Summary of statistics:
Total number of shares sold: 307500000 shares
Proportion of shares sold publicly: 10.0%
Sale: HK $0.52
Estimated collection of funds: HK $1599
Income per hand: HK $2626.20
A summary of the collection
The bazaar mainly provides labor dispatch and supporting services to construction and construction contractors in Singapore. It also provides hostel services, information technology services and a small number of construction services where appropriate.
In terms of labor dispatch and supporting services, foreign workers from India and Bangladesh are recruited, employed, trained and paid in Singapore through (I) recruitment, employment, training and payment to other agencies, and (ii) dispatching them to Singapore designated by the customer to carry out various types of construction work. The main types of scaffolding installation, welding, installation of reinforcement and carpentry are the main types of scaffolding installation, welding, reinforcement and carpentry. If requested by customers, the collection service will also be provided to customers during the dispatch period, including providing accommodation services for dispatched staff to live in self-service hostels or third-party hostels and arranging cards for dispatching staff to and from the workplace. As for hostel services, the self-owned Woodlands hostel provides hostel services for expatriate workers to construction and construction contractors in Singapore. The hostel service of the collection generally includes the provision of dormitory beds, and the duration of the contract is usually from six months to one year.
Industry summary
According to the Singapore Bureau of Statistics and the Ministry of Human Resources, the number of foreign workers in Singapore's construction industry rose from 265,000 in 2011 to 316,000 in 2016, and the number of foreign workers employed by labor dispatch service providers during the period increased from 21,000 to 300,000. In 2021, the number of foreign workers in Singapore's construction industry reached 417,000, while the number of foreign workers employed by labor dispatch service providers reached 47,000.
Cymbals
The service that provides labor dispatch service depends on the collection's ability to obtain foreign workers, such as difficulties in obtaining adequate foreign workers, or it may have a significant negative impact on the employment and service structure of the collection, such difficulties may include wage increases for workers in Bangladesh and India, labor shortages in Bangladesh and India, and the legal or policy activities of the Ministry of Manpower of Singapore on the employment of foreign workers.
Valuation
According to the IPO document, as of April 30, 2017, based on the 1,230th shares expected to be issued upon the completion of the sale of the outstanding shares, the share attributable to the unaudited equipment tested consolidated tangible assets was S $2737, equivalent to an untested tangible assets value of HK $0.13 per share (calculated at an annualised rate of S $1.00 to HK $5.7863).
