Financial Performance - For the three months ended June 30, 2019, the revenue was SGD 5,576,000, a decrease of 11.1% compared to SGD 6,271,000 for the same period in 2018[5] - The gross profit for the six months ended June 30, 2019, was SGD 2,895,000, down 11.3% from SGD 3,264,000 in the previous year[5] - The net loss attributable to owners for the six months ended June 30, 2019, was SGD 457,000, compared to a profit of SGD 138,000 in the same period of 2018[5] - Revenue for the six months ended June 30, 2019, was SGD 11,278,000, down 10.7% from SGD 12,630,000 in the same period of 2018[33] - For the three months ended June 30, 2019, the company reported a loss attributable to owners of the company of SGD 504,000, compared to a profit of SGD 89,000 for the same period in 2018[41] - Overall gross profit decreased by approximately SGD 0.4 million or about 11.3%, from approximately SGD 3.3 million to approximately SGD 2.9 million, with gross profit margins remaining stable at 25.8% and 25.7% respectively[65] Assets and Liabilities - Total assets as of June 30, 2019, were SGD 29,071,000, an increase from SGD 28,232,000 as of December 31, 2018[8] - Current liabilities decreased to SGD 3,989,000 from SGD 4,525,000 as of December 31, 2018, indicating improved liquidity[8] - Non-current assets increased to SGD 18,273,000 as of June 30, 2019, from SGD 16,446,000 as of December 31, 2018[7] - The total equity attributable to owners decreased to SGD 17,150,000 as of June 30, 2019, from SGD 17,607,000 as of December 31, 2018[8] - The total bank borrowings as of June 30, 2019, were SGD 10,745,000, a decrease from SGD 11,072,000 as of December 31, 2018[49] - The company's debt-to-equity ratio as of June 30, 2019, was approximately 73.2%, up from 63.4% on December 31, 2018[74] Cash Flow and Expenses - Operating cash flow for the six months ended June 30, 2019, was SGD 456,000, a decrease of 48.7% compared to SGD 891,000 in 2018[12] - The company reported a loss before tax of SGD 416,000 for the six months ended June 30, 2019, compared to a profit of SGD 236,000 in 2018[12] - The company experienced a significant increase in administrative and other operating expenses, which rose to SGD 2,244,000 for the six months ended June 30, 2019, compared to SGD 1,779,000 in the previous year[5] - The company incurred interest expenses of SGD 208,000 for the six months ended June 30, 2019, compared to SGD 125,000 for the same period in 2018, reflecting a significant increase of 66.4%[36] - Selling and distribution costs decreased by approximately SGD 0.7 million or about 40.0%, from approximately SGD 1.6 million to approximately SGD 0.9 million, mainly due to reduced employee benefits and warehouse rental costs[66] - Administrative and other operating expenses increased by approximately SGD 0.4 million or about 26.1%, from approximately SGD 1.8 million to approximately SGD 2.2 million, primarily due to increased depreciation and other administrative costs[68] Investments and Capital Expenditures - Net cash used in investing activities was SGD 546,000, significantly lower than SGD 10,242,000 in the previous year, indicating a reduction in capital expenditures[13] - The company acquired property, plant, and equipment at a total cost of approximately SGD 0.6 million for the six months ended June 30, 2019, significantly lower than SGD 10.4 million in 2018[45] - Capital expenditures related to the acquisition of properties, plants, and equipment for the six months ended June 30, 2019, were approximately SGD 0.6 million[75] Inventory and Receivables - The company’s inventory write-off decreased to SGD 66,000 from SGD 165,000, indicating improved inventory management[12] - The company's trade receivables as of June 30, 2019, amounted to SGD 5,148,000, an increase of 2.8% from SGD 5,007,000 as of December 31, 2018[46] Corporate Governance and Compliance - The company has complied with the corporate governance code during the reporting period[99] - The audit committee reviewed the interim report and unaudited condensed consolidated financial statements for the six months ending June 30, 2019[103] Employee and Operational Metrics - The company employed 71 employees as of June 30, 2019, a decrease from 74 employees on December 31, 2018[82] - The total employee cost for the six months ended June 30, 2019, was approximately SGD 1.4 million, down from SGD 1.7 million for the same period in 2018[82] Market and Strategic Outlook - The company aims to promote its brand, provide quality products, and seize business opportunities despite facing a challenging year due to intense industry competition[61] - The company believes that the expansion of its warehouse and production facilities, following the acquisition of a new property in March 2018, will help capture business opportunities and reduce third-party warehouse rental costs[61]

Financial Performance - Revenue for the three months ended March 31, 2019, was SGD 5,702,000, a decrease of 10.3% from SGD 6,359,000 in the same period of 2018[5] - Gross profit for the same period was SGD 1,429,000, down 14.1% from SGD 1,663,000 year-over-year[5] - The company reported a profit before tax of SGD 83,000, slightly down from SGD 86,000 in the prior year[5] - Net profit attributable to owners of the company was SGD 47,000, compared to SGD 49,000 in the same quarter of 2018[5] - Basic and diluted earnings per share remained stable at SGD 0.01 for both 2019 and 2018[5] - The company's profit for the three months ended March 31, 2019, was approximately SGD 51,000, compared to SGD 44,000 for the same period in 2018, representing an increase of about 15.9%[22] - Revenue decreased by approximately SGD 0.7 million or about 10.3%, from approximately SGD 6.4 million for the three months ended March 31, 2018, to approximately SGD 5.7 million for the same period in 2019[25] - Overall gross profit decreased by approximately SGD 0.2 million or about 14.1%, from approximately SGD 1.7 million in 2018 to approximately SGD 1.4 million in 2019[27] - The overall gross margin for the three months ended March 31, 2019, was 25.1%, compared to 26.2% for the same period in 2018[27] Costs and Expenses - Financing costs increased to SGD 94,000 from SGD 51,000, reflecting higher borrowing costs[5][15] - The cost of sales decreased by approximately SGD 0.4 million or about 9.0%, from approximately SGD 4.7 million in 2018 to approximately SGD 4.3 million in 2019[26] - Selling and distribution costs decreased by approximately SGD 0.2 million or about 30.7%, from approximately SGD 0.8 million in 2018 to approximately SGD 0.5 million in 2019[28] - Administrative and other operating expenses increased by approximately SGD 0.2 million or about 16.5%, from approximately SGD 0.9 million in 2018 to approximately SGD 1.1 million in 2019[30] Equity and Dividends - The company’s total equity attributable to owners as of March 31, 2019, was SGD 17,654,000, a decrease from SGD 17,973,000 at the beginning of the year[7] - The company did not declare any dividends for the three months ended March 31, 2019, consistent with the previous year[18] Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[43] - All directors confirmed compliance with the trading standards for securities transactions during the three months ending March 31, 2019[44] - The audit committee was established in accordance with the GEM Listing Rules and consists of three independent non-executive directors and one non-executive director[46] - The audit committee's main responsibilities include recommending the appointment and removal of external auditors, reviewing financial statements, and monitoring the company's risk management and internal control systems[46] - The company has maintained a high level of corporate governance to protect shareholder interests and enhance corporate value[43] Shareholding and Ownership - Packman Global Holdings Limited holds 302,000,000 shares, representing a 50.33% equity stake in the company[34] - The major shareholders, including Mr. Chen Shao Yi and Mr. Ni Chao Xiang, each hold 302,000,000 shares, equating to 50.33% ownership[36] - The beneficial ownership of shares is shared among Mr. Chen, Mr. Ni, and Mr. Chen Zhi, each holding approximately 33.3% of Packman Global[34] Future Outlook - Future outlook remains cautious due to market volatility and potential risks associated with the GEM listing[2] - The company continues to focus on its core business in food supply and investment holding, with no new product launches or major acquisitions reported during the quarter[10][11] - The company did not engage in any significant investments, acquisitions, or disposals of subsidiaries during the three months ended March 31, 2019[20] - As of March 31, 2019, the company had a contingent liability of SGD 550,000 related to performance bonds issued for certain suppliers[19] Share Options and Securities - The company has not purchased, sold, or redeemed any of its listed securities during the three months ending March 31, 2019[38] - No share options have been granted under the share option scheme since its adoption on August 30, 2017[39] - The company aims to attract and retain qualified personnel through its share option plan[39] - There are no reported conflicts of interest or competitive businesses involving directors or major shareholders during the reporting period[41]

Financial Performance - For the fiscal year ended December 31, 2018, the group recorded total revenue of approximately SGD 25.4 million, consistent with the previous fiscal year[9]. - The group reported a net loss of approximately SGD 0.4 million for the fiscal year ended December 31, 2018, an improvement from a net loss of approximately SGD 1.1 million for the fiscal year ended December 31, 2017[9]. - The group's revenue decreased from approximately SGD 27.6 million for the year ended December 31, 2017, to approximately SGD 25.4 million for the year ended December 31, 2018, a decline of about SGD 2.2 million or approximately 7.9%[16]. - The group's overall gross profit decreased from approximately SGD 7.4 million to approximately SGD 5.7 million, a reduction of about SGD 1.7 million or approximately 23.0%[18]. - The company reported a loss before tax of SGD 152,000, an improvement from a loss of SGD 675,000 in 2017[186]. - Total comprehensive loss for the year was SGD 402,000, compared to a loss of SGD 1,076,000 in 2017, indicating a reduction in losses[186]. - Basic loss per share for the year was SGD 0.06, an improvement from SGD 0.21 in the previous year[186]. - The group recorded a total comprehensive loss of approximately SGD 0.4 million for the year ended December 31, 2018, a decrease of about SGD 0.7 million or approximately 62.6% from the previous year[25]. Expenses and Costs - The decrease in gross profit of approximately SGD 1.7 million was primarily due to reduced sales influenced by intense market competition[9]. - Administrative and other operating expenses (excluding listing expenses) increased by approximately SGD 0.6 million compared to the fiscal year ended December 31, 2017[9]. - The group's administrative and other operating expenses decreased from approximately SGD 5.8 million to approximately SGD 3.9 million, a reduction of about SGD 1.9 million or approximately 32.6%[20]. - Financing costs increased from approximately SGD 194,000 to approximately SGD 276,000, an increase of about SGD 82,000 or approximately 42.3%[21]. - Administrative and other operating expenses decreased to SGD 3,877,000 from SGD 5,752,000, reflecting a cost reduction strategy[186]. Assets and Liabilities - The group's total borrowings increased to approximately SGD 11.1 million as of December 31, 2018, compared to SGD 3.6 million as of December 31, 2017, resulting in a capital debt ratio of approximately 63.4%[28]. - Total assets decreased from 21,480,000 SGD in 2017 to 28,232,000 SGD in 2018, reflecting a significant increase of 31.5%[188]. - Non-current liabilities rose sharply from 3,477,000 SGD in 2017 to 10,663,000 SGD in 2018, marking an increase of 206.5%[190]. - The company’s total liabilities increased from 3,477,000 SGD in 2017 to 10,663,000 SGD in 2018, reflecting a rise of 206.5%[190]. - Total equity decreased from 18,003,000 SGD in 2017 to 17,569,000 SGD in 2018, a decline of 2.4%[190]. Management and Governance - The management emphasizes maintaining good corporate governance and effective cost control to maximize returns for shareholders[10]. - The company maintains a high level of corporate governance, with details provided in the corporate governance report[90]. - The board of directors held 7 meetings in 2018, with all executive directors attending all meetings[117]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial statements for the year ending December 31, 2018, ensuring compliance with applicable accounting standards and GEM listing rules[120]. - The company has adopted the corporate governance code and has complied with all applicable provisions as of December 31, 2018[107]. Risk Management - The company is exposed to financial risks related to foreign currency, interest rates, credit, and liquidity in its daily operations[97]. - The company faces business risks related to the retention of major customers, which could adversely affect its operational performance if orders significantly decrease[95]. - The board is responsible for overseeing the risk management and internal control systems, while management is tasked with implementing and maintaining these systems[135]. - The company has established a three-tier risk management approach to identify, assess, and manage various types of risks[137]. Strategic Initiatives - The group aims to expand its customer base and cultivate new customers to achieve long-term growth[10]. - The group plans to continue promoting its brand and providing quality products while seizing business opportunities through warehouse and production facility expansions via acquisitions[14]. - The company is focused on maintaining and improving profit margins while seeking to launch new products and services[151]. - The company has been focusing on enhancing its market presence through effective marketing strategies and operational management[161]. Shareholder Relations - The company maintains a communication platform for shareholders through its website and annual general meetings[146]. - Shareholders have the right to propose independent resolutions for consideration and voting at general meetings, ensuring their interests are protected[142]. - The company has a structured process for shareholders to propose director nominations at the annual general meeting[148]. Compliance and Reporting - The company has maintained compliance with the disclosure requirements under the Hong Kong Companies Ordinance[169]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2018, in accordance with Hong Kong Financial Reporting Standards[169]. - The company has confirmed that there were no related party transactions that required disclosure under GEM Listing Rules during the year ended December 31, 2018[89].