Reported Earnings • Apr 19
Full year 2025 earnings released: S$0.052 loss per share (vs S$0.011 profit in FY 2024) Full year 2025 results: S$0.052 loss per share (down from S$0.011 profit in FY 2024). Revenue: S$51.4m (down 13% from FY 2024). Net loss: S$4.85m (down S$5.86m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • Apr 15
Darco Water Technologies Limited, Annual General Meeting, Apr 29, 2026 Darco Water Technologies Limited, Annual General Meeting, Apr 29, 2026, at 10:00 Singapore Standard Time. Location: 60 cecil street, 03-02 isca house, singapore 049709, Singapore New Risk • Mar 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (S$7.32m market cap, or US$5.72m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Reported Earnings • Mar 03
Full year 2025 earnings released: S$0.052 loss per share (vs S$0.011 profit in FY 2024) Full year 2025 results: S$0.052 loss per share (down from S$0.011 profit in FY 2024). Revenue: S$51.4m (down 13% from FY 2024). Net loss: S$4.85m (down S$5.86m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Feb 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (S$7.32m market cap, or US$5.79m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Reported Earnings • Aug 14
First half 2025 earnings released: S$0.016 loss per share (vs S$0.006 profit in 1H 2024) First half 2025 results: S$0.016 loss per share (down from S$0.006 profit in 1H 2024). Revenue: S$23.0m (down 16% from 1H 2024). Net loss: S$1.55m (down 401% from profit in 1H 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Board Change • Jul 07
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Lead Independent Director Guan Seng Sim is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • May 28
Darco Water Technologies Limited Announces Board and Committee Changes Darco Water Technologies Limited at its minutes of annual general meeting held on 29 April 2025, The Meeting noted that Mr. Wang Yingyang, the incumbent Independent Non-Executive Director of the Company who was retiring by rotation in accordance with Regulation 106 of the Company's Constitution, had indicated to the Board that he would not be seeking re-election at the AGM for personal reasons. Accordingly, Mr. Wang Yingyang would, upon his retirement at the conclusion of the AGM, cease to be an Independent Non-Executive Director of the Company, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee. The Meeting noted that Mr. Niu Liming had been proposed to be appointed as a Director of the Company and was seeking election at the AGM. Mr. Koo informed the shareholders that should the shareholders elect Mr. Niu Liming, Mr. Niu Liming would be appointed as an Independent Non-Executive Director of the Company, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee, and will be considered independent pursuant to Rule 704(8) of the Listing Manual of the SGX-ST. Mr. Koo informed shareholders that additional information on Mr. Niu Liming had been published in the 2024 Annual Report. Reported Earnings • Apr 16
Full year 2024 earnings released: EPS: S$0.011 (vs S$0.058 loss in FY 2023) Full year 2024 results: EPS: S$0.011 (up from S$0.058 loss in FY 2023). Revenue: S$59.1m (down 16% from FY 2023). Net income: S$1.01m (up S$6.43m from FY 2023). Profit margin: 1.7% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Apr 09
Darco Water Technologies Limited, Annual General Meeting, Apr 29, 2025 Darco Water Technologies Limited, Annual General Meeting, Apr 29, 2025. Location: 1 commonwealth lane, 06-01 one commonwealth, singapore 149544, Singapore Board Change • Mar 28
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Lead Independent Director Guan Seng Sim is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: S$0.011 (vs S$0.058 loss in FY 2023) Full year 2024 results: EPS: S$0.011 (up from S$0.058 loss in FY 2023). Revenue: S$59.1m (down 16% from FY 2023). Net income: S$1.01m (up S$6.43m from FY 2023). Profit margin: 1.7% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (S$7.41m market cap, or US$5.49m). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Board Change • Feb 21
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Lead Independent Director Guan Seng Sim is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 05
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Lead Independent Director Guan Seng Sim is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 07
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Lead Independent Director Guan Seng Sim is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Dec 30
Darco Water Technologies Limited Announces Cessation of Zhao Yong Chang as Executive Director, Effective 31 December 2024 Darco Water Technologies Limited announced the cessation of Mr. Zhao Yong Chang as Executive Director. Reason: For Cessation Mr. Zhao Yong Chang is stepping down as an Executive Director of the Company to streamline the size of the Board. Following his resignation on 31 December 2024, Mr. Zhao will remain as the Chief Operating Officer and a member of the Investment Committee of the Company. Job Title: Executive Director, Chief Operating Officer and a member of the Investment Committee of the Company. Other Director Ships Past: Zillionsource Technologies Pte Ltd. Reported Earnings • Apr 14
Full year 2023 earnings released: S$0.058 loss per share (vs S$0.009 profit in FY 2022) Full year 2023 results: S$0.058 loss per share (down from S$0.009 profit in FY 2022). Revenue: S$70.2m (down 9.6% from FY 2022). Net loss: S$5.42m (down S$6.23m from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 22% per year. Announcement • Apr 09
Darco Water Technologies Limited, Annual General Meeting, Apr 24, 2024 Darco Water Technologies Limited, Annual General Meeting, Apr 24, 2024, at 10:00 Singapore Standard Time. Location: 1 Pickering Street, Level 8 Great Eastern Centre, Singapore 048659 Singapore Singapore Agenda: To adopt the Audited Financial Statements and Directors' Statement of the Company and the Group for the financial year ended 31 December 2023; to To approve the payment of the additional Director's fees of S$1,830 for the financial year ended 31 December 2023; to Approval of Directors' fees amounting to S$184,000 for the financial year ending 31 December 2024, payable quarterly in arrears; to Re-election of Mr. Wang Zhi as a Director of the Company; to Re-election of Dr. Zhang Zhenpeng as a Director of the Company ; to Re-election of Mr. Zhao Yong Chang as a Director of the Company ; to Re-election of Mr. Sim Guan Seng as a Director of the Company; to Re-election of Mr. Lai Hock Meng as a Director of the Company; to Re-election of Ms. Gn Jong Yuh Gwendolyn as a Director of the Company; to Authority to allot and issue new Shares in the capital of the Company and/or Instruments; to Authority to grant options and issue shares under the Darco Performance Share Plan. Announcement • Mar 26
Darco Water Technologies Limited Announces Change of Company Secretary The Board of Directors of Darco Water Technologies Limited announced that the Company has accepted the resignation of Mr. Teh Chun Sem as Company Secretary of the Company with effect from 26 March 2024 and appointed Mr. Peter, Tian Ye as Company Secretary of the Company with effect from 26 March 2024 in his place. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (22% accrual ratio). Market cap is less than US$10m (S$8.73m market cap, or US$6.49m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Reported Earnings • Feb 28
Full year 2023 earnings released: S$0.058 loss per share (vs S$0.009 profit in FY 2022) Full year 2023 results: S$0.058 loss per share (down from S$0.009 profit in FY 2022). Revenue: S$70.2m (down 9.6% from FY 2022). Net loss: S$5.42m (down S$6.23m from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. New Risk • Feb 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (22% accrual ratio). Market cap is less than US$10m (S$8.73m market cap, or US$6.49m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Board Change • Feb 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Peter Lai was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Peter Lai was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Peter Lai was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 31
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Peter Lai was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 13
First half 2023 earnings released: EPS: S$0.001 (vs S$0.003 loss in 1H 2022) First half 2023 results: EPS: S$0.001 (up from S$0.003 loss in 1H 2022). Revenue: S$38.7m (up 25% from 1H 2022). Net income: S$48.0k (up S$352.0k from 1H 2022). Profit margin: 0.1% (up from net loss in 1H 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. New Risk • Aug 11
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (22% accrual ratio). Market cap is less than US$10m (S$8.73m market cap, or US$6.47m). Announcement • Jul 21
Darco Water Technologies Limited Announces Change in Composition of the Board of Directors and Board Committees The Board of Directors of Darco Water Technologies Limited refers to the announcements made by the Company on: 28 June 2023 pursuant to Listing Rule 704(7)(a) containing the information contained in Appendix 7.4.2 of the Listing Rules in relation to, inter alia, Ms. Ong Joo Mien Joanna's cessation as an Independent Non- Executive Director of the Company with effect from 1 July 2023. From 18 July 2023 pursuant to Listing Rule 704(7)(a) containing the information contained in Appendix 7.4.1 of the Listing Rules in relation to, inter alia, Mr. Lai Hock Meng's appointment as an Independent Non-Executive Director of the Company with effect from 18 July 2023. Following the aforesaid cessation and appointment, the composition of the Board and the Board Committees with effect from 18 July 2023 shall be as follows: Board of Directors: Mr. Wang Zhi, Executive Director and Executive Chairman; Dr Zhang Zhenpeng, Executive Director and Chief Executive Officer; Mr. Zhao Yong Chang, Executive Director and Chief Operating Officer; Mr. Sim Guan Seng, Lead Independent Director; Ms. Gn Jong Yuh Gwendolyn, Independent Non-Executive Director; Mr. Wang Yingyang, Independent Non-Executive Director; and Mr. Lai Hock Meng, Independent Non-Executive Director. Audit Committee: Mr. Sim Guan Seng, Chairman; Ms Gn Jong Yuh Gwendolyn, Member; Mr. Wang Yingyang, Member; and Mr. Lai Hock Meng, Member. Nominating Committee: Mr. Wang Yingyang, Chairman; Mr. Sim Guan Seng, Member; Ms Gn Jong Yuh Gwendolyn, Member; Mr. Wang Zhi, Member; and Mr. Lai Hock Meng, Member. Remuneration Committee: Ms. Gn Jong Yuh Gwendolyn, Chairman; Mr. Sim Guan Seng, Member; Mr. Wang Yingyang, Member; and Mr. Lai Hock Meng, Member. Investment Committee: Dr. Zhang Zhenpeng, Chairman; Mr. Zhao Yong Chang, Member; and Mr. Peter, Tian Ye, Member. Announcement • Jul 18
Darco Water Technologies Limited Announces Appointment of Lai Hock Meng as Independent Non-Executive Director and Member of the Audit Committee, Nominating Committee and Remuneration Committee Darco Water Technologies Limited Board of Directors having considered the qualifications of Mr. Lai Hock Meng, is of the view that he has the requisite experience and capabilities to assume the responsibilities as an Independent Director of the Company and a member of the Audit Committee, Nominating Committee and Remuneration Committee. Accordingly, the Board of Directors has approved the appointment of Mr. Lai Hock Meng as an Independent Director of the Company and a member of the Audit Committee, Nominating Committee and Remuneration Committee. Job Title; Independent Director of the Company and a member of the Audit Committee, Nominating Committee and Remuneration Committee. Working Experience: HML Consulting Group Pte Ltd, Singapore /Chairman (October 2007 - July 2016) (June 2017 - Present) Success Dragon International Holdings Ltd. /CEO & Executive Director (July 2007 - October 2015) EC World Asset Management Pte Ltd. /CEO & Executive Director (May 2015 - May 2017) PureCircle (Jiangxi) Co., Ltd, Jiangxi, China /Chairman & Legal Representative (May 2017 - May 2020) Riverside Asia Partners Pte Ltd. /Executive Director (November 2017 - February 2020) PureCircle Ltd. /CEO /Executive Director (February 2020 - July 2020). Other Directorships Past: Directorships Delong Holdings Ltd. (SGX) PureCircle Ltd. (LSE) PureCircle (Jiangxi) Co. Ltd. Dragon Group International Ltd. (SGX) Riverside Asia Partners Pte Ltd. Riverside Asia Pacific Fund II Pte Ltd. DCM Asia Pte Ltd. Transcorp Holdings Ltd. (SGX) SB Global Ventures Pte Ltd. Stamford Raffles Consultants Pte Ltd. Global Wellness Group Pte Ltd. Quanshan Capital Management Pte Ltd. Quanshan Investment & Development (Singapore) Pte Ltd. Quanshan Tourism Development Pte Ltd. PureCircle (Shanghai) Co. Ltd. Tee International Ltd. Champ Singapore HoldCo Pte Ltd. Champ Buyout III Pte Ltd. Universal Joy Pte Ltd. Huanghe Holdings Pte Ltd. Amaara Healthtec Pte Ltd. Debao Property Development Ltd. (SGX) Wellbeing Healthtech Pte Ltd. Principal Commitments Independent non-executive director on the board of listed and private investment companies. Consultant on corporate investment and business strategy. Other Directorships Present; Directorships Char Yong (Dabu) Foundation Ltd. HML Consulting Group Pte Ltd. Playhood Pte Ltd. PT Dexin Steel Indonesia Cosmic Capital Ltd. Blue Ocean Capital Partners Pte Ltd. PICADS Sdn Bhd Champ Private Equity Pte Ltd. CPEC 8 Holdings Pte Ltd. HML Acquisitions Pte Ltd. PureCircle Ltd. Casa Holdings Ltd. (SGX) Fantastic Modern Sdn Bhd Genius Chamber Sdn Bhd Casa Property Development Sdn Bhd Principal Commitments Independent non-executive director on the board of listed and private investment companies. Consultant on corporate investment and business strategy. Director Experience Details: Delong Holdings Ltd. Koh Brothers Eco Engineering Ltd. China Energy Ltd. China Essence Group Ltd. Accrelist Ltd. Livingstone Health Holdings Ltd. ASTI Holdings Ltd. Express Holdings Ltd. Transcorp Holdings Ltd. Dragon Group International Ltd. Tee International Ltd. CFM Holdings Ltd. EC World Asset Management Pte Ltd. Debao Property Development Ltd. Casa Holdings Ltd. Professional Qualifications: BA (Honours) in Economics, Cambridge University, UK Chartered Financial Analyst, CFA Institute, USA. Announcement • Jun 29
Darco Water Technologies Limited Announces Cessation of Ong Joo Mien Joanna as Independent Non-Executive Director Darco Water Technologies Limited announced the Cessation of Ong Joo Mien Joanna as Independent Non-Executive Director. Job Title: Independent Non-Executive Director, Chairman of Remuneration Committee and Member of Audit and Nominating Committee. Other DirectorShips Past: Directorships YWS Design Asia Pte.Ltd. Principal Commitments NIL. Other DirectorShips Present: Directorships Asian Pay Television Trust J. Ong Business Services Pte. Ltd. Principal Commitments J. Ong Business Services Pte. Ltd. Reason For Cessation: To focus on other commitments. In addition, the resignation would create an opportunity to add more diversity to the Board. Board Change • Jun 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Zhenpeng Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • May 23
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Zhenpeng Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 17
Darco Water Technologies Limited Announces Cessation of Teh Chun Sem as Financial Controller Darco Water Technologies Limited announced cessation of Teh Chun Sem as Financial Controller. Reported Earnings • Apr 11
Full year 2022 earnings released: EPS: S$0.009 (vs S$0.069 loss in FY 2021) Full year 2022 results: EPS: S$0.009 (up from S$0.069 loss in FY 2021). Revenue: S$77.7m (up 42% from FY 2021). Net income: S$813.0k (up S$7.27m from FY 2021). Profit margin: 1.0% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Board Change • Mar 03
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Zhenpeng Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Zhenpeng Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Zhenpeng Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CEO & Executive Director Zhenpeng Zhang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Executive Chairman Zhi Wang was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 15
Darco Water Technologies Limited Announces Changes in Composition of the Board of Directors and the Board Committees, with Effect from September 15, 2022 Darco Water Technologies Limited announced CHANGES IN COMPOSITION OF THE BOARD OF DIRECTORS AND THE BOARD COMMITTEES in relation to, inter alia,: Mr. Sim Guan Seng's re-designation as the Lead Independent Director of the Company with effect from 15 September 2022; and Mr. Wang Zhi's appointment as the Executive Chairman and an Executive Director of the Company with effect from 15 September 2022. Following the aforesaid re-designation and appointment, the composition of the Board and the Board Committees with effect from 15 September 2022 shall be as follows: Board of Directors: Mr. Sim Guan Seng Lead Independent Director; Mr. Wang Zhi Executive Director and Executive Chairman Mr. Kong Chee Keong Executive Director and Chief Executive Officer; Mr. Zhao Yong Chang Executive Director and Chief Operating Officer; Ms Ong Joo Mien Joanna Independent Non-Executive Director; Ms Gn Jong Yuh Gwendolyn Independent Non-Executive Director; Mr. Wang Yingyang Independent Non-Executive Director; Audit Committee Nominating Committee; Mr. Sim Guan SengChairman Ms Gn Jong Yuh Gwendolyn Chairman; Ms Ong Joo Mien Joanna Member Mr. Sim Guan Seng Member; Ms Gn Jong Yuh Gwendolyn Member Ms Ong Joo Mien Joanna Member; Mr. Wang Yingyang Member Mr. Wang Yingyang Member; Remuneration Committee; Ms Ong Joo Mien Joanna Chairman; Ms Gn Jong Yuh Gwendolyn Member; Mr. Sim Guan Seng Member; Mr. Wang Yingyang Member. Announcement • Aug 30
Darco Water Technologies Limited Announces Appointment of Mr. Wang Yingyang as Independent Director Darco Water Technologies Limited announced Appointment of Mr. Wang Yingyang as Independent Director. Majority members of the Board of Directors, having considered the qualifications and working experience of Mr. Wang Yingyang, is of the view that he has the requisite experience and capabilities to assume the responsibilities as an Independent Director of the Company and a member of the Audit Committee, Nominating Committee and Remuneration Committee. Accordingly, the Board of Directors, by simple majority, has approved the appointment of Mr. Wang Yingyang as an Independent Director of the Company and a member of the Audit Committee, Nominating Committee and Remuneration Committee. Role And Responsibilities: Non-Executive. Job Title: Independent Director of the Company and a member of the Audit Committee, Nominating Committee and Remuneration Committee. Working Experience: CHARTERED ACCOUNTANT AND DIRECTOR OF FINANCE. Other DirectorShips Past DIRECTORSHIPS: 1. DECLOUT (APPOINTED WITH EFFECT FROM 17/6/2018 - 28/08/2018) 2. CB ENTERPRISE PTE LTD (APPOINTED WITH EFFECT FROM 24/12/2020 - 22/06/2021) 3. CBK HOLDINGS II PTE LTD (APPOINTED WITH EFFECT FROM 24/12/2020 - 22/06/2021) 4. UTREE TECHNOLOGY PTE LTD (APPOINTED WITH EFFECT FROM 25/09/2017 - 25/9/2018) PRINCIPAL COMMITMENTS RAFFLES INVESTMENT PARTNERS PTE LTD (DIRECTOR) RIVERSIDE ASIA PARTNERS PTE LTD (INVESTMENT DIRECTOR). Other DirectorShips Present DIRECTORSHIPS: 1. ATLAS TECHNOLOGY MANAGEMENT PTE LTD 2. LEXICO CAPITAL PTE LTD 3. RAFFLES INVESTMENT PARTNERS PTE LTD 4. WESURE INSURANCE BROKERS PTE LTD 5. SOLOMON CORP PTE LTD 6. MOOMIN TRADING PTE LTD 7. GATHERASIA PTE LTD 8. GATHER ASIA INVESTMENTS PTE LTD 9. SINGAPORE CHINESE HIGH SCHOOL 10. BERKSHIRE RE PARTNERS PTE LTD 11. TECHONE DIGITAL SERVICES PTE LTD 12. TECHONE DIGITAL HOLDINGS PTE LTD PRINCIPAL COMMITMENTS ATLAS TECHNOLOGY MANAGEMENT PTE LTD (DIRECTOR) LEXICO CAPITAL PTE LTD (DIRECTOR) Director Experience Details: DECLOUT LIMITED. Professional Qualifications: CHARTERED ACCOUNTANT OF SINGAPORE CHARTERED FINANCIAL ANALYST USA. Announcement • Jun 18
Darco Water Technologies Limited Announces Executive Changes The Board of Directors of Darco Water Technologies Limited announced that the Company has accepted the resignation of Mr. Tan Wei Jie, Joel as Company Secretary of the Company with effect from 17 June 2022 and appointed Ms Shu Shin Yee as Company Secretary of the Company with effect from 17 June 2022 in his place. Board Change • Apr 28
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Joanna Ong is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Apr 19
Darco Water Technologies Limited, Annual General Meeting, Apr 25, 2022 Darco Water Technologies Limited, Annual General Meeting, Apr 25, 2022, at 10:00 Singapore Standard Time. Agenda: To adopt the audited financial statements and directors' statement of the company and the group for the financial year ended December 31, 2021; to approve the directors' fees amounting to S$145,000 for the financial year ending December 31, 2022, payable quarterly in arrears; to consider the re-election of directors of the company; to consider the re-appointment of Crowe Horwath First Trust LLP, Public Accountants and Chartered Accountants, as the company's auditors and to authorize the directors to fix their remuneration; and to consider other matters. Reported Earnings • Apr 14
Full year 2021 earnings released: S$0.069 loss per share (vs S$0.013 profit in FY 2020) Full year 2021 results: S$0.069 loss per share (down from S$0.013 profit in FY 2020). Revenue: S$54.6m (down 30% from FY 2020). Net loss: S$6.45m (down S$7.63m from profit in FY 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Board Change • Mar 08
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Joanna Ong is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jan 30
Darco Water Technologies Limited Provides Earnings Guidance for the Financial Year Ended 31 December 2021 Darco Water Technologies Limited provided earnings guidance for the financial year ended 31 December 2021. For the year, the company expects net loss for FY2021 is mainly attributable to the same reasons set out in the Company's financial results announcement for the half year ended 30 June 2021, namely: the poorer performances of the Group's subsidiaries in China and Malaysia in FY2021 as compared to the previous financial year ended 31 December 2020 as follows: the Group's operations in Malaysia had been negatively impacted to a greater extent thanwas previously expected by developments relating to the COVID-19. Due to the long drawn-out COVID-19 pandemic and fluctuating infection numbers in Malaysia, the Group's subsidiaries in Malaysia had faced business pressures as the majority of tenders that were originally projected to be awarded for FY2021 had been postponed to a later date; and the Group's subsidiaries in China had faced mounting challenges in the face of stiff competition. This intense market competition had resulted in a challenging business environment in China whereby the Group's subsidiary in China had to bid for projects at lower margins; the slower implementation of the Group's pneumatic conveyance systems in Singapore due to the COVID-19 measures imposed by the authorities, with construction costs being higher than usual due to the stringent labour regulations. Board Change • Dec 23
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Joanna Ong is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Joanna Ong is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Oct 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Joanna Ong is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Sep 20
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Joanna Ong is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Aug 17
Darco Water Technologies Limited (SGX : BLR) agreed to acquire Gaoyi Project. Darco Water Technologies Limited (SGX : BLR) agreed to acquire Gaoyi Project on August 10, 2021. Morgan Lewis Stamford LLC acted as due diligence provider to Darco Water Technologies Limited. The acquisition of the Gaoyi Project will be completed by the first quarter of 2022. Executive Departure • Jul 01
Executive Chairman Yaoyu Wang has left the company On the 24th of June, Yaoyu Wang's tenure as Executive Chairman ended after 3.1 years in the role. We don't have any record of a personal shareholding under Yaoyu's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.00 years. Executive Departure • May 04
Non-Executive Deputy Chairman Zhi Wang has left the company On the 28th of April, Zhi Wang's tenure as Non-Executive Deputy Chairman ended after 3.1 years in the role. As of December 2020, Zhi personally held 41.79m shares (S$5.1m worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • Mar 04
Full year 2020 earnings released The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: S$78.1m (up 4.4% from FY 2019). Net income: S$1.25m (up S$10.1m from FY 2019). Profit margin: 1.6% (up from net loss in FY 2019). The move to profitability was primarily driven by lower expenses. Announcement • Jun 22
Wang Zhi acquired additional 14.3% stake in Darco Water Technologies Limited (SGX:BLR) from Wuhan Liankai Investment Co., Ltd for SGD 2.3 million. Wang Zhi acquired additional 14.3% stake in Darco Water Technologies Limited (SGX:BLR) from Wuhan Liankai Investment Co., Ltd for SGD 2.3 million on May 5, 2020. Wang Zhi acquired 13.4 million shares at an offer per share of SGD 0.17.
Wang Zhi completed the acquisition of additional 14.3% stake in Darco Water Technologies Limited (SGX:BLR) from Wuhan Liankai Investment Co., Ltd on May 5, 2020.