Fbs Global Ltd. (Singapore)

The Company is a holding company with no business operation.
Based on the management's assessment, the Company determined that it has only one operating segment and therefore one reportable segment as defined by ASC 280. The Company's assets are all located in Singapore and all of the Company's revenue and expense are derived in the Singapore. Therefore, no geographical segments are presented. The single segment represents the Company's revenue from construction contracts, sale of construction materials and rendering of services to its customers in Singapore.
2022: The Company is a holding company which was incorporated on March 10, 2022 under the laws of Cayman Islands as an exempted company with limited liability.
The Company owns 100 equity interest of Success Elite Development Limited, a limited liability company incorporated in the British Virgin Islands on February 22, 2022, acting as a holding company. Success Elite Development Limited (“SEDL”), in turn, holds 100 equity interest of Finebuild System Pte Ltd. (“FBS SG”), the only operation arm of the group of companies which is a limited liability company incorporated on March 9, 1996 under the laws of the Republic of Singapore.
A reorganization of FBS SG's legal structure was completed on August 2, 2022. The reorganization involved the incorporation of the Company, and its wholly-owned subsidiaries, SEDL; and the transfer of all equity ownership of FBS SG to SEDL from the former shareholders of FBS SG. In consideration of the transfer, the Company issued 11,250,000 ordinary shares with par value 0.001 per share to the former shareholders of FBS SG.
On August 2, 2022, the former shareholders transferred their 100 ownership interest in FBS SG to SEDL, which is 100 owned by the Company. After the reorganization, the Company owns 100 equity interests of SEDL and FBS SG. The controlling shareholder of the Company is same as that of FBS SG prior to the reorganization.
The Company have applied to list its Ordinary Shares on Nasdaq under the symbol FBGL.