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GDS Global Limited Annual Report 2015
DEAR SHAREHOLDERS,
A year has gone by and I am once again pleased to present to
you the annual report of GDS Global Limited (“
GDS
” or the
“
Company
”) and its subsidiaries (the “
Group
”) for the financial
year ended 30 September 2015 (“
FY2015
”). It has been a choppy
year on many fronts and needless to say, we had to work hard to
stay nimble and respond to the challenges thrown in our path.
Despite this tough operating environment, we managed
a respectable performance in FY2015, completing several
significant projects across the region and more importantly,
maintaining GDS’s position as a leading specialist provider
of commercial and industrial door and shutter solutions in
Singapore and South East Asia. We have also secured a very
healthy order book as at 30 September 2015, providing clear
revenue visibility for the Group as we move into the next financial
year.
With FY2015 behind us, the Board of Directors (the “
Board
”) is
pleased to propose a first and final dividend of 1.0 Singapore
cent per ordinary share for FY2015, which represents a
dividend payout ratio of 34.1% of our net profit attributable to
shareholders.
Year in Review
On the back of S$21.88 million in revenue, GDS recorded a net
profit of S$3.35 million in FY2015, compared to revenue and net
profit of S$23.87 million and S$4.41 million in the financial year
ended 30 September 2014 (“
FY2014
”).
Our topline in FY2015 dipped 8.4% year-on-year from lower sales
of door and shutter systems. This was largely because we did not
have any spill over of sales from delayed projects across financial
years like we did for the financial period between FY2013 to
FY2014.
We provided many door and shutter systems for projects in the
region over the course of FY2015. Some of the notable projects
we worked on at home included the Ng Teng Fong Hospital at
Jurong East, Seagate’s The Shugart at Ayer Rajah Crescent, a
Singapore Polytechnic development and several commercial and
industrial buildings like The Westcom at Tuas South, Tech-Link
Logistics Hub at Jurong West, Win5 @ Yishun and C&P Logistics
Hub at Penjuru Lane amongst others. Overseas, our intensified
marketing efforts bore fruit as we successfully clinched and
delivered sizable contracts supplying accordion doors from our
principal, Won-Door Corporation, to integrated resorts in Macau,
while in Taiwan, we fulfilled several orders of
Gliderol
GIANT
series hangar doors.
