Financial Review

Income

The Group's income comprised mainly rental income from souvenir kiosks and food & beverage outlets in Singapore Botanic Gardens and Fort Canning Park. The income for the year was $31.2 million. The increase from last year's income was mainly due to new income sources arising from taking over of non food functions from the former Agri-food and Veterinary Authority.

Income for FY 2019 & FY 2018

	FY 2019	FY 2018	Increase/(Decrease)
Income	$ '000	$ '000	$ '000	% Change
Rental income	9,194	9,032	162	2
Admission charges	1,894	3,123	(1,229)	(39)
Plan fees	2,432	2,626	(194)	(7)
Course fees	1,027	1,456	(429)	(29)
Agency fees	992	748	244	33
Interest income	4,913	3,916	997	25
Carpark income	1,052	1,003	49	5
Certificate and permit fees	2,032	-	2,032	100
Laboratory and inspection fees	1,314	-	1,314	100
Licence fees	2,418	-	2,418	100
Quarantine fees & services	1,273	-	1,273	100
Miscellaneous income	2,696	-	158	6
	31,237	24,442	6,795	28

Operating Expenditure

The Group's operating expenditure for the year was $357.8 million. The 16% increase from last year's expenditure was mainly due to the expenditures relating to the animal and plant related functions taken over from the former Agri-food and Veterinary Authority with effect from 1 April 2019.

Operating Expenditure for FY 2019 & FY 2018

	FY 2019	FY 2018	Increase/(Decrease)
Operating Expenditure	$ '000	$ '000	$ '000	% Change
Staff costs	126,477	104,446	22,031	21
Maintenance of parks	146,781	141,820	4,961	3
Animal and veterinary related expenses	10,379	-	10,379	100
General and administrative expenses	57,576	49,158	8,418	17
Depreciation of property, plant and equipment and right-of-use assets	16,544	12,018	4,526	38
	357,757	307,442	50,315	16

Capital Expenditure

The Group's capital expenditure for the year was $43.6 million. The increase in capital expenditure was mainly due to the improvement works carried out in Singapore Botanic Gardens and Fort Canning Park.

Capital Expenditure for FY 2019 & FY 2018

	FY 2019	FY 2018	Increase/(Decrease)
Capital Expenditure	$ '000	$ '000	$ '000	% Change
Land and other improvements	940	851	89	10
Equipment	1,980	2,620	(640)	(24)
Motor vehicles	113	-	113	100
Development work-in-progress	40,555	25,310	15,245	60
	43,588	28,781	14,807	51

Financial Position

As at 31 March 2020, the Group's total assets stood at $571.2 milion, an increase of 39% over last year. Non-current assets and current assets represent 38% and 62% of total assets respectively. Non-current assets consisted mainly of leasehold land and buildings and structures at Singapore Botanic Gardens and Fort Canning Park as well as the assets taken over from the former Agri-food and Veterinary Authority. Capital and reserve stood at $271.7 million, while non-current liabilities and current liabilities stood at $178.4 million and $121.1 million respectively.

Total Assets

	FY 2019	FY 2018	Increase/(Decrease)
Assets	$ '000	$ '000	$ '000	% Change
Non-current assets	216,107	138,199	77,908	56
Current assets	355,141	273,849	81,292	30
	571.248	412,048	159,200	39

Total Liabilities & Equity

	FY 2019	FY 2018	Increase/(Decrease)
Equity & Liabilities	$ '000	$ '000	$ '000	% Change
Capital & reserves	271,717	211,226	60,491	29
Non-current liabilities	178,441	125,688	52,753	42
Current liabilities	121,090	75,134	45,956	61
	571,248	412,048	159,200	39

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