Financial Performance - Revenue for the year ended June 30, 2024, was SGD 18,433,408, representing a 37.3% increase from SGD 13,442,516 in the previous year[1] - Gross profit for the same period was SGD 8,837,272, up from SGD 4,482,189, indicating a significant improvement in profitability[1] - The total comprehensive loss for the year was SGD 12,705,936, a decrease from SGD 14,991,827 in the prior year, reflecting a 15.3% improvement[2] - Basic and diluted loss per share for the year was SGD (1.20), compared to SGD (1.47) in the previous year, showing a reduction in loss per share[2] - The company reported a pre-tax consolidated loss of SGD 12,502,231 for the year, compared to a loss of SGD 14,292,979 in the previous year, indicating an improvement in financial performance[11][19] - The group recorded a loss of approximately SGD 12.6 million for the review year, compared to a loss of approximately SGD 14.5 million for the year ended June 30, 2023[41] Assets and Liabilities - Non-current assets totaled SGD 7,268,607, slightly down from SGD 7,305,211 in the previous year[3] - Current assets increased significantly to SGD 49,945,991 from SGD 27,456,140, indicating strong liquidity[3] - Total liabilities increased to SGD 30,053,022 from SGD 4,550,845, primarily due to a rise in trade and other payables[3] - The company's equity decreased to SGD 26,827,500 from SGD 30,054,911, reflecting the overall loss incurred during the year[4] - Trade receivables decreased to SGD 3,440,873 in 2024 from SGD 3,744,126 in 2023, showing a decline of approximately 8.1%[24] - Trade payables increased significantly to SGD 27,759,145 in 2024 from SGD 2,014,095 in 2023, indicating a substantial rise in liabilities[25] Revenue Sources - For the fiscal year ending June 30, 2024, total external customer revenue reached SGD 18,433,408, a significant increase from SGD 13,442,516 in the previous year, representing a growth of approximately 37%[11] - The Engineering Business segment generated SGD 17,149,296 in external customer revenue, while the Financial Technology Platform Business and Trading and Asset Management Business segments contributed SGD 313,111 and SGD 971,001, respectively[11] - Revenue from Singapore accounted for 93% of total revenue, down from 96% in the previous year, indicating a slight diversification in revenue sources[15] - Revenue from integrated design and construction services was SGD 16,131,316, up from SGD 12,115,502 in the previous year[34] - The company reported revenue from derivative trading and asset management services of SGD 971,001, which was not present in the previous year[34] Operational Developments - The company continues to focus on expanding its engineering and fintech platform businesses in Singapore, aiming for future growth[6] - The company expanded its operations by acquiring 100% of the shares of Da Sheng Asset Management Limited and Quality Union Limited on August 24, 2023, enhancing its consulting and asset management services[10] - The company is actively participating in the planning of a new hospital in eastern Singapore, responding to the growing demand for healthcare services due to the aging population[30] - The company is developing a fintech trading service platform aimed at providing global users with access to various asset classes, including virtual assets and Web3 assets[31] - The company plans to expand its market position in the healthcare engineering sector in Singapore and other markets, capitalizing on rapid growth opportunities[33] Income and Expenses - Interest income increased to SGD 344,856 in 2024 from SGD 203,135 in 2023, reflecting a growth of approximately 70%[18] - The company reported a total of SGD 568,927 in other income for the year, up from SGD 503,643 in the previous year, driven by government grants and rental income[18] - Administrative expenses increased by approximately SGD 3.3 million or 17.0% to SGD 22.5 million, accounting for 121.9% of revenue, primarily due to increased employee costs[40] - The company recorded a total tax expense of SGD 146,920 for 2024, a decrease from SGD 242,014 in 2023, representing a reduction of about 39.2%[21] Corporate Governance and Future Plans - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[57] - The company did not purchase, sell, or redeem any of its listed securities during the review year[59] - The audit committee reviewed the group's financial performance and confirmed that the results were prepared in accordance with applicable accounting standards[61] - The board of directors has decided not to declare a final dividend for the review year (2023: none)[63] - The annual general meeting is scheduled to be held on November 27, 2024[62] - The annual report containing all required information will be distributed to shareholders and published on the company's website[64]
HKE HOLDINGS(01726) - 2024 - 年度业绩