Financial Performance - The group's unaudited revenue decreased by 53.7% to approximately SGD 461,000 for the three months ended March 31, 2022, compared to SGD 995,000 for the same period in 2021[11]. - The net loss for the review period increased by 78.8% to approximately SGD 760,000, compared to a net loss of SGD 425,000 in the previous period[11]. - Basic and diluted loss per share for the review period was approximately 0.04 Singapore cents, compared to a loss of 0.02 Singapore cents in the previous period[11]. - Total comprehensive income for the three months ended March 31, 2022, was a loss of SGD 760,000 compared to a loss of SGD 723,000 for the same period in 2021, indicating a slight increase in losses[17]. - The total comprehensive loss attributable to equity holders for the three months ended March 31, 2022, was SGD 683,000, compared to a loss of SGD 425,000 in the previous year, reflecting a 60.6% increase in losses[17]. - The company reported a pre-tax loss of SGD 760,000 for the three months ended March 31, 2022, compared to a loss of SGD 425,000 in the same period last year[53]. - Total revenue for the three months ended March 31, 2022, was SGD 461,000, compared to SGD 995,000 for the same period in 2021, representing a decrease of 53.7%[46]. - The investment management segment's unreviewed revenue decreased from approximately SGD 475,000 to approximately SGD 169,000, a reduction of approximately SGD 306,000 or 64.4%[69]. - Fund management revenue increased by approximately SGD 80,000 or 42.1% from approximately SGD 190,000 to approximately SGD 270,000, attributed to services provided to family office clients[71]. - Project management revenue decreased by approximately SGD 205,000 or 94.5% from approximately SGD 217,000 to approximately SGD 12,000, primarily due to reduced project management fees[72]. Employee and Operational Costs - Total employee costs reduced by 19.1% from approximately SGD 1.2 million to SGD 997,000, with the number of employees decreasing from 50 to 32[11]. - The company continues to simplify operations to control costs in response to the COVID-19 pandemic[11]. - Other expenses increased by approximately SGD 40,000 or 11.9% from approximately SGD 335,000 to approximately SGD 375,000, mainly due to short-term rental costs for the Singapore office[82]. Dividends and Shareholder Information - The group did not declare any dividends for the three months ended March 31, 2022, consistent with the previous period[11]. - The company did not purchase, sell, or redeem any of its listed securities during the three months ended March 31, 2022[132]. - Mr. Yao and Ms. Shen hold 51% and 49% of the issued share capital of ZACD Investments, respectively[122]. - ZACD Investments provided a convertible loan of SGD 300,000 to ZACD (Neew2) Pte. Ltd., convertible into up to 7.00% of the enlarged issued share capital[122]. - ZACD Investments provided a convertible loan of SGD 3,830,000 to ZACD (Jurong) Pte. Ltd., convertible into up to 17.10% of the enlarged issued share capital[123]. - As of March 31, 2022, Mr. Yao and Ms. Shen are deemed to have interests in all shares held by ZACD Investments in ZACD Development Sdn. Bhd.[124]. - Mr. Yao and Ms. Shen are recognized as having a controlling interest in ZACD Investments, which holds 1,298,600,000 shares, representing 64.93% of the total issued share capital[128]. - Rachman Sastra holds 175,350,000 shares, representing 8.77% of the total issued share capital[128]. - Harmonious Tidings Limited holds 125,600,000 shares, representing 6.28% of the total issued share capital[128]. Impairments and Losses - The group recognized a financial advisory fee impairment loss of approximately SGD 177,000 during the review period[11]. - The group recorded an impairment loss of approximately SGD 177,000 related to trade receivables from financial advisory fees[81]. - The company experienced a foreign exchange loss of SGD 26,000 related to overseas operations during the reporting period[17]. - Fair value changes in equity securities investments resulted in a loss of SGD 232,000 for the three months ended March 31, 2022[17]. Future Outlook and Strategic Initiatives - The group aims to enhance operational efficiency and explore new market opportunities moving forward[11]. - The company is focused on expanding its investment structures, which include 29 private equity and fund structures across 28 real estate projects in Singapore, Malaysia, Indonesia, and Australia[57]. - The company aims to streamline existing operations to focus on core revenue sources and will continue to identify growth opportunities in Singapore and surrounding areas[100]. - The local real estate development opportunities in Singapore are expected to rise post-COVID-19 pandemic, leveraging the company's local expertise[100]. - The company observes growth prospects in the family office management sector, particularly in Southeast Asia, as Singapore strengthens its family office ecosystem[100]. - The collective sale of La Ville, a freehold residential development in Tanjong Rhu, is on track for completion by the end of June 2022[103]. - A new development fund is being established to participate in a new executive condominium project in Bukit Batok West, which is expected to attract first-time homebuyers and government housing upgrade seekers[103]. - The performance of Foodfab@Mandai, a freehold industrial project acquired by Mandai Fund, has been strong since its launch in March 2021, with continued optimism for 2022 due to robust demand for food factories and food delivery services[103]. Governance and Management - The audit committee consists of three independent non-executive directors and has reviewed the group's performance for the first quarter ended March 31, 2022[136]. - The board of directors includes five executive directors and three independent non-executive directors as of the report date[137].
杰地集团(08313) - 2022 Q1 - 季度财报