Business Overview

Business Overview

Extracted from Annual Report 2023

Financial Performance Review

  • REVENUE
  • GROSS PROFIT
  • OTHER OPERATING INCOME
  • DISTRIBUTION EXPENSES
  • ADMINISTRATIVE EXPENSES
  • OTHER OPERATING EXPENSES
  • FINANCE INCOME
  • FINANCE COST
  • INCOME TAX EXPENSE
  • PROFIT FOR THE YEAR

Financial Position Review

  • NON-CURRENT ASSETS
  • CURRENT ASSETS
  • NON-CURRENT LIABILITIES
  • CURRENT LIABILITIES
  • SHAREHOLDERS' EQUITY

Cash Flows Review

The Group’s net cash flows generated from operating activities was S$12.5 million in FY2023 compared to S$0.9 million in FY2022. The increase in net cash flows generated from operating activities was mainly due to lower working capital requirements in FY2023. The lower working capital requirements was mainly due to (i) sale of a landed residential property and (ii) lower optimized inventory levels in the Marine & Offshore Segment’s business.

The cash flows used in investing activities amounted to S$0.6 million in FY2023 was mainly due to lower capital expenditure on the acquisition of property, plant and equipment of S$1.0 million, partially offset by the receipt of deferred grant income of S$0.4 million.

Net cash flows used in financing activities amounted to S$8.3 million in FY2023 was mainly due to dividend payment of S$0.2 million, interest payment of S$1.2 million, repayment of loans and borrowings of S$25.4 million, and payment of lease liabilities of S$0.8 million; partially offset by proceeds from the drawdown of loans and borrowings of S$19.3 million.

As at 30 June 2023, the Group has cash and cash equivalents of S$8.1 million as compared to S$4.5 million as at 30 June 2022.