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 $20.8 million. The decrease from last year's income was mainly due to a decrease in interest income, rental income and miscellaneous income offset by an increase in other sources of income.

Income for FY 2021 & FY 2020

Income for FY 2020 & FY 2019
FY 2021 FY 2020 INCREASE/(DECREASE)
INCOME $ '000 $ '000 $ '000 % CHANGE
Rental income 4,563 5,554 (991) (18)
Admission charges 408 81 327 > 100
Plan fees 1,968 1,585 383 24
Course fees 490 512 (22) (4)
Agency fees 1,375 774 601 78
Interest income 1,624 3,757 (2,133) (57)
Carpark income 900 806 94 12
Certificate and permit fees 2,096 1,537 559 36
Laboratory and inspection fees 1,097 1,006 91 9
Licence fees 2,749 2,414 335 14
Quarantine fees and services 1,316 1,028 288 28
Miscellaneous income 2,202 3,590 (1,388) (39)
20,788 22,644 (1,856) (8)

Operating Expenditure

The Group's operating expenditure for the year was $375.7 million. The 10% increase from last year's expenditure was due to the general increase in all categories of expenses.

Operating Expenditure for FY 2021 & FY 2020

Operating Expenditure for FY 2020 & FY 2019
FY 2021 FY 2020 INCREASE/(DECREASE)
OPERATING EXPENDITURE $ '000 $ '000 $ '000 % CHANGE
Staff costs 139,470 126,634 12,836 10
Maintenance of parks 143,580 127,667 15,913 12
Animal and veterinary related expenses 10,157 8,969 1,188 13
General and administrative expenses 63,426 59,866 3,560 6
Depreciation of property, plant and equipment and right-of-use assets 19,029 17,776 1,253 7
375,662 340,912 34,750 10

Capital Expenditure

The Group's capital expenditure for the year was $22.5 million. The increase in capital expenditure was mainly due to the construction works at Native Plant Nursery, Animal and Plant Health Centre, Pasir Panjang Nursery and increase in the improvement works carried out in Singapore Botanic Gardens.

Capital Expenditure for FY 2021 & FY 2020

Capital Expenditure for FY 2020 & FY 2019
FY 2021 FY 2020 INCREASE/(DECREASE)
CAPITAL EXPENDITURE $ '000 $ '000 $ '000 % CHANGE
Land and other improvements 1,227 923 304 33
Equipment 1,255 824 431 52
Motor vehicles 117 200 (83) (42)
Development work-in-progress 19,867 14,022 5,845 42
22,466 15,969 6,497 41

Financial Position

As at 31 March 2022, the Group's total assets stood at $599.5 milion, a decrease of 3% over last year. Non-current assets and current assets represent 36% and 64% 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 structures at Animal & Plant Health Centre, Animal Quarantine Station and Animal Management Centre. Capital and reserve stood at $323.7 million, while non-current liabilities and current liabilities stood at $158.0 million and $117.7 million respectively.

Total Assets

Total Assets
FY 2021 FY 2020 INCREASE/(DECREASE)
ASSETS $ '000 $ '000 $ '000 % CHANGE
Non-current assets 214,216 210,261 3,955 2
Current assets 385,246 406,206 (20,960) (5)
599,462 616,467 (17,005) (3)

Total Liabilities & Equity

Total Assets
FY 2021 FY 2020 INCREASE/(DECREASE)
EQUITY & LIABILITIES $ '000 $ '000 $ '000 % CHANGE
Capital & reserves 323,719 318,037 5,682 2
Non-current liabilities 158,026 164,642 (6,616) (4)
Current liabilities 117,717 133,788 (16,071) (12)
599,462 616,467 (17,005) (3)