Company Overview of Courts Asia Limited
Courts Asia Limited, an investment holding company, operates as an electrical, information technology, and furniture products retailer in Singapore and Malaysia. It offers household furniture, furnishings, home appliances, and IT products. The company operates a network of 79 stores in various store formats, including megastores, superstores, departmental stores, and small-format stores. It also operates eCourts, an online sales platform; and offers warranty sales and other services. 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
Key Executives for Courts Asia Limited
Chief Executive Officer and Executive Director
Total Annual Compensation: $973.0K
Group Chief Financial Officer and Executive Director
Total Annual Compensation: $536.0K
Compensation as of Fiscal Year 2014.
Courts Asia Limited Key Developments
Courts Asia Limited Announces Changes Within its Executive Committee
Aug 27 14
The Board of Directors of Courts Asia Limited announced portfolio changes to selected members of its senior management team in the Executive Committee ("Exco"). In line with the Group's expansion strategy and changes to the operating environment, five key senior management team members will be taking on additional portfolios while the sixth key personnel will focus on a new portfolio. Restructured Portfolios of selected Exco Members: Mr. Terence Donald O'Connor - Executive Director, Group Chief Executive Officer and CEO of Courts Singapore; Ms. Kee Kim Eng - Executive Director, Group Chief Financial and Information Officer; Mr. Tim Luce - Group Chief Marketing Officer and CEO of Courts Malaysia; Ms. Kiranjeet Kaur - Group Chief Talent and Customer Service Officer; Mr. Chan Yuen Kiong - Group Chief Credit Officer and Advisor to Regional Operations; and Mr. Allard Sjollema - CEO of New Markets. The above changes will take effect from 1 September 2014. Other portfolio appointments within the Exco remain unchanged.
Courts Asia Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2014
Aug 13 14
Courts Asia Limited reported unaudited consolidated earnings results for the first quarter ended June 30, 2014. For the quarter, the company reported sales of SGD 194,104,000 against SGD 197,127,000 for the same period a year ago. Profit before tax was SGD 5,788,000 against SGD 9,050,000 for the same period a year ago. Net profit was SGD 5,080,000 against SGD 7,043,000 for the same period a year ago. Diluted EPS was 0.91 cents against 1.26 cents for the same period a year ago. Net cash used in operating activities was SGD 16,527,000 against SGD 13,901,000 for the same period a year ago. Additions to property, plant and equipment were SGD 2,260,000 against SGD 4,314,000 for the same period a year ago. Additions to intangible assets were SGD 424,000 against SGD 282,000 for the same period a year ago. The fall in sales was mainly due to reduced participation in tradeshow days to focus on margin improvement and lower bulk sales from digital product.
Courts Asia Limited Proposes Final Dividend, Payable on August 19, 2014
Jul 14 14
Courts Asia Limited announced that the Annual General Meeting of shareholders of the company to be held on July 30, 2014, to approve the payment of a tax-exempt (1-tier) final dividend of 0.76 cent per ordinary share in respect of the financial year ended March 31, 2014. The share transfer books and register of members of the company will be closed on 08 August 2014 for the purpose of determining member entitlements to the proposed dividend. The final dividend, if approved by the shareholders at the Annual General Meeting, will be paid on 19 August 2014.
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