Financial Performance - For the fiscal year ending December 31, 2023, the company reported total revenue of 11,020 thousand SGD, an increase of 7.8% compared to 10,221 thousand SGD in the previous year[5] - The gross profit for the year was 2,451 thousand SGD, representing a significant increase of 66.5% from 1,478 thousand SGD in the prior year[5] - The company recorded a net loss of 124 thousand SGD for the year, a substantial improvement compared to a net loss of 1,730 thousand SGD in the previous year[5] - The basic and diluted loss per share improved to 0.02 SGD from 0.24 SGD year-over-year[5] - Other income increased to 683 thousand SGD, compared to 393 thousand SGD in the previous year, marking a growth of 73.7%[5] - The group reported a loss of approximately 100,000 SGD for the year ending December 31, 2023, a decrease from a loss of approximately 1,700,000 SGD for the year ending December 31, 2022[52] Expenses and Liabilities - Administrative expenses rose to 3,315 thousand SGD, up from 3,184 thousand SGD, indicating a 4.1% increase year-over-year[5] - Total liabilities decreased from 1,598,000 to 1,423,000, a decline of about 10.9% year-over-year[6] - The company’s total expenses for 2023 were NT$9,959,000, compared to NT$9,935,000 in 2022, reflecting a marginal increase of 0.24%[25] - Financing costs increased by approximately 15,000 SGD or 28.6% to about 51,000 SGD for the year ending December 31, 2023, compared to approximately 36,000 SGD for the year ending December 31, 2022[50] Assets and Equity - Total assets decreased from 4,649,000 to 4,468,000, a decline of approximately 3.9% year-over-year[6] - Total equity decreased from 3,889,000 to 3,721,000, a decline of about 4.3% year-over-year[6] - The company reported a net asset value of 3,721,000, down from 3,889,000, reflecting a decrease of approximately 4.3%[6] - The total assets decreased to approximately S$5,900,000 in 2023 from about S$6,200,000 in 2022, while total equity decreased to approximately S$3,700,000 from about S$3,900,000[58] Revenue Segmentation - Revenue from Singapore was 8,556 thousand SGD in 2023, up from 7,677 thousand SGD in 2022, indicating a growth of about 11.4%[19] - Revenue from Vietnam was 2,246 thousand SGD in 2023, slightly decreasing from 2,331 thousand SGD in 2022, reflecting a decline of approximately 3.6%[19] - The group's revenue for the year 2023 was 11,020 thousand SGD, an increase from 10,221 thousand SGD in 2022, representing a growth of approximately 7.8%[16] Operational Outlook - Future outlook remains cautious, with a focus on improving operational efficiency and cost management[5] - The group aims to expand its workforce to provide high-quality and efficient services, while exploring other revenue sources through acquisitions of promising businesses or projects[42] - The group faces challenges from geopolitical and economic uncertainties, including inflationary pressures and labor shortages, which may impact profitability[41] Corporate Governance and Compliance - The company is committed to maintaining high standards of corporate governance, which is essential for protecting shareholder interests and enhancing corporate value[70] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023, and believes they comply with applicable accounting standards[76] - The announcement complies with GEM listing rules, ensuring transparency and accountability in the information provided[84] Employee and Workforce - As of December 31, 2023, the group had a total of 143 employees, a decrease from 155 employees in 2022[68] - Employee costs for the year amounted to approximately SGD 10,000,000, compared to SGD 9,900,000 in 2022, reflecting a slight increase[68] Investment and Future Plans - The company plans to enhance its information technology systems, including purchasing more software licenses to improve efficiency and meet regulatory requirements[67] - The company aims to expand operations in Vietnam, but plans to establish new offices in Da Nang and Ho Chi Minh City have been postponed due to economic slowdown since early 2020[67] - The expected timeline for utilizing the remaining net proceeds is based on the board's best estimates of business conditions and may be adjusted according to market conditions[66]
WMCH Global(08208) - 2023 - 年度业绩