Financial Performance - Revenue increased by 21.4% from SGD 12.0 million in the Previous Year to SGD 14.6 million in the Relevant Year as COVID-19 restrictions were fully lifted[20] - Gross profit increased by 63.0% from SGD 2.8 million in the Previous Year to SGD 4.5 million in the Relevant Year due to constant adjustments in selling prices[20] - Profit increased by 150.0% from SGD 260,000 in the Previous Year to SGD 650,000 in the Relevant Year[20] - Revenue for the Relevant Year was $14.6 million, representing an increase of $2.6 million or 21.4% compared to the Previous Year revenue of $12.0 million[37] - Revenue from external customers for tissue products was $13.0 million, with segment profit of $3.9 million[52] - Annual revenue increased to $14.6 million, up $2.6 million or 21.4% from the previous year[54] - Sales of tissue products rose by $2.4 million, representing a 23.0% increase due to normal commercial activities without COVID-19 restrictions[55] - Gross profit increased from $2.8 million to $4.5 million, with gross profit margin rising from 23.1% to 31.1%, an increase of 800 basis points[57] - Profit attributable to owners increased to $650,000 from $260,000 in the previous year[61] - Total assets at the end of the year were $20.3 million, financed by total liabilities of $3.5 million and shareholders' equity of $16.8 million[69] Operational Developments - The company upgraded its conversion line for the production of jumbo roll tissues during the Relevant Year[19] - The conversion line for the production of jumbo roll tissues has been upgraded, and commercial production has commenced[96][100] - The extension of the existing factory building has been completed, and lifting equipment has been purchased[100][101] - The company has unutilized banking facilities of $3.5 million on standby to support operations[51] - The company continues to monitor operating costs and administration expenses closely[51] Market Conditions - The absence of COVID-19 restrictions in the Relevant Year led to a normal level of commercial activities, resulting in increased customer orders for tissue products[18] - There were no COVID-19 restrictions imposed during the Relevant Year, leading to normal commercial activities and increased orders for tissue products[35] Employee and Governance - All employees are vaccinated against COVID-19, and the company adheres strictly to government directives on COVID-19 precautions[51] - The management team has extensive experience, with key executives averaging over 30 years in their respective fields, ensuring strong leadership[128][130] - Financial oversight is managed by a seasoned CFO with 35 years of experience in audit and corporate finance, ensuring sound financial management[128] Sustainability and ESG Initiatives - The company is committed to sustainability, with ongoing efforts to improve environmental practices in production processes[138] - The company integrates environmental and social considerations into its business objectives to achieve specific environmental and social goals[166] - Environmental goals include adding environmentally friendly elements in daily operations, using energy and resources efficiently, reducing greenhouse gas emissions, and improving waste management[166] - Social goals focus on respecting employees' rights, promoting an equal opportunity workplace, ensuring occupational safety and health, and supporting community participation[166] - A dedicated team has been established to develop and monitor environmental and social policies, ensuring proper assessment and management of ESG matters[168] - The company maintains open communication with stakeholders to understand the impact of business decisions on them[169] - Key Performance Indicators (KPIs) are disclosed to measure actual results and ensure effective ESG risk management[172] - The Board oversees ESG issues and evaluates material risks posed to the Group, neutralizing identified risks[150] - The company commits to ethical business practices and building integrity within the workplace[166] - Regular updates on KPI targets and progress towards environmental and social goals are provided to the Board[154] - The company aims for sustainability of ESG aspects as a core commitment to long-term value creation for stakeholders[159] Environmental Impact - The company does not produce hazardous waste as part of its operations[189] - The company has implemented green office measures, adopting the 3R concept of "reduce, reuse and recycle" to enhance environmental awareness among employees[195] - The company monitors electricity consumption in kWh instead of GHG emissions, as it has no control over the source of electricity generation in Singapore[187] - The company does not set efficiency targets for water consumption, which is minimal and supplied by the government[197] - Water consumption data is unavailable due to a malfunctioning water meter, with the previous year's consumption recorded at 1,021 m³[200] - Electricity consumption increased to 118,000 kWh from 65,000 kWh in the previous year, representing an increase of approximately 81.54%[200] - Diesel consumption decreased to 33,405 liters from 34,482 liters, showing a reduction of about 3.13%[200] - Diesel consumption per 1,000 delivery orders improved to 1,776 liters from 1,916 liters, a decrease of approximately 7.29%[200] - Diesel consumption per 1,000 units delivered improved to 61 liters from 74 liters, a decrease of about 17.57%[200] - The company has achieved its environmental goals for the relevant year[199] - The company engages with stakeholders to identify material ESG issues, with no significant issues arising during the Relevant Year[176]
日光控股(08451) - 2023 - 年度财报