Financial Performance - For the fiscal year ending June 30, 2020, the company's revenue decreased by 22.1% to approximately SGD 37.9 million, down from SGD 48.6 million in the previous year[17]. - The company's gross profit also fell by 28.2% to approximately SGD 6.9 million, compared to SGD 9.6 million for the fiscal year ending June 30, 2019[17]. - The gross profit margin decreased to 18.1% from 19.8% in the previous year, reflecting the impact of COVID-19 on operations[19]. - The net profit remained stable at approximately SGD 3.7 million for both fiscal years ending June 30, 2020, and June 30, 2019[19]. - Total revenue decreased by approximately 10.7 million Singapore dollars or about 22.1% to approximately 37.9 million Singapore dollars for the year ended June 30, 2020, compared to approximately 48.6 million Singapore dollars for the year ended June 30, 2019[22]. - Service costs decreased by approximately 8.0 million Singapore dollars or about 20.6% to approximately 31.0 million Singapore dollars for the year ended June 30, 2020, consistent with the revenue decline[23]. - Gross profit for the year ended June 30, 2020, was approximately 6.9 million Singapore dollars, a decrease of about 28.2% from approximately 9.6 million Singapore dollars for the year ended June 30, 2019, with a gross margin of 18.1% compared to 19.8% in the previous year[26]. - Other income increased to approximately 0.9 million Singapore dollars for the year ended June 30, 2020, from approximately 0.2 million Singapore dollars in 2019, primarily due to increased bank interest income and government subsidies related to COVID-19[27]. - Administrative expenses increased by approximately 17.2% to about 2.8 million Singapore dollars for the year ended June 30, 2020, compared to approximately 2.4 million Singapore dollars for the year ended June 30, 2019[30]. - The company reported a net profit attributable to owners of approximately 3.7 million Singapore dollars for the year ended June 30, 2020, consistent with the previous year, but adjusted profit decreased by about 34.1% to approximately 4.1 million Singapore dollars[34]. Project and Contract Information - As of June 30, 2020, the company had 35 projects with an estimated total contract value of approximately SGD 153.1 million, of which SGD 53.0 million had been recognized as revenue in prior years[18]. - The construction industry in Singapore contracted by 54.7% year-on-year in the second quarter of 2020 due to COVID-19 measures, but a gradual reopening is expected to alleviate this decline in the second half of the year[18]. Government Support and Economic Outlook - The Singapore government has introduced several stimulus measures to mitigate the economic impact of the pandemic, which is expected to benefit the company in the long term[18]. - The company continues to adapt to the new normal and is confident in overcoming challenges with the support of its management team and employees[14]. Corporate Governance - The company has adopted all provisions of the Corporate Governance Code as its own governance practices since its listing on July 5, 2019, until June 30, 2020[75]. - The board of directors consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[78]. - The company held a total of 4 board meetings and 2 committee meetings during the fiscal year, demonstrating active governance engagement[83]. - All directors confirmed compliance with the trading code for securities transactions from the listing date until June 30, 2020[76]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of its affairs[87]. - Independent non-executive directors are required to have appropriate professional qualifications or relevant financial management expertise, ensuring effective oversight[84]. - The company plans to hold at least four regular board meetings each fiscal year, approximately once per quarter, in line with governance code requirements[83]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their compliance with listing rules[84]. - The term for independent non-executive directors is set for three years, subject to re-election at the annual general meeting[86]. - The board regularly reviews the effectiveness of the group's risk management and internal control systems[77]. Risk Management - The Audit Committee consists of three independent non-executive directors, with Ms. Chan Pei Fen as the chairperson, responsible for reviewing risk management and internal control systems, financial policies, and financial statements[89]. - The company has established a risk management policy to identify, assess, and manage key business risks, with quarterly evaluations conducted[105]. - The board confirmed the effectiveness and adequacy of the group's risk management and internal control systems as of June 30, 2020[106]. - The company has appointed external consultants to perform internal audit functions and review the effectiveness of its risk management and internal control systems[106]. Employee and Compensation Information - As of June 30, 2020, the total employee cost was approximately SGD 5.3 million, down from SGD 6.0 million in 2019, with a total of 159 employees compared to 191 in 2019[44]. - The employee compensation policy is regularly reviewed to ensure competitiveness and retention of high-quality staff[44]. Environmental, Social, and Governance (ESG) Initiatives - The company has a quality management system certified to ISO 9001:2008 standards, ensuring the safety and functionality of electrical systems[183]. - The company has established an occupational health and safety management system compliant with ISO 45001:2018 standards to promote employee safety and prevent accidents[183]. - The board regularly evaluates ESG matters and monitors the implementation of sustainability strategies[187]. - The company maintains close communication with stakeholders to accurately assess the potential impacts of its business activities related to ESG[187]. - The company has not reported any significant violations of environmental laws and regulations during the reporting period[193]. - The company adheres to ISO 14001:2004 standards to enhance environmental awareness and prevent pollution from projects[184]. - The company reported a reduction in nitrogen oxides emissions from 88,195.07 grams in 2019 to 64,209.83 grams in 2020, a decrease of approximately 27.2%[195]. - Sulfur oxides emissions decreased from 310.45 grams in 2019 to 214.02 grams in 2020, representing a reduction of about 30.9%[195]. - The company achieved a reduction in direct greenhouse gas emissions from mobile combustion sources, with carbon dioxide emissions decreasing from 50,048.8 kg in 2019 to 34,501.11 kg in 2020, a decline of approximately 30.9%[196]. - Indirect greenhouse gas emissions from purchased electricity decreased from 17,493.88 kg in 2019 to 14,494.79 kg in 2020, a reduction of about 17.1%[196]. - The company has implemented measures to enhance employee environmental awareness, focusing on energy conservation and resource utilization[198]. - The company has established a recycling program for paper waste, encouraging employees to recycle old paper for daily printing and internal communication[198]. Shareholder and Financial Communication - The company aims to ensure transparent and timely communication with shareholders through various channels, including financial reports and shareholder meetings[112]. - The company will promptly report any significant changes to shareholders and potential investors[57]. Capital and Investment Information - The company had no bank borrowings as of June 30, 2020, maintaining a debt-to-equity ratio of zero[41]. - There were no significant investments or acquisitions during the reporting period, and no plans for major investments or capital assets were disclosed[42]. - The company has no significant capital commitments as of June 30, 2020[49]. - The company confirmed compliance with a non-competition agreement established on June 10, 2019, by its major shareholders[151]. - The company did not enter into any management or administrative contracts for its overall business during the fiscal year ending June 30, 2020[130]. - The company did not engage in any related party transactions that required disclosure under the Listing Rules during the fiscal year ending June 30, 2020[147]. Dividend Information - No interim dividend was declared for the year ended June 30, 2020, and no final dividend was recommended for the same period[175][176]. - The company has a dividend policy that allows for shareholder participation in profits while retaining sufficient reserves for future growth[172]. Share Placement and Securities - The company successfully placed 200,000,000 shares, representing 20% of the existing issued share capital, at HKD 0.265 per share on March 20, 2020[1]. - The company did not purchase, sell, or redeem any of its listed securities[142]. - There were no arrangements made for the acquisition of shares or debt securities by the company or its subsidiaries during the fiscal year ending June 30, 2020[143]. Supplier and Customer Relationships - The largest supplier accounted for approximately 15.0% of total procurement, while the top five suppliers represented about 45.9% of total procurement for the year ended June 30, 2020[160]. - The largest customer contributed approximately 15.2% to total revenue, with the top five customers accounting for about 51.6% of total revenue for the year ended June 30, 2020[160]. - The company maintains stable long-term business relationships with major customers, with most of the top five customers having relationships ranging from three to nine years[163].
坤集团(00924) - 2020 - 年度财报