Financial Summary/Highlights

Group Financial Highlights (S$’000)

 FY'14FY'15FY'16FY'17FY'18Sep'19
Revenue713,536412,838164,251160,352293,694148,850
Gross Profit255,577104,57436,09038,18083,60043,141
Gross Profit Margin (%)35.8%25.3%22.0%23.8%28.5%29.0%
Net Profit Before Tax218,48280,30323,50625,64449,08724,906
Net Profit After Tax182,36665,53817,39918,77333,19118,219
Net Profit Margin25.6%15.9%10.6 %11.7%11.3%12.2%
Profit Attributable to Equity Holders of Company112,25747,02017,26718,67025,01216,796
Basic Earnings Per Share (cent)12.215.121.882.032.721.83
Total Equity339,107373,142342,245347,917377,634394,211
Total Assets741,555701,663704,158853,119767,636839,945
Equity Attributable to Equity Owners of Company309,674331,653340,583352,907365,699376,512
Net Asset Value Per Share0.340.360.370.380.400.41
Total Dividend Paid
27,57713,7895,5165,5157,3546,435
Dividend Per Share (cent)3.001.500.600.600.800.70
Dividend Payout Ratio (%)24.6%29.3%31.9%29.5%29.4%38.3%

Consolidated Statement of Comprehensive Income (S$’000)

 FY'14FY'15FY'16FY'17FY'18Sep'19
Revenue713,536412,838164,251160,352293,694148,850
Cost of Sales(457,959)(308,264)(128,161)(122,172)(210,094)(105,709)
Gross Profit255,577104,57436,09038,18082,51343,141
Other Income1,8232,1962,2893,2987,6473,130
Other Gains and Losses984(2,087)5,2033,085(12,939)5,910
Operating Expenses(36,064)(19,415)(15,983)(16,478)(25,604)(30,649)
Share of Profit of Associated Company---7104,29211,416
EBITDA222,32085,26827,59928,79556,99632,948
Depreciation Expense(3,836)(3,263)(2,475)(1,780)(1,078)(752)
EBIT218,48482,00525,12427,01555,91832,196
Finance Cost(2)(1,702)(1,618)(1,371)(6,831)(7,290)
Profit Before Income Tax218,48280,30323,50625,64449,08724,906
Income Tax Expense(36,116)(14,765)(6,107)(6,871)(15,896)(6,687)
Profit for the Year/Period182,36665,53817,39918,77333,19118,219
Attributable to
Non-controlling Interest 70,109 18,518 132 102 8,179 1,423
Profit Attributable to Equity Holders of the Company 112,257 47,020 17,267 18,671 25,012
16,796
Other Comprehensive Income, Net of Tax- 897
1,278 (831) (6,298) 153
Total Comprehensive Income 182,366 66,435 18,677 17,942 26,893
18,372
Attributable to:
Non-controlling Interest 70,109 18,518 132 103 7,666
1,124
Total Comprehensive Income Attributable to Equity Holders of the Company 112,257 47,917 18,545 17,839 19,227
17,248

Consolidated Balanced Sheet (S$’000)

 FY'14FY'15FY'16FY'17FY'18Sep'19
Assets
Current Assets
Development Properties262,439 373,807 217,345 261,147 131,263
113,775
Cash and Cash Equivalents259,892 158,176 150,874 151,015 162,356
105,920
Receivables132,316 85,103 128,256 180,123 77,809 126,933
Total Current Assets654,647617,086496,475592,285371,428346,628
Non-Current Assets
Property, Plant and Equipment15,488 11,006 8,370 21,697 24,401
34,952
Investment Properties71,420 73,526 164,918 198,759 316,766 387,906
Receivables - 45 34,395 40,378 55,041
70,459
Total Non-Current Assets86,90884,577207,683257,406396,208493,317
Total Assets741,555 701,663 704,158 853,119 767,636 839,945
Liabilities
Current Liabilities
Income Tax Liabilities31,694 5,047 33,685 3,819 15,694
9,966
Financial Liabilities26,500 19,288 101,594 199,429 170,605 194,518
Payables209,880 174,523 163,022 202,128 91,543
89,579
Total Current Liabilities268,074198,858298,301405,37615,694294,063
Non-Current Liabilities
Deferred Tax Liabilities6,105 18,078 - 3,428 2,567
1,809
Financial Liabilities115,189 84,230 33,917 17,251 12,129
17,785
Payables13,080 27,355 29,695 79,147 97,464
132,077
Total Non-Current Liabilities134,374 129,663 63,612 99,826 112,160
151,671
Total Liabilities402,448 328,521 361,913 505,202 390,002
445,734
Net Assets339,107 373,142 342,245 347,917 377,634
394,211
Equity
Share Capital125,733125,733125,733125,733125,733125,733
Currency Translation Reserve and Others
659 897 2,175 1,343 (4,442)
(3,990)
Retained Profits183,281205,023212,675225,830244,408254,769
Non-Controlling Interest29,433 41,489 1,662 (4,990) 11,935 17,699
Total Equity339,107373,142342,245347,917377,634394,211
Total Equity and Liabilities741,555 701,663 704,158 853,119 767,636
839,945