On 27 January 2022, the Group completed the acquisition of iFocus Pte Ltd. The principal activity of the company is communications product development and engineering company with experience in developing train-borne communications systems, estate monitoring systems and Internet of Things application design and manufacturing. The Proposed Acquisition is in line with the Group’s strategy to (i) integrate the use of technology in its operations and pivot away from the traditional form involving labour intensive services towards a business form with a greater focus on engineering and technology; (ii) allow the Group to enter into the green and sustainable technology market; (iii) increase the Group’s revenue base and profile of customers; and (iv) offer additional solutions to the Group’s customers.