FBS Global (FBGL) Registration Filing summary

Company overview and business model

• Operates as a Singapore-based green building contractor and interior fit-out specialist with over 20 years of experience in institutional, residential, commercial, and industrial projects.

• Focuses on sustainable construction methods and materials, aiming to lead in green building solutions and energy-efficient projects.

• Services include design, supply, and installation of ceilings, partitions, timber decks, and other interior elements, as well as main construction works.

• Holds key certifications (ISO 9001, ISO 14001, ISO 45001, bizSAFE Level Star) and has completed multiple award-winning projects recognized for environmental sustainability.

• Operates through a holding company in the Cayman Islands, with all operations conducted via a Singapore subsidiary.

Financial performance and metrics

• Revenue for the year ended December 31, 2023 was S$21.8 million (US$16.1 million), up 29.6% from S$16.8 million in 2022.

• Net income for 2023 was S$4,685 (US$3,467), down from S$68,627 in 2022, reflecting higher operating expenses and provision for credit losses.

• Gross profit for 2023 was S$2.6 million (US$1.9 million), with a gross margin of 12.1%.

• As of June 30, 2024, cash was S$4.6 million (US$3.4 million), with total assets of S$17.7 million and total liabilities of S$12.6 million.

• Working capital as of June 30, 2024 was negative S$213,365 (US$157,888), compared to positive S$1.2 million at December 31, 2023.

Use of proceeds and capital allocation

• 30% of net proceeds to be used for M&A projects, partnerships, and future business development.

• 30% allocated to expanding existing locations, hiring qualified personnel, and marketing.

• 30% for research and development and AI analytics for new green building materials.

• 10% for working capital and general corporate purposes.