Page 9 - Build Strong Resilience in the Real Estate and Construction Sector

We at APAC Realty realise that COVID-19 will undoubtedly change the way we work as a real estate agency
and service provider. At the company level, we have been preparing for this by taking investments in the
digitalisation of workflow as priority. This means building into our daily processes e-invoicing, e-payments and
e-authorisation processes. With a more streamlined and efficient workflow we aim to improve productivity,
turnaround and this creates more visibility in the certainty of our cash flows and credit management.

For our agents, technology tools such as virtual tours, 360 degree viewing capabilities, have been deployed
to help complement physical viewings. We are confident that such activities will return after the COVID-19
pandemic ceases. You can never substitute physical interaction because nothing beats the in-person
experience. But technology and tools will be able to narrow down options and aide in better customer
information sharing and selection.

Mr Poh Chee Yong, CFO, APAC Realty

Given the current COVID-19 crisis, there is much uncertainty as to how wide-spread this will be and how long
the outbreak will last. It is important to take pre-emptive and precautionary measures over safety, liquidity and
resources of the company to ensure that risks are managed and contained.

We have focused on liquidity and cash flow management actively since the outbreak and we have implemented
cost-cutting measures and engaged our bankers actively for their support on a continual basis.

On the operational side of things, when dormitories announced rising worker infections in early April 2020, we
quickly relocated some of our essential services workers to alternative staff quarters. This ensured business
continuity at the work sites. When the circuit breaker was imposed on 7 April and all activities had to be
suspended, we gave assurance to our workers on salaries and our continued commitment to their welfare. This
is important as it will provide a sense of security and belonging to our workforce.

Keong Hong has also been collaborating with consultants and our clients on advance planning for alternative
accommodation, social distancing and work site segregation. This will allow a swift restart once the
circuit breaker is lifted. We can then be assured that we are poised to catch up on work schedules without
compromising the safety of our team.

Mr Tan Kah Ghee, CFO, Keong Hong Holdings

Build strong resilience in the real estate and construction sector amidst the challenging outlook 9