Financial Performance - The company's revenue for the fiscal year 2024 increased by SGD 4.1 million or 13.9%, rising from SGD 29.4 million in fiscal year 2023 to SGD 33.5 million[7]. - The gross profit margin for fiscal year 2024 was stable at 31.8%, slightly up from 31.5% in fiscal year 2023, reflecting operational excellence and financial resilience[7]. - The group's total revenue for the fiscal year 2024 increased by approximately 4.1 million SGD or 13.9% to about 33.5 million SGD, up from approximately 29.4 million SGD in the fiscal year 2023[34]. - Gross profit increased from approximately 9.2 million SGD in fiscal year 2023 to about 10.6 million SGD in fiscal year 2024, reflecting a growth of 1.4 million SGD or 15.2%[37]. - The company’s profit attributable to equity holders for fiscal year 2024 is approximately 0.3 million SGD, compared to 25,000 SGD in fiscal year 2023, with earnings per share of 0.03 SGD versus 0.002 SGD[42]. - Net profit for the year was SGD 348,243, a significant increase from SGD 24,293 in 2023, reflecting a growth of 1,332%[198]. - Total assets as of December 31, 2024, amounted to SGD 56,267,277, up from SGD 53,301,064 in 2023, indicating a growth of 5.5%[199]. - Total liabilities increased to SGD 15,883,748 in 2024 from SGD 13,205,989 in 2023, reflecting a rise of 20.3%[200]. Operational Performance - The company secured 24 demolition projects in Singapore during fiscal year 2024, completing 15 projects, indicating strong operational performance[8]. - The group secured 24 demolition projects and completed 15 projects during the fiscal year 2024, with expected total revenue from ongoing projects estimated at approximately 37.0 million SGD[31]. - The company is focused on enhancing its project development and financing capabilities through its management team[23]. - The company remains focused on core demolition services while pursuing diversification and innovation to enhance shareholder value[33]. - The company has over 30 years of operational history in the demolition industry, positioning it well to capitalize on the evolving market conditions in Singapore[8]. Market Outlook - The Ministry of Trade and Industry projects Singapore's GDP growth to be 4.4% in 2024, following a 1.1% growth in 2023, highlighting a positive economic outlook[9]. - The total construction demand in Singapore is estimated to reach between SGD 47 billion and SGD 53 billion in 2025, with preliminary figures for 2024 at SGD 44.2 billion, driven by public sector investments[9]. - The public sector is anticipated to lead the surge in construction demand, contributing approximately 28 billion SGD to 32 billion SGD through transformative public housing plans and major infrastructure projects[32]. - The demolition industry in Singapore is projected to continue expanding in 2025, supported by government incentives and modernization of infrastructure[32]. Management and Governance - The company is led by experienced executives, including Tan Chee Beng, who has over 30 years of experience in the demolition industry[13]. - The company has expanded its management team with experienced professionals in asset management and business development[20]. - The board includes members with significant experience in corporate governance and oversight, ensuring independent monitoring of management[21]. - The company maintains a high level of corporate governance practices, focusing on long-term financial performance rather than short-term gains[91]. - The board consists of five executive directors and three independent non-executive directors, ensuring strong independence[118]. Risk Management - The company has a strong emphasis on risk management and safety protocols in its operations[18]. - The group’s operations are subject to several risks, including reliance on volatile scrap material prices and the non-recurring nature of demolition projects[61]. - The company has established a risk management policy that includes identification, assessment, and management procedures for major risks affecting the business[165]. Shareholder Engagement - The company expresses gratitude to shareholders, investors, and business partners for their unwavering support throughout the fiscal year 2024[11]. - The company encourages shareholder participation in special general meetings and ensures effective communication with shareholders[169]. - Shareholders can request the convening of a special general meeting if they hold at least 10% of the paid-up capital[170]. Corporate Responsibility - The company is committed to corporate responsibility, focusing on its impact on employees, society, and the environment, while contributing to Singapore's sustainable reconstruction initiatives[68]. - The company donated a total of SGD 10,000 to YYD EDUCATION CENTRE LIMITED in the fiscal year 2024 to support social initiatives[74]. Audit and Compliance - The company reported consolidated financial statements reflecting a true and fair view of its financial position as of December 31, 2024[179]. - Key audit matters identified include revenue recognition related to demolition service projects, which involves significant management judgment and estimation[182]. - The audit committee reviewed the group's performance for the 2024 fiscal year, including significant judgments in financial reporting[138]. - The company has confirmed the independence of all three independent non-executive directors, ensuring no conflicts of interest[126].

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of 433,483,486 New Dollars, an increase from 29,352,207 New Dollars in 2023, representing a significant growth[3] - The gross profit for the year was 10,631,836 New Dollars, compared to 9,240,186 New Dollars in the previous year, indicating a year-over-year increase of approximately 15.1%[3] - The operating profit for the year was 1,083,677 New Dollars, up from 576,676 New Dollars in 2023, reflecting an increase of about 87.5%[3] - The net profit for the year was 348,243 New Dollars, a substantial rise from 24,293 New Dollars in 2023, marking an increase of approximately 1,332.5%[3] - The company reported total comprehensive income of 297,055 New Dollars for the year, compared to 23,712 New Dollars in the previous year, showing a significant improvement[4] - The basic earnings per share for the year was 8 New Dollars, compared to 0.03 New Dollars in 2023, indicating a substantial increase[4] Costs and Expenses - The total cost of sales and services was 22,851,650 New Dollars, compared to 20,112,021 New Dollars in 2023, reflecting an increase of about 13.6%[3] - The company incurred finance costs of 304,526 New Dollars, up from 251,770 New Dollars in the previous year, indicating an increase of approximately 20.9%[3] - The company’s lease liabilities increased to 9,618,934 in 2024 from 8,025,019 in 2023, indicating a rise of about 19.8%[6] - Administrative expenses for fiscal year 2024 were approximately 9.8 million SGD, an increase of 0.4 million SGD or 4.3% from about 9.4 million SGD in fiscal year 2023[36] Assets and Liabilities - Total assets increased to 56,267,277 in 2024 from 53,301,064 in 2023, representing a growth of approximately 5%[5] - Total liabilities increased to 15,883,748 in 2024 from 13,205,989 in 2023, marking a rise of about 20.3%[6] - The company's equity attributable to owners was 40,383,529 in 2024, up from 40,095,075 in 2023, showing an increase of approximately 0.72%[6] - The company reported a total of 13,064,006 in trade receivables for 2024, compared to 9,103,965 in 2023, which is an increase of about 43%[5] - The company’s retained earnings grew to 17,002,720 in 2024 from 16,654,477 in 2023, representing an increase of approximately 2.08%[5] - The company’s cash and cash equivalents decreased to 14,061,636 in 2024 from 15,110,312 in 2023, reflecting a decline of approximately 6.9%[5] IFRS Standards and Compliance - The group has adopted new International Financial Reporting Standards (IFRS) effective from January 1, 2024, which include significant updates to the classification of liabilities and lease liabilities[9] - The implementation of the new IFRS standards is not expected to have a significant impact on the group's financial position or performance for the current and prior years[9] - The group is currently evaluating the expected impact of the new IFRS standards on its consolidated financial statements[12] - IFRS 18 introduces major changes to the presentation of financial statements, focusing on the structure of the income statement and enhancing disclosure requirements[12] - The new IFRS standards will not affect the recognition or measurement of items in the consolidated financial statements but will change how financial performance is presented[12] - The group has not applied any new IFRS standards that have been issued but are not yet effective as of January 1, 2024[10] Market and Operational Insights - The group has plans for market expansion and new product development, although specific details were not disclosed in the earnings report[3] - The Singapore economy is projected to grow by 4.4% in 2024, with construction demand expected to range between 47 billion SGD and 53 billion SGD, significantly higher than the 44.2 billion SGD recorded at the beginning of 2024[29] - The demolition industry in Singapore is expected to continue expanding in 2025, supported by government incentives and modernization of infrastructure[30] - The group primarily operates in Singapore, with most assets and liabilities located there, limiting geographical financial analysis[14] - The group’s operational focus remains on providing demolition services and leasing machinery in Singapore[14] Shareholder and Governance Matters - The group has not declared or paid any dividends for both 2024 and 2023, maintaining a focus on reinvestment[23] - The company has adopted a share option plan aimed at attracting and retaining talent, which is valid for ten years from October 15, 2019[56] - The board consists of five executive directors and three independent non-executive directors, ensuring strong independence[65] - The audit committee, composed of three independent non-executive directors, has reviewed the consolidated financial statements for the year ending December 31, 2024, and found them compliant with applicable accounting standards[66] - The independent auditor has confirmed that the financial figures in the preliminary announcement are consistent with the group's consolidated financial statements[67] - The company is committed to continuously improving its corporate governance practices to meet evolving standards and requirements[63]

BENG SOON MACHINERY HOLDINGS LIMITED (於開曼群島註冊成立的有限公司) 股份代號：1987 NZNZY 中期報告 目 錄 2 公司资料 4 管理層討論及分析 19 企業管治及其他资料 27 簡明綜合全面收益表 28 △30 △ 簡明综合中期财務報表附註 公司資料 | --- | --- | |----------------------------------------------|---------------------------------------------------------------------| | | | | 董事會 | 公司秘書 | | 執行董事 | 黃智威先生 | | Tan Chee Beng先生 | | | (主席兼行政總裁) | 授權代表 | | Tang Ling Ling 女士 | Tan Chee Beng先生 | | Tan Wei Leong 先生 張錦輝先生 | 黃智威先生 核數師 | | 顏建峰先生 | 長青(香港)會計師事務所有限公司 | | 獨立非執行董事 | 執業會計師 | | Wee Chorng Kien 先生 ...

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of SGD 13,989,129, an increase from SGD 10,740,265 in the same period of 2023, representing a growth of approximately 30.9%[1] - The gross profit for the first half of 2024 was SGD 3,403,973, compared to SGD 905,546 in the first half of 2023, indicating a significant increase in profitability[1] - The company incurred a loss before tax of SGD 1,365,723 for the first half of 2024, an improvement from a loss of SGD 2,812,152 in the same period of 2023, reflecting a reduction of approximately 51.5%[1] - The total comprehensive loss for the first half of 2024 was SGD 1,333,809, compared to SGD 2,638,714 in the first half of 2023, showing a decrease of about 49.6%[1] - The basic and diluted loss per share for the first half of 2024 was SGD 0.13, compared to SGD 0.28 in the same period of 2023, reflecting an improvement in loss per share[2] - The company recorded a net loss attributable to equity holders of (1,334,036) New Taiwan Dollars, a reduction of 53% from (2,842,052) New Taiwan Dollars in the previous year[24] - The group recorded a loss attributable to equity holders of approximately 1.3 million SGD in the first half of 2024, an improvement from a loss of about 2.8 million SGD in the same period of 2023[55] Assets and Liabilities - The company's total assets as of June 30, 2024, were SGD 26,809,940, down from SGD 28,601,898 as of December 31, 2023, representing a decline of approximately 6.3%[3] - The company's total liabilities decreased to SGD 11,546,815 as of June 30, 2024, from SGD 13,205,989 as of December 31, 2023, indicating a reduction of about 12.6%[4] - The company's total equity as of June 30, 2024, was 38,752,665 New Taiwan Dollars, down from 40,086,474 New Taiwan Dollars as of December 31, 2023[11] - The total equity attributable to the company's equity holders was approximately SGD 38.8 million as of June 30, 2024, compared to SGD 40.1 million as of December 31, 2023[56] - The total liabilities of the group were approximately SGD 11.5 million as of June 30, 2024, down from SGD 13.2 million as of December 31, 2023[56] Cash Flow and Financial Position - The company reported cash and cash equivalents of SGD 6,801,458 as of June 30, 2024, down from SGD 15,110,312 as of December 31, 2023, indicating a decrease of approximately 55.1%[3] - The group's cash and cash equivalents were approximately SGD 6.8 million as of June 30, 2024, down from SGD 15.1 million as of December 31, 2023[56] - The company's trade receivables amounted to 4,477,600 New Taiwan Dollars, an increase from 3,191,943 New Taiwan Dollars as of December 31, 2023, representing a growth of approximately 40.3%[28] - The company's trade payables were recorded at 903,141 New Taiwan Dollars as of June 30, 2024, significantly lower than 2,231,873 New Taiwan Dollars as of December 31, 2023, indicating a reduction of approximately 59.5%[32] Operational Focus and Market Outlook - The company continues to focus on providing demolition services, sales of inventory, and leasing machinery in Singapore, aiming for market expansion and operational efficiency[5] - The projected total construction demand in Singapore for 2024 is estimated to be between SGD 32 billion and SGD 38 billion, driven mainly by public sector projects[45] - The public sector is expected to contribute SGD 18 billion to SGD 21 billion, primarily from public housing and infrastructure projects[45] - The private sector is projected to contribute SGD 14 billion to SGD 17 billion, supported by residential development, commercial building redevelopment, and industrial facility development[45] - The outlook for the construction and demolition industry remains optimistic for the remainder of 2024, driven by ongoing infrastructure development and urban renewal initiatives in Singapore[46] Corporate Governance and Management - The company has adopted corporate governance principles to enhance shareholder value and ensure accountability[76] - The board consists of five executive directors and three independent non-executive directors, ensuring strong independence[77] - The Audit Committee consists of three independent non-executive directors, with Mr. Liang Youwen serving as the chairman, possessing appropriate professional qualifications and financial expertise[80] - The company has adopted the Listing Rules as its own standards for the conduct of securities trading by directors, ensuring compliance throughout the first half of 2024[79] Employee and Operational Metrics - Employee benefits expenses increased to 5,440,847 New Taiwan Dollars, up 13.7% from 4,786,980 New Taiwan Dollars year-over-year[19] - The group employed a total of 128 employees as of June 30, 2024, an increase of seven from December 31, 2023[59] Future Plans and Investments - The company plans to utilize the remaining unused proceeds by June 30, 2025[64] - The company has allocated HKD 51.2 million for the purchase of various excavators, including a 48.5-meter long-arm excavator, to enhance operational capabilities[64] - The company is focusing on identifying optimal opportunities and timelines to strengthen its equipment and pursue more registered projects for growth[64]

Financial Performance - Total revenue for the fiscal year 2023 decreased by SGD 3.3 million or 10.1%, from SGD 32.7 million to SGD 29.4 million, primarily due to a significant drop in scrap material prices [6]. - The gross profit margin for the fiscal year 2023 was 31.5%, an increase from 29.0% in the fiscal year 2022, highlighting the company's efforts to optimize operational efficiency [6]. - For the fiscal year 2023, the group's total revenue decreased by 3.3 million SGD or 10.1% to approximately 29.4 million SGD from 32.7 million SGD in the fiscal year 2022 [35]. - The group recorded a gross profit margin of 31.5% in fiscal year 2023, compared to 29.0% in fiscal year 2022, indicating improved operational efficiency [35]. - The company's net profit attributable to equity holders for fiscal year 2023 was approximately 25,000 SGD, compared to 0.5 million SGD in 2022, with earnings per share dropping to 0.002 SGD from 0.05 SGD [48]. - The company's cost of sales for fiscal year 2023 was approximately 20.1 million SGD, a decrease of 3.1 million SGD or 13.4% compared to 23.2 million SGD in 2022 [42]. - Administrative expenses increased by 0.8 million SGD or 9.3% to approximately 9.4 million SGD in 2023, primarily due to increased employee benefits [44]. - Other income rose to 0.5 million SGD in 2023, an increase of 0.2 million SGD or 66.7% compared to 0.3 million SGD in 2022, mainly due to higher interest income [45]. Project and Market Outlook - The company successfully completed the demolition of the iconic AXA Tower, a landmark building in Singapore, and secured 16 demolition projects, with 11 completed during the fiscal year 2023 [7]. - The expected total revenue from ongoing projects is approximately SGD 12.0 million, indicating a positive outlook for future earnings [7]. - Singapore's construction demand is projected to be between SGD 32 billion and SGD 38 billion in 2024, driven mainly by public sector projects [8]. - The company aims to leverage government economic stimulus policies and the ongoing growth in the construction industry to enhance shareholder value [8]. - The management is focused on core business operations while actively seeking new opportunities for business expansion [8]. - The fiscal year 2023 saw a notable achievement in maintaining operational performance amidst a weak demand environment, particularly in the Asia region [6]. Governance and Management - The board includes independent directors with extensive experience in finance and investment, ensuring robust governance and oversight [21]. - The company has a strong emphasis on corporate governance, with independent directors overseeing management practices [21]. - The management team has undergone various safety and risk management training, indicating a commitment to workplace safety and compliance [17]. - The company has established a framework for risk management and internal controls, which is regularly reviewed to ensure appropriateness [146]. - The board consists of five executive directors and three independent non-executive directors, ensuring strong independence [142]. - The company maintains high corporate governance standards, focusing on long-term financial performance rather than short-term gains [108]. - The company has adopted the corporate governance code and complied with its applicable provisions during the fiscal year 2023, except for a deviation regarding the roles of the Chairman and CEO [141]. Employee and Community Engagement - The group has a total of 121 employees as of December 31, 2023, with approximately 30% being local employees and 70% foreign employees [70]. - The company donated a total of SGD 25,000 to community development and welfare funds in the fiscal year 2023 [88]. - The company emphasizes effective and timely communication with shareholders to protect their rights and interests [199]. Risk Management - The company has established a risk management policy that includes risk identification, assessment, and management procedures across its divisions [193]. - The board is responsible for reviewing and approving proposed risk mitigation procedures and the effectiveness of the group's risk management and internal control systems [193]. - The internal audit department reviewed major control issues and provided findings and improvement recommendations to the audit committee [194]. Future Plans and Investments - The company plans to enhance its fleet by acquiring various excavators, including a 48.5-meter long-arm excavator, with an estimated expenditure of HKD 51.2 million [86]. - The company aims to recruit additional staff, including project management and execution personnel, with a budget of HKD 9.1 million [86]. - As of December 31, 2023, the unutilized net proceeds from the IPO amounted to approximately HKD 19.6 million, with plans to fully utilize these funds by December 31, 2024 [86]. Shareholder Information - The board does not recommend the payment of a final dividend for the fiscal year 2023 [76]. - The company has complied with all relevant laws and regulations in all material aspects during the fiscal year 2023 [82]. - The company maintained a sufficient public float of at least 25% of its issued shares as required by the Listing Rules [132].

Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of HKD 429,352,207, a decrease of 1.2% compared to HKD 432,737,560 in 2022[4] - The cost of sales for the same period was HKD 201,120,21, resulting in a gross profit of HKD 92,401,86, down from HKD 94,942,50 in the previous year[4] - The operating profit for the fiscal year was HKD 576,676, a significant decline of 59% from HKD 1,408,851 in 2022[4] - The net profit after tax was HKD 24,293, compared to HKD 519,817 in the previous year, indicating a substantial decrease of 95.3%[4] - The company reported a basic earnings per share of HKD 0.00 for 2023, compared to HKD 0.05 in 2022[6] - The group reported a profit attributable to equity holders of approximately 25,000 SGD for fiscal year 2023, compared to 0.5 million SGD in fiscal year 2022, with earnings per share of 0.002 SGD versus 0.05 SGD in the previous year[66] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 53,301,064, slightly down from HKD 53,781,381 in 2022[9] - The company's cash and cash equivalents decreased to HKD 15,110,312 from HKD 17,057,563 in the previous year[9] - Total liabilities decreased from 13,912,683 to 13,205,989 New Yuan, a reduction of approximately 5.1%[10] - Non-current liabilities decreased from 9,013,618 to 8,953,603 New Yuan, a decrease of about 0.7%[10] - Current liabilities decreased from 4,899,065 to 4,252,386 New Yuan, a reduction of approximately 13.2%[10] - Total equity attributable to shareholders was HKD 40,086,474, marginally up from HKD 40,062,372 in 2022[9] Operational Focus and Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[3] - The company is focusing on improving operational efficiency to counteract the decline in revenue and profit margins[3] - The company expects to continue leveraging its existing client relationships to drive future revenue growth[25] - The group aims to maintain gross profit margins while optimizing operational efficiency in response to challenges in the Asian market, particularly regarding waste price declines[54] - The group plans to focus on core demolition services while seeking expansion and diversification opportunities to enhance shareholder value and ensure sustained growth[55] Income and Expenses - Total other income and gains for 2023 amounted to 1,082,128 SGD, a significant increase from 756,606 SGD in 2022, representing a growth of approximately 43%[27] - Interest income rose to 412,456 SGD in 2023, compared to 64,266 SGD in 2022, indicating a substantial increase of over 540%[27] - Total expenses for 2023 amounted to 29,744,776 SGD, a decrease from 32,085,315 SGD in 2022, representing a reduction of approximately 7.4%[34] - Administrative expenses increased to approximately 9.4 million SGD in fiscal year 2023, up 0.8 million SGD or 9.3% from 8.6 million SGD in fiscal year 2022, primarily due to increased employee welfare expenses[62] Client and Revenue Sources - Revenue from major clients contributed over 10% of total revenue, with Client 1 generating HKD 4,952,018 and Client 2 generating HKD 4,469,807 in 2023[23] - Revenue from scrap buyers also contributed over 10% of total revenue, with Scrap Buyer 1 generating HKD 10,463,320 and Scrap Buyer 2 generating HKD 6,109,124 in 2023[25] - As of December 31, 2023, the company had three major project owners, up from one in 2022, indicating an expansion in its client base[23] Corporate Governance - The company is committed to good corporate governance to enhance shareholder value[92] - The audit committee, consisting of three independent non-executive directors, has reviewed the consolidated financial statements for the year ended December 31, 2023, and found them compliant with applicable accounting standards[96] - The company has a strong independent board structure with five executive directors and three independent non-executive directors[95] Future Plans and Projections - The company plans to continue monitoring the impact of upcoming international financial reporting standards on its financial statements[16] - The Singapore construction demand is projected to be between 32 billion SGD and 38 billion SGD in 2024, with public sector contributions expected to account for approximately 60% of this demand[53] - The group plans to use the unutilized proceeds for acquiring properties, equipment, and hiring new staff[83] Miscellaneous - The company has not adopted any new international financial reporting standards that would have a significant impact on its performance and financial position[14] - The company has implemented new international financial reporting standards effective from January 1, 2023, with no significant impact on its financial results[14] - The company confirmed a tax refund for foreign workers amounting to 92,850 SGD for the fiscal year ending December 31, 2022[32] - The company has no unmet conditions or other contingencies related to government assistance[33]

Financial Performance - The group's revenue for the first half of 2023 was approximately SGD 10.7 million, a decrease of about 35.9% compared to SGD 16.7 million in the same period of 2022[20]. - The company's revenue for the six months ended June 30, 2023, was SGD 10,740,265, a decrease of 35.5% compared to SGD 16,714,360 in the same period of 2022[80]. - Revenue from customer contracts was SGD 10,634,830, down 36.1% from SGD 16,631,681 in the previous year[100]. - The company reported a net loss attributable to equity holders of SGD 2,842,052 for the six months ended June 30, 2023, compared to a profit of SGD 215,933 in 2022[117]. - The net loss after tax for the period was SGD 2,654,341, compared to a profit of SGD 202,666 in 2022[80]. - The company reported a basic and diluted loss per share of SGD 0.28 for the six months ended June 30, 2023, compared to earnings of SGD 0.02 per share in the same period of 2022[80]. - The gross profit for the first half of 2023 was approximately SGD 0.9 million, down 81.6% from SGD 4.9 million in the same period of 2022, resulting in a gross margin of 8.4% compared to 29.5% in 2022[29]. - The operating loss for the six months was SGD 2,683,109, compared to an operating profit of SGD 343,351 in the previous year[80]. Project and Revenue Generation - The company completed two demolition projects in the first half of 2023, generating confirmed revenue of SGD 8,267,000 from a power station and SGD 2,828,000 from a factory building[9]. - As of June 30, 2023, the company has eight ongoing demolition projects, with cumulative confirmed revenue of SGD 22,453,000 from a commercial building project and SGD 1,054,000 from another commercial building project[13]. - The company anticipates securing more awarded projects in 2023, despite facing challenges due to a decrease in demand for waste in the Asian market[18]. Economic and Market Context - The Singapore economy grew by 0.5% year-on-year in Q2 2023, with the construction sector improving by 6.9% and 6.8% in Q1 and Q2 respectively[18]. - The total construction demand in Singapore is projected to be between SGD 27 billion and SGD 32 billion for 2023, with public sector projects contributing about 60% of the total[18]. Cost and Expense Management - The total sales cost decreased from approximately SGD 11.8 million in 2022 to about SGD 9.8 million in 2023, a reduction of 16.6%[26]. - Administrative expenses for the first half of 2023 were approximately SGD 4.4 million, a decrease of 9.8% from SGD 4.9 million in 2022[30]. - Total expenses for the six months ended June 30, 2023, were SGD 14,405,087, a decrease of 14.1% from SGD 16,773,818 in 2022[103]. Asset and Equity Management - As of June 30, 2023, the group's current assets net amount was approximately SGD 19.8 million, a decrease of about 9.6% from SGD 21.9 million as of December 31, 2022[37]. - Total assets decreased from SGD 53,781,381 as of December 31, 2022, to SGD 49,973,129 as of June 30, 2023, representing a decline of approximately 7.4%[81]. - Total equity attributable to equity holders decreased from SGD 40,062,372 to SGD 37,220,320, a decline of around 4.6%[81]. - The company reported a net debt position of SGD (6,873,255) as of June 30, 2023, compared to SGD (7,266,479) as of December 31, 2022[94]. Shareholder and Governance Information - The major shareholder, Tan Chee Beng, holds 50.56% of the company's shares, amounting to 505,600,000 shares[59]. - TCB Investment Holdings Limited, a related entity, holds 34.17% of the company's shares, totaling 341,700,000 shares[63]. - The company has adopted the corporate governance code and has complied with its principles during the first half of 2023[71]. - The audit committee, consisting of three independent non-executive directors, reviewed and approved the interim financial results for the six months ended June 30, 2023[78]. Future Plans and Investments - The company aims to expand and diversify its business through investment in new opportunities to enhance shareholder value[18]. - The group plans to use the remaining proceeds for property, plant, and equipment acquisitions, professional fees for upgrading engineering classifications, and recruitment of new staff[57]. - There are no specific plans for significant investments or capital assets for the coming year as of June 30, 2023[45]. Risk Management - The group is closely monitoring foreign exchange risks, primarily due to operations in Singapore, with most revenues and expenses denominated in SGD[52].

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本 公告之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致之任何損失承擔任何責任。 BENG SOON MACHINERY HOLDINGS LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1987） 截 至2023年6月30日 止 六 個 月 的 中 期 業 績 公 告 Beng Soon Machinery Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）宣 佈本公司及其附屬公司（統稱「本集團」）截至2023年6月30日止六個月（「2023 年 上 半 年」）的 未 經 審 核 中 期 簡 明 綜 合 業 績，連 同 相 關 的 比 較 數 字，詳 情 如下： 簡明綜合全面收益表 截至6月30日止六個月 截至6月30日止六個月 2023年 2022年 附註 新元 新元 （未經審核）（未經審核） 收益 5 10,740,265 16,714,360 銷售成本 7 (9,834,719) (11,789,138) 毛利 905 ...

Financial Performance - Total revenue for the fiscal year 2022 increased by SGD 6.0 million or 22.5% to SGD 32.7 million compared to the fiscal year 2021[6]. - Gross profit margin improved to 29.0% in fiscal year 2022 from 26.4% in fiscal year 2021, primarily due to the sale of high-value scrap materials[6]. - The company reported a significant increase in revenue, achieving a total of $150 million for the fiscal year, representing a 20% growth compared to the previous year[22]. - The total revenue for the fiscal year 2022 increased by approximately SGD 6 million or 22.5% to about SGD 32.7 million, primarily due to increased revenue from waste disposal services[45]. - Gross profit for fiscal year 2022 rose by SGD 2.4 million or 33.8% to approximately SGD 9.5 million, with a gross margin of 29.0% compared to 26.4% in 2021[49]. - The net profit attributable to equity holders increased by approximately SGD 0.3 million or 176.5% to about SGD 0.5 million, with basic earnings per share rising from SGD 0.02 to SGD 0.05[55]. Market Outlook - Singapore's economy grew by 3.6% in 2022, with construction sector growth projected at 10.0% due to increased public and private sector construction activities[7]. - Total construction demand in Singapore is forecasted to be between SGD 27 billion and SGD 32 billion in 2023, with public sector contributing about 60% of the demand[7]. - The demolition industry in Singapore is expected to thrive due to government economic stimulus policies and potential growth in the construction sector[9]. - The Ministry of Trade and Industry projected Singapore's GDP growth for 2023 to be between 0.5% and 2.5%[40]. - The construction sector in Singapore is expected to grow by 10.0% year-on-year, with public and private sector construction output both recording increases[40]. - The Building and Construction Authority forecasts total construction demand in 2023 to range between SGD 27 billion and SGD 32 billion, with the public sector expected to account for about 60% of this demand[41]. Strategic Plans - The company plans to continue its core operations while investing in new opportunities to enhance shareholder value and diversify its business[10]. - The company plans to continue expanding its existing demolition services in Singapore while diversifying through investments in new opportunities[44]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2025[22]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[22]. - Investment in new technology development is set at $5 million, aimed at improving efficiency and reducing operational costs[22]. - The company plans to implement a new logistics strategy that is expected to reduce delivery times by 30%[22]. Shareholder and Corporate Governance - The company has a significant shareholder, Tan Chee Beng, who holds 505,600,000 shares, representing 50.56% of the total shares[112]. - TCB Investment Holdings Limited, controlled by Tan Chee Beng, owns 341,700,000 shares, accounting for 34.17% of the total shares[114]. - Lee Peck Kim, spouse of Tan Chee Beng, has a controlled entity, K Luxe Holdings Limited, which owns 163,900,000 shares, representing 16.39% of the total shares[114]. - The company maintains high standards of corporate governance, focusing on long-term financial performance rather than short-term gains[110]. - The company has established a remuneration committee to review and determine the compensation of directors and senior management based on performance and responsibilities[105]. - The company has adopted the corporate governance code and has complied with its applicable provisions during the 2022 financial year, with a noted deviation regarding the roles of the chairman and CEO[141]. Risk Management - The company has established a risk management and internal control system to ensure compliance with statutory regulations[146]. - The board is responsible for reviewing and approving proposed risk mitigation procedures and the effectiveness of the group's risk management and internal control systems[189]. - The internal audit department reviewed accounting practices and significant control issues during the fiscal year 2022, providing findings and improvement recommendations to the audit committee[190]. - The risk management and internal control systems are deemed effective and adequate, although they are designed to manage rather than eliminate risks[190]. - The group recognizes its responsibility to disclose inside information to the public in a timely manner according to the Securities and Futures Ordinance and listing rules[193]. Employee and Community Engagement - The group had a total of 125 employees as of December 31, 2022, an increase of 10 employees compared to the same period in 2021[64]. - The company donated a total of SGD 25,000 to community development and welfare funds in the fiscal year 2022[90]. - The company’s environmental compliance costs for the fiscal year 2022 were approximately SGD 2.3 million[84]. - The company has been certified to ISO 14001:2015 standards for its environmental management system since 2016[84]. Financial Position - As of December 31, 2022, the company's current assets net value was approximately SGD 21.5 million, an increase of SGD 2.5 million or 13.2% from the previous year[57]. - The debt-to-equity ratio decreased from 27.2% on December 31, 2021, to 24.6% on December 31, 2022, due to a reduction in bank borrowings and an increase in equity[58]. - The equity attributable to the owners of the company was approximately SGD 39.9 million as of December 31, 2022, compared to SGD 39.3 million on December 31, 2021[15]. - The group has no significant investments as of December 31, 2022[66]. - The group has no specific plans for significant investments or capital assets in the coming year[63].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容 概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對 因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 BENG SOON MACHINERY HOLDINGS LIMITED （於開曼群島註冊成立的有限公司） （股份代號：1987） 截 至2022年12月31日 止 年 度 的 年 度 業 績 公 告 Beng Soon Machinery Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）宣 佈本公司及其附屬公司（統稱「本集團」）截至2022年12月31日止年度（「2022 財政年度」）的綜合年度業績，連同相關的比較數字，詳情如下： 綜合損益及其他全面收益表 截至2022年12月31日止年度 截至12月31日止年度 2022年 2021年 附註 新元 新元 收益 4 32,737,560 26,737,409 銷售成本 6 (23,243,310) (19,668,022) 毛利 9,494,250 7,069,387 ...