Financial Performance - Revenue for the nine months ended September 30, 2023, increased to SGD 6,887,000, representing a growth of 133.6% compared to SGD 2,949,000 for the same period in 2022[10] - The pre-tax profit for the nine months was SGD 2,032,000, a significant improvement from a loss of SGD 1,002,000 in the previous year[10] - Basic and diluted earnings per share for the nine months were approximately SGD 0.08, compared to a loss of SGD 0.05 for the same period in 2022[13] - Revenue for the three months ended September 30, 2023, was SGD 1,582,000, an increase of 64.5% compared to SGD 961,000 in the same period of 2022[14] - The company reported a profit attributable to owners of SGD 237,000 for the three months ended September 30, 2023, compared to a loss of SGD 469,000 in the same period of 2022[16] - For the nine months ended September 30, 2023, the profit attributable to owners was SGD 1,675,000, a significant recovery from a loss of SGD 1,002,000 in the same period of 2022[16] - The company reported a net profit of SGD 1.68 million for the nine months ended September 30, 2023, compared to a net loss of SGD 1.00 million in the previous year, representing an increase of SGD 2.68 million or 268% YoY[43] Revenue Breakdown - The increase in revenue was attributed to project management fees of SGD 3,380,000 from two completed development projects and an increase in dividend income of approximately SGD 2,030,000[13] - Revenue from investment management services in Singapore was SGD 6,413,000 for the nine months ended September 30, 2023, up 156.5% from SGD 2,503,000 in the same period of 2022[28] - The revenue from project management services increased to SGD 3,498,000 for the nine months ended September 30, 2023, compared to SGD 1,294,000 in the same period of 2022, reflecting a growth of 170.5%[30] - The revenue from fund management fees was SGD 3,007,000 for the nine months ended September 30, 2023, compared to SGD 1,071,000 in the same period of 2022, marking an increase of 180.5%[32] - The investment management segment's revenue decreased from SGD 0.56 million to SGD 0.35 million, a decline of 37.5% due to reduced dividend income from special purpose entity investments[48] - The acquisition and project management revenue rose from SGD 1.29 million to SGD 3.50 million, an increase of SGD 2.21 million or 171.3% due to project management fees received after the completion of development projects[50] Assets and Liabilities - Total assets as of September 30, 2023, were SGD 31,272,000, an increase from SGD 27,454,000 in the previous year[10] - Total liabilities increased to SGD 8,632,000 from SGD 6,501,000 year-on-year[10] - Net assets as of September 30, 2023, were SGD 22,640,000, compared to SGD 20,953,000 in the previous year[10] - The company’s total equity as of September 30, 2023, was SGD 22,640,000, an increase from SGD 20,953,000 as of the beginning of the year[18] - The company's debt-to-equity ratio improved to 9.0% from 13.3% in the previous year[66] Employee Costs - Employee costs rose to SGD 3,810,000, an increase of 29.2% from SGD 2,950,000 in the previous year, primarily due to improved performance and discretionary bonuses[13] - The company experienced a decrease in employee costs to SGD 979,000 for the three months ended September 30, 2023, from SGD 950,000 in the same period of 2022[14] Future Plans and Strategies - The company plans to continue focusing on project management and fund management to drive future growth[13] - The company is focusing on expanding its fund structures and project management services across Singapore and Australia[40] - The company continues to monitor the business environment post-COVID-19 and may consider resuming financial advisory services if conditions improve[52] - The company is actively exploring opportunistic assets outside Singapore, particularly in the Australian real estate market[89] Shareholder Information - As of September 30, 2023, Mr. Yao and Ms. Shen each hold 1,298,600,000 ordinary shares, representing 64.93% of the total issued shares of the company[100] - ZACD Investments Pte. Ltd. is recognized as the beneficial owner of 1,298,600,000 ordinary shares, also accounting for 64.93% of the total issued shares[100] - The company has issued a convertible loan agreement to ZACD (Neew) Pte. Ltd. for an amount of SGD 2,000,000, convertible into up to 19.40% of the expanded issued share capital[98] Legal and Compliance - Legal costs related to actions against iProsperity Group amounted to SGD 1,754,000 as of September 30, 2023, up from SGD 1,292,000 as of December 31, 2022[75] - The company has adopted a securities trading code of conduct for directors, ensuring compliance with the required trading standards[99] - The company continues to monitor and comply with the GEM Listing Rules regarding the disclosure of interests and short positions[99] Market Performance - The industrial real estate market in Singapore remains resilient due to tight supply and low vacancy rates, with the company planning to supplement its land reserves[88] - The residential project Landmark has achieved over 81% sales, with 320 units sold as of October 10, 2023[87] - The Altura Executive Condominium project launched in August 2023 sold 61% of its units on the first day of sales[87] - The company plans to launch two additional residential projects, La Ville and Mount Emily, expected to start sales in Q4 2023 or early 2024[88]
杰地集团(08313) - 2023 Q3 - 季度财报