Financial Performance - For the three months ended September 30, 2019, the revenue was SGD 5,916,000, a decrease of 5.3% compared to SGD 6,249,000 for the same period in 2018[5] - The gross profit for the same period was SGD 1,494,000, down 15.0% from SGD 1,757,000 in 2018[5] - The net profit attributable to owners of the company for the nine months ended September 30, 2019, was a loss of SGD 323,000, compared to a profit of SGD 245,000 in the same period of 2018[5] - The basic and diluted loss per share for the nine months ended September 30, 2019, was SGD (0.05), compared to earnings of SGD 0.04 in 2018[5] - Total revenue for the nine months ended September 30, 2019, was SGD 17.194 million, down 9.0% from SGD 18.879 million in the same period of 2018[28] - The group recorded a loss of approximately SGD 0.3 million for the nine months ended September 30, 2019, compared to a profit of approximately SGD 0.2 million for the same period in 2018, primarily due to decreased sales and gross profit[48] Comprehensive Income - Total comprehensive income for the three months ended September 30, 2019, was SGD 133,000, compared to SGD 106,000 in 2018, reflecting a 25.2% increase[5] Expenses - The administrative and other operating expenses for the nine months ended September 30, 2019, were SGD 3,330,000, an increase from SGD 3,019,000 in 2018[5] - The financing costs for the nine months ended September 30, 2019, increased to SGD 310,000 from SGD 198,000 in the previous year[5] - The overall gross profit margin decreased from approximately 26.6% for the nine months ended September 30, 2018, to approximately 25.5% for the same period in 2019, primarily due to a decrease in sales of higher-margin food products[44] - The selling and distribution costs decreased by approximately SGD 0.5 million or about 25.4% to approximately SGD 1.4 million for the nine months ended September 30, 2019, from approximately SGD 1.9 million for the same period in 2018[45] - Administrative and other operating expenses increased by approximately SGD 0.3 million or about 10.3% to approximately SGD 3.3 million for the nine months ended September 30, 2019, from approximately SGD 3.0 million for the same period in 2018[46] - Financing costs increased by approximately SGD 0.1 million or about 56.6% to approximately SGD 0.3 million for the nine months ended September 30, 2019, from approximately SGD 0.2 million for the same period in 2018[47] Assets and Liabilities - The total equity attributable to owners of the company as of September 30, 2019, was SGD 17,284,000, a decrease from SGD 17,607,000 at the beginning of the year[6] - The adoption of Hong Kong Financial Reporting Standard 16 resulted in the recognition of right-of-use assets amounting to SGD 729,000 as of January 1, 2019[15] - Lease liabilities were categorized as SGD 162,000 (current) and SGD 567,000 (non-current) on the balance sheet[15] - The total lease liabilities recognized on January 1, 2019, amounted to SGD 729,000, reflecting an increase from the operating lease commitments of SGD 714,000 as of December 31, 2018[17] - The company has a contingent liability of SGD 550,000 related to performance bonds issued to certain suppliers as of September 30, 2019[37] Business Strategy and Operations - The company continues to focus on its core business in food supply and is exploring opportunities for market expansion[9] - The group aims to expand its warehouse and production facilities through the acquisition of a new property in Singapore, which is expected to reduce third-party warehouse rental costs and improve financial performance[40] - The group plans to continue promoting its brand and providing quality products while seizing business opportunities across various sectors despite facing a challenging year due to intense market competition[40] Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM listing rules during the nine months ended September 30, 2019[57] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2019[60] - The audit committee consists of three independent non-executive directors and one non-executive director, ensuring oversight of financial reporting and risk management[60] - The company is committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[57] Shareholder Information - The company did not recommend any dividend payment for the nine months ended September 30, 2019, consistent with the previous year[36] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the nine months ended September 30, 2019[52] - As of September 30, 2019, no stock options were granted under the stock option plan adopted on August 30, 2017[53] - The company has not issued any stock options since the adoption of the stock option plan, indicating no incentive or reward distribution to eligible persons[53] Compliance and Conflicts of Interest - There were no business activities that constituted or could potentially constitute competition with the group during the nine months ended September 30, 2019[55] - The company has not engaged in any transactions that would create a conflict of interest with major shareholders or their associates during the nine months ended September 30, 2019[55] - The company has adopted trading standards for directors in accordance with GEM listing rules, confirming full compliance during the nine months ended September 30, 2019[58]
COOL LINK(08491) - 2019 Q3 - 季度财报