Financial Performance - In the fiscal year 2020, the company recorded a net profit of SGD 24.7 million[17]. - The company achieved revenue of approximately SGD 134.2 million, an increase of 20.8% compared to the previous fiscal year[18]. - The net profit after tax for fiscal year 2020 reached approximately SGD 24.7 million, a significant increase of 183.0% from approximately SGD 8.7 million in fiscal year 2019[42]. - Earnings per share rose to 6.00 Singapore cents in fiscal year 2020, up from 2.03 Singapore cents in fiscal year 2019[42]. - The group's revenue for 2020 was SGD 134.2 million, a 20.8% increase from SGD 111.1 million in 2019[98]. - The net profit after tax for 2020 was SGD 39.5 million, up 93.6% from SGD 20.4 million in 2019[103]. - Earnings per share increased to 6.00 Singapore cents in 2020, compared to 2.03 Singapore cents in 2019, representing a 195.6% growth[108]. - The group reported a gross profit of SGD 63.6 million in 2020, compared to SGD 27.4 million in 2019, reflecting a substantial growth[108]. - The group’s profit before tax increased from approximately SGD 8.9 million in FY2019 to approximately SGD 29.3 million in FY2020, representing a growth of about SGD 20.4 million (or 228.5%)[137]. - Net profit rose from approximately SGD 8.7 million in FY2019 to approximately SGD 24.7 million in FY2020, an increase of about SGD 16.0 million (or 183.0%)[137]. Revenue Breakdown - Revenue from residential properties surged by approximately SGD 21.7 million (or 407.3%) from SGD 5.3 million in FY2019 to SGD 27.0 million in FY2020, driven by non-recurring income from new dormitory services[123]. - Facilities management revenue increased by approximately SGD 19.2 million (or 94.2%) from SGD 20.4 million in FY2019 to SGD 39.6 million in FY2020, mainly due to new dormitory services starting in Q3 FY2020[124]. - Revenue from industrial properties decreased by approximately SGD 12.4 million (or 31.5%) from SGD 39.2 million in FY2019 to SGD 26.9 million in FY2020, mainly due to the adoption of IFRS 16 which resulted in the non-recognition of approximately SGD 11.4 million in revenue[123]. - The group's logistics services segment generated SGD 24.9 million in revenue in 2020, slightly down from SGD 25.2 million in 2019[104]. Asset and Liability Management - The total assets of the group reached SGD 234.9 million in 2020, a significant increase from SGD 136.2 million in 2019[108]. - Non-current assets increased by approximately SGD 98.6 million from approximately SGD 136.2 million as of September 30, 2019, to approximately SGD 234.8 million as of September 30, 2020[137]. - Current assets rose from approximately SGD 50.7 million to about SGD 108.9 million, an increase of approximately SGD 58.2 million, driven by a rise in trade and other receivables[138]. - The group's current liabilities increased from approximately SGD 43.8 million to about SGD 94.2 million, an increase of approximately SGD 50.4 million[5]. - Non-current liabilities increased from approximately SGD 46.3 million to about SGD 126.0 million, an increase of approximately SGD 79.7 million, primarily due to bank borrowings[138]. Operational Highlights - The logistics management division operates container depots capable of handling up to 8,200 TEUs in Singapore and 19,000 TEUs in Thailand[31]. - The company operates over 50 prime movers, 15 tankers, and 200 trailers in its logistics services[32]. - The company is set to manage a commercial hotel with 158 rooms in Quanzhou, China, expected to be fully operational in 2021[34]. - The company has established 2 container depots in Thailand with capacities of 10,500 TEUs and 8,500 TEUs respectively[36]. - The logistics services segment expanded successfully, with the acquisition of its first logistics facility and the introduction of cross-border trucking services[51]. Strategic Initiatives - The company is expanding its business network across ASEAN to support sustainable growth[7]. - The company aims to expand its market presence and enhance its service offerings through strategic initiatives and potential acquisitions in the coming years[96]. - The company plans to expand its logistics services by increasing its transport fleet in Singapore and Malaysia to better support cross-border trailer services[117]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $30 million earmarked for potential acquisitions[183]. Corporate Governance and Compliance - The company is committed to maintaining good corporate governance according to the guidelines of the Singapore Exchange and Hong Kong listing rules, adopting the Hong Kong Corporate Governance Code since December 29, 2017[164]. - The board of directors is committed to overseeing the company's long-term success, with a focus on sustainable growth and risk management[189]. - The company has implemented a diversity policy for the appointment and re-election of directors[193]. - The audit committee, nomination committee, and remuneration committee are responsible for reviewing relevant issues and making recommendations to the board[195]. Sustainability and Community Engagement - The company has implemented energy efficiency measures, such as using energy-saving bulbs with motion sensors, to reduce electricity waste in its space optimization business[172]. - The company has installed solar panels in multiple buildings to supplement energy consumption from the grid and reduce environmental impact[172]. - The company actively participates in community support initiatives, including a food donation campaign that received enthusiastic responses from employees[172]. - The company has committed to using environmentally friendly cleaning products and has installed water-saving devices to prevent waste[172].
LHN(01730) - 2020 - 年度财报