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Public company info - Cool Link (Holdings) Limited , 08491.HK
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Cool Link (Holdings) Limited, 08491.HK - Company Profile
Chairman Tan Seow Gee
Share Issued (share) 66,000,000
Par Currency Hong Kong Dollar
Par Value 0.2
Industry Packaged Foods
Corporate Profile Business Summary: The principal activity of the Company is investment holding while the Group is principally engaged in food supplies business. Performance for the year: The Group’s revenue increased by approximately S$3.6 million or approximately 15.2% from approximately S$23.8 million for the year ended 31 December 2019 to approximately S$27.4 million for the year ended 31 December 2020.The Group recorded loss for the year which was decreased by approximately S$0.6 million or approximately 65.0% from approximately S$0.9 million for the year ended 31 December 2019 to approximately S$0.3 million for the year ended 31 December 2020. Business Review: The Group is principally engaged in food supplies business in Singapore. During the year ended 31 December 2020, the Group continued to supply food products to ship chandlers, retailers and customers who are in the food service industry. For the year ended 31 December 2020, the Group recorded a loss of approximately S$0.3 million as compared to a loss of approximately S$0.9 million for the same period in 2019. The decrease in loss was mainly attributable to the (i) increase in gross profit by approximately S$1.1 million; and (ii) increase in other income by approximately S$0.2 million; (iii) decrease in selling and distribution costs by approximately S$0.2 million and offset by the increase in administrative and other operating expenses by approximately S$0.9 million. Prospects: Due to fierce market competition in the industry, the international trading market and the global widespread outbreak of coronavirus disease (COVID-19), the Group anticipates a forthcoming challenging year. Therefore, the Group will continue its effort to promote its brand as well as to provide quality products and seize business and investment opportunities in various regions. The widespread outbreak of coronavirus disease (COVID-19) has occurred globally, including Singapore and Hong Kong. The consequence and impact of this outbreak is still manifesting not only in the loss of human lives but in the potential disruption to economic and social activities in the markets that the Group operates in. In light of the recent outbreak of COVID-19, the Group has also explored new business opportunities to maximize the interest of the Company and its shareholders as a whole and shoulder its corporate social responsibilities on contributing the society as well as fighting the COVID-19. Reference is made to the Announcement dated 5 February 2020, the acquisition of a company engaging in distribution of disinfectant and antiseptic products was completed in the first quarter of 2021. In addition, the Group is taking necessary actions to ensure the impact to the Group's core businesses is minimized, the Group's employees and associates are safe and that the Group's valued customers continue to be served as best as the Group can.

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