We are on the verge of completing this year which has obviously not been so good. While we have done well on most of our projects, a couple of projects have been greatly troublesome which has resulted in financial losses. In terms of new business also, we have not been able to secure many high-margin new jobs which will place further pressure on margins in the near future. The increased competition is expected to remain and the only way we can fight this competition and also avoid any financial losses on any of our jobs is to tighten our systems and procedures in terms of how we execute our projects. We need to improve on all aspects of our project execution methods and if we don’t do this now, we will not be able to survive the tough competition we have faced and will continue to face in the years to come. As such I urge all of our Project Management and Execution teams to gear up and deliver up to your maximum potential which each one of you is truly capable of delivering.
Thank You and With Best Wishes