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Public company info - Hygieia Group Limited , 01650.HK
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Hygieia Group Limited, 01650.HK - Company Profile
Chairman Toh Eng Kui
Share Issued (share) 2,000,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The group is an established general cleaning service provider in the environmental services industry headquartered in Singapore with operations in both Singapore and Thailand. Performance for the year: The Group generated revenue of approximately S$56.3 million, S$72.4 million and S$76.4 million for the three years ended 31 December 2019.For the three years ended 31 December 2019, the Group’s gross profit was approximately S$10.3 million, S$12.7 million and S$14.0 million, respectively, representing gross profit margin of approximately 18.2%, 17.5% and 18.3% for the same periods, respectively. Business Review According to the Frost & Sullivan Report, the environmental services industry in Singapore comprises general cleaning services, landscaping services, waste management and others. As a testament to this, based on the Frost & Sullivan Report, the Group ranked second among the cleaning service providers in Singapore in terms of revenue and market share in 2019. As an established cleaning service provider, the Group primarily provides general cleaning works for a variety of public and private venues including a sports stadium, medical centres, shopping malls, commercial and industrial buildings, schools, hotels, private condominiums as well as public access areas in town councils in Singapore. The Group’s operations are not limited to Singapore. The Group also provides general cleaning works for private customers at private residences, an office, a hotel and industrial buildings in Thailand. The Group has more than 25 years of experience in the environmental services industry and the Group has the capability to tender for service contracts of an unlimited value under the Group’s L6-graded FM02 workhead for ‘‘Housekeeping, Cleansing, Desilting and Conservancy’’ services currently held by Eng Leng. As at the Latest Practicable Date, the Group employed over 2,500 employees and have 304 ongoing service contracts (excluding one-off contracts) which, given the labour-intensive nature of the Group’s industry, is a testament to the Group’s ability to handle multiple contracts spread across different districts and venues in Singapore concurrently. The Group’s top five customers during the Track Record Period include various private corporations, Singapore Government agencies, and town councils (including the management agents appointed by them). For each of the three years ended 31 December 2019, the Group’s total revenue for public and private sector contracts amounted to approximately S$15.8 million, S$24.5 million and S$29.8 million, and approximately S$40.6 million, S$47.9 million and S$46.5 million, respectively. The Group’s Directors believe that the Group’s business model, which strives to be customer-oriented and is focused on establishing long-term business relationships with the Group’s customers through the provision of highquality and consistent services has contributed to the Group’s track record and market position as an established cleaning service provider. This is evidenced by the fact that, during the Track Record Period, the Group’s business relationships with the Group’s top five customers was on average six years. The Group’s operating subsidiaries in Singapore, Eng Leng and Titan, were incorporated in 1991 and 2006, respectively, and with this legacy, the Group prides ourselves on the Group’s long-standing track record and as one of the established cleaning service providers in Singapore. To achieve and maintain the Group’s quality of services, the Group has implemented, amongst others, a quality management system accredited by the Group’s ISO 9001:2015 certification for the provision of cleaning and housekeeping services. The Group’s operating subsidiaries in Singapore have been recognised through a Clean Mark Silver award from the NEA which recognises cleaning businesses that deliver high cleaning standards through the training of workers, use of equipment to improve work processes, and fair employment practices. The Group’s track record is further evidenced by the Group’s L6-graded FM02 workhead for ‘‘Housekeeping, Cleansing, Desilting and Conservancy’’ services held by Eng Leng, which allows us to tender for public sector contracts of an unlimited value in Singapore. As at the Latest Practicable Date, Eng Leng was one of the 27 registered contractors who has attained an L6 grade for the FM02 workhead among 401 other contractors registered with the FM02 workhead. During the Track Record Period, an aggregate of approximately S$205.1 million has been recognised by the Group as revenue. According to the Frost & Sullivan Report, there is growth potential in the environmental services industry in Singapore due to, amongst others, (i) growing demand from commercial and residential buildings being developed; (ii) greater awareness of public hygiene, which has resulted in an increased demand for professional cleaning services in commercial and residential areas; (iii) the Singapore Government’s focus on increasing productivity through the adoption of advanced technologies; (iv) rising supply of parks and open spaces, resulting in an increase in demand for landscaping services, especially in the public sector; (v) strong Singapore Government support for the development and growth of the waste management and landscaping industries through the promulgation and introduction of incentive schemes and policies; and (vi) the increase in the population and development of Singapore which is expected to lead to an increase in amount of waste generated in Singapore, and in turn, waste management and disposal services. Further, according to the Frost & Sullivan Report, cleaning service providers which are able to provide integrated cleaning services to customers including, general cleaning, landscaping services and waste management and disposal, are more competitive in the market. In view of the foregoing, the Group intend to capitalise on such growth opportunities and realise the Group’s vision of becoming an integrated service provider through the implementation of the Group’s business strategies, which includes expanding the Group’s service capacity and improving the quality and efficiency of the Group’s services in Singapore and broadening the Group’s service offerings. Please refer to the paragraph headed ‘‘Business strategies’’ in this section for more information. The Group’s Directors believe that the Group can leverage on the Group’s market-leading position in the cleaning services industry and the Group’s operational resources to gain a competitive edge in Singapore by capturing such growing demand for environmental services. Prospects: the Group’s vision is to become an integrated service provider in the environmental services industry, and to provide consistent and quality cleaning services to the Group’s customers. Through the implementation of the following business strategies, the Group intends to further entrench and to increase the Group’s market presence in the environmental services industry with a view towards positioning ourselves as a regional integrated service provider. 1、Expand the Group’s service capacity as well as improve quality and efficiency of the Group’s services 2、Broaden the Group’s service offerings in Singapore 3、Expansion of in-house waste management services 4、Acquisition of landscaping company 5、Explore business opportunities in the Southeast Asian region

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