We provide recreational amenities such as mini games courts, gym sites and planting corners for relaxation, well-being and exercise, at our various worker accommodations. Proper rest and canteen areas provide on-site relief and relaxation for workers during their shifts. Our overseas staff in the Maldives were also given essential training for their jobs such as x-ray operation, airline security, wildlife hazard management, fire-fighting training and more. In FY2024, we recoded 3,394 training hours; 8.2 hours of training per employee and 11.5 hours of training per worker were expended. Our Sustainability Report 2024 provides a more detailed narration of our training, staff benefits and welfare, workplace safety and health initiatives. SUSTAINABILITY EFFORTS AND CORPORATE RESPONSIBILITY Our corporate social responsibility efforts included support for educational programmes, donations to charitable organisations and scholarship awards for our staff and workers. In FY2024, our programmes aimed at helping our staff and workers attain their potential within the organisation included our assistant project manager, Ms Michelle Leu. She will complete her master’s degree in international construction management from Nanyang Technological University in 2025. We continued our Institute of Technical Education (“ITE”) sponsorship, supporting ITE’s Work-Learn Technical Diploma programme. Donations to various charitable organisations were also part of our corporate social responsibility programme. Among the beneficiaries in FY2024 were the Church of The Immaculate Heart of Mary, Singapore Children’s Society and the ITE Education Fund. Among our various sustainability programmes, energy use due to the nature of our industry remains one area of focus. The Group endeavours to utilise renewable energy sources instead of non-renewable sources so as to preserve the environment, reduce production and operating costs, and meet compliance standards. We incorporate, where possible, green-label appliances and energy-efficient light fittings to reduce energy consumption and emissions. In 2023, we completed the installation of solar panels on the rooftop of our Chin Bee Factory. These have begun to provide low-carbon energy to our operations in the factory and will potentially provide excess solar energy to the electrical grid. The Group also utilises solar energy to power noise meters and traffic warning signs. In order to preserve the pristine and natural beauty of the Maldives and to counter damage to corals due to tourist activities, the Group has imposed rules on boat operators on the island such as anchoring, boat operation, boat sewage, and garbage disposal. Strict rules have also been placed surrounding activities such as fishing, marine wildlife viewing, snorkelling, diving, and scuba. We continued to maintain the corals at our corals nursery and those transplanted to Ocean Villas and Underwater Villas. OUTLOOK FOR 2025 The Ministry of Trade and Industry has forecasted slower growth for Singapore in 2025. Challenges facing Singapore and the world include the United Staes (US) and China trade conflict which may intensify under a new US administration, continued tensions globally and market volatility with continued inflationary pressures exacerbated by potential increased tariffs and high interest rates. All these would translate into a difficult operating environment for the Group. Nevertheless, we have time and time again demonstrate resilience and fortitude. With a strong order book, financial prudence, sound management strategies and an innovative mindset, we are confident of overcoming whatever obstacles lie ahead. 15 ANNUAL REPORT 2024 FINANCIAL AND OPERATIONS REVIEW
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