Financial Performance - For the six months ended June 30, 2021, the company's revenue increased by 160.0% to approximately SGD 6.5 million, compared to SGD 2.5 million in the same period last year[27]. - Gross profit improved from a loss of approximately SGD 0.4 million to a profit of approximately SGD 1.3 million, resulting in a gross profit margin of 19.3%[31]. - The net loss for the period was reduced to SGD 0.3 million from SGD 2.2 million in the previous year, representing an 86.4% improvement[31]. - The company reported a loss per share of SGD 0.03, compared to SGD 0.24 in the same period last year, marking an 87.5% improvement[31]. - Total comprehensive loss for the period was SGD (261,000), a reduction from SGD (2,184,000) in the prior year[84]. - The company incurred a loss before tax of SGD (264,000) for the six months ended June 30, 2021, compared to a loss of SGD (2,157,000) in the previous year[84]. - The company reported a revenue of SGD 6,538,000 for the six months ended June 30, 2021, a significant increase of 161% compared to SGD 2,505,000 for the same period in 2020[128]. Project and Contract Information - The company has ten ongoing projects with a total contract value of approximately SGD 81.8 million, of which approximately SGD 19.6 million has been recognized as revenue[29]. - Three new projects were awarded during the six months ended June 30, 2021, with a total contract value of approximately SGD 35.0 million[30]. - The company expects to recognize SGD 62,202,000 in revenue from contracts with remaining performance obligations within one to two years[131]. Market Conditions - The construction demand in Singapore is projected to be between SGD 23 billion and SGD 28 billion for 2021, an increase from SGD 19.5 billion in 2020[26]. - The company is adopting a more cautious approach to new project tenders due to uncertainties in the construction market and potential supply chain disruptions[26]. Cost and Expenses - Service costs increased by approximately SGD 2.4 million or 82.8% to about SGD 5.3 million for the six months ended June 30, 2021, consistent with revenue growth[35]. - Administrative expenses decreased by approximately SGD 0.4 million or 16.7% to about SGD 2.0 million, attributed to the recovery of business activities[39]. - Other income decreased by approximately SGD 0.2 million or 28.6% to about SGD 0.5 million due to reduced government grants and interest income[37]. Financial Position - As of June 30, 2021, the company had cash and bank balances of approximately SGD 17.3 million, up from SGD 16.6 million as of December 31, 2020[43]. - The current ratio and debt-to-equity ratio were approximately 2.6 times and 0%, respectively, indicating a stable financial position[43]. - The company reported a total liability of SGD 7,563,000, down from SGD 7,886,000 at the end of 2020[88]. - The company's net asset value decreased to SGD 51,818,000 from SGD 52,079,000 at the end of 2020[88]. Shareholder Information - As of June 30, 2021, the total equity held by directors and senior executives in the company was 549,792,000 shares, representing 60.05% of the issued voting shares[65]. - The company maintains a public float of at least 25% of its total issued shares as per listing rules[80]. - The company did not repurchase any shares during the reporting period, nor did it buy or sell any of its shares[64]. Governance and Compliance - The audit committee consists of three independent non-executive directors, ensuring compliance with applicable accounting standards[79]. - The company has adhered to corporate governance standards as outlined in the listing rules[76]. - No significant matters affecting the group's business or financial performance were noted post-reporting period[81]. Employee and Management Costs - Employee costs totaled approximately SGD 2.7 million, compared to SGD 2.5 million for the six months ended June 30, 2020[50]. - The remuneration for key management personnel for the six months ended June 30, 2021, was SGD 597,000, a decrease of 6.7% from SGD 640,000 in the same period of 2020[164]. - The employer's contribution to the defined contribution plan was SGD 20,000 for the six months ended June 30, 2021, compared to SGD 26,000 in the same period of 2020, reflecting a 23.1% decrease[164].
守益控股(02227) - 2021 - 中期财报