Do my financial statements in Singapore need an audit?

Businesses that began after July 1st, 2015, may not need an audit if they're considered small.
There are 2 conditions for a company to qualify as a small one.
Firstly, a company has to be private in the financial year in question.
Next, a company has to meet at least two of the following three criteria for the immediate past two consecutive financial years:

1. Total annual revenue is not more than $10 million.
2. Total assets are not more than $10 million.
3. The number of employees is not more than 50.