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Full Year financial statements on consolidated results for the year ended 31 December 2017

Financials Archive

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Consolidated Statement of Comprehensive Income for the period ended 31 December 2017

Income Statement

Statement of Financial Position as at 31 December 2017

Balance Sheet


Outlook for the global economy is looking up, with broad recovery in manufacturing and trade. Sentiment in the Singapore property market is also seeing an upturn, as transaction volumes are expected to be higher and the en-bloc fever continues. Public sector projects remain the main driver for the construction industry in the year ahead. The Building and Construction Authority ("BCA") estimated that total construction demand in 2018 is expected to be between S$26.0 billion and S$31.0 billion, higher than that achieved in 2017. Of this amount, public sector projects are expected to account for about 60% (1). The increase in overall construction demand is mainly due to an anticipated increase in both public sector and private sector construction demand.

The precast business is expected to continue to benefit from government policies and projects where precast concrete components are used, such as HDB flats and MRT tunnelling works. In view of the competitive market conditions, the Group's Precast division will continue to focus on productivity improvement at its casting yard at Batam Indonesia.

As at 31 December 2017, the Group's Construction and Precast divisions have outstanding order books of approximately S$170 million and S$94 million respectively.

(1) "Public sector construction demand is expected to strengthen this year", BCA, 11 January 2018

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