About CHUAN HOLDING Company

We have been providing earthworks services to Singapore's construction industry for over 20 years. According to a Euromonitor report, in 2014 we were among the top five earthworks contractors in Singapore, ranked by revenue. As of December 31, 2015, we operated more than 90 dump trucks and 90 excavators, with a workforce exceeding 300 employees. During the reporting period, our group completed 199 earthworks projects and related services. For the three fiscal years ended December 31, 2013, 2014, and 2015, earthworks and related services accounted for approximately 89.5%, 60.2%, and 49.0% of our total revenue, respectively. We actively participate in government‑funded projects, such as those undertaken by the Housing Development Board and subway stations. Our competitive advantage lies in our ability to manage and execute earthworks projects—both large‑scale and complex—on time and with reliability. Our strong track record and experienced management team are key factors behind our reputation in the local construction sector. In addition to earthworks, we also undertook general construction works, including alterations and extensions. Over the same three-year period, general construction accounted for approximately 10.5%, 39.8%, and 51.0% of our total revenue, respectively. The Group was founded by Executive Director and Controlling Shareholder Mr. Lam, who, with the support of Executive Directors Mr. Kwok, Mr. Bijay Joseph, Mr. Liu, and department heads, oversees the Group's operations. Mr. Lam is responsible for overall management, strategic planning, and business development, while Mr. Kwok, Mr. Bijay Joseph, and Mr. Liu bring extensive expertise in project bidding, contract administration, and project management, ensuring rigorous oversight of all projects and delivering on our commitments to clients. Since June 16, 2009, the Group has held a Class 1 General Contractor License under the Construction Authority's Contractor Licensing System, enabling us to undertake general construction contracts across both the public and private sectors. As a Class 1 General Contractor, we may bid directly on public‑sector projects up to the limits set by the Construction Authority, while private‑sector contracts are subject to no such restrictions. Furthermore, we are registered contractors under the Construction Authority's Contractor Registration System, holding B1‑rated CW01 "General Construction" (effective January 10, 2013) and B2‑rated CW02 "Civil Engineering" (effective October 9, 2008). Accordingly, we are eligible to directly bid on Singaporean public‑sector projects valued at up to SGD 42 million and SGD 14 million, respectively. Since February 6, 1999, we have also been a registered contractor for the single‑grade CR03 "Demolition," and since November 27, 2015, for the L1‑rated CR07 "Cable/Pipe Laying and Road Repair." For the three fiscal years ended December 31, 2013, 2014, and 2015, our revenues totaled approximately SGD 61.4 million, SGD 92.4 million, and SGD 99.3 million, respectively. Singapore's public‑sector pipeline continues to expand, encompassing numerous major metro projects, such as the Eastern Region Line. These initiatives will require substantial construction work, and the Executive Directors are confident that, as one of Singapore's top five earthworks contractors in 2014 (by revenue), we will be well positioned to participate in several of these projects.