Financial Performance - The group's unaudited revenue for the six months ended January 31, 2025, was approximately SGD 5,027,000, a decrease of about SGD 2,464,000 compared to SGD 7,491,023 for the same period in 2024[5] - The group reported an unaudited loss of approximately SGD 1,097,000 for the six months ended January 31, 2025, compared to an unaudited loss of about SGD 760,000 for the same period in 2024[5] - Gross profit for the six months ended January 31, 2025, was SGD 1,156,045, down from SGD 1,723,141 in the same period of 2024, representing a decline of approximately 32.9%[6] - The basic and diluted loss per share for the six months ended January 31, 2025, was SGD 0.51, compared to SGD 0.91 for the same period in 2024[7] - The total revenue for the six months ended January 31, 2025, was SGD 5,026,764, down from SGD 7,491,023 in 2024, reflecting a decline of approximately 33%[20] - The company reported a pre-tax loss attributable to owners of SGD (1,097,007) for the six months ended January 31, 2025, compared to a loss of SGD (760,370) in 2024, representing an increase in loss of approximately 44%[28] - The company's total other income for the six months ended January 31, 2025, was SGD 39,339, down from SGD 81,799 in 2024, indicating a decline of approximately 52%[22] - Other income decreased from approximately 82,000 SGD for the six months ended January 31, 2024, to approximately 39,000 SGD for the six months ended January 31, 2025, mainly due to a reduction in received subsidies[39] - The group recorded a loss of approximately 1,097,000 SGD for the six months ended January 31, 2025, due to the combined impact of the aforementioned factors[41] Dividend and Equity - The board of directors did not recommend the payment of an interim dividend for the six months ended January 31, 2025[5] - The company did not declare an interim dividend for the six months ended January 31, 2025, consistent with the previous year[30] - The group's total equity as of January 31, 2025, was SGD 1,839,000, down from SGD 2,875,039 as of July 31, 2024[8] Assets and Liabilities - Total assets less current liabilities as of January 31, 2025, amounted to SGD 2,120,213, a decrease from SGD 3,308,156 as of July 31, 2024[8] - Cash and cash equivalents decreased by SGD 3,101,542 during the six months ended January 31, 2025, compared to an increase of SGD 631,403 in the same period of 2024[10] - The group's net cash used in operating activities was SGD 1,451,296 for the six months ended January 31, 2025, compared to SGD 400,666 for the same period in 2024[10] - As of January 31, 2025, the group's cash and cash equivalents were approximately 1,076,000 SGD, a decrease of approximately 3,078,000 SGD or 74.10% from the balance as of July 31, 2024[43] - Trade receivables increased to SGD 844,763 as of January 31, 2025, from SGD 588,287 as of July 31, 2024[8] - The total cost of asset acquisitions for the six months ended January 31, 2025, was approximately 485,000 SGD, compared to 5,000 SGD for the same period in 2024[31] Operational Changes - The group employed a total of 69 employees as of January 31, 2025, down from 96 employees in 2024, including 2 executive directors[42] - Administrative expenses decreased from approximately 2,389,000 SGD for the six months ended January 31, 2024, to approximately 2,088,000 SGD for the six months ended January 31, 2025, driven by cost-saving measures[40] - Interest expenses for bank and other borrowings decreased to SGD 29,902 from SGD 39,006, a reduction of approximately 23%[24] Government Grants and Financing - Government grants recognized during the period amounted to SGD 15,741, significantly lower than SGD 36,769 in the previous year, indicating a decrease of about 57%[22] - As of January 31, 2025, the group's factoring financing is secured by trade receivables amounting to approximately SGD 668,000, an increase from SGD 437,000 as of July 31, 2024[48] - The company entered into a bond agreement on August 10, 2023, with a principal amount of HKD 6,000,000 (approximately SGD 1,029,000) at an annual interest rate of 10%, which was fully repaid within six months[49] Strategic Initiatives - The company aims to deepen relationships with existing clients and explore new business opportunities to expand market share and implement new business strategies[51] - The group completed a rights issue on July 11, 2024, raising approximately 14,400,000 HKD (about 2,500,000 SGD) with 143,040,093 shares subscribed[45] - The net proceeds from the rights issue were allocated for upgrading the group's ERP system and hiring more employees in Singapore, with a total planned allocation of 13.50 million HKD[46] Governance and Compliance - The Audit Committee was established on June 20, 2016, consisting of three independent non-executive directors[62] - The Audit Committee's main responsibilities include reviewing the group's financial statements and reports, and assessing significant financial reporting judgments[62] - The Audit Committee has reviewed the unaudited condensed consolidated results for the six months ended January 31, 2025[62] - There are no significant events after the reporting period ending January 31, 2025, up to the date of this report[61] - The company has adopted a stock option plan effective for ten years from June 14, 2018, with no stock options granted, lapsed, exercised, or canceled during the reporting period[59] - There were no purchases, sales, or redemptions of the company's listed securities by the company or any of its subsidiaries during the six months ending January 31, 2025[55] - The group has no significant contingent liabilities as of January 31, 2025, consistent with the previous period ending July 31, 2024[50]
星亚控股(08293) - 2025 - 中期财报