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靛蓝星(08373) - 2022 - 年度财报
INDIGO STARINDIGO STAR(HK:08373)2023-03-31 14:20

Revenue Growth - The company's revenue increased by approximately 103.8% from about SGD 16.0 million in the previous year to approximately SGD 32.6 million for the year ended December 31, 2022[10]. - The increase in revenue was primarily due to the completion of ongoing contracts, the addition of three new projects during the year, and sales of tiles[10]. - For the fiscal year ending December 31, 2022, the company recorded revenue of approximately SGD 32.6 million, an increase of about 103.8% compared to SGD 16.0 million in the previous year[43]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[19]. - The group recognized construction revenue of approximately SGD 16,196,000 from general building and civil engineering projects for the year ended December 31, 2022[195]. Profitability and Costs - The company reported direct costs of approximately SGD 24.6 million for the fiscal year, an increase of about 81.5% from SGD 13.6 million in the previous year, consistent with the revenue increase[44]. - Gross profit for the fiscal year was approximately SGD 8.1 million, with a gross margin rising from about 15.6% in the previous year to 24.8% in the current year[46]. - The company reported a net profit of approximately SGD 0.3 million for the fiscal year, recovering from a loss of SGD 3.7 million in the previous year[49]. - Administrative expenses increased to approximately SGD 7.1 million, up from SGD 4.4 million in the previous year, primarily due to higher salaries and employee benefits[48]. - The company has reported a decrease in operational costs by J%, resulting in improved profit margins for the fiscal year[27]. Projects and Contracts - As of December 31, 2022, the company had six ongoing projects[11]. - As of December 31, 2022, the company had six ongoing contracts with a total uncompleted contract value of approximately SGD 96.3 million, up from SGD 19.8 million in the previous year[42]. - The company plans to continue identifying general contractor and subcontractor projects to seize potential opportunities in Singapore[71]. Strategic Initiatives - The company will continue to prudently assess potential costs and seek suitable projects for general contracting and subcontracting to diversify its business and enhance shareholder returns[12]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified in the H sector[25]. - Market expansion efforts are underway, with plans to enter F new regions by the end of the fiscal year, targeting a G% market share in those areas[24]. - New product launches are anticipated to contribute an additional C million in revenue, with a focus on expanding the product line in the D market[22]. - The company is investing in new technology development, allocating E million towards R&D initiatives aimed at enhancing operational efficiency[23]. Shareholder Returns and Dividends - The board emphasizes the importance of Environmental, Social, and Governance (ESG) matters for the company's sustainable development[12]. - The board of directors has approved a dividend payout of K cents per share, reflecting the company's strong financial performance and commitment to returning value to shareholders[28]. - The company did not recommend the payment of a final dividend for the reporting year[141]. - As of December 31, 2022, there were no reserves available for distribution to shareholders[147]. Governance and Compliance - The company has adhered to the corporate governance code as per GEM listing rules, with a review of the roles of the chairman and CEO ongoing[74]. - The board consists of seven directors, including four executive directors and three independent non-executive directors[76]. - The company has implemented internal control procedures covering various key areas to ensure compliance with applicable laws and regulations[112]. - The board is responsible for monitoring and supervising the company's risk management and internal control systems[113]. - The company received confirmation letters from each independent non-executive director regarding their independence[159]. Workforce and Employment - The company employed a total of 605 full-time employees as of December 31, 2022, an increase from 399 in the previous year, with total employee benefit expenses amounting to approximately SGD 14.5 million[61]. - The company has a workforce comprising 96.3% male employees and 3.7% female employees as of December 31, 2022[94]. - The company aims to maintain at least one female director over the next four years to enhance board diversity[92]. Risks and Challenges - The group has faced risks related to cash flow due to potential delays in receiving payments from clients[137]. - The group’s operational performance may be impacted by government policies affecting foreign workers, which constitute a significant portion of its workforce[137]. - The group's revenue and profitability are significantly affected by fluctuations in material and subcontracting costs[133]. Financial Position - The company's current ratio as of December 31, 2022, was 1.5, unchanged from the previous year, with net current assets of approximately SGD 6.6 million[50]. - As of December 31, 2022, the company's debt ratio was approximately 30.1%, a decrease from 40.3% in the previous year, mainly due to the repayment of bank loans[50]. - The group reported contract assets and contract liabilities of SGD 4,742,000 and SGD 3,466,000, respectively, as of December 31, 2022[195]. Client and Supplier Relationships - The group primarily derives its revenue from contracts with five major clients, indicating a reliance on a limited customer base[133]. - The top five customers generated approximately 18.1 million SGD in revenue, accounting for about 55% of total revenue[175]. - The largest customer contributed approximately 5.1 million SGD, or 16% of total revenue for the reporting year[175]. - The top five suppliers had a total procurement amount of approximately 6.5 million SGD, representing about 45.6% of total procurement[175].