OUR BUSINESS STRATEGIES
Our corporate objective is to achieve sustainable growth in our current business and to create long-term shareholder’s value. We intend to achieve this by implementing the following corporate strategies:
Expand our business and strengthen our market position in the public residential sector in Singapore
Our revenue attributable to the public residential sector in Singapore was approximately 95.9%, 92.5% and 88.8% of our total revenue for the three financial years ended 30 June 2013, respectively. According to HDB website, approximately 83% of the Singapore’s resident population stays in public residence in 2013. The public residential sector is hence the largest property supplier in Singapore. According to the Singapore’s population white paper in January 2013, Singapore’s resident population amounted to 3.8 million as at June 2012 and the government plans to increase the Singapore’s resident population to between 4.2 and 4.4 million in 2030. With this projected population growth, our Directors believe that there will be a constant flow of new public residential projects. With our established track record in the public residential sector, we expect to be invited to quote in more HDB projects by the main contractors, and more projects taken will strengthen our market position in this sector. As our Group increases the number and/or scale of projects we secure, we will be purchasing more materials and expanding our workforce.
OUR COMPETITIVE STRENGTHS
We have a reputation as an established electrical engineering company for the public residential sector projects in Singapore. Our Group has earned itself a reputation as an established electrical engineering company for the public residential sector projects in Singapore and our key management staff have built up a successful track record. Our Directors believe that we have established a good rapport with our customers. We provide electrical engineering services mainly for new construction projects in the Singapore public residential sector, which made up approximately 95.9%, 92.5% and 88.8% of our total revenue for the three financial years ended 30 June 2013, respectively.
Our good relationships with suppliers enable us to obtain competitive pricing which in turn provides us the flexibility to price our services to customers
Our Group has established and maintained a good relationship with a network of suppliers and subcontractors, some of who had known or worked with our key personnel for over 10 years. Our good relationships with our suppliers are partly based on our practice of prompt payment which has benefited our Group from negotiating a competitive price, which in turn, provides us with the flexibility to price our services to our customers. Furthermore, as most of our projects’ contract values are in the range of S$3 million to S$14 million, we enjoy economies of scale for considerable size of certain projects or procuring more than one project at the same time.
We have an experienced, dedicated and dynamic management team in the electrical engineering industry
Our executive Director and members of senior management has extensive experience in the electrical engineering industry. Our Directors believe that the combination of our management and project teams’ collective expertise and knowledge of the industry, together with our qualified employees, have been and will continue to be our Group’s valuable assets.