Financial Performance - The group recorded a revenue increase of 29.2%, rising from approximately SGD 10.4 million in the fiscal year 2018 to about SGD 13.5 million in the fiscal year 2019[9]. - The profit for the fiscal year 2019 was approximately SGD 0.6 million, compared to a loss of SGD 0.7 million in the fiscal year 2018[9]. - The total revenue for the year was approximately SGD 13,462,000, an increase of about SGD 3,041,000 or 29.2% compared to SGD 10,421,000 in the 2018 fiscal year[15]. - Revenue from consultation services, medical examination services, and treatment services were approximately SGD 1.355 million, SGD 4.040 million, and SGD 8.067 million, respectively, accounting for 10.1%, 30.0%, and 59.9% of total revenue[14]. - Revenue from diagnostic services increased from approximately SGD 1,057,000 in 2018 to SGD 1,356,000 in the current year, a rise of about SGD 299,000[17]. - Revenue from medical examination services rose from approximately SGD 3,017,000 in 2018 to SGD 4,040,000, an increase of about SGD 1,023,000, maintaining a contribution percentage of around 30.0%[17]. - Revenue from treatment services grew from approximately SGD 6,263,000 in 2018 to SGD 8,067,000, an increase of about SGD 1,804,000, with a stable contribution percentage of approximately 59.9%[17]. - The company recorded a profit of approximately SGD 638,000 for the year, an increase of about SGD 1.4 million compared to a loss of approximately SGD 731,000 in the 2018 fiscal year[31]. - The income tax expense for the year was approximately SGD 462,000, compared to SGD 87,000 in the 2018 fiscal year[29]. Operational Developments - The company plans to establish three new consultation centers in the fiscal year 2020, currently under renovation[10]. - The company operates a network of seven DTAP consultation centers and one SA consultation center as of the report date[10]. - The group expects a challenging and competitive business environment moving forward[10]. - The company aims to expand market share and enhance the Dr. Tan & Partners brand reputation in the healthcare services industry in Singapore[14]. - The group will continue to manage expenses, particularly labor costs, by upgrading and utilizing technology[10]. Employee and Labor Costs - Employee benefits expenses increased by SGD 893,000 or 24.4% to SGD 4,552,000 due to an increase in the number of employees[22]. - The total number of employees increased from 33 in 2018 to 51 in 2019[23]. - Employee costs for the year were approximately SGD 4.6 million, up from SGD 3.7 million in the fiscal year 2018, with a total of 51 employees as of December 31, 2019[43]. Financial Position - Total equity of the group as of December 31, 2019, was approximately SGD 13.2 million, an increase from SGD 12.6 million in the fiscal year 2018[34]. - Cash and bank balances as of December 31, 2019, were approximately SGD 5.9 million, down from SGD 12.4 million in the fiscal year 2018[34]. - Net cash generated from operating activities was approximately SGD 2.7 million, compared to a net cash outflow of SGD 0.3 million in the fiscal year 2018[34]. - The group's capital debt ratio as of December 31, 2019, was 18.6%, a significant increase from 0.0% in the fiscal year 2018[34]. Corporate Governance - The company is committed to maintaining high standards of accountability and ethical conduct in its operations[69]. - The board includes independent non-executive directors with extensive experience in finance and auditing, enhancing corporate governance[69][70]. - The company has adopted and complied with all applicable corporate governance code provisions as per the GEM listing rules for the year ending December 31, 2019[150]. - The company has established a strong internal control and risk management framework to ensure effective accountability[149]. - The company has confirmed that all directors have complied with the trading code as per GEM listing rules during the year[151]. Shareholder Information - The company did not declare a final dividend for the year[33]. - The group did not declare any dividends for the current year, consistent with the previous year[87]. - As of December 31, 2019, the group had no distributable reserves, unchanged from 2018[97]. - The next annual general meeting is scheduled for June 26, 2020, with a suspension of share transfer registration from June 22 to June 26, 2020[88]. Strategic Initiatives - The company aims to expand its market presence and enhance its operational efficiency through strategic initiatives[81]. - The company spent SGD 2.6 million to strategically expand and consolidate the DTAP treatment center network, with SGD 497,000 already utilized by the first half of 2021[54]. - A total of SGD 4.3 million was allocated for the continuous recruitment and retention of doctors and staff, with SGD 1.091 million utilized by the second half of 2021[54]. - The company invested SGD 600,000 to enhance and improve its IT infrastructure, with SGD 176,000 spent by the second half of 2020[54]. Compliance and Legal Matters - The company has confirmed compliance with non-competition agreements by all controlled persons during the year[118]. - The company has not disclosed any significant events that require disclosure after December 31, 2019, up to the date of the report[142]. - The company has complied with all relevant laws and regulations affecting its business operations during the year, with no significant violations reported[138]. Audit and Financial Reporting - The audit committee has reviewed the audited consolidated financial statements for the year and confirmed they were prepared in accordance with applicable accounting standards and GEM listing rules[146]. - Baker Tilly TFW LLP has been appointed as the independent auditor for the company, succeeding PwC, and will be proposed for reappointment at the 2020 annual general meeting[147]. - The external auditor's fees for the year ending December 31, 2019, amounted to SGD 120,000 for audit services, with no fees for non-audit services[191].
REPUBLIC HC(08357) - 2019 - 年度财报