Financial Performance - The unaudited revenue of RMH Holdings Limited for the six months ended 30 June 2023 was approximately S$1,309,000, representing a decrease of approximately S$637,000 or 32.7% compared to S$1,946,000 for the same period in 2022[11]. - The unaudited loss for the Group was approximately S$2,794,000 for the six months ended 30 June 2023, an increase of approximately S$2,154,000 or 43.5% compared to losses of S$4,948,000 for the same period in 2022[11]. - Loss per share was 0.20 Singapore cents for the six months ended 30 June 2023, compared to 0.37 Singapore cents for the same period in 2022[11]. - The Group incurred a loss before tax of S$2,794,000, an improvement from a loss of S$4,154,000 in the prior year, indicating a reduction in losses by approximately 32.8%[35]. - The total loss for the period was S$2,794,000, compared to S$4,948,000 in the previous year, indicating a reduction of 43%[39]. - Total comprehensive income for the period was a loss of S$2,661,000, compared to a loss of S$5,046,000 for the same period in 2022, indicating a 47.3% improvement[46]. - The loss for the period attributable to owners of the Company from continuing operations was S$2,699,000, a decrease of 35% compared to S$4,154,000 in the same period of 2022[39]. - The total comprehensive expense for the period attributable to owners of the Company from continuing operations was S$2,566,000, down from S$4,254,000, reflecting a 40% improvement[39]. Financial Position - The Group had net current liabilities of S$9,389,000 and net liabilities of S$8,612,000 as of 30 June 2023[14]. - The Group's cash and cash equivalent balance was S$77,000 as of 30 June 2023, indicating insufficient funds for immediate settlement of borrowings and financial guarantee liabilities[18]. - The Group's liquidity and financial position are under significant uncertainty, with multiple factors affecting its ability to continue as a going concern[21]. - The Group's financial position raises concerns regarding its ability to continue as a going concern due to significant liabilities and insufficient cash[14]. - The Group's financial statements have not been audited, and a disclaimer of opinion was issued due to the uncertainties surrounding the going concern basis[27]. - As of June 30, 2023, the Group's current liabilities exceeded its current assets by S$9,389,000[58]. - The Group's cash and cash equivalents were approximately S$77,000, indicating insufficient liquidity to settle outstanding balances upon immediate repayment[58]. - The net liabilities increased to S$8,612,000 from S$6,296,000, indicating a 37% increase[43]. - The total deficit of the Group was approximately S$8,612,000, an increase from approximately S$6,296,000 as of December 31, 2022[196]. - The gearing ratio of the Group as of June 30, 2023, was approximately 213.0%, a decrease from 296.9% as of December 31, 2022[197]. Operational Changes - The losses were mainly attributed to other operating expenses and employee benefits expense[11]. - The Group is exploring new business segments to improve operations and generate sufficient operating cash inflow[21]. - The Group will improve operational efficiency by expanding into new segments and reducing operating costs[63]. - The Group's revenue decline was primarily due to significant business restructuring and the inability of its Singapore subsidiaries to pay their debts, leading to liquidation and judicial management proceedings[148]. - The Company has developed a two-year business development plan to enhance its dental services, reflecting a proactive approach to market expansion[152]. Cash Flow and Investments - Cash used in operating activities was S$1,189,000, a significant decrease from S$3,706,000 in the first half of 2022, reflecting a 67.9% improvement[46]. - Cash from investing activities was S$1,134,000, a recovery from cash used of S$2,406,000 in the previous year[49]. - The company issued new shares, raising S$7,469,000, while incurring transaction costs of S$277,000 related to the share placement[49]. - The company acquired plant and equipment amounting to approximately S$397,000 for the six months ended 30 June 2023, a decrease of 36.5% from S$626,000 in the same period of 2022[12][98]. Shareholder Returns - The Board did not recommend the payment of an interim dividend for the six months ended 30 June 2023[11]. - The Board did not recommend any interim dividend for the six months ended June 30, 2023, consistent with the previous period[193]. Compliance and Standards - The Group has adopted all new and revised IFRSs relevant to its operations effective from January 1, 2023, with no material impact on financial statements[69]. - The company adopted new and revised international financial reporting standards effective from January 1, 2023, with no significant impact on the financial statements[74]. - The management anticipates that the adoption of upcoming international financial reporting standards will not have a significant impact on the financial statements during the initial adoption period[74]. Related Party Transactions - The amount due to a related party as of 30 June 2023 was S$2,474,000, slightly down from S$2,493,000 as of 31 December 2022[143]. - Other payables included S$4,768,000 due to Singapore Liquidated Subsidiaries, unchanged from December 31, 2022, with an outstanding balance of S$6,600,000 under negotiation for settlement[121]. Employee and Management Information - The total employee benefits expense for the six months ended June 30, 2023, was S$1,449,000, a decrease from S$1,569,000 in the same period of 2022, primarily due to changes in staffing[175][176]. - The total staff count (excluding directors) decreased from 75 in 2022 to 32 in 2023[178]. - Key management personnel compensation details were disclosed, reflecting the company's commitment to transparency in executive remuneration[141].
德斯控股(08437) - 2023 - 中期业绩