Financial Performance - The group's revenue for the six months ended June 30, 2020, was approximately SGD 36.2 million, a decrease of about 31.0% compared to SGD 52.5 million in the previous period[10]. - The loss attributable to owners of the company was approximately SGD 0.4 million, compared to a profit of SGD 1.1 million in the previous period[11]. - Total revenue for the six months ended June 30, 2020, was SGD 36,241,451, a decrease of 30.9% from SGD 52,488,525 in the same period of 2019[46]. - Service leasing revenue was SGD 35,490,151, down 32.1% from SGD 52,295,130 year-on-year[46]. - Gross profit for the period was SGD 686,896, a decline of 77.9% compared to SGD 2,974,489 in the previous year[46]. - The company reported a net loss of SGD 396,979 for the period, compared to a profit of SGD 1,059,700 in the same period last year[46]. - Basic and diluted loss per share was SGD (0.05), compared to earnings of SGD 0.13 per share in the prior year[46]. - The company did not recommend any dividend for the period, consistent with the previous period's zero dividend[42]. - The company reported a pre-tax loss of SGD 410,685 for the six months ended June 30, 2020, compared to a profit of SGD 1,436,165 in the same period of 2019[86]. - The group reported a loss attributable to owners of SGD 396,979 for the six months ended June 30, 2020, compared to a profit of SGD 1,059,700 for the same period in 2019, resulting in a basic and diluted loss per share of SGD (0.05) compared to earnings of SGD 0.13[104]. Cash and Liquidity - As of June 30, 2020, the group had cash and cash equivalents of approximately SGD 28.9 million, an increase of about SGD 1.7 million from SGD 27.2 million as of December 31, 2019[19]. - Cash and cash equivalents increased from SGD 27,157,425 to SGD 28,861,913, showing a growth of approximately 6.3%[49]. - The net cash generated from operating activities improved to SGD 2,374,231 for the six months ended June 30, 2020, compared to a net cash outflow of SGD 440,080 for the same period in 2019[56]. - The cash and cash equivalents, net of pledged deposits, amounted to SGD 29,850,683 as of June 30, 2020, compared to SGD 28,146,195 as of December 31, 2019[128]. - The group’s cash flow statement reported cash and cash equivalents of SGD 28,861,913 for the six months ended June 30, 2020, compared to SGD 27,157,425 for the same period in 2019[128]. Assets and Liabilities - The group’s total assets decreased from SGD 62,106,167 as of December 31, 2019, to SGD 54,673,712 as of June 30, 2020, representing a decline of approximately 11.5%[49]. - The equity balance decreased from approximately SGD 42.5 million as of December 31, 2019, to approximately SGD 42.1 million as of June 30, 2020, due to the current period's loss[20]. - The company’s total liabilities decreased from SGD 36,708,216 to SGD 28,196,265, representing a reduction of about 23.3%[49]. - The company’s non-current liabilities decreased from SGD 19,765,355 to SGD 19,137,077, a reduction of approximately 3.2%[51]. - The company’s total liabilities related to operating leases decreased by approximately 15% from the previous reporting period, reflecting a strategic focus on cost management[143]. Operational Highlights - The company plans to expand its business and strengthen its market position in the Singapore construction industry, aiming to secure larger contracts and enhance its workforce[15]. - The company is investing in Building Information Modeling (BIM) technology, upgrading from 3D to 5D, and integrating other smart office technologies[17]. - The company plans to invest in prefabricated modular construction to maintain competitiveness in the construction industry[18]. - The company received approval from the Building and Construction Authority (BCA) in mid-August 2020 to resume all ongoing projects[44]. - The group operates as an investment holding company, primarily providing building construction services and industrial property leasing[62]. Employee and Management Costs - The number of employees as of June 30, 2020, was 341, a decrease from 363 in the same period last year[21]. - Total employee costs for the period were SGD 5,033,039, down from SGD 6,089,042 in the same period of 2019, indicating a reduction of approximately 17.3%[100]. - Total remuneration for directors and key management personnel for the six months ended June 30, 2020, was SGD 641,608, a decrease from SGD 665,886 in the same period of 2019, reflecting a decline of approximately 3.6%[147]. Revenue Sources - Revenue from building and construction projects as main contractor was SGD 31,255,995, down from SGD 34,577,723 in 2019, indicating a decrease of about 6.7%[78]. - Rental income from investment properties was SGD 35,490,151, compared to SGD 52,295,130 in 2019, reflecting a decline of approximately 32.1%[78]. - Total revenue for the building and construction segment was SGD 35,490,151 for the six months ended June 30, 2020, down from SGD 52,295,130 in the same period of 2019, representing a decrease of approximately 32.1%[86]. - Major customers contributing over 10% of total revenue included Customer A with SGD 19,631,204 and Customer B with SGD 7,992,717, while Customer C contributed SGD 13,259,000 in the previous period[89]. Government Support - Government grants recognized during the period amounted to SGD 110,961, significantly up from SGD 16,828 in the previous period, primarily due to COVID-19 related support measures[92]. Contractual Obligations - The group’s total unfulfilled performance obligations amounted to SGD 304,000,443 as of June 30, 2020, compared to SGD 194,005,636 in the previous year, reflecting an increase of approximately 56.7%[81]. - The company reported contract assets of SGD 17,843,594 and contract liabilities of SGD (2,506,807) as of June 30, 2020, compared to contract assets of SGD 25,151,638 as of December 31, 2019[117]. - The group did not recognize any revenue related to previously fulfilled obligations during the reporting period[125]. Other Financial Metrics - The company recognized a total depreciation charge of SGD 790,012 for the six months ended June 30, 2020, compared to SGD 496,069 for the same period in 2019[107]. - Interest income for the period was SGD 70,376, slightly down from SGD 75,823 in the previous period, indicating a decrease of about 7.3%[92]. - The company has adopted a share option scheme since August 17, 2017, but no options have been granted or exercised as of June 30, 2020[34].
BHCC HOLDING(01552) - 2020 - 中期财报