HPC HOLDINGS LIMITED 執行董事 王應德先生 （主席兼行政總裁） 施建華先生 （首席運營官） （於開曼群島註冊成立之有限公司） 股份代號: 1742 中期報告 2019 目錄 | 公司資料 | 2 | | --- | --- | | 管理層討論及分析 | 4 | | 企業管治及其他資料 | 14 | | 中期財務資料審閱報告 | 17 | | 中期簡明綜合全面收益表 | 19 | | 中期簡明綜合財務狀況表 | 20 | | 中期簡明綜合權益變動表 | 22 | | 中期簡明綜合現金流量表 | 23 | | 簡明綜合中期財務資料附註 | 25 | HPC HOLDINGS LIMITED | 2019中期報告 公司資料 董事會及其他委員會 獨立非執行董事 朱東先生 梁偉業先生 吳敬慧女士 翁敦廉先生 審核委員會 梁偉業先生 （主席） 朱東先生 吳敬慧女士 薪酬委員會 朱東先生 （主席） 王應德先生 吳敬慧女士 提名委員會 王應德先生 （主席） 朱東先生 吳敬慧女士 工作場所安全與健康委員會 翁敦廉先生 （主席） 施建華先生 林文秀先生 （於二零一九年六月十四日辭任） 何 含女士 （於二零一九 ...

Financial Performance - The group experienced revenue growth compared to the previous year, but faced reduced gross margins due to intense bidding competition and high construction costs in the local market[9]. - The company's revenue increased by 13.7% from approximately SGD 201.1 million to about SGD 228.6 million for the fiscal year[28]. - Gross profit decreased by 38.0%, dropping from approximately SGD 39.8 million to around SGD 24.7 million due to a 26.5% rise in sales costs[28]. - The profit margin fell from 19.8% in the previous fiscal year to 10.8% in the current fiscal year[26]. - The net profit attributable to the company's owners decreased by 49.8%, from approximately SGD 27.3 million to about SGD 13.7 million[32]. - Operating profit for the year was SGD 16.61 million, down from SGD 33.51 million in the previous year, indicating a decrease of approximately 50.5%[183]. - Net profit attributable to owners of the company was SGD 13.72 million, compared to SGD 27.32 million in 2017, a decline of around 49.7%[183]. - Basic and diluted earnings per share decreased to SGD 1.0 from SGD 2.3, reflecting a drop of approximately 56.5%[183]. - The company reported a total comprehensive income of SGD 27,324 thousand for the year ended October 31, 2018, compared to SGD 13,715 thousand in 2017, marking an increase of approximately 99.0%[190]. Market Outlook - For 2019, the Singapore construction market is expected to gradually recover, and the company is optimistic about achieving steady growth based on its past performance and current project contracts[10]. - The company anticipates a significant reduction in the number of projects awarded due to the ongoing challenges in the construction market[25]. - The company anticipates continued volatility in the Singapore construction market, influenced by global economic conditions and trade tensions[49]. Strategic Initiatives - The company plans to expand its local market share while also exploring overseas business opportunities and diversifying into real estate development projects to strengthen its market risk resilience[10]. - The company successfully secured four new projects post-fiscal year-end, with a total contract value of approximately SGD 166.4 million[49]. - The company acquired a 51% stake in Regal Haus Pte. Ltd. for SGD 510,000, aimed at redeveloping a property into a commercial building[43]. Governance and Compliance - The board consists of six members, with independent non-executive directors making up 66.7% of the board[56]. - All independent non-executive directors have confirmed their independence according to the listing rules, ensuring compliance since the company's listing date[56]. - The company has established a corporate governance policy adopted on April 19, 2018, which is disclosed in the prospectus dated April 27, 2018[79]. - The company has established a comprehensive onboarding process for new directors to ensure understanding of their responsibilities and the company's operations[58]. - The company has a robust governance framework in place, with the board overseeing business strategies and financial matters[55]. Financial Position - As of October 31, 2018, the current ratio was 2.2, compared to 1.8 on October 31, 2017, indicating strong liquidity management[34]. - The debt-to-equity ratio was 0.1% as of October 31, 2018, down from 0.2% in the previous year, suggesting low leverage[35]. - Total assets increased to SGD 139.00 million in 2018 from SGD 123.77 million in 2017, representing a growth of about 12.2%[185]. - Total equity attributable to owners of the company rose to SGD 79.11 million in 2018 from SGD 62.46 million in 2017, an increase of approximately 26.6%[185]. - Cash and cash equivalents decreased to SGD 23.71 million in 2018 from SGD 27.79 million in 2017, a decline of about 14.5%[185]. Employee and Operational Insights - The total employee costs for the fiscal year amounted to approximately SGD 27.5 million, an increase from SGD 23.2 million in the previous year[46]. - As of October 31, 2018, the company had 929 employees, including foreign workers, reflecting its operational scale[45]. - The company has maintained a focus on internal controls to ensure the accuracy of financial reporting and compliance with relevant regulations[174]. Shareholder Information - The company did not recommend the declaration of a final dividend for the fiscal year[33]. - The company maintains a balance between sufficient capital development and rewarding shareholders in its dividend policy[100]. - The remuneration policy for employees is determined by the remuneration committee based on performance and market data, with the share option plan serving as an incentive[153]. Risks and Challenges - The construction industry in Singapore contracted by 2.2% year-on-year in Q4 2018, continuing a decline of 2.5% in Q3 2018[24]. - The company has no significant foreign exchange risk as most revenues and expenses are denominated in Singapore dollars[36]. - Each department is tasked with identifying and assessing major risks quarterly and developing mitigation plans to manage identified risks[88].