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Singapore 486118
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About Kingsmen

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Established in 1976, Kingsmen has grown from a local outfit to a regional group with offices in 19 major cities across the Asia Pacific and Middle East regions through its affiliates.

Executive Chairman's Message

Chairman

Dear Shareholders,

2015 will be remembered as the year of testing for the Group's resilience and ability to weather the growing volatility of the global economy.

I am pleased to report that we have performed credibly in FY2015, despite the global economic headwinds. The increasingly tough market sentiment from the start of 2015 pushed us to take a more aggressive stance towards securing projects and developing businesses.

Despite this, our Retail & Corporate Interiors division was still adversely affected by slow demand in the highend luxury retail segment, resulting in a 26.0% decline in the division's revenue to S$129.0 million in FY2015.

Latest News

Benedict Soh
Executive Chairman

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Extracted from Annual Report 2015

Dear Shareholders,

2015 will be remembered as the year of testing for the Group's resilience and ability to weather the growing volatility of the global economy.

I am pleased to report that we have performed credibly in FY2015, despite the global economic headwinds. The increasingly tough market sentiment from the start of 2015 pushed us to take a more aggressive stance towards securing projects and developing businesses.

Despite this, our Retail & Corporate Interiors division was still adversely affected by slow demand in the highend luxury retail segment, resulting in a 26.0% decline in the division's revenue to S$129.0 million in FY2015.

On the other hand, our Exhibitions & Museums division performed well, recording a 26.3% or S$35.8 million increase to S$172.3 million, compared to FY2014. This strong showing partially offset the decline in our Retail & Corporate Interiors division business.

Group revenue in FY2015 was S$327.9 million, a 2.5% decrease from the S$336.4 million recorded in FY2014. Our full year net profit increased 11.2% to S$19.1 million. This included a one-off gain of S$5.9 million from the disposal of interest in Kingsmen C.M.T.I. Public Company Limited and the fair value of the remaining interest in the company.

On the developments for 2015, we expanded our footprint in Southeast Asia by setting up operations in Myanmar, and saw the listing of our Thailand office, Kingsmen C.M.T.I. Public Company Limited, which resulted in positive contribution to our bottom line.

More importantly, we have continued to improve our fulfilment capabilities by upgrading our Johor production facility which we purchased in early FY2015. More recently, we purchased a piece of land in Changi Business Park, on which we intend to build our new Kingsmen headquarters to better serve our expansion needs. Talent development remains a priority, with our people staying at the top of their game through various training programmes conducted at the Kingsmen Academy. We have also placed greater emphasis on cross-selling among our different market segments and ensuring that our service and quality standards consistently meet market expectations.

On the Retail & Corporate Interiors front, we have taken concrete steps to expand our market presence in other retail segments such as affordable luxury, fast fashion, travel retail and F&B, areas of business where there are strong demands.

Looking ahead, we are cautiously optimistic about the outlook for our various business segments in FY2016, despite the challenges posed by global economic uncertainty. As at 31 January 2016, we have secured contracts of S$113 million, of which S$106 million is expected to be recognised in FY2016.

We expect our Exhibitions & Museums division to maintain its momentum and continue to perform well, given the outlook for the exhibitions, events, museums & thematic industries, and the lineup of projects and attractions already secured around the Asia Pacific and Middle East regions.

Our Retail & Corporate Interiors division will continue to embrace and adapt to the changes facing the retail sector. Despite the current challenges in the high-end luxury retail segment, we continue to see opportunities and will continue to serve our clients in those areas. We also see good prospects for interior design and fit-out services in the affordable luxury, fast fashion, travel retail and F&B segments, and we are increasing our marketing and service efforts to secure more projects in these areas.

In appreciation of the support from our loyal shareholders, the Board of Directors is pleased to propose a final dividend of 2.0 cents per ordinary share. Combined with the interim dividend of 1.0 cent per ordinary share paid in September 2015, we would have paid out a total dividend of 3.0 cents per ordinary share for FY2015.

I would like to extend my sincere appreciation to all members of Kingsmen who have contributed and worked very hard to get us through a challenging year. I would also like to express my gratitude to the Board of Directors for their steadfast support and wise counsel throughout the year. Last but not least, I would like to thank our business associates, clients and shareholders for their continued support and faith in us.

We remain committed to delivering on our objectives, pursuing excellence in design, quality and service standards, and in rewarding partnerships. I am confident that together, we can achieve a promising future for Kingsmen.

BENEDICT SOH
Executive Chairman

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Benedict Soh
Chairman

Benedict Soh is dedicated to honing the Group's leadership capabilities and human capital, in addition to his role in charting the Group's strategic direction and exploring new business opportunities. One of two founders of the Group, he has contributed significantly to its growth and has over 40 years of experience in the design & production of interiors, exhibits and marketing communications. Mr. Soh has served IE Singapore, Spring Singapore and the Singapore Tourism Board (STB) for various initiatives to improve Singapore's international standing in Tourism & Exhibition Services. He is currently a trustee of the Migrant Workers Centre and is actively involved as a member of the Investment Panel of Spring Seeds Capital.

A strong proponent of education, Mr. Soh is the Chairman of Tourism & Hospitality Programmes and a member of the Academic Advisory Board at MDIS. He is also a member of the School Advisory Council of Northbrooks Secondary School and SHATEC's Academic & Examination Advisory Council. In 2014, US-based Exhibit Designers & Producers Association (EDPA) conferred the prestigious Hazel Hays Award in recognition of Mr. Soh's outstanding contributions to the trade show industry, in addition to the Lifetime Achievement for Outstanding Contribution to Tourism accorded by STB in 2012. He was the former President of the Rotary Club of Pandan Valley and holds a Master of Business Administration from the University of Hull in the UK.

Simon Ong
Deputy Chairman

Simon Ong spearheads the strategic planning and development of the Group as well as its creative and brand standards. He is one of the Group's two founders and has contributed significantly to its growth. He is currently Chairman of the design cluster in the Manpower, Skills & Training Council of WDA and a member of the advisory board to the Design Business Chamber of Singapore, Interior Designers Confederation of Singapore and Singapore Furniture Industries Council (Design). Mr. Ong was also an IDP member of the DesignSingapore Council and a former board member of the Association of Retail Environments (USA).

An ardent advocate of education, Mr. Ong currently serves as a board director of Nanyang Academy of Fine Arts (NAFA) and a member of the Advisory Board to the School of Design & Environment at the National University of Singapore (NUS). He was the former Chairman of the School Advisory Board of Cedar Girls Secondary School, and once served as a member of the Advisory Board of Temasek Polytechnic School of Design. Mr. Ong also served as President of the Interior Designers Association (Singapore) and Vice-Chairman of the Potong Pasir CC Management Committee. He was awarded a Master of Business Administration from the University of South Australia and a Master in Design from the University of New South Wales, Australia.

Andrew Cheng
Group Chief Executive Officer

Andrew Cheng oversees the Group's day-to-day management, as well as its corporate affairs, business development and strategic planning functions. He has more than 25 years of experience in marketing, sales management, consulting, business development and investor relations. He was the former Honorary Secretary and a Committee Member of the Securities Investors Association (Singapore) and currently serves on the association's Remuneration Sub-Committee. He is also a member of the Dover Park Hospice Communications & Outreach Committee. Andrew has a Bachelor of Economics degree from the University of Tasmania, Australia.

Anthony Chong
Group Managing Director, Exhibitions & Museums

Anthony Chong drives the strategic management and day-to-day operations of the Group's Theme Parks, Museums, Exhibitions and Events businesses. He has more than 35 years of experience in marketing and the fulfilment of different disciplines that encompass world-class attractions, tradeshows, retail interiors and large-scale sporting & corporate events. Anthony holds a Master of Business Administration from Victoria University of Technology, Australia.

Alex Wee
Group Managing Director,
Retail & Corporate Interiors

Alex Wee has more than 25 years of experience in the fulfilment of retail & corporate interior fit-outs, custom fixture manufacturing, and general contracting. He is responsible for the strategic management and day-to-day operations of the Group's Retail & Corporate Interiors business. Alex has a Bachelor of Construction Management (Honours) from University of Newcastle, Australia, and a Master of Science in Marketing & Consumer Insight from Nanyang Technological University, Singapore.

Prabhakaran N. Nair
Independent Director

Prabhakaran N. Nair was appointed Independent Director of the Company in August 2003. He began practicing law in 1974 and is an Advocate and Solicitor of Singapore. Mr. Nair is currently a partner of law firm, Messrs Derrick Wong & Lim BC LLP. He obtained a degree in law from the University of Singapore and is a litigation lawyer specialising in Commercial Litigation, Arbitration and Estates and Trusts matters.

Cynthia Tan
Independent Director

Cynthia Tan was appointed Independent Director of the Company in November 2016. She retired from OCBC in 2015 after 16 years as the Head of Group Human Resources. Prior to her role in OCBC, she headed the HR functions in LVMH DFS and Apple Computer. She was a former lecturer at Ngee Ann Polytechnic's School of Business & Accountancy before joining the private sector. Cynthia is currently a member of the Executive Committee of the Dyslexia Association of Singapore and a Patron for the Youth Council at the Singapore Human Resources Institute. She is a trained Executive Coach from Columbia University and a trained Diversity Practitioner from Cornell University. Cynthia obtained her Diploma in Personnel Management from the University of Cardiff, UK and Master of Business Administration from the University of Hull, UK.

Sebastian Tan
Independent Director

Sebastian Tan was appointed Independent Director of the Company in April 2013. In May 2000, he co-founded Boardroom Limited, a company listed on the Singapore Exchange (SGX). He was the Managing/Finance Director of Boardroom Limited from May 2000 to March 2013. Having retired from Boardroom Limited, he continues to be an Advisor. Prior to May 2000, he was with Ernst & Young Singapore and its affiliates since September 1973. Mr. Tan is currently an Independent Director of Ezra Holdings Limited, Jumbo Group Limited, Vibrant Group Ltd and Wilton Resources Corporation Ltd. He is also a Trustee of Kwan Im Thong Hood Cho Temple and a director of D S Lee Foundation and EtonHouse Foundation Limited. He is a qualified financial professional from the Association of Chartered Certified Accountants of the United Kingdom. He was awarded the Public Service Medal in 1996.

financial
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financial highlights / financial ratios /

Contact Us
Kingsmen Creatives Ltd
Kingsmen Creative Centre
3 Changi South Lane
Singapore 486118
t. (65) 688 000 88
f. (65) 688 000 38
e. info@kingsmen-int.com

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Extracted from Annual Report 2014

Results For the Year
FY2010
S$'000
FY2011
S$'000
FY2012
S$'000
FY2013
S$'000
FY2014
S$'000
Revenue
233,631
260,988
290,190
296,251
336,413
Gross profit
62,421
66,665
72,388
75,972
84,840
Profit before tax
18,256
19,807
21,554
22,005
21,354
Profit net of tax attributable to equity
13,610
16,327
16,914
17,744
17,155
   holders of the Company
 
At Year-end (S$'000)
Total assets
144,119
165,646
179,639
209,498
223,914
Total liabilities
86,175
97,634
102,811
120,226
122,849
Shareholders' funds
55,600
65,418
73,848
85,525
96,747
Cash and cash equivalents
28,029
31,595
51,578
62,160
81,360
Short and long-term borrowings
5,290
5,205
4,645
4,562
6,514
 
Per Share (cents)
Earnings - basic and diluted
7.17
8.56
8.84
9.21
8.84
Dividends
4.00
4.00
4.00
4.00
4.00
Net assets
29.25
34.25
38.53
44.24
49.73
 
Key Ratios (%)
Revenue growth
(3.2)
11.7
11.2
2.1
13.6
Gross profit margin
26.7
25.5
24.9
25.6
25.2
Net profit margin
5.8
6.3
5.8
6.0
5.1
Return on shareholders' funds
25.3
27.0
24.3
22.3
18.8
Debt equity
9.5
8.0
6.3
5.3
6.7


Revenue By Activities

Activities
Year Ended 31 Dec 14
Year Ended 31 Dec 13
S$'000
%
S$'000
%
Exhibitions & Museums
136,455
40.6
103,440
34.9
Retail & Corporate Interiors
174,344
51.8
166,604
56.2
Research & Design
12,928
3.8
11,389
3.9
Alternative Marketing
12,686
3.8
14,818
5.0
Total Revenue
336,413
100.0
296,251
100.0


Turnover By Geography

Revenue
Year Ended 31 Dec 14
Year Ended 31 Dec 13
S$'000
%
S$'000
S$'000
Singapore
138,597
41.2
111,010
37.5
Greater China
93,992
27.9
100,240
33.8
Malaysia
27,728
8.2
20,996
7.1
Vietnam
19,422
5.8
16,092
5.4
Europe
16,397
4.9
604
0.2
Rest of Asia
13,233
3.9
12,316
4.2
US & Canada
11,309
3.4
12,023
4.0
Indonesia
7,805
2.3
15,029
5.1
Middle East
6,955
2.1
6,132
2.1
Others
975
0.3
1,809
0.6
Total Revenue
336,413
100.0
296,251
100.0


Consolidated Income Statement

 
Group
+ / -
%
Year Ended 31 Dec 14 Year Ended 31 Dec 13
S$'000 S$'000
Revenue      
Exhibitions & Museums 136,455 103,440 31.9
Retail & Corporate Interiors 174,344 166,604 4.6
Research & Design 12,928 11,389 13.5
Alternative Marketing 12,686 14,818 (14.4)
       
Total revenue 336,413 296,251 13.6
Cost of sales (251,573) (220,279) 14.2
       
Gross profit 84,840 75,972 11.7
Other items of income      
   Interest income 441 394 11.9
   Other income 5,229 5,012 4.3
Other items of expense      
   Depreciation of property, plant and equipment (2,083) (1,629) 27.9
   Employee benefits expense (54,092) (47,721) 13.4
   Other expenses (13,761) (10,567) 30.2
   Interest expense (241) (276) (12.7)
Share of results of associates 1,021 820 24.5
       
Profit before tax 21,354 22,005 (3.0)
Income tax expense (3,595) (3,623) (0.8)
       
Profit net of tax 17,423 18,382 (3.4)
       
Profit net of tax attributable to      
Equity holders of the Company 17,155 17,744 (3.3)
Non-controlling interests 604 638 (5.3)
       
Profit net of tax 17,759 18,382 (3.4)
       

Revenue

For the financial year ended 31 December 2014 ("FY2014"), the Group recorded revenue of S$336.4 million, an increase of S$40.2 million or 13.6% as compared to S$296.2 million for the previous corresponding financial year ended 31 December 2013 ("FY2013"). This was mainly attributable to organic growth within the Group and revenue contribution from Kingsmen Middle East LLC ("KME") which was accounted for as a subsidiary of the Group with effect from 1 January 2014.

The Exhibitions & Museums division performed well in FY2014 with revenue of S$136.4 million as compared to S$103.4 million in FY2013, an increase of S$33.0 million or 31.9%. The key contributors to the division's revenue were revenue from major projects such as Formula 1 Singapore Grand Prix 2014, FIA Formula E Putrajaya ePrix 2014, Singapore Sports Hub, Singapore Airshow 2014, Food & Hotel Asia 2014, TFWA Asia Pacific Exhibition & Conference 2014, BNP Paribas WTA Finals Singapore presented by SC Global and thematic projects in China.

The Retail & Corporate Interiors division recorded revenue of S$174.3 million in FY2014, an increase of S$7.7 million from S$166.6 million in FY2013. The increase in revenue was due to the continued strong demand for interior design and fit-out services from key accounts such as Shilla, Tiffany & Co., Lotte Group, H&M, Christian Dior, Fendi and Uniqlo.

The Research & Design division continued to grow steadily registering revenue of S$12.9 million in FY2014, an increase of 13.5% as compared to S$11.4 million in FY2013. Key accounts which contributed to the division's revenue included customers and brand names such as Burberry, SKII, Metro and Shilla.

Revenue from the Alternative Marketing division was S$12.7 million in FY2014, reflecting a decrease of S$2.1 million as compared to S$14.8 million in FY2013. The higher revenue in FY2013 was due to the completion of a major one-off project. In FY2014, the division completed projects and events for clients such as BMW, Jurong Health, Heineken and StarHub.

Gross Profit

Gross profit for FY2014 increased by S$8.8 million or 11.7%, from S$76.0 million in FY2013 to S$84.8 million in FY2014. The increase was brought about mainly by higher revenue registered. Gross profit margin was stable at 25.2% in FY2014 as compared to 25.6% in FY2013.

Other Items of Income

Interest income relates mainly to interest income earned from fixed deposits and bank balances placed with banks.

Other income comprises mainly of corporate fee income, other service income, rental income and miscellaneous income.

Other Items of Expenses

Higher operating expenses were incurred in FY2014 as compared to FY2013. The increase was mainly due to the inclusion of KME as a subsidiary of the Group with effect from 1 January 2014, and increases in expenses such as employee benefits expense due to higher headcount and increased average wages, and one-off costs in relation to the settlement of a legal case in China.

Share of Results of Associates

Share of results of associates increased by S$0.2 million or 24.5% from S$0.8 million in FY2013 to S$1.0 million in FY2014. The increase was mainly due to contribution from a new associate, namely Kingsmen C.M.T.I Co., Limited acquired in January 2014.

Profit Net of Tax Attributable to Equity Holders of the Company

Profit net of tax attributable to equity holders of the Company decreased by S$0.6 million or 3.3% from S$17.8 million in FY2013 to S$17.2 million in FY2014, notwithstanding the higher revenue and gross profit registered. This was largely due to the higher operating expenses (such as employee benefits expense and one-off costs in relation to the settlement of a legal case in China) incurred.

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Kingsmen Creative Centre
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t. (65) 688 000 88
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e. info@kingsmen-int.com

No Ratio Available.

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t. (65) 688 000 88
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e. info@kingsmen-int.com

  • REGISTRAR
    Boardroom Corporate & Advisory Services Pte Ltd 50 Raffles Place, #32-01 Singapore Land Tower Singapore 048623

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t. (65) 688 000 88
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Date Type Remarks
Notes
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t. (65) 688 000 88
f. (65) 688 000 38
e. info@kingsmen-int.com

Historical EPS ($) a
NAV ($) b
Historical PE
Price / NAV b
Dividend ($) d
52 Weeks High
Dividend Yield (%) d
52 Weeks Low
Par Value ($)
 
Market Cap (M)
Issued & Paid-up Shares c
Notes
  • Based on latest Full Year results announcement, adjusted for the current number of shares.
  • Based on latest results announcement (Full Year, Half Year or Interim), adjusted for the current number of shares.
  • Rounded to the nearest thousand. Updated on
  • Dividend is based on latest Full Year results announcement, adjusted for current number of shares and excludes special dividend.

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Announce Date
[Date of
Effective
Change]
Buyer / Seller Name
[Type*]
S / W / U ** Bought/
(Sold)
('000)
Price($) After Trade Note
No. of Shares ('000) *** % Held
***
No Insider Trades Available.
* DIR - Director (include Directors of related companies)
SSH - Substantial Shareholder
COY - Company Share Buyback
** S - Shares
W - Warrants
U - Units
R - Rights
*** Direct & Deemed Interests

Notes:

  1. Only trades by directors, substantial shareholders and company share buy back are included in Insider Trades.

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t. (65) 688 000 88
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e. info@kingsmen-int.com

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    The Hour Glass, Singapore


    NTT, ITU Hong Kong

    i-Space, Singapore Science Centre
    We are a leading communications design and production group with operations in 17 offices across the Asia Pacific and Middle East. Today our business covers:

    Research and Design
    Exhibitions and Museums
    Retail and Office Interiors
    Integrated Marketing Communications

    We specialise in the design and production of exhibits for exhibitions, museums, events, environmental graphics and tradeshows, as well as the design and production of interiors for retail stores, eateries and corporate offices. In addition, we also provide Alternative Marketing services to clients.

    Our "one-stop-shop" solution in communication design and production covers research and design, project management, production, installation, warehousing, logistics management and marketing promotion.

    Through this vertical and horizontal integration of services, we are able to provide a full services suite, giving clients the benefits of convenience, creative and cost-effective solutions to maximize the returns on their investment dollar.