Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Our profits vary from project to project and are highly dependent on the negotiated terms under each of the agreements.
• Our profits would decrease significantly in the event of a significant decrease in projects.
• We are exposed to the risks of default or payment delays in collecting our accounts receivables.
• We are dependent on the construction industry in Singapore.
• Our operations rely heavily on the maintenance of our current licenses.
• We rely on foreign workers and are vulnerable to potential negative impacts resulting from changes in foreign labor policies.
• The estimated project cost could be inaccurate. If we experience any cost overruns for projects, our profits and financial performance would be adversely affected.
• Our continued success is dependent on our key management personnel and our experienced and skilled personnel, and our business may be severely disrupted if we are unable to retain them or to attract suitable replacements.
• Our reputation and profitability may be adversely affected if there are flaws or defects in our products or services or delays in the completion of our projects.
• We rely on our suppliers and subcontractors to fulfill our customer contractual obligations.
• We are subject to risks associated with the quality of our work.
• We are and may continue to be exposed to litigation, claims or other disputes.
• Increased competition in the design and construction business in Singapore may affect our ability to maintain our market share and growth.
• Our business and operations may be materially and adversely affected in the event of a re-occurrence or a prolonged global pandemic outbreak of Coronavirus Disease 2019 (COVID-19).
• We may be affected by an outbreak of other infectious diseases.
• Our insurance policies may be inadequate to cover our assets, operations and any loss arising from business interruptions.
• We may be harmed by negative publicity.
• We may not be able to successfully implement our business strategies and future plans.
• Failing to address and remedy the identified weaknesses in our internal control over financial reporting, together with the potential occurrence of additional weaknesses in the future, may result in inaccurate or delayed financial reporting and lead to non-compliance with accounting and reporting standards for public companies, adversely affecting the market value of our Class A Shares.
• We are affected by interest rate increases with respect to our banking facilities.
• We are dependent on a small number of key customers for continued sale of our products and services.
• We are exposed to the credit risks of some our customers.
• Our operations are and could continue to be subject to inflationary pressure, and we may not be able to pass on the resulting rise in costs.

Mitigation Strategies

• We are currently in the process of implementing several measures to address the material weaknesses identified, including (i) hiring additional qualified accounting personnel with relevant U.S. GAAP and SEC reporting experience and qualifications to strengthen the financial reporting function and to establish a financial and system control framework; (ii) expanding the capabilities of existing accounting and financial personnel by implementing regular and continuous U.S. GAAP training programs; (iii) preparing comprehensive accounting policies, manuals and closing procedures to improve the quality and accuracy of our period-end financial closing process; and (iv) hire experienced IT staff with qualifications of the CRISC (“Certified in Risk and Information Systems Control”) to formalize and strengthen the key internal control over Information Technology General Control.

Supply Chain Management

Climate-Related Risks & Opportunities