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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, 2020   $ 112,531 [1] $ (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 (loss) income   (6,224)   (6,500) 276 (6,224)  
Total comprehensive income for the year   97,618   (6,500) 104,117 97,617 1
Transactions 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 interests   (176)         (176)
Transfer of profits to legal reserve       2 (2)    
Total   253,365 19 253,524 (2) 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   104,938     104,936 104,936 2
Other comprehensive (loss) income   (13,508)   (14,432) 924 (13,508)  
Total comprehensive income for the year   91,430   (14,432) 105,860 91,428 2
Transactions with owners recognized directly in equity:              
Share-based payments expenses   19,465   19,465   19,465  
Dividend paid to non-controlling interests   (39)         (39)
Issuance of shares due to vesting of warrants   910 [1] 910   910  
Repurchase of American Depositary Shares   (13,620)   (13,620)   (13,620)  
Transfer of profits to legal reserve       86 (86)    
Total   6,716   6,841 (86) 6,755 (39)
Ending balance at Dec. 31, 2022   561,852 19 219,590 342,260 561,869 (17)
Total comprehensive income for the year:              
Profit for the year $ 91,120 120,150     120,149 120,149 1
Other comprehensive (loss) income   (14,633)   (14,586) (47) (14,633)  
Total comprehensive income for the year 80,022 105,517   (14,586) 120,102 105,516 1
Transactions with owners recognized directly in equity:              
Share-based payments expenses   (9,108)   (9,108)   (9,108)  
Dividend paid to non-controlling interests   (40)         (40)
Issuance of shares due to vesting of warrants   1,228 [1] 1,228   1,228  
Repurchase of American Depositary Shares   (9,228)   (9,228)   (9,228)  
Transfer of profits to legal reserve       11 (11)    
Total   (17,148)   (17,097) (11) (17,108) (40)
Ending balance at Dec. 31, 2023 $ 493,115 $ 650,221 $ 19 $ 187,907 $ 462,351 $ 650,277 $ (56)
[1] Amount is less than S$1,000