Financial Performance - The group's unaudited revenue for the three months ended March 31, 2021, was approximately SGD 2,160,000, an increase of about SGD 260,000 or 13.7% compared to SGD 1,900,000 for the same period in 2020[3]. - The group's unaudited loss for the three months ended March 31, 2021, was approximately SGD 908,000, an increase of about SGD 667,000 or 276.8% compared to a loss of SGD 241,000 for the same period in 2020[3]. - The total comprehensive loss for the three months ended March 31, 2021, was SGD 960,000, compared to SGD 171,000 for the same period in 2020[7]. - The company reported a pre-tax loss of SGD 908,000 for the three months ended March 31, 2021, compared to a loss of SGD 171,000 for the same period in 2020[47]. - The company recorded a loss of approximately SGD 889,000 for the three months ended March 31, 2021, compared to a loss of approximately SGD 186,000 for the same period in 2020, an increase in loss of about SGD 703,000[75]. Revenue Breakdown - Revenue from aesthetic services reached SGD 88,000, up from SGD 25,000 in Q1 2020, marking a significant increase of 252%[38]. - Consultation services generated SGD 448,000, compared to SGD 420,000 in the previous year, reflecting a growth of about 6.67%[38]. - Prescription and dispensing services revenue was SGD 675,000, an increase from SGD 586,000, which is a growth of approximately 15.19%[38]. - Revenue from treatment services was SGD 591,000, slightly down from SGD 603,000, indicating a decrease of about 1.99%[38]. - Other services, primarily laboratory tests during treatment, generated SGD 327,000, up from SGD 266,000, representing a growth of approximately 22.93%[38]. - Trade sales amounted to SGD 31,000, a new revenue stream compared to SGD 0 in Q1 2020[38]. - Revenue recognized at a point in time was SGD 1,033,000, an increase from SGD 852,000, reflecting a growth of approximately 21.25%[38]. - Revenue recognized over a period was SGD 1,127,000, compared to SGD 1,048,000, indicating a growth of about 7.54%[38]. Expenses and Costs - Employee benefit expenses for the three months ended March 31, 2021, were SGD 1,175,000, significantly higher than SGD 478,000 for the same period in 2020[5]. - Other operating expenses rose by approximately SGD 58,000 or 7% to SGD 847,000 for the three months ended March 31, 2021, compared to SGD 789,000 for the same period in 2020[69]. - The cost of consumables and medical supplies rose from SGD 318,000 to SGD 330,000, reflecting an increase in revenue from prescription and dispensing services[60]. - Interest expenses on borrowings amounted to SGD 47,000 for the three months ended March 31, 2021, with lease liabilities interest expenses at SGD 46,000, down from SGD 68,000 in the previous year[42]. - Income tax expenses decreased to approximately SGD 19,000 for the three months ended March 31, 2021, from approximately SGD 55,000 for the same period in 2020, mainly due to an increase in pre-tax losses[74]. Equity and Dividends - The total equity as of March 31, 2021, was SGD 9,124,000, an increase from SGD 5,531,000 as of January 1, 2021[7]. - The board does not recommend the payment of any dividend for the three months ended March 31, 2021[3]. - The company did not recommend any dividend for the three months ended March 31, 2021, consistent with the previous year[48]. Governance and Compliance - The company has adopted the corporate governance code and has complied with all applicable provisions for the three months ended March 31, 2021[83]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2021[96]. - The company is actively seeking suitable candidates to fill the vacancies on the board to comply with GEM listing rules[84]. - The board of directors confirmed compliance with the trading code for directors during the three months ended March 31, 2021[90]. - There were no interests held by directors or controlling shareholders in any competing businesses as of March 31, 2021[93]. Credit Risk and Financial Assets - Expected credit losses are recognized for financial assets, including trade and other receivables, financing lease receivables, and cash and cash equivalents, in accordance with IFRS 9[16]. - The group estimates expected credit losses using a provision matrix based on historical credit loss experience and adjusts for various factors, including current and forecasted economic conditions[16]. - A significant increase in credit risk is assessed by comparing the default risk of financial instruments at the reporting date with that at initial recognition[19]. - The group assumes that credit risk has significantly increased if contractual payments are overdue by more than 30 days, unless there is reasonable evidence to the contrary[20]. - Financial assets are considered to be in default if they are overdue by more than 90 days, based on past repayment records and the debtor's situation[22]. Lease and Asset Management - The group recognizes right-of-use assets and corresponding lease liabilities for all lease arrangements, excluding short-term leases and low-value asset leases[25]. - Lease liabilities are initially measured at the present value of lease payments that are not yet paid, discounted using the implicit rate of the lease or the incremental borrowing rate[25]. - The company did not make any adjustments to lease liabilities during the reported period[28]. Shareholding and Ownership - The company’s board member Loh Teck Hiong holds a 38.73% equity interest in the company through Brisk Success Holdings Limited, which owns 278,848,000 shares[77]. - As of March 31, 2021, Brisk Success holds 278,848,000 shares, representing 38.73% of the company's equity[80]. - Fung Yuen Yee, as the spouse of Dr. Loh, is deemed to have the same equity interest of 278,848,000 shares, also 38.73%[81]. - The company has not granted any share options since the adoption of the share option scheme on September 22, 2017[87]. - No purchases, sales, or redemptions of the company's shares were made by the company or its subsidiaries during the three months ended March 31, 2021[88].
德斯控股(08437) - 2021 Q1 - 季度财报