Description
The company presents a compelling opportunity as a well-established and reputable engineering and construction company in Singapore. Incorporated in 1980, the company boasts a long and successful operating history of over four decades, signifying stability and deep industry experience.
The company has demonstrated a consistent track record of financial performance. For the financial year ended 31 December 2023, the net profit represented a significant proportion of the revenue (~20%). The company also maintains a strong equity position.
A significant strength of the company lies in its highly experienced and loyal workforce. A substantial 62% of the workforce has been with the company for over 10 years, with an average employment tenure of 14.9 years. This speaks to the expertise, commitment, and stability of the team, reducing potential transitional challenges for a new owner. The workforce is also described as multi-skilled, enhancing the company's operational flexibility.
The company is committed to quality and safety, as evidenced by its certifications in ISO9001:2015 (Quality Management System) and ISO45001:2018 (Occupational Health & Safety Management System), as well as bizSAFE Level STAR. The company also has an outstanding safety record, having achieved zero recordable injuries for many continuous years and received multiple awards for its safety performance, including the bizSAFE Enterprise Exemplary Award (GOLD) in 2020 and 2021, and the 4th ASEAN-OSHNET Excellence Award in 2022. This strong emphasis on EHS is crucial for maintaining client trust and operational efficiency.
The business offers diverse service capabilities within the engineering and construction sectors. These include Project Works (covering piping & structural work, process equipment installation, and leveraging partnerships for NDE, E&I, civil works, blasting and painting, scaffolding, and hot tap & stopple operations), Service & Maintenance, Warehouse Operations, Shut Down & Turn Around services, and Testing and NDE (through partners). This diversified service portfolio allows the company to cater to a broader range of client needs and project types.
The company is incorporated and domiciled in Singapore, a well-regarded business hub with a stable regulatory environment. Furthermore, the company actively engages in capital management to maintain a strong financial position and maximize shareholder value.
The financial statements have generally received a positive opinion from independent auditors, indicating a transparent and well-managed financial reporting process.
In summary, the company presents a mature, financially stable, and safety-conscious business with a skilled workforce, a diverse service offering, and established client relationships, making it an attractive acquisition opportunity in the Singapore engineering and construction industry.
Singapore 
