Financial Performance - The group's unaudited revenue for the three months ended March 31, 2019, was approximately SGD 1,762,000, a decrease of about SGD 63,000 or 3.5% compared to the same period in 2018[5]. - The group's unaudited profit for the three months ended March 31, 2019, was approximately SGD 298,000, an increase of about SGD 5,000 or 1.7% compared to the same period in 2018[5]. - Basic earnings per share for the three months ended March 31, 2019, remained at 0.05 Singapore cents, unchanged from the same period in 2018[5]. - The group's pre-tax profit for the three months ended March 31, 2019, was SGD 368,000, compared to SGD 388,000 for the same period in 2018[7]. - Total comprehensive income attributable to owners of the company for the three months ended March 31, 2019, was SGD 298,000, compared to SGD 293,000 for the same period in 2018[7]. - The total revenue for the first quarter of 2019 was approximately SGD 1,762,000, a decrease of about SGD 63,000 or 3.5% compared to SGD 1,825,000 in the same period of 2018[48]. - The company reported a pre-tax profit of SGD 298,000 for the first quarter of 2019, compared to SGD 293,000 in the same period of 2018[45]. - Profit for the three months ended March 31, 2019, was approximately SGD 298,000, a decrease of about SGD 5,000 compared to SGD 293,000 for the same period in 2018[75]. Revenue Breakdown - Revenue from consultation services was SGD 488,000, accounting for 27.7% of total revenue, while prescription and dispensing services generated SGD 495,000, representing 28.1%[48]. - Revenue from consultation services increased by approximately SGD 25,000 to about SGD 488,000, with the total number of patients rising from 5,239 to 5,587, representing a growth of 6.6%[57]. - Revenue from prescription and dispensing services decreased by approximately SGD 69,000 to SGD 495,000, primarily due to reduced sales of DS brand skincare products[57]. - Revenue from treatment services decreased by SGD 20,000 to approximately SGD 658,000, mainly due to a decline in procedures involving anesthesia and intense pulse light[57]. Operating Expenses and Tax - The group incurred total operating expenses of SGD 614,000 for the three months ended March 31, 2019, down from SGD 708,000 in the same period in 2018[7]. - The group’s tax expense for the three months ended March 31, 2019, was SGD 70,000, compared to SGD 95,000 for the same period in 2018[7]. - Tax expenses for the three months ended March 31, 2019, were approximately SGD 70,000, down from SGD 95,000 for the same period in 2018, mainly due to a decrease in pre-tax profit[74]. Corporate Governance - The board of directors did not recommend any dividend payment for the three months ended March 31, 2019[5]. - The company did not declare any dividends for the quarter ending March 31, 2019, consistent with the previous year[46]. - The board of directors confirmed compliance with the trading code for directors during the three months ended March 31, 2019[92]. - The company has adopted the corporate governance code as per GEM Listing Rules and has complied with all applicable provisions during the reporting period[86]. - The board is committed to maintaining high standards of corporate governance to enhance transparency and accountability[86]. Market Expansion and Strategy - The company plans to expand its market share in the dermatology and surgical services sector in Singapore, focusing on enhancing its brand and business growth[51]. - A new medical aesthetic clinic was opened in February 2019 at the same property as the existing Orchard Clinic, aimed at developing the medical aesthetic business[51]. - The company is seeking to expand the "Family and Skin" clinics, which will focus on treating less complex skin conditions, thereby increasing patient referrals to existing clinics for more complex treatments[52]. Shareholding and Interests - As of March 31, 2019, Loh Teck Hiong, Ee Hock Leong, and Koh Yong Jian collectively own 358,000,000 shares, representing 59.66% of the company's equity[77]. - Brisk Success Holdings Limited, controlled by the aforementioned individuals, holds the 358,000,000 shares, with each individual having a beneficial ownership of approximately 33.33%[82]. - Victory Spring Ventures Limited holds 35,560,000 shares, accounting for 5.93% of the company's equity, with Ye Zhi Chun as the beneficial owner[81]. - The company has not issued any share options since the adoption of the share option plan on September 22, 2017[87]. - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the three months ended March 31, 2019[90]. Compliance and Audit - The audit committee, established on September 22, 2017, consists of three independent non-executive directors and is responsible for reviewing the company's financial reporting procedures and internal control systems[100]. - As of March 31, 2019, there were no interests held by the company's directors or controlling shareholders in any business that competes or may compete with the group[95]. - The compliance advisor confirmed that, as of March 31, 2019, there were no interests related to the group that needed to be disclosed under GEM Listing Rules[96]. - The independent non-executive directors reviewed the implementation of the non-competition agreement and found compliance by the controlling shareholders for the three months ended March 31, 2019[94].

Financial Performance - The group's revenue for the year ended December 31, 2018, decreased to approximately SGD 6,987,000, a decline of about 0.9% compared to SGD 7,054,000 for the year ended December 31, 2017[10]. - The group recorded a profit of approximately SGD 1,851,000 for the year ended December 31, 2018, an increase of about SGD 2,321,000 compared to a loss of SGD 470,000 for the year ended December 31, 2017[11]. - The group's total revenue for the year ended December 31, 2018, was approximately SGD 6,987,000, a slight decrease of SGD 67,000 or 0.9% compared to SGD 7,054,000 for the year ended December 31, 2017[21]. - Revenue from consultation services increased from SGD 1,794,000 to SGD 1,837,000, representing a growth of 2.4%[22]. - Revenue from prescription and dispensing services rose from SGD 1,956,000 to SGD 2,065,000, an increase of 5.6%[23]. - Revenue from treatment services decreased from SGD 2,821,000 to SGD 2,648,000, a decline of 6.1% primarily due to reduced demand for certain procedures[23]. - The total number of patient consultations increased by 1.2%, from 21,368 to 21,344, indicating stable patient engagement despite revenue fluctuations[21]. Business Expansion and Strategy - The group plans to strategically expand its business by establishing new clinics in Orchard and Raffles Place, as well as a new medical beauty clinic near Orchard Clinic[12]. - The group will continue to review its business strategies to identify opportunities for expansion and customer base growth[12]. - The company plans to expand its market share in the dermatology and surgical services sector in Singapore, capitalizing on the growing interest in medical aesthetic services[17]. - A new medical aesthetic clinic is set to open in February 2019, leveraging the existing Orchard Clinic's location to enhance service offerings[18]. - The Raffles Place Clinic has relocated to a larger property, with operations commencing at the end of February 2019, aimed at improving service capacity[18]. Operational Efficiency and Cost Management - The group aims to manage expenses by enhancing employee skills to reduce labor costs and leveraging technology to decrease labor intensity[12]. - The increase in costs is attributed to higher operational expenses post-listing, including compliance and professional fees[11]. - The group is focused on optimizing operations and enhancing overall business efficiency through the opening of new clinics[12]. - Total operating expenses increased by approximately 348,000 SGD or 22.5% from 1,546,000 SGD for the year ended December 31, 2017, to 1,894,000 SGD for the year ended December 31, 2018[33]. - Employee benefits expenses increased from SGD 1,350,000 to SGD 1,812,000, reflecting higher salaries and bonuses due to company growth[28]. - The total number of employees (excluding doctors) rose from 18 to 20, indicating a slight increase in workforce to support business expansion[29]. Financial Position and Equity - The group had no bank borrowings or interest-bearing liabilities as of December 31, 2018, resulting in a decrease in financial costs by approximately 16,000 SGD[38]. - The total equity of the group as of December 31, 2018, was approximately 14,606,000 SGD, up from approximately 12,755,000 SGD as of December 31, 2017[43]. - Cash and cash equivalents amounted to approximately 14,128,000 SGD as of December 31, 2018, compared to approximately 12,553,000 SGD as of December 31, 2017[43]. - The group incurred a one-time listing expense of approximately 2,933,000 SGD for the year ended December 31, 2017, with no listing expenses incurred for the year ended December 31, 2018[39]. - Employee costs, including directors' remuneration, were approximately 1,812,000 SGD for the year ended December 31, 2018, compared to approximately 1,350,000 SGD for the year ended December 31, 2017[51]. Corporate Governance and Compliance - The company has confirmed compliance with regulatory requirements, with no significant violations reported as of the report date[59]. - The company has adopted the corporate governance code as per GEM listing rules, ensuring compliance with applicable governance standards[164]. - The company has maintained a high level of corporate governance to manage business risks and enhance transparency[163]. - The company has implemented adequate internal control systems and risk management procedures[169]. - The board consists of six members, including three executive directors and three independent non-executive directors[166]. - The company has established a compliance advisory agreement with Chiu Yau Capital Limited effective from November 1, 2017[128]. Shareholding and Ownership Structure - As of December 31, 2018, Dr. Loh Teck Hiong, Dr. Ee Hock Leong, and Dr. Ko Yong Jian each hold 358,000,000 shares, representing 59.66% of the company's equity[104]. - Brisk Success Holdings Limited, which is controlled by the aforementioned doctors, holds the same number of shares, indicating a consolidated ownership structure[108]. - Victory Spring Ventures Limited holds 35,560,000 shares, accounting for 5.93% of the company's equity[108]. - The total number of shares available for issuance under the share option scheme is capped at 10% of the total issued shares at the time of listing, which amounts to a maximum of 60,000,000 shares[116]. - The maximum number of shares that can be issued to any participant under the share option scheme in any 12-month period is limited to 1% of the total issued shares[118]. Risks and Challenges - The company faces significant business risks related to the recruitment and retention of skilled professionals, which could adversely affect financial performance[56]. - The dermatology and skincare services industry is sensitive to negative media reports, which may impact consumer confidence and market perception[57]. Future Plans and Investments - The planned use of the net proceeds includes strategic expansion and enhancement of the clinic network in Singapore, with an allocation of HKD 14.1 million[64]. - Establishing new medical beauty clinics has an allocated budget of HKD 13.6 million, with HKD 10.4 million already utilized[64]. - The purchase of additional new equipment and expansion of treatment and product offerings is budgeted at HKD 9.6 million[64]. - A centralized logistics center is planned with an allocation of HKD 2.3 million, although the project has been delayed due to space acquisition issues[64][68]. - Improvement of IT infrastructure and systems has a budget of HKD 2.4 million, with ongoing efforts to find suitable systems[64][69].