Mooreast 1V3

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Financials

ANNUAL REPORT 2023

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11 tables

Consolidated Statement of Comprehensive Income (Group)

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Consolidated Statement of Comprehensive Income (Group) from ANNUAL REPORT 2023
Metric / unit	2023Group	2022Group	Source
Income statement
Revenue$	28,705,704	27,837,953	PDF p. 59
Cost of sales$	(18,253,402)	(16,973,814)	PDF p. 59
Gross profit$	10,452,302	10,864,139	PDF p. 59
Other items of income
Interest income$	637,280	492,028	PDF p. 59
Other income$	640,954	2,705,218	PDF p. 59
Other items of expense
Marketing and distribution$	(729,500)	(503,654)	PDF p. 59
Administrative expenses$	(8,859,021)	(7,784,587)	PDF p. 59
Interest expenses$	(2,256,158)	(1,772,647)	PDF p. 59
Research and development expenses$	(84,225)	(857,880)	PDF p. 59
Other expenses$	(1,488,762)	(1,144,461)	PDF p. 59
Income statement
(Loss)/profit before tax$	(1,687,130)	1,998,156	PDF p. 59
Income tax expense$	(160,043)	(624,783)	PDF p. 59
(Loss)/profit net of tax$	(1,847,173)	1,373,373	PDF p. 59
Other comprehensive (loss)/income: Items that may be reclassified subsequently to profit or loss
Foreign currency translation$	(22,727)	68,988	PDF p. 59
Other comprehensive (loss)/income
Total comprehensive (loss)/income for the financial year attributable to shareholders of the Company$	(1,869,900)	1,442,361	PDF p. 59
Earnings per share attributable to ordinary equity holders
Basic (cents)cents per share	(0.71)	0.53	PDF p. 59
Diluted (cents)cents per share	(0.71)	0.50	PDF p. 59

Definitions & sources

Original report: PDF p. 59 ↗

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Only a Group income statement is presented; no separate Company income statement was found.

Statements of Financial Position (Group and Company) - assets and liabilities

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Statements of Financial Position (Group and Company) - assets and liabilities from ANNUAL REPORT 2023
Metric / unit	2023Group	2022Group	2023Company	2022Company	Source
Non-current assets
Right-of-use assets$	29,990,836	31,659,485	–	–	PDF p. 60
Plant and equipment$	4,122,096	4,984,021	2,778	–	PDF p. 60
Intangible asset$	15,577	–	–	–	PDF p. 60
Investment in subsidiaries$	–	–	10,587,175	10,587,175	PDF p. 60
Trade and other receivables$	2,180,868	2,554,896	–	–	PDF p. 60
Subtotal$	36,309,377	39,198,402	10,589,953	10,587,175	PDF p. 60
Current assets
Inventories$	7,970,696	6,264,583	–	–	PDF p. 60
Trade and other receivables$	7,510,986	6,641,776	4,869,220	1,578,097	PDF p. 60
Contract assets$	1,933,022	2,017,795	–	−	PDF p. 60
Prepaid operating expenses$	1,757,255	1,637,510	37,879	26,033	PDF p. 60
Cash and bank balances$	16,355,735	19,105,101	12,606,438	14,961,050	PDF p. 60
Subtotal$	35,527,694	35,666,765	17,513,537	16,565,180	PDF p. 60
Assets
Total assets$	71,837,071	74,865,167	28,103,490	27,152,355	PDF p. 60
Current liabilities
Trade and other payables$	5,800,390	5,662,630	181,549	133,769	PDF p. 60
Contract liabilities$	879,760	308,626	–	–	PDF p. 60
Lease liabilities$	812,973	884,298	–	–	PDF p. 60
Income tax payable$	512,015	1,052,912	131,328	–	PDF p. 60
Loans and borrowings$	1,357,764	1,059,322	–	–	PDF p. 60
Subtotal$	9,362,902	8,967,788	312,877	133,769	PDF p. 60
Net current assets$	26,164,792	26,698,977	17,200,660	16,431,411	PDF p. 60
Non-current liabilities
Lease liabilities$	9,237,461	9,964,984	–	–	PDF p. 60
Deferred tax liabilities$	459,814	581,498	–	–	PDF p. 60
Provision for reinstatement$	2,194,806	2,095,066	–	–	PDF p. 60
Convertible notes$	5,024,046	4,768,122	5,024,046	4,768,122	PDF p. 60
Loans and borrowings$	24,198,998	25,258,765	–	–	PDF p. 60
Subtotal$	41,115,125	42,668,435	5,024,046	4,768,122	PDF p. 60
Liabilities
Total liabilities$	50,478,027	51,636,223	5,336,923	4,901,891	PDF p. 60
Net assets
Net assets$	21,359,044	23,228,944	22,766,567	22,250,464	PDF p. 60

Definitions & sources

Original report: PDF p. 60 ↗

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Statements of Financial Position (Group and Company) - equity

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Statements of Financial Position (Group and Company) - equity from ANNUAL REPORT 2023
Metric / unit	2023Group	2022Group	2023Company	2022Company	Source
Equity attributable to shareholders of the Company
Share capital$	23,635,984	23,635,984	23,635,984	23,635,984	PDF p. 61
Capital reserve$	(9,587,174)	(9,587,174)	–	–	PDF p. 61
Other reserve$	407,204	407,204	407,204	407,204	PDF p. 61
Retained earnings/(accumulated losses)$	6,798,203	8,645,376	(1,276,621)	(1,792,724)	PDF p. 61
Foreign currency translation reserve$	104,827	127,554	–	–	PDF p. 61
Equity
Total equity$	21,359,044	23,228,944	22,766,567	22,250,464	PDF p. 61
Total equity and liabilities$	71,837,071	74,865,167	28,103,490	27,152,355	PDF p. 61

Definitions & sources

Original report: PDF p. 61 ↗

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Continuation of the Statements of Financial Position as at 31 December 2023.

Consolidated Statement of Comprehensive Income (Group)

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Consolidated Statement of Comprehensive Income (Group) from ANNUAL REPORT 2023
Metric / unit	2023Group	2022Group	Source
Income
Revenue$	28,705,704	27,837,953	PDF p. 59
Cost of sales$	(18,253,402)	(16,973,814)	PDF p. 59
Gross profit$	10,452,302	10,864,139	PDF p. 59
Other items of income
Interest income$	637,280	492,028	PDF p. 59
Other income$	640,954	2,705,218	PDF p. 59
Other items of expense
Marketing and distribution$	(729,500)	(503,654)	PDF p. 59
Administrative expenses$	(8,859,021)	(7,784,587)	PDF p. 59
Interest expenses$	(2,256,158)	(1,772,647)	PDF p. 59
Research and development expenses$	(84,225)	(857,880)	PDF p. 59
Other expenses$	(1,488,762)	(1,144,461)	PDF p. 59
Income
(Loss)/profit before tax$	(1,687,130)	1,998,156	PDF p. 59
Income tax expense$	(160,043)	(624,783)	PDF p. 59
(Loss)/profit net of tax$	(1,847,173)	1,373,373	PDF p. 59
Other comprehensive (loss)/income: Items that may be reclassified subsequently to profit or loss
Foreign currency translation$	(22,727)	68,988	PDF p. 59
Total comprehensive income
Total comprehensive (loss)/income for the financial year attributable to shareholders of the Company$	(1,869,900)	1,442,361	PDF p. 59
Earnings per share
Basic (cents)cents	(0.71)	0.53	PDF p. 59
Diluted (cents)cents	(0.71)	0.50	PDF p. 59

Definitions & sources

Original report: PDF p. 59 ↗

Amounts in $ (Singapore dollars). Total comprehensive (loss)/income attributable to shareholders of the Company. No separate Company comprehensive income statement printed; Company total comprehensive income shown in Company statement of changes in equity.

Consolidated Cash Flow Statement (Group)

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Consolidated Cash Flow Statement (Group) from ANNUAL REPORT 2023
Metric / unit	2023Group	2022Group	Source
Operating activities
(Loss)/profit before tax$	(1,687,130)	1,998,156	PDF p. 64
Operating activities - Adjustments for
Depreciation of plant and equipment$	1,501,507	1,550,670	PDF p. 64
Depreciation of right-of-use assets$	1,744,188	1,713,859	PDF p. 64
Gain on disposal of plant and equipment$	(252,202)	(1,331,211)	PDF p. 64
Interest income$	(637,280)	(492,028)	PDF p. 64
Interest expense$	1,099,261	664,249	PDF p. 64
Interest expense on lease liabilities$	450,973	482,317	PDF p. 64
Interest expense on convertible notes$	705,924	626,081	PDF p. 64
Unrealised foreign exchange loss$	(48,949)	67,420	PDF p. 64
Reversal of allowance for inventories obsolescence$	(6,508)	(13,594)	PDF p. 64
Bad debts written off$	19,409	–	PDF p. 64
(Reversal)/allowance for expected credit losses$	(39,083)	37,642	PDF p. 64
Operating activities
Operating cash flows before changes in working capital$	2,850,110	5,303,561	PDF p. 64
Operating activities - Changes in working capital
(Increase)/decrease in inventories$	(1,699,605)	2,358,448	PDF p. 64
Increase in trade and other receivables$	(308,357)	(2,304,503)	PDF p. 64
Increase in prepaid operating expenses$	(119,745)	(852,951)	PDF p. 64
Increase/(decrease) in trade and other payables$	687,366	(103,347)	PDF p. 64
Restricted cash (Note 14)$	57,473	(67,866)	PDF p. 64
Operating activities
Cash flows from operations$	1,467,242	4,333,342	PDF p. 64
Interest paid$	(565)	(1,349)	PDF p. 64
Income tax paid$	(822,624)	(50,367)	PDF p. 64
Net cash flows generated from operating activities$	644,053	4,281,626	PDF p. 64
Investing activities
Purchase of plant and equipment$	(1,018,688)	(2,623,505)	PDF p. 64
Development expenditure$	(15,577)	–	PDF p. 64
Proceeds from disposal of plant and equipment$	636,913	2,111,231	PDF p. 64
Interest received$	631,680	159,853	PDF p. 64
Net cash flows generated from/(used in) investing activities$	234,328	(352,421)	PDF p. 64
Financing activities
Interest paid on lease liabilities$	(450,973)	(482,317)	PDF p. 64
Repayment of lease liabilities$	(874,387)	(803,215)	PDF p. 64
Interest paid on loans and borrowings$	(998,956)	(424,126)	PDF p. 64
Repayment of loans and borrowings$	(761,325)	(1,006,797)	PDF p. 64
Amount due to a director$	–	(2,000,000)	PDF p. 64
Interest paid on convertible note$	(450,000)	(450,000)	PDF p. 64
Net cash flows used in financing activities$	(3,535,641)	(5,166,455)	PDF p. 64
Net change in cash
Net decrease in cash and cash equivalents$	(2,657,260)	(1,237,250)	PDF p. 64
Effect of exchange rate changes on cash and cash equivalents$	(34,633)	(32,263)	PDF p. 64
Cash and cash equivalents at 1 January$	18,974,526	20,244,039	PDF p. 64
Cash and cash equivalents at 31 December (Note 14)$	16,282,633	18,974,526	PDF p. 64

Definitions & sources

Original report: PDF p. 64 ↗

Amounts in $. Only a consolidated (Group) cash flow statement is printed; no Company cash flow statement.

Statements of Changes in Equity - Group, 2023

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Statements of Changes in Equity - Group, 2023 from ANNUAL REPORT 2023
Metric / unit	2023Group - Share capital	2023Group - Capital reserve	2023Group - Other reserve	2023Group - Retained earnings/(accumulated losses)	2023Group - Foreign currency translation reserve	2023Group - Total equity	Source
Group 2023
Opening balance at 1 January 2023$	23,635,984	(9,587,174)	407,204	8,645,376	127,554	23,228,944	PDF p. 62
Loss net of tax$	–	–	–	(1,847,173)	–	(1,847,173)	PDF p. 62
Foreign currency translation$	–	–	–	–	(22,727)	(22,727)	PDF p. 62
Total comprehensive loss for the financial year$	–	–	–	(1,847,173)	(22,727)	(1,869,900)	PDF p. 62
Closing balance at 31 December 2023$	23,635,984	(9,587,174)	407,204	6,798,203	104,827	21,359,044	PDF p. 62

Definitions & sources

Original report: PDF p. 62 ↗

Amounts in $. (1) Capital reserve arose from restructuring exercise during financial year ended 2021. Column order: Share capital (Note 21), Capital reserve, Other reserve, Retained earnings/(accumulated losses), Foreign currency translation reserve, Total equity. No non-controlling interest columns printed.

Statements of Changes in Equity - Group, 2022

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Statements of Changes in Equity - Group, 2022 from ANNUAL REPORT 2023
Metric / unit	2022Group - Share capital	2022Group - Capital reserve	2022Group - Other reserve	2022Group - Retained earnings	2022Group - Foreign currency translation reserve	2022Group - Total equity	Source
Group 2022
Opening balance at 1 January 2022$	23,635,984	(9,587,174)	407,204	7,272,003	58,566	21,786,583	PDF p. 62
Profit net of tax$	–	–	–	1,373,373	–	1,373,373	PDF p. 62
Foreign currency translation$	–	–	–	–	68,988	68,988	PDF p. 62
Total comprehensive income for the financial year$	–	–	–	1,373,373	68,988	1,442,361	PDF p. 62
Closing balance at 31 December 2022$	23,635,984	(9,587,174)	407,204	8,645,376	127,554	23,228,944	PDF p. 62

Definitions & sources

Original report: PDF p. 62 ↗

Amounts in $. (1) Capital reserve arose from restructuring exercise during financial year ended 2021.

Statements of Changes in Equity - Company

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Statements of Changes in Equity - Company from ANNUAL REPORT 2023
Metric / unit	2023Company - Share capital	2023Company - Accumulated losses	2023Company - Other reserve	2023Company - Total equity	Source
Company 2023
Opening balance as at 1 January 2023$	23,635,984	(1,792,724)	407,204	22,250,464	PDF p. 63
Total comprehensive income for the financial year$	–	516,103	–	516,103	PDF p. 63
Closing balance at 31 December 2023$	23,635,984	(1,276,621)	407,204	22,766,567	PDF p. 63
Company 2022
Opening balance as at 1 January 2022$	23,635,984	(1,538,949)	407,204	22,504,239	PDF p. 63
Total comprehensive loss for the financial year$	–	(253,775)	–	(253,775)	PDF p. 63
Closing balance at 31 December 2022$	23,635,984	(1,792,724)	407,204	22,250,464	PDF p. 63

Definitions & sources

Original report: PDF p. 63 ↗

Amounts in $. Column order: Share capital (Note 21), Accumulated losses, Other reserve, Total equity. Rows cover both 2023 and 2022 movements as labelled in the section field; 2022 values use the same column order.

Financial Highlights (summary table)

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Financial Highlights (summary table) from ANNUAL REPORT 2023
Metric / unit	2023Group FY2023	2022Group FY2022	2021Group FY2021	Source
Income
Revenue$'000	28,706	27,838	14,200	PDF p. 13
(Loss)/profit before tax$'000	(1,687)	1,998	(2,109)	PDF p. 13
(Loss)/profit after tax$'000	(1,847)	1,373	(2,296)	PDF p. 13
Financial position
Total assets$'000	71,837	74,865	76,171	PDF p. 13
Total liabilities$'000	50,478	51,636	54,385	PDF p. 13
Total equity$'000	21,359	23,229	21,787	PDF p. 13
Selected ratio
Net asset per ordinary shareCents	8.2	9.0	8.4	PDF p. 13
Basic earnings/(loss) per share*Cents	(0.71)	0.53	(7)	PDF p. 13

Definitions & sources

Original report: PDF p. 13 ↗

*The earnings per share is computed by dividing the profit/(loss) after tax attributable to shareholders of the Company against the weighted average number of shares, taking into account share split for the respective reporting periods.

Financial Highlights (bar charts: Revenue, profit before tax, profit after tax)

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Financial Highlights (bar charts: Revenue, profit before tax, profit after tax) from ANNUAL REPORT 2023
Metric / unit	2023Group FY2023	2022Group FY2022	2021Group FY2021	Source
Chart: FY2023, FY2022, FY2021
(Loss)/profit before tax ($’000)$'000	(1,687)	1,998	(2,109)	PDF p. 12
(Loss)/profit after tax ($’000)$'000	(1,847)	1,373	(2,296)	PDF p. 12

Definitions & sources

Original report: PDF p. 12 ↗

Revenue chart on same page shows FY2023 28,706; FY2022 27,838; FY2021 14,200 (identical to summary table).

Note 8 Earnings per share – profit and share data

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Note 8 Earnings per share – profit and share data from ANNUAL REPORT 2023
Metric / unit	2023Group, year ended 31 December 2023	2022Group, year ended 31 December 2022	Source
Earnings per share
(Loss)/profit for the financial year attributable to ordinary equity holders for basic and diluted earnings$	(1,847,173)	1,373,373	PDF p. 84
Weighted average number of ordinary shares for basic EPSNo. of shares	259,000,000	259,000,000	PDF p. 84
Weighted average number of ordinary shares for diluted EPSNo. of shares	276,482,517	276,482,517	PDF p. 84

Definitions & sources

Original report: PDF p. 84 ↗

Basic EPS = profit for the year, net of tax, attributable to shareholders divided by weighted average number of ordinary shares outstanding. Diluted adds weighted average shares issuable on conversion of dilutive potential ordinary shares. In current year, diluted EPS is the same as basic EPS as the effect of conversion of the convertible notes is anti-dilutive.

Where the money comes from

Segment information

By business

Segment information – year ended 31 December 2023 (Group, $) 9 lines

Segment information – year ended 31 December 2023 (Group, $)
Item / unit	2023Mooring	2023Rigging and heavy lifting	2023Marine supplies and services	2023Renewable energy	2023Yard	2023Corporate	2023Elimination	2023Per consolidated financial statements	Source
Revenue
Revenue from external customers$	7,848,349	5,111,438	2,515,865	3,292,212	9,937,840	–	–	28,705,704	PDF p. 101
Intersegment revenue$	954,757	–	–	–	–	–	(954,757)	–	PDF p. 101
Total revenue$	8,803,106	5,111,438	2,515,865	3,292,212	9,937,840	–	(954,757)	28,705,704	PDF p. 101
Results
Depreciation$	1,431,272	196,395	69,376	69,376	836,426	642,850	–	3,245,695	PDF p. 101
Interest income$	60,750	–	–	–	–	631,680	(55,150)	637,280	PDF p. 101
Interest expense$	340,045	55,909	55,909	55,909	548,794	1,254,732	(55,140)	2,256,158	PDF p. 101
Segment (loss)/profit$	(587,935)	655,339	109,421	1,455,262	1,430,051	(4,784,892)	35,624	(1,687,130)	PDF p. 101
Assets
Segment assets:$	16,341,561	5,001,469	1,515,354	605,207	4,936,700	50,743,835	(7,307,055)	71,837,071	PDF p. 101
Liabilities
Segment liabilities (exclude tax payables and deferred tax liabilities:$	6,598,329	256,796	211,286	532	2,599,835	48,122,139	(8,282,719)	49,506,198	PDF p. 101

Notes

Segment performance is evaluated based on operating profit or loss which in certain respects is measured differently from operating profit or loss in the consolidated financial statements.

Segment liabilities exclude tax payables and deferred tax liabilities (as printed, label lacks closing parenthesis).

Segment information – year ended 31 December 2022 (Group, $) 9 lines

Segment information – year ended 31 December 2022 (Group, $)
Item / unit	2022Mooring	2022Rigging and heavy lifting	2022Marine supplies and services	2022Renewable energy	2022Yard	2022Corporate	2022Elimination	2022Per consolidated financial statements	Source
Revenue
Revenue from external customers$	12,733,164	3,751,715	2,579,369	1,759,867	7,013,838	–	–	27,837,953	PDF p. 102
Intersegment revenue$	1,759,734	–	–	–	–	–	(1,759,734)	−	PDF p. 102
Total revenue$	14,492,898	3,751,715	2,579,369	1,759,867	7,013,838	–	(1,759,734)	27,837,953	PDF p. 102
Results
Depreciation$	1,584,931	197,364	69,260	69,260	835,393	508,321	–	3,264,529	PDF p. 102
Interest income$	345,045	2,411	–	–	–	197,295	(52,723)	492,028	PDF p. 102
Interest expense$	401,826	43,288	41,917	43,984	435,840	858,527	(52,735)	1,772,647	PDF p. 102
Segment profit/(loss)$	4,716,477	6,700	(14,581)	13,210	752,411	(3,459,067)	(16,994)	1,998,156	PDF p. 102
Assets
Segment assets:$	15,605,303	3,957,567	1,346,894	1,592,290	4,669,821	51,070,791	(3,377,499)	74,865,167	PDF p. 102
Liabilities
Segment liabilities (exclude tax payables and deferred tax liabilities:$	2,544,151	509,106	164,420	495,106	3,110,471	47,494,599	(4,316,040)	50,001,813	PDF p. 102

Notes

Segment liabilities exclude tax payables and deferred tax liabilities (as printed, label lacks closing parenthesis).

By geography

Geographical information – Group revenue and non-current assets ($) 8 lines

Geographical information – Group revenue and non-current assets ($)
Item / unit	2023Group Revenue	2022Group Revenue	2023Group Non-current assets	2022Group Non-current assets	Source
Geographical information
Singapore$	14,725,298	14,075,530	33,810,726	36,326,922	PDF p. 103
Europe$	4,548,704	5,594,164	302,206	316,584	PDF p. 103
Asia Pacific (excluding Singapore)$	6,364,811	6,955,359	–	–	PDF p. 103
Middle East$	595,867	770,141	–	–	PDF p. 103
Oceania$	1,132,320	442,759	–	–	PDF p. 103
South America$	1,234,437	–	–	–	PDF p. 103
Others$	104,267	–	–	–	PDF p. 103
Total (unlabelled)$	28,705,704	27,837,953	34,112,932	36,643,506	PDF p. 103

Notes

Segment revenue is based on the countries in which customers are invoiced. Non-current assets information consists of plant and equipment and right-of-use assets as presented in the statements of financial position and are based on the geographical location of the entities.

Total row has no printed label.

Debt

Borrowings

Note 28(b) Maturity profile, 2023 Group (contractual undiscounted)

Note 28(b) Maturity profile, 2023 Group (contractual undiscounted) — Group
Item / unit	2023One year or less, $	2023One to five years, $	2023Total, $	Source
Financial liabilities
Lease liabilities (Note 16)$	1,231,069	13,245,459	14,476,528	PDF p. 107
Shareholder loan (Note 17)$	310,787	13,000,000	13,310,787	PDF p. 107
Commercial property loan (Note 17)$	1,588,039	13,498,332	15,086,371	PDF p. 107
Convertible notes (Note 18)$	450,000	6,900,000	7,350,000	PDF p. 107

Notes

Based on contractual undiscounted repayment obligations. No 'after five years' column is printed.

Note 28(b) Maturity profile, 2022 Group (contractual undiscounted)

Note 28(b) Maturity profile, 2022 Group (contractual undiscounted) — Group
Item / unit	2022One year or less, $	2022One to five years, $	2022Total, $	Source
Financial liabilities
Lease liabilities (Note 16)$	1,346,909	14,439,757	15,786,666	PDF p. 108
Shareholder loan (Note 17)$	82,575	13,000,000	13,082,575	PDF p. 108
Commercial property loan (Note 17)$	1,632,976	15,513,270	17,146,246	PDF p. 108
Convertible notes (Note 18)$	450,000	7,350,000	7,800,000	PDF p. 108

Notes

Based on contractual undiscounted repayment obligations.

Note 28(b) Maturity profile, Company 2023 and 2022 (convertible notes)

Note 28(b) Maturity profile, Company 2023 and 2022 (convertible notes) — Company
Item / unit	2023One year or less, $	2023One to five years, $	2023Total, $	Source
2023 Company - Financial liabilities
Convertible notes (Note 18)$	450,000	6,900,000	7,350,000	PDF p. 108

Notes

Company 2022 convertible notes (page 109): 450,000; 7,350,000; 7,800,000. Company has no loans and borrowings (printed as dash on balance sheet).

Note 28(b) Maturity profile, Company 2022 (convertible notes)

Note 28(b) Maturity profile, Company 2022 (convertible notes) — Company
Item / unit	2022One year or less, $	2022One to five years, $	2022Total, $	Source
2022 Company - Financial liabilities
Convertible notes (Note 18)$	450,000	7,350,000	7,800,000	PDF p. 109

Notes

Undiscounted contractual amounts.

Borrowing notes 2 tables

Loans and borrowings

Loans and borrowings — Group
Item / unit	202331 December 2023, $	202231 December 2022, $	Source
Current
Commercial property loan (secured)$	1,046,977	976,747	PDF p. 93
Shareholder loan$	310,787	82,575	PDF p. 93
Current total$	1,357,764	1,059,322	PDF p. 93
Non-current
Commercial property loan (secured)$	11,198,998	12,258,765	PDF p. 93
Shareholder loan$	13,000,000	13,000,000	PDF p. 93
Non-current total$	24,198,998	25,258,765	PDF p. 93
Total
Total loans and borrowings$	25,556,762	26,318,087	PDF p. 93

Notes

Commercial property loan is secured by an all-monies legal mortgage over the property and a corporate guarantee provided by Mooreast Holdings Ltd. Repayable in 144 monthly instalments between 14 July 2021 to 30 June 2033. Interest rate at 0.82% (2022: 0.80%) per annum above 3-month SIBOR for Year 1.

Shareholder loan: $13,000,000 converted from interim dividend; interest 0.1% above Compounded SORA for each 6-month Interest Rate Period. Shareholder loan is not described as secured.

Maturity analysis is disclosed in Note 28(b). All amounts in Singapore dollars ($).

Lease liabilities

Lease liabilities — Group
Item / unit	2023$	2022$	Source
Lease liabilities
Current$	812,973	884,298	PDF p. 92
Non-current$	9,237,461	9,964,984	PDF p. 92
As at 31 December$	10,050,434	10,849,282	PDF p. 92

Notes

Maturity analysis of lease liabilities is disclosed in Note 28(b).

Payout

Dividends & distributions

Dividend policy

Item	Value	Period / scope	Source
Dividend policy	The Company does not have a fixed dividend policy at present. The frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, projected capital requirements for business growth and other factors as the Board may deem appropriate.	Company/Group, FY2023	PDF p. 42

Dividends declared and proposed

Item	Value	Period / scope	Source
Dividend for FY2023	No dividend has been declared or recommended for the financial year ended 31 December 2023 as the Group continues to operate prudently and intends to conserve cash.	FY2023	PDF p. 42

Extracted from ANNUAL REPORT 2023 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
Audit firm	Ernst & Young LLP	Group	PDF p. 58
Engagement partner	Ng Boon Heng	Group	PDF p. 58

Extracted from ANNUAL REPORT 2023 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow ANNUAL REPORT 2023, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.