Financial Performance - Total revenue for the year ended December 31, 2022, was approximately SGD 63.4 million, a decrease of about 11.4% compared to SGD 71.6 million for the year ended December 31, 2021[16]. - The cost of sales for the year ended December 31, 2022, was approximately SGD 54.8 million, a decrease of about 4.1% from SGD 57.2 million for the previous year[17]. - The group reported a loss before tax of SGD 1.371 million for the year ended December 31, 2022, compared to a profit of SGD 5.88 million in 2021[10]. - Gross profit decreased from approximately SGD 14.5 million for the year ended December 31, 2021, to approximately SGD 8.6 million for the year ended December 31, 2022, with a gross margin decline from 20.2% to 13.6%[19]. - Net loss for the year ended December 31, 2022, was approximately SGD 1.6 million, a decrease of about 131.3% compared to a net profit of SGD 5.1 million for the year ended December 31, 2021[23]. - Administrative expenses increased from approximately SGD 8.5 million for the year ended December 31, 2021, to approximately SGD 10.0 million for the year ended December 31, 2022, primarily due to increased employee benefits and professional fees[20]. Assets and Liabilities - Total assets as of December 31, 2022, were SGD 46.871 million, down from SGD 56.534 million in 2021[11]. - Total liabilities as of December 31, 2022, were SGD 15.274 million, a decrease from SGD 18.842 million in 2021[11]. - The equity attributable to owners of the company was SGD 31.596 million as of December 31, 2022, down from SGD 37.697 million in 2021[11]. - As of December 31, 2022, current assets were approximately SGD 42.5 million, with cash and cash equivalents of approximately SGD 17.5 million[25]. - The current ratio as of December 31, 2022, was 3.9, compared to 4.1 as of December 31, 2021[25]. - As of December 31, 2022, the company's outstanding bank borrowings amounted to approximately SGD 5.762 million[75]. Dividends - The board proposed a final dividend of SGD 0.001 per share for the year ended December 31, 2022, compared to SGD 0.00075 per share for the year ended December 31, 2021[24]. - The company reported a final dividend of SGD 0.001 per share for the year ended December 31, 2022, subject to shareholder approval at the annual general meeting[66]. - The company has established a dividend policy to ensure shareholders can share in profits while retaining sufficient liquidity for future growth opportunities[67]. Employee and Operational Insights - The group employed 1,736 full-time employees and 168 part-time employees as of December 31, 2022, a decrease from 2,294 full-time and 181 part-time employees in the previous year[92]. - Total salary costs for the group amounted to SGD 38,280,000 for the year ended December 31, 2022, down from SGD 47,541,000 in the previous year[92]. - The company is committed to maintaining an effective risk management system to address various operational risks, including contract duration and potential cost overruns[63]. - The company has not set measurable targets for gender diversity at the employee level but is committed to equal consideration for all qualified candidates regardless of gender[166]. Corporate Governance - The company emphasizes the importance of good corporate governance to enhance management and protect shareholder interests[140]. - The board of directors is committed to maintaining high ethical standards and effective corporate governance to enhance shareholder value and benefit employees and the community[144]. - The board has established mechanisms to ensure independent views and opinions are available, with half of the board members being independent non-executive directors[154]. - The company has adopted the corporate governance code and has complied with its provisions for the year ended December 31, 2022, except for one specific provision[144]. Risk Management and Compliance - The company has adopted a three-tier risk management approach to identify, assess, and manage various risks associated with its operations[183]. - The company has implemented an effective internal control system to safeguard significant assets and shareholder interests, which has been reviewed and deemed effective by the audit committee[184]. - The company has established a shareholder communication policy to ensure timely and equal access to information for shareholders and potential investors[190]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to sustainable development, as outlined in its environmental, social, and governance report[194]. - The board of directors is responsible for overseeing the group's environmental, social, and governance (ESG) matters, with a sustainable development committee assisting in reviewing and approving related strategies and goals[195]. - The group has set environmental goals related to greenhouse gas emissions, energy efficiency, waste management, and water consumption, with the board reviewing progress at least once a year[197]. Related Party Transactions - The independent non-executive directors confirmed that the disclosed related party transactions were conducted in the ordinary course of business and in accordance with fair and reasonable terms[104]. - Total amount paid to 2K Services Pte Ltd for the year ended December 31, 2022, was SGD 333,229, which is below the annual cap of SGD 822,000[102]. - The new framework agreement with 2K Services Pte Ltd includes contracts with two additional clients and will expire on December 31, 2024[101]. Board Composition and Diversity - As of December 31, 2022, the board consists of one female director and five male directors, following the appointment of Ms. Choi[162]. - Employee gender diversity as of December 31, 2022, shows 42.8% male and 57.2% female employees, promoting a diverse and inclusive work environment[164]. - The company has established a board diversity policy to enhance the effectiveness of the board by ensuring a balance of skills, experience, and diverse perspectives[162].
HYGIEIA GROUP(01650) - 2022 - 年度财报