"With the Covid-19 situation being carefully managed, we are seeing a return of confidence in the economy. This has led to a definitive uptick in the number of public and private projects up for tender including those that had been put on the backburner during the height of the pandemic," says group executive director and CEO Anthony Koh.
"The government has been supportive of the industry and has taken steps to address the shortage of foreign labour. We are optimistic of being able to ramp up our activities and secure more projects as the labour situation continues to improve. At the same time, we are closely monitoring the cost of raw materials because we expect the current geopolitical tensions in Eastern Europe to have an impact on global supply chains and further drive up prices. We will continue to adjust our procurement strategy as well as our pricing strategy to take into account any significant cost increases in order to safeguard our margins," he adds.
Shares in ISOTeam closed 4.17% higher on Mar 22 at 10 cents.
Photo: The Edge Singapore/ Albert Chua
