Financial Performance - For the fiscal year ending February 28, 2025, CTR Holdings Limited reported total revenue of 206,918 thousand SGD, a 37.6% increase from 150,217 thousand SGD in the previous year[4] - Gross profit for the same period was 24,708 thousand SGD, up 60.5% from 15,413 thousand SGD year-over-year[4] - The company achieved a net profit of 7,766 thousand SGD, representing a significant increase of 189.5% compared to 2,671 thousand SGD in the prior year[4] - The company reported a basic earnings per share of 0.55 SGD for the fiscal year, compared to 0.19 SGD in the previous year, indicating a growth of 189.5%[5] - Expected confirmed revenue amounts for the year ending February 28, 2025, is 243,084 thousand SGD, compared to 128,894 thousand SGD for the year ending February 29, 2024, representing an increase of 88.5%[20] - The pre-tax profit for the year ending February 28, 2025, is 7,766 thousand SGD, significantly higher than 2,671 thousand SGD for the year ending February 29, 2024, reflecting a growth of 189.5%[27] - Net profit for the fiscal year 2024/2025 rose to approximately 7.8 million SGD, an increase of 190.8% from about 2.7 million SGD in the previous year[42] Assets and Liabilities - The total assets of CTR Holdings Limited increased to 127,254 thousand SGD from 98,834 thousand SGD, reflecting a growth of 28.7%[6] - Current assets rose to 101,692 thousand SGD, a 36.9% increase from 74,346 thousand SGD in the previous year[6] - The company's total liabilities increased to 67,053 thousand SGD from 46,488 thousand SGD, marking a rise of 44.3%[7] - The net asset value of the company improved to 60,201 thousand SGD, up 15.5% from 52,346 thousand SGD year-over-year[7] - Trade receivables increased to 26,259 thousand SGD as of February 28, 2025, from 12,109 thousand SGD as of February 29, 2024, marking a rise of 117.2%[28] - Trade payables rose to 47,249 thousand SGD as of February 28, 2025, compared to 28,924 thousand SGD as of February 29, 2024, an increase of 63.2%[30] - The company has a contingent liability of approximately 25,165 thousand SGD as of February 28, 2025, up from 17,059 thousand SGD in the previous year, indicating a rise of 47.8%[31] Revenue Sources - Revenue from structural engineering work amounted to SGD 189,124,000 for the year ending February 28, 2025, compared to SGD 126,333,000 for the previous year, indicating a growth of about 49.7%[18] - The company reported that major customers contributing over 10% of total revenue included Customer A with SGD 41,730,000 and Customer B with SGD 24,732,000 for the year ending February 28, 2025[15] - The company’s major customers for the year ending February 28, 2025, included Customer C with SGD 37,639,000 and Customer D with SGD 28,790,000, both contributing significantly to overall revenue[15] - Total revenue from customer contracts for the year ending February 28, 2025, is 1,444 thousand SGD, slightly down from 1,466 thousand SGD for the year ending February 29, 2024, indicating a decrease of 1.5%[22] Operational Insights - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[3] - CTR Holdings Limited is focusing on enhancing its operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[3] - The company operates entirely in Singapore, with all non-current assets located in the same region[16] - The company focuses on providing structural engineering and civil engineering services, with no independent financial data available for separate operating segments[14] - The company’s total revenue is generated from its core business activities, with no significant impact from newly adopted accounting standards expected in the foreseeable future[13] - The group completed 15 and 13 projects in 2025 and 2024, respectively, with a total contract value of approximately 524 million SGD, of which about 271 million SGD has been recognized as revenue[33] - The total construction demand in Singapore is projected to be between 47 billion SGD and 53 billion SGD in 2025, with an average annual demand of 39 billion SGD to 46 billion SGD from 2026 to 2029[34] Cost and Expenses - The company’s construction costs for the year ending February 28, 2025, amounted to 182,210 thousand SGD, compared to 134,804 thousand SGD for the year ending February 29, 2024, reflecting an increase of 35.2%[23] - Construction costs rose from approximately 134.8 million SGD in the fiscal year 2023/2024 to about 182.2 million SGD in the fiscal year 2024/2025, an increase of 35.2%[36] - Administrative expenses increased from approximately 13.6 million SGD to about 16.2 million SGD, a rise of 19.2% attributed to increased employee benefits[39] - The total employee cost for the fiscal year 2024/2025 is approximately 24.0 million SGD, compared to 23.7 million SGD in the previous year[54] Financial Management - The group maintained a negative debt-to-equity ratio as of February 28, 2025, due to substantial cash and cash equivalents[45] - The group maintains a prudent financial management policy and sufficient working capital to support business operations and shareholder value expansion[46] - The group has no future plans for significant investments or capital assets as of February 28, 2025[48] - The group faces minimal foreign exchange risk, with only 0.1% of cash and cash equivalents held in Hong Kong dollars for compliance expenses[49] - Capital expenditures for the fiscal year 2024/2025 are approximately 0.3 million SGD, down from 0.9 million SGD in the previous year[53] Dividends and Shareholder Information - The company did not declare or recommend any dividends for the years ending February 28, 2025, and February 29, 2024[26] - The board has decided not to recommend a final dividend for the fiscal year 2024/2025[56] - The company has maintained sufficient public float of its shares since the listing date[59] Audit and Compliance - The audit committee has reviewed the financial performance for the year ending February 28, 2025, and found no disagreements with management or auditors[64] - The preliminary announcement of the consolidated financial statements for the year ending February 28, 2025, is consistent with the group's financial reports[65] - No significant events occurred after February 28, 2025, up to the announcement date[58] Upcoming Events - The annual general meeting is scheduled for August 28, 2025, with notifications to be published on the Hong Kong Stock Exchange website and the company's website[66] - Share transfer registration will be suspended from August 25, 2025, to August 28, 2025, to ensure voting rights at the annual general meeting[67] - The annual results announcement will be published on the Hong Kong Stock Exchange website and the company's website at an appropriate time[68]

Financial Performance - For the six months ended August 31, 2024, the company reported revenue of 60,652 thousand SGD, an increase from 53,090 thousand SGD in the same period of 2023, representing a growth of approximately 14.5%[1] - The gross profit for the same period was 7,562 thousand SGD, with a pre-tax profit of 3,447 thousand SGD, leading to a net profit of 2,793 thousand SGD after tax expenses of 654 thousand SGD[1] - Total comprehensive income for the period was 2,953 thousand SGD, compared to 2,810 thousand SGD in the previous year, indicating an increase of about 5.1%[2] - For the six months ended August 31, 2024, total revenue from customer contracts was 92,208 thousand SGD, a 52% increase from 60,652 thousand SGD for the same period in 2023[14] - Structural engineering work contributed 83,578 thousand SGD to revenue, up from 54,037 thousand SGD, representing a 55% increase year-over-year[14] - The group generated 100% of its revenue from Singapore for the six months ended August 31, 2024[13] - Major customer B accounted for 24,001 thousand SGD in revenue, significantly up from 6,837 thousand SGD in the previous year[12] - Other income for the six months ended August 31, 2024, totaled 1,065 thousand SGD, compared to 549 thousand SGD in the previous year, reflecting a 94% increase[16] - The group’s net profit for the period was approximately 3.2 million SGD, compared to 2.8 million SGD for the same period in 2023[71] Assets and Liabilities - The company's total assets as of August 31, 2024, amounted to 120,292 thousand SGD, up from 98,834 thousand SGD as of February 29, 2024, reflecting a growth of approximately 21.6%[3] - Current liabilities increased to 64,993 thousand SGD from 46,328 thousand SGD, marking a rise of about 40.4%[3] - The net asset value of the company was reported at 55,299 thousand SGD, an increase from 52,506 thousand SGD, which is a growth of approximately 5.4%[4] - The company’s equity attributable to owners was reported at 55,299 thousand SGD, reflecting a solid financial position and potential for future growth[4] - The company reported contract assets of 47,428 thousand SGD as of August 31, 2024, compared to 31,586 thousand SGD as of February 29, 2024[34] - The company has a total of 29,804 thousand SGD in unbilled revenue as of August 31, 2024, with a provision for losses of 1,377 thousand SGD[35] - Trade payables as of August 31, 2024, totaled SGD 40,073,000, up from SGD 28,924,000 as of February 29, 2024[46] - Other payables and accrued expenses amounted to 12,616 thousand SGD as of August 31, 2024, compared to 10,843 thousand SGD as of February 29, 2024, representing an increase of approximately 16.3%[47] Cash Flow and Investments - The company’s cash and cash equivalents stood at 27,085 thousand SGD, compared to 26,565 thousand SGD in the previous period, showing a slight increase of about 1.9%[3] - Cash and cash equivalents increased by 1.2% to approximately 43.2 million SGD as of August 31, 2024, from about 42.7 million SGD as of February 29, 2024[71] - The company has approximately 650,000 SGD in fixed deposits pledged as bank guarantees for a structural engineering contract, which has been released after fulfilling contractual obligations[77] - As of August 31, 2024, the group has contingent liabilities amounting to 23,398,000 SGD related to performance bonds for its subsidiaries[78] Employee and Executive Compensation - The group’s employee benefits expenses, including director remuneration, amounted to 3,185 thousand SGD for the six months ended August 31, 2024[18] - The total remuneration for directors and executives for the six months ended August 31, 2024, was 767,000 SGD, compared to 366,000 SGD for the same period in 2023, representing a 109% increase[20] - The total executive director remuneration for the six months ended August 31, 2024, was 728,000 SGD, compared to 324,000 SGD in 2023, marking a 125% increase[21] - Total employee costs for the six months ended August 31, 2024, were approximately 9.6 million SGD, an increase from 9.1 million SGD for the same period last year[82] Financial Management and Governance - The group has maintained a cautious financial management policy, ensuring sufficient working capital for current operations and financial needs[74] - The company has complied with the corporate governance code, with the exception of the separation of roles between the Chairman and CEO[85] - The group has no declared dividends for the periods ending August 31, 2024, and August 31, 2023[60] - The company does not recommend the payment of an interim dividend for the six months ended August 31, 2024[84] Future Outlook and Strategic Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and service offerings[6] - The group has 31 ongoing projects with a total contract value of approximately 485 million SGD, of which about 304 million SGD has been recognized as revenue as of August 31, 2024[62] - As of August 31, 2024, the group has no significant investments or future plans for major capital assets[75] Compliance and Reporting - The company has reviewed its unaudited interim results for the six months ended August 31, 2024, with no disagreements on the accounting policies adopted[88] - The interim results announcement has been published on the Hong Kong Stock Exchange website and the company's website[89] - The interim report for the six months ended August 31, 2024, will be published to shareholders at an appropriate time[89]

Financial Performance - The group's revenue increased by approximately 60.4 million SGD or 67.4% from about 89.8 million SGD in the fiscal year 2022/23 to approximately 150.2 million SGD in the fiscal year 2023/24[12]. - Gross profit decreased by approximately 4.6 million SGD or 22.7% from about 20.0 million SGD in the fiscal year 2022/23 to approximately 15.4 million SGD in the fiscal year 2023/24, with the gross profit margin dropping from about 22.2% to approximately 10.3%[14]. - The group's annual profit decreased by approximately 4.2 million SGD or 61.1% to about 2.7 million SGD for the fiscal year 2023/24, primarily due to lower gross margins and higher administrative expenses[19]. - The group's income tax expense decreased by approximately 1.0 million SGD or 56.0% to about 0.7 million SGD for the fiscal year 2023/24[18]. - Cash and cash equivalents increased by 43.6% from approximately 29.7 million SGD to about 42.7 million SGD as of February 29, 2024, mainly due to net cash flow from operating activities[20]. - The total employee costs for the fiscal year 2023/24 amounted to approximately 23.7 million SGD, an increase from 16.8 million SGD in the previous year[32]. Cost Management - Construction costs rose by approximately 65.0 million SGD or 93.1% from about 69.8 million SGD in the fiscal year 2022/23 to approximately 134.8 million SGD in the fiscal year 2023/24, reflecting increased costs in materials, subcontracting services, and labor[13]. - Administrative expenses increased by approximately 2.2 million SGD or 18.8% from about 11.4 million SGD in the fiscal year 2022/23 to approximately 13.6 million SGD in the fiscal year 2023/24, primarily due to increased employee benefits[16]. - Other income slightly decreased by approximately 0.1 million SGD or 4.3% from about 1.5 million SGD in the fiscal year 2022/23 to approximately 1.4 million SGD in the fiscal year 2023/24, mainly due to the reduction of government subsidies as pandemic measures were phased out[15]. Market Opportunities - The group has 28 ongoing projects as of February 29, 2024, with a total contract value of approximately 357 million SGD, of which about 213 million SGD has been recognized as revenue[8]. - The group plans to capitalize on the growing demand in the Singapore market by bidding for more projects, despite challenges in cost management and maintaining profitability[9]. - The group continues to explore market opportunities to diversify revenue sources and enhance growth prospects[4]. Corporate Governance - The company is committed to good corporate governance, focusing on creating long-term sustainable growth for shareholders and providing long-term value for all stakeholders[56]. - The board of directors regularly meets to formulate overall strategies and monitor the company's business development and financial performance[58]. - The company has adopted all code provisions of the corporate governance code as set out in the listing rules[57]. - The management team includes a finance director with over 13 years of experience in auditing and financial management[54]. - The company emphasizes risk assessment and management, ensuring a better understanding of opportunities and risks[56]. Environmental, Social, and Governance (ESG) Initiatives - The company has established environmental, social, and governance policies to mitigate significant impacts on the environment and natural resources[200]. - The company reported a reduction in nitrogen oxides (NOx) emissions to 1,394.30 kg in FY2024, down from 1,613.42 kg in FY2023, representing a decrease of approximately 13.5%[182]. - The total greenhouse gas emissions amounted to 1,103.14 tons of CO2 equivalent in FY2024, compared to 971.00 tons in FY2023, marking an increase of about 13.6%[185]. - The company has set a target to reduce greenhouse gas emissions intensity by FY2026, using FY2022 as the baseline year, aiming for a sustainable operational footprint[183]. - The company has implemented various measures to manage waste, focusing on the 4R principles (Reduce, Reuse, Recycle, and Recover) to minimize waste generation[186]. Shareholder Communication - The company ensures timely and transparent communication with shareholders through various reports and meetings[94]. - Shareholders holding at least 10% of the paid-up capital have the right to request a special general meeting to address specified matters[92]. - The board will consider various factors, including overall business environment and financial condition, when deciding on dividend payments[150].

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佈的內容概不 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 就 因 本 公 佈 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。 CTR Holdings Limited （於 開曼群島註冊成立的成員有限公司） （股份代號：1416） 截至二零二四年二月二十九日止年度 全年業績公佈 CTR Holdings Limited（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本集團」）截 至 二 零 二 四 年 二 月 二 十 九 日 止 年 度 的 經 審 核 業 績， 連 同 二 零 二 三 年 同 期 的 比 較 數 字 如 下。 綜合損益及其他全面收益表 截至二零二四年二月二十九日止年度 | 截 | 至 | 截 | 至 | 二零二四年 | 二零二三年 | | | | | | | | | | | | | | | | | | --- | --- | -- ...

Financial Performance - For the six months ended August 31, 2023, the company reported revenue of SGD 60,652,000, a 53.3% increase from SGD 39,585,000 in the same period of 2022[7] - Gross profit for the same period was SGD 7,562,000, up 12.9% from SGD 6,695,000 year-over-year[7] - The company achieved a profit before tax of SGD 3,447,000, representing a 28.7% increase compared to SGD 2,677,000 in the prior year[7] - Net profit for the period was SGD 2,793,000, an increase of 25.3% from SGD 2,230,000 in the previous year[7] - Total comprehensive income for the period amounted to SGD 2,810,000, compared to SGD 2,473,000 in the same period last year, reflecting a 13.6% increase[7] - Total revenue from customer contracts for the six months ended August 31, 2023, was 60,652 thousand SGD, an increase of 53.3% compared to 39,585 thousand SGD in the same period of 2022[25] - The group's profit for the period was approximately 2,793,000 SGD, an increase from 2,230,000 SGD for the six months ended August 31, 2022, representing a growth of about 25.4%[97] Assets and Equity - The company's total assets increased to SGD 83,069,000 as of August 31, 2023, up from SGD 77,532,000 as of February 28, 2023[10] - Current assets totaled SGD 58,687,000, a slight increase from SGD 57,171,000 in the previous reporting period[10] - The company's total equity rose to SGD 52,486,000, compared to SGD 49,676,000 at the end of the previous reporting period[10] - The total contract assets as of August 31, 2023, amount to 34,223,000 SGD, up from 29,306,000 SGD as of February 28, 2023, representing an increase of 16.9%[49] - The investment properties' net book value as of August 31, 2023, is 4,400,000 SGD, slightly down from 4,466,000 SGD as of February 28, 2023, showing a decrease of 1.5%[45] Cash Flow and Expenses - The company experienced a significant decrease in operating cash flow, reporting a net cash outflow of 2,063 thousand SGD for the period, compared to an inflow of 8,406 thousand SGD in the previous year[14] - Cash and cash equivalents at the end of the period were 6,711 thousand SGD, down from 17,034 thousand SGD at the end of the same period in 2022, indicating a decrease of approximately 60.7%[14] - The company reported a net cash outflow from investing activities of 1,098 thousand SGD, compared to an outflow of 706 thousand SGD in the previous year[14] - Total employee benefits expenses, including salaries and bonuses, are 2,412 thousand SGD for the six months ended August 31, 2023, slightly down from 2,544 thousand SGD in 2022[31] - Employee costs totaled approximately 9.1 million SGD for the six months ended August 31, 2023, compared to 7.7 million SGD for the same period in 2022, marking an increase of about 18.2%[111] Revenue Recognition and Contracts - Expected revenue recognition amount within one year is 142,135 thousand SGD for 2023, a significant increase from 41,340 thousand SGD in 2022, representing a growth of 243%[27] - Major customer B contributed 6,837 thousand SGD to revenue, an increase from 5,188 thousand SGD in the previous year, while customer T generated 25,381 thousand SGD in revenue, marking a new contribution[23] - The company recognized revenue of 4,342,000 SGD from contract liabilities during the period, compared to 2,500,000 SGD recognized in the previous year[55] - The company has a total of 32 ongoing projects as of August 31, 2023, with a total contract value of approximately 328 million SGD, of which about 176 million SGD has been recognized as revenue[85] Tax and Other Income - Total tax expense for the six months ended August 31, 2023, is 654 thousand SGD, an increase of 46% from 447 thousand SGD in 2022[36] - Total other income for the six months ended August 31, 2023, is 549 thousand SGD, down 62% from 1,453 thousand SGD in 2022[29] - Interest income for the six months ended August 31, 2023, is 382 thousand SGD, significantly up from 77 thousand SGD in 2022, marking a growth of 396%[29] Shareholder Structure and Governance - As of August 31, 2023, CTR Holdings Limited has a total issued share capital of 1,050,000,000 shares, with major shareholders holding 75% of the equity[114] - Mr. Xu Xuping and Mr. Xu Tiansheng each hold 1,050,000,000 shares, representing 75% of the total issued share capital through their controlled entity, Brave Ocean Limited[114] - The company has established a consensus mechanism among its major shareholders for decision-making on significant matters[120] - The company has adhered to the corporate governance code as per the Stock Exchange Listing Rules, with the exception of the role distinction between the Chairman and CEO, which is held by the same individual, Xu Xuping[127] Operational Insights - The company is focusing on improving efficiency and productivity to manage rising construction costs due to inflation[86] - The company has not declared any dividends for the six months ended August 31, 2023, or for the previous period[83] - The company has not reported any significant new product developments or market expansions during this period[22]

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佈的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全 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。 CTR Holdings Limited （於開曼群島註冊成立的成員有限公司） （股份代號：1416） 截 至 二 零 二 三 年 八 月 三 十 一 日 止 六 個 月 中 期 業 績 公 佈 CTR Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年八月三十一日止六個月的未經審核 中期業績，連同二零二二年同期的比較數字如下： 中期簡明綜合損益及其他全面收益表 截至八月三十一日 止六個月 二零二三年 二零二二年 附註 千新元 千新元 （未經審核） （未經審核） 收益 4 60,652 39,585 建造成本 (53,09 0) (32,89 0) 毛利 7,562 6,695 ...

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佈的內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全 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。 CTR Holdings Limited （於開曼群島註冊成立的成員有限公司） （股份代號：1416） 截 至 二 零 二 三 年 二 月 二 十 八 日 止 年 度 全 年 業 績 公 佈 CTR Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈本公司及其 附屬公司（統稱「本集團」）截至二零二三年二月二十八日止年度的經審核業績， 連同二零二二年同期的比較數字如下。 綜合損益及其他全面收益表 截至二零二三年二月二十八日止年度 截至 截至 二零二三年 二零二二年 二月二十八日 二月二十八日 止年度 止年度 附註 千新元 千新元 收益 4 89,755 105,678 建造成本 (69,805) (97,102) 毛利 19,950 8,576 ...

CTR Holdings Limited (於開曼群島註冊成立的成員有限公司) (股份代號 : 1416) 中期報告 2022 IZ TZILL 00 01 00 8 0 2 公司資料 3 中期簡明綜合損益及其他全面收益表 4 中期簡明綜合財務狀況表 5 中期簡明綜合權益變動表 6 中期簡明綜合現金流量表 7 中期簡明綜合財務報表附註 27 ɐ理層討論及分析 31 其他資料 图 2020-02-20 1 UZEZZENE 2022 中期報告 | CTR Holdings Limited 公司資料 | --- | --- | |-------------------------------|-----------------------------------------------------------------| | 董事會 | 香港主要營業地點 | | 執行董事 | 香港金鐘道 號 | | 許旭平先生 （主席兼行政總裁） | 95 統一中心 17 樓 B 室 | | 許添城先生 | 開曼群島股份過戶登記總處 Conyers Trust Company (Cayman) Limited | | 獨立非執 ...

Financial Performance - For the fiscal year ending February 28, 2022, CTR Holdings Limited reported total revenue of approximately SGD 105.7 million, a significant increase of about SGD 69.9 million or 195% compared to the previous fiscal year[15]. - The revenue from structural engineering work was SGD 91.8 million, while revenue from civil engineering work was SGD 13.8 million, reflecting a strong recovery from COVID-19 related delays[15]. - The group's gross profit increased by approximately 3.0 million SGD or 53.4% to about 8.6 million SGD for the fiscal year 2021/2022, compared to approximately 5.6 million SGD for the fiscal year 2020/2021[17]. - The gross profit margin decreased from approximately 15.6% for the year ended February 28, 2021, to about 8.1% for the year ended February 28, 2022, primarily due to increased construction costs and several projects being in a loss position[17]. - Other income decreased by approximately 1.2 million SGD to about 3.3 million SGD for the fiscal year 2021/2022, mainly due to a reduction in government employment subsidies related to COVID-19[18]. - The group's loss for the fiscal year 2021/2022 was approximately 0.3 million SGD, a decrease of 3.1 million SGD compared to a loss of about 3.4 million SGD for the fiscal year 2020/2021[23]. - The group reported capital expenditures of approximately SGD 0.8 million for the fiscal year 2021/2022, an increase from SGD 0.7 million in the previous fiscal year[40]. Operational Challenges - Construction costs rose to approximately SGD 97.1 million, an increase of about SGD 66.9 million or 221% from the previous fiscal year, primarily due to rising material costs and labor shortages[16]. - The company anticipates ongoing challenges in the construction sector, including labor shortages and increased material costs, which may impact future project bidding and profitability[13]. - The ongoing impact of COVID-19 has led to extended supply chain disruptions and increased operational challenges, affecting overall business performance[7]. - The company is committed to ensuring smooth project operations and strengthening cost control measures[7]. Project and Contract Management - As of February 28, 2022, the company had 20 projects on hand, with a total contract value of approximately SGD 228 million, of which SGD 175 million has been recognized as revenue[12]. - The group’s financial performance is heavily reliant on contracts from five major clients, indicating potential risks if project volumes from these clients decrease[130]. - The group’s operations are primarily focused on structural engineering and civil construction works, with no significant changes in major activities reported for the fiscal year ending February 28, 2022[119]. Corporate Governance - The company has maintained compliance with the corporate governance code throughout the year, except for deviation A.2.1[78]. - The board of directors held regular meetings throughout the year to formulate overall strategies and monitor business development and financial performance[79]. - The board consists of two executive directors and three independent non-executive directors, ensuring adherence to relevant guidelines for financial reporting[80]. - The company is committed to high standards of corporate governance, focusing on creating long-term sustainable growth for shareholders[77]. - The company has appointed independent non-executive directors, with at least one possessing appropriate professional qualifications in accounting or related financial management expertise[85]. Risk Management - The company has implemented a structured approach to risk assessment and management, enhancing its understanding of opportunities[77]. - The board has reviewed the compliance of the corporate governance code and the effectiveness of the group’s risk management and internal control systems[80]. - The company has established measurable targets for board diversity, which are reviewed annually by the nomination committee[92]. - The audit committee was established in November 2019 and includes three independent non-executive directors, with a primary responsibility to review risk management and internal control systems[104]. - The board confirmed its responsibility to maintain effective risk management and internal control systems to protect shareholders' interests and ensure compliance with applicable regulations[108]. Employee and Workforce Management - The total employee costs for the fiscal year 2021/2022 amounted to approximately SGD 16.3 million, up from SGD 12.5 million in the previous fiscal year, reflecting a significant increase in workforce[41]. - The group had a total of 485 employees as of February 28, 2022, compared to 417 employees a year earlier, with 12% being Singapore citizens and 88% foreign workers[41]. - The company has adopted a share option plan as a reward for directors and eligible employees, reflecting a commitment to align interests with shareholders[41]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the integration of Environmental, Social, and Governance (ESG) principles into its risk management system[181]. - The group is committed to mitigating negative environmental impacts and responsibly using natural resources through the implementation of ESG policies and an ISO 14001:2015 certified environmental management system[200]. - The group has established appropriate and effective management policies and internal control systems regarding environmental, social, and governance (ESG) matters during the reporting period[198]. - The company aims to integrate ESG principles into its business strategy and management system for sustainable value creation[191]. - The board regularly assesses and identifies ESG-related risks and opportunities to enhance overall performance and stakeholder value[189]. Shareholder Communication and Dividends - The company maintains transparent communication with shareholders through semi-annual reports, annual reports, and other publications[115]. - The board has resolved not to recommend a final dividend for the fiscal year 2021/2022, consistent with the previous fiscal year[43]. - The board will consider various factors, including financial condition and future expansion plans, when deciding on dividend payments[174].

Financial Performance - The total revenue for the fiscal year ended February 28, 2021, was approximately SGD 35.8 million, a decrease of about SGD 29.8 million or 45.4% from SGD 65.6 million in the previous fiscal year[11]. - The company recorded a loss of approximately SGD 3.4 million for the fiscal year 2020/2021, a decrease of about SGD 10.8 million compared to a profit of approximately SGD 7.4 million in the previous fiscal year[18]. - Gross profit fell by approximately SGD 13.9 million or 71.3% to about SGD 5.6 million, with the gross profit margin decreasing from approximately 29.8% to about 15.6%[14]. - Other income increased by approximately SGD 3.1 million to about SGD 4.5 million, mainly due to government subsidies such as the Jobs Support Scheme[15]. - The total amount of non-hazardous waste generated decreased by approximately 94.30% due to reduced operations during the COVID-19 pandemic and government lockdown measures[199]. Project and Contract Status - The group had 12 projects on hand as of February 28, 2021, with a total contract value of approximately SGD 132.5 million, of which SGD 73.3 million has been recognized as revenue[9]. - The number of structural engineering projects decreased from 11 to 8, while civil engineering projects increased from 1 to 4 compared to the previous year[9]. - The group is actively monitoring the situation to ensure project progress and mitigate any financial impacts from ongoing challenges[6]. - The group will continue to explore business opportunities cautiously in the coming year[10]. Challenges and Risks - The construction activities in Singapore are expected to face ongoing challenges due to labor shortages and supply chain disruptions caused by COVID-19, impacting project timelines and costs[10]. - The construction costs have risen due to labor shortages and increased material costs, affecting overall profitability[6]. - The group has faced challenges in recruiting and retaining foreign workers, which could significantly impact its operations and financial performance[127]. Cash and Debt Management - As of February 28, 2021, the company had cash and cash equivalents of approximately SGD 25.9 million, with 96.8% in SGD and 3.2% in HKD[21]. - The company had a negative debt-to-equity ratio as cash and cash equivalents exceeded total debt[22]. - The net proceeds from the share offering amounted to approximately HKD 82.0 million (equivalent to about SGD 14.3 million), with planned uses including pre-operational costs and workforce enhancement[24]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules to enhance shareholder value and protect their rights[74]. - The board of directors held regular meetings throughout the year to oversee business development and financial performance, with all members attending 100% of the meetings[78]. - The company has implemented a board diversity policy to enhance performance quality, considering factors such as gender, age, and professional experience[84]. - The independent non-executive directors' appointments are set for a term of three years, subject to re-election at the annual general meeting[81]. Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report outlines the company's commitment to sustainable development and its risk management system[173]. - The company has implemented an ISO 14001:2015 certified environmental management system to systematically manage potential environmental risks and impacts[187]. - The company achieved a greenhouse gas emission density of 3.88 tons of CO2 equivalent per million SGD in total revenue for the fiscal year 2020/2021, compared to 6.97 tons in the previous year[193]. - The company has taken measures to reduce air emissions from construction sites, including using low-sulfur fuel and regular maintenance of machinery[189]. Management and Leadership - The company has a strong management team with diverse backgrounds in engineering, finance, and project management, enhancing its operational capabilities[68]. - The company aims to leverage its experienced team to drive future growth and operational excellence in the construction sector[68]. - The board includes independent non-executive directors who provide independent opinions to the board, ensuring governance and oversight[62]. Audit and Compliance - The auditor was unable to express an opinion on the consolidated financial statements for the year ended February 28, 2021, due to insufficient audit evidence regarding intangible assets and marketing expenses[41][42]. - The company has established a risk management and internal control system to protect shareholder interests and ensure the integrity of financial reporting[101]. - The audit committee consists of three independent non-executive directors, with Mr. Kong Wei Zhao serving as the chairman[97]. Shareholder Returns - The board has resolved not to recommend a final dividend for the fiscal year 2020/2021, consistent with the previous fiscal year[39]. - The company aims to provide stable and sustainable returns to shareholders through its dividend policy, which will be reviewed periodically[168].