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In partnership with

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The Project « JADE » is a unique opportunity to invest in a Professional Mechanical & Electrical (M&E) Infrastructure solution provider specialising in mission-critical facilities.

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Leverage professional knowledge in Data Centre M&E infrastructure and adhere to internationally recognised standards (~20 accreditations & certifications) to support customers’ critical facilities in these emerging markets.

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The Company was founded in 2004 and is based in Singapore with local offices in Vietnam & Malaysia, as well as strategic partnerships in Batam, Indonesia.

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KEY FIGURES:

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• Revenue:\n
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  • Revenue increased from SGD 13M to SGD 22M (2021 vs. 2023)
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  • Revenue 2023: SGD 22M
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  • Revenue 2024e = SDG 26M
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  • Expected to grow at >10% YoY
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• Has one of the highest proportion of recurring maintenance & operating revenue (~35% recurring revenue) among its peers
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• EBITDA 2023: SGD 2M
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• Net Profit 2023: SGD 1.5M
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• Headcount: 85 FTEs (+ subcontractors when necessary)
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• Strategic product partner for >20 ICT equipment and service providers
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KEY INVESTMENT CONSIDERATIONS:

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1. The Company’s Key Strengths:

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• Strong succession plan with seasoned operators running the business
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• >50 years of collective experience
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• Owner-management Team established themselves as one of the market leaders in Mechanical & Electrical Infrastructure solution provision
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• Strong bench strength with next-generation of management talent identified, groomed and adequately incentivised to encourage owner-mentality and long-term stability.
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• Adhering to internationally recognized standards (~20 accreditation & certifications),
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2. Growth Drivers:

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• Niche and rapidly growing market with AI, cloud tailwinds
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• Few competitors and high barriers-to-entry
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• Diverse client profiles & product partners provide revenue resilience
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• Serving >9 industry and government sectors, including Pure-play data centre operators; Financial services institutions; Telecommunications; Education; Healthcare & Pharma; Legal & Audit; Maritime & Offshore; Real Estate & Interior design; Retail & Hospitality
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• Strategic product partner for >20 ICT equipment and service providers
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3. An Attractive Market:

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• Singapore: On track to exceed one gigawatt (GW) in 2024
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• Malaysia: Forecast to grow 72% from 2022 to USD2.5bn in 2028, outpacing 47% growth rate for all Southeast Asia
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• Vietnam: Forecast to grow at CAGR of 10.68% from USD561m to USD1.03bn (2022 vs 2028)
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• Indonesia: Forecast to grow at CAGR if 14% from USD2.06bn to USD3.98bn (2023 vs 2028)
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