TS WONDERS年报 2023

Corporate Information2Chairlady’s Statement5Financial Highlights8Management Discussion and Analysis10Biographical Details of the Directors and Senior Management22Report of the Directors28Corporate Governance Report47Environmental, Social and Governance Report64Independent Auditor’s Report105Consolidated Statement of Profit or Loss and Other Comprehensive Income112Consolidated Statement of Financial Position113Consolidated Statement of Changes in Equity115Consolidated Statement of Cash Flows116Notes to Consolidated Financial Statements118 In the event of any inconsistencies between the English and Chinese text in this annual report, the English text shall prevail. Corporate Information公司資料 EXECUTIVE DIRECTORS Ms. Lim Seow Yen(Chairlady)Mr. Lim Fung YeeMr. Lim Fung ChorMr. Lim Seng Chye (Lin Shengcai) INDEPENDENT NON-EXECUTIVE DIRECTORS Mr. Chan Ka YuMr. Lee Yan FaiMr. Chew Keat Yeow (Zhou Jieyao) AUDIT COMMITTEE Mr. Chan Ka Yu(Chairman)Mr. Lee Yan FaiMr. Chew Keat Yeow (Zhou Jieyao) REMUNERATION COMMITTEE Mr. Lee Yan Fai(Chairman)Mr. Chan Ka YuMr. Chew Keat Yeow (Zhou Jieyao)Mr. Lim Fung Yee NOMINATION COMMITTEE Mr. Chew Keat Yeow(Zhou Jieyao)(Chairman)Mr. Chan Ka YuMr. Lee Yan FaiMr. Lim Fung Chor COMPANY SECRETARY Mr. Chan Hank, Daniel AUTHORISED REPRESENTATIVES Ms. Lim Seow YenMr. Chan Hank, Daniel REGISTERED OFFICE Windward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Windward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands PRINCIPAL PLACE OF BUSINESS IN HONG KONG 1618191901A19021902A Rooms 1901A, 1902 & 1902A, 19/FNew World Tower I16-18 Queen’s Road CentralHong Kong HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS 255 Pandan LoopSingapore 128433 255 Pandan LoopSingapore 128433 PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands HONG KONG BRANCH SHARE REGISTRAR 1617 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong LEGAL ADVISER 1618191901A19021902A Michael Li & Co.Solicitors, Hong KongRooms 1901A, 1902 & 1902A, 19th FloorNew World Tower I16-18 Queen’s Road CentralCentralHong Kong AUDITORS Deloitte & Touche LLP6 Shenton Way, OUE Downtown 2#33-00Singapore 068809 Deloitte & Touche LLPPublic Accountants and Chartered Accountants6 Shenton Way, OUE Downtown 2#33-00Singapore 068809 Corporate Information公司資料 PRINCIPAL BANKERS 12 Marina BoulevardMarina Bay Financial Centre Tower 3Singapore 018982 DBS Bank Ltd12 Marina BoulevardMarina Bay Financial Centre Tower 3Singapore 018982 Taman Desa Cemerlang Branch2, 4 & 6, Jalan Johar 2Taman Desa CemerlangUlu Tiram 81800 JohorMalaysia Public Bank BerhadTaman Desa Cemerlang Branch2, 4 & 6, Jalan Johar 2Taman Desa CemerlangUlu Tiram 81800 JohorMalaysia www.tswonders.com.hk COMPANY WEBSITEwww.tswonders.com.hk 1767 1767 Dear Valued Shareholders, On behalf of the board (the “Board) of directors (“Directors”) of TSWondersHolding Limited(“Company”or“TS Wonders”),it is mypleasure to present to you the annual report of the Company anditssubsidiaries(collectively,“Group”)for the financial year ended31 December 2023 (“FY2023”). TSWonders Holding LimitedTSWonders As I reflect on 2023, I am proud that the Group had adapted to thechallenges of economic uncertainty and the Group had demonstratedits resilience and maintained our profitability. We remain committedto the safety of our workers, quality of our snack products and todelivering value to our stakeholders. FINANCIAL PERFORMANCE 1.1%3.8%1.810.0%19.8 In 2023, the Singapore economy expanded by 1.1%, moderatingfrom the 3.8% growth in 2022. The Group’s gross profits for both nutsand chips had also improved, and gross profits increased by S$1.8million or 10.0% to S$19.8 million for the year ended 31 December2023, despite a decrease in revenue. The Group’s total revenue decreased by approximately S$4.7 millionor 6.3% from approximately S$74.8 million for the year ended 31December 2022 to approximately S$70.1 million for the year ended31 December 2023, mainly due to lower sales for nuts in Singapore,Malaysiaand the PRC(including Hong Kong).The Group’s totalgross profit increased by approximately S$1.8 million or 10.0% fromapproximately S$18.0 million for the year ended 31 December 2022to approximately S$19.8 million for the year ended 31 December2023despite the decrease in revenue.The gross profit marginincreased from approximately 24.0% for the year ended 31 December2022 to 28.2% for the year ended 31 December 2023. The Group’sprofit for the year decreased by approximately S$0.4 million or 6.2%from approximately S$5.8 million for the year ended 31 December2022 to approximately S$5.5 million for the year ended 31 December2023. 74.84.76.3%70.118.01.810.0%19.824.0%28.2%5.80.46.2%5.5 Further explanati