Financial Performance - For the fiscal year 2023, the company recorded revenue of SGD 93.6 million, a 10.9% increase from SGD 84.5 million in fiscal year 2022[36] - The net profit after tax for fiscal year 2023 remained at SGD 40.2 million, with earnings per share at SGD 0.0934 and net asset value per share increasing to SGD 0.5287[36] - The profit before tax from continuing operations was SGD 22.98 million, down from SGD 55.12 million in the previous year, indicating a decline of about 58.3%[95] - The company reported a profit before tax of SGD 44.289 million for the fiscal year 2023, a decrease of 16.4% compared to SGD 53.012 million in 2022[103] - Total profit for the year decreased by approximately SGD 7.3 million (or 15.3%) to about SGD 40.2 million in FY2023[141] Dividends and Shareholder Returns - The company proposed a final dividend of SGD 0.01 per ordinary share and a special dividend of SGD 0.01 per ordinary share, totaling a dividend of SGD 0.03 per share for fiscal year 2023[36] - The board has approved a new dividend policy, increasing the payout ratio to 30% of net income starting next fiscal year[76] Business Operations and Projects - The company completed 21 solar projects in Singapore by September 30, 2023, as part of its renewable energy initiatives[21] - The company aims to complete its first project at 55 Tuas South Avenue 1, a nine-story multi-user food processing development with 49 units, by the fiscal year 2024[20] - The company is actively involved in property development and investment, focusing on enhancing property value for sustainable long-term capital appreciation[3] - The company has successfully launched its flagship Coliwoo property at 2 Mount Elizabeth Link, which is the largest co-living residence in Orchard[59] - The company completed the acquisition of the property at 48 Arab Street and 404 Pasir Panjang, enhancing its property portfolio[59] Revenue Streams - The space optimization business contributed 64.5% of the total revenue for the fiscal year 2023, with a significant growth of 46.1% compared to fiscal year 2022[40] - The residential business, driven by the Coliwoo co-living concept, saw an 81.5% increase in revenue for fiscal year 2023[41] - The industrial segment generated revenue of SGD 25.19 million, while the commercial segment contributed SGD 5.91 million, reflecting a diversified revenue stream[98] - Revenue from residential properties surged by SGD 13.2 million (81.5%) to SGD 29.3 million in FY2023, driven by increased occupancy and rental rates in co-living spaces[123] Market Expansion and Strategy - The company aims to expand its market share internationally, especially in other ASEAN countries, aligning with its diversification and sustainable long-term growth goals[52] - The company plans to enhance its market presence by transitioning to the mainboard of the Singapore Exchange, which was approved by shareholders[116] - The company has set a target to expand its market presence in Southeast Asia, aiming for a 30% increase in market share by 2025[76] Sustainability Initiatives - The company has committed to achieving net-zero emissions as part of its sustainability strategy, implementing measures to reduce its carbon footprint through responsible resource consumption and renewable energy adoption[176] - Sustainability initiatives are being prioritized, with a commitment to reduce carbon emissions by 40% by 2030[76] - The company has actively promoted recycling and upcycling among employees and business partners, placing recycling bins in offices and properties to properly sort waste[180] Employee Engagement and Welfare - The company aims to create a fair, safe, and healthy workplace for employees, focusing on their commitment to employee welfare and professional development[186] - The company has implemented health and wellness programs for employees, including on-site health screenings and telemedicine services[189] Corporate Governance - The company is committed to maintaining good corporate governance practices while balancing environmental and social impacts[175] - The company has adopted the Hong Kong Corporate Governance Code as part of its corporate governance policy since December 29, 2017, in addition to complying with Singapore's corporate governance guidelines[198] Challenges and Risks - The company is actively monitoring macroeconomic and geopolitical risks to adjust its strategies in response to changing economic conditions[112] - The company anticipates that regulatory changes, such as increased buyer stamp duty, may suppress housing demand and boost rental willingness[111]
LHN(01730) - 2023 - 年度财报