Ntegrator International Ltd. - Annual Report 2020

Dear Shareholders, In the year 2020, the world was gripped by concerns over the unprecedented COVID-19 outbreak, as well as major geopolitical developments around the world. Many countries turned to lockdowns and restrictions in movement and non-essential businesses to curb the spread of the highly contagious virus, which led to disruptions in supply chains and global markets. As a result, many companies, including major customers of the Group, curtailed spending through delaying or holding back orders. Ntegrator’s overseas projects were also put on hold during the year due to the ensuing travel and border controls. In Singapore, the Group was unable to carry out any work during the two months of Circuit Breaker in April and May. Subsequently, work was allowed to resume post-Circuit Breaker and only after all of the Group’s foreign workers had tested negative for COVID-19. The Group recorded a revenue of S$23.1 million for the year ended 31 December 2020 (“FY2020”), a decline of 23.5% from the previous year’s S$30.2 million, and a resultant net loss attributable to equity holders of the Company of S$2.8 million, compared to a net loss attributable to equity holders of the Company of S$2.0 million in the previous year. As at 31 December 2020, cash and cash equivalents stood at a healthy S$8.3 million, compared to S$2.4 million as at 31 December 2019. CHAIRMAN’S MESSAGE 06