Financial Summary/Highlights
5 Year Financial Summary
Consolidated Statement of Comprehensive Income
| FY'24 | FY'23 | FY'22 | FY'21 | FY'20 | |
|---|---|---|---|---|---|
| Revenue | 200,794 | 224,842 | 215,890 | 188,617 | 189,945 |
| Total Profit for the Year | 56,979 | 124,765 | 136,040 | 14,457 | 12,184 |
| Profit Attributed to Equity Holders of the Company | 54,030 | 98,566 | 67,923 | 662 | 24,731 |
Balance Sheet – Group (S$’000)
| FY'24 | FY'23 | FY'22 | FY'21 | FY'20 | |
|---|---|---|---|---|---|
| Investment Properties | 185,946 | 166,563 | 25,796 | 877,446 | 746,508 |
| Property, Plant and Equipment | 28,660 | 29,784 | 30,954 | 32,541 | 33,227 |
| Development Properties | 109,296 | 134,794 | 171,364 | 196,297 | 210,909 |
| Cash and Cash Equivalents | 101,849 | 107,316 | 38,525 | 53,430 | 105,096 |
| Other Assets | 166,212 | 535,318 | 128,844 | 208,697 | 188,110 |
| Assets of Disposal Group Classified as Held-for-Sale | 1,380,271 | - | 996,697 | - | - |
| Total Assets | 1,031,819 | 973,775 | 1,368,411 | 1,368,411 | 1,283,850 |
| Equity Attributable to Equity Holders of the Company | 653,492 | 606,138 | 490,036 | 449,091 | 454,480 |
| Financial Liabilities | 215,686 | 198,864 | 103,848 | 605,532 | 549,759 |
| Non-Controlling Interests and other Liabilities | 162,641 | 168,773 | 325,901 | 313,788 | 279,611 |
| Liabilities directly associated with Disposal Group Classified as Held-for-Sale | 496,864 | - | 472,395 | - | - |
| Total Equity and Liabilities | 1,031,819 | 973,775 | 1,368,411 | 1,368,411 | 1,283,850 |
Financial Ratios
| FY'24 | FY'23 | FY'22 | FY'21 | FY'20 | |
|---|---|---|---|---|---|
| Earnings per Share (cent) | 5.88 | 10.72 | 7.39 | 0.07 | 2.69 |
| Net Asset Value per Share ($) | 0.71 | 0.66 | 0.53 | 0.49 | 0.49 |
| Return on Equity (%) | 8.27 | 16.26 | 13.86 | 0.15 | 5.44 |
| Dividend Paid ($'000) | 5,515 | 4,596 | 4,596 | 4,596 | 6,435 |
| Dividend per Share (cent) | 0.60 | 0.50 | 0.50 | 0.50 | 0.70 |
| Dividend Payout Ratio | 10.2% | 4.7% | 6.8% | 694.3% | 26.0% |
Group Financial Statements
Consolidated Statement of Comprehensive Income ($’000)
| FY'24 | FY'23 | FY'22 | FY'21 | FY'20 | |
|---|---|---|---|---|---|
| Continuing operations | |||||
| Revenue | 200,764 | 224,842 | 215,890 | 188,617 | 189,945 |
| Cost of Sales | (117,785) | (171,241) | (190,535) | (183,024) | (144,547) |
| Gross Profit | 83,009 | 53,601 | 25,355 | 5,593 | 45,398 |
| Other Income | 8,571 | 6,313 | 12,654 | 12,212 | 17,065 |
| Other Gains and Losses | (53,328) | 15,938 | (32,283) | (31,948) | (21,408) |
| Operating Expenses | (29,567) | (26,514) | (26,541) | (23,868) | (21,442) |
| Share of Profit of Associates | 64,861 | 126,390 | 531 | 2,546 | 11,133 |
| EBITDA | 73,546 | 175,728 | (20,284) | (35,465) | 30,746 |
| Depreciation Expense | (1,755) | (2,091) | (1,822) | (1,757) | (1,935) |
| EBIT | 71,791 | 173,637 | (22,106) | (37,222) | 28,811 |
| Finance Expenses | (7,768) | (4,539) | (2,995) | (365) | (14,050) |
| Profit Before Income Tax | 64,023 | 169,098 | (25,101) | (37,587) | 14,761 |
| Income Tax Expense | (7,044) | (8,860) | (3,067) | (5,287) | (2,577) |
| Profit/(loss) from continuing operations for the Year | 56,979 | 160,238 | (28,168) | (42,874) | 12,184 |
| Discontinued operations | |||||
| Profit from Discontinued operations | - | (35,473) | 164,208 | 57,331 | - |
| Total Profit for the Year | 56,979 | 124,765 | 136,040 | 14,457 | 12,184 |
| Profit/Loss Attributed to: | |||||
| Non-controlling interest | 2,949 | 26,199 | 68,117 | 13,795 | (12,547) |
| Equity Holders of the Company | 54,030 | 98,566 | 67,923 | 662 | 24,731 |
| Profit attributed to equity holders of the Company relates to: | |||||
| Profit from continuing operations | 54,030 | 132,825 | (33,407) | (39,954) | 24,731 |
| Profit from discontinued operations | - | (34,259) | 101,330 | 40,616 | - |
| Other Comprehensive Income/(loss), Net of Tax | (1,161) | 36,798 | (36,347) | (1,606) | 3,001 |
| Total Comprehensive Income | 55,818 | 161,563 | 99,693 | 12,851 | 15,185 |
| Total Comprehensive Income/(loss), Attributed to: | |||||
| Non-controlling Interest | 2,949 | 40,865 | 54,152 | 13,644 | (12,377) |
| Equity Holders of the Company | 52,869 | 120,698 | 45,541 | (793) | 27,562 |
Balance Sheet
| FY'24 | FY'23 | FY'22 | FY'21 | FY'20 | |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Development Properties | 109,296 | 134,794 | 168,818 | 196,297 | 210,909 |
| Cash and Cash Equivalents | 101,849 | 107,316 | 38,525 | 53,430 | 105,096 |
| Receivables | 100,652 | 125,152 | 86,752 | 143,902 | 127,947 |
| 311,797 | 367,262 | 294,095 | 393,629 | 443,952 | |
| Assets of disposal group classified as held for sale | - | - | 996,697 | - | - |
| Total Current Assets | 311,797 | 367,262 | 1,290,792 | 393,629 | 443,952 |
| Non-Current Assets | |||||
| Property, Plant and Equipment | 28,660 | 29,784 | 30,954 | 32,541 | 33,227 |
| Investment Properties | 185,946 | 166,563 | 25,796 | 877,446 | 746,508 |
| Deferred Tax Assets | - | 972 | 3,274 | 1,568 | 4,556 |
| Receivables | 505,416 | 409,194 | 41,364 | 63,227 | 55,607 |
| Total Non Current Assets | 720,022 | 606,513 | 101,388 | 974,782 | 839,898 |
| Total Assets | 1,031,819 | 973,775 | 1,392,180 | 1,368,411 | 1,283,850 |
| Liabilities | |||||
| Current Liabilities | |||||
| Income Tax Liabilities | 5,735 | 6,677 | 4,057 | 2,261 | 7,888 |
| Financial Liabilities | 71,813 | 116,370 | 34,826 | 430,589 | 168,151 |
| Payables | 115,251 | 122,380 | 92,889 | 115,099 | 100,430 |
| 192,799 | 245,427 | 131,772 | 547,949 | 276,469 | |
| Liabilities directly associated with disposal group classified as held‑for‑sale | - | - | 472,395 | - | - |
| Total Current Liabilities | 192,799 | 245,427 | 604,167 | 547,949 | 276,469 |
| Non-Current Liabilities | |||||
| Deferred Tax Liabilities | 2,386 | 2,443 | 3,604 | 13,548 | 3,711 |
| Financial Liabilities | 143,873 | 82,494 | 69,022 | 174,943 | 381,608 |
| Payables | 30,703 | 14,567 | 12,000 | 21,600 | 156,180 |
| Total Non-Current Liabilities | 176,962 | 99,504 | 84,626 | 210,091 | 541,499 |
| Total Liabilities | 369,761 | 344,931 | 688,793 | 758,040 | 817,968 |
| Net Assets | 662,058 | 628,844 | 703,387 | 610,371 | 465,882 |
| Equity | |||||
| Share Capital | 125,733 | 125,733 | 125,733 | 125,733 | 125,733 |
| Currency Translation Reserve and Others | (3,671) | (2,510) | (24,642) | (2,260) | (805) |
| Retained Profits | 531,430 | 482,915 | 388,945 | 325,618 | 329,552 |
| Non-Controlling Interest | 8,566 | 22,706 | 213,351 | 161,280 | 11,402 |
| Total Equity | 662,058 | 628,844 | 703,387 | 610,371 | 465,882 |
| Total Equity and Liabilities | 1,031,819 | 973,775 | 1,392,180 | 1,368,411 | 1,283,850 |
