Financial Performance - For the six months ended June 30, 2024, the company reported revenue of SGD 13,989,129, an increase from SGD 10,740,265 in the same period of 2023, representing a growth of approximately 30.9%[1] - The gross profit for the first half of 2024 was SGD 3,403,973, compared to SGD 905,546 in the first half of 2023, indicating a significant increase in profitability[1] - The company incurred a loss before tax of SGD 1,365,723 for the first half of 2024, an improvement from a loss of SGD 2,812,152 in the same period of 2023, reflecting a reduction of approximately 51.5%[1] - The total comprehensive loss for the first half of 2024 was SGD 1,333,809, compared to SGD 2,638,714 in the first half of 2023, showing a decrease of about 49.6%[1] - The basic and diluted loss per share for the first half of 2024 was SGD 0.13, compared to SGD 0.28 in the same period of 2023, reflecting an improvement in loss per share[2] - The company recorded a net loss attributable to equity holders of (1,334,036) New Taiwan Dollars, a reduction of 53% from (2,842,052) New Taiwan Dollars in the previous year[24] - The group recorded a loss attributable to equity holders of approximately 1.3 million SGD in the first half of 2024, an improvement from a loss of about 2.8 million SGD in the same period of 2023[55] Assets and Liabilities - The company's total assets as of June 30, 2024, were SGD 26,809,940, down from SGD 28,601,898 as of December 31, 2023, representing a decline of approximately 6.3%[3] - The company's total liabilities decreased to SGD 11,546,815 as of June 30, 2024, from SGD 13,205,989 as of December 31, 2023, indicating a reduction of about 12.6%[4] - The company's total equity as of June 30, 2024, was 38,752,665 New Taiwan Dollars, down from 40,086,474 New Taiwan Dollars as of December 31, 2023[11] - The total equity attributable to the company's equity holders was approximately SGD 38.8 million as of June 30, 2024, compared to SGD 40.1 million as of December 31, 2023[56] - The total liabilities of the group were approximately SGD 11.5 million as of June 30, 2024, down from SGD 13.2 million as of December 31, 2023[56] Cash Flow and Financial Position - The company reported cash and cash equivalents of SGD 6,801,458 as of June 30, 2024, down from SGD 15,110,312 as of December 31, 2023, indicating a decrease of approximately 55.1%[3] - The group's cash and cash equivalents were approximately SGD 6.8 million as of June 30, 2024, down from SGD 15.1 million as of December 31, 2023[56] - The company's trade receivables amounted to 4,477,600 New Taiwan Dollars, an increase from 3,191,943 New Taiwan Dollars as of December 31, 2023, representing a growth of approximately 40.3%[28] - The company's trade payables were recorded at 903,141 New Taiwan Dollars as of June 30, 2024, significantly lower than 2,231,873 New Taiwan Dollars as of December 31, 2023, indicating a reduction of approximately 59.5%[32] Operational Focus and Market Outlook - The company continues to focus on providing demolition services, sales of inventory, and leasing machinery in Singapore, aiming for market expansion and operational efficiency[5] - The projected total construction demand in Singapore for 2024 is estimated to be between SGD 32 billion and SGD 38 billion, driven mainly by public sector projects[45] - The public sector is expected to contribute SGD 18 billion to SGD 21 billion, primarily from public housing and infrastructure projects[45] - The private sector is projected to contribute SGD 14 billion to SGD 17 billion, supported by residential development, commercial building redevelopment, and industrial facility development[45] - The outlook for the construction and demolition industry remains optimistic for the remainder of 2024, driven by ongoing infrastructure development and urban renewal initiatives in Singapore[46] Corporate Governance and Management - The company has adopted corporate governance principles to enhance shareholder value and ensure accountability[76] - The board consists of five executive directors and three independent non-executive directors, ensuring strong independence[77] - The Audit Committee consists of three independent non-executive directors, with Mr. Liang Youwen serving as the chairman, possessing appropriate professional qualifications and financial expertise[80] - The company has adopted the Listing Rules as its own standards for the conduct of securities trading by directors, ensuring compliance throughout the first half of 2024[79] Employee and Operational Metrics - Employee benefits expenses increased to 5,440,847 New Taiwan Dollars, up 13.7% from 4,786,980 New Taiwan Dollars year-over-year[19] - The group employed a total of 128 employees as of June 30, 2024, an increase of seven from December 31, 2023[59] Future Plans and Investments - The company plans to utilize the remaining unused proceeds by June 30, 2025[64] - The company has allocated HKD 51.2 million for the purchase of various excavators, including a 48.5-meter long-arm excavator, to enhance operational capabilities[64] - The company is focusing on identifying optimal opportunities and timelines to strengthen its equipment and pursue more registered projects for growth[64]
BENG SOON MACH(01987) - 2024 - 中期业绩