Revenue and Profitability - The company's total revenue increased from approximately 11,791 thousand SGD in the corresponding period to about 13,845 thousand SGD, representing a growth of approximately 17%[12] - Revenue for the period reached SGD 13,845 million, an increase of 17.4% compared to SGD 11,791 million in the previous period[72] - Gross profit increased to SGD 8,346 million, up 9.7% from SGD 7,606 million[72] - Net profit attributable to equity holders was SGD 1,777 million, representing a 4.8% increase from SGD 1,695 million[72] - The company reported a net profit attributable to equity holders of 1,666 thousand SGD for the six months ended September 30, 2022, compared to 1,704 thousand SGD for the same period in 2021, reflecting a slight decrease of 2.2%[120] Expenses and Costs - Total sales and distribution expenses grew by approximately 405 thousand SGD or 14.1%, mainly due to increased employee compensation and advertising expenses[16] - The company’s total employee benefits costs increased to 3,609 thousand SGD for the six months ended September 30, 2022, compared to 3,208 thousand SGD for the same period in 2021, reflecting an increase of 12.5%[118] - The average effective interest rate on borrowings is reported at 2.5%, compared to 1.3% in the previous period[130] Dividends - The company declared an interim dividend of 0.133 SGD per share, compared to no dividend in the corresponding period[21] - The company declared an interim dividend of 0.133 per share, totaling 1,066,000, compared to no dividend declared in the previous year[134] Financial Position - As of September 30, 2022, the total equity of the group was approximately SGD 25.5 million, down from SGD 28.9 million as of March 31, 2022[43] - The group's current assets were approximately SGD 27.4 million, while current liabilities were about SGD 4.1 million, resulting in a current ratio of approximately 6.7[43] - The group had outstanding bank borrowings of approximately SGD 2.1 million as of September 30, 2022, compared to SGD 2.2 million as of March 31, 2022[44] - The group held cash and cash equivalents of approximately SGD 24.1 million as of September 30, 2022, down from SGD 28.4 million as of March 31, 2022[44] - The debt-to-equity ratio of the group was approximately 16% as of September 30, 2022, compared to 15% as of March 31, 2022[46] Business Operations - Sales from retail stores in Malaysia increased by approximately 911 thousand SGD or 59%, attributed to the easing of COVID-19 restrictions and the opening of new stores in Indonesia[12] - Franchise sales to overseas franchisees increased significantly, contributing to overall revenue growth[12] - The overall sales of non-self-operated stores increased, leading to a rise in royalty fee income by approximately 149 thousand SGD or 44%[12] - The company remains cautious about ongoing challenges in the snack and beverage industry, particularly regarding rising costs and labor shortages[19] - The company plans to continue exploring potential business opportunities to improve overall profitability[20] Shareholder Information - As of September 30, 2022, the company has 800,000,000 issued shares, with Daniel Tay and Huang Zhidai each holding 600,000,000 shares, representing 75% ownership[56] - Daniel Tay and Huang Zhidai each have a 50% beneficial ownership in Qiaomai Limited, which holds 600,000,000 shares[61] - The company did not repurchase any of its listed securities during the review period[63] Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the interim results and confirmed compliance with applicable accounting standards[68] - The company has adopted the corporate governance code and is committed to maintaining high standards of corporate governance[65] - No changes in director information have occurred since the last annual report date[64] - The company has confirmed that all directors complied with the securities trading code during the review period[67] Other Financial Metrics - Total assets decreased to SGD 33,205 million from SGD 37,130 million, a decline of 10.4%[78] - Cash and cash equivalents decreased to SGD 24,101 million from SGD 28,432 million, a reduction of 15.4%[95] - Operating cash flow generated was SGD 2,279 million, down from SGD 3,109 million, a decrease of 26.7%[91] - Total liabilities decreased to SGD 7,657 million from SGD 8,248 million, a decline of 7.2%[81] - The company reported a foreign exchange loss of SGD 111 million, compared to a gain of SGD 9 million in the previous period[72] Government Support - Other income from government subsidies decreased to approximately 73 thousand SGD, down from 496 thousand SGD in the corresponding period[17] - Government grants received were 73 thousand SGD for the six months ended September 30, 2022, a decrease of 85.3% from 496 thousand SGD in the same period of 2021[114]

Financial Performance - The company's revenue for the year ended March 31, 2022, was SGD 24,051,000, an increase of 12.5% compared to SGD 21,451,000 in the previous year[18]. - Sales from specialty and dining stores amounted to SGD 16,030,000, up from SGD 14,477,000, representing an increase of 10.8%[18]. - Franchise and licensed operators contributed SGD 6,470,000 in sales, compared to SGD 5,740,000, marking a growth of 12.7%[18]. - The group's total revenue increased from approximately 21.5 million SGD in 2021 to about 24.1 million SGD in 2022, representing a growth of approximately 12%[5]. - The group's gross profit for the year was approximately 15.0 million SGD, an increase of about 14.5% from approximately 13.1 million SGD in 2021[25]. - The total sales revenue from Singapore's self-operated stores increased due to the nature of takeaway services, with total revenue from Indonesia and the USA rising by approximately 0.9 million SGD (68%) and 0.3 million SGD (136%) respectively[5]. Operational Expansion - The company expanded its operations into East Malaysia through a franchise agreement, reflecting a strategic move to enhance market presence[15]. - The number of specialty and dining stores increased by 6 during the year, attributed to the easing of COVID-19 restrictions[15]. - The company remains optimistic about business prospects in Malaysia and Indonesia, despite ongoing challenges in the restaurant industry[9]. - The company plans to continue expanding both local and overseas markets while enhancing brand strength and shareholder value[40]. Cost Management - The company is focused on managing high costs and maintaining cash flow amid unpredictable COVID-19 conditions[9]. - Employee costs rose from approximately 6.4 million SGD in 2021 to about 7.4 million SGD in 2022, an increase of approximately 1.0 million SGD[27]. - Rental and related expenses increased by approximately 0.5 million SGD (16%) to about 2.4 million SGD due to new store openings and increased warehouse rent in Singapore[28]. - The cost of goods sold increased in line with revenue growth, maintaining a gross margin of approximately 61-63%[24]. Cash Flow and Financial Position - As of March 31, 2022, the group's cash and cash equivalents were approximately 28.4 million SGD, an increase of about 3.0 million SGD from 25.4 million SGD in 2021[29]. - The group recorded a debt-to-equity ratio of approximately 15% as of March 31, 2022, compared to 16% in the previous year[30]. - The net proceeds from the share issuance amounted to approximately 13.0 million SGD, with allocations for new store openings and technology upgrades planned for 2023 and 2024[32]. Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder interests and ensure transparency and accountability[57]. - The board of directors held four meetings and one annual general meeting during the year, with all executive directors attending all meetings[62]. - The independent non-executive director, Mr. Ho, was appointed on August 27, 2021, and has attended three out of three board meetings since his appointment[62]. - The company has adopted and complied with all provisions of the corporate governance code during the year[58]. - The board consists of three independent non-executive directors, meeting the requirement that independent non-executive directors must account for at least one-third of the board members[13]. Risk Management - The group remains cautious about the unpredictable impacts of COVID-19 and other challenges facing the restaurant industry, such as high operating costs[39]. - The company is subject to various risks and uncertainties that could significantly impact its financial condition and operational performance[123]. - The company faces potential adverse impacts on its financial performance due to reliance on rental agreements for its self-operated stores, with rental costs constituting a major part of operational expenses[128]. - The company acknowledges that negative reviews from food critics can adversely affect its business and brand reputation[125]. Shareholder Relations - The board emphasizes the importance of transparent and timely communication with shareholders to build investor confidence[110]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital, and the meeting must be held within two months of the request[111]. - The company has adopted a dividend policy to distribute no less than 40% of net profit as dividends, subject to board discretion and shareholder approval[117]. - The company reported no final dividend for the fiscal year ending March 31, 2022[138]. Audit and Compliance - The independent auditor, Mazars LLP, was appointed to fill the vacancy left by the resignation of the previous auditor and will be proposed for reappointment at the 2022 annual general meeting[183]. - The independent auditor's report confirms that the consolidated financial statements of Fast Food Empire Holdings Limited accurately reflect the group's financial position as of March 31, 2022, in accordance with International Financial Reporting Standards[135]. - The audit committee reviewed the independence of external auditors and the appointment of external auditors[95]. - The audit committee reviewed the internal control review report and found the risk management and internal control systems to be effective and adequate[102].

0 Snack Empire Holdings Limited 快 餐 帝 國 控 股 有 限 公 司 (於聞曼群島註冊成立的有限公司) 股份代號：1843 2022 ឌ 期 E ME BE ME ME 目 錄 | --- | --- | |--------------------|-------| | | | | | | | | | | 公司資料 | 2 | | | | | 管理層討論及分析 | 3 | | 企業管治及其他資料 | 13 | | 簡明綜合全面收益表 | 18 | | --- | --- | --- | |-------|----------------------|-------| | | | | | | 簡明綜合財務狀況表 | 19 | | | 簡明綜合權益變動表 | 21 | | | 簡明綜合現金流量表 | 22 | | | 簡明綜合財務報表附註 | 24 | 2022 中期報告 2 公司資料 | --- | --- | |----------------------------------------------------------------------------------- ...

Store Operations and Expansion - The company operates a total of 227 stores, including 17 self-operated stores in Singapore and 120 non-self-operated stores in Indonesia, reflecting a decrease of 21 stores compared to the previous year due to pandemic-related restrictions[14] - The company plans to continue expanding its network of self-operated and non-self-operated stores in Singapore and West Malaysia, as well as renovating existing locations and enhancing its IT systems[9] - The company aims to expand into multiple overseas markets and strengthen marketing efforts to attract a diverse customer base[37] Sales and Revenue - Revenue sources include sales from stores, ingredient sales to franchisees, franchise fees, royalties, and advertising income[16] - Total revenue decreased from approximately 24.3 million SGD in 2020 to about 21.5 million SGD in 2021, representing a decline of approximately 12%[19] - Sales from franchisees decreased significantly, with a drop of about 2.6 million SGD or 66% from Indonesia and a decrease of about 2.5 million SGD or 22% from Malaysia[19] - A significant portion of the company's revenue is derived from franchising and licensing models, particularly in Singapore and West Malaysia[124] - The company may experience revenue fluctuations due to delays or cancellations of significant sales orders from franchisees[125] Financial Performance - Gross profit for the year was approximately 13.1 million SGD, down about 14% from 15.4 million SGD in 2020, primarily due to reduced sales volume caused by the COVID-19 pandemic[23] - The cost of goods sold decreased in line with revenue decline, maintaining a stable gross margin of 61-63%[22] - Employee costs increased from approximately 4.8 million SGD in 2020 to about 6.4 million SGD in 2021, an increase of about 1.6 million SGD to support expansion plans[25] - Cash and cash equivalents increased to approximately 25.4 million SGD in 2021 from about 21.6 million SGD in 2020, an increase of about 3.8 million SGD[27] - The current ratio was approximately 6.6 times in 2021, down from 7.0 times in 2020[27] Corporate Governance - The company has maintained compliance with all provisions of the corporate governance code during the year[54] - The board of directors is responsible for leading and controlling the company, ensuring objective decision-making in the best interest of the company[56] - The company emphasizes high levels of corporate governance to protect shareholder interests and ensure sustainable development[53] - The board regularly reviews and adheres to corporate governance policies to ensure compliance with the code[55] - The company has established various board committees with specific responsibilities to enhance governance practices[56] Risk Management and Challenges - The company maintains a cautious optimism regarding recovery from the pandemic, despite ongoing challenges and fluctuating infection rates in various countries[7] - The company is cautious about the ongoing impact of the COVID-19 pandemic and other market uncertainties on its operations and revenue[37] - The company faces risks related to potential negative reviews from food critics, which could adversely affect its business operations and brand reputation[124] - The company relies on major franchisees and licensed operators for revenue, and any disruption in these relationships could adversely affect financial performance[127] Shareholder and Stakeholder Engagement - The company expresses gratitude to stakeholders for their trust and support during challenging times[10] - The board emphasizes the importance of maintaining transparent and timely communication with shareholders to build investor confidence[107] - The company has implemented a policy for handling and disclosing inside information to ensure accuracy and timeliness of public disclosures[101] Audit and Financial Reporting - The independent auditor Mazars LLP was paid a total of 158,000 for annual audit services in the current year[97] - The audit committee reviewed the financial statements and the independence of external auditors, ensuring compliance with accounting standards and risk management[86] - The company’s financial statements have been audited and reviewed by the independent auditor, ensuring compliance with accounting principles[181] - The audit process involved identifying and assessing risks of material misstatement and designing appropriate audit procedures[199] Dividend Policy - The company has adopted a dividend policy, proposing to distribute no less than 40% of net profit as dividends, subject to board discretion and shareholder approval[115] - The company has implemented a review process for its dividend policy, with no guarantee of dividend payments in any specific period[116] - The company’s board will decide on the payment of dividends based on factors such as operational performance, cash flow, and capital requirements[115] - The company has no plans to declare any final dividends for the fiscal year[138] Share Options and Management - The total number of options that can be granted under the share option scheme is capped at 80 million shares, representing 10% of the total issued shares as of the report date[147] - The maximum rights granted to any qualified person cannot exceed 1% of the total issued shares unless approved by shareholders[148] - The exercise period for stock options is within ten years from the grant date, subject to early termination provisions[149]

0 Snack Empire Holdings Limited 快 餐 帝 國 控 股 有 限 公 司 (於関曼群島註冊成立的有限公司) 股份代號：1843 中期報告 目 錄 | --- | --- | |--------------------|-------| | | | | 公司資料 | 2 | | 管理層討論及分析 | 3 | | 企業管治及其他資料 | 12 | | 簡明綜合全面收益表 | 17 | | --- | --- | |----------------------|-------| | | | | | | | | | | 簡明綜合財務狀況表 | 18 | | 簡明綜合權益變動表 | 20 | | 簡明綜合現金流量表 | 22 | | 簡明綜合財務報表附註 | 24 | 2021 中期報告 公司資料 | --- | --- | |---------------------------------------------------------------------------------------------------------------------|--------------- ...

Financial Performance - The company reported total revenue of 24,262 thousand SGD for the year, an increase of 13.7% from 21,325 thousand SGD in the previous year[16]. - The company generated revenue from franchise sales, which amounted to 9,035 thousand SGD, up from 8,383 thousand SGD the previous year[16]. - The group’s total revenue increased from approximately SGD 21,325,000 in 2019 to approximately SGD 24,262,000 in the current year, representing a growth of about 13%[20]. - The group’s gross profit for the current year was approximately SGD 15,373,000, up about 22% from SGD 12,624,000 in 2019, primarily due to an increase in self-operated stores[24]. - The company reported a franchise fee income of 684 thousand SGD, an increase from 511 thousand SGD in the previous year[16]. - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[62]. - The company provided guidance for the next fiscal year, projecting revenue growth of 25% and aiming for $625 million[62]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on expanding the product line[62]. - Market expansion plans include entering three new countries, which are projected to generate $30 million in additional revenue[62]. Store Operations and Expansion - The company operates 248 stores across various regions, including 16 self-operated stores in Singapore and 14 in West Malaysia[17]. - The company plans to open new self-operated stores and dining locations in Singapore and West Malaysia, as well as expand its non-self-operated store network[12]. - The company has launched its first concept store in Singapore's PLQ Mall, which has received positive feedback and plans to open a similar store in West Malaysia[10]. - Sales to franchisees/licensees increased by approximately 7%, with the number of non-self-operated stores rising from 175 in 2019 to 218 in the current year[20]. - The group plans to expand into multiple overseas markets and enhance marketing efforts to attract a diverse customer base[39]. Financial Health and Liquidity - Cash and cash equivalents increased from approximately SGD 4.3 million in 2019 to about SGD 21.6 million in the current year, a rise of approximately SGD 17.3 million[29]. - The current ratio improved to approximately 7.0 times from 1.7 times in 2019, indicating better liquidity[29]. - The company recorded a debt-to-equity ratio of approximately 16% as of March 31, 2020, a significant decrease from 92% in 2019[30]. - Employee costs rose from approximately SGD 3.2 million in 2019 to about SGD 4.8 million in the current year, an increase of approximately 50%[25]. - The cost of goods sold increased from approximately SGD 8,701,000 in 2019 to about SGD 8,889,000 in the current year, reflecting a 2% increase[23]. Corporate Governance - The board of directors held three meetings during the review period, with all directors attending 100% of the meetings[72]. - The company has three independent non-executive directors, meeting the requirement that they constitute at least one-third of the board[76]. - The roles of the chairman and the CEO are separated to ensure a balance of power within the board[78]. - The company has implemented appropriate and sufficient directors' and officers' liability insurance to protect against legal claims arising from their duties[79]. - The company has adopted and adhered to the principles of the corporate governance code, emphasizing transparency and accountability[70]. - The board regularly reviews and follows up on corporate governance policies to ensure compliance with the code[69]. - The company provides training for all directors to enhance their understanding of corporate governance and their responsibilities[81]. - The company has established various committees within the board, including a remuneration committee and an audit committee, to oversee specific responsibilities[73]. Risk Management - The board of directors confirmed the effectiveness of the group's risk management and internal control systems, with no significant issues identified during the review period[112]. - The company has engaged external consultants to review its risk management and internal control systems, ensuring independent and objective assurance and advisory services[112]. - The company faces significant risks related to the market recognition of its Shilin Taiwan Snack® brand, which is crucial for its success and brand value[135]. - The company acknowledges that maintaining consistent quality may become more challenging as it expands its scale and product variety[135]. - Any delays or cancellations of major sales orders by franchisees could lead to revenue fluctuations and negatively impact financial performance[137]. Shareholder Relations and Dividends - The company has adopted a dividend policy, proposing to distribute no less than 40% of net profit as dividends, subject to board discretion and shareholder approval[128]. - The company has declared an interim dividend of 1.0 million SGD to shareholders, which was paid in October 2019[149]. - No final dividend is recommended for the current fiscal year, indicating a cautious approach to cash distribution amid potential financial uncertainties[150]. - The company has no distributable reserves as of March 31, 2020, which may limit future dividend payments[153]. - The company emphasizes the importance of maintaining transparent and effective communication with shareholders to build investor confidence and attract new investors[121]. Operational Improvements and Efficiency - Operational improvements have led to a 10% reduction in costs, contributing to higher profit margins[62]. - The company is investing $10 million in research and development for new technologies aimed at improving operational efficiency[62]. - The company is actively seeking additional opportunities to expand revenue sources and enhance shareholder value[12]. Employee Training and Development - Regular training will be provided to employees to enhance service levels within the group[39]. - The board has reviewed and monitored the training and continuous professional development of directors and senior management[104].

Revenue Growth - Total revenue increased by approximately 28.4% from 9,350 thousand SGD in the corresponding period to 12,008 thousand SGD in the review period[7] - Sales from specialty stores rose by about 19.8%, with the number of self-operated specialty and dining stores increasing from 25 to 29[8] - Sales to franchisees and licensed operators increased by approximately 38.7%, with the number of non-self-operated stores rising from 162 to 199[10] - Revenue for the six months ended September 30, 2020, was 12,008 thousand SGD, representing a 28.4% increase from 9,350 thousand SGD in the same period of 2019[52] - Revenue from Singapore increased to 4,719 thousand SGD in 2019 from 3,525 thousand SGD in 2018, representing a growth of 34%[120] - Revenue from Malaysia rose to 5,395 thousand SGD in 2019 compared to 4,594 thousand SGD in 2018, marking an increase of 17%[120] Profitability - Net profit for the review period was 2.9 million SGD, up from 1.9 million SGD in the corresponding period[11] - Gross profit for the same period was 7,638 thousand SGD, up 32.8% from 5,747 thousand SGD year-on-year[52] - Profit attributable to equity holders for the period was 1,956 thousand SGD, a significant increase of 505.5% compared to 323 thousand SGD in the previous year[52] - Profit before tax for the six months ended September 30, 2019, was 1,948 thousand SGD, up from 274 thousand SGD in 2018, indicating a significant increase[130] - The total comprehensive income for the period was reported at 1,948 thousand SGD, reflecting a profit of 1,956 thousand SGD after accounting for other comprehensive losses[67] Financial Position - As of September 30, 2019, the total equity of the group was SGD 5.1 million, an increase from SGD 4.0 million as of March 31, 2019[23] - As of September 30, 2019, the group's current assets were SGD 13.1 million, up from SGD 9.0 million as of March 31, 2019, while current liabilities increased to SGD 9.7 million from SGD 5.4 million[23] - The current ratio as of September 30, 2019, was 1.4, compared to 1.6 as of March 31, 2019[23] - The group's net cash equity ratio as of September 30, 2019, was 0.7, an increase from 0.4 as of March 31, 2019[23] - The debt-to-equity ratio as of September 30, 2019, was 49.2%, significantly improved from 92.0% as of March 31, 2019[26] - Total assets as of September 30, 2020, amounted to 18,627 thousand SGD, compared to 12,794 thousand SGD as of March 31, 2019, reflecting a growth of 45.7%[54][57] Cash Flow - Cash generated from operating activities was 4,411 thousand SGD, significantly higher than 2,535 thousand SGD in the previous period[76] - The net cash from operating activities after tax payments was 4,033 thousand SGD, compared to 2,497 thousand SGD previously[76] - The group’s cash and cash equivalents increased to 5,946 thousand SGD from 3,854 thousand SGD[79] - The company declared a dividend of 1,000 thousand SGD for the period[70] - The group experienced a net cash outflow from financing activities of 2,139 thousand SGD, compared to a net inflow of 653 thousand SGD in the previous period[79] Future Plans and Investments - The company plans to open up to 16 new self-operated specialty stores in Singapore by March 31, 2024, using approximately 22.2% of the net proceeds from the IPO[16] - Approximately 20.9% of the net proceeds will be used to expand the network of non-self-operated specialty and dining stores[16] - The company aims to renovate about 5 self-operated specialty stores in Singapore and 4 dining stores in West Malaysia each year until March 31, 2023[16] - Approximately 8.2% or about HKD 6.1 million will be used for recruiting employees in Singapore and West Malaysia[18] - Approximately 8.2% or about HKD 6.1 million will be allocated for the development of the Shilin Taiwan Snack® brand and targeted sales and marketing activities[18] - Approximately 8.2% or about HKD 6.1 million will be invested in developing a customized enterprise resource planning system to enhance the group's data infrastructure and analytics systems[18] Employee and Operational Information - The company had 155 employees as of September 30, 2019, with total employee costs amounting to 1,968 thousand SGD during the review period[14] - The macro environment for the company's operations in Taiwan, Singapore, Malaysia, Indonesia, and the United States remains stable, with continued sales growth trends[12] - Franchise fees and advertising income are expected to remain stable, contributing approximately 2.0% to 3.0% of total revenue[11] Financial Management and Compliance - The company maintained compliance with corporate governance codes since its listing date[46][47] - The group’s financial risk management policies have not undergone significant changes during the review period[114] - The carrying amounts of current financial assets and liabilities are similar to their fair values due to their short maturities[115] - The group’s operating segments are monitored by the executive directors, who assess performance for resource allocation decisions[118] - The adoption of IFRS 16 resulted in an increase in right-of-use assets by 1,933 million and lease liabilities by 1,860 million as of April 1, 2019[102]

Revenue Growth - Total revenue increased by approximately 28.4% from 9,350 thousand SGD in the corresponding period to 12,008 thousand SGD in the review period[7] - Sales from specialty stores rose by about 19.8%, with the number of self-operated specialty and dining stores increasing from 25 to 29[8] - Sales to franchisees/licensees increased by approximately 38.7%, with the number of non-self-operated stores rising from 162 to 199[10] - Revenue for the six months ended September 30, 2020, was 12,008 thousand SGD, representing a 28.4% increase from 9,350 thousand SGD in the same period of 2019[52] - Revenue from Singapore increased to 4,719 thousand SGD in 2019 from 3,525 thousand SGD in 2018, representing a growth of 34%[120] - Revenue from Malaysia rose to 5,395 thousand SGD in 2019 compared to 4,594 thousand SGD in 2018, marking an increase of 17%[120] Profitability - Net profit for the review period was 2.9 million SGD, up from 1.9 million SGD in the corresponding period[11] - Gross profit for the same period was 7,638 thousand SGD, up 32.8% from 5,747 thousand SGD in 2019[52] - Profit attributable to equity holders for the period was 1,956 thousand SGD, a significant increase of 505.5% compared to 323 thousand SGD in the previous year[52] - Profit before tax for the six months ended September 30, 2019, was 1,948 thousand SGD, up from 274 thousand SGD in 2018, indicating a significant increase[130] - The total comprehensive income for the period was 1,948 thousand SGD, after accounting for a loss of 8 thousand SGD[67] Financial Position - As of September 30, 2019, total equity was SGD 5.1 million, an increase from SGD 4.0 million as of March 31, 2019[23] - Current assets as of September 30, 2019, were SGD 13.1 million, compared to SGD 9.0 million as of March 31, 2019, while current liabilities were SGD 9.7 million, up from SGD 5.4 million[23] - Total assets as of September 30, 2020, amounted to 18,627 thousand SGD, an increase from 12,794 thousand SGD as of March 31, 2019[54] - Total liabilities reached 13,576 thousand SGD, up from 8,764 thousand SGD, reflecting increased financial commitments[57] - Cash and cash equivalents stood at 5,946 thousand SGD, compared to 4,263 thousand SGD in the previous year, indicating improved liquidity[54] Cash Flow - Cash generated from operating activities was 4,411 thousand SGD, significantly higher than 2,535 thousand SGD in the previous period[76] - The net cash from operating activities after tax payments was 4,033 thousand SGD, compared to 2,497 thousand SGD previously[76] - The group reported a net cash outflow from investing activities of 200 thousand SGD, a decrease from 3,376 thousand SGD in the previous period[79] - Cash and cash equivalents increased to 5,946 thousand SGD from 3,854 thousand SGD at the beginning of the reporting period[79] Employee and Operational Costs - Employee costs for the review period totaled 1,968 thousand SGD, with 155 employees as of September 30, 2019[14] - Approximately 8.2% or about HKD 6.1 million will be used for recruiting employees in Singapore and West Malaysia[18] Future Plans and Investments - The company plans to open up to 16 new self-operated specialty stores in Singapore by March 31, 2024, using approximately 22.2% of the net proceeds from the IPO[16] - Approximately 20.9% of the net proceeds will be used to expand the network of non-self-operated specialty and dining stores[16] - The company aims to renovate about 5 self-operated specialty stores in Singapore and 4 dining stores in West Malaysia each year until March 31, 2023[16] - Approximately 8.2% or about HKD 6.1 million will be allocated for the development of the Shilin Taiwan Snack® brand and targeted sales and marketing activities[18] - Approximately 8.2% or about HKD 6.1 million will be invested in developing a customized enterprise resource planning system to enhance the group's data infrastructure and analytical systems[18] Governance and Compliance - The company has maintained compliance with corporate governance codes since its listing date, ensuring high standards of governance practices[46] Financial Ratios - The current ratio as of September 30, 2019, was 1.4, down from 1.6 as of March 31, 2019[23] - The group's net cash equity ratio as of September 30, 2019, was 0.7, compared to 0.4 as of March 31, 2019[23] - The debt-to-equity ratio as of September 30, 2019, was 49.2%, significantly improved from 92.0% as of March 31, 2019[26] Accounting Standards - The company adopted IFRS 16, which impacted the financial statements starting from April 1, 2019[89] - The adoption of IFRS 16 resulted in an increase of lease liabilities by 1,860 thousand HKD and right-of-use assets by 1,933 thousand HKD as of April 1, 2019[102]