Financial Performance - Total revenue for the six months ended March 31, 2024, was SGD 23,625,588, a decrease of 26% compared to SGD 31,885,141 for the same period in 2023[73]. - Gross profit increased to SGD 2,753,475, up 54% from SGD 1,786,156 in the previous year[73]. - The company reported a profit before tax of SGD 251,515, compared to SGD 27,111 in the same period last year[73]. - Basic and diluted earnings per share were SGD 0.05, down from SGD 0.06 in the previous year[73]. - The company reported a net profit of 11,329,147 SGD for the six months ending March 31, 2024, compared to 11,213,368 SGD for the same period in 2023[150]. - Other income increased to SGD 217,231 from SGD 99,359 in the previous year, reflecting a growth of 118%[73]. - The company reported a net cash from operating activities of SGD 2,376,155, compared to SGD 2,100,251 for the same period in 2023, reflecting an increase of about 13.14%[104]. Assets and Liabilities - As of March 31, 2024, total assets amounted to 28,031,698 SGD, a decrease from 30,211,039 SGD as of September 30, 2023[147]. - The company's non-current assets increased to SGD 27,917,051 as of March 31, 2024, up from SGD 27,797,849 as of September 30, 2023, reflecting a growth of approximately 0.43%[101]. - Total liabilities decreased to SGD 26,463,623 from SGD 27,323,859, showing a reduction of approximately 3.15%[101]. - The group’s total liabilities decreased from SGD 16,124,056 to SGD 15,095,284, a reduction of approximately 6.4%[177]. - Non-current liabilities, including bank loans, decreased to SGD 4,063,249 from SGD 4,812,549 year-over-year[76]. - Cash and cash equivalents at the end of the period were SGD 8,546,790, compared to SGD 8,804,534 at the end of the previous year[81]. Investments and Capital Expenditures - The group purchased property, plant, and equipment amounting to approximately SGD 1.4 million in the first half of FY2024, a significant increase from approximately SGD 15,000 in the first half of FY2023[22]. - The company has no future plans for significant investments or capital assets as of March 31, 2024[35]. - The total amount allocated for enhancing the company's financial position from the net proceeds was SGD 36.4 million, with SGD 21.8 million initially planned[39]. - The company has not granted, agreed to grant, exercised, cancelled, or forfeited any share options under the share option scheme since its adoption in August 2019[58]. Employee and Administrative Costs - As of March 31, 2024, the total employee cost for the first half of the fiscal year was approximately SGD 3.8 million, a decrease from SGD 3.9 million in the same period of 2023[36]. - The total employee count decreased to 182 as of March 31, 2024, down from 197 a year earlier[36]. - The company reported a decrease in administrative expenses to SGD 432,790 for the first half of 2024, down from SGD 490,604 in the previous year[65]. - The total employee costs, including director remuneration, amounted to SGD 3,824,963 for the first half of 2024, slightly down from SGD 3,890,412 in the same period of 2023[65]. Dividends and Shareholder Information - The group did not declare an interim dividend for the first half of FY2024, consistent with the first half of FY2023, which also had no dividend declared[9]. - The company’s board member, Mr. Fang, holds a controlled corporation interest of 360,000,000 shares, representing 75% of the issued share capital[42]. Credit Loss Provisions and Receivables - The expected credit loss provision for financial assets and contract assets increased from approximately SGD 40,000 in the first half of FY2023 to about SGD 160,000 in the first half of FY2024, primarily due to a slight improvement in the economic environment compared to the previous year[6]. - Trade receivables decreased to SGD 4,124,880 from SGD 4,475,803, indicating a reduction of about 7.85%[101]. - Expected credit loss provisions for trade receivables improved to SGD 292,109 from SGD 393,188, indicating a decrease of about 25.7%[170]. - Contract assets, net of loss provisions, amounted to SGD 19,953,590 as of March 31, 2024, down from SGD 20,571,767, a decline of approximately 3%[172]. Other Financial Metrics - The company recorded a net cash outflow from financing activities of SGD 1,579,681, an improvement from SGD 6,737,872 in the previous year[81]. - The financing costs decreased to 454,307 SGD in 2024 from 554,261 SGD in 2023, reflecting a reduction of about 18%[141]. - The company did not incur any taxable profits in Singapore for the six months ending March 31, 2024, resulting in no provision for corporate income tax[149]. - The company made tax adjustments of (253,141) SGD related to prior years' excess provisions refunded by the Singapore tax authorities[150].

Financial Performance - Total revenue for the six months ended March 31, 2024, was SGD 23,625,588, a decrease of 26% compared to SGD 31,885,141 for the same period in 2023[14] - Gross profit for the period was SGD 2,753,475, representing a significant increase from SGD 1,786,156 in the previous year[14] - The company reported a net profit of SGD 251,515 for the six months ended March 31, 2024, compared to SGD 280,252 in the same period last year, reflecting a decrease of approximately 10%[14] - Earnings per share for the period was SGD 0.05, down from SGD 0.06 in the previous year[14] - Revenue from construction services was SGD 23,344,088, a decline of 26% from SGD 31,608,291 in the prior year[32] - Revenue from property investment increased slightly to SGD 281,500 from SGD 276,850, marking a growth of approximately 1%[32] - The total segment revenue for the six months ended March 31, 2024, was 23,625,588 SGD, down from 31,885,141 SGD in the previous year, reflecting a decline of approximately 26%[55] - The company reported a pre-tax profit of 251,515 SGD for the six months ended March 31, 2024, compared to 27,111 SGD in the same period of 2023[59] - The group's net profit for the first half of fiscal year 2024 remained stable compared to the first half of fiscal year 2023, primarily due to improved cost control on ongoing projects and higher profit margins from other supporting services[145] - The group's net profit for the first half of FY2024 and FY2023 was approximately 0.3 million SGD[185] Assets and Liabilities - The company’s total liabilities decreased to SGD 7,736,976 from SGD 8,329,806 as of September 30, 2023[24] - Non-current assets increased to SGD 28,210,521 from SGD 27,959,006, indicating a growth in asset value[24] - The company's total current assets decreased to SGD 34,494,069 from SGD 35,814,822 as of September 30, 2023[47] - Current liabilities were reported at SGD 26,463,623, down from SGD 27,323,859 as of September 30, 2023[47] - The company’s total liabilities decreased to SGD 26,463,623 from SGD 27,323,859 as of September 30, 2023[47] - The company’s total assets less current liabilities amounted to SGD 35,947,497, down from SGD 36,288,812 as of September 30, 2023[47] - The company's non-current liabilities related to bank loans were 4,063,249 SGD as of March 31, 2024, compared to 4,812,549 SGD as of September 30, 2023, showing a decrease of approximately 15.6%[83] - The total trade receivables as of March 31, 2024, were 4,124,880 SGD, down from 4,475,803 SGD as of September 30, 2023, representing a decline of about 7.8%[101] - The company’s contract assets, net of loss provisions, were reported at 19,953,590 SGD as of March 31, 2024, compared to 20,571,767 SGD as of September 30, 2023, reflecting a decline of approximately 3.0%[102] Employee and Compensation - The company continues to review its employee compensation policies to ensure competitiveness and retention of high-quality staff[10] - Total employee costs, including directors' remuneration, amounted to 3,824,963 SGD for the six months ended March 31, 2024, compared to 3,890,412 SGD in the same period of 2023[67] - As of March 31, 2024, the group employed 182 staff members, a decrease from 197 staff members as of March 31, 2023[199] - The total employee costs for the first half of the fiscal year 2024 amounted to approximately 3.8 million SGD, slightly down from 3.9 million SGD in the first half of fiscal year 2023[199] Cash Flow and Financing - The company has not recognized any taxable profits in Singapore for the six months ended March 31, 2024, thus no provision for Singapore corporate income tax was made[41] - The interest expenses for bank loans and overdrafts decreased to 434,303 SGD for the six months ended March 31, 2024, down from 522,799 SGD for the same period in 2023, a reduction of about 17.0%[87] - The group maintains a prudent cash and financial management policy, with cash primarily denominated in SGD and HKD, and closely monitors foreign exchange risks[160] - As of March 31, 2024, the group had bank borrowings of approximately 6.2 million SGD, down from approximately 6.9 million SGD as of September 30, 2023[161] - The debt-to-equity ratio as of March 31, 2024, was approximately 67.0%, down from 69.7% as of September 30, 2023, primarily due to a decrease in bank borrowings[190] - The group has pledged approximately 0.5 million SGD in bank deposits and various properties valued at approximately 21.4 million SGD to secure bank financing[191] Market Outlook and Strategy - The construction demand in Singapore for 2023 reached 33.8 billion SGD, exceeding the forecast of 27.0 billion SGD, with expectations for 2024 demand between 32.0 billion SGD and 38.0 billion SGD[124] - The company remains cautiously optimistic about profit recovery and business growth despite challenges from the post-COVID-19 environment and rising costs[125] - The company anticipates that the construction industry will regain momentum in the medium to long term[125] - The construction demand in the private sector for 2024 is projected to be between 14 billion SGD and 17 billion SGD, driven mainly by residential projects under government land sales and the expansion of two integrated resorts[147] - The group continues to focus on enhancing core competencies through productivity improvements, technical capabilities, financial management, and team skill enhancement[174] - The group aims to establish a stable and recurring revenue source through a diversified investment property portfolio, while mitigating risks associated with potential changes in the construction industry[197] Dividends and Shareholder Returns - The company did not declare any dividends for the six months ended March 31, 2024[42] - The board has decided not to declare an interim dividend for the first half of fiscal year 2024, compared to zero SGD in the first half of fiscal year 2023[158] Other Income and Expenses - Government grants received increased to 22,644 SGD from 19,238 SGD year-over-year[62] - The group's other income increased from approximately 0.1 million SGD in the first half of fiscal year 2023 to approximately 0.2 million SGD in the first half of fiscal year 2024, mainly due to increased rental income from leased equipment[153] - Other income decreased from approximately 1.4 million SGD in the first half of FY2023 to about 0.1 million SGD in the first half of FY2024, primarily due to a reduction in net gains from the sale of properties, plants, and equipment by approximately 2.2 million SGD[180] - Administrative expenses decreased from approximately 2.8 million SGD in the first half of FY2023 to about 2.6 million SGD in the first half of FY2024, mainly due to a reduction in professional fees by approximately 0.2 million SGD[181] - The expected credit loss provision for financial assets and contract assets increased from approximately 40,000 SGD in the first half of FY2023 to about 160,000 SGD in the first half of FY2024, attributed to a slight improvement in the economic environment[182] - Financing costs decreased from approximately 0.6 million SGD in the first half of FY2023 to about 0.5 million SGD in the first half of FY2024, mainly due to a reduction in bank borrowings[183]

Financial Performance - As of September 30, 2023, the group has an order book of approximately SGD 133.9 million[38] - The group successfully secured new projects valued at approximately SGD 43.4 million during the fiscal year ending September 30, 2023[38] - The overall financial condition of the group remains robust, allowing continued operations in a challenging environment[38] - Revenue decreased to SGD 56.06 million in 2023 from SGD 67.10 million in 2022, a decline of 16.1%[103] Environmental Management - The overall greenhouse gas emissions density increased by 1.6% to 0.0743 tons per million SGD in revenue during the reporting period[77] - The total construction waste generated decreased significantly from 230.49 tons in 2022 to 65.42 tons in 2023, indicating improved waste management practices[63] - The company achieved a paper waste reduction from 0.82 tons in 2022 to 0.59 tons in 2023, reflecting enhanced resource efficiency[63] - The company maintained zero violations of local laws and regulations regarding waste management during the reporting period[62] - The company aims to achieve a zero violation target for waste handling and disposal in the next reporting period[54] - The company continues to monitor and review its environmental management system to ensure compliance with ISO 14001:2005 standards[75] - The company has implemented measures to reduce direct and indirect greenhouse gas emissions from its operations[80] - The air emissions density increased to 0.0743 tons per million SGD in revenue, attributed to increased use of in-house resources for construction projects[77] - Greenhouse gas emissions intensity decreased by 10.3% from 63.87 tons CO2 equivalent per million SGD revenue to 57.31 tons CO2 equivalent per million SGD revenue[81] - Scope 2 greenhouse gas emissions intensity increased by 52.8% from 0.36 tons CO2 equivalent per million SGD revenue to 0.55 tons CO2 equivalent per million SGD revenue[81] - Energy consumption intensity reduced by approximately 10.5% to 234,738 kWh per million SGD revenue[89] - The company aims to reduce total waste emissions intensity by 5% in the next reporting period[84] - The company recognizes the importance of water resource sustainability and aims to minimize water usage and manage water quality[86] - The company has implemented measures to reduce raw material waste in daily operations[92] - All construction waste is handled by subcontractors in compliance with local laws and regulations[85] - The company has adopted solar-powered machinery and energy-efficient office equipment[88] Employee Relations and Development - The company emphasizes the importance of maintaining good relationships with employees through competitive compensation and benefits[18] - The company emphasizes employee development and has established policies to support a positive work environment[95] - The company ensures fair dismissal policies in compliance with local regulations[97] - Employee turnover rate in Singapore was 31.4% in 2023, up from 27.0% in 2022, indicating a 4.4 percentage point increase[117] - The workforce consisted of 183 full-time employees in 2023, down from 200 in 2022, representing a decrease of 8.5%[114] - The company provides various employee benefits, including medical reimbursements and interest-free loans for those facing financial difficulties[119] - The average training hours for male employees increased by approximately 14% from 8.6 hours in 2022 to 9.8 hours in 2023, while female employees' average training hours decreased by about 42% from 6.2 hours to 3.6 hours[157] - The company aims to achieve a workplace fatality rate of zero in the next reporting period and to reduce work-related lost days to less than 200 by the fiscal year 2024[129] - 100% of senior and middle management employees received training in 2023, while 60% of other employees were trained[131] - The company is committed to providing continuous education scholarships for employees pursuing courses related to their job scope or the company's goals[144] - The company recognizes the importance of competitive employee compensation and regularly reviews its remuneration policies to ensure competitiveness[140] - The number of work-related incidents reported included only minor injuries, with no fatalities recorded from 2018 to 2023[153] - The company encourages employees to enhance their skills through external training and provides funding for such courses[129] - The company aims to increase the percentage of trained male and female employees by 3% in the next reporting period[131] Corporate Governance and Social Responsibility - The board is committed to navigating through challenges and appreciates the support from shareholders and business partners[39] - The group has established a formal quality management system and has been certified under ISO 9001:2015[162] - The group actively collaborates with approximately 352 recognized suppliers, with 100% of procurement conducted locally in Singapore[185] - The group aims to maintain zero undisclosed conflicts of interest and zero reported incidents[181] - The group emphasizes the importance of customer feedback and has established formal guidelines for handling feedback[191] - The group does not rely on controlling shareholders or their affiliates for operational resources from suppliers[186] - The group has a commitment to corporate social responsibility and community investment[176] - The group provided a total of SGD 2,345 in sponsorship for local community charitable activities during the reporting period[196] - The group participated in a total of 210 hours of volunteer service, including events with the Singapore Association of the Visually Handicapped and celebrations for Lunar New Year and Christmas[196] - The board and management are committed to maintaining high standards of corporate governance and strong internal controls to enhance shareholder value[197] Compliance and Risk Management - The group has not engaged in any related party transactions or continuous related party transactions during the fiscal year[11] - The company has not purchased, sold, or redeemed any listed securities during the fiscal year ending September 30, 2023[3] - The group has not been aware of any violations of the Personal Data Protection Act during the reporting period[174] - The group has implemented measures to ensure compliance with local labor laws, prohibiting child and forced labor[183] - The group has a formal process for monitoring supplier performance to prevent commercial bribery and discrimination[186]

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，並明確表示概不就因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 S&T Holdings Limited （於開曼群島註冊成立的有限公司） （股份代號︰3928） 截 至 二 零 二 三 年 九 月 三 十 日 止 年 度 之 全 年 業 績 公 告 S&T Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其附屬 公司（「本集團」）截至二零二三年九月三十日止年度的經審核綜合業績（「全年業 績」），連同截至二零二二年九月三十日止年度的比較數字。 ...

Revenue Performance - The total revenue for the construction services segment increased to SGD 31,608,291 for the six months ended March 31, 2023, compared to SGD 30,452,505 for the same period in 2022, representing a growth of approximately 3.8%[7] - The property investment segment reported revenue of SGD 276,850, a decrease from SGD 292,400 in the previous year, reflecting a decline of about 5.3%[7] - The group's total revenue for the six months ended March 31, 2023, was SGD 31,885,141, compared to SGD 30,744,905 in the same period of 2022, indicating an overall increase of approximately 3.7%[7] - Total revenue for the six months ended March 31, 2023, was SGD 31,885,141, an increase of 3.7% from SGD 30,744,905 in the same period of 2022[53] - Total revenue for the six months ended March 31, 2023, increased to approximately SGD 31.9 million from SGD 30.7 million for the same period in 2022, representing a growth of about 3.9%[136] Profitability - The net profit before tax for the period was SGD 27,111, a significant recovery from a loss of SGD 2,795,857 in the previous year[7] - For the six months ended March 31, 2023, the company reported a profit attributable to owners of SGD 280,252, compared to a loss of SGD 2,835,155 in the same period of 2022, marking a significant turnaround[46] - Gross profit for the period was SGD 1,786,156, significantly up from SGD 641,341 in the previous year, reflecting a gross margin improvement[53] - The company reported a pre-tax profit of SGD 27,111 for the six months ended March 31, 2023, a significant recovery from a loss of SGD 2,795,857 in the previous period[76] - The net profit for the first half of fiscal year 2023 was approximately 0.3 million SGD, a turnaround from a net loss of about 2.8 million SGD in the first half of fiscal year 2022, representing an increase of approximately 3.1 million SGD[166] Expenses and Cost Management - Other income decreased to SGD 99,359 from SGD 549,184, primarily due to a reduction in government grants and miscellaneous income[7] - Administrative expenses decreased to SGD 2,767,206 from SGD 4,001,302, reflecting cost-cutting measures implemented by the company[7] - Total employee costs, including directors' remuneration, decreased to SGD 3,890,412 from SGD 4,241,981, reflecting a reduction of approximately 8.3% year-over-year[43] - Material costs recognized as service costs increased significantly to SGD 8,228,278 from SGD 4,534,551, representing an increase of approximately 81.5%[43] - The total cost of materials recognized as service costs was SGD 16,888,235, down from SGD 20,959,189, indicating a decrease of about 19.7%[43] Asset and Liability Management - Non-current assets decreased to SGD 27,711,605 from SGD 31,947,656, primarily due to depreciation and asset disposals[54] - Current liabilities reduced to SGD 26,936,453 from SGD 30,222,725, indicating improved liquidity management[54] - Total assets less current liabilities stood at SGD 38,455,727, down from SGD 43,217,178, reflecting a strategic focus on asset management[54] - The company's net asset value increased to SGD 29,276,369 from SGD 28,996,117, indicating a stable financial position[57] - The company's bank borrowings amounted to 12,894,783 SGD as of March 31, 2023, down from 18,429,125 SGD a year earlier, indicating a reduction of approximately 30%[100] Cash Flow and Financing - The net cash generated from operating activities for the six months ended March 31, 2023, was SGD 2,100,251, compared to SGD 2,363,491 in the same period of 2022, indicating a decline of 11.1%[76] - The company's financing activities resulted in a net cash outflow of 6,737,872 SGD for the six months ended March 31, 2023, compared to 3,084,940 SGD in the previous year, indicating a significant increase in cash used for financing[93] - The debt-to-equity ratio as of March 31, 2023, was approximately 65.7%, a significant decrease from 87.6% as of September 30, 2022, primarily due to a reduction in bank loans[185] Market and Operational Insights - The company’s operations are primarily based in Singapore, with 100% of total revenue generated from this market for the six months ended March 31, 2023[11] - The construction sector in Singapore is projected to have a contract value between SGD 27 billion and SGD 32 billion in 2023, with public sector demand expected to account for approximately 60%[150] - The company remains cautiously optimistic about its profitability and growth due to competitive bidding, geopolitical tensions, and inflationary pressures on materials and labor[151] - The construction industry experienced a growth of 8.5% year-on-year in Q1 2023, continuing the previous quarter's growth of 10%[137] Strategic Initiatives - The company plans to enhance operational efficiency by selecting suitable enterprise resource planning system vendors[138] - The company aims to strengthen its core competencies through improved productivity and technical capabilities to enhance its competitive advantage in bidding and delivering new construction projects[151] - The company has not reported any significant new product developments or market expansions during this period[19] Dividends and Shareholder Returns - The company did not declare any dividends for the six months ended March 31, 2023, nor for the same period in 2022[45] - The company did not declare an interim dividend for the first half of fiscal year 2023, compared to no dividend declared in the same period of fiscal year 2022[167]

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，並明確表示概不就因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 S&T Holdings Limited （於開曼群島註冊成立的有限公司） （股份代號︰3928） 截 至 二 零 二 三 年 三 月 三 十 一 日 止 六 個 月 之 中 期 業 績 公 告 S&T Holdings Limited（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其附屬 公司（以下統稱「本集團」）截至二零二三年三月三十一日止六個月之未經審核 簡明綜合中期業績連同二零二二年同期之比較數字。 中期簡明綜合損益及其他全面收入表 截至二零二三年三月三十一日止六個月 截至三月三十一日止六個月 二零二三年 二零二二年 附註 新元 新元 （未經審核） （未經審核） 收益 服務 4 31,608,291 30,452,505 租金 4 276,850 292,400 總收益 31,885,141 30,744,905 服務成本 (30,098,985) (30,103,564) ...

Financial Performance - Total revenue for the six months ended March 31, 2022, was SGD 30,744,905, an increase of 39.5% compared to SGD 22,101,451 for the same period in 2021[9] - Service revenue contributed SGD 30,452,505, up from SGD 21,967,208, reflecting a growth of 38.5% year-over-year[9] - Gross profit for the period was SGD 641,341, a significant improvement from a gross loss of SGD 3,898,688 in the previous year[9] - The company reported a net loss of SGD 2,835,155, compared to a net loss of SGD 7,290,517 in the same period last year, indicating a reduction in losses by 61.1%[9] - Basic and diluted loss per share improved to SGD (0.59) from SGD (1.52) year-over-year[9] - The company experienced a pre-tax loss of SGD 2,795,857 for the six months ended March 31, 2022, an improvement compared to a loss of SGD 7,232,363 for the same period in 2021, indicating a reduction in losses by approximately 61.4%[18] - The company recorded a net loss of SGD 707,826 for the six months ended March 31, 2022, compared to a net profit of SGD 2,127,329 for the same period in 2021, indicating a significant shift in performance[15] - The loss for the period decreased from approximately SGD 7.3 million in the first half of fiscal year 2021 to approximately SGD 2.8 million in the first half of fiscal year 2022, primarily due to increased revenue and a turnaround to profitability[139] Assets and Liabilities - Non-current assets totaled SGD 34,626,886, a decrease from SGD 36,243,697 as of September 30, 2021[10] - Current assets decreased to SGD 36,414,480 from SGD 39,491,325, reflecting a decline of 7.9%[10] - Total liabilities were SGD 28,012,934, slightly down from SGD 28,485,592 in the previous period[10] - The company's net asset value decreased to SGD 27,654,030 from SGD 30,489,185, a decline of 9.2%[13] - As of March 31, 2022, the company reported a total equity of SGD 27,654,030, down from SGD 30,489,185 as of September 30, 2021, reflecting a decrease of approximately 9.5%[15] - The company's total liabilities decreased from SGD 11,294,517 as of September 30, 2021, to SGD 10,000,000 as of March 31, 2022, reflecting a reduction of approximately 11.4%[15] - Current liabilities due within one year were 9,958,522 SGD, down from 10,350,619 SGD, reflecting a reduction of 3.8%[18] - Total lease liabilities decreased to 2,723,627 SGD from 3,826,025 SGD, representing a decline of 28.9%[19] Cash Flow and Financing - Operating cash flow for the six months ended March 31, 2022, was SGD 2,363,491, a significant increase from SGD 625,943 in the previous year, representing a growth of approximately 277.5%[18] - The company reported a net cash outflow from financing activities of SGD 3,084,940 for the six months ended March 31, 2022, compared to SGD 1,216,889 in the prior year, indicating a decline in cash flow from financing[20] - The company’s cash and cash equivalents decreased to SGD 8,557,243 as of March 31, 2022, down from SGD 9,518,932 at the end of the previous year, reflecting a decrease of approximately 10.1%[20] - The total amount of bank overdrafts, bank loans, and lease liabilities was approximately SGD 26.4 million as of March 31, 2022, down from approximately SGD 28.9 million as of September 30, 2021[144] Revenue Segmentation - Revenue from construction services for the six months ended March 31, 2022, was SGD 30,452,505, a 38.5% increase from SGD 21,967,208 in the same period of 2021[32] - Total segment revenue for the group was SGD 30,744,905, compared to SGD 22,101,451 in the previous year, marking an increase of 38.5%[39] - The construction services segment accounted for 99.0% of total revenue, generating SGD 30.4 million, while property investment contributed 1.0% with SGD 0.3 million[128] Cost Management - Total employee costs, including directors' remuneration, were SGD 4,241,981, down from SGD 5,061,177, indicating cost management efforts[51] - The total employee cost for the first half of fiscal year 2022 was approximately SGD 4.2 million, compared to approximately SGD 5.1 million in the first half of fiscal year 2021, with a total of 204 employees as of March 31, 2022[155] - The company’s depreciation expense for property, plant, and equipment was SGD 1,615,914 for the six months ended March 31, 2022, slightly down from SGD 1,656,166 in the previous year[18] - The company’s total depreciation expense for the six months ended March 31, 2022, was SGD 3,512,659, compared to SGD 17,417,674 for the same period in 2021, showing a significant reduction in depreciation[60] Market and Strategic Initiatives - The company continues to explore new strategies for market expansion and product development to enhance future performance[9] - The company aims to adopt a more strategic approach in project bidding, focusing on contracts with higher value and profit margins[121] - The Singapore government extended several relief measures until the end of June 2022 to support the construction industry affected by COVID-19[118] - The total construction demand in Singapore for 2022 is projected to be between SGD 27 billion and SGD 32 billion, with the public sector accounting for about 60% of this demand[120] Governance and Compliance - The audit committee reviewed the unaudited interim results for the six months ending March 31, 2022, and confirmed compliance with applicable accounting standards and regulations[186] - The company has fully complied with the standards of the code of conduct for securities trading by directors and relevant employees as of March 31, 2022[181] - The company has adhered to the corporate governance code as stipulated in the listing rules for the six months ending March 31, 2022[184]

Financial Performance - Total revenue decreased from approximately SGD 87.1 million to about SGD 41.5 million, a decline of approximately 52.5% for the fiscal year ending September 30, 2020[15]. - The group reported a gross loss of approximately SGD 2.0 million compared to a gross profit of about SGD 13.4 million for the previous fiscal year, representing a significant downturn[15]. - Net loss for the fiscal year was approximately SGD 7.1 million, a stark contrast to a net profit of about SGD 1.4 million in the prior year, indicating a shift of over 600% in performance[15]. - The decline in performance was primarily attributed to the adverse impacts of COVID-19 and the subsequent government-imposed lockdown measures in Singapore[16]. - The anticipated recovery of business operations and financial performance is expected to be slow due to the ongoing adverse effects of COVID-19 on the construction industry in Singapore[17]. - The company's total revenue decreased by approximately 45.6 million SGD or 52.4% from about 87.1 million SGD (restated) for the year ended September 30, 2019, to about 41.5 million SGD for the year ended September 30, 2020[26]. - Revenue from civil engineering and building construction services decreased by approximately 38.3 million SGD and 6.4 million SGD, respectively, contributing to the overall revenue decline[26]. - The company's gross profit margin fell significantly from approximately 15.4% (restated) to a gross loss margin of about 4.9% for the year ended September 30, 2020[32]. - The group reported a significant loss of approximately SGD 7.1 million for the year ended September 30, 2020, compared to a profit of approximately SGD 1.4 million (restated) for the year ended September 30, 2019, mainly due to a decrease in gross profit of approximately SGD 15.4 million[41]. Operational Challenges - The construction projects awarded to the group during the fiscal year were fewer than those awarded in the previous year, contributing to the revenue decline[16]. - The company faced significant challenges due to COVID-19, which led to project suspensions and a slower recovery in operations[27]. - The company’s service costs decreased by approximately 30.1 million SGD or 40.8% to about 43.6 million SGD for the year ended September 30, 2020[28]. - The group plans to closely monitor the overall economic environment and collaborate with clients and government authorities to mitigate potential risks[17]. Government Support and Income - Other income increased to approximately 2.6 million SGD for the year ended September 30, 2020, compared to about 0.2 million SGD in 2019, primarily due to government subsidies related to COVID-19[33]. Financial Position and Borrowings - As of September 30, 2020, the group's cash and cash equivalents amounted to approximately SGD 10.1 million, down from approximately SGD 20.9 million as of September 30, 2019[45]. - The group's total borrowings, including bank overdrafts and loans, amounted to approximately SGD 28.9 million as of September 30, 2020, compared to approximately SGD 26.2 million as of September 30, 2019[45]. - The debt-to-equity ratio as of September 30, 2020, was approximately 69.1%, an increase from approximately 53.8% as of September 30, 2019[46]. - The group’s financing costs increased from approximately SGD 1.0 million for the year ended September 30, 2019, to approximately SGD 1.3 million for the year ended September 30, 2020, primarily due to an increase in bank borrowings[37]. Corporate Governance - The company has adopted all provisions of the Corporate Governance Code as its own corporate governance practices[79]. - The board consists of two executive directors and three independent non-executive directors, ensuring compliance with the relevant guidelines[82]. - The company has complied with the Corporate Governance Code during the year ending September 30, 2020[80]. - The independent non-executive directors confirmed their independence in accordance with the listing rules[84]. - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[79]. - The company has established a robust internal control system and risk management framework to protect shareholder interests and ensure compliance with relevant regulations[112]. Shareholder Matters - The group did not recommend a final dividend for the year ended September 30, 2020, consistent with the previous year[42]. - The company has adopted a dividend policy to maintain sufficient cash reserves for operational needs, future growth, and shareholder value[137]. - The company has approximately SGD 13,168,000 in distributable reserves as of September 30, 2020, down from SGD 14,155,000 as of September 30, 2019[136]. Audit and Compliance - The audit committee reviewed the group's financial statements for the year ending September 30, 2020, and approved all disclosures related to the audit committee in the report[105]. - The company paid S$240,000 for audit services during the year, with no payments for non-audit services[108]. - The company has engaged external consultants to perform internal audit functions and has reviewed the effectiveness of its risk management and internal control systems[117]. Future Plans and Investments - The company plans to enhance its fleet with an investment of HKD 31.0 million, of which HKD 10.1 million has been utilized, leaving HKD 20.9 million for future use by 2022[64]. - The company has delayed the utilization of the remaining net proceeds primarily due to the uncertainties caused by the COVID-19 pandemic[65]. - The remaining unutilized net proceeds are expected to be utilized by the fiscal year ending September 30, 2022, depending on the COVID-19 situation and its impact on the Singapore economy[65].

Financial Performance - Total revenue for the six months ended March 31, 2020, was SGD 32,254,748, a decrease of 34.3% compared to SGD 49,164,817 in the same period of 2019[7] - Gross profit for the same period was SGD 4,998,756, down 36.5% from SGD 7,893,018 in 2019[7] - The net profit for the period was SGD 1,928,145, representing a decline of 8.3% from SGD 2,103,166 in the previous year[7] - Basic and diluted earnings per share decreased to SGD 0.40 from SGD 0.58, a drop of 31.0%[7] - Other income for the period was SGD 187,949, which is an increase of 93.5% compared to SGD 97,311 in the same period last year[7] - The company reported a total comprehensive income of 2,103,166 SGD for the period ending March 31, 2020, compared to 1,928,145 SGD for the same period in 2019, reflecting an increase of approximately 9%[14] - The company experienced a decrease in pre-tax profit, reporting 2,364,951 SGD for the six months ending March 31, 2020, compared to 2,871,782 SGD in the same period of 2019, a decline of approximately 18%[19] - The group reported a pre-tax profit of SGD 4,998,756 for the six months ended March 31, 2020, down from SGD 7,893,018 in the same period of 2019, a decrease of about 36.5%[85] - The income tax expense for the period was 436,806 SGD, down 43.1% from 768,616 SGD in the previous year[91] Assets and Liabilities - Non-current assets totaled SGD 39,769,301 as of March 31, 2020, compared to SGD 35,098,200 as of September 30, 2019, reflecting an increase of 13.6%[10] - Current liabilities amounted to SGD 26,636,107, a decrease from SGD 40,847,376 in the previous period, indicating a reduction of 34.7%[10] - Total assets less current liabilities stood at SGD 66,661,834, up from SGD 63,157,191, marking an increase of 4.0%[10] - The company's total equity increased to SGD 54,181,451 from SGD 52,253,306, representing a growth of 3.7%[12] - The company’s total liabilities increased to 43,152,747 SGD as of March 31, 2020, compared to 39,000,000 SGD in the previous year, reflecting a rise of approximately 10%[14] - Total cash and cash equivalents decreased to 11,028,704 SGD as of March 31, 2020, from 4,057,978 SGD in the previous year, representing a significant reduction[22] Revenue Breakdown - For the six months ended March 31, 2020, the total revenue from customer contracts was SGD 31,976,547, a decrease of 34.5% compared to SGD 48,902,808 for the same period in 2019[65] - The revenue from construction services, including civil engineering, was SGD 29,616,087, down from SGD 40,495,054, representing a decline of 26.9%[65] - The property investment segment generated revenue of SGD 278,201, slightly up from SGD 262,009 in the previous year, indicating a growth of about 6.2%[74] - Public customer revenue dropped by SGD 13.3 million or approximately 46.5%, while private customer revenue decreased by SGD 3.6 million or approximately 17.7%[191] Costs and Expenses - Financing costs rose to SGD 631,194, up 36.6% from SGD 462,074 in the previous year[7] - The group’s total employee costs, including directors' remuneration, amounted to SGD 4,896,840 for the six months ended March 31, 2020, compared to SGD 4,714,135 in the same period of 2019, an increase of approximately 3.9%[85] - Service costs reduced by approximately SGD 14.0 million or about 33.9%, totaling SGD 27.3 million for the six months ended March 31, 2020[192] - Administrative expenses remained stable at approximately SGD 2.8 million for the six months ended March 31, 2020[198] Strategic Initiatives - The company has plans for market expansion and new product development as part of its strategic initiatives moving forward[24] - The company is closely monitoring the situation and collaborating with clients and relevant government agencies to mitigate potential risks[182] - The construction projects were significantly impacted during the "circuit breaker" period from April 7 to June 1, 2020, leading to unavoidable delays[181] Accounting Changes - The company adopted the cumulative catch-up method for the initial application of IFRS 16, recognizing the cumulative impact as an adjustment to the opening balance of retained earnings[41] - IFRS 16 introduces significant changes in accounting for leases, requiring the recognition of right-of-use assets and lease liabilities for all leases[39] - The initial application of IFRS 16 took effect on October 1, 2019, impacting the accounting treatment of previously classified operating leases[40] - The group will recognize right-of-use assets and lease liabilities at the present value of future lease payments, affecting the consolidated financial position[46] Cash Flow and Financing - Operating cash flow before changes in working capital was 4,137,977 SGD for the six months ending March 31, 2020, down from 4,711,586 SGD in the previous year, indicating a decrease of about 12%[19] - The company raised approximately SGD 22.6 million from a share placement and public offering, netting SGD 15.2 million after expenses[167] - The company has no significant liquidity risk related to lease liabilities, which are monitored by the treasury department[158] Trade Receivables and Payables - The company’s trade receivables increased to 3,909,293 SGD as of March 31, 2020, compared to 7,630,136 SGD in the previous year, indicating a significant change in working capital dynamics[19] - As of March 31, 2020, total trade receivables amounted to SGD 7,029,895, a decrease from SGD 9,477,426 as of September 30, 2019, reflecting a decline of approximately 25.9%[120] - Trade payables increased to 5,569,235 SGD as of March 31, 2020, compared to 4,185,265 SGD as of September 30, 2019[145]

Financial Performance - The company's revenue increased by approximately 15.5% from about SGD 83.9 million in the fiscal year ending September 30, 2018, to approximately SGD 96.9 million in the fiscal year ending September 30, 2019[10]. - The gross profit margin slightly increased from approximately 15.7% to about 17.4% due to improved profitability in private client services[10]. - The net profit after tax was approximately SGD 4.9 million, a decrease from about SGD 6.8 million in the previous year, primarily due to increased listing and administrative expenses[10]. - The group's revenue increased by approximately 15.5% from SGD 83.9 million for the year ended September 30, 2018, to SGD 96.9 million for the year ended September 30, 2019[18]. - Net profit decreased by approximately 27.9% from SGD 6.8 million for the year ended September 30, 2018, to SGD 4.9 million for the year ended September 30, 2019, primarily due to listing expenses of SGD 3.8 million[18]. - Excluding listing expenses, net profit would have increased by approximately 17.6% to SGD 8.6 million for the year ended September 30, 2019[19]. - The construction services segment generated SGD 96.4 million in revenue, accounting for 99.5% of total revenue, with civil engineering contributing SGD 79.5 million (82.0%) and building construction SGD 15.7 million (16.3%) for the year ended September 30, 2019[26]. - Revenue from private clients increased significantly by approximately SGD 14.0 million or 44.3%, primarily due to 23 new private sector projects contributing SGD 17.3 million in revenue[29]. - Service costs rose by approximately 13.2% from SGD 70.7 million for the year ended September 30, 2018, to SGD 80.0 million for the year ended September 30, 2019, in line with revenue growth[30]. - Gross profit increased by approximately 28.0% from SGD 13.2 million for the year ended September 30, 2018, to SGD 16.9 million for the year ended September 30, 2019, with a gross margin improvement from 15.7% to 17.4%[31]. Financial Position - The company maintained a strong financial position with bank balances and cash of approximately SGD 20.9 million and a net debt-to-equity ratio of about 10.1% as of September 30, 2019[10]. - The net asset value was approximately SGD 52.3 million, equivalent to a net asset value per share of about SGD 0.11[10]. - The company had cash and cash equivalents totaling approximately SGD 20.9 million as of September 30, 2019, compared to SGD 3.7 million in the previous year[43]. - The debt-to-equity ratio as of September 30, 2019, was approximately 50.2%, a significant improvement from 101.4% in the previous year[48]. - The net proceeds from the share sale amounted to approximately HKD 86.3 million, which will be allocated to various purposes including strengthening financial status and enhancing fleet[58]. - The company pledged bank deposits and properties to secure bank financing, with performance guarantees amounting to approximately SGD 9.1 million as of September 30, 2019[54]. Corporate Governance - The company has a strong governance structure, with independent non-executive directors overseeing strategy and performance[62]. - The company has adopted all code provisions of the Corporate Governance Code as its own corporate governance practices since its listing on September 19, 2019[74]. - The board consists of two executive directors and three independent non-executive directors, ensuring independent judgment in overseeing the group's operations[76]. - The remuneration committee was established in August 2019, consisting of one executive director and two independent non-executive directors, to review and approve the remuneration policies for directors and senior management[81]. - The nomination committee was also established in August 2019, comprising one executive director and two independent non-executive directors, to oversee the nomination process for directors[84]. - The independent non-executive directors have confirmed their independence in accordance with the Listing Rules, ensuring adherence to relevant guidelines[77]. - The board is responsible for reviewing the effectiveness of the group's risk management and internal control systems[76]. - The company has committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[74]. - The company has established a nomination committee responsible for reviewing the board's structure, size, and composition, considering skills, knowledge, experience, and diversity[87]. - The company has adopted a board diversity policy aimed at maintaining high standards of corporate governance and enhancing board efficiency through diverse perspectives[99]. Environmental, Social, and Governance (ESG) - The group is committed to sustainable development and has established an Environmental, Social, and Governance (ESG) working group to oversee related initiatives[172]. - The company plans to continue enhancing its ESG performance and create greater value for the community[182]. - The total greenhouse gas emissions for the year ending September 30, 2019, amounted to 6,001.43 tons of CO2 equivalent[200]. - Direct greenhouse gas emissions from gasoline and diesel consumption (Scope 1) were recorded at 5,973.28 tons of CO2 equivalent[200]. - Indirect greenhouse gas emissions from purchased electricity (Scope 2) were 28.15 tons of CO2 equivalent[200]. - The company achieved a greenhouse gas emissions density of 26.57 tons of CO2 equivalent per employee, based on 226 full-time employees[200]. - The company has implemented an environmental management policy to regularly review and improve its environmental performance[190]. - Compliance costs related to environmental regulations are expected to continue in proportion to the company's operational scale[190]. - The company has adopted measures to reduce direct greenhouse gas emissions, including purchasing vehicles that meet EU emission standards and optimizing fuel consumption[197]. Shareholder Information - The company has ensured that at least 25% of its issued share capital is held by the public as of the report date[165]. - Major shareholders hold 360,000,000 shares, representing 75% of the issued share capital[142]. - The board of directors and senior management's shareholdings as of September 30, 2019, indicate that Mr. Fang and Mr. Zhang each hold 360,000,000 shares, representing 75% of the issued share capital[138]. - There are no provisions in the company's articles of association regarding preemptive rights for existing shareholders when new shares are issued[125]. - The company did not enter into any equity-linked agreements during the year or at the end of the fiscal year[126]. - The company has not purchased, sold, or redeemed any of its listed securities during the year ended September 30, 2019[145]. - The stock option plan allows for the issuance of up to 48,000,000 shares, which is 10% of the total shares issued as of the report date[150]. - No stock options were granted or exercised during the year ended September 30, 2019[155]. - The stock option plan is valid for ten years from the date of adoption, with no options granted to date[155]. - The exercise price for stock options will be determined by the board and must be at least the highest of the closing price on the date of the offer, the average closing price over the previous five trading days, or the nominal value[153]. Operational Insights - The company has over 30 years of experience in the Singapore construction industry, with key executives being co-founders[60]. - The executive team includes individuals with extensive backgrounds in construction management and finance, with experience ranging from 17 to over 30 years[70]. - The company has been involved in multiple sectors, including retail and food services, prior to its current focus on construction[61]. - The main business activities include construction services, property investment, and logistics related to construction materials, with no significant changes reported for the year ending September 30, 2019[116]. - The company became the holding company of the group on December 18, 2018, as part of a restructuring plan for its public listing[113]. - The company’s shares have been listed on the Stock Exchange since September 19, 2019[115]. - The company has not participated in any other pension plans aside from the Central Provident Fund for the year ending September 30, 2019[163]. - The group has not conducted any significant post-balance sheet events after September 30, 2019, until the report date[168]. - The company faces major risks and uncertainties as detailed in the management discussion and analysis section of the annual report[124].