Financial Performance - The company's revenue increased by approximately 35.8% from about SGD 32.6 million in the previous year to approximately SGD 44.3 million for the year ended December 31, 2023[9]. - The company reported a significant increase in revenue, achieving a total of $X million for the fiscal year, representing a Y% growth compared to the previous year[22]. - For the fiscal year ending December 31, 2023, the company recorded revenue of approximately SGD 44.3 million, an increase of about 35.8% compared to SGD 32.6 million in 2022[35]. - The company achieved a gross profit of approximately SGD 11.4 million for the fiscal year 2023, with a gross profit margin rising from 24.8% in 2022 to 25.8% in 2023[37]. - The company reported a net profit of approximately SGD 1.0 million for the fiscal year 2023, compared to a profit of SGD 0.3 million in 2022[41]. - Direct costs for the fiscal year 2023 were approximately SGD 32.9 million, reflecting an increase of about 34.0% from SGD 24.6 million in 2022, consistent with revenue growth[36]. - Administrative expenses for the fiscal year 2023 amounted to approximately SGD 9.6 million, an increase from SGD 7.1 million in 2022, primarily due to higher salaries and employee benefits[40]. - Other income for the fiscal year 2023 was approximately SGD 0.06 million, compared to a loss of SGD 0.01 million in 2022, primarily from government subsidies[39]. Projects and Operations - As of December 31, 2023, the company has eleven ongoing projects[10]. - As of December 31, 2023, the company held 11 ongoing contracts with a total uncompleted contract value of approximately SGD 98.1 million, up from SGD 96.3 million in 2022[34]. - The company is expanding its market presence in D regions, aiming to capture a larger share of the market[22]. - Recent acquisitions are expected to enhance the company's capabilities and drive future growth, with an estimated contribution of E million in revenue[22]. - The group reported construction revenue of approximately 29,958,000 SGD from general building and civil engineering projects for the year ended December 31, 2023[197]. Strategic Initiatives - The company provided guidance for the next fiscal year, projecting revenue growth of A% and an expected EBITDA margin of B%[22]. - New product launches are anticipated to contribute an additional C million in revenue, with a focus on innovative technology solutions[22]. - The company is investing in R&D, allocating F% of its budget to develop new technologies and improve existing products[22]. - Operational efficiency initiatives are projected to reduce costs by G%, enhancing overall profitability[22]. - The company is exploring strategic partnerships to leverage synergies and enhance competitive positioning in the market[22]. Sustainability and Governance - The company emphasizes the importance of Environmental, Social, and Governance (ESG) matters for sustainable development, integrating ESG principles into daily operations[11]. - The management team emphasized a commitment to sustainability, with plans to implement eco-friendly practices across operations[22]. - The group is committed to promoting environmental and social sustainability and complies with all relevant laws and regulations[134]. - The company has established multiple communication channels with its shareholders and investors, including announcements on its website[124]. Board and Management - The board consists of six members, with three executive directors and three independent non-executive directors[74]. - The chairman and CEO roles are held by the same individual to ensure unified leadership and effective strategic planning[72]. - The board held four regular meetings and five ad-hoc meetings during the fiscal year ending December 31, 2023[82]. - The board consists of five male directors and one female director, meeting the minimum requirement of GEM Listing Rule 17.104[89]. - The company aims to maintain at least one female director over the next four years to enhance board diversity[89]. Risk Management - The company emphasizes the importance of risk management practices to mitigate operational and financial risks effectively[130]. - The board believes that the risk management and internal control systems of the group are adequate and effective for the reporting year[110]. - The group faces risks related to cash flow due to potential delays in collecting receivables or warranty payments[135]. - The group is actively managing credit risk by adopting policies for high credit quality counterparties to minimize credit risk exposure[69]. Shareholder Information - The company has a total of 204,800,000 shares held by Mr. Wu and Ms. Chen, representing 51.2% of the issued share capital[166]. - Amber Capital Holdings Limited, controlled by Mr. Wu and Ms. Chen, holds 204,800,000 shares, accounting for 61% of the company's issued share capital[166]. - The company has not recommended the payment of a final dividend for the reporting year[140]. - The annual general meeting is scheduled for June 28, 2024, with a suspension of share transfer registration from June 25 to June 28, 2024[191].
靛蓝星(08373) - 2023 - 年度财报