Financial Performance - For the nine months ended September 30, 2019, the company reported total revenue of SGD 27,487,000, an increase of 6.5% compared to SGD 25,803,000 for the same period in 2018[3]. - Gross profit for the nine months was SGD 4,771,000, representing a 7.5% increase from SGD 4,438,000 in the previous year[3]. - The company incurred a loss before tax of SGD 411,000 for the nine months, an improvement from a loss of SGD 1,273,000 in the same period last year[3]. - The total comprehensive loss for the nine months was SGD 460,000, compared to a loss of SGD 1,359,000 in the previous year, indicating a significant reduction in losses[5]. - The basic and diluted loss per share for the nine months was SGD 0.08, an improvement from SGD 0.22 in the same period of 2018[5]. - The group reported a pre-tax loss of SGD 472,000 for the nine months ended September 30, 2019, compared to a loss of SGD 1,344,000 for the same period in 2018, representing a 64.9% improvement[31]. - The loss for the nine months ended September 30, 2019, was approximately SGD 0.5 million, a decrease of about SGD 0.8 million or 61.5% compared to a loss of SGD 1.3 million for the same period in 2018[47]. Revenue Breakdown - Revenue from human resource outsourcing services for the nine months ended September 30, 2019, was SGD 26,423,000, an increase of 6.3% from SGD 24,865,000 in the same period of 2018[25]. - Revenue from human resource recruitment services for the nine months ended September 30, 2019, was SGD 1,037,000, up from SGD 896,000 in the same period of 2018[25]. - The group's revenue increased by approximately SGD 1.7 million or 6.6% to about SGD 27.5 million for the nine months ended September 30, 2019, compared to SGD 25.8 million for the same period in 2018[41]. - Revenue from human resource outsourcing services rose by approximately SGD 1.5 million to about SGD 26.4 million, while revenue from recruitment services increased by approximately SGD 0.1 million to about SGD 1.0 million[41]. Expenses and Costs - The company reported administrative expenses of SGD 5,290,000 for the nine months, down from SGD 5,772,000 in the previous year, reflecting cost control measures[3]. - Total employee costs for the nine months ended September 30, 2019, amounted to SGD 26,093,000, an increase of 4.6% from SGD 24,930,000 in the same period of 2018[31]. - Service costs increased by approximately SGD 1.3 million or 6.1% to about SGD 22.7 million, primarily due to a rise in labor costs and related expenses[42]. - The group’s operating lease rental expenses for the three months ended September 30, 2019, were SGD 265,000, compared to SGD 802,000 in the same period of 2018, indicating a significant reduction of 66.9%[31]. Other Income and Gains - Other income for the nine months increased to SGD 108,000 from SGD 61,000 in the previous year, indicating growth in ancillary revenue streams[3]. - Other income rose by approximately SGD 47,000 or 77.0% to about SGD 108,000, mainly due to increased interest and service income[43]. - The company experienced a foreign exchange gain of SGD 12,000 for the nine months, compared to a loss of SGD 15,000 in the previous year, showing improved currency management[5]. Equity and Financial Position - As of September 30, 2019, total equity decreased to SGD 16,708,000 from SGD 19,691,000 at the beginning of the year, primarily due to accumulated losses[7]. - As of September 30, 2019, the group's cash and bank balances were approximately SGD 13.5 million, compared to SGD 13.9 million as of December 31, 2018[50]. - The group maintained a current ratio of approximately 4.7 times as of September 30, 2019, down from 5.5 times as of December 31, 2018[50]. Corporate Governance and Compliance - The company confirmed compliance with GEM Listing Rules regarding related party transactions as of September 30, 2019[65]. - The board believes that the current arrangement of having the same individual serve as both Chairman and CEO does not impair the balance of power and authority[75]. - The company has adopted the corporate governance code as per GEM Listing Rules and has complied with it, except for the separation of roles between Chairman and CEO[75]. - The company has adopted a code of conduct regarding securities trading by directors, ensuring compliance with GEM Listing Rules[76]. - The audit committee, established on June 21, 2017, consists of four independent non-executive directors and has reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2019[84]. Shareholder Information - As of September 30, 2019, Mr. Zhou and Ms. Xiong each held 306,000,000 shares, representing 51.00% of the company's issued share capital[67]. - Omnipartners, owned by Mr. Zhou and Ms. Xiong, also holds 306,000,000 shares, equating to 51.00% of the issued share capital[69]. - The company did not declare any dividends for the nine months ended September 30, 2019, consistent with the previous year[30]. - The board did not declare any dividends for the nine months ended September 30, 2019, consistent with the previous year[48]. Accounting Standards and Changes - The company adopted IFRS 16 on January 1, 2019, resulting in the recognition of lease liabilities amounting to SGD 1,828,000[14]. - The total right-of-use assets recognized as of June 30, 2019, was SGD 1,286,000, down from SGD 1,814,000 on January 1, 2019[18]. - The group reported a depreciation expense of SGD 789,000 for right-of-use assets for the nine months ended September 30, 2019, with no comparable figure for the previous year due to the adoption of new accounting standards[31]. - The company has complied with applicable accounting standards and GEM Listing Rules in preparing its financial reports[84]. Miscellaneous - The company entered into a shared services agreement with BGC Malaysia, which is a related party, to provide financial, human resources, and administrative services from June 21, 2017, to December 31, 2019[63]. - The company did not engage in any significant acquisitions or disposals during the nine months ending September 30, 2019[61]. - No significant events occurred after the reporting period[62]. - There were no major investments or capital asset plans disclosed other than those in the prospectus and report as of September 30, 2019[60]. - The company has a stock option plan that allows for the issuance of up to 60,000,000 shares, representing 10% of the issued shares, valid for ten years from June 21, 2017[81]. - No stock options have been granted since the adoption of the plan, and there were no unexercised stock options as of September 30, 2019[82]. - The company’s main banking partner is DBS Bank Ltd[88]. - The company’s website is www.omnibridge.com.hk, and its stock code is 8462[88].
中安控股集团(08462) - 2019 Q3 - 季度财报