Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was approximately SGD 66.1 million, representing a stable growth of 9.3% compared to approximately SGD 60.5 million for the previous year[17]. - Revenue from truck transportation services increased from approximately SGD 20.0 million in 2023 to approximately SGD 22.6 million in 2024, marking a growth of about SGD 2.6 million or 13% due to sustained demand from customers[18]. - Freight forwarding service revenue for the years ending December 31, 2023, and 2024, was approximately SGD 26.6 million and SGD 29.7 million, respectively, reflecting an increase of SGD 3.1 million or 11.7% due to higher import and export demand in 2024[19]. - Value-added transportation service revenue remained stable at approximately SGD 13.9 million for both years ending December 31, 2023, and 2024[20]. - Gross profit for the years ending December 31, 2023, and 2024, was approximately SGD 19.2 million and SGD 20.9 million, respectively, representing an increase of SGD 1.7 million or 8.9% driven by increased service demand[21]. - Net profit increased from approximately SGD 3.4 million for the year ending December 31, 2023, to approximately SGD 5.0 million for the year ending December 31, 2024, with a net profit margin rising from about 5.7% to 7.6%[28]. Operational Capacity and Expansion - The company signed a lease agreement for a property in Singapore for SGD 17 million, with a lease term of 20 years starting from February 26, 2025, to enhance its operational capacity[13]. - The fleet as of December 31, 2024, included 55 prime movers, 485 trailers, and 21 flatbed trucks, along with 3 logistics yards and 3 warehouses totaling approximately 81,323 square meters[14]. - The company aims to improve visibility in logistics operations and broaden funding channels to support its expansion plans and strengthen market position[14]. - The company plans to continue strategic acquisitions to achieve long-term growth and enhance its competitive advantage[8]. Cost Management and Financial Health - The management emphasizes prudent cost management in response to external factors such as diesel price fluctuations and labor cost pressures[16]. - Administrative expenses for the years ending December 31, 2023, and 2024, were approximately SGD 15.0 million and SGD 15.9 million, respectively, mainly due to increased wage costs and foreign employee accommodation[26]. - The debt ratio decreased to approximately 27.7% as of December 31, 2024, from 31.3% as of December 31, 2023, due to repayment of bank loans and an increase in total equity[33]. - As of December 31, 2024, the company had cash and bank balances of approximately SGD 14.5 million, down from SGD 22.8 million as of December 31, 2023[31]. Corporate Governance - The board consists of three executive directors and three independent non-executive directors, ensuring a balanced governance structure[60]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules, demonstrating commitment to high governance standards[57]. - The management team is required to provide sufficient information to the board to enable them to fulfill their duties effectively[59]. - The company has established committees to assist the board in fulfilling its governance responsibilities[59]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional skills in selecting board candidates[68]. Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainability as a key to ongoing success and has integrated it into its business strategy[161]. - The group has established an ESG working group responsible for collecting relevant data for the ESG report[162]. - The company is committed to reducing greenhouse gas emissions through various measures, including improving energy efficiency and promoting double-sided printing[181]. - The company actively seeks opportunities to enhance its environmental, social, and governance performance[176]. - The company has established risk management policies to identify and mitigate potential climate-related risks that could affect its business activities[200]. Shareholder Engagement and Policies - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders[97]. - The company encourages shareholder participation in the annual general meeting and other decision-making processes[97]. - The board has resolved not to recommend a final dividend for the year ending December 31, 2024, consistent with the previous fiscal year where no dividend was declared[156]. - The company has adopted a dividend policy aimed at providing stable and sustainable returns to shareholders while retaining sufficient reserves for future growth[152]. Related Party Transactions - The ongoing related party transactions include the R&S Master Service Agreement and JH Master Service Agreement, both effective from January 1, 2023, to December 31, 2025[127]. - Independent non-executive directors have reviewed the ongoing related party transactions, confirming they are conducted in the ordinary course of business and on fair terms[128]. - The company has complied with the relevant disclosure requirements under the Listing Rules regarding related party transactions[125].
LEGION CONSO(02129) - 2024 - 年度财报