Financial Performance - The group's operating income increased by 5.1% to SGD 11.6 million in the fiscal year 2021, compared to SGD 11 million in 2020, primarily due to improved performance fees from the investment management segment[14]. - The company reported a revenue of approximately SGD 5.596 million for the fiscal year ending December 31, 2021, representing a 5.1% increase from SGD 5.325 million in 2020[39]. - The net profit for the year was approximately SGD 7.461 million, a significant turnaround from a net loss of SGD 20.263 million in 2020, marking an improvement of approximately SGD 27.7 million or 136.8%[44]. - Investment management service revenue increased from approximately SGD 0.580 million in 2020 to SGD 0.896 million in 2021, a rise of about 54.5%[54]. - Fund management revenue surged from approximately SGD 1.20 million in 2020 to SGD 2.60 million in 2021, a significant increase of approximately SGD 1.40 million or 112.8%[55]. - Revenue from acquisition and project management services increased from approximately SGD 1.3 million in 2020 to about SGD 2.0 million in 2021, representing an increase of approximately SGD 670,000 or 50.6%[56]. - Revenue from property management and leasing services decreased from approximately SGD 1.4 million in 2020 to about SGD 39,000 in 2021, indicating a decrease of approximately SGD 1.4 million or 97.3%[57]. - Revenue from financial advisory services decreased from approximately SGD 783,000 in 2020 to about SGD 104,000 in 2021, representing a decrease of approximately SGD 679,000 or 86.7%[59]. - Other income and gains decreased from approximately SGD 1.4 million in 2020 to about SGD 911,000 in 2021, a reduction of approximately SGD 466,000 or 33.8%[60]. Asset Management and Client Base - As of December 31, 2021, the group managed assets exceeding SGD 432 million, representing a year-on-year increase of 3.3%[21]. - The group has over 334 clients, with repeat transaction clients accounting for approximately 35% of the client base, indicating strong customer loyalty and trust[21]. - The company managed assets worth approximately USD 100 million for family offices, providing investment advisory services[43]. - The total assets as of December 31, 2021, amounted to SGD 28.331 million, with total liabilities of SGD 4.586 million, resulting in a net asset value of SGD 23.730 million[40]. Cost Management and Operational Efficiency - Employee costs decreased by 37.5% from SGD 6.8 million in 2020 to SGD 4.2 million in 2021, while other expenses reduced by 43.2% from SGD 3 million to SGD 1.7 million[14]. - The company reduced its operating expenses by approximately SGD 2.5 million, primarily due to a decrease in employee numbers[46]. - The group continues to focus on expanding its investment management and acquisition project management divisions while maintaining a cautious approach to business expansion[61]. - The group will continue to strengthen its cost control measures to mitigate the adverse effects of the pandemic and will monitor the situation for necessary operational and business strategy adjustments[84]. Market Trends and Strategic Focus - The private residential property prices in Singapore increased by 10.6% in 2021 compared to 2020, with a 5.0% rise in the fourth quarter alone[14]. - The group anticipates a slowdown in private residential price growth to around 3% in the following year due to new cooling measures implemented by the Singapore government[14]. - The Singapore economy grew by 7.2% for the full year 2021, with a 5.9% growth in the fourth quarter[80]. - The company aims to focus on high-profit projects that can quickly turn profitable in the Singapore real estate market[26]. - The company is shifting its focus from residential and industrial projects to government and international projects for better profitability[28]. - The group plans to expand its business footprint in the Asia-Pacific region, focusing on acquiring yield-generating assets in Australia due to favorable currency exchange rates[12]. Family Office and ESG Initiatives - The number of family offices in Singapore doubled to 400 in 2021 compared to the previous year[31]. - The company is leveraging its expertise in capital markets to expand its family office business, anticipating significant growth in the coming years[27]. - The company is expanding its family office management division, particularly in developing family offices in Southeast Asia[84]. - The company reported a strict adherence to ESG-related goals and maintained high standards in 2021[112]. - The board emphasized the integration of sustainability issues into strategic planning, identifying significant ESG factors relevant to organizational needs[110]. - The company aims to reduce greenhouse gas emissions by 5% from the 2020 baseline by the end of 2023 through energy-saving measures[124]. Employee Engagement and Workplace Culture - The company has implemented flexible work arrangements to improve employee satisfaction and productivity[139]. - The company emphasizes employee engagement through various initiatives, including annual town hall meetings[145]. - The HR department aims to digitize HR practices and utilize online payroll management platforms to reduce processing time[142]. - The company plans to introduce new retention methods and expand existing ones in 2022, focusing on attractive benefits to enhance employer branding[142]. - No complaints regarding discriminatory practices were reported during the reporting period, reflecting the company's commitment to diversity and inclusion[138]. Corporate Governance and Compliance - The board believes that the financial statements fairly reflect the group's financial position as of December 31, 2021[179]. - The company has a procurement policy requiring management approval for vendor selection and contract awards, ensuring compliance with budgetary constraints[167]. - The company emphasizes integrity in all business transactions and has policies in place to prevent fraud and corruption[173]. - The company adheres to local employment laws and international labor principles, ensuring no incidents of human rights violations or forced labor occurred during the reporting period[163].
杰地集团(08313) - 2021 - 年度财报