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Revenue had increased from S$2.11 million to S$2.17 million. The increase in revenue was mainly due to higher trading revenue and revenue from NGV related business by the Singapore subsidiaries.
The Group's profit margin had decreased from 34% to 31% mainly due to NGV related business.
The Group had a loss of S$0.39 million for the current financial period as compared to a profit of S$0.60 million for the previous financial period, mainly due to net other operating income of S$0.13 million for the current financial period as compared to net other operating income of S$0.88 million for the previous financial period. This was mainly due to the decrease in unrealised exchange gain arising from recorded monetary balances denominated in foreign currencies in the current financial period.
The Group's non-current assets had decreased from S$1.8 million as at 30 June 2017 to S$0.27 million as at 31 December 2017. The decrease was mainly due to development properties being recognised to current assets during the period.
The Group's current assets had increased from S$2.21 million as at 30 June 2017 to S$3.38 million as at 31 December 2017. The increase was mainly due to development properties offset by the decrease in cash and cash equivalents.
The Group's current liabilities remained materially unchanged.
The Group's non-current liabilities had increased from S$0.08 million to S$0.12 million mainly due to drawdown of finance lease in the current financial period.
The Group's cash and cash equivalents as at 31 December 2017 had decreased by S$0.56 million to S$0.73 million as compared to the balance of S$1.29 million as at 30 June 2017. The decrease was mainly due to repayment of loan and purchase of plant and equipment.
Management expects the operating business environment in the next 12 months to remain challenging, due to pricing pressure from customers and rising operational costs. However, management remains focused to enhance its operational efficiency and monitor its operating expenses in the face of economic uncertainties, to enhance the profitability of the Group's existing businesses.
Management remains cautious of unexpected economic upheavals in the global economy which may adversely affect the Company and will continue to focus on restructuring and consolidating its existing business, without any major capital expenditures.
Management expects the property development environment to be challenging due to stricter regulatory control of loans from the banks. However, the management will continue to seek opportunities to acquire new properties and carry out developments, to expand the new business segment which will subsequently generate revenue for the Group.