Courts Asia Limited, an investment holding company, engages in the retailing of household furniture, furnishings, home appliances, and information technology products in Singapore, Malaysia, and Indonesia. It operates a network of approximately 81 stores in various store formats, including megastores, superstores, departmental stores, and small-format stores. Courts Asia Limited also offers its products through online stores, as well as provides warranty sales and other services, and telecommunications subscription plans. The company was incorporated in 2010 and is based in Singapore. Courts Asia Limited is a subsidiary of Singapore Retail Group Limited.
50 Tampines North Drive 2
Founded in 2010
Courts Asia Limited Announces Audited Consolidated Earnings Results for the Year Ended March 31, 2015
Jul 21 15
Courts Asia Limited announced audited consolidated earnings results for the year ended March 31, 2015. For the year, the company reported sales of SGD 758,549,000 compared to SGD 830,263,000 a year ago. Profit before income tax was SGD 21,916,000 compared to SGD 38,001,000 a year ago. Net profit was SGD 17,362,000 or 3.15 cents per diluted share compared to SGD 28,310,000 or 5.08 cents per basic and diluted share a year ago. Net cash generated from operating activities was SGD 22,461,000 compared to net cash used in operating activities of SGD 7,604,000 a year ago. Additions to property, plant and equipment were SGD 11,317,000 compared to SGD 18,508,000 a year ago. Acquisition of intangible assets was SGD 2,293,000 compared to SGD 1,474,000 a year ago. The lower revenue was due mainly to lower sales in all markets, which was a result of weak consumer sentiment. The lower net profit was mainly attributable to the group's cost efficiency initiatives, which resulted in a one-time impact of SGD 2.2 million, higher exchange loss of SGD 1.3 million from Malaysia and the SGD 5.0 million loss from Indonesia operations. EBITDA was SGD 56,872,000 compared to SGD 68,587,000 a year ago. Return on shareholder's equity, after tax was 5.8% compared to 9.5% for the same period a year ago. Return on shareholder's equity, before tax was 7.4% compared to 12.7% for the same period a year ago.
Courts Asia Limited, Annual General Meeting, Jul 31, 2015
Jul 15 15
Courts Asia Limited, Annual General Meeting, Jul 31, 2015., at 10:00 Singapore Standard Time. Location: Studio Room, Level 4, 50 Tampines North Drive 2. Agenda: To receive and adopt the audited financial statements and the directors' report and auditors' report for the financial year ended 31 March 2015; to approve directors' fees of up to SGD 420,000 (2015: SGD 420,000) for the financial year ending 31 March 2016; to declare a final dividend of 1.29 cents per ordinary share tax-exempt (1-tier) for the financial year ended 31 March 2015; to re-elect directors; to re-appoint Messrs PricewaterhouseCoopers LLP as auditors of the company for the financial year ending 31 March 2016 and to authorize the directors to fix their remuneration; and to transact any other ordinary business which may be properly transacted at an annual general meeting.
Courts Asia Limited Appoints Ibrahim Abdelazim Aboutaleb as Non-Independent and Non-Executive Director
Jun 30 15
Courts Asia Limited announced the appointment of Mr. Ibrahim Abdelazim Aboutaleb as a non-independent and non-executive director of the company, effective June 30, 2015. From June 2010 to present he worked at The International Investor (Kuwait). From 2008 to 2009 he was Assistant CEO of Al Imtiaz Investment Company (Kuwait) and from 2008 to 2008 he was Financial Advisor for the Arab Open University headquarter in Kuwait.