Financial Performance - Revenue for the six months ended June 30, 2022, was SGD 42,473,000, an increase of 2.63% from SGD 41,388,000 in the same period of 2021[28] - Gross profit for the same period was SGD 3,855,000, representing a significant increase of 117.5% compared to SGD 1,777,000 in 2021[28] - The net profit attributable to the owners of the company for the period was SGD 1,331,000, up from SGD 422,000 in the previous year, marking a 215.4% increase[28] - Basic earnings per share increased to 0.13 cents from 0.04 cents, reflecting a growth of 225%[28] - The company reported a total comprehensive income of SGD 1,515,000 for the six months ended June 30, 2022, compared to SGD 454,000 for the same period in 2021, representing a significant increase of 233%[34] - Operating cash flow for the six months ended June 30, 2022, was SGD 1,714,000, a turnaround from a cash outflow of SGD 150,000 in the same period of 2021[36] - The company reported a profit of SGD 1,331,000 for the six months ended June 30, 2022, compared to SGD 422,000 for the same period in 2021, marking an increase of 215%[34] - Net profit for the period was approximately SGD 1.3 million, an increase of about 215.4% compared to SGD 422,000 in the same period last year, resulting in a net profit margin of approximately 3.1%[134] Assets and Liabilities - Total assets as of June 30, 2022, were SGD 109,733,000, a decrease from SGD 111,840,000 as of December 31, 2021[30] - Current assets amounted to SGD 77,221,000, down from SGD 78,541,000 at the end of 2021[30] - The company reported a total equity of SGD 88,070,000, an increase from SGD 86,507,000 at the end of 2021[32] - Non-current liabilities decreased to SGD 4,365,000 from SGD 5,732,000, indicating a reduction of 23.9%[32] - The total liabilities of the group as of June 30, 2022, were SGD 21,663,000, down from SGD 25,333,000 as of December 31, 2021, indicating a reduction of 14.5%[54] - The company's borrowings as of June 30, 2022, were SGD 3.7 million, down from SGD 4.3 million as of December 31, 2021, reflecting a decrease of approximately 14%[88] - The group's total bank borrowings and lease liabilities amounted to approximately SGD 9.0 million, a decrease from SGD 11.4 million as of December 31, 2021[144] Cash Flow and Investments - The company incurred net cash outflows from investing activities amounting to SGD 2,041,000 for the six months ended June 30, 2022, compared to SGD 9,078,000 in the previous year, indicating a reduction of 77%[36] - Financing activities resulted in a net cash outflow of SGD 3,368,000 for the six months ended June 30, 2022, down from SGD 4,021,000 in the same period of 2021, reflecting a decrease of 16%[36] - The company's cash and cash equivalents were SGD 27,819,000, down from SGD 31,514,000, a decline of 11.4%[30] - Cash and cash equivalents as of June 30, 2022, were approximately SGD 27.8 million, down from SGD 31.5 million as of December 31, 2021[137] - The group invested approximately SGD 1.6 million in property, plant, and equipment during the six months ended June 30, 2022, primarily funded by finance lease liabilities and operating cash[149] Revenue Segmentation - Revenue from external customers for the six months ended June 30, 2022, was SGD 42,473,000, an increase from SGD 41,388,000 for the same period in 2021, representing a growth of 2.62%[47] - The earthworks and supporting services segment remains the primary revenue source, accounting for about 91.6% of total revenue, with segment revenue rising from SGD 33.7 million to approximately SGD 38.9 million[114] - The general construction segment contributed approximately 8.4% or SGD 3.6 million to total revenue, reflecting limited bidding opportunities[116] - The general building works segment saw a revenue decrease of approximately 53.2% to about SGD 3.6 million due to limited bidding opportunities[125] Employee and Operational Expenses - Employee benefits expenses increased to SGD 8,911,000 for the six months ended June 30, 2022, from SGD 8,487,000 in 2021, reflecting a rise of 5%[67] - The total remuneration for the group’s employees, including directors' fees, was approximately SGD 10.9 million for the six months ended June 30, 2022, compared to SGD 10.5 million for the same period in 2021[153] - Administrative and other operating expenses increased by approximately 3.3% to about SGD 3.2 million, primarily due to rising labor costs[129] Future Outlook and Strategic Focus - The company plans to continue focusing on market expansion and new product development to drive future growth[28] - The company continues to focus on general construction and building services, with strategic decisions based on performance evaluations of its operating segments[38] - The group aims to explore new opportunities in public infrastructure projects and seek international business partnerships to expand its footprint[120] - The group anticipates a GDP growth forecast for Singapore to narrow to 3% to 4% due to a deteriorating global economic environment[117] Shareholder Information - The group’s major shareholder, Mr. Lin, held a total of 550,505,000 shares, representing approximately 53.11% of the issued share capital as of June 30, 2022[155] - The total number of shares available for issuance under the share option scheme is 100,000,000 shares, accounting for about 9.6% of the issued share capital as of the report date[164] - The company has no arrangements that allow directors or their family members to benefit from purchasing shares or debentures during the reporting period[174] Corporate Governance - The company has adhered to all applicable corporate governance codes during the reporting period, with a minor deviation due to the absence of an independent non-executive director at the annual general meeting[187] - The independent non-executive director, Mr. Huang Jiabao, was appointed as the chairman of the audit committee during the reporting period[190]
川控股(01420) - 2022 - 中期财报