Datapulse Technology Limited
(Company Registration No. 198002677D)
Condensed Interim Financial Statements
For The Six Months And Full Year Ended
31 July 2024
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Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
Table of Contents
Page | |
A. Condensed interim consolidated statement of profit or loss and | 3 |
other comprehensive income | |
B. Condensed interim statements of financial position | 4 |
C. Condensed interim statements of changes in equity | 5 |
D. Condensed interim consolidated statement of cash flows | 6 |
E. Notes to the condensed interim consolidated financial statements | 7 - 19 |
F. Other information required by Listing Rule Appendix 7.2 | 20 - 23 |
Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
A. Condensed interim consolidated statement of profit or loss and other comprehensive income
Group | |||||||
6 Months Ended | 12 Months Ended | ||||||
Consolidated Statement of Profit or Loss | Note | 31.7.2024 | 31.7.2023 | Change | 31.7.2024 | 31.7.2023 | Change |
$'000 | $'000 | % | $'000 | $'000 | % | ||
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||
Revenue | 3 | 3,014 | 2,814 | 7.1 | 6,152 | 4,469 | 37.7 |
Other income | 4 | 199 | 187 | 6.4 | 421 | 330 | 27.6 |
3,213 | 3,001 | 7.1 | 6,573 | 4,799 | 37.0 | ||
Gain/(Loss) on disposal of investments | 34 | 21 | 61.9 | 34 | (18) | (288.9) | |
Staff costs | (641) | (759) | (15.5) | (1,506) | (1,496) | 0.7 | |
Depreciation | (304) | (140) | 117.1 | (611) | (613) | (0.3) | |
Finance costs | 5 | (18) | (24) | (25.0) | (38) | (51) | (25.5) |
Hotel operating expenses | (1,271) | (1,250) | 1.7 | (2,528) | (2,028) | 24.7 | |
Reversal/(Impairment) of freehold building | 2,910 | (970) | (400.0) | 2,910 | (970) | (400.0) | |
Other operating expenses | (597) | (576) | 3.6 | (1,207) | (1,013) | 19.2 | |
Profit/(Loss) before taxation | 6 | 3,326 | (697) | (577.2) | 3,627 | (1,390) | (360.9) |
Taxation | 7 | 892 | 219 | 307.3 | 892 | 219 | 307.3 |
Profit/(Loss) for the period attributable to owners of | |||||||
the Company | 4,218 | (478) | (982.4) | 4,519 | (1,171) | (485.9) | |
Profit/(Loss) per share attributable to owners of | |||||||
the Company | |||||||
Basic profit/(loss) per share (cents) (1) | 1.76 | (0.22) | 1.89 | (0.53) | |||
Diluted profit/(loss) per share (cents) (2) | 1.28 | (0.15) | 1.38 | (0.38) | |||
Consolidated Statement of Comprehensive Income | |||||||
Profit/(Loss) for the period | 4,218 | (478) | (982.4) | 4,519 | (1,171) | (485.9) | |
Other comprehensive (loss)/income: | |||||||
Items that will not be reclassified to profit or loss | |||||||
Remeasurement of defined benefit obligation | (22) | (13) | 69.2 | (22) | (13) | 69.2 | |
Net (loss)/gain on equity instrument designated at | |||||||
fair value through other comprehensive income | (20) | 1,460 | (101.4) | (20) | 1,460 | (101.4) | |
Items that will be reclassified to profit or loss | |||||||
Foreign currency translation differences relating to | |||||||
foreign subsidiaries | (1,163) | (1,330) | (12.6) | (2,280) | (1,138) | 100.4 | |
Other comprehensive (loss)/income for the period | (1,205) | 117 | (1,129.9) | (2,322) | 309 | (851.5) | |
Total comprehensive income/(loss) for the period | |||||||
attributable to owners of the Company | 3,013 | (361) | (934.6) | 2,197 | (862) | (354.9) |
- The basic profit/(loss) per share for six months and full year ended 31 July 2024 is computed based on weighted average number of ordinary shares (excluding treasury shares) of 239,535,791 and 239,582,103 shares (31 July 2023: 220,494,069 shares).
- The diluted profit/(loss) per share for six months and full year ended 31 July 2024 is computed based on total of weighted average number of ordinary shares (excluding treasury shares) and warrants outstanding (assuming the warrants exercised at the beginning of the period) of 328,520,145 and 328,566,457 shares (31 July 2023: 309,478,423 shares).
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Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
B. Condensed interim statements of financial position
Group | Company | ||||
Note | 31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | |
$'000 | $'000 | $'000 | $'000 | ||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | ||
ASSETS | |||||
Non-current assets | |||||
Property, plant and equipment | 8 | 38,100 | 37,885 | 13 | 15 |
Right-of-use assets | 9 | 98 | 45 | 98 | 45 |
Investment securities | 10 | 4,282 | 4,208 | - | - |
Long-term receivables | 11 | 6,305 | 6,305 | - | - |
Subsidiaries | - | - | 51,368 | 49,646 | |
Deferred tax assets | 509 | 151 | - | - | |
49,294 | 48,594 | 51,479 | 49,706 | ||
Current assets | |||||
Trade and other receivables | 11 | 218 | 323 | 53 | 118 |
Prepayment | 60 | 62 | 51 | 47 | |
Investment securities | 10 | - | 498 | - | 498 |
Cash and bank balances | 14,194 | 13,397 | 11,329 | 11,579 | |
14,472 | 14,280 | 11,433 | 12,242 | ||
TOTAL ASSETS | 63,766 | 62,874 | 62,912 | 61,948 | |
LIABILITIES AND EQUITY | |||||
Non-current liabilities | |||||
Loan and borrowing | 12 | 528 | 1,020 | 528 | 1,020 |
Lease liabilities | 9 | 43 | 1 | 43 | 1 |
571 | 1,021 | 571 | 1,021 | ||
Current liabilities | |||||
Trade and other payables | 13 | 748 | 813 | 226 | 313 |
Current tax payable | 32 | 555 | - | 520 | |
Loan and borrowing | 12 | 500 | 500 | 500 | 500 |
Lease liabilities | 9 | 60 | 47 | 60 | 47 |
1,340 | 1,915 | 786 | 1,380 | ||
Total liabilities | 1,911 | 2,936 | 1,357 | 2,401 | |
Net assets | 61,855 | 59,938 | 61,555 | 59,547 | |
Equity attributable to owners of the | |||||
Company | |||||
Share capital | 14 | 34,736 | 35,016 | 34,736 | 35,016 |
Reserves | 27,119 | 24,922 | 26,819 | 24,531 | |
Total equity | 61,855 | 59,938 | 61,555 | 59,547 | |
TOTAL LIABILITIES AND EQUITY | 63,766 | 62,874 | 62,912 | 61,948 | |
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Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
C. Condensed interim statements of changes in equity
At 1 August 2023
Total comprehensive income
Profit for the period
Other comprehensive loss for the period: Remeasurement of defined benefit obligation Net loss on equity instrument designated at
fair value through other comprehensive income Foreign currency translation differences relating to
foreign subsidiaries
Total other comprehensive loss for the period
Total comprehensive(loss)/income for the period
Transactions with owners, recognised directly in equityPurchase and cancellation of ordinary shares
At 31 July 2024
At 1 August 2022
Total comprehensive loss
Loss for the period
Other comprehensive income/(loss) for the period: Remeasurement of defined benefit obligation Net gain/(loss) on equity instrument designated at
fair value through other comprehensive income Foreign currency translation differences relating to
foreign subsidiaries
Total other comprehensive income/(loss) for the period
Total comprehensive income/(loss) for the period
Transactions with owners, recognised directly in equityIssuance of warrants, net of transaction costs Exercise of warrants
At 31 July 2023
Group
Attributable to owners of the Company
Foreign
Fair value | currency | |||||
Share | Treasury | adjustment | translation | Warrant | Retained | Total |
capital | shares | reserve | reserve | reserve | earnings | equity |
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | $'000 |
35,016 | (187) | (1,047) | (5,912) | 752 | 31,316 | 59,938 |
- | - | - | - | - | 4,519 | 4,519 |
- | - | - | - | - | (22) | (22) |
- | - | (20) | - | - | - | (20) |
- | - | - | (2,280) | - | - | (2,280) |
- | - | (20) | (2,280) | - | (22) | (2,322) |
- | - | (20) | (2,280) | - | 4,497 | 2,197 |
(280) | - | - | - | - | (280) | |
(280) | - | - | - | - | - | (280) |
34,736 | (187) | (1,067) | (8,192) | 752 | 35,813 | 61,855 |
32,992 | (187) | (2,507) | (4,774) | - | 32,500 | 58,024 |
- | - | - | - | - | (1,171) | (1,171) |
- | - | - | - | - | (13) | (13) |
- | - | 1,460 | - | - | - | 1,460 |
- | - | - | (1,138) | - | - | (1,138) |
- | - | 1,460 | (1,138) | - | (13) | 309 |
- | - | 1,460 | (1,138) | - | (1,184) | (862) |
- | - | - | - | 926 | - | 926 |
2,024 | - | - | - | (174) | - | 1,850 |
2,024 | - | - | - | 752 | - | 2,776 |
35,016 | (187) | (1,047) | (5,912) | 752 | 31,316 | 59,938 |
At 1 August 2023
Profit for the period, representing total comprehensive income for the period
Transactions with owners, recognised directly in equity
Purchase and cancellation of ordinary shares
At 31 July 2024
At 1 August 2022
Loss for the period, representing total comprehensive loss for the period
Transactions with owners, recognised directly in equity
Issuance of warrants, net of transaction costs
Exercise of warrants
At 31 July 2023
Company
Share | Treasury | Warrant | Retained | Total |
capital | shares | reserve | earnings | equity |
$'000 | $'000 | $'000 | $'000 | $'000 |
35,016 | (187) | 752 | 23,966 | 59,547 |
- | - | - | 2,288 | 2,288 |
(280) | - | - | - | (280) |
(280) | - | - | - | (280) |
34,736 | (187) | 752 | 26,254 | 61,555 |
32,992 | (187) | - | 29,846 | 62,651 |
- | - | - | (5,880) | (5,880) |
- | - | 926 | - | 926 |
2,024 | - | (174) | - | 1,850 |
2,024 | - | 752 | - | 2,776 |
35,016 | (187) | 752 | 23,966 | 59,547 |
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Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
D. Condensed interim consolidated statement of cash flows
Group | ||
12 Months Ended | ||
31.7.2024 | 31.7.2023 | |
$'000 | $'000 | |
(Unaudited) | (Audited) | |
Operating activities | ||
Profit/(Loss) before taxation | 3,627 | (1,390) |
Adjustments for: | ||
Defined benefit costs | 67 | 58 |
Depreciation of property, plant and equipment and right-of-use assets | 611 | 613 |
Finance costs | 38 | 51 |
(Reversal)/Impairment of freehold building | (2,910) | 970 |
Loss on disposal of plant and equipment | - | 2 |
Interest income | (421) | (329) |
Operating cash flows before movements in working capital | 1,012 | (25) |
Changes in working capital: | ||
Trade and other receivables | 47 | (83) |
Prepayment | 2 | (14) |
Short-term investment securities | 498 | 2,830 |
Trade and other payables | (94) | 242 |
Contribution or benefits paid or retirement benefits | (65) | (69) |
Cash generated from operations | 1,400 | 2,881 |
Tax (paid)/refund | (8) | 68 |
Net cash flows generated from operating activities | 1,392 | 2,949 |
Investing activities | ||
Loans to investee companies | - | (138) |
Interest received | 478 | 259 |
Investment securities | (94) | - |
Purchase of property, plant and equipment | (15) | (53) |
Net cash flows generated from investing activities | 369 | 68 |
Financing activities | ||
Interest paid | (36) | (49) |
Proceeds from issuance of warrants, net of transaction costs | - | 926 |
Proceeds from exercise of warrants | - | 1,850 |
Shares purchased and cancelled | (280) | - |
Repayment of borrowings | (492) | (480) |
Repayment of lease liabilities | (63) | (62) |
Net cash generated (used in)/from financing activities | (871) | 2,185 |
Net increase in cash and cash equivalents | 890 | 5,202 |
Cash and cash equivalents at beginning of financial year | 13,397 | 8,274 |
Effect of exchange rate changes on balances held in foreign currency | (93) | (79) |
Cash and cash equivalents at end of financial year | 14,194 | 13,397 |
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Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
- Notes to the condensed interim consolidated financial statements
-
Corporate information
Datapulse Technology Limited (the "Company") is a limited liability company incorporated and domiciled in Singapore and is listed on the Mainboard of the Singapore Exchange. The registered office and principal place of business of the Company is at 190 Middle Road, #14-01 Fortune Centre, Singapore 188979.
These condensed interim financial statements as at and for the six and twelve months ended 31 July 2024 comprise the Company and its subsidiaries (collectively, the "Group").
The Company's principal activities are investment holding and investment trading. The principal activities of the Group are hotel operations, investment holding, investment trading and the provision of management services. - Basis of preparation
The condensed financial statements for the six and twelve months ended 31 July 2024 have been prepared in accordance with Singapore Financial Reporting Standards (International) ("SFRS(I)") 1-34 Interim Financial Reporting issued by the Accounting Standards Council Singapore. The condensed financial statements do not include all the information required for a complete set of financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and the performance of the Group since the last annual financial statements for the year ended 31 July 2023.
The condensed interim financial statements have been prepared on the historical cost basis except as otherwise described in the notes below.
The condensed interim financial statements have been prepared on a going concern basis, since the directors have verified that there are no financial, operating or other types of indicators that might cast significant doubt upon the Group's ability to meet its obligations in the foreseeable future and particularly within the twelve months from the end of the reporting period.
The condensed interim financial statements are presented in Singapore Dollars ("$") and all values in the tables are rounded to the nearest thousand ("$'000"), except when otherwise indicated.
2.1 Use of estimates and judgements
The preparation of the condensed interim financial statements in conformity with SFRS(I) requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.
Page 7 of 23
Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
- Notes to the condensed interim consolidated financial statements
-
Changes in accounting policies
There were no changes in accounting policies and methods of computation adopted in the condensed interim financial statements for the current reporting period as compared to the most recent audited annual financial statements as at 31 July 2023, except for the adoption of the new standards and amendments which became effective for financial period beginning on or after 1 August 2023. The adoption of these amendments to standards and interpretations do not have a significant impact on the condensed interim financial statements.
A number of new standards, amendments to standards and interpretations that have been issued as of the balance sheet date but are not yet effective for the year ended 31 July 2024 have not been applied in preparing the condensed interim financial statements. The adoption of these new standards, amendments to standards and interpretations are not expected to have a significant impact on the Group's condensed interim financial statements. - Seasonal operations
The Group's businesses are not affected significantly by seasonal or cyclical factors during the financial period. - Segment Information
The Group is organised into the following main business segments: - Investment holding;
- Investments;
- Provision of asset management services; and
- Hotel operations
Management monitors the operating results of its business segments separately for the purpose of making decisions about resource allocation and performance assessment.
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Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
- Notes to the condensed interim consolidated financial statements
3. | Revenue | |||||
Group | ||||||
6 Months Ended | 12 Months Ended | |||||
Note | 31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | ||
$'000 | $'000 | $'000 | $'000 | |||
Revenue from contracts with customers | (a) | 2,989 | 2,806 | 6,118 | 4,419 | |
Dividend income from equity investments at | ||||||
fair value through profit or loss ("FVPL") | 24 | - | 24 | 33 | ||
Interest income on bond investments at FVPL | 1 | 8 | 10 | 17 | ||
3,014 | 2,814 | 6,152 | 4,469 | |||
- Disaggregation of revenue:
Total revenue from | ||||||
contracts with | ||||||
Segments | Hotel | Asset management | customers | |||
12 Months Ended | 31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 |
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
Primary geographical | ||||||
markets | ||||||
Singapore | - | - | 180 | 351 | 180 | 351 |
Korea | 5,938 | 4,068 | - | - | 5,938 | 4,068 |
5,938 | 4,068 | 180 | 351 | 6,118 | 4,419 | |
Major revenue streams | ||||||
Hotel operations revenue | ||||||
- Room | 5,709 | 3,926 | - | - | 5,709 | 3,926 |
- Food and beverage | 147 | 69 | - | - | 147 | 69 |
- Others | 82 | 73 | - | - | 82 | 73 |
Asset management fees | - | - | 180 | 351 | 180 | 351 |
5,938 | 4,068 | 180 | 351 | 6,118 | 4,419 | |
6 Months Ended | 31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 |
$'000 | $'000 | $'000 | $'000 | $'000 | $'000 | |
Primary geographical | ||||||
markets | ||||||
Singapore | - | - | - | 251 | - | 251 |
Korea | 2,989 | 2,555 | - | - | 2,989 | 2,555 |
2,989 | 2,555 | - | 251 | 2,989 | 2,806 | |
Major revenue streams | ||||||
Hotel operations revenue | ||||||
- Room | 2,847 | 2,470 | - | - | 2,847 | 2,470 |
- Food and beverage | 100 | 49 | - | - | 100 | 49 |
- Others | 42 | 36 | - | - | 42 | 36 |
Asset management fees | - | - | - | 251 | - | 251 |
2,989 | 2,555 | - | 251 | 2,989 | 2,806 | |
Page 9 of 23
Datapulse Technology Limited
Condensed Interim Financial Statements For The Six Months And Full Year Ended 31 July 2024
- Notes to the condensed interim consolidated financial statements
4. | Other income | ||||
Group | |||||
6 Months Ended | 12 Months Ended | ||||
31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | ||
$'000 | $'000 | $'000 | $'000 | ||
Fair value loss on short-term investments at FVPL | - | (15) | - | - | |
Interest income | 199 | 201 | 421 | 329 | |
Other income | - | 1 | - | 1 | |
199 | 187 | 421 | 330 | ||
5. | Finance costs | ||||
Group | |||||
6 Months Ended | 12 Months Ended | ||||
31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | ||
$'000 | $'000 | $'000 | $'000 | ||
Interest expenses on bank borrowings | 17 | 23 | 36 | 49 | |
Interest expenses on leases | 1 | 1 | 2 | 2 | |
18 | 24 | 38 | 51 | ||
6. Profit/(Loss) before taxation
Loss before taxation for the period has been arrived at after charging/(crediting) the following items:
Group | ||||
6 Months Ended | 12 Months Ended | |||
31.7.2024 | 31.7.2023 | 31.7.2024 | 31.7.2023 | |
$'000 | $'000 | $'000 | $'000 | |
Annual report and annual general meeting expenses | - | 1 | 17 | 14 |
External audit fees | 31 | 41 | 78 | 78 |
Central Depository and Singapore Exchange Listing | ||||
expenses | 71 | 44 | 139 | 57 |
Contributions to defined contribution plans, included in | ||||
staff costs | 17 | 27 | 46 | 54 |
Directors' fees, included in staff costs | 62 | 83 | 140 | 150 |
Foreign exchange (loss)/gain | 3 | (1) | 4 | - |
(Reversal)/Impairment of freehold building | (2,910) | 970 | (2,910) | 970 |
Management fee expenses | 69 | 71 | 141 | 144 |
Office reinstatement costs | 2 | - | 2 | - |
Operating lease expense | 4 | 7 | 9 | 8 |
Professional fees | 94 | 67 | 232 | 143 |
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