Financial Performance - For the three months ended September 30, 2020, ISP Global Limited reported revenue of SGD 1,049,173, a decrease of 50.3% compared to SGD 2,110,216 for the same period in 2019[6]. - The gross profit for the same period was SGD 500,368, down 29.5% from SGD 709,631 in the previous year[6]. - The company recorded a loss before tax of SGD 153,454, compared to a profit of SGD 235,597 in the prior year[6]. - The net loss for the period was SGD 95,553, a significant decline from a profit of SGD 229,671 in the same quarter of 2019[6]. - The total comprehensive loss for the period was SGD 96,644, contrasting with a total comprehensive income of SGD 229,634 in the prior year[8]. - Basic and diluted loss per share was SGD (0.01), compared to earnings per share of SGD 0.03 in the same quarter of 2019[8]. - The company reported a net loss of approximately SGD 95,600 for the period ending September 30, 2020, compared to a net profit of approximately SGD 229,700 in the same period of 2019[47]. - Revenue from sales of audio and communication systems and related services was SGD 720,287, a decrease of 57.0% from SGD 1,676,268 in the same period of 2019[27]. - Total revenue for the period was SGD 1,049,173, down 50.3% from SGD 2,110,216 in the same period of 2019[27]. - The company incurred a total employee cost of SGD 623,189, down 26.2% from SGD 845,013 in the same period of 2019[34]. - The company recorded a net foreign exchange loss of SGD 99,896 for the period, compared to a gain of SGD 97,206 in the same period of 2019[30]. - Other income and losses resulted in a loss of approximately SGD 53,400, a decrease of about SGD 186,000, mainly due to foreign exchange losses from currencies like USD and HKD depreciating against SGD[56]. - Administrative expenses slightly decreased by SGD 3,700 or 0.6% to about SGD 593,700, primarily due to reduced labor costs[57]. - Financial costs decreased by approximately SGD 2,600 or 28.0% to about SGD 6,700, mainly due to repayment of mortgage principal[58]. - The company recorded a net loss of approximately SGD 95,600 for the period, compared to a profit of about SGD 229,700 for the previous period, attributed to decreased sales and significant foreign exchange losses[61]. - The company has no proposed or paid dividends during the period, consistent with the previous year[45]. - No dividends were recommended during the period, consistent with the previous period[62]. Business Operations - The company continues to focus on its core business of selling audio and communication systems and providing related services[21]. - The company plans to strengthen its team by hiring technical experts to provide innovative integrated system solutions[48]. - The company has received more maintenance and service contracts for audio and communication system solutions in recent years, despite a contraction in the construction industry in Singapore[48]. - The company plans to gradually resume project site sales and installation deliveries in accordance with existing social distancing measures and regulations during the economic recovery phase post-COVID-19[48]. - Revenue decreased by approximately SGD 1.1 million or 50.3% to about SGD 1.0 million for the period ending September 30, 2019, primarily due to project delays in the audio and communication systems sector[52]. - Cost of sales/service reduced by approximately SGD 0.9 million or 60.8% to about SGD 0.5 million, aligning with the decrease in revenue[53]. - Gross profit decreased from approximately SGD 0.7 million to about SGD 0.5 million, while gross margin increased from 33.7% to 47.7% due to higher actual construction revenue from a specific project[54]. - The company remains cautiously optimistic about business expansion opportunities in Singapore and the Asia-Pacific region[50]. - The company plans to enhance marketing efforts in the audio and communication industry in Singapore, with a budget of SGD 1.4 million, of which 28.6% has been utilized[69]. - The company plans to strengthen its marketing efforts in Singapore's audio and communication industry, including the development of branded marketing materials and participation in industry exhibitions[93]. - The company aims to expand its sales and technical support staff, with plans to hire approximately 8 technicians by June 2018 and additional engineers and sales managers by June 2019[93]. - The company is exploring new comprehensive service projects in Singapore's audio and communication systems, particularly larger projects that may require performance guarantees[99]. - The company continues to receive invitations for tenders and project awards, indicating ongoing business opportunities despite market challenges[102]. Corporate Governance - The financial statements were approved by the board of directors on November 6, 2020, indicating ongoing governance and oversight[21]. - The company confirms that it has maintained sufficient public float as per GEM listing rules during the reporting period[124]. - There were no purchases, sales, or redemptions of the company's listed securities by the company or its subsidiaries during the reporting period[126]. - The company adopted a share option scheme on December 14, 2017, but no options have been granted under this scheme since its adoption[127]. - The audit committee, established on December 14, 2017, is responsible for reviewing financial statements and internal controls[131]. - The company has complied with the corporate governance code since its listing on January 16, 2018[130]. - The first quarter results for the period have not been audited by independent auditors but have been reviewed by the audit committee members[133]. Shareholder Information - Mr. Mong and Ms. Chuang each hold 404,000,000 shares in Express Ventures, representing 50.50% of the total equity[112]. - Mr. Mong has a beneficial ownership of 97.14% in Express Ventures, while Ms. Chuang holds 2.86%[115]. - As of September 30, 2020, Mr. Tsai Lin-Chou holds 41,400,000 shares, accounting for 5.18% of the equity[118]. Currency and Exchange Rates - The exchange rate used for conversion is 1 Singapore Dollar to 5.85 Hong Kong Dollars[133].
ISP GLOBAL(08487) - 2021 Q1 - 季度财报