Financial Performance - The company's revenue for the fiscal year ending June 30, 2024, reached approximately SGD 69.5 million, an increase of about 37.3% from SGD 50.6 million for the fiscal year ending June 30, 2023[7]. - Gross profit for the fiscal year ending June 30, 2024, increased by approximately 138.3% to about SGD 5.9 million, compared to SGD 2.5 million for the previous fiscal year[7]. - The company reported a net loss after tax of approximately SGD 9,000 for the fiscal year ending June 30, 2024, significantly reduced from a net loss of approximately SGD 1.5 million for the previous year[7]. - Total revenue for the year ended June 30, 2024, increased by approximately 37.3% to SGD 69.5 million from SGD 50.6 million for the year ended June 30, 2023[14]. - Gross profit for the year ended June 30, 2024, was approximately SGD 5.9 million, representing an increase of about 138.3% compared to SGD 2.5 million for the year ended June 30, 2023[16]. - The company reported a loss of approximately SGD 9,000 for the year ended June 30, 2024, compared to a loss of approximately SGD 1.5 million for the year ended June 30, 2023[24]. - The company reported a pre-tax profit of SGD 294,415, a turnaround from a pre-tax loss of SGD 1,612,611 in the previous year[200]. - The net loss attributable to shareholders for the year was SGD 8,896, a substantial reduction from a loss of SGD 1,548,747 in the prior year[200]. Revenue and Demand Outlook - The Singapore construction demand is projected to reach between SGD 32 billion and SGD 38 billion in 2024, with public sector projects expected to account for about 55% of this demand[5]. - The company expects construction demand in Singapore to rise, with projected annual demand between SGD 31 billion and SGD 38 billion from 2025 to 2028[10]. - The number of public sector projects contributing to revenue increased to 64, generating SGD 68.7 million, which accounted for 98.9% of total revenue for the year ended June 30, 2024[13]. Cost and Profitability - The gross profit margin improved from approximately 4.9% to about 8.5% due to the recovery of the Singapore construction industry post-COVID-19 and stable profit margins from newly awarded projects[7]. - Service costs rose by approximately 32.2% to SGD 63.6 million for the year ended June 30, 2024, compared to SGD 48.1 million for the year ended June 30, 2023[15]. - Administrative expenses increased to SGD 4,415,795 from SGD 3,504,879, indicating rising operational costs[200]. - The company experienced a financial asset impairment loss of SGD 790,663, up from SGD 700,000 in the previous year[200]. Employee and Workforce Management - The company emphasizes the importance of employee welfare and safety, viewing employees as its most valuable asset[4]. - Employee costs for the year ended June 30, 2024, totaled approximately SGD 8.7 million, an increase from SGD 7.1 million in 2023[35]. - The total number of employees as of June 30, 2024, was 197, down from 207 in 2023, indicating a decrease of about 4.8%[163]. - The overall employee turnover rate increased to 23.4% in 2024 from 19.8% in 2023[164]. - The company has implemented policies to ensure compliance with employment laws and promote equal opportunities without discrimination[162]. Corporate Governance and Compliance - The company has adopted all the corporate governance code provisions as its own corporate governance practices, ensuring compliance for the year ending June 30, 2024[52]. - The company has established a robust framework for corporate governance to protect shareholder interests and enhance corporate value[52]. - The board consists of two executive directors and three independent non-executive directors, with changes in membership noted in 2023[56]. - The company has mechanisms in place to ensure independent opinions are expressed by the board, with independent directors meeting annually to discuss concerns[63]. - The company has a zero-tolerance policy towards corruption and bribery, ensuring compliance with anti-bribery laws in all operational jurisdictions[82]. Environmental Performance - The company reported a reduction in nitrogen oxides emissions from 274,906.09 grams in 2023 to 262,182.41 grams in 2024, representing a decrease of approximately 4.5%[150]. - Sulfur oxides emissions decreased significantly from 690.34 grams in 2023 to 278.65 grams in 2024, a reduction of about 59.7%[150]. - The total greenhouse gas emissions (Scope 1) decreased from 123.64 tons CO2 equivalent in 2023 to 41.98 tons CO2 equivalent in 2024, a decline of approximately 66.0%[151]. - The company aims to reduce emissions further by exploring the adoption of electric vehicles and promoting efficient vehicle usage in daily operations[152]. - The company has established an environmental management system compliant with ISO 14001:2015 standards to enhance environmental compliance[158]. Risk Management - The company faces risks related to reliance on non-recurring contracts obtained through bidding processes, which may impact its financial performance[8]. - The company has established a risk management policy to identify, assess, and manage key business risks, with quarterly evaluations conducted by departments[80]. - The board is responsible for overseeing the overall risk management and ensuring the effectiveness of the internal control system[80]. - The company has implemented an insider trading policy to ensure timely and fair disclosure of material information to the public[81]. Future Plans and Strategic Goals - The company plans to continue focusing on market expansion and product development to drive future growth[200]. - The company is prepared to seize opportunities in Singapore's thriving construction industry, aiming for sustainable growth[5]. - The company has allocated SGD 2.5 million for hiring additional staff to strengthen its workforce[40]. - The company has earmarked SGD 6.5 million for potential new projects in electrical engineering[40].
坤集团(00924) - 2025 - 年度财报