Ntegrator International Ltd. - Annual Report 2020

Dear Shareholders, 08 OPERATIONS AND FINANCIAL REVIEW The Group recorded a revenue of S$23.1 million in FY2020, representing a decline of 23.5% or S$7.1 million from S$30.2 million in the previous corresponding year. The Group’s revenue is contributed by its two business segments – Project Sales, which contributed 31.1% to the topline, and Project Management and Maintenance Services, which contributed the remaining 68.9%. Revenue from the Project Sales segment increased by 16.3% or S$1.0 million year- on-year to S$7.2 million. While most overseas projects were put on hold due to travel restrictions arising from COVID-19 for most part of the year, this impact was mitigated by a locally secured project and its partial completion in FY2020, resulting in the increased contribution from the Project Sales segment. Revenue from the Project Management and Maintenance Services segment decreased by 33.9% or S$8.2 million year-on-year to S$15.9 million in FY2020. The segment was affected by the COVID-19 pandemic, especially when work ceased completely for almost two months during the Circuit Breaker period, and the foreign workers were not allowed to work. All of Ntegrator’s foreign workers were gradually cleared for work by the Ministry of Manpower subsequent to negative COVID-19 test results.