490, compared to a loss of SGD 23,382 in 2020, marking a substantial recovery[4] - Basic and diluted earnings per share for the period were SGD 0.371, compared to a loss per share of SGD 0.018 in 2020[4] - Profit attributable to owners of the company was approximately SGD 474,490 for the three months ended March 31, 2021, compared to a loss of SGD 23,382 in the same period of 2020[19] - The gross profit for the three months ended March 31, 2021, was approximately SGD 1,045,000, with a gross margin of about 21.2%, down from 22.5% in 2020[29] Revenue Sources - The income from the signage business was SGD 2,315,818, up from SGD 1,831,297, while renovation and refurbishment services generated SGD 2,602,755 in revenue[12] - The company aims to diversify its business portfolio and expand revenue sources by focusing more on renovation and refurbishment services[33] Expenses and Costs - The company’s financing costs decreased to SGD 7,701 from SGD 19,370, reflecting improved financial management[16] - Selling and administrative expenses decreased by SGD 312,000 or 28.9% to approximately SGD 769,000 for the three months ended March 31, 2021, compared to SGD 1,081,000 in 2020[30] - As of March 31, 2021, the total employee cost, including director remuneration, was approximately SGD 865,000, unchanged from 2020[34] - The company employed a total of 71 employees as of March 31, 2021, down from 80 in 2020[34] Taxation - The effective tax expense for the period was SGD 97,400, compared to a tax credit of SGD 20,200 in the previous year[17] - The tax expense for the three months ended March 31, 2021, was SGD 97,400, compared to a tax credit of SGD 20,200 in 2020[5] Foreign Exchange and Other Income - The company experienced a foreign exchange loss of SGD 27,237, which was an improvement from a loss of SGD 94,905 in the same period last year[4] - The company recorded other income of approximately SGD 107,000 related to COVID-19 subsidies and interest income of about SGD 68,000 from loans receivable[29] Corporate Governance and Shareholder Engagement - The board is committed to adhering to the corporate governance code and has implemented measures to enhance internal control systems[44] - The company has confirmed compliance with the corporate governance code as of March 31, 2021[45] - The report emphasizes the importance of shareholder engagement in decision-making processes[48] Strategic Initiatives - The company plans to utilize the net proceeds of approximately HKD 14,000,000 from a placement of shares to expand its renovation and refurbishment services business[32] - The company is focused on strategic growth through capital raising initiatives[48] - The company aims to enhance its market position through the proposed share placement[48] Future Outlook - Future outlook indicates a slow recovery in construction activity demand in Singapore, with challenges due to competitive bidding prices and rising material costs[33] Shareholder Information - Executive director Chen Tianji holds a controlling interest in Absolute Truth Investments Limited, owning 39,337,600 shares, which represents 30.73% of the issued share capital[35] - Major shareholder Wang Yafei owns 9,600,000 shares, accounting for 7.50% of the issued share capital[37] - The company has granted a total of 12,800,000 share options under its share option scheme, with an exercise price of HKD 0.45 per share, valid until April 8, 2022[42] - No share options were granted, exercised, lapsed, or cancelled during the three months ended March 31, 2021[42] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2021[43] Placement and Announcements - The company has obtained shareholder approval to issue up to 96,000,000 placement shares as of May 4, 2021[48] - The placement agreement with the placement agent is still pending completion as of the report date[48] - The report was published on May 12, 2021, and will be available for at least seven days on the GEM website and the company's website[48] - The executive directors are Mr. Chen Tianji and Ms. Kong Weishan, while the independent non-executive directors include Mr. Liu Mugeng, Mr. Xiao Laiwen, and Mr. Lu Qiaoyan[48] - The company has made several announcements on February 8, March 19, and May 4, 2021, regarding the placement[48] - The company is committed to transparency and will provide updates on the placement process[48] - The special resolution for the placement was passed at the extraordinary general meeting[48]

Financial Performance - The company reported a revenue decrease of 24.9% from approximately SGD 8,501,000 in 2019 to about SGD 6,383,000 in 2020[11]. - The annual gross profit was approximately SGD 672,000, down from SGD 1,987,000 in 2019, resulting in a gross margin of about 10.5% compared to 23.4% in the previous year[16]. - The company incurred a net loss of approximately SGD 3,427,000 in 2020, compared to a loss of SGD 1,587,000 in 2019[11]. - Total revenue for the year 2020 was SGD 6,383,204, a decrease of 25.0% from SGD 8,500,700 in 2019[159]. - Gross profit for 2020 was SGD 672,370, down 66.1% from SGD 1,987,398 in 2019[159]. - The company reported a net loss of SGD 3,427,279 for 2020, compared to a net loss of SGD 1,586,829 in 2019, representing an increase in loss of 116.5%[159]. - Total assets decreased to SGD 15,695,621 in 2020 from SGD 18,386,619 in 2019, a decline of 14.6%[161]. - Current assets decreased to SGD 11,104,318 in 2020 from SGD 13,313,904 in 2019, a reduction of 16.5%[161]. - The company's total liabilities increased to SGD 5,432,000 in 2020 from SGD 5,267,067 in 2019, an increase of 3.1%[161]. - The net asset value decreased to SGD 10,263,621 in 2020 from SGD 13,119,552 in 2019, a decline of 21.7%[161]. - The company recognized other income of SGD 760,301 in 2020, significantly higher than SGD 188,633 in 2019, an increase of 302.4%[159]. - The financing costs rose to SGD 56,521 in 2020 from SGD 24,436 in 2019, an increase of 131.9%[159]. - The company reported a basic and diluted loss per share of SGD 2.678 for 2020, compared to SGD 1.240 in 2019, an increase of 115.0%[159]. - Total equity decreased from SGD 13,119,552 in 2019 to SGD 10,263,621 in 2020, representing a decline of approximately 21.6%[41]. - Operating cash flow used in 2020 was SGD (2,424,472), a significant increase from SGD (833,583) in 2019, reflecting a worsening cash flow situation[44]. - The company’s cash and cash equivalents decreased from SGD 7,629,334 at the beginning of 2020 to SGD 3,260,267 by year-end, a reduction of approximately 57.2%[45]. - The company incurred a pre-tax loss of SGD (3,540,990) in 2020, compared to SGD (1,627,175) in 2019, marking an increase in pre-tax losses of approximately 117.5%[43]. Expenses and Cost Management - Selling and administrative expenses increased to approximately SGD 4,122,000 in 2020 from SGD 3,161,000 in 2019, primarily due to higher advertising and share-based payment expenses[17]. - The total employee cost, including directors' remuneration, was approximately SGD 3,344,000 for the year ended December 31, 2020, compared to SGD 3,142,000 in 2019[29]. - The company will continue to manage its expenses and review its business strategies to seek new opportunities in the current market environment[12]. Market Outlook and Business Strategy - The company anticipates a decline in revenue and gross profit in the local construction market due to ongoing COVID-19 impacts and increased competition[12]. - The company has initiated subcontracting services for commercial and residential property development and renovation projects in Hong Kong, expected to generate revenue in 2021[12]. - The company plans to diversify its existing business portfolio to expand revenue sources amid challenging market conditions[12]. Governance and Compliance - The company held 5 board meetings and 2 shareholder meetings during the year ended December 31, 2020, with all directors confirming their compliance with trading rules[45]. - The audit committee, established on June 23, 2015, consists of three independent non-executive directors, with the chairman possessing appropriate professional qualifications[51]. - The board believes that good corporate governance is essential for managing the group's business and affairs, and has complied with the corporate governance code for the year ended December 31, 2020[42]. - The company has appointed three independent non-executive directors, representing over one-third of the board, ensuring compliance with GEM listing rules[49]. - All directors participated in continuous professional development to enhance their knowledge and skills relevant to their roles as directors of a listed company[50]. - The company’s management regularly reviews its corporate governance practices to align with the GEM listing rules and corporate governance code[42]. - The board is responsible for overseeing the company and has authorized executive directors and management to handle daily operations[44]. - The company has established a code of conduct for directors' securities trading, ensuring compliance with GEM listing rules[43]. - The chairman and CEO roles are clearly separated, with the chairman responsible for overall management and strategic planning[47]. - The company’s independent non-executive directors provide strategic advice to ensure compliance with financial and regulatory requirements[49]. Risk Management - The company has established a risk management and internal control system to safeguard shareholder investments and group assets[66]. - The company’s board is responsible for evaluating and determining the nature and extent of risks acceptable in achieving strategic objectives[66]. - The group has engaged an independent consultant to perform internal audit functions and assess the risk management and internal control systems, reporting directly to the audit committee[68]. - As of December 31, 2020, the group’s risk management and internal control systems were deemed sufficient and effective by the audit committee and board[68]. - The board acknowledges that the established risk management and internal control systems provide reasonable, but not absolute, assurance against foreseeable adverse events[69]. Shareholder Information - As of December 31, 2020, the company’s executive director Chen Tianji holds 39,337,600 shares, representing approximately 30.73% of the issued share capital[116]. - Major shareholder Absolute Truth Investments Limited, controlled by Chen Tianji and Chen Guanghui, also holds 39,337,600 shares, equating to 30.73% of the issued share capital[120]. - Wang Yafei and Han Dongshen are significant shareholders, holding 9,600,000 shares (7.50%) and 7,040,000 shares (5.50%) respectively[120]. - The company confirmed that at least 25% of its issued share capital is held by the public as of the last practicable date before the report publication[125]. Financial Resources and Investments - The group has not early adopted any new or revised International Financial Reporting Standards (IFRS) that are not yet effective, indicating a stable accounting policy environment[174]. - The group expects that the application of all other new IFRS and amendments will not have a significant impact on the consolidated financial statements in the foreseeable future[177]. - The company has sufficient financial resources for ongoing operations based on its current financial condition and available financing[90]. - The company has no significant violations of applicable laws and regulations that would materially impact its business and operations during the year ended December 31, 2020[104]. Share Options and Equity - The company granted a total of 12,800,000 share options at an exercise price of HKD 0.45, valid from April 9, 2020, to April 8, 2022[127]. - As of December 31, 2020, no share options were exercised, expired, or canceled, leaving 12,800,000 options unexercised[127]. - The company has adopted a share option scheme aimed at incentivizing eligible participants for their contributions to the company[129]. Trade Receivables and Credit Management - As of December 31, 2020, the total trade receivables amounted to approximately SGD 2,012,480, a decrease from SGD 2,533,433 in 2019[144]. - The expected credit loss provision net amount was approximately SGD 565,231, compared to SGD 554,005 in 2019[144]. - The credit period granted to customers generally ranges from 30 to 60 days[144]. - The management regularly assesses the recoverability of trade receivables based on various factors including customer credit status and historical settlement records[144]. - The expected credit loss assessment involves significant management judgment and estimates[145].

Financial Performance - For the three months ended September 30, 2020, the company reported revenue of SGD 593,085, a decrease of 72% compared to SGD 2,132,831 in the same period of 2019[4] - The cost of sales for the three months ended September 30, 2020, was SGD (938,419), resulting in a gross loss of SGD (345,334) compared to a gross profit of SGD 292,640 in 2019[4] - The company incurred a loss before tax of SGD (1,763,327) for the three months ended September 30, 2020, compared to a loss of SGD (325,043) in the same period of 2019[4] - The total comprehensive loss attributable to owners of the company for the three months ended September 30, 2020, was SGD (1,508,929), compared to SGD (326,292) in 2019[4] - For the nine months ended September 30, 2020, the company reported total revenue of SGD 3,218,120, down 48% from SGD 6,260,839 in the same period of 2019[4] - The company reported a net loss of SGD 1,537,927 for the three months ended September 30, 2020, compared to a loss of SGD 300,711 in 2019, indicating a 411.5% increase in losses[19] - Basic and diluted loss per share for the nine months ended September 30, 2020, was SGD 0.227, compared to SGD 0.051 in 2019, reflecting a 345.1% increase in losses per share[19] - The gross profit for the same period was approximately SGD 61,000, resulting in a gross margin of about 1.9%, down from 27.1% in 2019[27] - The company incurred a loss of approximately SGD 2,902,000 for the nine months ended September 30, 2020, compared to a loss of SGD 648,000 in 2019[29] Costs and Expenses - The company’s financing costs increased to SGD (10,943) for the three months ended September 30, 2020, compared to SGD (5,781) in 2019[4] - Total financing costs for the nine months ended September 30, 2020, were SGD 47,844, up from SGD 20,407 in 2019, representing a 134.0% increase[16] - Sales and administrative expenses increased by SGD 862,000 or 35.3% to approximately SGD 3,301,000, primarily due to increased share-based payments, advertising expenses, and legal and professional fees[29] - Total employee costs, including director remuneration, were approximately SGD 2,567,000 for the nine months ended September 30, 2020, compared to SGD 2,356,000 in 2019[33] Income and Other Revenue - The company reported other income of SGD 180,548 for the three months ended September 30, 2020, compared to SGD 56,056 in the same period of 2019[4] - Interest income for the three months ended September 30, 2020, was SGD 72,628, up from SGD 47,291 in 2019, representing a 53.5% increase[14] - Government grants received for the nine months ended September 30, 2020, totaled SGD 311,516, significantly higher than SGD 20,167 in 2019, marking a 1443.5% increase[14] - The company’s total other income for the nine months ended September 30, 2020, was SGD 491,041, a significant increase from SGD 145,600 in 2019, representing a 236.5% increase[14] Shareholder Information - As of September 30, 2020, Absolute Truth Investments Limited holds 39,337,600 shares, representing 30.73% of the issued share capital[38] - Wang Yafei owns 9,600,000 shares, accounting for 7.50% of the issued share capital[38] - Han Dongshen holds 7,040,000 shares, which is 5.50% of the issued share capital[38] - The weighted average number of ordinary shares issued was 128,000,000 for both 2020 and 2019, indicating no change in share structure during this period[19] - The company has not issued, exercised, lapsed, or cancelled any share options during the nine months ended September 30, 2020, with a total of 12,800,000 options unexercised as of that date[40] Corporate Governance - The board has adhered to the corporate governance code and has implemented measures to enhance internal control systems and professional development for directors[42] - The audit committee, established on June 23, 2015, consists of three independent non-executive directors and is responsible for overseeing financial reporting and internal controls[45] Future Outlook - The company plans to diversify its business portfolio by providing subcontracting services for commercial property and residential renovation projects in Hong Kong, expecting new revenue from these initiatives in the coming year[32] - The company anticipates that the construction sector's demand will negatively impact revenue due to ongoing COVID-19 measures and increased competition in bidding prices[32] - The company will continue to manage its expenses and review its business strategies to seek new opportunities in the current market environment[32] Employment - The company employed a total of 83 employees as of September 30, 2020, a slight decrease from 85 employees in 2019[33] Litigation and Other Losses - The company incurred a significant litigation settlement of SGD 700,000 during the nine months ended September 30, 2020[15] - Other income and losses included a settlement amount of SGD 700,000 related to litigation, offset by foreign exchange gains of approximately SGD 267,000[28] Market Conditions - The company operates primarily in Singapore, with all revenue sourced from external customers and all non-current assets located in Singapore[12] - The company’s revenue from public sector clients for the three months ended September 30, 2020, was SGD 430,890, while revenue from private sector clients was SGD 162,195[10] Miscellaneous - No significant events occurred after September 30, 2020[46] - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the review period[41] - The company reported a foreign exchange loss of SGD 119,575 for the three months ended September 30, 2020, compared to a gain of SGD 136,834 in 2019[15]

Financial Performance - Revenue for the six months ended June 30, 2020, was SGD 2,625,036, a decrease of 36.4% compared to SGD 4,128,009 for the same period in 2019[5] - Gross loss for the six months ended June 30, 2020, was SGD 406,582, compared to a gross profit of SGD 1,407,124 for the same period in 2019[5] - The net loss for the six months ended June 30, 2020, was SGD 1,364,293, significantly higher than the net loss of SGD 347,569 for the same period in 2019[5] - Total revenue for the six months ended June 30, 2020, was SGD 2,625,036, a decline of 36% compared to SGD 4,128,009 in 2019[22] - Revenue from public contracts for the six months ended June 30, 2020, was SGD 2,325,626, a decrease of 36% from SGD 3,619,762 in 2019[22] - Revenue from private contracts for the same period was SGD 299,410, down 41% from SGD 508,247 in 2019[22] - The group recorded unaudited revenue of approximately SGD 2,625,000 for the six months ended June 30, 2020, a decrease of about 36.4% or SGD 1,503,000 compared to SGD 4,128,000 in 2019[47] - The gross profit for the same period was approximately SGD 407,000, with a gross margin of about 15.5%, down from 34.1% in 2019[47] - The group incurred a loss of approximately SGD 825,000 for the six months ended June 30, 2020, compared to a profit of SGD 348,000 in 2019[47] - The group reported a pre-tax loss of approximately SGD 1,433,000 for the six months ended June 30, 2020, compared to a loss of SGD 265,000 in the same period of 2019[48] Assets and Liabilities - Total assets decreased to SGD 15,107,291 as of June 30, 2020, from SGD 16,185,531 as of December 31, 2019[6] - Current liabilities decreased to SGD 1,913,026 as of June 30, 2020, from SGD 2,201,088 as of December 31, 2019[6] - The company’s total equity as of June 30, 2020, was SGD 12,232,032, down from SGD 13,119,552 as of December 31, 2019[9] - The company's trade receivables decreased to SGD 1,370,310 as of June 30, 2020, from SGD 2,533,433 as of December 31, 2019, reflecting a decline of approximately 46%[35] - The total amount of loans receivable increased to SGD 2,874,977 as of June 30, 2020, compared to SGD 1,265,361 as of December 31, 2019, representing a growth of approximately 128%[36] - The company's total trade payables decreased to SGD 944,689 as of June 30, 2020, from SGD 1,381,559 as of December 31, 2019, indicating a reduction of about 32%[40] Cash Flow - Cash and cash equivalents decreased to SGD 5,707,989 as of June 30, 2020, from SGD 7,629,334 as of December 31, 2019[6] - The net cash used in operating activities was SGD (308,708) compared to SGD (104,618) in 2019, representing an increase of 194%[13] - The net cash used in investing activities for the same period was SGD (1,522,394), up from SGD (813,285) in 2019, indicating an increase of 87%[13] - The total cash and cash equivalents decreased to SGD 5,707,989 as of June 30, 2020, down from SGD 9,949,360 at the beginning of the year, a decline of 43%[13] - Cash and cash equivalents decreased by approximately SGD 2,111,000, primarily due to cash used in operating activities and repayments of bank loans[51] Shareholder Information - As of June 30, 2020, the company’s executive director Chen Tianji holds 983,440,000 shares, representing 30.73% of the issued share capital[67] - Major shareholder Absolute Truth Investments Limited holds 983,440,000 shares, accounting for 30.73% of the issued share capital[73] - Shareholder Wang Yafei owns 240,000,000 shares, representing 7.50% of the issued share capital[73] - Shareholder Han Dongshen holds 176,000,000 shares, which is 5.50% of the issued share capital[73] - The company granted a total of 320,000,000 share options to directors and employees at an exercise price of HKD 0.018 per share, valid from April 9, 2020, to April 8, 2022[78] - No share options were exercised, lapsed, or cancelled during the six months ended June 30, 2020[78] Corporate Governance - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[34] - The board is committed to adhering to the corporate governance code as per GEM Listing Rules Appendix 15[80] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the six months ended June 30, 2020[84] - The company has maintained compliance with the corporate governance code as of June 30, 2020[81] Other Income and Expenses - Other income for the six months ended June 30, 2020, was SGD 310,493, an increase from SGD 89,544 for the same period in 2019[5] - Interest income for the six months ended June 30, 2020, was SGD 97,279, a decrease of 50% from SGD 64,780 in 2019[26] - Government grants received during the same period amounted to SGD 204,860, compared to SGD 15,160 in 2019, reflecting a significant increase[26] - The company experienced a foreign exchange loss of SGD 62,985 for the six months ended June 30, 2020, compared to a gain of SGD 8,347 for the same period in 2019[5] - The company reported a foreign exchange gain of SGD 386,363 for the six months ended June 30, 2020, compared to a loss of SGD (71,684) in 2019[27] - The income tax expense for the six months ended June 30, 2020, was SGD (68,300), compared to SGD 69,100 in 2019, indicating a shift from a tax benefit to an expense[30] - The company’s tax expense for the six months ended June 30, 2020, was a tax credit of SGD 68,300, compared to an expense of SGD 82,286 in the same period of 2019[7] Operational Outlook - The outlook indicates that the construction sector's demand will negatively impact the group's revenue, with expectations of declining income and gross profit due to COVID-19 and rising material costs[55] - The group has no significant investments or acquisitions during the review period and has no specific future plans for major investments or capital assets as of June 30, 2020[58] - The company operates primarily in the design, production, installation, and maintenance of signage and related products, focusing on customers located in Singapore[46] Employee Benefits - The company’s short-term employee benefits for the six months ended June 30, 2020, were SGD 95,410, down from SGD 148,022 in 2019, reflecting a decrease of approximately 36%[44] - Selling and administrative expenses increased by SGD 879,000 or 54.3% to approximately SGD 2,498,000, primarily due to increased share-based payments, advertising expenses, and legal and professional fees[48] Related Party Transactions - The company has not entered into any related party transactions during the review period[43]

Financial Performance - The company's revenue for the three months ended March 31, 2020, was SGD 1,831,297, a decrease of 6.9% compared to SGD 1,967,596 in the same period of 2019[4] - Gross profit for the same period was SGD 411,337, down 28% from SGD 569,708 year-over-year[4] - The company reported a pre-tax loss of SGD 43,582, significantly improved from a loss of SGD 265,965 in the previous year[4] - The net loss for the period was SGD 23,382, compared to a net loss of SGD 298,251 in the prior year, indicating a reduction in losses[4] - Other income increased to SGD 72,471 from SGD 37,331, reflecting a growth of 94.3% year-over-year[4] - Revenue from public sector clients was SGD 1,638,399, down 8.7% from SGD 1,794,492 in 2019, while private sector revenue increased to SGD 192,898 from SGD 173,104[11] - The company experienced a foreign exchange loss of SGD 94,905, contrasting with a gain of SGD 13,453 in the previous year[4] - The basic and diluted loss per share for the period was SGD 0.001, an improvement from SGD 0.009 in the same quarter of 2019[4] - The company incurred a loss of approximately SGD 632,000 for the three months ended March 31, 2020, compared to a loss of SGD 298,000 in the same period of 2019[27] - Gross profit for the period was approximately SGD 411,000, with a gross margin of about 22.5%, down from 29.0% in 2019[27] - Selling and administrative expenses increased by SGD 286,000 or 36.0% to approximately SGD 1,081,000, primarily due to increased advertising and legal costs[27] - The company recorded a tax expense of SGD 20,200 for the three months ended March 31, 2020, compared to a tax expense of SGD 32,286 in 2019[19] - Basic and diluted loss per share was SGD 0.001 for the three months ended March 31, 2020, compared to SGD 0.009 in 2019[21] Corporate Governance and Shareholder Information - The company did not recommend any interim dividend for the three months ended March 31, 2020[22] - As of March 31, 2020, the company’s executive director, Mr. Chen Tianji, holds 983,440,000 shares, representing approximately 30.73% of the issued share capital[34] - Major shareholders include Absolute Truth Investments Limited with 983,440,000 shares (30.73%), Wang Yafei with 240,000,000 shares (7.50%), and Han Dongshen with 176,000,000 shares (5.50%) as of March 31, 2020[36] - No share options were granted, exercised, lapsed, or cancelled during the three months ended March 31, 2020, and no unexercised options were outstanding as of that date[38] - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2020[39] - The board of directors confirmed compliance with the corporate governance code as of March 31, 2020[41] - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated results for the three months ended March 31, 2020[43] Market Outlook and Strategic Direction - The outlook indicates that the construction sector's demand will negatively impact revenue, with expectations of declining income and gross profit due to COVID-19 and increased competition[32] - The company will continue to manage expenses and review business strategies to adapt to the current market environment[32] Employment and Costs - The company employed a total of 80 employees as of March 31, 2020, with total employee costs of approximately SGD 865,000[33] Events After Reporting Period - No significant events occurred after March 31, 2020[44]