Financial Performance - Revenue for the fiscal year 2023 increased by 149% to approximately SGD 9.91 million, up from about SGD 3.98 million in fiscal year 2022[8] - The company achieved a net profit of SGD 1.74 million in 2023, a significant improvement from a net loss of approximately SGD 2.71 million in 2022[8] - For the fiscal year 2023, the group's revenue was SGD 9.906 million, a substantial increase from SGD 3.983 million in 2022[30] - The group reported a pre-tax profit of SGD 2.414 million for 2023, recovering from a loss of SGD 2.423 million in 2022[30] - The total assets of the group reached SGD 31.596 million in 2023, up from SGD 27.454 million in 2022[30] - The net profit for the year ended December 31, 2023, was SGD 1.74 million, a significant increase of SGD 4.45 million or 164.2% YoY from a net loss of SGD 2.71 million in 2022[33] - Revenue increased from SGD 3.98 million in 2022 to approximately SGD 9.91 million in 2023, representing a growth of 149.0%, primarily due to project management fees of SGD 3.38 million from two completed development projects in Singapore and an increase of approximately SGD 4.4 million in dividend income from real estate funds[41] Operating Costs and Expenses - Operating costs increased, with employee costs rising by SGD 0.9 million and provisions for receivables and impairments totaling approximately SGD 0.37 million[8] - Other expenses decreased by 16.2%, from SGD 1.79 million in 2022 to SGD 1.5 million in 2023[8] - Employee costs rose by SGD 0.9 million or 23.4%, from SGD 3.85 million in 2022 to SGD 4.75 million in 2023, attributed to improved revenue and net profit leading to discretionary bonuses for eligible employees[33] - The increase in revenue was partially offset by operational cost increases, including a provision for impairment losses of approximately SGD 0.37 million related to receivables and a higher impairment loss of about SGD 0.3 million[40] - Financial asset impairment losses increased from SGD 0.21 million in 2022 to SGD 0.73 million in 2023, an increase of SGD 0.52 million or 247.6%[55] - Interest expenses surged from SGD 0.09 million in 2022 to SGD 0.62 million in 2023, an increase of SGD 0.53 million or 588.9%[58] Market and Economic Conditions - The Singapore economy grew by 2.2% in Q4 2023, with an annual growth rate projected at 1.1%[10] - Private residential property prices rose by 6.8% in 2023, contributing to a total increase of 26% over the past three years[10] - The overall interest rates are easing, and the private equity influx in Singapore is creating a stable and optimistic outlook for the group[20] - The group sees significant opportunities in the Australian housing market, with demand continuing to exceed supply post-pandemic[21] Project Developments - The Arina East residential project is expected to launch in Q2 2024, with anticipated price increases due to nearby project launches[15] - The Bukit Batok West Ave 8 project sold 100% of its units at a median price of SGD 1,479 per square foot[16] - The Landmark project has achieved prices of SGD 2,934 per square foot, with nearly 90% of units sold[16] - Revenue from acquisition and project management services increased from SGD 1.39 million in 2022 to SGD 3.55 million in 2023, a rise of SGD 2.16 million or 155.4%[48] Client and Asset Management - As of December 31, 2023, the group's assets under management exceeded SGD 4.75 million, representing a year-on-year increase of 3.81% compared to 2022[17] - The group has over 350 clients, with approximately 38% being repeat transaction clients, indicating strong customer loyalty and trust[17] - The group continues to leverage its expertise in integrated services to assist family offices in project development and asset acquisition in Singapore[9] - The group has a total of 23 private equity and fund structures across 22 real estate projects and assets in Singapore, Malaysia, Indonesia, Australia, and Hong Kong[37] Sustainability and Corporate Governance - The company is committed to sustainable development and corporate governance, as evidenced by its executives' involvement in various committees and boards[110] - The greenhouse gas emissions for 2023 were approximately 8.81 tons, a significant reduction of 61% compared to 22.9 tons in 2022[132] - Total electricity consumption for 2023 was 22,447 kWh, which represents a 60% decrease from 2022[136] - The company aims to reduce its carbon footprint by 5-10% by the end of 2024 through various energy-saving measures[134] - The company has implemented measures such as turning off air conditioning after hours and replacing lights with LED to improve energy efficiency[132] Employee Engagement and Development - The company has a diverse leadership team with extensive experience in real estate, project management, and legal compliance, ensuring effective governance and operational efficiency[104][107] - Employee engagement initiatives include annual town hall meetings and biannual dialogue sessions to address employee concerns and improve organizational communication[163] - A total of 24 employees received training, with 54% being male and 46% female, highlighting a balanced approach to employee development[176] - Average training time per employee was 7 hours, ensuring continuous skill enhancement across all levels[179] Compliance and Risk Management - The company has implemented strict anti-corruption policies and training for all new employees[188] - The company’s compliance responsibilities include anti-money laundering and cybersecurity measures[190] - The board's report includes a discussion of the main risks and uncertainties facing the business[193] - The company adheres to local employment laws and international labor principles, promoting fair employment practices[181]

Financial Performance - The group's revenue increased from SGD 3,983,000 in 2022 to SGD 9,906,000 in 2023, representing a growth of 149.0%[10] - Net profit for the year ended December 31, 2023, was SGD 1,737,000, a significant increase of SGD 4,450,000 or 164.2% compared to a net loss of SGD 2,707,000 in 2022[13] - The group achieved a pre-tax profit of SGD 2,414,000 in 2023, compared to a pre-tax loss of SGD 2,423,000 in the previous year[15] - The group maintained profitability for the fourth consecutive quarter, indicating a positive turnaround in financial performance since 2022[13] - The company reported a profit of SGD 1,737,000 for 2023, compared to a loss of SGD 2,707,000 in 2022, marking a turnaround in financial performance[162] Revenue Sources - The increase in revenue was attributed to project management fees of SGD 3,380,000 from two completed development projects and dividend income of approximately SGD 4,400,000 from real estate funds[13] - The investment management segment generated SGD 798,000 in revenue, while the fund management segment contributed SGD 5,521,000, and project management services brought in SGD 3,550,000[130] - The company’s project management services generated SGD 2,365,000 in revenue, reflecting a robust demand for these services in the real estate sector[130] - Total revenue for the year ended December 31, 2023, reached SGD 9,906,000, a significant increase from SGD 3,983,000 in 2022, representing a growth of approximately 148%[130] Assets and Liabilities - Total assets increased to SGD 31,596,000 in 2023 from SGD 27,454,000 in 2022, reflecting a growth of 15.5%[10] - The group's total liabilities rose to SGD 9,109,000 in 2023, up from SGD 6,501,000 in 2022, indicating an increase of 40.5%[10] - The group's total equity increased from SGD 20,953,000 to SGD 22,487,000, reflecting a growth of about 7.3% year-over-year[20] - The group's total non-current assets decreased from SGD 3,724,000 to SGD 3,210,000, a decline of approximately 13.8% year-over-year[19] - Current assets increased from SGD 23,730,000 to SGD 28,386,000, representing a growth of about 19.4% year-over-year[19] Cash Flow - The group's operating cash flow improved significantly, with a net cash flow from operating activities of SGD 3,756,000 compared to a cash outflow of SGD 1,707,000 in the previous year[24] - The group's investment cash flow was positive at SGD 2,347,000, down from SGD 4,361,000 in the previous year, indicating a decrease in investment activities[24] - Net cash flow from financing activities was SGD 831,000, compared to a net outflow of SGD 865,000 in the previous year[25] - Cash and cash equivalents increased by SGD 6,934,000, up from SGD 1,789,000 in the previous year[25] - The group reported a financial asset impairment loss of SGD 733,000 in 2023, compared to SGD 205,000 in 2022[15] Employee Costs - Employee costs rose by SGD 900,000 or 23.4%, from SGD 3,853,000 in 2022 to SGD 4,750,000 in 2023, primarily due to improved revenue and net profit leading to discretionary bonuses[13] - Total remuneration for directors increased from SGD 1,468,000 in 2022 to SGD 1,954,000 in 2023, representing a 33% increase[148] - The total remuneration for executive directors and senior management was SGD 1,954,000 in 2023, compared to SGD 1,468,000 in 2022, showing a 33% increase[152] Taxation - The income tax expense for 2023 was SGD 677,000, up from SGD 284,000 in 2022, reflecting a significant increase of 138%[160] - The company did not incur any tax provisions for operations in other countries or jurisdictions, as there were no taxable profits generated outside Singapore[159] Financial Instruments and Fair Value - The group measures financial instruments at fair value, including unquoted equity investments and financial derivatives, based on observable market data whenever possible[40] - The group classifies fair value measurements into three levels: Level 1 (quoted prices in active markets), Level 2 (significant other observable inputs), and Level 3 (unobservable inputs)[42] - The fair value of financial derivatives is measured using the Black-Scholes model, with inputs derived from observable markets when possible[119] Impairment and Provisions - The company has set aside a specific provision for impairment losses on financial assets amounting to SGD 5,085,000 as of December 31, 2023, related to legal proceedings[118] - The impairment provision for trade receivables decreased from SGD 508,000 at the beginning of 2023 to SGD 226,000 by year-end, following a write-off of SGD 345,000[180] - Provisions are recognized when there is a present obligation arising from past events, and it is probable that an outflow of resources will be required to settle the obligation[105] Dividends and Shareholder Returns - Cash dividends declared to shareholders are recognized as a liability when authorized and approved by shareholders[49] - No dividend will be paid for the fiscal year ending December 31, 2023, consistent with the previous year[164] Related Party Transactions - The company reported receivables from related parties totaling SGD 3,432,000 in 2023, slightly up from SGD 3,427,000 in 2022[187] - The group’s payables to related parties amounted to SGD 2,092,000 in 2023, compared to SGD 224,000 in 2022, indicating a significant increase[198] Other Financial Metrics - Basic and diluted earnings per share improved to SGD 0.09 in 2023, compared to a loss of SGD 0.14 per share in 2022[13] - The carrying amount of trade receivables was SGD 4,135,000 as of December 31, 2023, compared to SGD 3,888,000 in 2022, reflecting an increase in receivables[117] - The company’s investment in subsidiaries remained stable at SGD 11,775,000 as of December 31, 2023, after accounting for impairment provisions[188]

Financial Performance - Revenue for the nine months ended September 30, 2023, increased to SGD 6,887,000, representing a growth of 133.6% compared to SGD 2,949,000 for the same period in 2022[10] - The pre-tax profit for the nine months was SGD 2,032,000, a significant improvement from a loss of SGD 1,002,000 in the previous year[10] - Basic and diluted earnings per share for the nine months were approximately SGD 0.08, compared to a loss of SGD 0.05 for the same period in 2022[13] - Revenue for the three months ended September 30, 2023, was SGD 1,582,000, an increase of 64.5% compared to SGD 961,000 in the same period of 2022[14] - The company reported a profit attributable to owners of SGD 237,000 for the three months ended September 30, 2023, compared to a loss of SGD 469,000 in the same period of 2022[16] - For the nine months ended September 30, 2023, the profit attributable to owners was SGD 1,675,000, a significant recovery from a loss of SGD 1,002,000 in the same period of 2022[16] - The company reported a net profit of SGD 1.68 million for the nine months ended September 30, 2023, compared to a net loss of SGD 1.00 million in the previous year, representing an increase of SGD 2.68 million or 268% YoY[43] Revenue Breakdown - The increase in revenue was attributed to project management fees of SGD 3,380,000 from two completed development projects and an increase in dividend income of approximately SGD 2,030,000[13] - Revenue from investment management services in Singapore was SGD 6,413,000 for the nine months ended September 30, 2023, up 156.5% from SGD 2,503,000 in the same period of 2022[28] - The revenue from project management services increased to SGD 3,498,000 for the nine months ended September 30, 2023, compared to SGD 1,294,000 in the same period of 2022, reflecting a growth of 170.5%[30] - The revenue from fund management fees was SGD 3,007,000 for the nine months ended September 30, 2023, compared to SGD 1,071,000 in the same period of 2022, marking an increase of 180.5%[32] - The investment management segment's revenue decreased from SGD 0.56 million to SGD 0.35 million, a decline of 37.5% due to reduced dividend income from special purpose entity investments[48] - The acquisition and project management revenue rose from SGD 1.29 million to SGD 3.50 million, an increase of SGD 2.21 million or 171.3% due to project management fees received after the completion of development projects[50] Assets and Liabilities - Total assets as of September 30, 2023, were SGD 31,272,000, an increase from SGD 27,454,000 in the previous year[10] - Total liabilities increased to SGD 8,632,000 from SGD 6,501,000 year-on-year[10] - Net assets as of September 30, 2023, were SGD 22,640,000, compared to SGD 20,953,000 in the previous year[10] - The company’s total equity as of September 30, 2023, was SGD 22,640,000, an increase from SGD 20,953,000 as of the beginning of the year[18] - The company's debt-to-equity ratio improved to 9.0% from 13.3% in the previous year[66] Employee Costs - Employee costs rose to SGD 3,810,000, an increase of 29.2% from SGD 2,950,000 in the previous year, primarily due to improved performance and discretionary bonuses[13] - The company experienced a decrease in employee costs to SGD 979,000 for the three months ended September 30, 2023, from SGD 950,000 in the same period of 2022[14] Future Plans and Strategies - The company plans to continue focusing on project management and fund management to drive future growth[13] - The company is focusing on expanding its fund structures and project management services across Singapore and Australia[40] - The company continues to monitor the business environment post-COVID-19 and may consider resuming financial advisory services if conditions improve[52] - The company is actively exploring opportunistic assets outside Singapore, particularly in the Australian real estate market[89] Shareholder Information - As of September 30, 2023, Mr. Yao and Ms. Shen each hold 1,298,600,000 ordinary shares, representing 64.93% of the total issued shares of the company[100] - ZACD Investments Pte. Ltd. is recognized as the beneficial owner of 1,298,600,000 ordinary shares, also accounting for 64.93% of the total issued shares[100] - The company has issued a convertible loan agreement to ZACD (Neew) Pte. Ltd. for an amount of SGD 2,000,000, convertible into up to 19.40% of the expanded issued share capital[98] Legal and Compliance - Legal costs related to actions against iProsperity Group amounted to SGD 1,754,000 as of September 30, 2023, up from SGD 1,292,000 as of December 31, 2022[75] - The company has adopted a securities trading code of conduct for directors, ensuring compliance with the required trading standards[99] - The company continues to monitor and comply with the GEM Listing Rules regarding the disclosure of interests and short positions[99] Market Performance - The industrial real estate market in Singapore remains resilient due to tight supply and low vacancy rates, with the company planning to supplement its land reserves[88] - The residential project Landmark has achieved over 81% sales, with 320 units sold as of October 10, 2023[87] - The Altura Executive Condominium project launched in August 2023 sold 61% of its units on the first day of sales[87] - The company plans to launch two additional residential projects, La Ville and Mount Emily, expected to start sales in Q4 2023 or early 2024[88]

Revenue and Profitability - The company's revenue for the six months ended June 30, 2023, was SGD 5.305 million, an increase of 166.5% from SGD 1.988 million in the same period last year[9]. - Net profit for the same period was SGD 1.438 million, compared to a net loss of SGD 0.533 million in the previous year, representing an improvement of 369.8%[11]. - The increase in revenue was primarily driven by project management fees of SGD 2.98 million and interest income of SGD 1.62 million from real estate funds managed by the company[11]. - Basic and diluted earnings per share for the six months ended June 30, 2023, were approximately SGD 0.07, compared to a loss of SGD 0.03 in the same period last year[11]. - Total comprehensive income for the period was SGD 1,445,000, compared to a loss of SGD 542,000 in the same period of 2022[19]. - The company reported a profit attributable to owners of SGD 1,438,000 for the first half of 2023, compared to a loss of SGD 533,000 in the same period of 2022[17]. - The company reported a pre-tax profit of SGD 1,438,000 for the six months ended June 30, 2023, compared to a loss of SGD 533,000 in the same period of 2022[69]. - The company recorded a net profit of SGD 1.44 million for the first half of 2023, an increase of SGD 1.97 million or 369.8% compared to a net loss of SGD 0.53 million in the previous period[178]. Assets and Liabilities - Total assets as of June 30, 2023, were SGD 31.136 million, up from SGD 27.454 million at the end of the previous year[9]. - The company's total liabilities increased to SGD 8.738 million from SGD 6.501 million in the previous year[9]. - Current assets increased to SGD 27,540,000 as of June 30, 2023, compared to SGD 23,730,000 at the end of 2022, reflecting a growth of approximately 16.5%[22]. - The company's total equity increased to SGD 22,398,000 as of June 30, 2023, compared to SGD 20,953,000 at the end of 2022[24]. - The company has a total of SGD 3,250,000 in refundable tender deposits as current assets as of June 30, 2023, compared to zero as of December 31, 2022[88]. - Financial assets as of June 30, 2023, totaled SGD 29,902,000, with SGD 9,446,000 in cash and cash equivalents[146]. - Financial liabilities as of June 30, 2023, amounted to SGD 7,974,000, including SGD 1,254,000 in financial derivatives[148]. Cash Flow and Expenses - The net cash flow from operating activities for the first half of 2023 was negative SGD 825,000, an improvement from negative SGD 1,527,000 in the same period of 2022[32]. - The group generated a net cash inflow from investing activities of SGD 1,505,000, down from SGD 3,814,000 in the first half of 2022[32]. - Financing activities resulted in a net cash inflow of SGD 1,127,000, compared to a net outflow of SGD 525,000 in the same period of the previous year[32]. - Employee costs rose by SGD 0.83 million, or 41.5%, due to improved revenue and net profit, along with discretionary bonuses for eligible employees[11]. - Interest expenses escalated from SGD 40,000 to SGD 290,000, an increase of SGD 250,000 or 625%, mainly due to coupon payments owed to investors[199]. - The company incurred interest expenses of SGD 285,000 in the first half of 2023, significantly higher than SGD 42,000 in the same period of 2022[17]. Segment Performance - The investment management segment reported a loss of SGD 62,000, while the fund management segment generated a profit of SGD 1,496,000, indicating a strong performance in fund management[50]. - The property management and leasing management segments contributed revenues of SGD 3,072,000 and SGD 18,000, respectively, showcasing the company's diversified service offerings[50]. - Fund management revenue surged from SGD 540,000 to SGD 2,190,000, an increase of SGD 1,650,000 or 305.6%, primarily due to dividend income from a real estate fund[187]. - Acquisition and project management services revenue rose from SGD 1,250,000 to SGD 3,070,000, an increase of SGD 1,820,000 or 145.6%, driven by project management fees from completed development projects[188]. Financial Instruments and Fair Value - The fair value of financial derivative instruments measured at level three was SGD 1.25 million, down from SGD 1.36 million at the end of 2022[169]. - The fair value of financial instruments is approximated by their carrying amounts due to their short maturity, including trade receivables and cash equivalents[154]. - The fair value of non-listed equity securities is estimated using a discounted cash flow model, with a significant unobservable input range of 68% to 96%[159]. - A 10% decrease in the input data for non-listed equity securities would not lead to a change in fair value, while an 18% increase would decrease fair value by SGD 30,000[159]. Strategic Developments - The company is in the process of establishing an independent investment fund, the ZACD US Fund, with an investment of USD 10 million for hotel acquisitions led by iProsperity Group[140]. - The company has entered into a short-term transitional loan agreement of SGD 1,400,000 with ZACD Mount Emily Residential Development Fund during the financial period[100]. - The company has provided a financial guarantee totaling SGD 129,086,250 for the La Ville Development project, representing 75% of the total debt under the financing agreement[131]. - The company has not signed new contracts in the property management segment as it evaluates strategic directions[191].

Financial Performance - The company's unaudited revenue for the three months ended March 31, 2023, increased by approximately SGD 2.53 million or 547.7% to approximately SGD 2.99 million compared to SGD 0.46 million for the same period in 2022[10] - Net profit for the review period was approximately SGD 0.68 million, an improvement from a net loss of approximately SGD 0.76 million in the previous period[10] - Basic and diluted earnings per share for the review period were approximately SGD 0.03, compared to a loss of SGD 0.04 per share for the same period in 2022[10] - The company reported a profit of SGD 681,000 for the three months ended March 31, 2023, compared to a loss of SGD 760,000 for the same period in 2022[39] - The total comprehensive income for the period was SGD 723,000, which includes foreign exchange gains of SGD 44,000, compared to a total comprehensive loss of SGD 723,000 in the previous year[12] - The total accumulated losses as of March 31, 2023, were SGD 10,864,000, a decrease from SGD 9,598,000 in the previous year, indicating a gradual improvement in financial health[12] Revenue Sources - The increase in revenue was mainly attributed to project management fees of SGD 2.63 million received from a special purpose entity developer after substantial completion of development projects[10] - Revenue from acquisition and project management fees surged to SGD 2,669,000, up from SGD 12,000 in the same period last year, indicating a growth of 22,241%[34] - Revenue from investment management services was SGD 13,000 for special purpose entity management fees and SGD 295,000 for fund management fees, compared to SGD 169,000 and SGD 270,000 respectively in the previous year[34] - Revenue from Singapore accounted for SGD 2,826,000, a substantial increase from SGD 329,000 in the previous year, reflecting a growth of 759%[28] Expenses - Employee costs increased by approximately SGD 0.71 million or 71.6%, totaling approximately SGD 1.71 million, primarily due to discretionary bonuses granted to eligible employees[10] - Total expenses for the review period included interest expenses of SGD 0.14 million, which increased by SGD 0.12 million compared to the previous period[11] - The company’s employee costs accounted for 74% of total expenses, up from 61% in the previous period[10] - Other income and gains decreased by approximately SGD 0.22 million during the review period[10] - The company recorded a tax expense of SGD 0.18 million for the review period, compared to no tax expense in the previous period[11] Business Segments and Operations - The company operates through several business segments, including investment management, project management, property management, and financial advisory services, which are crucial for revenue generation[15] - The investment management segment includes the establishment of special purpose entities for real estate projects, which is a key area for generating management fees and performance fees[20] - The company managed properties including residential and non-residential assets, providing maintenance and financial services[25] - The company’s project management services include various stages of real estate development, indicating a focus on comprehensive service offerings for real estate developers[30] Compliance and Governance - The financial statements are prepared in accordance with International Financial Reporting Standards and Singapore Financial Reporting Standards, ensuring compliance and transparency in financial reporting[16] - The company has not adopted any new accounting standards that would significantly impact the first quarter results, maintaining consistency with previous accounting policies[17] - The Audit Committee was established in accordance with the board resolution passed on December 13, 2017, and complies with GEM Listing Rules[115] - The Audit Committee consists of three independent non-executive directors, with Mr. Jiang Zhiwu serving as the chairman[115] Future Outlook and Developments - The company is actively seeking to expand its real estate investment portfolio through private equity real estate funds, enhancing its market presence and potential returns[22] - The company aims to expand its property management services and develop family office management business[91] - The company will continue to assess potential uncertainties from property cooling measures, inflation pressures, and rising interest rates[91] - The group is focusing on expanding its fund structure and management assets, with no significant changes in the number of funds managed[53] Legal and Financial Guarantees - The company has provided a financial guarantee totaling SGD 129,086,250 for the La Ville Development project, representing 75.0% of the total liabilities under the financing agreement[68] - A financial guarantee of SGD 29,980,000 has been established for the BBEC Development project, accounting for 10.0% of the total liabilities under the financing agreement[69] - The company has guaranteed SGD 19,253,107 for the Mount Emily Properties project, which reflects the total liabilities under the financing agreement[71] - A financial guarantee of SGD 28,985,400 has been provided for the Mandai Development project, representing 60.0% of the total liabilities under the financing agreement[72] - The company has established a guarantee of SGD 150,744,796 for the Landmark Development project, which corresponds to 39.2% of the total liabilities under the financing agreement[74] Shareholder Information - As of March 31, 2023, Mr. Yao and Ms. Shen collectively own 1,298,600,000 shares, representing 64.93% of the company's issued share capital[107] - Rachman Sastra holds 175,350,000 shares, representing 8.77% of the company's issued share capital[107] - Harmonious Tidings Limited holds 125,600,000 shares, representing 6.28% of the company's issued share capital[107] - The company has not received any notifications regarding interests or short positions in its shares or related securities as of March 31, 2023[110] Market Conditions - Singapore's economy grew by 0.1% year-on-year in Q1 2023, down from 2.1% in the previous quarter[87] - Private residential property price index increased by 3.2% from 188.6 points in Q4 2022 to 194.6 points in Q1 2023[87] - Private residential property rental growth was 7.4% in Q4 2022, a decrease from 8.6% in the previous quarter, marking the 9th consecutive quarter of rental growth[87] - Construction sector grew by 8.5% year-on-year in Q1 2023, following a 10.0% growth in the previous quarter[87] - The additional buyer's stamp duty for foreign buyers increased from 30% to 60%[88]

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，並明確表示不會就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的任何 損失承擔任何責任。 ZACD GROUP LTD. 杰 地 集 團 有 限 公 司 * （ 於新加坡註冊成立的有限公司 ） （ 股份代號 : 8313 ） 截至二零三年三月三十一日止第一季度業績公告 這是杰地集團（「本公司」，連同其子公司統稱為「集團」）董事会（「董事会」）特此宣布本 集團截至二零二三年三月三十一日止三個月未經審計的合併業績（「第一季度業績」），以及截 至二零二二年三月三十一日止三個月未經審計的比較數據。本公告包含公司第一季度业绩报告全 文，符合证券交易所创业板证券上市规则（「创业板上市规则」）的相关要求。 承董事會命 杰地集團有限公司* 主席兼執行董事 沈娟娟 新加坡，二零二三年五月十五日 於本公告日 ...

Financial Performance - The company reported a loss of SGD 2.7 million for the fiscal year 2022, compared to a profit of SGD 7.5 million in 2021, primarily due to the absence of impairment losses in 2022[7]. - Operating revenue decreased by 28.8% year-on-year, from SGD 5.6 million in 2021 to SGD 4 million in 2022, a reduction of SGD 1.6 million[7]. - The company reported a revenue of approximately SGD 3,983,000 for the fiscal year ended December 31, 2022, a decrease of 28.8% or about SGD 1,600,000 compared to SGD 5,596,000 in 2021[23]. - The net loss for 2022 was approximately SGD 2,707,000, a shift from a profit of SGD 7,461,000 in 2021, representing a decline of about 136.3% or SGD 10,200,000[29]. - Total pre-tax profit for 2022 was a loss of SGD 2.4 million, compared to a profit of SGD 7.5 million in 2021[33]. Asset Management and Client Base - The company's asset management scale increased by 6% year-on-year, exceeding SGD 458 million as of December 31, 2022[14]. - The company has over 346 clients, with repeat transaction clients accounting for approximately 35% of the client base, indicating strong client loyalty[14]. - The company has a total of 28 private equity and fund structures across real estate projects in Singapore, Malaysia, Indonesia, and Australia[28]. Project Developments - The La Ville residential development project is expected to launch in the second half of 2023, benefiting from its prime location and market conditions[12]. - The FoodFab@Mandai industrial project won the Best Industrial Development at the 2022 PropertyGuru Asia Property Awards and has sold out, with a total return increase of 24%[12]. - The company is collaborating with Qingjian Realty to launch a new executive condominium project in Bukit Batok West Ave 8 in 2023, marking the first new project of its kind in the western region in years[12]. - The collective sale of La Ville and Mount Emily Properties is progressing well, with construction expected to start in H2 2023, and both projects anticipated to be well-received due to their location and pricing[67]. - The Jadescape project received a temporary occupation permit in Q4 2022, and the company expects to receive performance fees in 2023 as the project is fully sold[67]. - The Foodfab@Mandai industrial project has been fully sold, with completion planned for Q1 2023, and the company anticipates receiving project management and performance fees due to exceeding initial return forecasts[67]. Market Outlook and Strategy - The overall growth of the wealth management industry, particularly family offices, is expected to create a stable and optimistic outlook for the company[8]. - The company anticipates that the recent changes to the buyer's stamp duty will positively impact the market amid continued wealth inflow into Singapore[11]. - The company aims to expand its business footprint into the Asia-Pacific region and beyond, leveraging its successful track record in real estate development[15]. - The company is positioned to assist family offices in project development and asset acquisition, capitalizing on the trend of capital flowing into safer real estate investments[17]. - The company plans to expand its real estate acquisition and project management business, as well as its property management services and family office management business, in response to market transformations in Singapore[69]. Revenue and Cost Analysis - Investment management revenue decreased from approximately SGD 896,000 in 2021 to SGD 706,000 in 2022, a decline of about SGD 190,000 or 21.2%[35]. - Fund management revenue fell from approximately SGD 2.6 million in 2021 to SGD 1.9 million in 2022, a decrease of about SGD 710,000 or 27.7%[35]. - Acquisition and project management revenue dropped from approximately SGD 2 million in 2021 to SGD 1.4 million in 2022, a decline of about SGD 607,000 or 30.5%[37]. - Other income and gains increased from approximately SGD 911,000 in 2021 to SGD 1.2 million in 2022, an increase of about SGD 332,000 or 36.4%[40]. - Employee costs decreased from approximately SGD 4.2 million in 2021 to SGD 3.9 million in 2022, a reduction of about SGD 386,000 or 9.1%[41]. Current Assets and Liabilities - The company’s total current assets decreased to SGD 23,730,000 in 2022 from SGD 25,815,000 in 2021, a decline of approximately 8.0%[23]. - The group's net current assets decreased from approximately SGD 23.4 million as of December 31, 2021, to approximately SGD 20.4 million as of December 31, 2022, primarily due to net repayments of transitional advances to fund entities of about SGD 4.1 million[56]. - The current ratio of the group decreased from 10.8 times as of December 31, 2021, to 7.2 times as of December 31, 2022[56]. - The total current liabilities of the group increased from approximately SGD 2.4 million as of December 31, 2021, to approximately SGD 3.3 million as of December 31, 2022[57]. Sustainability and ESG Initiatives - A new sustainability strategy has been introduced, aiming to reduce operational costs by J% over the next three years[81]. - The company aims to minimize environmental impact by reducing carbon footprint and improving resource efficiency[108]. - The board emphasizes the integration of sustainability issues into strategic planning, identifying significant ESG factors relevant to the organization[97]. - The company achieved a 22% reduction in greenhouse gas emissions, from 29.4 tons in 2021 to approximately 22.91 tons in 2022[30]. - The total electricity consumption for 2022 was 56,600 kWh, a decrease of 22% compared to 2021[115]. Employee Engagement and Development - The company has 34 employees, with 55% being female and 50% male[127]. - 99% of the employees are full-time, while 1% are part-time[127]. - The company aims to enhance employee retention methods and expand existing practices, including implementing medical specialty compensation for all employees in 2023[132]. - Employee turnover rate is 44% for males and 56% for females, with 22% for those under 30, 67% for ages 31-50, and 11% for those over 50[136]. - The company plans to integrate training and development with a skills framework in 2023[152]. Governance and Compliance - The group has a dedicated compliance team that ensures adherence to anti-corruption policies and conducts training on anti-money laundering and compliance[166]. - The board has adopted a dividend policy, with any proposed dividends subject to board discretion and requiring shareholder approval for any final dividends[178]. - The group had no significant intellectual property disputes or infringement incidents during the reporting period[168]. - All independent non-executive directors have confirmed their independence as of the report date, in compliance with GEM listing rules[191].

Financial Performance - The group's unaudited revenue decreased by 18.8% to approximately SGD 2.9 million for the nine months ended September 30, 2022, down from approximately SGD 3.6 million in the same period last year[10] - The group recorded a net loss of approximately SGD 1 million for the nine months ended September 30, 2022, compared to a net profit of approximately SGD 6.8 million in the same period last year, representing a turnaround of approximately 114.8%[10] - Basic and diluted loss per share was approximately 0.05 Singapore cents, compared to a profit of 0.34 Singapore cents in the previous year[10] - The company reported a total comprehensive loss attributable to owners of the company of SGD (733) thousand for the nine months ended September 30, 2022, compared to a profit of SGD 7,908 thousand in the same period last year[16] - The company experienced a significant increase in losses, with a total loss of SGD (1,002) thousand for the nine months ended September 30, 2022, compared to a loss of SGD 6,769 thousand in the same period last year[16] - The company reported a comprehensive loss of SGD (1,275) thousand for the nine months ended September 30, 2022, compared to a comprehensive loss of SGD 6,299 thousand in the previous year[22] - The company recorded a pre-tax loss of SGD 469,000 for the three months ended September 30, 2022, compared to a profit of SGD 7,931,000 for the same period in 2021[64] - For the nine months ended September 30, 2022, the company reported a loss attributable to owners of SGD 1,002,000 compared to a profit of SGD 6,769,000 for the same period in 2021, representing a significant decline[64] Revenue Breakdown - Total revenue for the nine months ended September 30, 2022, was SGD 2,949,000, a decrease from SGD 3,634,000 in the same period of 2021, representing a decline of approximately 18.9%[49] - Revenue from Singapore for the nine months was SGD 2,503,000, down from SGD 3,445,000 in the previous year, indicating a decrease of about 27.4%[47] - The investment management segment generated SGD 1,071,000 in fund management fees for the nine months, an increase from SGD 738,000 in the same period last year, reflecting a growth of approximately 45%[55] - The acquisition and project management services reported revenue of SGD 1,294,000 for the nine months, compared to SGD 1,977,000 in the previous year, showing a decline of about 34.6%[55] - Property management and leasing management fees totaled SGD 29,000 for the nine months, consistent with the previous year, indicating stable performance in this segment[55] - The revenue from external clients in Australia increased to SGD 87,000 for the nine months, up from SGD 57,000 in the previous year, marking a growth of approximately 52.6%[47] Costs and Expenses - Total employee costs decreased by 10.1% to approximately SGD 3 million, with the number of employees slightly reduced from 34 to 33[10] - Project management and acquisition costs increased from approximately SGD 380,000 in the previous period to approximately SGD 1.2 million in the review period[10] - The company incurred professional fees of SGD 247,000 for the nine months ended September 30, 2022, an increase from SGD 145,000 in the same period of 2021[59] - Other expenses, net increased by approximately SGD 117,000 or 9.6% from about SGD 1,200,000 to approximately SGD 1,300,000[107] Dividends and Shareholder Information - The group did not declare any dividends for the nine months ended September 30, 2022, consistent with the previous year[10] - The company has not issued any options under the share option plan as of September 30, 2022[115] - Mr. Yao and Ms. Shen hold 51% and 49% of the issued share capital of ZACD Investments, respectively[135] - As of September 30, 2022, Mr. Yao and Ms. Shen are deemed to have interests in all shares held by ZACD Investments, totaling 1,298,600,000 shares, representing 64.93% of the issued share capital[144] Operational Focus and Strategy - The company continues to focus on investment management services, including special purpose entity investment management and fund management, as part of its core operations[29] - The group continues to streamline existing operations to focus on core revenue streams and is actively seeking growth opportunities in attractive assets and underperforming assets with redevelopment potential, particularly in Singapore and nearby regions[119] - The group is focused on creating a pipeline of acquisition assets for its investment management, acquisition, and project management businesses[119] - The company is actively managing its investments through special purpose entities to provide investment management services to real estate project investors[36] - The group acknowledges the competitive nature of the real estate industry in Singapore but believes it can leverage its local expertise to capture growth opportunities[119] Legal and Compliance - The company has not made any provisions for contingent liabilities as of September 30, 2022, after external lawyers found no evidence of negligence or fraud by the company's management[78] - The audit committee consists of three independent non-executive directors and has reviewed the financial performance for the nine months ending September 30, 2022[152] - The company has complied with the required trading standards and codes of conduct for directors since the listing date[143] Future Outlook - The group is closely monitoring the long-term impacts of the COVID-19 pandemic, rising interest rates, and inflation on its performance and will adjust its operational and business strategies as necessary[119] - The group sees growth potential in the family office sector, particularly in Southeast Asia, through partnerships with public and private sectors[122] - The company is currently executing nine corporate advisory mandates, including investment advisory services for a family office with assets of approximately USD 100 million[83]

Revenue and Income - The group's revenue increased by approximately 7.2%, from SGD 1.9 million in the previous period to SGD 2.0 million in the current period[10] - Other income and gains rose from SGD 399,000 to SGD 596,000, an increase of approximately 49.4%[10] - Revenue for the six months ended June 30, 2022, was SGD 1,988 million, an increase from SGD 1,855 million in the same period of 2021, representing a growth of approximately 7.2%[4] - Total revenue for the six months ended June 30, 2022, was SGD 1,988,000, representing an increase from SGD 1,855,000 in the same period of 2021[86] - Investment management fees contributed SGD 1,247 million, while property management and leasing fees accounted for SGD 19 million, indicating a strong performance in investment management[86] - Other income and gains totaled SGD 596 million, up from SGD 399 million year-over-year, reflecting a growth of approximately 49.5%[86] Financial Performance - The group recorded a net loss of approximately SGD 533,000, an improvement of approximately 54.1% compared to a net loss of SGD 1.2 million in the previous period[10] - Basic and diluted loss per share was approximately SGD 0.03, compared to SGD 0.06 in the previous period[10] - The company reported a loss of SGD 533 million for the period, an improvement compared to a loss of SGD 1,162 million in the prior year, indicating a reduction in losses by about 54.1%[4] - Total comprehensive loss attributable to owners for the period was SGD 542 million, down from SGD 1,609 million in the previous year, reflecting a decrease of approximately 66.3%[4] - The group reported a pre-tax loss of SGD 533 million for the six months ended June 30, 2022, compared to a loss of SGD 1,162 million in the same period of 2021, showing an improvement in financial performance[93] Assets and Liabilities - Trade receivables increased significantly to SGD 4,249 million from SGD 3,246 million, marking a rise of about 30.9%[4] - Cash and cash equivalents stood at SGD 11,269 million, up from SGD 7,647 million, indicating a substantial increase of approximately 47.5%[4] - Non-current assets decreased slightly to SGD 2,481 million from SGD 2,501 million, a decline of about 0.8%[4] - The company's equity totalled SGD 23,188 million, down from SGD 23,730 million, representing a decrease of approximately 2.3%[4] - Total assets as of June 30, 2022, amounted to SGD 19,665,000, with total liabilities of SGD 4,683,000[69] Cash Flow - Operating cash flow before changes in working capital was a negative SGD 560,000, an improvement from negative SGD 879,000 year-over-year[38] - The net cash used in operating activities was SGD 1,567,000, compared to SGD 963,000 in the previous period, reflecting increased operational expenditures[38] - Cash flow from investing activities showed a net inflow of SGD 3,814,000, a significant recovery from a net outflow of SGD 6,474,000 in the prior period[41] - The net increase in cash and cash equivalents was SGD 1,762,000, with a closing balance of SGD 7,647,000 compared to SGD 4,980,000 in the previous period[41] Trade Receivables and Impairments - Trade receivables, net of impairment, increased to SGD 4,249 million as of June 30, 2022, compared to SGD 3,246 million as of December 31, 2021[102] - The impairment provision for trade receivables rose to SGD 508 million as of June 30, 2022, from SGD 331 million at the end of the previous year, indicating increased caution in receivables management[105] - The aging analysis of trade receivables shows that overdue amounts over three months were SGD 2,663,000, a decrease of 4.7% from SGD 2,795,000 in the previous period[108] - The company believes that no impairment provision is necessary for overdue trade receivables due to the good credit quality of its customers[111] Capital Expenditure and Investments - The company’s capital expenditure for the period was SGD 48,000, reflecting investments in property and equipment[74] - The company provided a transitional loan of SGD 5,000,000 to ZACD Mount Emily Residential Development Fund, with a 6% annual interest rate[130] - The company entered into a transitional loan agreement of SGD 18 million with ZACD LV Development Fund on February 1, 2022, also at an interest rate of 6% per annum[138] Related Party Transactions and Guarantees - The group reported significant related party transactions, including acquisition and project management fees of SGD 1,207,000 for Mandai 7 JV Pte. Ltd. and ZACD LV Development Pte. Ltd.[172] - The group provided a financial guarantee totaling SGD 129,086,250 to support the La Ville Development project, representing 75.0% of the total liabilities under the financing agreement[182] - A guarantee of SGD 150,744,796 was provided for the Landmark Development project, which is 39.2% of the total liabilities under the financing agreement[188] Strategic Initiatives - The company continues to provide investment management services through special purpose entities, focusing on real estate projects[50] - The company is actively involved in fund management, aiming to maximize internal rates of return for its investors[53] - The company plans to continue expanding its property management and leasing services to enhance revenue streams[60] - The company is actively involved in the redevelopment of residential projects in Singapore, including the La Ville project[137]

Financial Performance - The group's unaudited revenue decreased by 53.7% to approximately SGD 461,000 for the three months ended March 31, 2022, compared to SGD 995,000 for the same period in 2021[11]. - The net loss for the review period increased by 78.8% to approximately SGD 760,000, compared to a net loss of SGD 425,000 in the previous period[11]. - Basic and diluted loss per share for the review period was approximately 0.04 Singapore cents, compared to a loss of 0.02 Singapore cents in the previous period[11]. - Total comprehensive income for the three months ended March 31, 2022, was a loss of SGD 760,000 compared to a loss of SGD 723,000 for the same period in 2021, indicating a slight increase in losses[17]. - The total comprehensive loss attributable to equity holders for the three months ended March 31, 2022, was SGD 683,000, compared to a loss of SGD 425,000 in the previous year, reflecting a 60.6% increase in losses[17]. - The company reported a pre-tax loss of SGD 760,000 for the three months ended March 31, 2022, compared to a loss of SGD 425,000 in the same period last year[53]. - Total revenue for the three months ended March 31, 2022, was SGD 461,000, compared to SGD 995,000 for the same period in 2021, representing a decrease of 53.7%[46]. - The investment management segment's unreviewed revenue decreased from approximately SGD 475,000 to approximately SGD 169,000, a reduction of approximately SGD 306,000 or 64.4%[69]. - Fund management revenue increased by approximately SGD 80,000 or 42.1% from approximately SGD 190,000 to approximately SGD 270,000, attributed to services provided to family office clients[71]. - Project management revenue decreased by approximately SGD 205,000 or 94.5% from approximately SGD 217,000 to approximately SGD 12,000, primarily due to reduced project management fees[72]. Employee and Operational Costs - Total employee costs reduced by 19.1% from approximately SGD 1.2 million to SGD 997,000, with the number of employees decreasing from 50 to 32[11]. - The company continues to simplify operations to control costs in response to the COVID-19 pandemic[11]. - Other expenses increased by approximately SGD 40,000 or 11.9% from approximately SGD 335,000 to approximately SGD 375,000, mainly due to short-term rental costs for the Singapore office[82]. Dividends and Shareholder Information - The group did not declare any dividends for the three months ended March 31, 2022, consistent with the previous period[11]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2022[132]. - Mr. Yao and Ms. Shen hold 51% and 49% of the issued share capital of ZACD Investments, respectively[122]. - ZACD Investments provided a convertible loan of SGD 300,000 to ZACD (Neew2) Pte. Ltd., convertible into up to 7.00% of the enlarged issued share capital[122]. - ZACD Investments provided a convertible loan of SGD 3,830,000 to ZACD (Jurong) Pte. Ltd., convertible into up to 17.10% of the enlarged issued share capital[123]. - As of March 31, 2022, Mr. Yao and Ms. Shen are deemed to have interests in all shares held by ZACD Investments in ZACD Development Sdn. Bhd.[124]. - Mr. Yao and Ms. Shen are recognized as having a controlling interest in ZACD Investments, which holds 1,298,600,000 shares, representing 64.93% of the total issued share capital[128]. - Rachman Sastra holds 175,350,000 shares, representing 8.77% of the total issued share capital[128]. - Harmonious Tidings Limited holds 125,600,000 shares, representing 6.28% of the total issued share capital[128]. Impairments and Losses - The group recognized a financial advisory fee impairment loss of approximately SGD 177,000 during the review period[11]. - The group recorded an impairment loss of approximately SGD 177,000 related to trade receivables from financial advisory fees[81]. - The company experienced a foreign exchange loss of SGD 26,000 related to overseas operations during the reporting period[17]. - Fair value changes in equity securities investments resulted in a loss of SGD 232,000 for the three months ended March 31, 2022[17]. Future Outlook and Strategic Initiatives - The group aims to enhance operational efficiency and explore new market opportunities moving forward[11]. - The company is focused on expanding its investment structures, which include 29 private equity and fund structures across 28 real estate projects in Singapore, Malaysia, Indonesia, and Australia[57]. - The company aims to streamline existing operations to focus on core revenue sources and will continue to identify growth opportunities in Singapore and surrounding areas[100]. - The local real estate development opportunities in Singapore are expected to rise post-COVID-19 pandemic, leveraging the company's local expertise[100]. - The company observes growth prospects in the family office management sector, particularly in Southeast Asia, as Singapore strengthens its family office ecosystem[100]. - The collective sale of La Ville, a freehold residential development in Tanjong Rhu, is on track for completion by the end of June 2022[103]. - A new development fund is being established to participate in a new executive condominium project in Bukit Batok West, which is expected to attract first-time homebuyers and government housing upgrade seekers[103]. - The performance of Foodfab@Mandai, a freehold industrial project acquired by Mandai Fund, has been strong since its launch in March 2021, with continued optimism for 2022 due to robust demand for food factories and food delivery services[103]. Governance and Management - The audit committee consists of three independent non-executive directors and has reviewed the group's performance for the first quarter ended March 31, 2022[136]. - The board of directors includes five executive directors and three independent non-executive directors as of the report date[137].