Annual General Meeting Held on 18 October 2019 Background Regional - - PowerPoint PPT Presentation

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Annual General Meeting Held on 18 October 2019 Background Regional - - PowerPoint PPT Presentation

Sep 06, 2023 121 likes •275 views

Presentation for Annual General Meeting Held on 18 October 2019 Background Regional Stainless Steel Distributor Established in 1977 Serving customers in Asia Pacific region 2 warehouses in Singapore with total land space of

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SLIDE 1

Annual General Meeting

Held on 18 October 2019

Presentation for

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SLIDE 2

Background

Regional Stainless Steel Distributor

  • Established in 1977
  • Serving customers in Asia Pacific region
  • 2 warehouses in Singapore with total land space of 160,000 sq ft.
  • More than 3,000 items of stainless steel
  • Listed on SGX mainboard since 2007
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SLIDE 3

Market Overview

Regional Stainless Steel Distributor

  • Recovery in market conditions and demand from our customers
  • Price of nickel and stainless steel remains in a range
  • Oil price is volatile but remains in a range

WTI Crude Oil Price (USD) - 3 Year Chart

Source: www.lme.co.uk Source: www.macrotrends.net

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SLIDE 4

Higher Revenue and Profit for FY2019

S$’000 FY2019 FY2018 % change Revenue 49,856 37,687 32% Gross profit 12,063 8,635 40% GP margin 24 % 23% Distribution & admin expenses (9,277) (8,463) 10% Other income 404 534 (24%) Impairment loss on receivables (237) (163) 45% Other costs & expenses (52) (319) (84%) Share of loss of joint venture

  • (26)

n.m. Profit before tax 2,901 198 1365% Net profit 2,395 32 7384%

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SLIDE 5

Sales revenue (S$’000)

58,947 51,432 33,130 37,687 49,856

  • 10,000

20,000 30,000 40,000 50,000 60,000 70,000 FY2015 FY2016 FY2017 FY2018 FY2019

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SLIDE 6

Profit/(Loss) after tax (S$’000)

3,543 41 (274) 32 2,395 (500)

  • 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000 FY2015 FY2016 FY2017 FY2018 FY2019

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SLIDE 7

Revenue by industry ($ million) - FY2019

11% 18% 38% 33%

FY2019

Marine and shipbuilding Oil, gas and petrochemical Engineering and construction Trading and others

5.5 9.0 19.1 16.3 3.8 7.2 12.4 14.3

  • 5.0

10.0 15.0 20.0 25.0 Marine and shipbuilding Oil, gas and petrochemical Engineering and construction Trading and others FY2019 FY2018 $49.9 million $37.7 million

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SLIDE 8

Revenue by geographical segment ($ million) - FY2019

23.2 9.4 5.5 7.9 3.9 20.1 6.5 2.5 5.8 2.8

  • 5.0

10.0 15.0 20.0 25.0 Singapore Indonesia China Other ASEAN countries Others FY2019 FY2018

$49.9 million $37.7 million

46% 19% 11% 16% 8%

FY2019

Singapore Indonesia China Other ASEAN countries Others

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SLIDE 9

Receivables turnover improved (days)

98 75 103 120 101 20 40 60 80 100 120 140 FY2015 FY2016 FY2017 FY2018 FY2019

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SLIDE 10

Inventory turnover improved (days)

327 358 543 489 439 100 200 300 400 500 600 FY2015 FY2016 FY2017 FY2018 FY2019

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SLIDE 11

Financial position

S$’000 FY2019 FY2018 Non-current assets 10,326 7,849 Current assets 80,393 81,692 Current liabilities 5,015 5,309 Equity 85,704 84,232

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SLIDE 12

Dividend doubled in FY2019 compared to FY2018 (cents per share)

1.5 0.5 0.2 0.3 0.6 0.2 0.4 0.6 0.8 1 1.2 1.4 1.6 FY2015 FY2016 FY2017 FY2018 FY2019

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SLIDE 13

Dividend payout (S$’000)

3,330 1,110 444 666 1,332

  • 500

1,000 1,500 2,000 2,500 3,000 3,500 FY2015 FY2016 FY2017 FY2018 FY2019

Outlook

  • Higher Revenue and profit due to improved market conditions and product demand
  • Recovery in oil and gas lifted business sentiments despite global trade tensions
  • Global trade tensions set to continue
  • Global Economic outlook is depressed
  • Expect conditions to be challenging but we will stay on course

Focus

  • Remain focused on completion of our secondary facility to provide more storage
  • Monitor and review of our business and subsidiaries
  • Remain financially prudent
  • Well positioned to take advantage of any improved business conditions
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SLIDE 14

Thank you