Financial Performance - The total revenue for the fiscal year ending December 31, 2024, was SGD 14,064,000, a decrease of 17.5% from SGD 17,052,000 in 2023[7] - Gross profit for the same period was SGD 9,754,000, down 16.7% from SGD 11,717,000 in the previous year[7] - The net loss attributable to the owners of the company for the year was SGD 2,547,000, compared to a loss of SGD 4,923,000 in 2023, representing a 48% improvement[7] - The company reported a total comprehensive loss of SGD 2,630,000 for the year, compared to SGD 4,956,000 in 2023, indicating a 47% reduction in losses[7] - Revenue from external customers in Singapore decreased to SGD 9,200,000 in 2024 from SGD 12,336,000 in 2023, representing a decline of 25.8%[33] - Revenue from external customers in Malaysia increased slightly to SGD 4,864,000 in 2024 from SGD 4,716,000 in 2023, a growth of 3.1%[33] - The company reported a pre-tax loss of SGD 2,546,000 in 2024, compared to a loss of SGD 4,909,000 in 2023, indicating an improvement[31] - The group reported a pre-tax loss of SGD 2,547,000 for 2024, compared to a loss of SGD 4,923,000 in 2023, representing a 48% improvement[48] - Basic loss per share for 2024 was SGD 0.51, down from SGD 0.98 in 2023, indicating a 47.9% reduction in losses per share[48] Assets and Liabilities - Current liabilities increased to SGD 11,197,000 in 2024 from SGD 8,089,000 in 2023, reflecting a 38.5% rise[8] - Total assets decreased to SGD 8,646,000 in 2024 from SGD 8,827,000 in 2023[32] - Total liabilities increased to SGD 14,751,000 in 2024 from SGD 12,302,000 in 2023[32] - Trade receivables decreased to SGD 45,000 in 2024 from SGD 155,000 in 2023, a decline of 70.3%[50] - Trade and other payables increased to SGD 5,335,000 in 2024, up from SGD 4,267,000 in 2023, reflecting a 25% rise[55] - The group's current liabilities net worth was approximately SGD 9.43 million as of December 31, 2024, compared to SGD 6.08 million as of December 31, 2023[67] - As of December 31, 2024, the group's current liabilities and net debt were approximately SGD 9.434 million and SGD 6.105 million, respectively, indicating significant uncertainty regarding the group's ability to continue as a going concern[91] Cash Flow and Financial Support - The company's cash and cash equivalents rose to SGD 534,000 in 2024, up from SGD 411,000 in 2023, marking a 30% increase[8] - The group continues to maintain adequate cash and cash equivalents through internal cash flow and external funding sources[14] - The group anticipates sufficient cash sources to meet future working capital and other funding needs based on current measures and expected outcomes[12] - The group has secured a loan facility totaling SGD 1,000,000, which will be drawn in 2025, and a letter of intent from a financial institution granting a loan facility of approximately MYR 3,000,000 (about SGD 915,000)[14] - The company has committed to providing ongoing financial support to ensure operational continuity, with a specific amount of SGD 2,136,000 owed to a director[11] Operational Efficiency and Cost Control - The group is implementing measures to tighten cost control on operating expenses to improve operational efficiency and enhance future cash flow from operations[14] - Employee benefits expenses decreased to SGD 4,844,000 in 2024 from SGD 5,717,000 in 2023, a reduction of 15.2%[31] - The group incurred employee costs of SGD 4,947,000 in 2024, down from SGD 6,169,000 in 2023, a decrease of 19.7%[42] - The group recorded impairment losses on property, plant, and equipment of SGD 79,000 in 2024, down from SGD 687,000 in 2023[32] Corporate Governance and Compliance - The company is committed to high standards of corporate governance, although it currently does not separate the roles of chairman and CEO[78] - The board will continue to review the separation of the chairman and CEO roles at an appropriate time[78] - The company has implemented a code of conduct for directors regarding securities trading, ensuring compliance with GEM listing rules[82] - The independent auditor, Foo, Yau & Co., confirmed that the financial figures for the year ending December 31, 2024, align with the group's draft consolidated financial statements[88] - The company has maintained compliance with GEM listing rules regarding public float as of the announcement date[87] Segment Performance - The group operates two reportable segments: the restaurant operations segment and the artisanal bakery segment[29] - The performance of each segment is evaluated based on various aspects of profit and loss, with unallocated expenses and income not directly attributable to the segments[30] Dividends and Share Trading - The group did not recommend any final dividends for the years ended December 31, 2024, and 2023[47] - Trading of the company's shares has been suspended since April 1, 2025, and will continue until further notice[94]
聚利宝控股(08527) - 2025 - 年度业绩