9 ANNUAL REPORT 2023 MESSAGE TO STAKEHOLDERS DRIVING RESILIENT AND SUSTAINABLE GROWTH With our proven track record and extensive engineering capabilities, we believe there are immense opportunities for us as trusted industry partners of large government organisations and renowned international industry leaders. Looking ahead, we will continue our diversification into new markets brought about by the emerging trends towards growing population in urban areas, thus propelling demand for electrification and decarbonisation infrastructure such as power systems protection and control solutions, critical communications, wind and solar systems, battery energy storage systems and electric-vehicle charging infrastructure. We will also continue to expand our engineering capabilities and technology solutions in the areas of electrification, communications, and automation to pursue new market opportunities. Acquisition remains a key growth strategy for the Group to boost our competitive advantage. We are continuously looking out for value accretive and strategic acquisitions to grow and reshape our business to ensure a diversified and sustainable income stream. We have a strong track record of successful acquisitions, having completed and successfully integrated 30 to 40 acquisitions since our inception. To expand our engineering capabilities, we remain on the lookout for acquisitions in the electrification and communications space in the USA, Australia and New Zealand. For our Critical Communications Solutions business segment, we aim to further expand our presence in the USA and be a global player. The most important driver of growth is human capital, and to support growth, we intend to gradually grow our headcount with the right talent who will bring valueadd to our high-quality, sustainable and effective solutions. This includes cultivating a good working environment that supports work-life balance and investing in our employees to ensure they are equipped with the required critical skillsets through regular training. DELIVERING VALUE TO SHAREHOLDERS The Group has delivered profitable and sustainable growth for the past 36 years, and we have also distributed consistent dividend payouts. On the back of the Group’s robust FY2023 performance and healthy financial positions, the Board of Directors has recommended a final onetier tax exempt dividend of 1.50 Singapore cents per ordinary share, subject to shareholders’ approval at the upcoming Annual General Meeting. This translates to a total dividend of 2.75 Singapore cents per ordinary share for FY2023 including an interim dividend of 1.25 Singapore cents per ordinary share, which represents a payout of 75% of the Group’s FY2023 net profit. APPRECIATION We recognise the contributions of many who have supported and helped the Group successfully navigate the challenges and scale new heights during the year. On behalf of the Board of Directors, we express our deep appreciation to our customers and business associates for their continuous support and trust. To our shareholders, thank you for your faith in us through the years. The Board would also like to thank Mr Sin Boon Ann, who is not seeking for re-election in the forthcoming Annual General Meeting, for his invaluable advice, contributions and commitment during his tenure to the Company. Last but not least, we are grateful to the management team and staff, each of whom have contributed to the growth of CSE Global and our strong FY2023 performance. While uncertainties remain in the operating environment, we believe our track record puts us in a competitive stead. Together with our team, we are committed to value creation and growing CSE Global in FY2024. LIM MING SEONG Chairman LIM BOON KHENG Group Managing Director / Chief Executive Officer
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