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Financials Factsheets

Condensed interim financial statements For the six months and full year ended 30 June 2021

Financials Archive

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Profit & Loss

Profit & Loss FY2021

Balance Sheet

Balance Sheet FY2021

Review of Performance

Statement Of Comprehensive Income

Revenue

The Group's revenue decreased from S$3.96 million for the financial year ended 30 June 2020 ("FY 2020") to S$3.83 million for the financial year ended 30 June 2021 ("FY 2021"). The decrease in revenue was due to lower revenue generated from NGV related business, partially offset by an increase in revenue generated from manufacturing and trading business, by the Singapore subsidiaries.

Gross Profit Margin

The Group's gross profit margin decreased from 33% to 31%, mainly due to NGV related business contributing a lower gross profit margin to the Group.

(Loss)/profit for the Year

The Group had a loss of S$0.61 million for FY 2021 as compared to a profit of S$0.35 million for FY 2020. This was mainly due to unrealised exchange loss arising from recorded monetary balances denominated in foreign currencies in the current financial year, as compared to unrealised exchange gain, gain on disposal of plant and equipment, waiver of directors' remuneration and write-off of payables due to strike off of subsidiary in the last financial year.

Excluding these items, the Group will have a loss of S$0.19 million for FY2021 as compared to a loss of S$0.52 million for FY2020.

Balance Sheet

Non-current assets

The Group's non-current assets decreased from S$0.76 million as at 30 June 2020 to S$0.59 million as at 30 June 2021. The decrease was mainly due to disposal of one investment property during the year.

Current assets

The Group's current assets increased from S$3.04 million as at 30 June 2020 to S$3.45 million as at 30 June 2021. The increase was mainly due to increase in trade and other receivable and cash and bank balances.

Current liabilities

The Group's current liabilities decreased from S$1.98 million as at 30 June 2020 to S$1.45 million as at 30 June 2021. The decrease was mainly due to debt capitalisation of prior year directors' remuneration and loan from director and waiver of current year directors' remuneration.

Non-current liabilities

The Group's non-current liabilities had increased S$0.02 million as at 30 June 2021, as compared to 30 June 2020. The increase was mainly due to obligations under a new finance lease.

Cash Flow Statement

The Group's cash and cash equivalents as at 30 June 2021 increased by S$0.18 million to S$0.64 million as compared to the balance of S$0.46 million as at 30 June 2020. The increase was mainly due to net cash generated from operating and investing activities, partially offset by net cash used in financing activities.

Commentary

Management expects the operating business environment in the next 12 months to remain challenging due to global economic uncertainties as a result of the impact of the COVID-19 outbreak.

Despite the challenging market condition in which the businesses operate, the Group continues its focus on operational efficiency, cost control, cash conservation and ensuring sustainability of its existing businesses.


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