FBS Global (FBGL) Registration Filing summary

Company overview and business model

• Operates as a holding company incorporated in the Cayman Islands, with principal operations conducted through its Singapore subsidiary, Finebuild Systems Pte. Ltd., specializing in green building contracting and interior fit-out services for institutional, residential, commercial, and industrial projects.

• Focuses on sustainable construction methods and materials, with a strong track record in green building projects recognized by BCA Green Mark Awards in Singapore.

• Offers a full suite of services including design, supply, and installation of ceilings, partitions, timber decks, and mechanical & electrical services, as well as main construction and builder works.

• Business growth strategy centers on expanding green and sustainable building solutions, targeting high-growth ASEAN regions, and investing in talent and supply chain integration.

Financial performance and metrics

• For the year ended December 31, 2024, reported revenue of SGD 13.85 million (USD 10.39 million), a 36.5% decrease from SGD 21.81 million in 2023, primarily due to fewer new projects and project delays.

• Gross profit for 2024 was SGD 1.25 million (USD 0.94 million), with a gross margin of 9.0%, down from 12.1% in 2023.

• Net loss for 2024 was SGD 814,366 (USD 610,775), compared to net income of SGD 4,685 in 2023.

• As of June 30, 2025, cash balance was SGD 6.97 million (USD 5.30 million), with positive working capital of SGD 5.71 million (USD 4.34 million).

• Six months ended June 30, 2025, saw net income of SGD 243,980 (USD 185,425), a significant improvement over the same period in 2024.

Use of proceeds and capital allocation

• Net proceeds from the offering (estimated at $5 million minimum, $10 million maximum) will be allocated 40% to business expansion and 60% to working capital and general corporate purposes.

• Management retains broad discretion over the use of proceeds, with flexibility to adjust allocations based on business needs and market conditions.