Financial Performance - For the financial year ended June 30, 2022, the Group reported revenue of approximately S$10.0 million, a gross profit of approximately S$3.0 million, and a loss before taxation of approximately S$10.9 million[14]. - The Group's revenue for the Review Year was approximately S$10.0 million, representing a slight decrease of approximately S$0.3 million, or 2.3%, compared to approximately S$10.3 million for the year ended 30 June 2021[22]. - Revenue from integrated design and building services was approximately S$9.6 million, a decrease of approximately S$0.3 million, or 2.8%, compared to approximately S$9.9 million for the year ended 30 June 2021[29]. - The Group's gross profit was approximately S$3.0 million for the Review Year, with a gross profit margin of approximately 30%, an increase from 25.0% in the previous year[33]. - Other income for the Review Year was approximately S$0.3 million, or 2.6% of revenue, down from approximately S$0.6 million, or 6.2% of revenue for the year ended 30 June 2021[34]. - The Group recorded a loss of approximately S$11.3 million for the Review Year, compared to a net profit of approximately S$0.25 million for the year ended 30 June 2021[36]. Shareholder Equity and Financial Position - Total shareholders' funds amounted to approximately S$28.4 million as at 30 June 2022, compared to approximately S$27.8 million as at 30 June 2021[42]. - As of June 30, 2022, total shareholders' equity was approximately S$28.4 million, up from S$27.8 million as of June 30, 2021[43]. - Current assets were approximately S$25.5 million as of June 30, 2022, down from S$29.6 million in 2021, with cash and cash equivalents at approximately S$18.9 million compared to S$23.6 million in 2021[43]. - The current ratio decreased to 5.7 as of June 30, 2022, from 12.6 in 2021, indicating a decline in liquidity[43]. - The gearing ratio was 4.1% as of June 30, 2022, significantly up from 0.01% in the previous year, reflecting increased leverage[43]. Business Strategy and Expansion - The Group aims to expand its market position in the medical and healthcare construction sectors in Singapore and diversify into financial technology (FinTech) areas[16]. - A competent FinTech team has been established to develop and manage trading systems, custody infrastructure, and risk management, with relevant regulatory licenses applied for virtual asset trading[16]. - The Group is focused on establishing a foothold in the global digital assets custodian market as part of its corporate strategy[16]. - The Board believes that developing the FinTech business and potential acquisitions represent exciting opportunities to diversify the Group's revenue sources[17]. - The Group is optimistic about the prospects of its New Business, which involves providing FinTech platform services[21]. Operational Performance and Workforce - Administrative expenses increased by approximately S$11.3 million, or 425.2%, to approximately S$14.0 million, representing 138.9% of revenue for the Review Year[35]. - Total staff costs for the review year amounted to approximately S$12.2 million, up from approximately S$3.3 million in 2021, reflecting a significant increase in workforce and compensation[58]. - The Group employed a total of 146 full-time employees as of June 30, 2022, compared to 70 full-time employees in the previous year, indicating a growth in human resources[58]. Corporate Governance - The company is committed to high standards of corporate governance to safeguard shareholder interests and enhance corporate value[103]. - The Board is responsible for day-to-day operations, overseeing business development, and evaluating financial performance[104]. - The Board currently comprises three executive directors, two non-executive directors, and three independent non-executive directors[108]. - The company has adopted all mandatory disclosure requirements and code provisions in the Corporate Governance Code[103]. - The company has established three Board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, all chaired by Independent Non-Executive Directors (INEDs) to oversee their respective functions[120]. Risk Management and Compliance - The Company aims to develop a robust risk management and internal control system to manage operational and financial risks[150]. - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss, rather than absolute assurance[151]. - The Company adopted a whistleblowing policy and established anti-corruption policies to promote compliance with laws and regulations[157]. - During the Review Year, the effectiveness of the Group's risk management and internal control systems was reviewed and deemed effective and adequate[155]. Shareholder Communication - The Company has adopted a shareholders' communication policy to ensure timely access to transparent and accurate information for shareholders and the investment community[172]. - The Company aims to enhance communication with shareholders through various channels, including financial reports and general meetings[174]. - The Company is committed to understanding and soliciting the views of shareholders and stakeholders as part of its communication policy[173]. Future Plans and Projections - The company plans to allocate the net proceeds as follows: 34,000 for additional properties for factory and office use, 21,500 for recruiting additional staff, and 4,800 for issuing performance guarantees[66]. - The company plans to increase marketing efforts with an allocation of 2,300[66]. - The company has set a target to recruit additional staff by June 30, 2023, with a budget of 21,500[66]. - The company intends to use 6,300 as general working capital, which has already been fully allocated[68]. - The company aims to enhance its performance guarantees with a reserve of 4,800[66].
HKE HOLDINGS(01726) - 2022 - 年度财报