Financial Summary/Highlights

Group Financial Highlights (S$’000)

 FY'14FY'15FY'16FY'17FY'18FY'19
Revenue713,536412,838164,251160,352293,694191,792
Gross Profit255,577104,57436,09038,18083,60051,912
Gross Profit Margin (%)35.8%25.3%22.0%23.8%28.5%27.1%
Net Profit Before Tax218,48280,30323,50625,64447,39842,993
Net Profit After Tax182,36665,53817,39918,77331,50234,922
Net Profit Margin25.6%15.9%10.6 %11.7%10.718.2%
Profit Attributable to Equity Holders of Company112,25747,02017,26718,67023,32334,566
Basic Earnings Per Share (cent)12.215.121.882.032.543.76
Total Equity339,107373,142342,245347,917375,945398,145
Total Assets741,555701,663704,158853,119765,947950,897
Equity Attributable to Equity Owners of Company309,674331,653340,583352,907364,010392,947
Net Asset Value Per Share0.340.360.370.380.400.43
Return on Equity36.3%14.2%5.1%5.3%6.4%8.8%
Dividend Paid
27,57713,7895,5165,5157,3547,354
Dividend Per Share (cent)3.001.500.600.600.800.80
Dividend Payout Ratio (%)24.6%29.3%31.9%29.5%31.5%21.3%

Consolidated Statement of Comprehensive Income (S$’000)

 FY'14FY'15FY'16FY'17FY'18FY'19
Revenue713,536412,838164,251160,352293,694191,792
Cost of Sales(457,959)(308,264)(128,161)(122,172)(210,094)(139,880)
Gross Profit255,577104,57436,09038,18082,51351,912
Other Income2164385091,4824,0594,876
Other Gains and Losses984(2,087)5,2033,085(12,939)(8,733)
Operating Expenses(36,064)(19,415)(15,983)(16,478)(25,604)(23,104)

Share of Profit of Associated Company---7102,60320,994
EBITDA220,71383,51025,81926,97951,71945,945
Depreciation Expense(3,836)(3,263)(2,475)(1,780)(1,078)(1,023)
EBIT216,87780,24723,34425,19950,64144,922
Interest Income1,6071,7581,7801,8163,5884,090
Finance Cost(2)(1,702)(1,618)(1,371)(6,831)(6,019)
Profit Before Income Tax218,48280,30323,50625,64447,39842,993
Income Tax Expense(36,116)(14,765)(6,107)(6,871)(15,896)(8,071)
Profit for the Year/Period182,36665,53817,39918,77331,50234,922
Attributable to
Non-controlling Interest 70,109 18,518 132 102 8,179 356

Profit Attributable to Equity Holders of the Company112,257 47,020 17,267 18,671 23,32334,566
Other Comprehensive Income, Net of Tax- 897
1,278 (831) (6,298) 539
Total Comprehensive Income182,366 66,435 18,677 17,942 25,20435,461
Attributable to:
Non-controlling Interest70,109 18,518 132 103 7,666
89
Total Comprehensive Income Attributable to Equity Holders of the Company112,257 47,917 18,545 17,839 17,53835,372

Consolidated Balanced Sheet (S$’000)

 FY'14FY'15FY'16FY'17FY'18FY'19
Assets
Current Assets
Development Properties262,439373,807 217,345 261,147 131,263
114,869
Cash and Cash Equivalents259,892 158,176 150,874 151,015 162,356
108,619
Receivables132,316 85,103 128,256 180,162 77,809 98,597
Total Current Assets654,647617,086496,475592,324371,428322,085
Non-Current Assets
Property, Plant and Equipment15,488 11,006 8,370 21,697 24,401
33,317

Investment Properties71,420 73,526 164,918 198,720 316,766 517,284
Receivables - 45 34,395 40,378 53,35278,211
Total Non-Current Assets86,90884,577207,683260,795394,519628,812
Total Assets741,555 701,663 704,158 853,119 765,947950,897
Liabilities
Current Liabilities
Income Tax Liabilities31,694 5,047 33,685 3,819 15,694
6,939
Financial Liabilities26,500 19,288 101,594 199,429 170,605 103,653
Payables209,880 174,523 163,022 202,128 91,543
124,569
Total Current Liabilities268,074198,858298,301405,376277,842235,161
Non-Current Liabilities
Deferred Tax Liabilities6,105 18,078 - 3,428 2,567
2,250
Financial Liabilities115,189 84,230 33,917 17,251 12,129
175,046
Payables13,080 27,355 29,695 79,147 97,464
140,295
Total Non-Current Liabilities134,374 129,663 63,612 99,826 112,160
317,591
Total Liabilities402,448 328,521 361,913 505,202 390,002
552,752
Net Assets339,107 373,142 342,245 347,917 375,945398,145
Equity
Share Capital125,733125,733125,733125,733125,733125,733
Currency Translation Reserve and Others
659 897 2,175 1,343 (4,442)
(3,636)
Retained Profits183,282205,023212,675225,831242,719270,850
Non-Controlling Interest29,433 41,489 1,662 (4,990) 11,935 5,198
Total Equity339,107373,142342,245347,917375,945398,145
Total Equity and Liabilities741,555 701,663 704,158 853,119 765,947950,897