We are now into the 2nd half of 2017 ; my small company has finally 'reinvented' itself and now we are well poised to chase sales and grow the business in the area of sports science. Some years ago I categorised the 5 core areas of my small business and the 'bread and butter' revenue is quite stable, thanks to a tepid (lukewarm) economy more people are hanging on to their old equipment rather than buying newer ones. Singapore is facing major challenges on many fronts
That being the case, there is much more activity in the 1. Repair and 2. Service segment of environmental equipment, so we are seeing a spike in orders from that segment. In addition, there has been a pickup in 3. Rentals and 4. Test Services, so lets hope the momentum can still be maintained for the second half of 2017. This segment is the 'bonus' segment, and while I am still adament on selling the stock equipment on hand, the revenue from rentals and test services is not insignificant.
New Market in Sports and Fitness Segment
Finally, I have ventured into making our own brand Singapore equipment, and with the sports sector opening up many more new opportunities, I am hopeful we will see 2 to 5 new orders in the near future to Sports Institutes, Universities and pharmaceutical industries in Australasia segment very soon.
The global economy continues to be sluggish, with weak oil prices and political uncertainties in US and Europe adding to the tepid outlook. Our open economy and business friendly Government is facing challenges from the region with neighbouring countries catching up on ports and ship repairs (Malacca, Tanjung Perlapas and Vietnam), our national airline is facing stiff competition from regional low cost carriers (SIA recorded its first every quarterly loss in its history) and casinos are springing up in Philippines and Vietnam to catch the booming Chinese tourist dollar.
The macro outlook is still pretty uncertain, in my opinion.
However, a silver lining has finally opened up after 2 plus years of hard slog and reinvention for my company regardless of the global situation.
I must thank my wife and family for seeing me through this mentally straining time.
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