Chairman's message sounds promising! In particular these...

Chairman's message sounds promising! In particular these paragraphs:

Unrelenting Efforts Paying Off
Our push into Green Energy projects had been unrelenting in expediting technology developments and engagement with customers. Most of these efforts had to be carried out remotely. The hard work and tenacity in the midst of very tough challenges finally paid off with us securing a total of S$60m of LNG propulsion systems. These were secured from one of the world’s biggest oil tanker owners. The tankers are chartered to a top European oil company which strongly champions green energy and sustainability. This strong recognition is now propelling us to foray into different medium of carbon-free gas propulsion systems to meet industry demand, such as methanol and ammonia.

Green Shoots
In the last 6 months, general enquiries covering all sectors of our businesses have increased. We believe the Group has turned the corner and should see better days ahead. The resilience, fortitude and dedication of the Group’s management and work force reinforce the Group’s ability to capture growing opportunities as the global economy is resetting. The pandemic is expected to ease with increased vaccinations. Humanity and businesses are adapting to live with this potential endemic as a new normal to restore economic growth.

Share Buy-back
Our ability to deliver projects successfully in the pandemic enabled the Group to pay off all project loans taken in time, and to achieve a strong positive cash flow. This has reduced the Group’s gearing ratio positioning the Board to review its capital management policy. As the board is of the opinion that the Group’s quoted share price does not reflect its intrinsic value, it has decided on a share buy-back from September 2021.