Financial Performance - The group reported a net loss of SGD 1.42 million for the six months ended June 30, 2024, compared to a net profit of SGD 1.44 million for the same period in 2023, representing a decrease of approximately 198.7%[5]. - Revenue decreased by approximately SGD 3.55 million, from SGD 5.31 million in the previous period to approximately SGD 1.76 million during the review period, primarily due to the lack of project management fees from a special purpose entity of developers[5]. - Basic and diluted loss per share for the six months ended June 30, 2024, was approximately 0.07 Singapore cents, compared to earnings of 0.07 Singapore cents for the same period in 2023[5]. - Total comprehensive loss attributable to owners for the period was SGD 1,780,000, down from a total comprehensive income of SGD 1,445,000 in the previous year[8]. - The company reported a pre-tax loss of (SGD 1,249,000) for the six months ended June 30, 2024, compared to a profit of SGD 1,777,000 in the same period last year[14]. - The company reported a pre-tax loss of SGD 1,419,000 for the six months ended June 30, 2024, compared to a profit of SGD 1,438,000 in the same period of 2023[38]. Assets and Liabilities - Total assets as of June 30, 2024, were SGD 29.57 million, a decrease from SGD 31.60 million as of December 31, 2023[4]. - Total liabilities amounted to SGD 8.87 million as of June 30, 2024, compared to SGD 9.11 million as of December 31, 2023[4]. - The net asset value per share was SGD 1.03 as of June 30, 2024, down from SGD 1.12 as of December 31, 2023[4]. - Non-current assets decreased to SGD 2,698,000 as of June 30, 2024, from SGD 3,210,000 as of December 31, 2023[9]. - Current assets decreased to SGD 26,875,000 as of June 30, 2024, compared to SGD 28,386,000 as of December 31, 2023[9]. - The equity total as of June 30, 2024, was SGD 20,707,000, down from SGD 22,487,000 as of December 31, 2023[9]. Cash Flow and Investments - The company reported a net cash flow from operating activities of (SGD 879,000) for the six months ended June 30, 2024, compared to (SGD 825,000) for the same period in 2023, indicating a decline in operational cash flow[14]. - The net cash flow used in investing activities was (SGD 4,393,000) for the six months ended June 30, 2024, compared to SGD 1,505,000 in the previous year, reflecting increased investment outflows[15]. - The company experienced a significant decrease in cash and cash equivalents, with a net decrease of (SGD 5,818,000) for the period, resulting in ending cash and cash equivalents of SGD 8,775,000[15]. - The company has maintained a consistent interest income from loans, with total interest receivables amounting to SGD 501,000 as of June 30, 2024, compared to SGD 153,000 previously[54]. Employee and Operational Costs - Employee costs decreased from SGD 2.83 million in the previous period to SGD 1.98 million, a reduction of SGD 0.85 million or 30.0%, attributed to a decrease in the number of employees from 34 to 22[5]. - The company’s depreciation expense remained stable at SGD 52,000 for both periods, indicating consistent asset utilization[14]. - The company’s capitalized contract costs amortization decreased slightly to SGD 67,000 from SGD 79,000 year-over-year, reflecting changes in project management[14]. - Other expenses remained stable at SGD 67,000 during the review period, showing consistent operational costs[118]. Revenue Breakdown - For the six months ended June 30, 2024, total revenue reached SGD 1,755,000, with contributions from various segments including SGD 1,532,000 from investment management and SGD 1,755,000 from fund management[26]. - Revenue for the six months ended June 30, 2024, was SGD 1,755,000, compared to SGD 5,305,000 for the same period in 2023, representing a decrease of approximately 66.9%[33]. - Investment management fees decreased to SGD 1,640,000 in 2024 from SGD 2,215,000 in 2023, a decline of about 26%[35]. - Fund management income decreased by SGD 0.66 million or 30.1% to SGD 1.53 million, mainly due to a reduction in dividend income from a real estate fund[111]. Fair Value and Impairment - The company recorded a fair value change of equity securities investment amounting to a loss of SGD 348,000 during the period[10]. - The company incurred a fair value loss of SGD 285,000 on financial derivatives and reported corporate and unallocated expenses of SGD 1,761,000[26]. - The fair value change of equity securities investments resulted in a loss of SGD 189,000 for the six months ended June 30, 2024, compared to a gain of SGD 40,000 for the same period in 2023[41]. - The impairment provision for trade receivables decreased to SGD 219,000 as of June 30, 2024, from SGD 226,000 as of December 31, 2023[46]. Dividends and Share Capital - The group did not declare or recommend any dividends for the six months ended June 30, 2024, consistent with the previous period[5]. - The company has issued 2,000,000,000 ordinary shares, with total issued and paid-up capital remaining at SGD 29,866,000 as of both June 30, 2024, and December 31, 2023[69]. Strategic Initiatives and Market Conditions - The group is focusing on expanding its fund structures based on its current business model since it has not established new special purpose entities since 2016[110]. - Discussions are underway for launching a new healthcare fund in Australia, anticipating significant growth opportunities due to demographic trends, particularly aging population[133]. - The new leadership team, including the appointment of Mr. Chen Peiqiang as COO and Mr. Jin Zhengzhen as CFO, is expected to usher in a transformative era for the company[133].
杰地集团(08313) - 2024 - 中期业绩