Financial Summary/Highlights
5 Year Financial Summary
Consolidated Statement of Comprehensive Income
| FY'19 | FY'20 | FY'21 | FY'22 | FY'23 | |
|---|---|---|---|---|---|
| Revenue | 191,792 | 189,945 | 188,617 | 215,890 | 224,842 |
| Total Profit for the Year | 75,699 | 12,184 | 14,457 | 136,040 | 124,765 |
| Profit Attributed to Equity Holders of the Company | 58,402 | 24,731 | 662 | 67,923 | 98,566 |
Balance Sheet – Group (S$’000)
| FY'19 | FY'20 | FY'21 | FY'22 | FY'23 | |
|---|---|---|---|---|---|
| Investment Properties | 578,536 | 746,508 | 877,446 | 25,796 | 166,563 |
| Property, Plant and Equipment | 33,317 | 33,227 | 32,541 | 30,954 | 29,784 |
| Development Properties | 114,869 | 210,909 | 196,297 | 171,364 | 134,794 |
| Cash and Cash Equivalents | 108,619 | 105,096 | 53,430 | 38,525 | 107,316 |
| Other Assets | 176,863 | 188,110 | 208,697 | 128,844 | 535,318 |
| Assets of Disposal Group Classified as Held-for-Sale | - | - | - | 996,697 | - |
| Total Assets | 1,012,204 | 1,283,850 | 1,368,411 | 1,368,411 | 973,775 |
| Equity Attributable to Equity Holders of the Company | 433,353 | 454,480 | 449,091 | 490,036 | 606,138 |
| Financial Liabilities | 278,699 | 549,759 | 605,532 | 103,848 | 198,864 |
| Non-Controlling Interests and other Liabilities | 300,152 | 279,611 | 313,788 | 325,901 | 168,773 |
| Liabilities directly associated with Disposal Group Classified as Held-for-Sale | - | - | - | 472,395 | - |
| Total Equity and Liabilities | 1,012,204 | 1,283,850 | 1,368,411 | 1,368,411 | 973,775 |
Financial Ratios
| FY'19 | FY'20 | FY'21 | FY'22 | FY'23 | |
|---|---|---|---|---|---|
| Earnings per Share (cent) | 6.35 | 2.69 | 0.07 | 7.39 | 10.72 |
| Net Asset Value per Share ($) | 0.47 | 0.49 | 0.49 | 0.53 | 0.66 |
| Return on Equity (%) | 13.48 | 5.44 | 0.15 | 13.86 | 16.26 |
| Dividend Paid ($'000) | 7,354 | 4,596 | 4,596 | 4,596 | 5,515 |
| Dividend per Share (cent) | 0.80 | 0.50 | 0.50 | 0.50 | 0.60 |
| Dividend Payout Ratio | 12.6% | 18.6% | 694.3% | 6.8% | 5.6% |
Group Financial Statements
Consolidated Statement of Comprehensive Income ($’000)
| FY'19 | FY'20 | FY'21 | FY'22 | FY'23 | |
|---|---|---|---|---|---|
| Continuing operations | |||||
| Revenue | 191,792 | 189,945 | 188,617 | 215,890 | 224,842 |
| Cost of Sales | (121,766) | (144,547) | (183,024) | (190,535) | (171,241) |
| Gross Profit | 70,026 | 45,398 | 5,593 | 25,355 | 53,601 |
| Other Income | 8,966 | 17,065 | 12,212 | 12,654 | 6,313 |
| Other Gains and Losses | 20,698 | (21,408) | (31,948) | (32,283) | 15,938 |
| Operating Expenses | (23,104) | (21,442) | (23,868) | (26,541) | (26,514) |
| Share of Profit of Associates | 20,994 | 11,133 | 2,546 | 531 | 126,390 |
| EBITDA | 97,580 | 30,746 | (35,465) | (20,284) | 175,728 |
| Depreciation Expense | (1,023) | (1,935) | (1,757) | (1,822) | (2,091) |
| EBIT | 96,557 | 28,811 | (37,222) | (22,106) | 173,637 |
| Finance Expenses | (10,052) | (14,050) | (365) | (2,995) | (4,539) |
| Profit Before Income Tax | 86,505 | 14,761 | (37,587) | (25,101) | 169,098 |
| Income Tax Expense | (10,806) | (2,577) | (5,287) | (3,067) | (8,860) |
| Profit/(loss) from continuing operations for the Year | 75,699 | 12,184 | (42,874) | (28,168) | 160,238 |
| Discontinued operations | |||||
| Profit from Discontinued operations | - | - | 57,331 | 164,208 | (35,473) |
| Total Profit for the Year | 75,699 | 12,184 | 14,457 | 136,040 | 124,765 |
| Profit/Loss Attributed to: | |||||
| Non-controlling interest | 17,297 | (12,547) | 13,795 | 68,117 | 26,199 |
| Equity Holders of the Company | 58,402 | 24,731 | 662 | 67,923 | 98,566 |
| Profit attributed to equity holders of the Company relates to: | |||||
| Profit from continuing operations | 58,402 | 24,731 | (39,954) | (33,407) | 132,825 |
| Profit from discontinued operations | - | - | 40,616 | 101,330 | (34,259) |
| Other Comprehensive Income/(loss), Net of Tax | 539 | 3,001 | (1,606) | (36,347) | 36,798 |
| Total Comprehensive Income | 76,238 | 15,185 | 12,851 | 99,693 | 161,563 |
| Total Comprehensive Income/(loss), Attributed to: | |||||
| Non-controlling Interest | 22,956 | (12,377) | 13,644 | 54,152 | 40,865 |
| Equity Holders of the Company | 53,282 | 27,562 | (793) | 45,541 | 120,698 |
Balance Sheet
| FY'19 | FY'20 | FY'21 | FY'22 | FY'23 | |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Development Properties | 114,869 | 210,909 | 196,297 | 168,818 | 134,794 |
| Cash and Cash Equivalents | 108,619 | 105,096 | 53,430 | 38,525 | 107,316 |
| Receivables | 98,597 | 127,947 | 143,902 | 86,752 | 125,152 |
| 322,085 | 443,952 | 393,629 | 294,095 | 367,262 | |
| Assets of disposal group classified as held for sale | - | - | - | 996,697 | - |
| Total Current Assets | 322,085 | 443,952 | 393,629 | 1,290,792 | 367,262 |
| Non-Current Assets | |||||
| Property, Plant and Equipment | 33,317 | 33,227 | 32,541 | 30,954 | 29,784 |
| Investment Properties | 578,536 | 746,508 | 877,446 | 25,796 | 166,563 |
| Deferred Tax Assets | 4,102 | 4,556 | 1,568 | 3,274 | 972 |
| Receivables | 74,164 | 55,607 | 63,227 | 41,364 | 409,194 |
| Total Non Current Assets | 690,119 | 839,898 | 974,782 | 101,388 | 606,513 |
| Total Assets | 1,012,204 | 1,283,850 | 1,368,411 | 1,392,180 | 973,775 |
| Liabilities | |||||
| Current Liabilities | |||||
| Income Tax Liabilities | 7,346 | 7,888 | 2,261 | 4,057 | 6,677 |
| Financial Liabilities | 103,653 | 168,151 | 430,589 | 34,826 | 116,370 |
| Payables | 124,569 | 100,430 | 115,099 | 92,889 | 122,380 |
| 235,568 | 276,469 | 547,949 | 131,772 | 245,427 | |
| Liabilities directly associated with disposal group classified as held‑for‑sale | - | - | - | 472,395 | - |
| Total Current Liabilities | 235,568 | 276,469 | 547,949 | 604,167 | 245,427 |
| Non-Current Liabilities | |||||
| Deferred Tax Liabilities | 4,986 | 3,711 | 13,548 | 3,604 | 2,443 |
| Financial Liabilities | 175,046 | 381,608 | 174,943 | 69,022 | 82,494 |
| Payables | 140,295 | 156,180 | 21,600 | 12,000 | 14,567 |
| Total Non-Current Liabilities | 320,327 | 541,499 | 210,091 | 84,626 | 99,504 |
| Total Liabilities | 555,895 | 817,968 | 758,040 | 688,793 | 344,931 |
| Net Assets | 456,309 | 465,882 | 610,371 | 703,387 | 628,844 |
| Equity | |||||
| Share Capital | 125,733 | 125,733 | 125,733 | 125,733 | 125,733 |
| Currency Translation Reserve and Others | (3,636) | (805) | (2,260) | (24,642) | (2,510) |
| Retained Profits | 311,256 | 329,552 | 325,618 | 388,945 | 482,915 |
| Non-Controlling Interest | 22,956 | 11,402 | 161,280 | 213,351 | 22,706 |
| Total Equity | 456,309 | 465,882 | 610,371 | 703,387 | 628,844 |
| Total Equity and Liabilities | 1,012,204 | 1,283,850 | 1,368,411 | 1,392,180 | 973,775 |
