Financial Performance - The group's revenue for the year ended December 31, 2019, was approximately SGD 122.6 million, an increase of 11.3% compared to SGD 110.0 million in the previous year[10]. - Gross profit for the year was approximately SGD 4.3 million, down from SGD 6.1 million in 2018, resulting in a gross margin of about 3.5%[15]. - The main business revenue from the building and construction segment accounted for about 99.4% of total revenue, amounting to SGD 121.8 million[15]. - Investment property income was approximately SGD 0.8 million, contributing about 0.6% to total revenue, with a significant portion leased to independent third parties[14]. - Other income decreased by approximately 45.3% to about SGD 0.2 million due to lower government subsidies received[16]. - The group's profit attributable to owners decreased from approximately SGD 3.15 million to about SGD 0.05 million for the year ended December 31, 2019[19]. - The group's cash and cash equivalents balance as of December 31, 2019, was approximately SGD 27.2 million, a decrease of about SGD 5.1 million from SGD 32.3 million as of December 31, 2018[28]. - The group's debt, including bank borrowings, was approximately SGD 20.7 million as of December 31, 2019, compared to SGD 16.3 million in 2018[28]. - The group's asset-liability ratio as of December 31, 2019, was 0.49, compared to 0.38 as of December 31, 2018[28]. - The company did not recommend any dividends for the year ended December 31, 2019, and suggested retaining annual profits[55]. - The company reported a cumulative loss of SGD 4,302,061 as of December 31, 2019, compared to SGD 4,033,692 in the previous year, indicating an increase in losses by approximately 6.6%[68]. - The company's distributable reserves were nil as of December 31, 2019, due to accumulated losses, which restricts dividend distribution unless debts due in the ordinary course of business can be settled[64]. Business Strategy and Outlook - Approximately 66.3% of the group's revenue came from public sector projects, which contributed to a healthy accounts receivable turnover of 17 days[13]. - The group plans to continue leveraging its expertise in public sector projects in the upcoming year[10]. - The group plans to expand its business and strengthen its market position in the Singapore construction industry, aiming to secure larger contracts and enhance its workforce[25]. - The impact of the COVID-19 pandemic is expected to affect global businesses in the short term, but the group remains optimistic about cash flow resilience[10]. - The group is closely monitoring the impact of the COVID-19 outbreak on its business and financial performance, with no significant disruptions reported as of the end of the reporting period[185]. Management and Governance - The board submitted the annual report and audited consolidated financial statements for the year ended December 31, 2019[52]. - The company has established policies and procedures to ensure compliance with relevant laws and regulations that significantly impact its business and operations[63]. - The company has implemented an integrated management system that includes ISO 9001, ISO 45001, and ISO 14001 certifications to promote environmental and social responsibility[66]. - The board of directors includes key members such as Mr. Yang Xinping and Ms. Han Yuying, with Mr. Yang holding a 51.13% stake in the company[81]. - The company has established good relationships with employees, customers, suppliers, and subcontractors, focusing on fair evaluations and feedback channels to improve service quality[70][71][72]. - The company has complied with the corporate governance code as set out in the listing rules for the year ended December 31, 2019[138]. - The board consists of two executive directors and three independent non-executive directors, ensuring a balance of power and authority[137]. - The company has established a board diversity policy, emphasizing the importance of diverse skills, experience, and perspectives among board members[134]. Environmental and Social Responsibility - The total carbon emissions from diesel consumption amounted to approximately 1,496.7 tons of CO2 equivalent for the year ending December 31, 2019[189]. - The total greenhouse gas emissions for the group were 2,024.8 tons of CO2 equivalent, which includes direct and indirect emissions[189]. - The group generated approximately 5,444.0 tons of non-hazardous waste, with no hazardous waste produced during the reporting period[195]. - The total electricity consumption was 1,214,047.9 kWh, with a usage density of 10.7 kWh per square meter[196]. - The total water consumption was 79,151.9 cubic meters, with a usage density of 0.7 cubic meters per square meter[196]. - The group has implemented a comprehensive management system including ISO 9001, ISO 45001, and ISO 14001 to enhance operational efficiency and environmental management[188]. - The group actively promotes resource efficiency and environmental protection through various initiatives, including digital office practices to minimize paper usage[193]. - The group has established waste management procedures to ensure proper disposal and recycling of construction waste[195]. Risk Management - The company faces risks related to economic conditions affecting the Singapore real estate market and construction demand, as well as reliance on successful bidding for project contracts[60]. - Financial risks include interest rate risk, currency risk, credit risk, liquidity risk, and price risk during normal business operations[61]. - The board is responsible for assessing the nature and extent of risks acceptable to the company in achieving its strategic objectives and ensuring effective risk management and internal control systems are in place[166].
BHCC HOLDING(01552) - 2019 - 年度财报