Financial Performance - For the fiscal year ending December 31, 2024, the total revenue was SGD 192,267,810, a decrease of 37.8% compared to SGD 309,180,303 in 2023[3]. - The gross profit for 2024 was SGD 7,839,953, representing a 49.3% increase from SGD 5,252,003 in 2023[3]. - The net profit attributable to shareholders for 2024 was SGD 8,953,613, compared to SGD 1,792,550 in 2023, indicating a significant increase[3]. - Basic earnings per share for 2024 was SGD 1.12, up from SGD 0.22 in 2023, reflecting a substantial growth[3]. - The group reported a pre-tax profit of SGD 9,279,300 in 2024, significantly higher than SGD 1,986,680 in 2023, marking an increase of approximately 366.5%[29]. - The net profit for 2024 reached SGD 8,953,613, a significant increase from SGD 1,792,550 in 2023, representing a growth of approximately 399%[41]. - The group's revenue for the fiscal year ending December 31, 2024, was approximately SGD 192.3 million, a decrease of about 37.8% compared to SGD 309.2 million in the previous year[72]. Assets and Liabilities - Total assets as of December 31, 2024, were SGD 189,277,504, compared to SGD 100,870,366 in 2023, showing a growth of 87.2%[4]. - The company reported a decrease in total liabilities to SGD 72,068,964 in 2024 from SGD 91,916,703 in 2023, a reduction of 21.6%[4]. - The total liabilities for the group increased significantly, with bank borrowings rising to SGD 2,583,817 in 2024 from SGD 643,957 in 2023[37]. - The group's debt included bank borrowings of approximately SGD 77.2 million as of December 31, 2024, compared to SGD 12.4 million in 2023, resulting in an asset-to-liability ratio of 1.21 times[77]. - The company has outstanding loans totaling SGD 77,181,647, with a significant portion secured by legal mortgages on development properties[64]. Revenue Sources - Revenue from customer contracts amounted to SGD 189,972,648 in 2024, down from SGD 306,905,401 in 2023, reflecting a decline of about 38.2%[23]. - The company’s revenue is derived from providing construction and engineering services, as well as rental income from investment properties[22]. - Rental income from investment properties was SGD 2,274,902 in 2024, slightly down from SGD 2,295,162 in 2023, showing a decrease of around 0.9%[23]. - Total revenue for the construction and engineering segment was SGD 189,972,648 in 2024, down from SGD 306,905,401 in 2023, representing a decrease of approximately 38.2%[29]. Market and Strategic Plans - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming fiscal year[2]. - The company is investing in new technology development to improve operational efficiency and customer experience[2]. - The group plans to report a new property development segment in the subsequent fiscal year following the acquisition of an industrial redevelopment project in Singapore[70]. - The group continues to seek new opportunities in the Singapore real estate market and is exploring the potential for bidding on various land uses[71]. Accounting Standards - The company has adopted new and revised International Financial Reporting Standards (IFRS) effective from January 1, 2024, which may impact future financial reporting[10]. - The company plans to adopt the new and revised International Financial Reporting Standards (IFRS) 18 starting from January 1, 2027, which may impact future consolidated financial statements[21]. - The board anticipates that the application of the new IFRS will not have a significant impact on the financial position and performance during the initial adoption period[17]. Employee and Operational Metrics - As of December 31, 2024, the group had 287 employees, a decrease from 360 employees as of December 31, 2023[79]. - The total employee costs for 2024 were SGD 14,508,047, compared to SGD 13,820,434 in 2023, marking an increase of about 5%[39]. Governance and Corporate Actions - The board of directors does not recommend declaring dividends for the year ending December 31, 2024, compared to no dividends declared in 2023[85]. - The company has adhered to corporate governance codes and has no CEO position as of December 31, 2024, with the chairman leading the overall strategy and daily operations[86][87]. - The audit committee confirmed that the consolidated financial statements for the year ended December 31, 2024, were prepared in accordance with applicable accounting standards and regulations[94].
BHCC HOLDING(01552) - 2024 - 年度业绩