FJ Benjamin Holdings trace its beginning to a small retailing company founded by FJ
Benjamin, a young man in his twenties in 1959. It has since grown to be one of Asia’s biggest
retail brand management companies. It was listed on the Singapore Stock Exchange in
November 1996. Currently headquartered in Singapore, it manages over 20 iconic brands and
operates 220 stores across Singapore, Malaysia and Indonesia. Much of Singapore’s reputation
as a place to shop for international luxury labels can be attributed to the company’s 35 specialty
designer stores carrying luxury brands such as Céline, Givenchy, Guess, La Senza, Loewe,
Marc Jacobs across Singapore’s key shopping districts.
Source:
1. FJ Benjamin Holdings Ltd 2017/18 Annual Report
2. SGX: Company Information
Required:
Study the financial statements shown on pages 54 – 58 of FJ Benjamin Holdings Ltd 2017/18
Annual Report (found in the link https://www.fjbenjamin.com/pdf/FJ-Benjamin-AR2018.pdf)
and the accompanying notes to the financial statements on pages 61 – 115.
(a) Compute ratios base on the financial statements for 2018 and 2017 using the ACC202 Formula Sheet l. For ratios that require the average figures,
students should use the year-end figures for both years even when the average figures
are available for one year only to ensure consistency and comparability.
Make sure the areas of Profitability, Liquidity, Efficiency and Solvency are covered.
Show all workings.
(13 marks)
(b) Use the results in (a), analyse and comment on the business’s performance and financial
position from the viewpoint of a prospective small retail investor.
(22 marks)
