Financial Performance - For the six months ended June 30, 2024, the revenue was SGD 14,678,000, a decrease of 4.4% compared to SGD 15,347,000 for the same period in 2023[3] - The gross profit for the six months ended June 30, 2024, was SGD 3,865,000, down 16% from SGD 4,595,000 in the previous year[3] - The net loss attributable to owners for the six months ended June 30, 2024, was SGD 374,000, compared to a profit of SGD 1,052,000 in the same period of 2023[4] - The company reported a foreign exchange loss of SGD 74,000 for the period, compared to a gain of SGD 18,000 in the previous year[4] - The company incurred a loss before tax of SGD 272 thousand for the six months ended June 30, 2024, compared to a profit of SGD 1,329 thousand in the same period of 2023[8] - Basic loss per share for the six months ended June 30, 2024, was (374) thousand Singapore dollars, compared to a profit of 1,052 thousand Singapore dollars in the same period of 2023[20] - The company reported a loss of approximately SGD 374,000 for the six months ended June 30, 2024, compared to a profit of approximately SGD 1.05 million for the same period in 2023, primarily due to a revenue decrease of about SGD 600,000[41] - Revenue decreased by approximately SGD 600,000 or about 3.9% to approximately SGD 14.7 million for the six months ended June 30, 2024, down from approximately SGD 15.3 million for the same period in 2023, mainly due to a reduction in sales volume of frozen products[43] - Overall gross profit decreased by approximately SGD 700,000 or about 7.0% to approximately SGD 3.9 million for the six months ended June 30, 2024, with the gross profit margin declining from 29.9% to 26.3%[45] Assets and Liabilities - The total current assets increased to SGD 23,896,000 as of June 30, 2024, from SGD 14,025,000 as of December 31, 2023[5] - The total current liabilities decreased to SGD 6,502,000 as of June 30, 2024, from SGD 11,009,000 as of December 31, 2023[5] - As of June 30, 2024, the company's total assets minus current liabilities amounted to SGD 35,208 thousand, a significant increase from SGD 20,961 thousand as of December 31, 2023, representing a growth of approximately 68.3%[6] - The company's net assets reached SGD 28,183 thousand, up from SGD 13,759 thousand in the previous year, indicating a year-over-year increase of about 104.5%[6] - The total equity increased to SGD 28,183 thousand from SGD 13,759 thousand, reflecting a growth of approximately 104.5%[6] - The company’s bank borrowings decreased to SGD 4,810 thousand from SGD 5,027 thousand, showing a reduction of approximately 4.3%[6] - The total bank borrowings decreased to SGD 5,233,000 as of June 30, 2024, from SGD 5,447,000 as of December 31, 2023, a reduction of approximately 3.9%[29] - The total borrowings of the company as of June 30, 2024, amounted to approximately SGD 7.5 million, down from SGD 10.9 million as of December 31, 2023, resulting in a debt-to-equity ratio of approximately 26.6%[54] Cash Flow and Financing - The cash flow from operating activities showed a net outflow of SGD 3,285 thousand for the six months ended June 30, 2024, compared to an inflow of SGD 738 thousand in the same period of 2023[8] - The financing activities generated a net cash inflow of SGD 11,108 thousand, a significant improvement from a net outflow of SGD 1,628 thousand in the previous year[9] - The company reported a cash and cash equivalents balance of SGD 9,044 thousand at the end of the period, up from SGD 2,820 thousand at the end of the previous year, marking an increase of approximately 220.5%[9] - The company raised approximately SGD 17.4 million through a rights issue completed on April 10, 2024, with a subscription price of SGD 0.335 per share[31] - The company utilized approximately HKD 18,000 for the repayment of promissory notes and HKD 18,000 for mergers and acquisitions from the proceeds of the rights issue[63] Expenses - The company’s administrative and other operating expenses rose to SGD 2,584,000 for the six months ended June 30, 2024, compared to SGD 2,126,000 in the previous year[3] - Selling and distribution costs increased by approximately SGD 200,000 or about 15.4% to approximately SGD 1.5 million for the six months ended June 30, 2024, primarily due to increased advertising and promotional expenses[46] - Administrative and other operating expenses rose by approximately SGD 500,000 or about 23.8% to approximately SGD 2.6 million for the six months ended June 30, 2024, attributed to increases in salaries and other operating costs[47] - The total employee costs for the six months ended June 30, 2024, were approximately SGD 2.0 million, an increase from SGD 1.5 million for the same period in 2023[62] Share Capital and Equity - The issued share capital increased to SGD 13,878,000 as of June 30, 2024, from SGD 10,407,000 as of December 31, 2023, reflecting an increase of about 33.8%[31] - The company has a stock option plan that allows for the issuance of options equivalent to up to 10% of the total issued shares at any time[32] - The company has not granted, exercised, or cancelled any share options under its share option scheme during the six months ending June 30, 2024[69] - The share award scheme adopted on September 14, 2021, aims to reward and retain eligible participants, with no shares granted under this scheme as of June 30, 2024[70] - The maximum number of shares that can be awarded under the share award scheme is capped at 10% of the total issued shares at the beginning of the year[71] - The potential number of shares to be issued under the share option and award scheme for the six months ending June 30, 2024, is 6,092,192 shares, which is 8.2% of the weighted average number of shares issued during the period[72] Compliance and Governance - The company has complied with the corporate governance code as of June 30, 2024[73] - All directors confirmed compliance with the trading standards for securities transactions during the six months ending June 30, 2024[74] - The audit committee has reviewed the interim report and financial statements for the six months ending June 30, 2024, ensuring compliance with applicable accounting standards and regulations[75] Future Outlook - The company plans to continue its focus on expanding its food and healthcare supply business, leveraging its increased equity and cash position for potential investments and growth opportunities[10] - The company continues to explore diverse opportunities to broaden revenue sources and enhance market share despite ongoing geopolitical risks and economic uncertainties[42] - The company aims to maintain a positive outlook and take necessary actions to minimize the impact on its core business while pursuing sustainable growth and profitability[42]
COOL LINK(08491) - 2024 - 中期业绩