JE Cleantech Holdings Ltd.
Maker of industrial cleaning systems and equipment, sold with related distribution services.
From the annual report
Recent Developments New Orders On March 30, 2026, we announced that, in the first quarter of 2026, our wholly-owned subsidiary, JCS, secured new orders totaling approximately US$12 million for precision cleaning systems from an existing customer. Barring any unforeseen circumstances, deliveries are expected to be carried out progressively over the next 12 months. 20 Purchase of Motor Vehicle On March 23, 2026, the members of the Board of Directors received an offer from our Chief Executive Officer, Ms. Hong Bee Yin, to sell her motor vehicle, a 2024 BMW 520i Mild Hybrid M-Sport, SCH3663P, (the Motor Vehicle ) to JCS for a purchase price of S$285,000, and for the Company to subsequently provide the Motor Vehicle to Ms. Hong for business and daily use, thus terminating the S$5,000 monthly car allowance being paid to Ms. Hong pursuant to her Amended Employment Agreement dated August 12, 2024 (the Employment Agreement ). The Audit Committee and Compensation Committee believe that the purchase of the Motor Vehicle and the provision of it for Ms. Hong’s use pursuant to her Employment Agreement will provide cost savings and be in the best interests of the Company and its shareholders. On March 30, 2026, JCS purchased the Motor Vehicle from Ms. Hong and the Employment Agreement was amended. See Item 6. Directors, Senior Management and Key Employees Employment Agreement with Executive Directors Employment Agreement with Ms. Hong Bee Yin on page 85, below.
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