FBS Global Ltd., a Singapore-based green building contractor and interior fit-out specialist, has reported its financial results for the fiscal year ending December 31, 2024. The company experienced a significant net loss of S$814,366 (USD 610,775), marking a substantial decrease from a net income of S$4,685 in the previous year. This represents a decrease of S$819,051 or 17,482.4%. The company's total other income, net, increased dramatically to S$11,437 from S$117,321, showing a rise of 925.8%. Despite this, the overall financial performance was impacted by the net loss reported. FBS Global Ltd. has financed its operations primarily through cash flows from operations, supplemented by loans from banks and related parties when necessary. As of December 31, 2024, the company reported cash and restricted cash totaling S$2,983,600. The company continues to focus on supporting its future operations through cash generated from its operations and proceeds from its initial public offering. The company acknowledged various factors influencing its financial performance, including competition, demand and supply issues, government regulations, and project management challenges. These elements, along with a negative working deficit, have contributed to the financial results for the year.
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