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Half-Year Financial Statement And Dividend Announcement 2018

Financials Archive

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Unaudited Half-Year Financial Statement And Dividend Announcement

Review of Performance


Revenue from Malaysian publishing operations for the 6 months ended 30 September 2018 increased marginally to S$0.50 million as compared to S$0.48 million in the previous corresponding period.

Other income

Other income increased to S$0.55 million as compared to S$3,000 in HY 2018 due to the bargain purchase arising from the acquisition of a 21.8% shareholding in Auston Technology Group Pte Ltd ("ATG") in August 2018.

Direct costs

Employee compensation decreased by 9.9% to S$0.41 million as compared to S$0.46 million in HY 2018 mainly due to the employee share options expense of S$38,000 in HY 2018.

Operating lease expenses decreased by 46.9% to S$17,000 as compared to S$32,000 in HY 2018 due to a new lease at a lower monthly rental taken up by the Company in December 2017.

Other operating expenses increased by 38.0% to S$0.25 million as compared to S$0.18 million in HY 2018 largely due to higher professional fees incurred in HY 2019 attributable to the shares consolidation.

Profit attributable to shareholders

Profit attributable to shareholders for the period under review was S$0.13 million as compared to a loss of S$0.48 million in the previous corresponding period.

The improved performance was due to the following:

Balance sheet

The decrease in trade and other payables is due to payment to trade and other creditors.


Cash and cash equivalents as at end of period was S$1.79 million as compared to S$2.55 million at the beginning of the period.

Cash used in operating activities was S$0.57 million in HY 2019 .The net operating cash outflow was mainly due to operating profit before working capital changes of S$0.1 million, which was adjusted for bargain purchase arising from acquisition of equity interests from non-controlling shareholders amounting to S$0.55 million and working capital outflows of S$0.15 million, which were mainly attributable to payment of trade and other payables during the period.

Cash used in investing activities was S$0.21 million due to the acquisition of the 21.8% stake in ATG.

The Group had a positive working capital of S$1.73 million as at 30 September 2018 as compared to S$2.34 million as at 31 March 2018.


As previously announced, the Company is actively seeking new business activities, including but not limited to acquisitions that may result in a reverse takeover transaction.

Additionally, the Malaysian publishing operations is cashflow positive and the Group is exploring business opportunities to expand and grow the publishing operations in the region. There are no significant updates relating to the expansion of the publishing operations to Greater China and Singapore and shareholders will be informed when there is any material development.

Balance Sheet

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