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Consolidated Statement of Changes in Equity
$ in Thousands, $ in Thousands
USD ($)
SGD ($)
Share capital [member]
SGD ($)
Reserves [member]
SGD ($)
Retained earnings [member]
SGD ($)
Equity attributable to owners of parent [member]
SGD ($)
Non-controlling interests [member]
SGD ($)
Beginning balance at Dec. 31, 2019   $ 99,446 $ 0 $ (20,650) $ 120,094 $ 99,444 $ 2
Total comprehensive income for the year:              
Profit for the year   86,094     86,093 86,093 1
Other comprehensive income (loss)   536   717 (181) 536  
Total comprehensive income for the year   86,630   717 85,912 86,629 1
Transfer of profits to legal reserve       90 (90)    
Dividends representing transactions with owners recognized directly in equity   (73,545)     (73,545) (73,545)  
Ending balance at Dec. 31, 2020   112,531 0 (19,843) 132,371 112,528 3
Total comprehensive income for the year:              
Profit for the year   103,842     103,841 103,841 1
Other comprehensive income (loss)   (6,224)   (6,500) 276 (6,224)  
Total comprehensive income for the year   97,618   (6,500) 104,117 97,617 1
Transfer of profits to legal reserve       2 (2)    
Transaction with owners recognized directly in equity:              
Issuance of share capital for cash   502,406 19 502,387   502,406  
Share-based payments expenses   5,253   5,253   5,253  
Distribution to founder   (252,747)   (252,747)   (252,747)  
Effects of translation on other reserve   (1,371)   (1,371)   (1,371)  
Dividend paid to non-controlling interest   (176)         (176)
Total   253,365 19 253,522   253,541 (176)
Proceeds for capital call on non-fully paid-up share capital   192         192
Ending balance at Dec. 31, 2021   463,706 19 227,181 236,486 463,686 20
Total comprehensive income for the year:              
Profit for the year $ 78,044 104,938     104,936 104,936 2
Other comprehensive income (loss)   (13,508)   (14,432) 924 (13,508)  
Total comprehensive income for the year 67,997 91,430   (14,432) 105,860 91,428 2
Transfer of profits to legal reserve       86 (86)    
Transaction with owners recognized directly in equity:              
Share-based payments expenses   19,465   19,465   19,465  
Dividend paid to non-controlling interest   (39)     0 0 (39)
Issuance of shares due to vesting of warrants   910   910   910  
Repurchase of American Depositary Shares   (13,620)   (13,620)   (13,620)  
Total   6,716   6,755 0 6,755 (39)
Ending balance at Dec. 31, 2022 $ 417,858 $ 561,852 $ 19 $ 219,590 $ 342,260 $ 561,869 $ (17)