About Chairman's Message
On behalf of the Board of Directors (the “Board”), I am pleased to present the financial results of AA Group Holdings Ltd. (the “Company”) and its subsidiaries (collectively, the “Group”) for the financial year ended 31 December 2108 (“FY2018”) to the shareholders of the Company (the “Shareholders”).
Following the Group’s diversification of business activities in 2017, we have continued to strengthen our position in the construction industry and leasing markets. In December 2018, the Group completed its acquisition of Poh Huat Heng Corporation Pte. Ltd. (“PHH”), which not only adds a new revenue stream to the Group, but also provides synergistic and complementary effect to the Company’s earlier acquisitions of W&P Corporation Pte. Ltd. (“WPC”) and W&P Precast Pte. Ltd. (“WPP”).
The acquisition of PHH is part of the Company’s efforts to diversify its core business, based on the Company’s diversification of business mandate. Armed with the various businesses acquired over the past two years, the Company will now also focus on enhancing the synergistic and complementary effects in order to improve efficiency and profitability of the Group as a whole.
This corporate strategy of business diversification and growth aims to provide the Shareholders with long-term growth, as it brings in new business opportunities and improves the Group’s prospects for the future.