Trading and Distribution Division

External revenue for our Trading and Distribution Division eased 4.3% from $16.3 million in FY2007 to $15.6 million in FY2008 due to the deferment of projects from some of our customers. Profit before interest and tax also dipped to $2.1 million in FY2008 from $2.9 million in FY2007.

The business strategy of this Division is to ride partly on the Switchgear business and also capture the critical mass of component requirements from all levels of trading and distribution within the construction market. Given the diffuse nature of this business, our aim is to focus on volume generation per customer count as compared to project count. The year 2008 marked the 30th year of success for Bridex Singapore both as a manufacturer of instruments and a distributor for reputable brands of electrical components. To commemorate this occasion, we reintroduced the Rudolf current transformer, a pioneer product in our entire product range.

In 2008, we also teamed with Socomec for a "Go Green Product Launch" which was held at the National Library Board. This event was to create awareness for the Green Mark Scheme for new buildings to be Green Mark certified through the provision of our sub-meters to monitor energy consumption of key building services and end-user / tenant energy usage.

During the year under review, we also intensified efforts to strengthen the branding of our Bridex and Rudolf range of metering products in the region and beefed up its presence overseas through our reliable channel distributors that were groomed with our hard work. We will continue to secure new opportunities for market penetration in countries such as Saudi Arabia and South Africa.

In view of the current economic climate, we will refocus our efforts on the retrofitting and AA (additions and alterations) market which we believe is still enjoying good demand.

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