Financial Highlights

  1. Actual reported figures for the financial year ended 31 December 2020 (“FY2020”) without consolidating the financial statements of the Target Group as per Note 2 below
  2. With reference to the Group's announcement on 24 August 2021, the acquisition of Sembas (Asia) Trading Pte. Ltd., Summit Gas Systems Pte. Ltd., and Semgas Supply Pte. Ltd. (the “Target Group”) was completed on 30 December 2021, following which the Target Group became a wholly-owned subsidiary of the Company. Prior to the acquisition, the Target Group was controlled by a common Controlling Shareholder, Mr Teo Kiang Ang. The acquisition is, therefore, considered to be a business combination involving entities or businesses under common control and is accounted for using the pooling of interests method. Although the acquisition occurred during the reporting year ended 31 December 2021, the consolidated financial statements present the financial position and financial performance as if the Target Group had always been combined since the beginning of the earliest period presented.