About CHUAN HOLDING Company

We have over 20 years of experience providing earthwork services to the construction industry in Singapore. According to Euromonitor reports, in 2014, we were one of the top five earthworks contractors in the Singapore construction industry (in terms of revenue). As of December 31, 2015, we had more than 90 dump trucks and 90 excavators, and more than 300 employees. During the track record period, the Group has completed 199 earthworks and related service projects. For the three years ended 2013, 2014 and December 31, 2015, earthwork and related services accounted for about 89.5%, 60.2% and 49.0% of our total revenue, respectively. The company actively participates in Singapore government projects such as the Housing Development Authority and subway stations. Our competitive advantage is our ability to manage and execute earthmoving projects on time and reliably, including large, complex projects. Our solid track record and experienced management team are the main factors that have made us famous in the local construction industry. During the track record period, we also undertook general construction projects, including alterations and additions. For the three years ended 2013, 2014 and December 31, 2015, general construction projects accounted for about 10.5%, 39.8% and 51.0% of our total revenue, respectively. Mr. Lin, an executive director and controlling shareholder, founded the Group and managed the Group's business with the help of executive directors Mr. Guo, Mr. Bijay Joseph, Mr. Liu, and heads of various departments. Mr. Lin is responsible for overall management, strategic planning and business development. Mr. Guo, Mr. Bijay Joseph, and Mr. Liu are familiar with project bidding, contract management, project management, etc., and strictly supervise all projects to ensure that promises to customers are fulfilled. The Group has held a Class 1 general builder license under the Builder Permit System issued by the Construction Bureau since June 16, 2009, and can undertake general construction contracts in the public and private sectors. We are general builder type 1 license holders and can undertake general construction contracts of any value in the private sector, while public projects are subject to the upper limit set by the Construction Bureau. Furthermore, the Group is a registered contractor within the Construction Authority's contractor registration system. The registered jobs include B1-rated CW01 “general construction” (from January 10, 2013) and B2-rated CW02 work “civil engineering” (from October 9, 2008). Based on this, we can directly bid for Singapore public projects worth 42 million Singapore dollars and 14 million Singapore dollars respectively. The Group has also been a registered contractor for single-rated CR03 “dismantling” work and L1 rated CR07 “cable/pipe laying and road repair” since November 27, 2015. For the three years ended 2013, 2014, and December 31, 2015, our earnings were approximately SGD 61.4 million, SGD 92.4 million and SGD 99.3 million, respectively. Singapore's public projects followed one after another, including several Singapore MRT master plans, such as the Eastern Region Line (EasternRegion Line). The above projects will require extensive construction work, and the Executive Director believes that as one of the top five earthworks contractors (based on revenue) in the Singapore construction industry in 2014, we will be able to participate in several of these projects.