BCA-annual 2022

ACCELERATING INDUSTRY
TRANSFORMATION
ANN UA L R E P O RT
20 21 / 20 22
CONTENTS
02 18
Corporate Governance Empowering Industry
Transformation
03
Chairman’s Message
36
Building Safety and
Regulatory Transformation
06
Board Members 46
Improving Liveability
08
BCA Organisation
Structure
50
Transforming Within
10
Emerging Stronger
54
Financial Statements
Cover photo credits:
Top Image – UOL Group Limited and United Tec Construction Pte Ltd,
Centre Image - Gammon, Right Image - City Developments Limited (CDL)
02 BUILDING AND CONSTRUCTION AUTHORITY
Corporate Governance
BCA is committed to good corporate governance. We have put

in place a Code of Corporate Governance which formalises the
principles and practices of governance within BCA to ensure
accountability, responsibility and transparency.
BOARD MEMBERS FINANCE AND AUDIT

The Board currently comprises 12 members.
All are non-executive members, except Mr Internal Controls
Kelvin Wong, who is BCA’s Chief Executive The Board ensures that the Management
Officer. There is a diverse representation from maintains a sound system of internal controls
the industry, academia and ministries, which to safeguard the interests and assets of BCA. It
provides a wide range of experience, skills, also ensures that reviews of BCA’s key internal
knowledge and perspectives to enable the Board controls in finance, operations and compliance
to play an active role in guiding BCA to achieve are conducted annually through internal and/or
its vision and mission. external audits according to the direction of the
Audit Committee.
The Chairman provides strategic leadership and
guidance to the Management of BCA, and Audit Committee
ensures that discussions are fairly, objectively The Audit Committee reviews the audited
and independently conducted. financial statements with external auditors, as
well as reviews the audit plans and observations
The Board meets no less than four times a year of the external and internal auditors. It also
to evaluate, approve and monitor the plans ensures that the Management takes appropriate
and budgets of BCA. It oversees the work and action for audit observations and the Audit
performance of the Management and assesses Committee’s recommendations. The Audit
the financial health of BCA. Committee also provides guidance for BCA’s
Fraud Reporting policy. All members in the Audit
The BCA Act empowers the Board to form Committee are non-executive members.
committees amongst its members to support
the work of the Board.
ANNUAL REPORT 2021/2022 03
Chairman’s Message
I thank industry stakeholders across the value chain

for their unwavering support as we emerge stronger
to realise a more resilient, future-ready sector.
It has been more than two years since our first EMERGING COLLECTIVELY FROM
encounter with COVID-19. Together with the COVID-19
nation, we have had to go through a learning This year, the gradual relaxation of COVID-19
curve adapting to the ever-evolving situation Safe Management Measures (SMM) has enabled
and measures, as well as a new way of life. worksites to resume at full capacity. However,
we are also mindful of the lessons learnt to
Our Built Environment sector was severely safeguard our sector against future outbreaks.
affected by disruptions caused by the
pandemic, but it is in a much better place In collaboration with Trade Associations and
today, picking up pace in its recovery to near Chambers (TACs), we have compiled a set of
pre-COVID levels. This would not have been SMM best practices in the form of a guidebook
possible if it were just BCA fighting this battle for our industry’s future reference. We have also
alone. I thank industry stakeholders across the updated the procurement policies for the sector
value chain for their unwavering support as we to ensure equitable risk sharing during pandemic
emerge stronger to realise a more resilient, outbreaks.
future-ready sector.
Avenue South
Residence’s topping
out ceremony
We also witnessed how strong alliances among and Facilities Management (FM), we have plans
industry stakeholders made it possible for to speed up industry transformation and
project teams to complete their construction champion an innovative, sustainable and
on time or with minimal delays, despite manpower-lean sector.
disruptions to manpower and materials
supply during this period. Projects that had Hence, we will be refreshing the ITM for the
progressive partners on board were able to sector with special focus on encouraging
operate at a higher level – even breaking new innovation and technology, a whole of value-chain
records amid such challenging times. A case approach to project procurement, planning and
in point would be Avenue South Residence, execution, and investing in our people. Given that
the world’s tallest Prefabricated Prefinished our buildings are ageing, we will also press on
Volumetric Construction (PPVC) residential with our efforts to change the way we maintain
building, which was on target to complete our buildings and transform the facilities
despite the disruption due to the pandemic. management industry.
GATHERING PACE IN INDUSTRY These transformation efforts offer the

TRANSFORMATION opportunity to redesign jobs and rebrand the
In the face of adversity, we found greater value sector to become more attractive to talent.
in transforming our sector. While we achieved BCA has also embarked on a study to help
steady progress on our Construction Industry the sector be more targeted in its workforce
Transformation Map (ITM) targets for Design development and to build a pipeline of talent to
for Manufacturing and Assembly (DfMA), Green enable our next phase of transformation. The
Buildings, Integrated Digital Delivery (IDD) study is expected to conclude by the end of 2022.
The transformation of the Built Environment sector

requires the collective effort of industry partners, firms
and individuals. We hope everyone is energised by the
transformation that is taking place around us and the career
opportunities, as well as all the developments that we are
contributing to make Singapore an endearing home.
TRANSFORMING BCA
BCA is also transforming. We have established
the BCA Digitalisation Masterplan, which will
be realised over the next few years. We also
upskilled our people and created meaningful jobs
via the newly launched Strategic Workforce Plan
and Built Environment Science and Technology
Plan. Collectively, these initiatives shape BCA
into a professional, high-tech and desired
employer of choice.
Using drone technology for PFI
We are grateful for the commitment displayed

REVAMPING OUR REGULATORY SYSTEM by all our stakeholders, partners and
As a regulatory authority, safety in our built employees during this challenging period.
environment is our top priority. We are constantly The transformation of the Built Environment
looking for ways to improve the efficiency and sector requires the collective effort of industry
effectiveness of our regulatory processes. partners, firms and individuals. We hope
everyone is energized by the transformation
In the past year, we rolled out the Periodic that is taking place around us and the career
Façade Inspection (PFI) regime to mitigate opportunities, as well as all the developments
façade-related safety incidents and also began that we are contributing to make Singapore
piloting Remote Monitoring & Diagnostics an endearing home. We look forward to your
(RM&D) to enhance the productivity of lift continued support as we transform for growth.
maintenance. We launched the accreditation
scheme for managing agents (MAs), thus raising
the professionalism of this sector. Meanwhile,
our development of the e-submission portal
CORENET X remains on track, following the
completion of pilot trials for the Collaboration
Platform and Automated Model Checker during Mr Lim Sim Seng
the year. Chairman
Board Members
(As at 1 April 2022)
1 2 3
4 5 6
7 8 9
10 11 12
1 / CHAIRMAN 7 / BOARD MEMBER

MR LIM SIM SENG ER. DR. LEE BEE WAH
Group Head Group Director
Consumer Banking & Meinhardt (Singapore) Pte Ltd
Wealth Management
DBS Bank Ltd 8 / BOARD MEMBER
MR JOHNNY LIM
2 / DEPUTY CHAIRMAN
ER. PROF. TAN THIAM SOON 9 / BOARD MEMBER
Institute Professor MR MAX LOH
Singapore Institute of Former Managing Partner
Technology Singapore & Brunei, Ernst &
Young LLP
3 / BOARD MEMBER
MR KELVIN WONG 10 / BOARD MEMBER
Chief Executive Officer MR MANOHAR KHIATANI
Building and Construction Senior Executive Director
Authority CapitaLand Limited
4 / BOARD MEMBER 11 / BOARD MEMBER

MS KALA ANANDARAJAH MR MOHAMAD SAIFUL
Partner BIN SARONI
Rajah & Tann LLP Partner
PricewaterhouseCoopers LLP
5 / BOARD MEMBER
AR. ANGELENE CHAN 12 / BOARD MEMBER
Chairman MR WONG HEANG FINE
DP Architects and its Group of Group CEO
Companies Surbana Jurong Private Limited
6 / BOARD MEMBER
MS JASMIN LAU
Deputy Secretary (Policy)
Ministry of Health
BCA Organisation Structure

(As at 1 July 2022)
MR KELVIN WONG
Chief Executive Officer
MR CHIN CHI LEONG MR NEO CHOON KEONG

Deputy CEO Deputy CEO
Building Control Industry Development
MR DARREN LIM AR. LEONG-KOK SU-MING

Group Director Managing Director
Audit & Inspection BCA Academy
ER. TAN CHUN YONG MR JONATHAN CHENG

Group Director Acting Group Director
Building Engineering Built Environment Research
& Innovation Institute
ER. CLEMENT TSENG

Group Director
MR ANG LIAN AIK
Building Plan & Management Group Director
Business Development
ER. THANABAL KALIANNAN

Group Director
MS ADELINE LOO
Building Resilience Group Director
Construction Productivity & Quality
MR TEO ORH HAI

Group Director
MR ANG KIAN SENG
Electrical & Mechanical Engineering Group Director
Environmental Sustainability
ER. CHEW KEAT CHUAN

Senior Technical Director ER. GRACE MUI
Group Director
Manpower Strategy & Planning
MR HENG TECK THAI MS JEANNA DAS

Deputy CEO Group Director
Communications & Engagement / BuildSG Office Corporate Development Group
Mr Jonathan Cheng MR TEO JING SIONG

Acting Group Director Group Director
Built Environment Technology Alliance Strategic Planning & Transformation
MR REGINALD WEE Legal

Group Director
Partnerships Engagement
Internal Audit
MS JEANNA DAS
Group Director
Strategic Communications
MR DEXTER TEO
Group Director
Strategic Engagement
CHAPTER 1
EMERGING
STRONGER
As we transit to a new normal, we glean
lessons from our COVID-19 experience to
bolster our resilience and fortitude. While
enhancing our processes and infrastructure,
we also equip industry stakeholders with
the necessary skills to ensure the Built
Environment sector emerges stronger
and better prepared for future pandemics.
Emerging Stronger
Keeping Worksites COVID-Safe Ensuring Safe Management Measures

(SMM) Compliance at Worksites
Amidst the ongoing pandemic, BCA engaged BCA developed a risk matrix to enable our BCA developed a risk
matrix for worksite
in vigilant surveillance to support quick engineers to focus more on at-risk sites
inspections which
containment of cases and ensured close during SMM worksite inspections. This also benefited the
communication with the Built Environment resulted in better industry preparedness and industry in terms of
sector. Through this, we safeguarded the health lower cases of non-compliance at worksites their preparedness and
lowering cases of non-
of workers while setting out new guidelines that by the end of 2021.
compliance at worksites.
will enhance our resilience and preparedness.
SMM WORKSITE INSPECTIONS

BY BCA IN 2021
Over
47,000
5,500 inspections at
construction sites
projects
BCA reviewed
policies to
enable the
industry
to respond
nimbly to
contain onsite
transmission.
Responding Nimbly to Contain Onsite

Transmission
BCA issued safety time outs (STOs) where
necessary to contain COVID-19 cases swiftly.
This helped the industry to break the chain
of transmission at the zonal level on site,
minimising disruptions to the whole worksite.
Amidst an evolving pandemic, we constantly
reviewed our policies, guided by the Ministry
of Health (MOH) and the lessons learnt from
COVID-19 cases at the worksite, to enhance the
containment processes.
Providing Timely COVID-related Updates

to Stakeholders
BCA equipped industry stakeholders with swift
updates on key COVID-19 information. As part
of our efforts to continuously educate industry
stakeholders on proper SMM, BCA conducted
numerous briefing sessions for SMOs and
disseminated information in a timely manner
through industry circulars, emails and Telegram
messages. We also partnered key Government
Procurement Entities (GPE), empowering them
to conduct their own checks to ensure their
projects were COVID-safe. Additionally, we
BCA provided
regularly held dialogues with key GPEs and
timely COVID-
Trade Associations and Chambers (TACs) to related updates
ensure the relevance of SMM requirements and through its
update them when necessary. Telegram channel.
Improving Preparedness for Future Transiting to a New Normal

Pandemics The Built Environment sector has
When the COVID situation eased, we followed witnessed the benefits of stronger worksite
MOH guidelines closely and calibrated our SMM management, worker safety and digitalisation,
requirements for construction sites. after emerging from the pandemic situation.
It has placed greater importance on the
From 15 March 2022, COVID-19 rules for the awareness and competencies in these areas,
construction sector were removed and all as most companies grew more adept in the
COVID-19 workplace requirements were set out requirements and best practices over the
in the Workplace Safety and Health (COVID-19 past two years. This will make a difference
Safe Workplace) Regulations 2021. We have in redesigning jobs and enhancing the
also started working with TACs to develop a professionalisation of our roles.
Good Practice Guidebook for pandemics.
A Good Practice Guidebook for pandemics was

being developed with TACs.
Most companies were

more adept in the SMM
requirements and best
practices over the
past two years of the
pandemic.
On-going development
of Good Practice
Guidebook to help guide
the Construction, Marine
Shipyard and Process
(CMP) sector to be ready
for future pandemics.
Facilitating a
COVID-Safe Restart
In supporting the Built Environment sector to restart works in a controlled manner,

BCA conducted COVID-response training and developed COVID-safe outreach programmes.
COVID-Response Training COVID-Safe Outreach Programmes

We conducted training for on- and off-site Antigen Rapid On the education front, BCA continued our efforts to engage
Testing (ART) supervisors, as well as SMOs and Safe the industry. Working hand in glove with MOM and TACs, we
Distancing Officers (SDOs) in partnership with the Ministry engaged different stakeholders and conducted a series of
of Manpower (MOM), MOH and other related agencies. COVID-Safe leadership and industry webinars that catered
Besides supporting the enhanced testing regime at high- to different stakeholders.
risk environments, these efforts ensured that SMM were
effectively implemented at locations ranging from worksites
to workers’ accommodation.
Trained over Conducted COVID-Safe
15,400 outreach webinars,

engaging
7,700
ART supervisors
industry
professionals
ART supervision training was conducted to ensure SMM

were effectively implemented in the industry.
Sustaining Capacity and tranches of ex-gratia extension of time (EOT)

Transformation for government projects were established.
Interim Support Measures to Ease Revamping Procurement Policies

Pandemic Pressures BCA also revamped existing procurement
To ease time and cost pressures faced by policies. The Public Sector Standard
OVER
the industry amidst the pandemic, BCA Conditions of Contract (PSSCOC) and
$230 introduced the COVID-19 (Temporary Measures)
Act (COTMA) Part 10A legislation, allowing
Consultancy Agreement received new
pandemic-related provisions that support
MILLION
additional payments contractors to seek a determination from fairer cost sharing amongst the stakeholders.
provided by public an Assessor for manpower cost increases. More broadly, the sector now recognises the
agencies for BCA also introduced ex-gratia payment for need for more collaborative and risk-sharing
prolongation and consultants for additional services rendered terms in order to emerge stronger together
increased manpower
due to project extensions. In total, three through future uncertainties.
costs as of end-
March 2022
Strengthening Supply
Chain Resilience
Ensuring Sustained Supply of Redesigning Foreign Worker Dormitories

Construction Materials to Safeguard Against Future Outbreaks
Despite the uncertainty due to border measures, During the year, BCA worked with relevant The Sengkang West Quick
there was no disruption to concrete production ministries and government agencies to future- Build Dormitory was
built based on the new
as our suppliers import the aggregates from proof migrant worker dormitories. In September
standards to future-proof
diversified sources. As an industry, we also 2021, the new standards for dormitories were worker dormitories.
successfully increased the adoption of granite announced and we witnessed the completion
fines as an alternative to sand. of Sengkang West Quick Build Dormitory that
was built based on the new standards in the
Meanwhile, plans are underway to develop our same year.
first Integrated Construction Park, which will
co-locate synergistic construction activities,
such as the import of construction aggregates,
concrete production and precast concrete related
works, for greater efficiency.
• Sufficient bed • Safeguarding public
spaces health
• Better living • Buffer against

standards future pandemics
2021
2019 80%
50%
Increased industry
adoption of granite fines
Facilitating the Inflow of for construction work permit holders using

Migrant Workers smart-wear technology, such as smart-glasses
As the pandemic evolved in 2021, BCA worked and surveillance cameras. These allowed BCA’s
alongside relevant government agencies and assessors to invigilate the test remotely while
industry partners on a series of measures to upholding the same standards. Live video About
facilitate the supply of foreign manpower to
construction companies. These policies were
broadcasts via smart glasses also enabled the
assessors to view and mark close-ups of the
12,000
workers attended
regularly adjusted in tandem with the fluid completed test projects from various angles. skills tests conducted
situation. via RIM in FY2021
Since April 2021, OTCs in the PRC, India,
More than 4,000 workers from the People’s Bangladesh, Thailand and Myanmar have BCA worked with OTCs
Republic of China (PRC) entered Singapore via a implemented RIM and resumed testing new to implement remote
temporary scheme that allowed migrant workers workers once movement restrictions in their invigilation and testing
to obtain their skills certification in Singapore. countries were lifted. for construction
work permit holders
The scheme was introduced due to a restriction using smart-wear
on arrivals from higher risk countries in May 2021. technology.
At the same time, over 33,000 Construction,

Marine Shipyard and Process (CMP) workers
were brought in from higher risk countries via
an industry-led initiative that involved a testing
regime over a period at dedicated on-boarding Centre representitives wearing
Smart glasses
facilities in their home countries followed by smart glasses to communicate
with BCA testers
dedicated transport to Singapore. When the
COVID-19 situation improved, this was reduced
to a two-day Pre-Departure Preparatory
Programme (PDPP) that saved time and costs.
Improving Efficiency at Overseas

Testing Centres
Amidst COVID-19 disruptions at Overseas Testing
Centres (OTCs), BCA worked with the centres to Pan-Tilt-Zoom (PTZ)
Smart glasses
implement remote invigilation and testing (RIM)
Improving Building Ventilation
Recognising the importance of ventilation

and indoor air quality in buildings to prevent
the spread of COVID-19, an inter-agency team,
comprising BCA, National Environment Agency
(NEA) and MOH, updated the Technical Guidance
Note to building owners and facilities managers
on improving air-conditioning and mechanical
ventilation (ACMV) standards. The guidelines
The public and private
were widely adopted by both the public and
sectors adopted the
private sectors, and serve to safeguard building guidelines on improving
occupants against future pandemics. ACMV standards.
CHAPTER 2
EMPOWERING
INDUSTRY
TRANSFORMATION
Our quest to drive industry transformation
involves a holistic, multi-faceted approach
– from harnessing new technologies and methods
of construction, to engaging our partners and
supporting innovative projects that address
industry challenges. Together, our eﬀorts ignite
transformative change across the Built
Environment sector as we move from strength
to strength.
Empowering Industry
Transformation
Progress in Key Transformation

Areas Around
44%
DfMA reduces
Making Design for Manufacturing and disamenities and reliance
of building on manpower on site by
Assembly (DfMA) Mainstream
projects by gross prefabricating building
DfMA is a key pillar of the Construction Industry modules off-site. The
floor area (GFA)
Transformation Map (ITM), through which modules are then brought
adopted DfMA in
we advance our transformation plans for a to the site to be stacked.
2021
more productive Built Environment sector.
Comprising technologies across Structural,
Architectural and Mechanical, Electrical BCA is on
and Plumbing (MEP) work disciplines, DfMA track to meet
facilitates the prefabrication of building 44%
Target
70%
the adoption
39%
modules off-site in a controlled environment. 31% target of
70%
19% 22%
2017 2018 2019 2020 2021 ... 2025
by 2025
Raising Industry Capabilities in DfMA

With inputs from the industry, we developed
KEY CHANGES TO THE an Advisory on Good Practices for the
BUILDABILITY LEGISLATIVE Design, Inspection and Maintenance of Mass
FRAMEWORK Engineered Timber (MET) Structures to level
up industry capabilities, maintain high safety
standards and ensure the sector leverages the
full potential of MET.
We also partnered Specialists Trade Alliance

of Singapore (STAS) to release a new edition of
the Prefabricated MEP guidebook to enhance
industry knowledge in this area. In addition,
the BCA Academy also developed training
Higher minimum Buildable courses with STAS to build such competencies
Design Scores (B-Score) in the industry.
for large non-residential projects
Paving the Way through Industry
Digitalisation
Greater flexibility with enhanced
outcome-based options Productivity Innovation Project (PIP) Incentive
in lieu of meeting the minimum B-Score Scheme for Integrated Digital Delivery (IDD)
The PIP-IDD scheme helped projects adopt a
common data environment (CDE), as well as
Mandatory adoption of specific suitable digital solutions and data standards
industry standard components needed for IDD implementation. With these
for residential non-landed projects to in place, BCA and the industry jointly defined
drive greater modularisation relevant IDD skillsets under the BE SkillsFuture
Framework as we broadened its application and
enhanced the industry’s capabilities in this area.
Enhancing the Buildability Legislative

Framework for Greater DfMA Adoption PIP-IDD involving
In consultation with key industry stakeholders, funded
BCA further enhanced the Buildability
Legislative Framework to raise the minimum 30 150
firms
projects
standards for large non-residential projects with
a GFA of at least 25,000 sqm. From April 2022, all
large projects will be required to adopt DfMA
or a higher level of prefabrication under the Construction and Facilities Management
revised framework. Industry Digital Plan (IDP)
In partnership with IMDA and the industry, the
Driving Adoption of Best-in-Class Productivity IDP was developed to help small and medium
Solutions enterprises (SMEs) go digital.
From 2022, BCA raised standards for the
Government Land Sales (GLS) programme. To make it easy for SMEs to adopt digital
The productivity requirements include solutions recommended in the IDP, a list of pre-
adoption of prefabricated MEP systems, higher approved solutions was identified. This narrows
productivity improvement and prefabrication the capability gap between small and large firms
levels across structural, architectural and and provides the former with more opportunities
MEP disciplines. to plug into the IDD ecosystem.
Developing Sustainably
Singapore Green Building Masterplan

With an eye on shaping a greener future, BCA strives to develop more ambitious sustainability
targets, while decarbonising our built environment. Following the launch of the fourth edition
of the Singapore Green Building Masterplan (SGBMP). BCA implemented several initiatives to
support the three key outcomes, which carries the tagline “80-80-80 in 2030”.
1ST SGBMP KEY OUTCOME 2ND SGBMP KEY OUTCOME 3RD SGBMP KEY OUTCOME
80%
of Singapore’s buildings to be
80%
of new developments by GFA
80%
improvement in energy efficiency
green by GFA by 2030 to be Super Low Energy (SLE) over 2005 levels for best-in-class
buildings from 2030 green buildings by 2030
CURRENT PROGRESS AS OF MARCH 2022
More than Close to Best-in-class buildings
49% 7%
achieved
of Singapore’s buildings
by GFA have been
of new developments by GFA
were certified as SLE buildings
70%
improvement in energy
greened efficiency compared to
From 1 April to 30 September 2005 levels
2021, a total of
54
SLE projects involving
98
Built environment firms, including
developers, architects,
Mechanical/Electrical (ME) and
Environmental Sustainable Design
(ESD) consultants
BCA’S INITIATIVES TO SUPPORT SGBMP OUTCOMES
Green Mark Incentive Built Environment Transformation GFA Funding for Research
Scheme Incentive Scheme and Innovation
• BCA announced the Green • BCA and URA launched the Built Environment • BCA will provide additional
Mark Incentive Scheme for Transformation GFA Incentive Scheme on 24 funding of $45 million for the
Existing Buildings 2.0 (GMIS- November 2021. Green Buildings Innovation
EB 2.0) in March 2022 to help Cluster Programme (GBIC)
building owners lower the • Developers of private projects with a minimum to expand the boundaries of
upfront capital cost of 5,000 sqm GFA can enjoy up to 3% bonus GFA energy efficiency.
energy efficiency retrofits. beyond the Master Plan Gross Plot Ratio (GPR)
if they achieve enhanced standards in: • The key research areas under
• Higher funding is available Sustainability – attain Green Mark Platinum the enhanced programme
for existing buildings that SLE with Maintainability (Mt) badge; (GBIC 2.0) include:
are striving for higher energy Productivity – adopt DfMA technologies or – developing data-driven
performance certification, prefabrication level across structural, smart building systems;
such as Green Mark Platinum, architectural and MEP disciplines with higher – alternative cooling
SLE Building and Zero Energy level of productivity improvement; and technologies; and
Building. Digitalisation – adopt at least five IDD essential – advanced ventilation
use cases across the building lifecycle technologies.
• The $63 million incentive
scheme is expected to • Developers of GLS sites that are launched prior to • BCA will accelerate the
generate energy savings of 31 March 2022 would also be eligible for up to 2% commercialisation of these
over 250 GWh/year by 2030 bonus GFA beyond the masterplan GPR. solutions through industry
– equivalent to the energy partnerships.
consumption of more than Enhanced Requirements for Sites Sold Under
55,000 four-room flats. • From 2014 to 2021, GBIC
the GLS Programme
supported the development
• From 2Q 2022, BCA has raised the requirements of over 60 innovative
for new GLS sites to: technologies from more than
– require a minimum level of use of DfMA 50 companies.
technologies and prefabrication across all
disciplines of work;
– require the adoption of IDD;
– require a higher Green Mark Certification
Standard of Green Mark Platinum SLE; and
– attain Quality Mark (QM) for Good Workmanship
for residential sites or the residential
component in mixed developments.
GreenGov.SG other important sustainability outcomes,

Under the GreenGov.SG initiative, the from designing for maintainability, to reducing
government aims to peak its carbon emissions carbon emissions across a building’s life cycle
around 2025, ahead of the national target. and creating healthier environments for
Alongside this, the public sector will take the building users.
lead in making SLE buildings mainstream.
This includes driving greater demand for SLE Additionally, BCA incorporated the
buildings, developing use cases and improving Maintainability and Intelligence Badge
industry capabilities to construct these under GM:2021 to encourage developers
buildings. to demonstrate Design for Maintainability
(DfM) considerations in the design of their
Green Mark 2021 (GM:2021) developments and utilise Smart Facilities
BCA updated the Green Mark Scheme to raise Management (FM) technologies to optimise
energy performance standards and emphasise building management.
GREENGOV.SG’S SUSTAINABILITY TARGETS

FOR PUBLIC SECTOR BUILDINGS
All new and existing public sector All new and existing public sector
buildings (upon major retrofit) to buildings (upon Additions &
achieve Green Mark Platinum Alterations) to
SLE standards achieve the Mt Badge
standard
Government data centres to

achieve the Green Mark All public sector buildings with
Platinum standard by 2025 GFA exceeding 5,000 m2 to
adopt at least one Smart FM
solution by 2030
Accelerating Transformation
in the FM Sector
The tripartite Facilities Management

Implementation Committee (FMIC) supported
BCA in partnering industry stakeholders
and driving transformation in the FM sector.
Together with the committee, we implemented
several industry standards and worked with
the industry to raise awareness and encourage
acceptance of initiatives in the areas of process,
technology and people.
Process
In September 2021, we unveiled GM:2021. Featuring
the Maintainability Section, it encourages
developers and designers to incorporate DfM
and Smart FM considerations into their designs
to optimise maintenance regimes downstream.
These requirements were successfully trialled in
30 buildings prior to the launch.
In January 2021, we launched the Guide on FM

Procurement to aid building owners and FM
companies (FMCs) in ensuring quality delivery,
achieving outcome-based procurement and
obtaining Integrated Facilities Management
(IFM) services.
Senior Minister of State (SMS) Tan Kiat How launched

the Certified Facilities Management Expert (CFME)
accreditation scheme at the Facilities Management
Expert Summit (FMES) 2021.
Technology Smart FM technologies that facilitate the delivery

As part of our push for higher IFM and Aggregated of IFM and AFM. The projects aim to establish a
Facilities Management (AFM) adoption, BCA business case for IFM and AFM solutions that can
encouraged companies to employ Smart FM be scaled up and replicated across other portfolios
15%
of public sector
solutions that integrate multiple operating systems
and processes. The addition of the Intelligence
in the industry.
buildings by GFA Section under GM:2021 helped them to harness At the Committee of Supply (COS) 2022, we
adopted Smart FM as Smart FM technologies, systems and processes announced the $30 million IFM and AFM grant which
of December 2021 as well as data analytics to improve building was set up to assist the industry in embracing
management and performance. IFM and AFM as well as building FM stakeholders
with DfM, Smart FM and IFM/AFM contracting
2
projects awarded
In April 2021, two projects were awarded the Smart
FM Proof-of-Concept (PoC) grant, which supported
capabilities. The grant will be open for application
from September 2022 to March 2025.
the Smart FM
PoC grant
People Management Association (SIFMA) to launch two

BCA co-developed accreditation schemes with of their new schemes – the Certified Facilities
the FMIC to raise the standards of FMCs and FM Management Company (CFMC) Accreditation
personnel and support them towards attaining Scheme and the Certified Facilities Management
higher value roles in the industry. In 2021, we Expert (CFME) Accreditation Scheme.
supported the Singapore International Facility
SCHEME LAUNCH DATE OBJECTIVE RESULT
CFMC July 2021 Provide professional recognition for 24 FMCs have been accredited as
ACCREDITATION FMCs who have enhanced their of March 2022.
SCHEME FM services.
CFME December 2021 Provide professional recognition 12 FM professionals have been

ACCREDITATION for FM professionals capable of accredited as of March 2022.
SCHEME supporting key FM transformation
areas (e.g. DfM, Smart FM and
IFM/AFM).
The BE S&T
plan guided our
push for greater
innovation and use of
technology, such as
the smart inspection
robot to track
work progress at
construction sites.
Enabling Transformation through Formation of Robotics & Automation

Innovation Implementation Committee (RAIC)
In April 2021, we formed the RAIC, which included
Built Environment Science and Technology members from over 15 agencies. The RAIC is led
(BE S&T) by BCA and Jurong Town Corporation (JTC).
The BE S&T plan guided our push for
greater innovation and use of technology. During the year, the RAIC formed three inter-
In consultation with research partners and agency project teams to lead the adoption of
industry stakeholders, we formulated two drones for Periodic Facade Inspection (PFI),
roadmaps – the Built Environment Robotics & floor cleaning robots and material transporter
Automation Roadmap and an Advanced Materials robots. Notable initiatives include developing
for the Built Environment Roadmap which procurement guides to aid agencies in specifying
identified areas where Research and Innovation requirements and assessing solutions during
(R&I) investments should be channelled future tenders for PFI drone and floor cleaning
for the deployment the deployment of new robot services.
technologies.
Under the Research, Innovation and Enterprise

2025 Plan, we injected another $46 million
into the Cities of Tomorrow Research and
Development (R&D) programme to sustain our
longer-term R&I efforts in the areas of advanced
construction and facilities management.
Adopting a Whole-of-Government Approach

Together with other agencies, BCA provided
opportunities for innovators to develop and BEAMP CYCLE 3
showcase creative solutions to solve real-life
challenges faced by the Built Environment
sector.
One of which was BCA and Infocomm Media 23

challenge
25
participating
Development Authority (IMDA)’s call for proposals
for integrated robotics and automation solutions. statements industry
The aim was to have cost efficient and scalable firms
solutions to improve productivity and reduce
labour dependency, as well as improve safety at Received Awarded
worksites. More than 20 proposals were received
from solution providers. 66
proposals from
10
Accelerate Solution
innovators Development (ASD)
Another initiative was BCA-Enterprise Singapore
proposals
(ESG)-IMDA’s Built Environment Accelerate- Awarded
to-Market Programme (BEAMP), which saw its
third cycle in 2021. The programme supported 1
Market Development
promising home-grown innovators as they
(MD) Proposal
worked with industry partners to design
innovative solutions in areas ranging from
remote monitoring of construction progress,
to automating inspections and 3D printing
of bespoke building components. Partnering Industry Firms and Institutes of
Higher Learning (IHLs)
Following BEAMP, we had Built Environment (BE) BCA’s Built Environment Technology Alliance
Demo Day, which was organised together with (BETA) is a long-term effort to foster industry-
ESG, JTC and our accelerator partner, Padang & led R&I investments, build local capabilities and
Co. Promising innovators presented their ideas translate outcomes for commercialisation and
to corporates and investors in the ecosystem. export. In the past year, several progressive firms
Innovations in sustainability, robotics, committed resources and pursued promising
automation and other digital solutions were technological advancements by undertaking
featured at the International Built Environment R&I projects, and received support from BETA’s
Week (IBEW) in 2021. Catalyst funding programme.
PROJECT PROJECT PARTIES INDUSTRY IMPACT AND TRANSFORMATION
INNOVATIVE Singapore Institute of The project seeks to develop an ensemble of underground construction
CONSTRUCTION Technology (SIT), Woh technologies – by combining research in inter-related areas to bring
TECHNOLOGIES FOR Hup (Private Limited), about a system-level productivity improvement in deep foundation and
DEEP FOUNDATION SEN SG Pte Ltd, TTJ excavation works.
AND EXCAVATION Design and Engineering
Pte Ltd, NatSteel
Holdings Pte Ltd
ARTIFICIAL Pan-United Concrete The project seeks to develop a system that uses sensors on mixer trucks
INTELLIGENCE Pte Ltd to collect real-time data and measure concrete workability from the point
FOR MIXING (AIM) concrete is loaded onto the truck, and up to the point when concrete is
discharged at the project site for use. The system will also be able to adjust
the concrete mix to meet concrete workability requirements by adding
water/admixtures to the concrete mix during transit.
Empowering Transformation through Supporting Mid-Career Conversions

Manpower Development
Building Our Talent Pipeline
iBuildSG Built Environment Formation

Programme (iBEFP)
In FY2021, BCA conducted eight runs of iBEFP to
help students gain a better understanding of the
work in the Built Environment sector. It attracted
667 interns from the eight Institutes of IHLs, a
230
Career Conversion Programme (CCP)-
50% increase from the previous year. Hailing trained mid-careerists were hired by
from multiple disciplines, including architecture, Built Environment firms in 2021
civil and environmental engineering and facilities
management, the interns engaged in training
workshops, learning journeys and simulation
exercises, and discovered more about ITM.
During the year, four IHLs included iBEFP as a Over

compulsory part of their curriculum. In light of
the plan for IHLs to run the iBEFP from FY2024, 60
mid-career entrants enrolled
they will increasingly be more involved in the co-
in the SGUnited Skills (SGUS)
creation and co-facilitation of the programme diploma in IDD and Sustainable
with BCA Academy. The iBEFP aims to benefit Building in FY2021
about 2,500 interns by 2025.
BCA worked with Workforce Singapore (WSG) and

training providers to develop CCPs to equip mid
careerists with the right skillsets to join the Built
Environment sector.
During the year, the SIFMA and Singapore

National Employers Federation (SNEF) launched
two new programmes for FM Specialists
(Technician) and Construction Supervisors Built
Since 2019, the iBEFP
has inspired over Environment Professionals.
1,500
students from
In August 2021, Singapore Contractors
Association Limited (SCAL) unveiled the upgraded
eight IHLs CCP for Building Information Modelling (BIM)
professionals that better supports
industry needs.
Working with SkillsFuture Singapore (SSG),

BCA tapped the SGUS programme to offer
local jobseekers career matching services and
training opportunities. These were carried out
in collaboration with Trade Associations and
Chambers (TACs) and industry firms.
Upskilling for Future Roles in the Industry
Trained over
881 More than
27,000
industry professionals
students graduated
from BCA’s diploma
600
public service officers from
and practitioners and Specialist Diploma 11 processing agencies
programmes have received CORENET X
Clocked more than training since 2019
46,000
training hours
230
students graduated from
the Built Environment-
Conducted over related degree programmes
150
conducted in partnership
with universities
training
programmes
Source: BCA Academy
A vital part of industry transformation lies in The academy also trained 6,400 participants in
upskilling and deep skilling professionals to meet the key areas under the ITM. To meet the rising
emerging job requirements. Over the financial demand for crane operators and plumbers,
year, the BCA Academy (BCAA) conducted 172 we doubled the training capacity to equip more
Continuing Education and Training courses locals with the necessary skillset for these
and 33 academic programmes related to BCA’s core technician-level trades.
regulatory policies and initiatives.
Introductory
webinar on
CORENET X.
Targeting new entrants, the BCAA academic programmes armed graduates with in-demand
knowledge and skills to prepare them for good employment opportunities, with the majority receiving
job offers within six months of graduation.
TARGET New entrants and in-service personnel Public sector officers

GROUP
AIM • Facilitate upskilling and provide • Deepen core competencies

clear pathways to attain the skillsets and sustain transformation
needed for career progression and
accreditation
ACHIEVEMENT • Mapped over 160 BCAA Skill-up and • Developed CORENET X

Move-in programmes to the Skills capabilities to facilitate
Framework for the Built Environment coordinated reviews by
regulatory agencies and
• Rolled out new and revamped achieve greater productivity
industry-relevant Professional for the sector
Conversion Programmes (PCP) in
partnership with TACs
Majority of the
graduates from
BCAA received
job offers within
six months of
graduation.
Attracting More Locals to the Workforce Certificate of Competency in Escalator

Specialists
Enhanced Progressive Wage Model for Lift Together with the Institute of Technical
and Escalator Industry Education (ITE), BCA mapped out the Technical
The Tripartite Cluster for Lift & Escalator Skills and Competencies (TSC) for escalator
(TCLE) released a set of recommendations specialists and launched the Certificate
in mid-2021. This included the extension of of Competency (CoC) course for Escalator
the Progressive Wage Model (PWM) to cover Specialists in March 2022 to upskill and equip
escalator maintenance technicians and the wage the workforce. This course is an addition to
revision plan from 2023. Key firms which have the CoC in Lift and Escalator maintenance
committed to adopt the PWM have since raised programmes offered by ITE for various
the basic salaries of technicians to BCA’s 2021 competency levels.
transitional wage target and experienced a rise
in the number of local technicians.
BCA-Industry iBuildSG Scholarship and

Sponsorship Programmes
With strong participation from the industry,
200 scholarships and sponsorships were
awarded to post-secondary students who
were enrolled in Built Environment related-
courses in 2021.
BCA and industry partners Amassed a young talent

awarded almost pool comprising
200
scholarships and
3,900
individuals since 2010
sponsorships to post-
secondary students enrolled
Close to
in Built Environment related
courses in 2021
400
firms offered scholarships
and sponsorships to
students over the years
Partnerships and Industry

Engagement
KEY STATISTICS
Celebrating Achievements and Sparking
Conversations
More than IBEW 2021 BCA Awards
Our journey towards a more sustainable,
4,000
showcased 2021 featured
58 99
resilient and robust built environment is
fuelled by two key events – the International industry
Built Environment Week (IBEW) and the professionals exhibitors and winners
BCA Awards. The 2021 edition of the IBEW from over featured over across
was themed “Re-imagining the Future” and
focused on the industry growth potential for
46
countries
250
solutions via
7
award
transformation. Together, the events sparked participated in the virtual trade categories
insightful conversations within the industry, the digital IBEW shows
while generating opportunities for enterprise
development and business collaborations.
At the same time, they spurred companies
to drive growth and competitiveness though
technology and innovation.
Inspiring Leaders of Tomorrow

In FY2021, we organised our first Leadership
Engagement and Development (LEAD) Summit,
which discussed ways to lead the next wave of
transformation and the role of leadership as
we shape the built environment ecosystem.
In addition, we held a series of large-scale
forums and conversations with Distinguished
Fellows as well as LEAD Horizon and Milestone
programmes – all of which served to encourage
dialogue, forge collaboration and inspire
future leaders.
The Inaugural
BuildSG
Over Continually LEAD Summit
1,200
engaged over 2021 discussed
2,000
about the role
industry leaders from of leadership
and leading the
the public and private leaders in the LEAD
next wave of
sectors attended the community to facilitate
transformation.
inaugural BuildSG LEAD industry alignment and
Summit 2021. exchanges throughout
the year.
Strengthening
Overseas Branding
The COVID-19 pandemic disrupted travel plans and opportunities for overseas
ventures. However, during this period, BCA continued to strengthen our local
firms’ overseas branding through their Green Mark projects and green capabilities.
By maintaining strong relations with regional governments and using IBEW as a
platform to exemplify the capabilities of Singapore companies, we were able to
facilitate overseas market opportunities for our local firms.
GREEN MARK INTERNATIONAL

BRAND RELATIONS
Offered Coordinated with ministries
21
and government agencies on
overseas Green Mark

contracts in
67
overseas-related requests
8
countries Represented Singapore in
the Building & Construction
Work Group under the
Combined contract ASEAN CONSULTATIVE
value of COMMITTEE
$568,000 on Standards and Quality
Proposed
8
Involved
a total of
18
Singaporean
International Standards
Organisation (ISO)
standards which were
firms accepted by member states
Strong
partnerships are
key to enable firms
to collectively
transform and
emerge stronger.
Fostering Partnerships with Key TACs We also organised industry engagement sessions
TACs are our key points of contact as we ignite to better communicate our policies and drive
transformation and help the Built Environment discussions on industry transformation. Group
sector emerge stronger. Together, we shaped dialogue sessions or visits to progressive firms
initiatives and proposals with ITM outcomes in were organised across various stakeholders,
mind and achieve win-win solutions. including developers, builders, consultants and
even young leaders of the Built Environment
The Real Estate Developers’ Association of sector. This enabled us to gain industry buy-in
Singapore (REDAS), STAS and Society of Project and collect real-time industry feedback to further
Managers (SPM) have tapped on the Local refine our policies.
Enterprise and Association Development (LEAD)
programme to implement initiatives that benefit
and uplift the industry.
CHAPTER 3
BUILDING SAFETY
AND REGULATORY
TRANSFORMATION
As a regulatory authority, safety is of paramount
importance to us. We are constantly challenging
ourselves to improve by enhancing regulatory
standards to safeguard the well-being of the
public and the Built Environment workforce, while
keeping abreast with the latest technological
advancements.
Building Safety and

Regulatory Transformation
Drones enable greater

efficiency and accuracy
in the visual inspection
of façades at height via
high- definition visuals.
Ensuring Building Safety early, enabling them to rectify identified

issues in their building façades in a timely
Formalising Façade Inspections manner. Through this, the risk of fallen façade
BCA took a pre-emptive approach to prevent elements injuring the public can be reduced
falling façade elements by implementing the systematically.
Periodic Façade Inspection (PFI) regime in
January 2022. Targeting an 80% reduction in A suite of info-packs including PFI Guidelines
façade safety incidents, it requires buildings for CPs, Infographics and advisories were
above 20 years old and taller than 13 metres to disseminated to our stakeholders to keep
undergo visual and representative close-range them informed of the new regime. This is on Scan here to visit
façade inspections by Competent Persons (CP) top of the numerous targeted and continuous BCA’s website for
more information
every seven years. This regime assists building engagements held with stakeholders
on the PFI regime.
owners in detecting any façade deterioration since 2017.
BCA conducted
an Internal
Service Journey
in July 2021 to
understand users’
pain points on
site inspections.
Promoting Smart Site Inspections Maintaining Safety with Remote

In 2021, BCA conducted a series of service Supervision
journey exercises and amalgamated key As the industry adopts remote site supervision
audit and inspection works across BCA to of local and overseas fabrication yards and
streamline site inspection processes. construction sites by Qualified Persons (QPs) and
The aim was to achieve greater efficiency in site supervisors, BCA developed the Guidebook
site inspections and raise the professionalism for Remote Supervision (Structural Works) in
of the industry by leveraging data and October 2021 to share good practices and uphold
technologies for Smart Inspection. the quality of remote supervision.
Worker with a camera strapped to his helmet Steel structure in India’s fabrication yard
BCA shared good

industry practices in a
guidebook so that the
industry can uphold
the quality of remote
supervision for local and
overseas. fabrication
Checking of frames in a in Building Information Modelling (BIM) model in Singapore
and construction sites.
DIGITAL REMOTE PROOF OF TEST

(DRPOT) SYSTEM
DPROT is a smart, automated system created for the remote supervision of Civil Defence (CD)
anchor bolt proof load tests. It improves time and manpower efficiency by 30%, as it reduces
the number of standing witnesses on site and streamlines the post-inspection documentation
processes. The integrated system supports:
Pre-scheduling Real-time Inspection Remote sign-off of

supervision construction works
First conceived in 2018, the development process culminated with the launch of the Guidebook for
Remote Supervision (Structural Works).
Guarding against Sea Level Rise

Before and after rectification works to the seawall along
BCA will work with the PUB, Singapore’s National Woodlands Waterfront Promenade.
Water Agency (PUB) on the maintenance and
upgrading of foreshore structures to guard
against sea level rise, in line with its long-term
Coastal Protection Master Plan.
As one of the government agencies responsible

for maintaining jetties and foreshore structures,
BCA inspected those that are under our
care, and carried out major repair works at
Labrador Nature Reserve, Woodlands Jetty
and Woodlands Promenade. The year also saw
Before
the award of a multi-disciplinary consultancy
contract for the reconstruction of a revetment
at Pulau Punggol Timor.
After
Enhancing Regulation Standards
Improving Safety of Underground Works

On 1 June 2021, BCA launched the Framework
on Performance Based Impact Assessment
Associated with Earth Retaining or Stabilising
Structures (ERSS) and Tunnelling Works.
The Framework allows for higher building
settlement limits provided the QP performs a
rigorous analysis of potential building movements
resulting from excavation or tunnelling works
with detailed building modelling. This assessment
must also achieve the same performance
objective of zero structural damage.
Regulations for Fixed Installations

(e.g. lifts, escalators and mechanised car The Performance-based Impact Assessment Framework associated with
parking systems) ERSS and tunnelling works ensures that safety of underground works is
The upcoming revised Building Control (BC) achieved while QPs are allowed higher
Regulations for fixed installations leverage plan

submissions and product testing to tighten
upstream controls during design and installation,
while enhancing the contractors’ registration
requirements, including the introduction of
mandatory progressive wage model (PWM)
applications.
Upholding Maintenance Regimes of

Amusement Parks
Every class of amusement rides now has a
clear set of maintenance outcomes, which
will be progressively introduced into the
ride maintenance manual to ensure that
A set of maintenance outcomes will be included in the manual so that
operators uphold comprehensive and effective amusement ride operators can uphold an effective maintenance regime
maintenance regimes. and ensure safety.
Improving Understanding of Safety

Requirements
To improve contractors’ understanding
of the maintenance requirements,
BCA developed:
• Guidebook on Plans Submission for
Fixed Installations;
• Good Practices Guide for Lift Owners; and
• Lift Maintenance Outcomes Guidebook.
BCA is working with industry partners to

develop a Maintenance Control Plan (MCP)
guidebook, which details the replacement
criteria of major safety critical parts.
Scan here to
download a copy of
the Good Practices
Guide for Lift Owners
GOOD PRACTICE GUIDE FOR DESIGN, INSTALLATION

AND MAINTENANCE OF BUILDING FIXTURES
The Good Practice Guide for Design, Installation

and Maintenance of Building Fixtures was
developed for building owners, managing agents
and professionals. It guides them in ensuring the
durability of building fixtures, especially those in
public spaces and at the building periphery, which
are generally more prone to deterioration due to
weathering effects.
Scan here to download
a copy of the Good
Practice Guide for
Design, Installation and
Maintenance of Building
Fixtures
Leveraging Technology for Better

Productivity
Driving Façade Inspections with PROJECT MILESTONES

Technology
Harnessing innovative technologies, including The Gov-PACT project grant call
drones and AI, BCA developed a technology- completed in August 2021 resulted in
enabled and AI-integrated smart drone
inspection ecosystem to raise productivity 5 drone companies
and ensure sustainability within the façade developing their own
inspection industry. AI-equipped smart drone
inspection systems
The smart drone inspection systems are
capable of producing 3D building models, They are now providing inspection
geo-tagged images, automated defect services to the industry at
detection and privacy anonymisation. competitive rates.
Inspection reports are also automatically

generated for ease of documentation and Collaborated with Enterprise
submission. Singapore (ESG) and industry partners
to develop the
TR78-1:2020 and TR78-2:2021

technical references
for building façade inspections using
Unmanned Aircraft Systems (UAS).
Collaborated with Trade

Associations and Chambers (TACs)
to design training programmes for
CPs and Façade Inspectors (FIs).
An adequate number of inspection
personnel, comprising
more than 75 CPs and

150 FIs, were trained
prior to the launch of the PFI
regime in January 2022.
Analysing Geological Conditions Digitally

On 1 October 2021, BCA unveiled an interactive
geological map of Singapore which gave KEY FEATURES
industry users quick access to geological
information and improved the understanding
of their sites’ geology.
Geological cross- Allows users to search for

sections stratotype locations via
custom tools in the map
• 1:50 000 scale map

• Allows for printing in A0 page size Employs infographics Allows users to print the
(1189 x 841 mm) for simplicity and user- geological map in a variety of
friendliness different configurations
IGNEOUS
PLUTONS
SEDIMENTARY
ROCKS
Allows for multiple Provides on-map flyover

configurations of the labelling of information
Map display controls and tools allow different
display of different of different geological
configurations of the geological map to be geological elements classifications
displayed.
Transforming Regulatory Approval

Process through CORENET X
The upcoming CORENET X redefines the ecosystem of regulatory approvals powered by BIM
technologies. CORENET X will allow the project team to collaborate and produce a coordinated
3D BIM model for submission and approval by regulatory agencies.
The team behind CORENET X saw progress in two key milestones this year
- process re-engineering and the development of technological enablers.
PROCESS RE-ENGINEERING DEVELOPMENT OF TECHNOLOGICAL ENABLERS
AIMS • Transform the regulatory • Collaboration Platform (CP) − To transform the current way
approval process and agencies review plans and allow them to concurrently access
redesign the submission the same BIM model, as well as collaborate within the same
experience to change today’s platform.
agency-centric process into a
project-centric one. • Automated Model Checker (MC) − To improve the efficiency of
code checking and enable self-checking by consultants prior
to submission.
METHOD User-centric service journey Pilot testing of the two technological enablers
INVOLVEMENT Over 100 professionals from Industry stakeholders, officers from eight regulatory agencies
the public and private sectors (BCA, URA, NParks, LTA, PUB, NEA, SCDF and SLA) and GovTech
OUTCOMES • A reduction from over 20 • Pilots have successfully demonstrated the feasibility of 3D
approval stages across seven BIM review by regulatory agencies using digital tools to extract
agencies to a new three- the required information more effectively and the capability to
gateway regulatory approval automate rule-based regulatory checks respectively.
process, namely Design
Gateway, Construction • We used learning points from the pilots to refine the
Gateway and Completion. requirements for the full development of the CP and MC.
• Relevant policy changes and • Training of regulatory officers on BIM and the technological
regulatory sandboxing are enablers is underway.
being worked out to address • We organised five webinars to prepare the industry for a
the gaps identified. standardised, digital description of the built environment also
known as the Industry Foundation Classes (IFC), with additional
webinars in the pipeline.
Following the announcement of CORENET X, a series of industry webinars

were hosted in collaboration with six TACs and 12 agencies to introduce
the initiative. These attracted more than 3,200 industry practitioners who Attracted
>3,200
showed strong interest in the new initiatives, with over 300 questions
fielded during the Q&A segments. Many of the participants also posted
positive reviews and comments. industry
practitioners
Transforming Lift Maintenance productivity across the lift maintenance

Through AI and machine learning, Remote industry.
Monitoring and Diagnostics (RM&D) solutions
support predictive lift maintenance and reduce BCA conducted trials with Jurong Town
the time needed to rectify faults. The result is Corporation, in preparation for a new
better lift safety and reliability and increased maintenance approach for lifts monitored
and diagnosed by RM&D solutions.
CHAPTER 4
IMPROVING
LIVEABILITY
As we build, we create quality spaces that
are easily accessible and sustainable to allow
people from all walks of life to live, work and
play in. In doing so, we seek to shape an
inclusive, liveable city – one that embraces
people today and in the future.
Improving the Liveability

of Our Built Environment
Improving Building Quality and To gain accreditation, MA individuals need
Industry Standards to undergo a structured training programme
with a segment conducted by either of the two
Raising Building Quality Standards associations and another by the BCA Academy.
BCA worked with the Urban Redevelopment The training seeks to equip them with the
Authority (URA) to help homebuyers make better- necessary skills and knowledge to execute
informed decisions when purchasing or leasing their duties professionally. MA firms can be
properties. One initiative is to require developers accredited if they employ the minimum number
to provide their Construction Quality Assessment of accredited individuals.
System (CONQUAS) and Quality Mark (QM) scores,
as well as Green Mark certifications for their Revitalising Private Estates
completed projects in the past five years. BCA manages the Estate Upgrading
Programme (EUP) for private estates, which are
Meanwhile, BCA will be finalising the updated at various stages of implementation. About 28
CONQUAS 2022 and CONQUAS banding system. private estates were upgraded with barrier-free In FY2021,
CONQUAS 2022 will take into consideration features, benefitting about 20,000 households. BCA managed
buyers’ concerns regarding latent defects Residents of all ages and different mobility EUP projects for
and major functionality issues. The CONQUAS
banding system will help homebuyers discern
needs in these estates can now enjoy better
accessibility and connectivity within their 28
private estates,
the relative quality performances of developers, estates. We also rolled out a new residents’
benefitting
builders and their private residential projects. engagement framework, which facilitated a
Accreditation Scheme for Managing

participatory approach in co-creating ideas
and strengthening partnerships.
20,000
households
Agents (MAs)
On 23 June 2021, BCA issued the Certificate
of Recognition to the Association of Strata
Managers (ASM) and the Association of Property
and Facility Managers (APFM) in recognition
of their accreditation schemes for MAs. The
accreditation schemes are aimed at helping the
Thomson Faber Island Garden Estate upgraded with barrier-free features.
industry raise the standards for MAs who provide
services to the Management Corporation Strata
Titles (MCSTs).
CONQUAS Take-up rate

adoption for BCA Quality
rate 2021 Mark 2021
95% 62%
Before After
Enhancing Accessibility for Persons

with Disabilities (PWDs)
The Accessible City Network (ACN) was

launched on 20 November 2021. It brought
together representatives from the private,
public and social service sectors − such as
the Disabled People’s Association (DPA),
SPD, the Handicaps Welfare Society (HWA)
and the Singapore Association of the
Visually Handicapped (SAVH) to address
accessibility gaps.
Through a co-solutioning workshop and on-

site engagement sessions, we collaboratively
tackled accessibility challenges in the Central
Business District (CBD) that limit employment
opportunities for PWDs. These led to way-
finding enhancement works for Raffles Place
Launch of Accessible
MRT station and the Underground Pedestrian City Network.
Network. This community partnership
fostered a better understanding of the
needs of PWDs, while allowing different
stakeholders, from building owners to
transport operators and planners, to play a
key role in bringing to life user-centric designs
that ease the lives of PWDs.
The co-solutioning
workshop and on-site
engagement sessions
with PWDs resulted in
enhancement works on
way-finding for Rafffles
Place MRT station
and the underground
pedestrian network.
CHAPTER 5
TRANSFORMING
WITHIN
Our quest to accelerate industry transformation
begins with us. Beyond harnessing technology
and embedding data use into our DNA, we seek
to continually do better for our people. As an
employer of choice, we are rethinking our
workplace to create a hybrid environment that
embraces greater ﬂexibility and sparks
collaborations.
Transforming Within
Official opening
of SIFMA office by
Senior Minister of
State (SMS) Tan
Kiat How at BCA
Braddell Campus
on 22 July 2021.
Fostering Greater Synergy amongst

Industry Partners
In 2021, our industry partners, namely the

Singapore International Facility Management
Association (SIFMA) and the Institute of
Singapore Project Management (SPM), officially
moved to the Braddell Campus. This is part of
BCA’s ongoing efforts to foster synergy among
Institutes of Higher Learning (IHLs), TACs
and specialists .
The Braddell campus will be expanded in the next

year, to create space to nurture collaboration (by
BCA) with and between industry players and drive
the co-development of training and research that
are in line with industry needs.
Digitalising to
Improve Service Delivery
BCA’s Digitalisation Plan embodies our dedication to innovation and

transformation. It establishes the roadmap to transform our policies,
digitalise our processes, improve our service delivery and drive smarter
end-to-end solutions for businesses.
CORENET X COMMON MAINTENANCE

TENDER (CMT)
COMPLETED
the Collaboration Platform pilot trial. Consolidated maintenance support
Regulatory agencies concurrently assessed services under a CMT to
the same coordinated Building Information IMPROVE
Modelling (BIM) model and collaborated via the governance compliance and service
platform to provide a coordinated response levels for systems across BCA.
to the industry.
After the CMT was awarded

COMPLETED in March 2021,
two out of five releases of the
43 OUT OF 45
Automated Model Checker pilot trial.
systems have onboarded it
This trial comprises an engine that helps the
in FY2021.
industry and agencies check for regulatory
compliance, and improve the consistency and
accuracy of code interpretation.
COMPLETED
the trial of the first three out of four batches
of the regulatory rule mapping to Industry
Foundation Classes (IFC)-SG standard.
Supporting Industry Transformation and an employer of choice, BCA formulated a

Strategic Workforce Plan (SWP) in 2021. The
Shaping a future-ready Built Environment SWP aims to transform jobs, while developing
sector remains an important focus for BCA. our long-term ops-tech proficiencies.
To equip BCA officers with the skill sets and Furthermore, we strive to equip our staff with
tools to support industry transformation, we the skillsets needed for jobs of the future
identified five core capabilities and developed in areas ranging from robotics and smart
the plans to build up capabilities in these areas inspection, to integrated design and delivery.
over the next few years.
Reinforcing our efforts on this front, close
Becoming a Future-Ready, to 80 BCA officers were identified as
Employer of Choice smart and power users and trained in new
competencies, such as data analytics and
To realise our vision of becoming a robotic process automation, to help lead
technologically-savvy, data-driven organisation digital change within BCA.
54 BUILDING AND CONSTRUCTION AUTHORITY AND ITS SUBSIDIARIES
ANNUAL
FINANCIAL
STATEMENTS
Building and Construction Authority
and Its Subsidiaries
Statement
by the Board
KPMG LLP Telephone +65 6213 3388
16 Raffles Quay #22-00 Fax +65 6225 0984
Hong Leong Building Internet www.kpmg.com.sg
Singapore 048581
Independent
Independent auditors’ report
Auditors’ Report
MembersMembers
of the Board
of the Board
Building and Construction
Building Authority
and Construction Authority
Report on the audit of the financial statements
We have audited the financial statements of Building and Construction Authority (the
“Authority”) and its subsidiaries (collectively, the “Group”), which comprise the statements of
financial position of the Group and the Authority as at 31 March 2022, statements of
comprehensive income and statements of changes in reserves of the Group and the Authority, and
consolidated cash flow statement of the Group for the year then ended, and notes to the financial
statements, including a summary of significant accounting policies, as set out on pages FS1 to
FS53.
In our opinion, the accompanying consolidated financial statements of the Group, the statement
of financial position, the statement of comprehensive income and the statement of changes in
reserves of the Authority are properly drawn up in accordance with the provisions of the Public
Sector (Governance) Act 2018 (“the PSG Act”), the Building and Construction Authority Act,
Chapter 30A (the “Act”) and Statutory Board Financial Reporting Standards (“SB-FRS”) so as to
present fairly, in all material aspects, the statement of affairs of the Group and the Authority as at
31 March 2022 and of the financial performance and changes in reserves, of the Group and the
Authority and consolidated cash flows of the Group for the year ended on that date.
Basis for opinion
We conducted our audit in accordance with Singapore Standards on Auditing (SSAs). Our
responsibilities under those standards are further described in the Auditor’s Responsibilities for
the Audit of the Financial Statements section of our report. We are independent of the Group in
accordance with the Accounting and Corporate Regulatory Authority (ACRA) Code of
Professional Conduct and Ethics for Public Accountants and Accounting Entities (ACRA Code)
together with the ethical requirements that are relevant to our audit of the financial statements in
Singapore, and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the ACRA Code. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Other information
Management is responsible for other information. The other information comprises the Annual
Report and Statement by the Board, but does not include the financial statements and our auditor's
report thereon. The other information obtained at the date of this auditor's report is the Statement
by the Board.
Our opinion on the financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.
KPMG LLP (Registration No. T08LL1267L), an accounting

limited liability partnership registered in Singapore under the
Limited Liability Partnerships Act 2005 and a member firm of
the KPMG global organization of independent member firms 2
affiliated with KPMG International Limited, a private English
company limited by guarantee.
KPMG LLP (Registration No. T08LL1267L), an accounting limited liability partnership registered in Singapore under the Limited Liability Partnership
Act (Chapter 163A) and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a
private English company limited by guarantee.
ANNUAL Authority
REPORT 2021/2022 57
and its Subsidiaries
Year ended 31 March 2022
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent
with the financial statements or our knowledge obtained in the audit, or otherwise appears to be
materially misstated. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact. We have
nothing to report in this regard.
Responsibilities of management and those charged with governance for the financial statements
Management is responsible for the preparation of financial statements that give a true and fair
view in accordance with the PSG Act, the provisions of the Act and SB-FRSs, and for devising
and maintaining a system of internal accounting controls sufficient to provide a reasonable
assurance that assets are safeguarded against loss from unauthorised use or disposition; and
transactions are properly authorised and that they are recorded as necessary to permit the
preparation of true and fair financial statements and to maintain accountability of assets.
A statutory board is constituted based on its Act and its dissolution requires Parliament’s approval.
In preparing the financial statements, management is responsible for assessing the Group's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless there is intention to wind up the Group or for
the Group to cease operations, or has no realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Group’s financial reporting
process.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with SSAs will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SSAs, we exercise professional judgement and maintain
professional scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and
obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.
The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
3
58 BUILDING AND CONSTRUCTION AUTHORITY AND ITS SUBSIDIARIES Building and Construction Authority
Independent
Auditors’ Report (cont’d)
Members of the Board
• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Group's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of

accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of

accounting and, based on the audit evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt on the Group's ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are
required to draw attention in our auditor's report to the related disclosures in the financial
statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our auditor's report.
• Evaluate the overall presentation, structure and content of the financial statements, including
the disclosures, and whether the financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the
entities or business activities within the Group to express an opinion on the consolidated
financial statements. We are responsible for the direction, supervision and performance of
the group audit. We remain solely responsible for our audit opinion.
We communicate with those charged with governance regarding, among other matters, the
planned scope and timing of the audit and significant audit findings, including any significant
deficiencies in internal control that we identify during our audit.
Report on other legal and regulatory requirements
Opinion
In our opinion:
(a) the receipts, expenditure, investment of moneys and the acquisition and disposal of assets
by the Authority during the financial year are, in all material respects, in accordance with
the provisions of the PSG Act, the Act and the requirements of any other written law
applicable to moneys of or managed by the Authority; and
(b) proper accounting and other records have been kept, including records of all assets of the
Authority whether purchased, donated or otherwise.
4
ANNUAL Authority
REPORT 2021/2022 59
Basis for opinion
We conducted our audit in accordance with SSAs. Our responsibilities under those standards are
further described in the Auditor's Responsibilities for the Compliance Audit section of our report.
We are independent of the Group in accordance with the ACRA Code together with the ethical
requirements that are relevant to our audit of the financial statements in Singapore, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the ACRA
Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide
a basis for our opinion on management's compliance.
Responsibilities of management for compliance with legal and regulatory requirements
Management is responsible for ensuring that the receipts, expenditure, investment of moneys and
the acquisition and disposal of assets, are in accordance with the provisions of the PSG Act, the
Act and the requirements of any other written law applicable to moneys of or managed by the
Authority. This responsibility includes monitoring related compliance requirements relevant to
the Authority, and implementing internal controls as management determines are necessary to
enable compliance with the requirements.
Auditor's responsibilities for the compliance audit
Our responsibility is to express an opinion on management’s compliance based on our audit of

the financial statements. We planned and performed the compliance audit to obtain reasonable
assurance about whether the receipts, expenditure, investment of moneys and the acquisition and
disposal of assets, are in accordance with the provisions of the PSG Act, the Act and the
requirements of any other written law applicable to moneys of or managed by the Authority.
Our compliance audit includes obtaining an understanding of the internal control relevant to the
receipts, expenditure, investment of moneys and the acquisition and disposal of assets; and
assessing the risks of material misstatement of the financial statements from non-compliance, if
any, but not for the purpose of expressing an opinion on the effectiveness of the Authority's
internal control. Because of the inherent limitations in any internal control system, non-
compliances may nevertheless occur and not be detected.
KPMG LLP
Public Accountants and
Chartered Accountants
Singapore
16 August 2022
5

Statements of Financial statements
Financial Position
As at 31 March 2022
Statements of financial position
As at 31 March 2022
Group Authority
Note 2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Assets
Property, plant and
equipment 4 169,100,390 142,569,830 169,100,390 142,569,830
Investments in subsidiaries 5 – – 2 2
Trade and other receivables 6 41,059,869 57,302,093 41,059,869 57,302,093
Non-current assets 210,160,259 199,871,923 210,160,261 199,871,925

Cash and bank balances 7 432,293,174 443,903,853 422,011,626 432,573,646
Current assets 492,972,645 521,614,069 482,852,649 511,379,894
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
Liabilities
Fees received in advance 8 27,623,290 26,440,523 27,623,290 26,440,523
Lease liabilities 9 50,077,186 75,790,740 50,077,186 75,790,740
Provision for pension costs 10(a) 2,725,070 3,127,855 2,725,070 3,127,855
Provision for reinstatement
costs 10(b) 2,062,077 794,283 2,062,077 794,283
Deferred capital grants 11 6,685,148 3,445,116 6,685,148 3,445,116
Non-current liabilities 89,172,771 109,598,517 89,172,771 109,598,517
Fee received in advance 8 57,925,048 52,920,818 54,429,558 49,587,129

Trade payables 8,639,530 10,839,144 8,592,375 10,839,144
Other payables and accruals 12 66,659,492 94,547,343 66,320,992 94,537,857
Provision for pension costs 10(a) 186,290 186,719 186,290 186,719
Grants received in advance 13 75,109 72,775 75,109 72,775
Provision for contribution to
consolidated fund 14 3,446,938 – 3,446,938 –
Income tax payables 26,678 2,727 – –
Current liabilities 196,721,688 232,475,663 192,813,865 229,129,761
Total liabilities 285,894,459 342,074,180 281,986,636 338,728,278
Net assets 417,238,445 379,411,812 411,026,274 372,523,541
Capital and reserves

Share capital 15 29,827,178 8,447,600 29,827,178 8,447,600
Capital account 16 30,816,526 30,816,526 30,816,526 30,816,526
Accumulated surplus 356,594,741 340,147,686 350,382,570 333,259,415
Total capital and reserves 417,238,445 379,411,812 411,026,274 372,523,541
Net assets of trust and

agency funds 17 18,324,342 23,006,035 18,324,342 23,006,035
The accompanying notes form an integral part of these financial statements.
FS1

Comprehensive Income
Statements
Statements ofcomprehensive
of financial position
income
Year
As at ended 31 March
31 March 2022 2022
Group Authority
Authority
Note 2021/2022
2021/2022 2020/2021
2020/2021 2021/2022
2021/2022 2020/2021
2020/2021
$ $ $ $
Assets
Operating income
Property,
Plan fees plant and 34,800,801 38,501,409 34,800,801 38,501,409
equipment
Course fees 4 169,100,390
25,241,044 142,569,830
21,977,935 169,100,390
25,241,044 142,569,830
21,977,935
Investments
Trade test fees in subsidiaries 5 13,238,260– 674,402– 13,238,2602 674,4022
Trade and other receivables
Quality assessment fees 6 41,059,869
10,251,579 57,302,093
7,811,689 41,059,869
9,994,079 57,302,093
7,282,661
Non-current assets
Advertisement licence fees 210,160,259
6,483,399 199,871,923
6,393,148 210,160,261
6,483,399 199,871,925
6,393,148
Certification fees 732,167 1,791,083 732,167 1,781,583
Trade and other
Contractors receivables
registration fees 6 60,679,471
4,787,842 77,710,216
4,747,549 60,841,023
4,787,842 78,806,248
4,747,549
Operating lease income 1,976,380 1,665,000 1,976,380 1,665,000
Current assets 492,972,645 521,614,069 482,852,649 511,379,894
Management fees 18,565,129 18,470,808 18,565,129 18,470,808
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
Other income 14,699,423 21,354,128 14,022,422 21,354,129
Total operating income 19 130,776,024 123,387,151 129,841,523 122,848,624
Liabilities
Operating expenditure
Employee
Provision for benefit costs
pension costs 20
10(a) 132,972,035
2,725,070 127,971,148
3,127,855 132,033,430
2,725,070 126,746,414
3,127,855
Depreciation of property,
plant
costs and equipment 4
10(b) 16,089,620
2,062,077 17,878,250
794,283 16,089,620
2,062,077 17,878,250
794,283
Course and
Deferred programme
capital grants 11 6,685,148 3,445,116 6,685,148 3,445,116
expenses liabilities
Non-current 12,996,950
89,172,771 13,047,648
109,598,517 12,994,969
89,172,771 13,035,694
109,598,517
Rental expenses 4,342,330 4,502,481 4,342,330 4,502,481
Repairs and maintenance
expenses
Lease liabilities 9 18,119,814
58,608,227 16,708,017
72,166,367 18,119,814
58,608,227 16,708,017
72,166,367
Provision
Trade payablesof impairment 8,639,530 10,839,144 8,592,375 10,839,144
losspayables
Other on tradeand receivables
accruals 12 1,455,305
66,659,492 9,591,598
94,547,343 1,455,305
66,320,992 9,591,598
94,537,857
Loss on lease modification
Provision for pension costs 10(a) 214,014
186,290 –
186,719 214,014
186,290 –
186,719
Other
Grantsexpenditure
received in advance 13 14,729,187
75,109 24,851,526
72,775 14,425,850
75,109 26,628,098
72,775
Total operating
Deferred capital expenditure
grants 11 200,919,255
1,154,376 214,550,668
1,739,770 199,675,332
1,154,376 215,090,552
1,739,770
Netconsolidated fund
operating deficit 14 3,446,938
(70,143,231) –
(91,163,517) 3,446,938
(69,833,809) –
(92,241,928)
Current liabilities
Non-operating 196,721,688 232,475,663 192,813,865 229,129,761
Total liabilities
income/(expenses) 285,894,459 342,074,180 281,986,636 338,728,278
Net assets
Interest income 417,238,445
4,729,877 379,411,812
8,253,453 411,026,274
4,729,877 372,523,541
8,253,453
Interest expense (4,526,089) (5,485,704) (4,526,089) (5,485,704)
Capital
Gain onand reserves
disposal of
Share capital
property, plant and 15 29,827,178 8,447,600 29,827,178 8,447,600
Capital account
equipment 16 30,816,526
80 30,816,526
– 30,816,526
80 30,816,526
–
Accumulated surplus
Property, plant and 356,594,741 340,147,686 350,382,570 333,259,415
Total capital and
equipment reserves
written- 417,238,445 379,411,812 411,026,274 372,523,541
off/expensed (198,178) (167,340) (198,178) (167,340)
Net assets of trust and 5,690 2,600,409 5,690 2,600,409
agency funds 17 18,324,342 23,006,035 18,324,342 23,006,035
Deficit before government
grants brought forward (70,137,541) (88,563,108) (69,828,119) (89,641,519)
FS2
FS1
Building
Building and
and Construction
Construction Authority
Authority
and its
Subsidiaries
Financial statements
Year
Year ended
ended 31
31 March
March 2022
Comprehensive Income (cont’d) 2022

of financial
Statements of comprehensive income (cont’d)
position
Year ended 31 March
As at 31 March 2022 2022
Group Authority
Authority
Note 2021/2022
2021/2022 2020/2021
2020/2021 2021/2022
2021/2022 2020/2021
2020/2021
$ $ $ $
Assets
Government grants
Property,
Operatingplant
and and
development
equipment
grants 4
13 169,100,390
88,370,936 142,569,830
87,172,787 169,100,390
88,370,936 142,569,830
87,172,787
Investments in subsidiaries
Deferred capital grants 5 – – 2 2
Trade
amortised receivables
and other 6
11 41,059,869
1,733,289 57,302,093
1,887,402 41,059,869
1,733,289 57,302,093
1,887,402
Non-current assets 210,160,259
90,104,225 199,871,923
89,060,189 210,160,261
90,104,225 199,871,925
89,060,189
Surplus/(deficit) before
contribution to
Current assets 492,972,645 521,614,069 482,852,649 511,379,894
consolidated fund and
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
income tax 19,966,684 497,081 20,276,106 (581,330)
Contribution
Liabilities
to
Fees received in fund
consolidated advance 14
8 (3,446,938)
27,623,290 –
26,440,523 (3,446,938)
27,623,290 –
26,440,523
Income tax expense
Lease liabilities 21
9 (366,678)
50,077,186 (2,727)
75,790,740 –
50,077,186 –
75,790,740
Surplus/(deficit)
Provision for pension forcosts
the 10(a) 2,725,070 3,127,855 2,725,070 3,127,855
year
Provision for reinstatement 22 16,153,068 494,354 16,829,168 (581,330)
costs 10(b) 2,062,077 794,283 2,062,077 794,283
Other comprehensive
income: liabilities
Non-current 89,172,771 109,598,517 89,172,771 109,598,517
Items that will not be
Feereclassified
received in to surplus or
advance 8 57,925,048 52,920,818 54,429,558 49,587,129
deficit in subsequent
periods
Trade payables 8,639,530 10,839,144 8,592,375 10,839,144
Re-measurement
Other payables andgain on
accruals 12 66,659,492 94,547,343 66,320,992 94,537,857
defined benefit plan
Provision for pension costs 10(a) 293,987
186,290 –
186,719 293,987
186,290 –
186,719
Other received
Grants comprehensive
in advance 13 75,109 72,775 75,109 72,775
income
Deferred for the
capital year,
grants 11 1,154,376 1,739,770 1,154,376 1,739,770
Provision for
net of tax contribution to 293,987 – 293,987 –
Income tax payables
Total comprehensive 26,678 2,727 – –
Current
income liabilities
for the year 196,721,688
16,447,055 232,475,663
494,354 192,813,865
17,123,155 229,129,761
(581,330)
Net assets 417,238,445 379,411,812 411,026,274 372,523,541

Share capital 15 29,827,178 8,447,600 29,827,178 8,447,600
Capital account 16 30,816,526 30,816,526 30,816,526 30,816,526

agency funds 17 18,324,342 23,006,035 18,324,342 23,006,035
FS3
FS1
Building
Building and
and Construction
Construction Authority
Authority
and its
Subsidiaries
Statements of Year
Financial
Year ended 31
ended
statements
31 March
March 2022
2022
Changes in Reserves
Statements
Year ended 31 of financial
March 2022
Statements of changes inposition
reserves
Year
31 March 2022 2022
Share GroupCapital Accumulated

Authority
Note
Note 2021/2022
capital 2020/2021
account 2021/2022
surplus 2020/2021
Total
$ $ $$ $$ $$
Assets
Group
Property, plant and
equipment 4 169,100,390 142,569,830 169,100,390 142,569,830
At 1 April 2020
Investments in subsidiaries 5 6,047,600 – 30,816,526 – 339,653,3322 376,517,4582
Total comprehensive
income for the year
Trade andfor
Surplus other
the receivables
year 6 60,679,471
– 77,710,216
– 60,841,023
494,354 78,806,248
494,354
Total comprehensive
Current assets 492,972,645 521,614,069 482,852,649 511,379,894
income for the year – – 494,354 494,354
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
Issue of share capital

Liabilities 15 2,400,000 – – 2,400,000
Lease
At 31 liabilities
March 2021 9 50,077,186
8,447,600 75,790,740
30,816,526 50,077,186
340,147,686 75,790,740
379,411,812
At costs
1 April 2021 10(b)
8,447,600
2,062,077
30,816,526
794,283
340,147,686
2,062,077
379,411,812
794,283
Total comprehensive
income for the year
Surplus for the
Fee received year
in advance 8 –
57,925,048 –
52,920,818 16,153,068
54,429,558 16,153,068
49,587,129
Otherliabilities
Lease comprehensive 9 58,608,227 72,166,367 58,608,227 72,166,367
income
Trade payables 8,639,530 10,839,144 8,592,375 10,839,144
Other payables andgain
Re-measurement accruals
on 12 66,659,492 94,547,343 66,320,992 94,537,857
Provision
definedforbenefit
pension costs 10(a)
plan 10(a) 186,290
– 186,719
– 186,290
293,987 186,719
293,987
Total comprehensive
income for the year
– – 16,447,055 16,447,055
Issue
Incomeoftax
share capital
payables 15 21,379,578
26,678 –
2,727 –– 21,379,578–
Total
At 31 liabilities
March 2022 285,894,459
29,827,178 342,074,180
30,816,526 281,986,636
356,594,741 338,728,278
417,238,445
Net assets 417,238,445 379,411,812 411,026,274 372,523,541

Share capital 15 29,827,178 8,447,600 29,827,178 8,447,600
Capital account 16 30,816,526 30,816,526 30,816,526 30,816,526

agency funds 17 18,324,342 23,006,035 18,324,342 23,006,035
The
The accompanying
accompanying notes
notes form
form an
an integral
integral part
part of
of these
these financial
financial statements.
statements.
FS4
FS1

Changes in Reserves (cont’d) Year ended 31 March 2022

reserves (cont’d)
changes inposition
Statements of financial
Year ended 31 March
As at 31 March 2022 2022
Share GroupCapital Accumulated

Authority
Note
Note 2021/2022
capital 2020/2021
account 2021/2022
surplus 2020/2021
Total
$ $ $$ $$ $$
Assets
Authority
Property, plant and
equipment 4 169,100,390 142,569,830 169,100,390 142,569,830
At 1 April 2020
Investments in subsidiaries 5 6,047,600 – 30,816,526 – 333,840,7452 370,704,8712
Total comprehensive
income for the year
Trade andfor
Surplus other
the receivables
year 6 60,679,471
– 77,710,216
– 60,841,023
(581,330) 78,806,248
(581,330)
Cash and bank balances
Total comprehensive 7 432,293,174 443,903,853 422,011,626 432,573,646
Current
income assets
for the year 492,972,645
– 521,614,069
– 482,852,649
(581,330) 511,379,894
(581,330)
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
Liabilities 15 2,400,000 – – 2,400,000
At 31 liabilities
Lease March 2021 9 8,447,600
50,077,186 30,816,526
75,790,740 333,259,415
50,077,186 372,523,541
75,790,740
Provision
At 1 Aprilfor2021
reinstatement 8,447,600 30,816,526 333,259,415 372,523,541
costs 10(b) 2,062,077 794,283 2,062,077 794,283
Total comprehensive
income for the year
Surplus for the year – – 16,829,168 16,829,168
Other comprehensive
income
Trade payables 8,639,530 10,839,144 8,592,375 10,839,144
Re-measurement
Other payables andgain on
accruals 12 66,659,492 94,547,343 66,320,992 94,537,857
definedforbenefit
Provision plan
pension costs 10(a)
10(a) –
186,290 –
186,719 293,987
186,290 293,987
186,719
Grants received in advance
Total comprehensive 13 75,109 72,775 75,109 72,775
Deferred
income capital grants
for the year 11 1,154,376
– 1,739,770
– 1,154,376
17,123,155 1,739,770
17,123,155
Income tax payables
15 21,379,578
26,678
–
2,727
–– 21,379,578–
At 31 liabilities
Total March 2022 29,827,178
285,894,459 30,816,526
342,074,180 350,382,570
281,986,636 411,026,274
338,728,278
Net assets 417,238,445 379,411,812 411,026,274 372,523,541

Share capital 15 29,827,178 8,447,600 29,827,178 8,447,600
Capital account 16 30,816,526 30,816,526 30,816,526 30,816,526

agency funds 17 18,324,342 23,006,035 18,324,342 23,006,035
FS5
FS1

Consolidated Financial statements
Cash Flow Statement
Consolidated
Statements of cash flow position
financial statement
Year
31 March 2022 2022
Group
Group Note 2021/2022Authority
2020/2021
Note 2021/2022 2020/2021 2021/2022
$ 2020/2021
$
Cash flows from operating activities $ $ $ $
Assets
Deficit before government grants (70,137,541) (88,563,108)
Property,
Adjustmentsplant and
for:
equipment 4 equipment
Depreciation of property, plant and 169,100,390 142,569,830
4 169,100,390
16,089,620 142,569,830
17,878,250
Investments in
Interest income subsidiaries 5 – – 2
(4,729,877) 2
(8,253,453)
Trade and other
Interest expense receivables 6 41,059,869 57,302,093 41,059,869
4,526,089 57,302,093
5,485,704
Non-current
Loss on lease assets
modification 210,160,259 199,871,923 210,160,261
214,014 199,871,925
–
Gain on disposal of property, plant and equipment (80) –
Trade andplant
Property, otherand
receivables 6 60,679,471
equipment written-off/expensed 77,710,216 60,841,023
198,178 78,806,248
167,340
Impairment loss on receivables 25 1,455,307 9,591,598
Current assets 492,972,645 521,614,069 482,852,649 511,379,894
Provision for pension costs 10(a) 70,867 77,000
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
Provision for reinstatement costs 10(b) 1,247,514 –
(51,065,909) (63,616,669)
Liabilities
Changes in working
Fees received capital:
in advance 8 27,623,290 26,440,523 27,623,290 26,440,523
Decrease in trade
Lease liabilities and other receivables
9 50,077,186 75,790,740 56,664,056
50,077,186 62,591,758
75,790,740
Increase/(decrease)
Provision for pension in costs
fees received
10(a)in advance
2,725,070 3,127,855 6,186,997
2,725,070 (11,178,148)
3,127,855
Decrease
Provision in fordeferred grant income
reinstatement – (666,541)
Decrease
costs in trade payables 10(b) 2,062,077 794,283 (6,564,065)
2,062,077 (9,938)
794,283
(Decrease)/increase
Deferred capital grants in other payables
11 and accruals
6,685,148 3,445,116 (32,827,516)
6,685,148 34,878,925
3,445,116
Increase in cash
Non-current not available for general use
liabilities 89,172,771 109,598,517 (7,786,355)
89,172,771 (4,847,299)
109,598,517
Cash flows (used in)/from operations (35,392,792) 17,152,088
Payment for contribution
Fee received in advance to consolidated
8 fund
57,925,048 52,920,818 –
54,429,558 (5,440,695)
49,587,129
Payment of income
Lease liabilities tax 9 58,608,227 72,166,367 (342,727)
58,608,227 (13,161)
72,166,367
Pension paid
Trade payables 8,639,530 10,839,144 (180,094)
8,592,375 (188,058)
10,839,144
Net
Othercash (used and
payables in)/from operating
accruals 12 activities
66,659,492 94,547,343 (35,915,613)
66,320,992 11,510,174
94,537,857
Grants received
Cash flows fromininvesting
advance activities
13 75,109 72,775 75,109 72,775
Deferred
Purchase capital grantsplant and equipment
of property, 11 1,154,376
(Note A) 1,739,770 1,154,376
(33,021,403) 1,739,770
(16,144,423)
Provision
Proceeds fromfor contribution
disposal of to
property, plant and equipment 158 –
consolidated
Interest receivedfund 14 3,446,938 – 3,446,938
6,071,595 8,231,258–
Income tax payables
Net cash used in investing activities 26,678 2,727 –
(26,949,650) –
(7,913,165)
Total liabilities
Cash flows from financing activities 285,894,459 342,074,180 281,986,636 338,728,278
Net assets
Payment of lease liabilities 417,238,445 379,411,812
9 411,026,274
(65,649,609) 372,523,541
(69,824,267)
Issuance of shares 15 21,379,578 2,400,000
Capital
Governmentand grants
reserves
received 91,959,358 87,225,356
Share
Interestcapital
paid 15 29,827,178 8,447,600 29,827,178
(4,221,098) 8,447,600
(5,071,467)
Capital account 16 30,816,526 30,816,526 30,816,526 30,816,526
Net cash from financing activities 43,468,229 14,729,622
Net (decrease)/increase in cash and cash equivalents (19,397,034) 18,326,631
Cash and cash equivalents at beginning of the year 433,484,266 415,157,635
Cash and cash
agency fundsequivalents at end
17 of the18,324,342
year 7
23,006,035 414,087,232
18,324,342 433,484,266
23,006,035
FS6
FS1

Consolidated Cash and its Subsidiaries
Flow Statement (cont’d) Financial
Year ended statements
31 March 2022
Statements of financial position
Consolidated cash
As at 31 March flow statement (cont’d)
2022
Group Group
Authority
Note 2021/2022 2020/2021
Note 2021/2022
2021/2022 2020/2021
2020/2021
$ $ $$ $$
Assets
Note A
Property, plant and
equipment 4 169,100,390 142,569,830 169,100,390 142,569,830
Purchase
Investmentsofinproperty, plant and5 equipment:
subsidiaries – – 2 2
Additions
Non-current of assets
property, plant and equipment
210,160,259 4
199,871,923 42,818,436
210,160,261 20,110,834
199,871,925
Add: Opening accruals for the purchase of property,
Trade andplant
otherand
receivables
equipment 6 60,679,471 77,710,216
12 60,841,023
2,214,951 78,806,248
761,821
Cash and bank balances 7 432,293,174
Less: Closing accruals for the purchase of property, 443,903,853 422,011,626 432,573,646
Current plant
assetsand equipment 492,972,645 521,614,069
12 482,852,649
(7,154,613) 511,379,894
(2,214,951)
Total assets 703,132,904 721,485,992 693,012,910 711,251,819
Less: Property, plant and equipment funded through
capital grant 11 (799,505) –
Liabilities
Less: Property, plant
Fees received in advance and equipment
8 not paid
27,623,290 26,440,523 (4,057,866)
27,623,290 (2,513,281)
26,440,523
Lease liabilities 9 50,077,186 75,790,740 33,021,403
50,077,186 16,144,423
75,790,740
costs 10(b) 2,062,077 794,283 2,062,077 794,283

Trade payables 8,639,530 10,839,144 8,592,375 10,839,144
Other payables and accruals 12 66,659,492 94,547,343 66,320,992 94,537,857
Net assets 417,238,445 379,411,812 411,026,274 372,523,541

Share capital 15 29,827,178 8,447,600 29,827,178 8,447,600
Capital account 16 30,816,526 30,816,526 30,816,526 30,816,526

agency funds 17 18,324,342 23,006,035 18,324,342 23,006,035

FS1
FS7
Notes to the and its Subsidiaries

Financial Statements Year ended 31 March 2022

Notes to the financial statements
These notes form an integral part of the financial statements.
The financial statements of the Authority and its subsidiaries (Group) which comprise the
statements of financial position of the Group and the Authority as at 31 March 2022, statements
of comprehensive income and statements of changes in reserves of the Group and Authority and
consolidated cash flow statement of the Group for the year ended were authorised for issue by the
Board Members of the Authority on 16 August 2022.
1 Domicile and activities

Building and Construction Authority (the “Authority”) is established as a statutory board in the
Republic of Singapore under the Building and Construction Authority Act, Chapter 30A (the
“Act”). The address of the Authority’s registered office is 52 Jurong Gateway Road, #11-01,
Singapore 608550.
The mission of the Authority is to transform the built environment sector and shape a liveable and
smart built environment for Singapore. The principal activities of the subsidiaries are disclosed
in Note 5 to the financial statements.
2 Basis of preparation
2.1 Statement of compliance
The financial statements have been prepared in accordance with the provision of the Act and the
Statutory Board Financial Reporting Standards (“SB-FRS”). SB-FRS includes Statutory Board
Financial Reporting Standards, Interpretations of SB-FRS and SB-FRS Guidance Notes. The
related changes to significant accounting policies are described in note 2.5.
2.2 Basis of measurement
The financial statements have been prepared on the historical cost basis except as otherwise
described in the notes below.
2.3 Functional and presentation currency
These financial statements are presented in Singapore Dollars, which is the Authority’s functional
currency, unless otherwise stated.
2.4 Use of estimates and judgements
The preparation of the financial statements in conformity with SB-FRSs requires management to
make judgements, estimates and assumptions that affect the application of accounting policies
and the reported amounts of assets, liabilities, income and expenses. Actual results may differ
from these estimates.
FS8
Notes to the
Financial Statements (cont’d) Building and Construction Authority
Year ended 31 March 2022 Financial statements
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimates are revised and in any future periods
affected.
Information about significant areas of estimation uncertainty and critical judgements in applying
accounting policies that have most significant effect on the amount recognised in the financial
statements is included in the followings notes:
• Note 3.9 (i)– provision for pension costs

• Note 3.10 – revenue recognition
• Note 4 – estimation of useful lives of property, plant and equipment
• Note 6 – recoverability of trade and other receivables
The accounting policies used by the Group have been applied consistently to all periods presented
in these financial statements.
2.5 Changes in accounting policies
New standards and amendments
The Group has applied the following SB-FRS and guidance notes, amendments to and
interpretations of SB-FRS and guidance notes for the first time for the annual period beginning on
1 April 2021:
• Interest Rate Benchmark Reform – Phase 2 (Amendments to SB-FRS 109, SB-FRS 39, SB-
FRS 107, SB-FRS 104 and SB-FRS 116)
• Accounting for Depreciation of Statutory Board-Owned Assets Situated on Land Allocated
under Tenancy Agreements Governed by State Land Rules (SB-GN 9)
• Accounting for Capital Assets Funded using Statutory Boards’ Reserves on Behalf of the
Government (SB-GN 10)
The application of these amendments to standards and interpretations does not have a material effect
on the financial statements.
3 Significant accounting policies

The accounting policies set out below have been applied consistently to all periods presented in
these financial statements, except as explained in note 2.5, which addresses changes in accounting
policies.
3.1 Basis of consolidation
(i) Subsidiaries
Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed
to, or has rights to, variable returns from its involvement with the entity and has the ability to
affect those returns through its power over the entity. The financial statements of subsidiaries are
included in the consolidated financial statements from the date that control commences until the
date that control ceases.

The accounting policies of subsidiaries have been changed when necessary to align them with the
policies adopted by the Group.
3.2 Foreign currency
(i) Foreign currency transactions
Transactions in foreign currencies are translated to the respective functional currencies of the
Authority and its subsidiaries at exchange rates at the dates of the transactions. Monetary assets
and liabilities denominated in foreign currencies at the reporting date are translated to the
functional currency at the exchange rate at that date. The foreign currency gain or loss on
monetary items is the difference between amortised cost in the functional currency at the
beginning of the year, adjusted for effective interest and payments during the year, and the
amortised cost in foreign currency translated at the exchange rate at the end of the year.
Non-monetary assets and liabilities denominated in foreign currencies that are measured at fair
value are translated to the functional currency at the exchange rate at the date that the fair value
was determined. Non-monetary items in a foreign currency that are measured in terms of
historical cost are translated using the exchange rate at the date of the transaction. Foreign
currency differences arising on translation are recognised in profit or loss.
3.3 Financial instruments
(i) Recognition and initial measurement
Non-derivative financial assets and financial liabilities
Trade receivables are initially recognised when they are originated. All other financial assets and
financial liabilities are initially recognised when the Group becomes a party to the contractual
provisions of the instrument.
A financial asset (unless it is a trade receivable without a significant financing component) or

financial liability is initially measured at fair value plus or minus, for an item not at fair value
through profit or loss (“FVTPL”), transaction costs that are directly attributable to its acquisition
or issue. A trade receivable without a significant financing component is initially measured at the
transaction price.
(ii) Classification and subsequent measurement
Non-derivative financial assets
On initial recognition, a financial asset is classified as measured at: amortised cost; fair value
through other comprehensive income (“FVOCI”) – equity investment; or FVTPL.
Financial assets are not reclassified subsequent to their initial recognition unless the Group
changes its business model for managing financial assets, in which case all affected financial
assets are reclassified on the first day of the first reporting period following the change in the
business model.
Notes to the
Financial assets at amortised cost
A financial asset is measured at amortised cost if it meets both of the following conditions and is
not designated as at FVTPL:
• it is held within a business model whose objective is to hold assets to collect contractual cash
flows; and
• its contractual terms give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.
Financial assets: Business model assessment
The Group makes an assessment of the objective of the business model in which a financial asset
is held at a portfolio level because this best reflects the way the business is managed and
information is provided to management. The information considered includes:
• the stated policies and objectives for the portfolio and the operation of those policies in
practice. These include whether management’s strategy focuses on earning contractual
interest income, maintaining a particular interest rate profile, matching the duration of the
financial assets to the duration of any related liabilities or expected cash outflows or realising
cash flows through the sale of the assets;
• how the performance of the portfolio is evaluated and reported to the Group’s management;
• the risks that affect the performance of the business model (and the financial assets held within
that business model) and how those risks are managed; and
• the frequency, volume and timing of sales of financial assets in prior periods, the reasons for
such sales and expectations about future sales activity.
Transfers of financial assets to third parties in transactions that do not qualify for derecognition
are not considered sales for this purpose, consistent with the Group’s continuing recognition of
the assets.
Financial assets that are held-for-trading or are managed and whose performance is evaluated on
a fair value basis are measured at FVTPL.
Non-derivative financial assets: Assessment whether contractual cash flows are solely
payments of principal and interest
For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset
on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for
the credit risk associated with the principal amount outstanding during a particular period of time
and for other basic lending risks and costs (e.g. liquidity risk and administrative costs), as well as
a profit margin.
In assessing whether the contractual cash flows are solely payments of principal and interest, the
Group considers the contractual terms of the instrument. This includes assessing whether the
financial asset contains a contractual term that could change the timing or amount of contractual
cash flows such that it would not meet this condition. In making this assessment, the Group
considers:
• contingent events that would change the amount or timing of cash flows;
• terms that may adjust the contractual coupon rate, including variable rate features;
• prepayment and extension features; and
• terms that limit the Group’s claim to cash flows from specified assets (e.g. non-recourse
features).

A prepayment feature is consistent with the solely payments of principal and interest criterion if
the prepayment amount substantially represents unpaid amounts of principal and interest on the
principal amount outstanding, which may include reasonable additional compensation for early
termination of the contract. Additionally, for a financial asset acquired at a significant discount
or premium to its contractual par amount, a feature that permits or requires prepayment at an
amount that substantially represents the contractual par amount plus accrued (but unpaid)
contractual interest (which may also include reasonable additional compensation for early
termination) is treated as consistent with this criterion if the fair value of the prepayment feature
is insignificant at initial recognition.
Non-derivative financial assets: Subsequent measurement and gains and losses
Financial assets at amortised cost
These assets are subsequently measured at amortised cost using the effective interest method. The
amortised cost is reduced by impairment losses. Interest income, foreign exchange gains and
losses and impairment are recognised in profit or loss. Any gain or loss on derecognition is
recognised in profit or loss.
Non-derivative financial liabilities: Classification, subsequent measurement and gains and

losses
Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability
is classified as at FVTPL if it is classified as held-for-trading or it is designated as such on initial
recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses,
including any interest expense, are recognised in profit or loss. Directly attributable transaction
costs are recognised in profit or loss as incurred.
Other financial liabilities are initially measured at fair value less directly attributable transaction
costs. They are subsequently measured at amortised cost using the effective interest method.
Interest expense and foreign exchange gains and losses are recognised in profit or loss. These
financial liabilities comprised trade and other payables.
(iii) Derecognition
Financial assets
The Group derecognises a financial asset when:

• the contractual rights to the cash flows from the financial asset expire, or
• it transfers the rights to receive the contractual cash flows in a transaction in which either:
- substantially all of the risks and rewards of ownership of the financial asset are transferred
or
- the Group neither transfers nor retains substantially all of the risks and rewards of
ownership and it does not retain control of the financial asset.
Transferred assets are not derecognised when the Group enters into transactions whereby it
transfers assets recognised in its statement of financial position, but retains either all or
substantially all of the risks and rewards of the transferred assets.
Notes to the
Financial liabilities
The Group derecognises a financial liability when its contractual obligations are discharged or
cancelled, or expire. The Group also derecognises a financial liability when its terms are modified
and the cash flows of the modified liability are substantially different, in which case a new
financial liability based on the modified terms is recognised at fair value.
On derecognition of a financial liability, the difference between the carrying amount extinguished
and the consideration paid (including any non-cash assets transferred or liabilities assumed) is
(iv) Offsetting
Financial assets and financial liabilities are offset and the net amount presented in the statement
of financial position when, and only when, the Group currently has a legally enforceable right to
set off the amounts and it intends either to settle them on a net basis or to realise the asset and
settle the liability simultaneously.
(v) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and cash balances with the Accountant-General
Department that are subject to an insignificant risk of change in their fair value.
For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise
cash at bank and cash with the AGD excluding cash at bank not available for general use.
(vi) Share capital
Ordinary shares
Pursuant to Finance Circular Minute No. M26/2008 on capital management framework for
statutory boards, equity injection from the government is recorded as share capital.
(vii) Financial guarantees
Financial guarantees are financial instruments issued by the Group that require the issuer to make
specified payments to reimburse the holder for the loss it incurs because a specified debtor fails
to meet payment when due in accordance with the original or modified terms of a debt instrument.
Financial guarantees issued are initially measured at fair value. Subsequently, they are measured
at the higher of the loss allowance determined in accordance with SB-FRS 109 and the amount
initially recognised less, when appropriate, the cumulative amount of income recognised in
accordance with the principles of SB-FRS 115.
ECLs are a probability-weighted estimate of credit losses. ECLs are measured for financial
guarantees issued as the expected payments to reimburse the holder less any amounts that the
Authority expects to recover.

3.4 Property, plant and equipment
(i) Recognition and measurement
Items of property, plant and equipment are measured at cost, which includes capitalised borrowing
costs, less accumulated depreciation and accumulated impairment losses.
Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of
self-constructed assets includes:
• the cost of materials and direct labour;
• any other costs directly attributable to bringing the assets to a working condition for their
intended use; and
• when the Group has an obligation to remove the asset or restore the site, an estimate of the
costs of dismantling and removing the items and restoring the site on which they are located.
Purchased software that is integral to the functionality of the related equipment is capitalised as
part of that equipment.
If significant parts of an item of property, plant and equipment have different useful lives, they
are accounted for as separate items (major components) of property, plant and equipment.
Any gain or loss on disposal of an item of property, plant and equipment (calculated as the
difference between the net proceeds from disposal and the carrying amount of the item) is
(ii) Depreciation
Depreciation is based on the cost of an asset less its residual value. Significant components of
individual assets are assessed and if a component has a useful life that is different from the
remainder of that asset, that component is depreciated separately.
Depreciation is recognised as an expense in profit or loss on a straight-line basis over the

estimated useful lives of each component of an item of property, plant and equipment, unless it is
included in the carrying amount of another asset.
Depreciation is recognised from the date that the property, plant and equipment are installed and
are ready for use, or in respect of internally constructed assets, from the date that the asset is
completed and ready for use.
The estimated useful lives for the current year are as follows:
• Leasehold land 29 and 30 years

• Right-of-use assets 5 and 30 years
• Office buildings and structures 29 and 30 years
• Site office and land improvement 10 years
• Office, training and mechanical & electrical (M&E) equipment 5 to 10 years
• Furniture, fittings and fixtures 8 years
• Data processing equipment 3 to 5 years
Depreciation methods, useful lives and residual values are reviewed at the end of each reporting
period and adjusted if appropriate.
Notes to the
3.5 Prepaid land lease
Prior to the adoption of SB-FRS 116, the prepaid land lease is measured at cost less accumulated
amortisation and impairment losses. The prepaid land lease is amortised on a straight-line basis
over the lease term of 30 years.
3.6 Impairment
(i) Non-derivative financial assets
The Group recognises loss allowances for expected credit losses (“ECLs”) on financial assets
measured at amortised cost.
Loss allowances of the Group are measured on either of the following bases:
• 12-month ECLs: these are ECLs that result from default events that are possible within the 12
months after the reporting date (or for a shorter period if the expected life of the financial
asset is less than 12 months); or
• Lifetime ECLs: these are ECLs that result from all possible default events over the expected
life of a financial asset or contract asset.
Simplified approach
The Group applies the simplified approach to provide for ECLs for all trade receivables. The
simplified approach requires the loss allowance to be measured at an amount equal to lifetime
ECLs.
General approach
The Group applies the general approach to provide for ECLs on all other financial assets. Under
the general approach, the loss allowance is measured at an amount equal to 12-month ECLs at
initial recognition.
At each reporting date, the Group assesses whether the credit risk of a financial asset has increased
significantly since initial recognition. When credit risk has increased significantly since initial
recognition, loss allowance is measured at an amount equal to lifetime ECLs.
When determining whether the credit risk of a financial asset has increased significantly since
initial recognition and when estimating ECLs, the Group considers reasonable and supportable
information that is relevant and available without undue cost or effort. This includes both
quantitative and qualitative information and analysis, based on the Group’s historical experience
and informed credit assessment and includes forward-looking information.
If credit risk has not increased significantly since initial recognition or if the credit quality of the
financial assets improves such that there is no longer a significant increase in credit risk since
initial recognition, loss allowance is measured at an amount equal to 12-month ECLs.
The Group considers a financial asset to be in default when the borrower is unlikely to pay its
credit obligations to the Group in full, without recourse by the Group to actions such as realising
security (if any is held).
The maximum period considered when estimating ECLs is the maximum contractual period over
which the Group is exposed to credit risk.

Measurement of ECLs
ECLs are probability-weighted estimates of credit losses. Credit losses are measured at the
present value of all cash shortfalls (i.e. the difference between the cash flows due to the Group in
accordance with the contract and the cash flows that the Group expects to receive).
Credit-impaired financial assets
At each reporting date, the Group assesses whether financial assets carried at amortised cost are
credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a
detrimental impact on the estimated future cash flows of the financial asset have occurred.
Evidence that a financial asset is credit-impaired includes the following observable data:
• significant financial difficulty of the borrower or issuer;
• breach of contract such as a default;
• the restructuring of a loan or advance by the Group on terms that the Group would not consider
otherwise; or
• it is probable that the borrower will enter bankruptcy or other financial reorganisation.
Presentation of allowance for ECLs in the statement of financial position
Loss allowances for financial assets measured at amortised cost are deducted from the gross
carrying amount of these assets.
Write-off
The gross carrying amount of a financial asset is written off (either partially or in full) to the
extent that there is no realistic prospect of recovery. This is generally the case when the Group
determines that the debtor does not have assets or sources of income that could generate sufficient
cash flows to repay the amounts subject to the write-off. However, financial assets that are written
off could still be subject to enforcement activities in order to comply with the Group’s procedures
for recovery of amounts due.
(ii) Non-financial assets
The carrying amounts of the Group’s non-financial assets are reviewed at each reporting date to
determine whether there is any indication of impairment. If any such indication exists, then the
asset’s recoverable amount is estimated. An impairment loss is recognised if the carrying amount
of an asset or its related cash-generating unit (CGU) exceeds its estimated recoverable amount.
The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less
costs of disposal. In assessing value in use, the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects current market assessments of the time
value of money and the risks specific to the asset or CGU. For the purpose of impairment testing,
assets that cannot be tested individually are grouped together into the smallest group of assets that
generates cash inflows from continuing use that are largely independent of the cash inflows of
other assets or CGUs.
Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of
CGUs are allocated to reduce the carrying amounts of the other assets in the CGU (group of
CGUs) on a pro rata basis.
Notes to the
Impairment losses recognised in prior periods are assessed at each reporting date for any
indications that the loss has decreased or no longer exists. An impairment loss is reversed if there
has been a change in the estimates used to determine the recoverable amount. An impairment
loss is reversed only to the extent that the asset’s carrying amount does not exceed the carrying
amount that would have been determined, net of depreciation or amortisation, if no impairment
loss had been recognised.
3.7 Trust and agency funds
Trust and agency funds are government grants and contributions from other organisations where
the Authority is not the owner and beneficiary of the funds. The Authority is merely administering
the funds on behalf of the holders of these funds. Income and expenditure of these funds are taken
directly to the funds. The net assets relating to the funds are shown as a separate line item in the
statements of financial position.
Trust and agency funds are accounted for on a cash basis.
3.8 Employee benefits
(i) Defined contribution plans
The Group makes contributions to the Central Provident Fund (“CPF”) scheme in Singapore, a
defined contribution pension scheme. Contributions to defined contribution pension schemes are
recognised as an expense in the period in which the related service is performed.
(ii) Employee leave entitlement
Employee entitlements to annual leave are recognised as a liability when they accrue to the
employees. The estimated liability for leave is recognised for services rendered by employees up
to the end of the reporting period.
(iii) Defined benefit retirement obligations
Provision for pension benefits is made for pensionable officers transferred to the Authority on 1
April 1999. Defined benefit retirement obligations due to pensionable officers are recognised in
the Statements of financial position in accordance with the Pensions Act, Chapter 225.
The Authority had engaged an actuarial to assess the provision for pension costs.
An actuarial valuation is conducted once every four years or as and when required to determine
the cost of pension benefits due to these officers using the Projected Unit Credit Method.
Defined benefit costs comprise the following:
- Service cost
- Interest cost on the provision for defined benefits
- Re-measurements of the provision for defined benefits
Service costs which include current service costs, past service costs and gains or losses on non-
routine settlements are recognised as expense in income or expenditure. Past service costs are
recognised when plan amendment or curtailment occurs.

Interest cost on the provision for defined benefits is the change during the period in the provision
that arises from the passage of time which is determined by applying the discount rate based on
the Singapore Government bond yield to the provision. Interest cost on the provision is recognised
in income or expenditure.
Re-measurements comprising actuarial gains and losses are recognised immediately in other
comprehensive income in the period in which they arise. Re-measurements are recognised in
accumulated surplus within equity and are not reclassified to income or expenditure in subsequent
periods.
(iv) Short-term employee benefits
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed
as the related service is provided.
A liability is recognised for the amount expected to be paid under short-term cash bonus if the
Group has a present legal or constructive obligation to pay this amount as a result of past service
provided by the employee, and the obligation can be estimated reliably.
3.9 Provisions
Provisions are recognised when the Group has a present or constructive obligation that can be
estimated reliably, and it is probable that an outflow of economic benefits will be required to settle
the obligation. Provision are determined by discounting the expected future cash flows at a pre-
tax rate that reflects current market assessments of the time value of money and the risks specific
to the liability. The unwinding of the discount is recognised as finance cost.
(i) Provision for pension cost
As described in Notes 3.8(iii) and 10(a), the Group determines the provision for pension cost due
to pensionable officers based on the expected pay-outs to be made by the Group in respect of
services provided by these pensionable officers up to reporting date.
Any possible change in key assumptions, on which the provision for pension is based, will affect
the amount of employee benefit costs in the income and expenditure account.
(ii) Provision for reinstatement cost
The provision for reinstatement costs from contractual obligation to restore the leased office to
their original states are provided at the present value of expected costs to settle the obligation
using estimated cash flows and are recognised as part of the cost of that particular asset. The cash
flows are discounted at a current pre tax rate that reflects the risks specific to the reinstatement
liability. The unwinding of the discount is expensed as incurred and recognised in profit or loss
as a finance cost. The estimated future costs of reinstatement are reviewed annually and adjusted
as appropriate. Changes in the estimated future costs or in the discount rate applied are added to
or deducted from the cost of the asset.
Notes to the
(iii) Provision for onerous contract
A provision for onerous contracts is recognised when the expected benefits to be derived by the
Group from a contract are lower than the unavoidable cost of meeting its obligations under the
contract. The provision is measured at the present value of the lower of the expected cost of
terminating the contract and the expected net cost of continuing with the contract. Before a
provision is established, the Group recognises any impairment loss on the assets associated with
that contract.
3.10 Revenue
Revenue is recognised when the Group satisfies a performance obligation (PO) by transferring
control of a promised good or service to the customer. The amount of revenue recognised is the
amount of the transaction price allocated to the satisfied PO. The Group assesses its revenue
arrangements to determine if it is acting as principal or agent. The Group has concluded that it is
acting as a principal in all of its revenue arrangements. The following specific recognition criteria
must also be met before revenue is recognised:
• Plan fees are recognised as income over the expected duration of each category of project (by
size and nature of work);
• Advertisement licence fees are recognised as income over the validity periods of the licence;
• Course fees are recognised as income over the duration of the courses;
• Quality assessment fees are recognised as income over the assessment period;
• Certification fees are recognised upon issuance of the certification;
• Trade test fees are recognised as income on completion of trade tests;
• Contractors registration fees are recognised as income over the validity period of the
registration;
• Operating lease income is recognised on a straight-line basis over the lease term;
• Management fees are recognised as income over the period of services rendered; and
• Interest income is recognised using the effective interest method.
Plan fees are recognised as income over the expected duration of each category of projects.
Judgement is required to determine the expected duration of each category of projects based on
historical information on the duration required to complete the projects.
3.11 Government grants
Government grants are recognised initially at fair value when there is reasonable assurance that
they will be received and the Group will comply with all the conditions associated with the grants.
(i) Operating grants from Government
Government grants that compensate the Group for expenses incurred are recognised in profit or
loss on a systematic basis in the same periods in which the expenses are recognised.

(ii) Development grants
Government grants received from other agencies for specific development project expenditure
are recognised as grant received in advance on the statement of financial position and are
recognised in profit or loss on a systematic basis in the same periods in which the development
expenses are recognised.
3.12 Leases
At inception of a contract, the Group assesses whether a contract is, or contains, a lease. A
contract is, or contains, a lease if the contract conveys the right to control the use of an identified
asset for a period of time in exchange for consideration.
(i) As a lessee
At commencement or on modification of a contract that contains a lease component, the Group

allocates the consideration in the contract to each lease component on the basis of its relative
stand-alone prices. However, for the leases of property, the Group has elected not to separate
non-lease components and account for the lease and non-lease components as a single lease
component.
The Group recognises a right-of-use asset and a lease liability at the lease commencement date.
The right-of-use asset is initially measured at cost, which comprises the initial amount of the lease
liability adjusted for any lease payments made at or before the commencement date, plus any
initial direct costs incurred and an estimate of costs to dismantle and remove the underlying asset
or to restore the underlying asset or the site on which it is located, less any lease incentives
received.
The right-of-use asset is subsequently depreciated using the straight-line method from the
commencement date to the end of the lease term, unless the lease transfers ownership of the
underlying asset to the Group by the end of the lease term or the cost of the right-of-use asset
reflects that the Group will exercise a purchase option. In that case the right-of-use asset will be
depreciated over the useful life of the underlying asset, which is determined on the same basis as
those of property and equipment. In addition, the right-of-use asset is periodically reduced by
impairment losses, if any, and adjusted for certain remeasurements of the lease liability.
The lease liability is initially measured at the present value of the lease payments that are not paid
at the commencement date, discounted using the interest rate implicit in the lease or, if that rate
cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses
its incremental borrowing rate as the discount rate.
The Group determines its incremental borrowing rate by using Ministry of Finance’s Cost of
Equity with the Risk-free rate and Market Risk Premium, with adjustments made for tenure, to
reflect the terms of the lease and type of the asset leased.
Notes to the
Lease payments included in the measurement of the lease liability comprise the following:
• fixed payments, including in-substance fixed payments;
• variable lease payments that depend on an index or a rate, initially measured using the index
or rate as at the commencement date;
• amounts expected to be payable under a residual value guarantee; and
• the exercise price under a purchase option that the Group is reasonably certain to exercise,
lease payments in an optional renewal period if the Group is reasonably certain to exercise an
extension option, and penalties for early termination of a lease unless the Group is reasonably
certain not to terminate early.
The lease liability is measured at amortised cost using the effective interest method. It is
remeasured when there is a change in future lease payments arising from a change in an index or
rate, if there is a change in the Group’s estimate of the amount expected to be payable under a
residual value guarantee, if the Group changes its assessment of whether it will exercise a
purchase, extension or termination option or if there is a revised in-substance fixed lease payment.
When the lease liability is remeasured in this way, a corresponding adjustment is made to the
carrying amount of the right-of-use asset, or is recorded in profit or loss if the carrying amount of
the right-of-use asset has been reduced to zero.
Short-term leases and leases of low-value assets
The Group has elected not to recognise right-of-use assets and lease liabilities for leases of low-
value assets and short-term leases, including IT equipment. The Group recognises the lease
payments associated with these leases as an expense on a straight-line basis over the lease term.
(ii) As a lessor
At inception or on modification of a contract that contains a lease component, the Group allocates
the consideration in the contract to each lease component on the basis of their relative stand-alone
prices.
When the Group acts as a lessor, it determines at lease inception whether each lease is a finance
lease or an operating lease.
To classify each lease, the Group makes an overall assessment of whether the lease transfers
substantially all of the risks and rewards incidental to ownership of the underlying asset. If this
is the case, then the lease is a finance lease; if not, then it is an operating lease. As part of this
assessment, the Group considers certain indicators such as whether the lease is for the major part
of the economic life of the asset.
When the Group is an intermediate lessor, it accounts for its interests in the head lease and the
sub-lease separately. It assesses the lease classification of a sub-lease with reference to the right-
of-use asset arising from the head lease, not with reference to the underlying asset. If a head lease
is a short-term lease to which the Group applies the exemption described above, then it classifies
the sub-lease as an operating lease.

3.13 Statutory contribution to consolidated fund
The Authority is required to contribute to the Consolidated Fund based on a percentage of the net
surplus of the Authority for each financial year. The percentage of contribution is determined by
the Ministry of Finance.
3.14 Interest income
Interest income is recognised as it accrues in the statement of comprehensive income, using

effective interest method.
3.15 Tax
Tax expense comprises current and deferred tax. Current tax and deferred tax were recognised in
profit or loss except to the extent that it relates to a business combination, or items recognised
directly in equity or in OCI.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year,
using tax rates enacted or substantively enacted at the reporting date, and any adjustment to tax
payable in respect of previous years. The amount of current tax payable or receivable is the best
estimate of the tax amount expected to be paid that reflects the uncertainty related to income taxes,
if any.
Deferred tax is recognised in respect of temporary differences between the carrying amounts of
assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.
Deferred tax is not recognised for:
• temporary differences on the initial recognition of assets or liabilities in a transaction that is
not a business combination and that affects neither accounting nor taxable profit or loss; and
• temporary differences related to investments in subsidiaries, associates and joint
arrangements to the extent that the Group is able to control the timing of the reversal of the
temporary difference and it is probable that they will not reverse in the foreseeable future.
Deferred tax is measured at the tax rates that are expected to be applied to temporary differences
when they reverse, based on the laws that have been enacted or substantively enacted by the
reporting date.
The measurement of deferred taxes reflects the tax consequences that would follow the manner
in which the Group expects, at the reporting date, to recover or settle the carrying amount of its
asset and liabilities. Deferred tax is measured at the tax rates that are expected to be applied to
temporary differences when they reverse, based on the laws that have been enacted or
substantively enacted by reporting date.
Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current
tax liabilities and assets, and they relate to taxes levied by the same tax authority on the same
taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets
on a net basis or their tax assets and liabilities will be realised simultaneously.
A deferred tax asset is recognised for unused tax losses, tax credits and deductible temporary
differences, to the extent that it is probable that future taxable profits will be available against
which they can be utilised. Deferred tax assets are reviewed at each reporting date and are reduced
to the extent that it is no longer probable that the related tax benefit will be realised.
Notes to the
In determining the amount of current and deferred tax, the Group takes into account the impact
of uncertain tax positions and whether additional taxes and interest may be due. The Group
believes that its accruals for tax liabilities are adequate for all open tax years based on its
assessment of many factors, including interpretations of tax law and prior experience. This
assessment relies on estimates and assumptions and may involve a series of judgements about
future events. New information may become available that causes the Group to change its
judgement regarding the adequacy of existing tax liabilities; such changes to tax liabilities will
impact tax expense in the period that such a determination is made.
3.16 New standards and interpretations not adopted
A number of new standards, interpretations and amendments to standards are effective for annual
periods beginning after 1 April 2021 and earlier application is permitted; however, the Group has
not early adopted the new or amended standards and interpretations in preparing these financial
statements.
The following amended standards and interpretations are not expected to have a significant impact
on the Group’s and the Authority’s financial statements.
• SB-FRS 117 Insurance Contracts and amendments to SB-FRS 117 Insurance Contracts
• Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to SB-FRS 116)
• Reference to the Conceptual Framework (Amendments to SB-FRS 103)
• Property, Plant and Equipment – Proceeds before Intended Use (Amendments to SB-FRS 16)
• Onerous Contracts – Costs of Fulfilling a Contract (Amendments to SB-FRS 37)
• Classification of Liabilities as Current or Non-current (Amendments to SB-FRS 1)
• Annual Improvements to SB-FRSs 2018 – 2020
• Disclosure of Accounting Policies (Amendments to SB-FRS 1 and SB-FRS Practice Statement
2)
• Definition of Accounting Estimates (Amendments to SB-FRS 8)
• Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments
to SB-FRS 12)
4 Property, plant and equipment

Office,
Office Site office training and Furniture, Data
Group and Leasehold Right-of-use buildings and and land M&E fitting and processing Assets under
Authority land assets structures improvement equipment fixtures equipment construction Total
$ $ $ $ $ $ $ $ $
Cost
Balance at 1 April
2020 – 87,022,378 56,637,660 1,894,572 28,205,893 32,705,194 35,379,366 18,335,192 260,180,255
Additions – – – – 40,172 51,454 1,247,048 18,772,160 20,110,834
Reclassification – – – – 3,990 610 1,891,288 (1,895,888) –
Written-off – – (3,213) – (229,295) (224,317) (672,936) – (1,129,761)
At 31 March 2021 – 87,022,378 56,634,447 1,894,572 28,020,760 32,532,941 37,844,766 35,211,464 279,161,328
Balance at 1 April
2021 – 87,022,378 56,634,447 1,894,572 28,020,760 32,532,941 37,844,766 35,211,464 279,161,328
Additions – 1,247,514 – 90,960 756,689 336,654 1,020,848 39,365,771 42,818,436
Reclassification – – 127,566 – 648,087 (339,626) 1,023,081 (1,459,108) –
Disposal – – – – (2,149) – – – (2,149)
Written-off – – – – (2,010,874) (687,169) (1,255,661) (75,658) (4,029,362)
At 31 March 2022 – 88,269,892 56,762,013 1,985,532 27,412,513 31,842,800 38,633,034 73,042,469 317,948,253
ANNUAL REPORT 2021/2022
83
84

Notes to the
Office,
Office Site office training and Furniture, Data
Group and Leasehold Right-of-use buildings and and land M&E fitting and processing Assets under
Authority land assets structures improvement equipment fixtures equipment construction Total
$ $ $ $ $ $ $ $ $
Accumulated
depreciation
Balance at 1 April
2020 – 14,863,858 34,294,608 1,032,192 24,680,511 20,561,357 24,243,143 – 119,675,669
Depreciation for the
year – 7,137,488 1,522,256 166,288 1,791,520 3,369,454 3,891,244 – 17,878,250
Financial Statements (cont’d)
BUILDING AND CONSTRUCTION AUTHORITY AND ITS SUBSIDIARIES
Written-off – – (2,857) – (229,295) (182,256) (548,013) – (962,421)

At 31 March 2020 – 22,001,346 35,814,007 1,198,480 26,242,736 23,748,555 27,586,374 – 136,591,498
Balance at 1 April
2021 – 22,001,346 35,814,007 1,198,480 26,242,736 23,748,555 27,586,374 – 136,591,498
Depreciation for the
year – 7,137,488 954,184 187,663 723,908 2,913,966 4,172,411 – 16,089,620
Disposals – – – – (2,071) – – – (2,071)
Written-off – – – – (2,005,610) (569,916) (1,255,658) – (3,831,184)
At 31 March 2022 – 29,138,834 36,768,191 1,386,143 24,958,963 26,092,605 30,503,127 – 148,847,863
Carrying amounts
At 1 April 2020 – 72,158,520 22,343,052 862,380 3,525,382 12,143,837 11,136,223 18,335,192 140,504,586
At 31 March 2021 – 65,021,032 20,820,440 696,092 1,778,024 8,784,386 10,258,392 35,211,464 142,569,830
At 31 March 2022 – 59,131,058 19,993,822 599,389 2,453,550 5,750,195 8,129,907 73,042,469 169,100,390
Property, plant and equipment includes right-of-use assets of $44,071,479 (2020/2021: $46,029,444) relating to leasehold land and $15,059,579
(2020/2021: $18,991,588) relating to office buildings and structures. See Note 23.
FS25

5 Investments in subsidiaries
Authority
2021/2022 2020/2021
$ $
Unquoted shares, at cost 2 2
The subsidiaries at 31 March 2022 are:
Country of
incorporation and
principal place of Percentage of
Name of subsidiaries business Principal activities ownership interest
2021/2022 2020/2021
% %
BCA International Singapore Construction-related 100 100

Private Limited consultancy and advisory
services
BCA Centre for Singapore Research and consultancy – 100
Sustainable Buildings services for sustainable
Ltd building policies and
climate change
Built Environment Singapore Research and experimental 100 100
Technology Alliance development on
Ltd engineering
BCA Centre for Sustainable Buildings Ltd. has been struck off from the Register of Companies
on 5 July 2021.
6 Trade and other receivables

Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Trade receivables 16,161,373 12,562,567 16,116,574 12,438,567

Other receivables 4,260,082 6,344,795 3,750,050 6,344,795
Lease receivables 80,053,766 114,513,213 80,053,766 114,513,213
Grant receivable 11,917 415,161 11,917 415,161
Amounts due from subsidiaries
– trade – – 300,887 233,083
– non-trade – – 472,696 1,047,274
Deposits 101,331 1,823 101,331 1,823
Trade and other receivables 100,588,469 133,837,559 100,807,221 134,993,916
Prepayments 1,150,871 1,174,750 1,093,671 1,114,425
Total trade and other
receivables 101,739,340 135,012,309 101,900,892 136,108,341
Notes to the
Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Represented by:
Current 60,679,471 77,710,216 60,841,023 78,806,248
Non-current 41,059,869 57,302,093 41,059,869 57,302,093
101,739,340 135,012,309 101,900,892 136,108,341
Other receivables
The other receivables are mainly interests receivables from Accountant-General’s Department
(“AGD”) under the Centralised Liquidity Management (“CLM”) scheme and amount due from
sundry debtors. The amount due from sundry debtors are unsecured and interest-free.
The amounts due from subsidiaries are unsecured, interest-free, repayable on demand and are to
be settled in cash. The outstanding balances are not impaired as at the financial year end.
Impairment losses
In determining the recoverability of a receivable, the Group considers any change in the credit
quality of the receivables from the date credit was initially granted up to the reporting date. If the
financial condition of the customers were to deteriorate, the Group would be required to record
additional impairment losses. Credit risk is limited due to management’s on-going evaluation of
the creditworthiness of the Group’s customers and that majority of the Group’s trade receivables
are within their expected cash collection cycle.
Source of estimation uncertainty
The Group evaluates at the end of each reporting period whether there is any objective evidence
that trade and other receivables are impaired and determines the amount of impairment loss as a
result of the inability of the customers to make required payments having considered the
probability of insolvency and credit-worthiness of its receivables except for the impaired
receivables, the Group believes that no impairment loss is necessary in respect of the remaining
receivables due to the good track record of its customers.
The Group’s exposure to credit risk and impairment losses from trade and other receivables are
disclosed in note 25.

7 Cash and bank balances

Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Cash at bank 11,130,540 12,162,337 848,992 832,130
Cash with the AGD 421,162,634 431,741,516 421,162,634 431,741,516
432,293,174 443,903,853 422,011,626 432,573,646
Less: Cash at bank not available
for general use (18,205,942) (10,419,587) (18,205,942) (10,419,587)
Cash and cash equivalents in
cashflow statement 414,087,232 433,484,266 403,805,684 422,154,059
Cash at bank not available for general use
The Group acts as a collection agent for various parties on certain projects and collects payments
on their behalf.
Cash with the AGD
On 2 November 2009, the Accountant-General’s Department (“AGD”) issued a Circular

No. 4/2009 to centrally manage the cash of all Statutory Boards and Ministries under the
Centralised Liquidity Management (“CLM”) scheme. This scheme aims to achieve higher returns
and to better manage credit risk at the Whole-of-Government level. The Authority has participated
in the CLM scheme since 25 March 2010.
The weighted average CLM yield for the year ended 31 March 2022 is 0.30% per annum
(2020/2021: 0.79%).
8 Fees received in advance

Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
At 1 April 79,361,341 90,539,489 76,027,652 87,176,830

Add: Fees received 105,435,934 75,712,947 105,016,632 75,203,388
Less: Fees recognised as revenue (99,248,937) (86,891,095) (98,991,436) (86,352,566)
At 31 March 85,548,338 79,361,341 82,052,848 76,027,652
Represented by:
Current 57,925,048 52,920,818 54,429,558 49,587,129
Non-current 27,623,290 26,440,523 27,623,290 26,440,523
85,548,338 79,361,341 82,052,848 76,027,652
Notes to the
9 Lease Liabilities
Group and Authority
2021/2022 2020/2021
$ $
Current liabilities
Lease liabilities 58,608,227 72,166,367
Non-current liabilities
Lease liabilities 50,077,186 75,790,740
108,685,413 147,957,107
Reconciliation of movement of liabilities to cash flows arising from financing activities
Lease liabilities
2021/2022 2020/2021
$ $
Restated balance as at 1 April 147,957,107 145,279,438

Changes from financing cash flows
Payment of lease liabilities (65,649,609) (69,824,267)
Interest paid (4,221,098) (5,071,467)
Total changes from financing cash flows (69,870,707) (74,895,734)
Other changes
Interest expense 4,199,223 5,465,400
New leases 26,399,790 72,108,003
Total other changes 30,599,013 77,573,403
Balance as at 31 March 108,685,413 147,957,107
10 Provisions
(a) Provision for pension costs
Group and Authority
2021/2022 2020/2021
$ $
At 1 April 3,314,574 3,425,632

Add: Amount provided during the year 70,867 77,000
3,385,441 3,502,632
Less: Pension paid during the year (180,094) (188,058)
Less: Remeasurement gain during the year (293,987) –
At 31 March 2,911,360 3,314,574
Represented by:
Current 186,290 186,719
Non-current 2,725,070 3,127,855
2,911,360 3,314,574

The above provision includes the provision for pension costs for 12 (2020/2021: 13) pensioners
who have exercised the option for reduced pension with gratuity payment under the pension
scheme other than CPF. There is no employee of the Group who have not exercised any pension
options under the pension scheme. The pension amount to be paid to each employee upon
retirement under the pension scheme is dependent on, among other factors, the number of years
of service and the last drawn salary. The total pension costs are shared between the Group and
the AGD. The Group is only liable for the pension costs for the period of service completed by
the employee with the Group.
The employees are entitled to select one of the following pension options upon retirement:
(i) Full pension;

(ii) Reduced pension with gratuity payment; or
(iii) Fully commuted pension gratuity.
The defined retirement benefits obligations due to pensionable officers are determined based on
the last drawn salaries of the respective pensionable officers and the pensionable officers’
cumulative service period served with the Authority at the time of retirement, assuming that all
pensionable officers work till the age of 62 years.
The provision has been estimated by management based on the valuation of the pension scheme
performed by an independent firm of professional actuaries.
These defined benefit plans expose the Group to actuarial risks, such as longevity risk and interest
rate risk.
The principal assumptions used by the professional actuaries in determining the pension costs are:
• Discount rate – Gratuity : 2.3% per annum (2020/2021: 2.2% per annum)
• Discount rate – Pension : 2.3% per annum (2020/2021: 2.2% per annum)
• Expected salary increment : Nil (2020/2021: Nil)
• Mortality rate : Singapore Mortality Table
• Expected retirement age : 62 (2020/2021: 62)
Assumptions regarding future mortality have been based on published statistics and mortality
tables. The current longevities underlying the values of the defined benefit obligation at the
reporting date were as follows:
2021/2022 2020/2021
Longevity at age 65 for current pensioners

Males 24 21
Females 26 23
At 31 March 2022, the weighted-average duration of the defined benefit obligation was 11 years
(2020/2021: 11 years).
Notes to the
The sensitivity analysis below has been determined based on reasonably possible changes of each
significant assumption on the provision for pension costs as of the end of the reporting period,
assuming all other assumptions were held constant:
Group and Authority

2021/2022 2020/2021
Increase/ Increase/
(decrease) $ (decrease) $
Discount rates + 25 basis points (68,779) + 25 basis points (83,147)

- 25 basis points 71,496 - 25 basis points 86,608
Mortality rates + 1 year 103,044 + 1 year 114,736

- 1 year (104,753) - 1 year (116,909)
(b) Provision for reinstatement costs
Provision for reinstatement cost is the estimated cost of restoring the leased offices to their
original states. The amount has been capitalized in the cost of the property, plant and equipment.
Group and Authority

2021/2022 2020/2021
$ $
At 1 April 794,283 774,003

Add: Amount provided during the year 1,247,514 –
Add: Unwind of discount on reinstatement costs provision 20,280 20,280
At 31 March 2,062,077 794,283
Represented by:
Non-current 2,062,077 794,283
11 Deferred capital grants

Group and Authority
Note 2021/2022 2020/2021
$ $
At 1 April 5,184,886 7,019,720

Add: Government grants received/receivable
- Transferred from grants received in advance 13 3,588,422 52,568
- Other assets received and funding 799,505 –
Less: Amortisation of deferred capital grants (1,733,289) (1,887,402)
At 31 March 7,839,524 5,184,886
Representing
Current 1,154,376 1,739,770
Non-current 6,685,148 3,445,116
7,839,524 5,184,886

12 Other payables and accruals

Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Amounts due to MND (i) 8,736,452 34,332,584 8,736,452 34,332,584

Amounts due to Maritime and
Port Authority of Singapore
(“MPA”) (ii) 566,452 819,973 566,452 819,973
Amounts due to subsidiary – non-
trade(iii) – – 11,917 –
Maintenance deposits 5,555 5,555 5,555 5,555
Sundry creditors(iv) 845,016 1,147,106 845,016 1,147,106
Accruals for unconsumed leave 7,457,256 7,573,934 7,457,256 7,573,934
Accruals for operating expenses 22,067,013 25,062,014 21,716,596 25,052,528
Advances received for Corenet
2.0(v) 4,324,261 – 4,324,261 –
Accruals for the purchase of
property, plant and equipment 7,154,613 2,214,951 7,154,613 2,214,951
Security/tender deposits(vi) 12,973,491 20,604,470 12,973,491 20,604,470
Scholarships 2,529,383 2,786,756 2,529,383 2,786,756
Total other payables and accruals 66,659,492 94,547,343 66,320,992 94,537,857
(i)
Amounts due to MND consists of amount collected on behalf by the Authority and agency
funds received in advance, which amounted to $5,850,226 and $2,886,226 (2020/2021:
$32,059,158 and $2,273,475), respectively.
The amounts collected on their behalf by the Authority for certain projects which the Group
acts as an agent, are unsecured, interest-free, repayable on demand and are to be settled in
cash.
MND has programs to support initiatives in developing Singapore’s economy which the
Authority administers for MND. These projects include infrastructural development
undertaken on behalf of the government, consultancy works and managing government
quarantine facilities.
The Authority disbursed funds to external parties who participated in these programs. The
agency funds payable/receivable from the MND relates to the amount that is received in
advance/to be reimbursed by MND for amounts disbursed. During the year, the agency funds
amounts received from MND and disbursed to external parties are $79,587,210 and
$79,063,803 respectively. In 2020/2021, the agency funds reimbursed from MND and
disbursed to external parties were $63,914,201 and $58,308,658 respectively.
(ii)
The amounts due to MPA mainly pertain to the amounts collected on their behalf by the
Authority for certain projects which the Group acts as an agent. These balances due to MPA
are unsecured, interest-free, repayable on demand and are to be settled in cash.
Notes to the
(iii)
Amount due to subsidiary is unsecured, interest-free and repayable on demand.
(iv)
Sundry creditors are non-interest bearing and normally have an average term of six months.
(v)
This amount was collected in advance from participating agencies in the development of
Corenet 2.0 to fund its future maintenance or enhancement.
(vi)
Included in security/tender deposits is an amount of $7,005,690 (2020/2021: $11,390,066)
collected under the Balcony Bonus Gross Floor Area Incentive Scheme.
13 Grants received in advance

Operating grants Development grants Total
Note 2021/2022 2020/2021 2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $ $ $
Group and Authority
At 1 April – – 72,775 65,840 72,775 65,840

Government grants received/receivable 91,959,358 109,463,086 – – 91,959,358 109,463,086
Interest Earned – – 2,334 6,935 2,334 6,935
Transfer to deferred capital grants 11 (3,588,422) (52,568) – – (3,588,422) (52,568)
Transfer to lease receivables – (22,237,731) – – – (22,237,731)
Transfer to profit or loss (88,370,936) (87,172,787) – – (88,370,936) (87,172,787)
At 31 March – – 75,109 72,775 75,109 72,775
ANNUAL REPORT 2021/2022
93
Notes to the
14 Provision for contribution to consolidated fund

The Authority is required to make contributions to the Consolidated Fund in accordance with the
Statutory Corporations (Contributions to Consolidated Fund) Act, Chapter 319A and in
accordance with the Finance Circular Minute No. M5/2005 with effect from 1 April 2004. The
contribution is based on a percentage, as decided by the Ministry of Finance, of the net surplus of
the Authority for the financial year. The percentage for FY2021/2022 is prevailing corporate tax
of 17% (2020/2021: 17%).
The total contribution for the year can be reconciled to the total comprehensive income as follows:
Authority
2021/2022 2020/2021
$ $
Surplus/(deficit) of the Authority subject to contribution 20,276,107 (581,330)
Contribution at 17% (2020/2021: 17%) 3,446,938 –
15 Share capital
Group and Authority
2021/2022 2020/2021
No. of shares $ No. of shares $
Group and Authority:

At 1 April 8,447,600 8,447,600 6,047,600 6,047,600
Issue of ordinary shares 21,379,578 21,379,578 2,400,000 2,400,000
At 31 March 29,827,178 29,827,178 8,447,600 8,447,600
The shares are held by the Ministry of Finance, a body corporate incorporated by the Minister for
Finance (Incorporation) Act (Chapter 183).
The holders of these shares are entitled to receive dividends as and when declared by the
Authority. These shares carry neither voting rights nor par value.
16 Capital account
The capital account comprises the carrying amount of property, plant and equipment transferred
from the former Building Control Division of the Public Works Department and the net value of
assets and liabilities transferred from the former Construction Industry Development Board when
the Authority was established on 1 April 1999.

17 Net assets of trust and agency funds

The trust and agency funds comprise 16 funds (2020/2021: 19 funds) managed by the Authority
on behalf of other agencies.
The following funds were set up by the Ministry of National Development:
(a) MND Research Fund
The MND Research Fund provides support for applied Research and Development projects
to raise the quality of life in Singapore. The Authority is both the administrator and a
recipient of the MND Research Fund.
(b) Accessibility Fund
The Accessibility Fund provides support to private building owners to provide basic
accessibility features in their buildings.
(c) Green Mark Incentive Scheme (New Buildings)
The Green Mark Incentive Scheme (New Buildings) provides support to private developers
and owners to attain higher Green Mark ratings for their developments by adopting Green
Building technologies in new construction projects.
(d) Green Mark Incentive Scheme (Existing Buildings)
The Green Mark Incentive Scheme (Existing Buildings) provides support to private
developers and building owners to improve energy efficiency of their existing buildings.
(e) Green Mark Incentive Scheme (Design Prototype)
The Green Mark Incentive Scheme (Design Prototype) supports efforts invested into the
design stage of green buildings to achieve higher energy efficiency.
(f) Green Mark Incentive Scheme (Existing Buildings and Premises)
The Green Mark Incentive Scheme (Existing Buildings and Premises) provides support to
SME building owners and tenants to embark on environmental sustainability and improve
energy efficiency (EE) standards of their buildings and premises.
(g) Sustainable Construction Capability Development Fund
The Sustainable Construction Capability Development Fund supports capabilities

development in delivering sustainable materials and adopting sustainable construction
methods.
The remaining balance has been returned to MND in August 2021.

Notes to the
(h) Building Retrofit Energy Efficiency Financing Scheme
The Building Retrofit Energy Efficiency Financing Scheme provides financial assistance to
the less financially strong building owners, MCST and Energy Services Companies to carry
out building retrofits. For applications received since the start of the scheme till 31 March
2018, Ministry of Finance (MOF) bears a portion of the risk if there is a default in payment
by the applicants, and the remaining risk is borne by the financial institutions. For application
received from 1 April 2018, BCA bears a portion of the risk if a default by applicants occurs
and the remaining risk is borne by the financial institutions.
At 31 March 2022 and 31 March 2021, the risk shared by the scheme owner on the
outstanding banking facilities amounted to S$1,415,510 and S$2,085,232 respectively.
(i) Built Environment Assistance Package
The Built Environment Assistance Package is one of the support measures approved by
Ministry of Finance as part of the Fortitude Budget announced in May 2020 to help the Built
Environment sector amid the COVID-19 pandemic.
(j) Smart Facilities Management Proof-of-Concept Grant
The Smart Facilities Management Proof-of-Concept Grant was developed to kickstart the
adoption of integrated and aggregated smart facilities management.
In March 2022, the Authority has decided to fund the projects under this scheme internally.
The following funds were granted by the Productivity Fund Administration Board:
(k) Construction Productivity and Capability Fund
The Construction Productivity and Capability Fund inclusive of Construction Industry

Transformation Map grant aims to transform the construction sector through workforce
development, technology adoption and capability development.
(l) SkillsFuture Study Awards for Built Environment Sector
The SkillsFuture Study Awards targets Singaporeans in their early to mid-career stages with
the skills needed for quality jobs, by encouraging them to develop and deepen specialised
skills in areas of demand required by future economic growth sectors.

The following fund was granted by the SkillsFuture Singapore Agency with the aim to meet the
long term requirements of the building and construction industry for different groups of
professionals:
(m) Workplace Safety and Health Professionals Workforce Skills Qualifications Framework
Grant
The Workplace Safety and Health (WSH) Professionals Workforce Skills Qualifications
(WSQ) Framework Grant aims to build a pool of skilled workers to meet the long term
requirements of the WSH professionals. The Grant offers Training and Assessment and
Assessment-Only-Pathway, which leads to qualifications under the WSQ system.
The following fund was set up by Ministry of National Development and Sino-Singapore Tianjin
Eco-City Administrative Committee (ECAC):
(n) MND-ECAC Research Fund

The MND-ECAC Research Fund supports green building research and development projects
between Singapore and China in the Sino-Singapore Tianjin Eco-City.
The following funds were set up by the National Research Fund:
(o) Energy Innovation Research Programme for Building Energy Efficiency Grant
The Energy Innovation Research Programme for Building Energy Efficiency Grant is meant
for the administration and managing of the Energy Innovation Research Programme (EIRP)
funding in the area of Building Energy Efficiency and to champion and coordinate green
building R&D.
(p) Green Buildings Innovation Cluster
The Green Buildings Innovation Cluster aims to accelerate commercialisation of promising

building energy-efficient technologies and solutions, and bring them closer to market
adoption.
The following fund was granted by the Workforce Singapore:
(q) Professional Conversion Programme for BIM Professionals
The Professional Conversion Programme aims to equip mid-career job seekers with the
necessary knowledge and skills to take on a new career in the built environment industry.
The following grant was launched by the Authority, National Environment Agency and Economic
Development Board:
(r) Grant for Low-GWP Refrigerant Chillers
The Grant for Low-GWP (Global Warming Potential) Refrigerant Chillers aims to
encourage companies to make an early switch to water-cooled chillers using lower GWP
refrigerants. The Authority will be administering the grant for existing buildings.
Notes to the
Details of the trust and agency funds are set out below and have been prepared from the records
of the trust and agency funds and reflect only transactions handled by the Group and the
Authority:
Group and Authority

2021/2022 2020/2021
$ $
At 1 April 23,006,035 47,360,229

Add: Receipts
- Grants received 54,147,121 350,486,224
- Interest income 25,159 206,024
- Others 636,129 39,762
- Grants to be received (88,955) (219,000)
54,719,454 350,513,010
Less: Disbursements to:

- External Parties (53,301,984) (369,317,565)
- The Authority (1,816,999) (1,054,062)
Secretariat fee paid to the Authority (4,282,040) (4,494,001)
Amounts paid as bank charges (124) (1,576)
(59,401,147) (374,867,204)
At 31 March 18,324,342 23,006,035
Represented by:
Cash at bank 4,602,378 10,658,963
Cash with AGD 13,721,964 12,347,072
Total cash representing net assets as at 31 March 18,324,342 23,006,035
18 Commitment
(a) Capital commitments
Capital expenditure approved by the Group but not provided for in the financial statements is as
follows:
Group and Authority

2021/2022 2020/2021
$ $
Amount approved and committed 65,365,527 85,472,138
Amount approved but not committed 6,382,673 620,000


19 Operating income
The following table provides information about the nature and timing of the satisfaction of
performance obligations in contracts with customers, including significant payment terms, and
the related revenue recognition policies:
Plan fees
Nature of Fees received for the processing of the applications for plans relating to
services building works.
When revenue Over the expected duration of each category of project (by size and nature of
is recognised work).
Significant For protective and administrative reasons, payment is received upfront when
payment terms the application is submitted. Payment is made before the Authority processes
and approves the plans. As such, no financing component has been recognised
as the payment terms are for reasons other than financing.
Obligations No return will be made for withdrawal of applications made.

for returns
and returns, if
any
Advertisement licence fees
Nature of Fees received for providing the licence for placement of outdoor signboard/
services advertising sign.
When revenue Over the validity periods of the licence.
is recognised
and approves the licence. As such, no financing component has been
recognised as the payment terms are for reasons other than financing.
Course fees
Nature of Fees received for conducting courses which includes certification courses for
services professionals, short courses for continuing development, seminars,
conference, workshop, specialist Diploma program, Diploma program and
safety courses in pertaining to construction administration and management.
When revenue Over the duration of the course.
is recognised
Significant Payment is received before the course is conducted. There is no significant
payment terms financing arrangement as this is the industry norm when payment must be
made before the participant can attend the course.
Notes to the
Quality assessment fees
Nature of Fees received for Conquas, Quality Mark and Green Mark assessments.
services
When revenue Over the assessment period.
is recognised
payment terms the application is submitted. Payment is made before BCA processes and
approves the assessments. As such, no financing component has been
Certification fees
Nature of Fees received for work performed for ISO and OHSAS certifications.
services
When revenue Upon issuance of the certification.
is recognised
payment terms the application is submitted. Payment is made before BCA processes and
approves the certification. As such, no financing component has been
Trade test fees
Nature of Fees received for conducting trade test to certify construction workers’ skills
services sets.
When revenue On completion of the trade tests.
is recognised
payment terms the application is submitted. As such, no financing component has been
Contractor registration fees
Nature of Contractor registration fees are collected from contractors who wished to be
services registered with BCA Contractors Registration System (CRS).
When revenue Over the validity period of the registration.
is recognised
and approves the registration. As such, no financing component has been

Management fees
Nature of Fees received for administration of trust and agency funds and operating leases
services for purpose-built dormitories, integrated construction and prefabrication hubs
and others.
When revenue Over the period of the services rendered.
is recognised
Significant For administration of trust and agency funds and projects on behalf of MND,
payment invoices are raised after service is rendered on a monthly/quarterly basis. For
terms operating leases for purpose-built dormitories, ready-mix concrete sites and
integrated construction and prefabrication hubs, invoices are raised at the
beginning of each month and are payable within 7 days.
Source of estimation uncertainty
Plan fees are recognised as income over the expected duration of each category of projects. The
Group reviews the estimated duration of the projects regularly in order to determine the amount
of revenue to be recorded at each financial year. Changes in the expected duration of the projects
could impact the revenue and consequently affect the Group’s results.
20 Employee benefit costs

Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Salaries, allowances and bonus 116,182,129 111,805,161 115,356,318 110,736,833

Central Provident Fund
contribution 16,569,933 15,920,680 16,457,139 15,764,274
Pension benefits 70,867 91,905 70,867 91,905
Other staff costs 149,106 153,402 149,106 153,402
132,972,035 127,971,148 132,033,430 126,746,414
Notes to the
21 Tax expense
Subsidiaries of the Authority are subject to tax under Section 10(1) and Section 11(2) of the
Singapore Income Tax Act:
Group
2021/2022 2020/2021
$ $
Current tax expense
Current year 26,678 2,727
Underprovision in prior year 340,000 –
366,678 2,727
Reconciliation of effective tax rate
Surplus before contribution to consolidated fund and

taxation 19,966,685 959,502
Less: The Authority’s surplus before contribution to
consolidated fund and income tax expense (20,276,107) 118,909
Subsidiaries’ (deficit)/surplus before income tax
expense (309,422) 1,078,411
Tax at statutory rate of 17% (2020/2021: 17%) (52,602) 183,330

Tax exempt income 52,602 (195,153)
Non-deductible items 26,678 14,550
Underprovision in prior year 340,000 –
Tax expense 366,678 2,727
In respect of deferred tax assets not recognised, there is nil unutilised tax losses (2020/2021:
$1,039,431) available for offset against future taxable profits, as BCA Centre for Sustainable
Buildings Ltd. has been struck off from the Register of Companies on 5 July 2021.

22 Surplus for the year

The following items have been included in arriving at surplus for the financial year:
Group Authority
2021/2022 2020/2021 2021/2022 2020/2021
$ $ $ $
Builders licensing fees (2,270,788) (2,272,551) (2,270,788) (2,272,551)

Importers licensing fees (3,083,538) (1,841,142) (3,083,538) (1,841,142)
Royalty fees (18,900) – (18,900) –
Impairment loss on receivables 1,455,307 9,591,598 1,455,307 9,591,598
Input GST disallowed 3,529,864 5,119,487 3,529,864 5,119,487
Property tax 1,249,900 1,254,037 1,249,900 1,254,037
Contribution to consolidated fund 3,446,938 – 3,446,938 –
Loss on lease modification 214,014 – 214,014 –
Grant income related to lease
modification – (8,925,574) – (8,925,574)
Publicity materials expense 417,429 1,262,598 417,429 1,262,598
Expenses relating to Covid-19 1,867,777 4,522,802 1,867,777 4,522,802
Employee benefit costs relating to
Covid-19 (included in Note 20) 7,011,129 5,558,628 7,011,129 5,558,628
Staff training 758,836 562,551 758,836 562,551
Board members’ allowances 112,500 123,750 112,500 123,750
Foreign exchange loss 1,537 7,375 1,537 7,375
Interest income
- Interest income from cash and
cash equivalents 1,159,789 3,516,772 1,159,789 3,516,772
- Interest income on lease
receivables 3,570,088 4,736,681 3,570,088 4,736,681
4,729,877 8,253,453 4,729,877 8,253,453
Interest expenses
- Interest expenses on lease
liabilities 4,199,223 5,465,400 4,199,223 5,465,400
- Unwind of discount on
reinstatement costs provision 20,280 20,280 20,280 20,280
- Interest expenses on late
payment 306,586 24 306,586 24
4,526,089 5,485,704 4,526,089 5,485,704
Notes to the
23 Leases
Leases as lessee (SB-SB-FRS 116)
The Group leases assets including leasehold land, foreign workers’ dormitories, integrated
construction and precast hubs, office space and others. Previously, these leases were classified as
operating leases under SB-SB-FRS17.
Information about leases for which the Group is a lessee is presented below.
Right-of-use assets
Right-of-use assets related to leased properties that do not meet the definition of investment
property and are presented as property, plant and equipment (see note 4).
Leasehold Office
land and buildings and
Group and Authority building structures Total
$ $ $
Balance at 1 April 2021 47,987,409 24,171,111 72,158,520

Additions to right-of-use assets 72,108,003 – 72,108,003
Depreciation charge for the year (1,957,965) (5,179,523) (7,137,488)
Derecognition of right-of-use assets as a result
of entering into finance sub-lease (72,108,003) – (72,108,003)
Balance at 1 April 2021 46,029,444 18,991,588 65,021,032
Additions to right-of-use assets 26,399,790 1,247,514 27,647,304
Depreciation charge for the year (1,957,965) (5,179,523) (7,137,488)
Derecognition of right-of-use assets as a result
of entering into finance sub-lease (26,399,790) – (26,399,790)
Balance at 31 March 2022 44,071,479 15,059,579 59,131,058
(a) The foreign workers’ dormitories leased from Singapore Land Authority has a remaining
tenure ranging from 1 year to 3 years. The integrated construction and precast hub leased
from JTC Corporation has a remaining tenure of 21 years. The foreign workers’ dormitories
and integrated construction and precast hub were sub-leased to third parties with the same
tenure period.
(b) The Group leases industrial lands for the development of the integrated construction and
precast hub. As the leases were prepaid by the Group, no lease liabilities were recognised.
(c) During the financial year, the Group renewed leases for foreign workers’ dormitories. The
foreign workers’ dormitories leased from Singapore Land Authority is for the period till
2024. Right-of-use assets of $26,399,790 (2020/2021: $72,108,003) and lease liabilities of
$26,399,790 (2020/2021: $72,108,003) were recognised.
The foreign workers’ dormitories were sub-leased to third parties with the same tenure
period. Accordingly, the right-of-use assets of $26,399,790 (2020/2021: $72,108,003) were
derecognised and instead lease receivables of $26,399,790 (2020/2021: $72,108,003) were
recognised.

Amounts recognised in profit or loss:
2021/2022 – Lease under SB-SB-FRS 116 $
Interest on lease liabilities 4,199,223

Expenses relating to short-term leases 1,657,911
Expenses relating to non-lease component 1,891,049
Expenses relating to leases of low-value assets, excluding
short-term leases of low-value assets 793,370
2020/2021 – Lease under SB-SB-FRS 116 $
Interest on lease liabilities 5,465,400

Expenses relating to short-term leases 1,664,612
Expenses relating to non-lease component 1,892,085
Expenses relating to leases of low-value assets, excluding
short-term leases of low-value assets 945,784
Amounts recognised in the statement of cash flows:
2021/2022 2020/2021
$ $
Total cash outflow for leases 69,870,707 74,895,734
Leases as lessor (SB-SB-FRS 116)
For the sub-leases of the foreign workers’ dormitories, ready-mixed concrete sites and integrated
construction and precast hubs, interest income on lease receivables of $3,570,088 (2020/2021:
$4,736,681) were recognised by the Group.
The following table sets out a maturity analysis of lease receivables, showing the undiscounted
lease payments to be received after the reporting date.
Group
2021/2022 2020/2021
$ $
- Less than one year 45,401,849 64,161,986

- One to two years 19,849,099 35,929,121
- Two to three years 6,812,599 10,376,371
- Three to four years 1,247,599 1,314,871
- Four to five years 1,247,599 1,314,871
- More than five years 19,857,611 22,243,238
Total undiscounted lease receivables 94,416,356 135,340,458
Unearned finance income (10,047,966) (12,810,566)
Impairment loss (4,314,624) (8,016,679)
Net investment in the lease 80,053,766 114,513,213
Notes to the
24 Related party
In addition to the related party information disclosed elsewhere in the financial statements,
significant transactions between the Group and related parties took place on terms agreed between
the parties during the financial year. The balances are unsecured, interest-free, repayable on
demand and to be settled in cash, unless otherwise stated.
Key management personnel compensation
Key management personnel of the Group are those persons having the authority and responsibility
for planning, directing and controlling the activities of the entity. The Board members and
executive key management are considered as key management personnel of the Group.
The compensation to key management personnel is as follows:
Group and Authority

2021/2022 2020/2021
$ $
Short-term benefits 6,935,056 6,847,388

CPF contributions 356,215 367,611
Termination benefits 13,000 13,000
7,304,271 7,227,999
Other related parties transactions
During the financial year, the Group entered into the following transactions with related parties
(i.e. entities in which the Board members have control or joint control) which are not government-
related entities:
Group and Authority
2021/2022 2020/2021
$ $
Plan fees 505,824 110,798

Advertisement licence fees 25,108 66,090
Course fees 105,584 193,721
Quality assessment fees – 143,447
Certification fees 2,744 2,744
Trade test fees 270,900 –
Contractor registration fees 804 4,146
Management fees 1,262 88,460
Other income 361,342 188,125
Employee benefit costs 910,922 217,885
Course and programme expenses (1,084,376) (270,638)
Repairs and maintenance (2,393) (2,209)
Staff training expense (31,080) (3,496)
Other expenditure (90,646) (177,879)

Government-related entities transactions
The Singapore Government has control over the Authority, as well as Ministries, Organs of States
and other Statutory Boards.
Collectively, but not individually significant transactions
The Authority is a Statutory Board under the Ministry of National Development (“MND”),
championing the development of an excellent built environment for Singapore. “Built
environment” refers to buildings, structures and infrastructure in our surroundings that provide
the setting for the community’s activities.
The Authority charges fees for the services provided. Collectively, income generated from the
fees received from and provision of training and other services to Ministries, Organs of States and
other Statutory Boards constitute 12% (2020/2021: 2%) of the total operating income. Purchase
of supplies and services from Ministries, Organs of States and other Statutory Boards constitute
6% (2020/2021: 10%) of the total operating expenditure.
These transactions are conducted in the ordinary course of the Authority’s business on terms
comparable to those with other entities that are not government-related.
25 Financial instruments
(i) Financial risk management
Overview
The Group has exposure to the following risks arising from financial instruments:
• credit risk
• liquidity risk
• market risk
This note presents information about the Group’s exposure to each of the above risks, the Group’s
objectives, policies and processes for measuring and managing risk, and the Group’s management
of capital.
Risk management framework
The Group and the Authority are exposed to financial risks arising from its operations and the use
of financial instruments. The Group has documented financial risk management policies. These
policies set out the Group’s overall business strategies and its risk management philosophy. The
Group’s overall financial risk management programme seeks to minimise potential adverse
effects of the financial performance of the Group. Such written policies are reviewed annually by
the management and periodic reviews are undertaken to ensure that the Group’s policy guidelines
are complied with. The key financial risks arising from the Group’s financial instruments are
liquidity risk and credit risk.
The Group does not hold or issue derivative financial instruments for trading purposes. The board
reviews and agrees policies for managing each of these risks and they are summarised below.
Notes to the Building and Construction Authority

Financial Statements (cont’d) and its Subsidiaries
Year ended 31 March 2022 Year ended 31 March 2022
Credit risk
Credit risk is the risk of loss that may arise on outstanding financial instruments should a
counterparty default on its obligations. The Group’s and the Authority’s exposure to credit risk
arise primarily from trade and other receivables. For other financial assets (including cash and
bank balances), the Group and the Authority minimise credit risk by dealing exclusively with high
credit rating counterparties.
Before accepting any new customer, the Group assesses the potential customer’s credit quality.
A majority of the Group's receivables that are neither past due nor impaired are credit worthy
counterparties with good track record of credit history.
In determining the recoverability of a receivable, the Group considers any change in the credit
quality of the receivable from the date credit was initially granted up to the end of the reporting
period. If the financial condition of the customers were to deteriorate, the Group would be
required to record additional impairment losses. Credit risk is limited due to management’s on-
going evaluation of the credit worthiness of the Group’s customers and given that the majority of
the Group’s trade receivables are within their expected cash collection cycle.
Credit risk concentration profile
The Group determines concentration of credit risk by monitoring the customer profile of its trade
and other receivables on an ongoing basis.
At the end of the financial year, approximately 40% (2020/2021: 32%) of the Group’s trade and
other receivables (excluding lease receivables) was due from 1 (2020/2021: 3) major customer
with a total balance of $11,019,330 (2020/2021: $6,885,830) located in Singapore.
Expected credit loss assessment (“ECL”) as at 31 March 2021 and 31 March 2022
The Group uses an allowance matrix to measure the ECLs of trade receivables. Loss rates are
based on actual credit loss experience. Management considers the differences between economic
conditions during the period over which the historical data has been collected, current conditions
and the Group’s view of economic conditions over the expected lives of the receivables. The
amount of the allowance on these balance is insignificant.
The following tables provide information about the exposure to credit risk and ECLs for trade and
other receivables as at 31 March 2022:
2021/2022 2020/2021
Gross Gross
carrying Impairment carrying Impairment
amount losses amount losses
$ $ $ $
Group
Not past due 99,159,737 (4,417,349) 135,779,213 (8,096,896)
Past due
- less than 3 months 3,266,317 – 7,656,140 (1,574,190)
- 3 months to 6 months 2,120,872 (617) 22,121 –
- more than 6 months
to 12 months 5,560,981 (5,122,773) 16,404 (1,842)
- more than 12 months 1,675,865 (1,654,564) 103,677 (67,068)
111,783,772 (11,195,303) 143,577,555 (9,739,996)

2021/2022 2020/2021
Gross Gross
carrying Impairment carrying Impairment
amount losses amount losses
$ $ $ $
Authority
Not past due 99,423,289 (4,417,349) 136,935,570 (8,096,896)
Past due
- less than 3 months 3,221,517 – 7,656,140 (1,574,190)
- 3 months to 6 months 2,120,872 (617) 22,121 –
- more than 6 months to
12 months 5,560,981 (5,122,773) 16,404 (1,842)
- more than 12 months 1,675,865 (1,654,564) 103,677 (67,068)
112,002,524 (11,195,303) 144,733,912 (9,739,996)
At 31 March 2022, the individual impairment losses of the Group and the Authority related to
several customers that had indicated that they were not expecting to be able to pay their
outstanding balances, mainly due to economic circumstances.
Movement in allowance for impairment in respect of trade and other receivables
The movement in the allowance for impairment in respect of trade and other receivables during
the year was as follows:
Group and
Authority
Lifetime ECL
$
At 1 April 2020 per SB-FRS109 148,398

Allowance for impairment loss 9,591,598
At 31 March 2021 per SB -FRS109 9,739,996
At 1 April 2021 per SB -FRS109 9,739,996

Allowance for impairment loss 1,455,307
At 31 March 2022 per SB -FRS109 11,195,303
The Group and the Authority believe that the unimpaired amounts are still collectible in full,
based on historic payment behaviour and extensive analyses of customer credit risk.
Financial guarantees
The Group participated in an agreement with financial institutions to provide financial guarantees
to qualifying scheme applicants since 1 April 2018 under The Building Retrofit Energy Efficiency
Financing (“BREEF”) Scheme. As at 31 March 2022 and 31 March 2021, the Authority has an
outstanding guarantee to a bank in respect of credit facilities granted to 1 (2020/2021: 1) scheme
applicant. The guarantee is subject to the impairment assessment under SB-FRS 109.
At 31 March 2022 and 31 March 2021, the risk shared by the Authority on the outstanding banking
facility amounted to S$311,539 and S$602,929 respectively.
Notes to the Building and Construction Authority

Financial Statements (cont’d) and its Subsidiaries
Year ended 31 March 2022 Year ended 31 March 2022
The Authority has assessed that the scheme applicants have strong financial capacity to meet the
contractual cash flow obligations in the near future and hence, does not expect significant credit
losses from these guarantees. The Authority’s assessment is based on qualitative and quantitative
factors that are indicative of the risk of default (including but not limited to external ratings,
audited financial statements, management accounts and applying experienced credit judgement).
Cash and bank balances
The Group and the Authority held cash and bank balances of $432,293,174 and $422,011,626 at
31 March 2022 (2020/2021: $443,903,853 and $432,573,646) respectively. The cash and bank
balances are held with bank and financial institution counterparties which are rated P-1, based on
Moody’s ratings. The Authority participated in the Centralised Liquidity Management scheme
starting from 25 March 2010.
Impairment on cash and bank balances has been measured on the 12-month expected loss basis
and reflects the short maturities of the exposures. The Group and the Authority consider that its
cash and bank balances have low credit risk based on the external credit ratings of the
counterparties. The amount of the allowance on cash and bank balances is negligible.
Liquidity risk
Liquidity risk is the risk that the Group will encounter difficulty in meeting financial obligations
due to shortage of funds. The Group’s exposure to liquidity risk arises primarily from mismatches
of the maturities of financial assets and liabilities. The Group manages the liquidity risk by
maintaining sufficient cash and bank balances to enable them to meet their normal operating
commitments.
Analysis of financial instruments by remaining contractual maturities
The table below summarises the maturity profile of the Group’s and the Authority’s financial
liabilities, which are not measured at fair value, at the end of the reporting period based on
contractual undiscounted repayment obligations.
Cash flows
Carrying Contractual Less than Between After
amount cash flows 1 year 1 and 5 years 5 years
$ $ $ $ $
Group
31 March 2021/2022
Non-derivative financial
liabilities
Trade payables # 6,938,937 6,938,937 6,938,937 – –
Other payables and
accruals* 54,877,975 54,877,975 54,877,975 – –
Lease liabilities 108,685,413 119,401,325 61,110,587 39,680,724 18,610,014
Financial guarantee
contracts** – 311,538 155,769 155,769 –
170,502,325 181,529,775 123,083,268 39,836,493 18,610,014

Cash flows
Carrying Contractual Less than Between After
amount cash flows 1 year 1 and 5 years 5 years
$ $ $ $ $
Group
31 March 2020/2021
liabilities
Trade payables # 6,968,184 6,968,184 6,968,184 – –
Other payables and
accruals* 86,973,409 86,973,409 86,973,409 – –
Financial guarantee
contracts** – 602,928 200,976 401,952 –
241,898,700 256,609,275 170,186,882 65,494,026 20,928,367
Authority
31 March 2021/2022
liabilities
Trade payables # 6,891,782 6,891,782 6,891,782 – –
Other payables and
accruals* 54,539,475 54,539,475 54,539,475 – –
Financial guarantee
contracts** – 311,538 155,769 155,769 –
170,116,670 181,144,120 122,697,613 39,836,493 18,610,014
31 March 2020/2021
liabilities
Trade payables # 6,968,184 6,968,184 6,968,184 – –
Other payables and
accruals* 86,963,923 86,963,923 86,963,923 – –
Financial guarantee
contracts** – 602,928 200,976 401,952 –
241,889,214 256,599,789 170,177,396 65,494,026 20,928,367
# Excluded GST payable

* Excluded accruals for unconsumed leave and advance received for Corenet 2.0
** The disclosure represents the maximum amount that is required to be settled in the event of default by
scheme applicants.
Market risk
There has been no change to the Group’s exposure to these financial risks or the manner in which
it manages and measures the risk. Market risk exposures are measured using sensitivity analysis
indicated below.
Interest rate risk management
The Group’s interest-bearing financial instruments mainly relates to cash and bank balances
which are all short-term. Hence, management does not expect future fluctuations in interest rates
to have significant impact on the Group’s results or cash flows.
Notes to the
(ii) Fair values of financial instruments
The fair value of a financial instrument is the amount at which the instrument could be exchanged
or settled between knowledgeable and willing parties in an arm's length transaction, other than in
a forced or liquidation sale.
Financial instruments whose carrying amount approximates fair value
Management has determined that the carrying amounts of trade and other receivables, amounts
due from its subsidiaries, cash and bank balances, trade and other payables reasonably
approximate their fair values because these are mostly short-term in nature.
(iii) Capital risk management policies and objectives
The capital structure of the Authority consists of share capital, capital account and accumulated
surplus. The Authority manages its capital to ensure it will be able to continue as a going concern
and in accordance with the Capital Management Framework formulated by the Ministry of
Finance. The framework sets out the basis of equity contribution by the Government to the
Authority and the principle of dividend distribution to the Government. The Authority's overall
strategy remains unchanged from the previous financial year.
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ACCELERATING INDUSTRY

BCA is committed to good corporate governance. We have put

BOARD MEMBERS FINANCE AND AUDIT

I thank industry stakeholders across the value chain

GATHERING PACE IN INDUSTRY These transformation efforts offer the

The transformation of the Built Environment sector

We are grateful for the commitment displayed

1 / CHAIRMAN 7 / BOARD MEMBER

4 / BOARD MEMBER 11 / BOARD MEMBER

BCA Organisation Structure

MR CHIN CHI LEONG MR NEO CHOON KEONG

MR DARREN LIM AR. LEONG-KOK SU-MING

ER. TAN CHUN YONG MR JONATHAN CHENG

ER. CLEMENT TSENG

ER. THANABAL KALIANNAN

MR TEO ORH HAI

ER. CHEW KEAT CHUAN

MR HENG TECK THAI MS JEANNA DAS

Mr Jonathan Cheng MR TEO JING SIONG

MR REGINALD WEE Legal

Keeping Worksites COVID-Safe Ensuring Safe Management Measures

SMM WORKSITE INSPECTIONS

Responding Nimbly to Contain Onsite

Providing Timely COVID-related Updates

Improving Preparedness for Future Transiting to a New Normal

A Good Practice Guidebook for pandemics was

Most companies were

In supporting the Built Environment sector to restart works in a controlled manner,

COVID-Response Training COVID-Safe Outreach Programmes

Trained over Conducted COVID-Safe

15,400 outreach webinars,

ART supervision training was conducted to ensure SMM

Sustaining Capacity and tranches of ex-gratia extension of time (EOT)

Interim Support Measures to Ease Revamping Procurement Policies

Ensuring Sustained Supply of Redesigning Foreign Worker Dormitories

• Better living • Buffer against

Facilitating the Inflow of for construction work permit holders using

At the same time, over 33,000 Construction,

Improving Efficiency at Overseas

Improving Building Ventilation

Recognising the importance of ventilation

Progress in Key Transformation

modules off-site in a controlled environment. 31% target of

2017 2018 2019 2020 2021 ... 2025

Raising Industry Capabilities in DfMA

We also partnered Specialists Trade Alliance

Enhancing the Buildability Legislative

Singapore Green Building Masterplan

CURRENT PROGRESS AS OF MARCH 2022

More than Close to Best-in-class buildings

BCA’S INITIATIVES TO SUPPORT SGBMP OUTCOMES

GreenGov.SG other important sustainability outcomes,

GREENGOV.SG’S SUSTAINABILITY TARGETS

Government data centres to

The tripartite Facilities Management

In January 2021, we launched the Guide on FM

Senior Minister of State (SMS) Tan Kiat How launched

Technology Smart FM technologies that facilitate the delivery

People Management Association (SIFMA) to launch two