Ocean Sky Intl 1B6
Financials
Annual Report 2025
Explore the statements
11 tablesStatements of Financial Position (Group and Company)
28 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment$'000 | 10,565 | 9,964 | 338 | – | PDF p. 52 |
| Investment property$'000 | 14,830 | 14,875 | – | – | PDF p. 52 |
| Investments in subsidiaries$'000 | – | – | 15,271 | 15,329 | PDF p. 52 |
| Investments in joint ventures$'000 | 1,685 | 1,621 | – | – | PDF p. 52 |
| Subtotal$'000 | 27,080 | 26,460 | 15,609 | 15,329 | PDF p. 52 |
| Current assets | |||||
| Inventories$'000 | 172 | 244 | – | – | PDF p. 52 |
| Trade and other receivables$'000 | 15,601 | 17,613 | 15,827 | 20,511 | PDF p. 52 |
| Contract assets$'000 | 10,041 | 8,036 | – | – | PDF p. 52 |
| Cash and cash equivalents$'000 | 16,925 | 14,767 | 10,324 | 7,371 | PDF p. 52 |
| Subtotal$'000 | 42,739 | 40,660 | 26,151 | 27,882 | PDF p. 52 |
| Current liabilities | |||||
| Trade and other payables$'000 | 10,638 | 7,946 | 16,981 | 16,991 | PDF p. 52 |
| Contract liabilities$'000 | 75 | 225 | – | – | PDF p. 52 |
| Provisions$'000 | 123 | 190 | – | – | PDF p. 52 |
| Bank term loans$'000 | 9,672 | 1,403 | – | – | PDF p. 52 |
| Lease liabilities$'000 | 525 | 329 | 67 | 19 | PDF p. 52 |
| Current income tax payable$'000 | 506 | 707 | – | – | PDF p. 52 |
| Subtotal$'000 | 21,539 | 10,800 | 17,048 | 17,010 | PDF p. 52 |
| Net current assets | |||||
| Net current assets$'000 | 21,200 | 29,860 | 9,103 | 10,872 | PDF p. 52 |
| Non-current liabilities | |||||
| Bank term loans$'000 | 3,936 | 13,525 | – | – | PDF p. 52 |
| Lease liabilities$'000 | 2,019 | 1,679 | 143 | 15 | PDF p. 52 |
| Deferred tax liabilities$'000 | 149 | 229 | – | – | PDF p. 52 |
| Subtotal$'000 | 6,104 | 15,433 | 143 | 15 | PDF p. 52 |
| Net assets | |||||
| Net assets$'000 | 42,176 | 40,887 | 24,569 | 26,186 | PDF p. 52 |
| Equity | |||||
| Share capital$'000 | 55,169 | 55,169 | 55,169 | 55,169 | PDF p. 52 |
| Treasury shares$'000 | (22) | – | (22) | – | PDF p. 52 |
| Foreign currency translation reserve$'000 | (484) | (266) | – | – | PDF p. 52 |
| Accumulated losses$'000 | (12,487) | (14,016) | (30,578) | (28,983) | PDF p. 52 |
| Equity attributable to owners of the parent$'000 | 42,176 | 40,887 | 24,569 | 26,186 | PDF p. 52 |
Definitions & sources
Original report: PDF p. 52 ↗
The accompanying notes form an integral part of these financial statements.
As at 31 December 2025. Foreign currency translation reserve label wraps across two lines in source ('Foreign currency translation' / 'reserve'); numeric quote is from the second line.
Consolidated Statement of Comprehensive Income (Group)
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$'000 | 38,558 | 30,327 | PDF p. 53 |
| Cost of services$'000 | (31,995) | (24,814) | PDF p. 53 |
| Gross profit$'000 | 6,563 | 5,513 | PDF p. 53 |
| Other income$'000 | 774 | 743 | PDF p. 53 |
| Administrative and other operating expenses$'000 | (4,928) | (5,194) | PDF p. 53 |
| Finance costs$'000 | (789) | (965) | PDF p. 53 |
| Share of results of joint ventures, net of tax$'000 | 32 | 260 | PDF p. 53 |
| Profit before income tax$'000 | 1,652 | 357 | PDF p. 53 |
| Income tax expense$'000 | (123) | (445) | PDF p. 53 |
| Profit/(Loss) for the financial year attributable to owners of the parent$'000 | 1,529 | (88) | PDF p. 53 |
| Other comprehensive income | |||
| – Exchange differences on translating foreign operations$'000 | (218) | 469 | PDF p. 53 |
| Other comprehensive income for the financial year, net of tax$'000 | (218) | 469 | PDF p. 53 |
| Total comprehensive income | |||
| Total comprehensive income for the financial year attributable to owners of the parent$'000 | 1,311 | 381 | PDF p. 53 |
| Profit/(Loss) per share (cents) | |||
| – Basic and dilutedcents per share | 0.36 | (0.02) | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
For the financial year ended 31 December 2025. Item that may be reclassified subsequently to profit or loss: exchange differences. The accompanying notes form an integral part of these financial statements.
No separate Company income statement is presented in the report.
Consolidated Statement of Comprehensive Income
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Income | |||
| Revenue$'000 | 38,558 | 30,327 | PDF p. 53 |
| Cost of services$'000 | (31,995) | (24,814) | PDF p. 53 |
| Gross profit$'000 | 6,563 | 5,513 | PDF p. 53 |
| Other income$'000 | 774 | 743 | PDF p. 53 |
| Administrative and other operating expenses$'000 | (4,928) | (5,194) | PDF p. 53 |
| Finance costs$'000 | (789) | (965) | PDF p. 53 |
| Share of results of joint ventures, net of tax$'000 | 32 | 260 | PDF p. 53 |
| Profit before income tax$'000 | 1,652 | 357 | PDF p. 53 |
| Income tax expense$'000 | (123) | (445) | PDF p. 53 |
| Other comprehensive income | |||
| Exchange differences on translating foreign operations$'000 | (218) | 469 | PDF p. 53 |
| Other comprehensive income for the financial year, net of tax$'000 | (218) | 469 | PDF p. 53 |
| Profit/(Loss) per share (cents) | |||
| – Basic and dilutedcents | 0.36 | (0.02) | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Profit/(Loss) per share in cents. Profit attributable to owners of the parent.
Consolidated Statement of Changes in Equity - Group, year ended 31 December 2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital $'000 | 2025Group, Treasury shares $'000 | 2025Group, Foreign currency translation reserve $'000 | 2025Group, Accumulated losses $'000 | 2025Group, Equity attributable to owners of the parent $'000 | Source |
|---|---|---|---|---|---|---|
| Group 2025 | ||||||
| Balance at 1 January 2025$'000 | 55,169 | – | (266) | (14,016) | 40,887 | PDF p. 54 |
| Profit for the financial year$'000 | – | – | – | 1,529 | 1,529 | PDF p. 54 |
| Group 2025 - Other comprehensive income | ||||||
| Exchange differences on translating foreign operations$'000 | – | – | (218) | – | (218) | PDF p. 54 |
| Group 2025 | ||||||
| Total other comprehensive income for the financial year$'000 | – | – | (218) | – | (218) | PDF p. 54 |
| Total comprehensive income for the financial year$'000 | – | – | (218) | 1,529 | 1,311 | PDF p. 54 |
| Group 2025 - Transactions with owners | ||||||
| Purchase of treasury shares (Note 16)$'000 | – | (22) | – | – | (22) | PDF p. 54 |
| Group 2025 | ||||||
| Total transaction with owners, recognised directly in equity$'000 | – | (22) | – | – | (22) | PDF p. 54 |
| Balance at 31 December 2025$'000 | 55,169 | (22) | (484) | (12,487) | 42,176 | PDF p. 54 |
Definitions & sources
Original report: PDF p. 54 ↗
No non-controlling interests column printed; all equity attributable to owners of the parent.
Consolidated Statement of Changes in Equity - Group, year ended 31 December 2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, Share capital $'000 | 2024Group, Treasury shares $'000 | 2024Group, Foreign currency translation reserve $'000 | 2024Group, Accumulated losses $'000 | 2024Group, Equity attributable to owners of the parent $'000 | Source |
|---|---|---|---|---|---|---|
| Group 2024 | ||||||
| Balance at 1 January 2024$'000 | 55,169 | – | (735) | (13,928) | 40,506 | PDF p. 54 |
| Loss for the financial year$'000 | – | – | – | (88) | (88) | PDF p. 54 |
| Group 2024 - Other comprehensive income | ||||||
| Exchange differences on translating foreign operations$'000 | – | – | 469 | – | 469 | PDF p. 54 |
| Group 2024 | ||||||
| Total other comprehensive income for the financial year$'000 | – | – | 469 | – | 469 | PDF p. 54 |
| Total comprehensive income for the financial year$'000 | – | – | 469 | (88) | 381 | PDF p. 54 |
| Balance at 31 December 2024$'000 | 55,169 | – | (266) | (14,016) | 40,887 | PDF p. 54 |
Definitions & sources
Original report: PDF p. 54 ↗
Comparative year.
Consolidated Statement of Cash Flows (operating and investing)
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before income tax$'000 | 1,652 | 357 | PDF p. 55 |
| Operating activities - Adjustments | |||
| Depreciation of property, plant and equipment$'000 | 972 | 926 | PDF p. 55 |
| Fair value loss on investment property$'000 | 745 | 188 | PDF p. 55 |
| Gain on disposal of property, plant and equipment$'000 | (151) | (247) | PDF p. 55 |
| Interest expense$'000 | 789 | 965 | PDF p. 55 |
| Interest income$'000 | (203) | (361) | PDF p. 55 |
| Property, plant and equipment written off$'000 | 2 | 12 | PDF p. 55 |
| Provision (reversed)/made for defects liability$'000 | (52) | 55 | PDF p. 55 |
| Provision for penalty and interest written back$'000 | (279) | – | PDF p. 55 |
| Share of results of joint ventures$'000 | (32) | (260) | PDF p. 55 |
| Unrealised foreign exchange gain$'000 | – | (7) | PDF p. 55 |
| Operating activities | |||
| Operating cash flows before working capital changes$'000 | 3,443 | 1,628 | PDF p. 55 |
| Operating activities - Working capital changes | |||
| Inventories$'000 | 72 | (22) | PDF p. 55 |
| Trade and other receivables$'000 | (2,964) | (1,580) | PDF p. 55 |
| Contract assets and contract liabilities$'000 | (2,155) | 139 | PDF p. 55 |
| Trade and other payables$'000 | 2,971 | 697 | PDF p. 55 |
| Provisions$'000 | (15) | (97) | PDF p. 55 |
| Operating activities | |||
| Net cash generated from operations$'000 | 1,352 | 765 | PDF p. 55 |
| Income taxes paid$'000 | (403) | (234) | PDF p. 55 |
| Net cash from operating activities$'000 | 949 | 531 | PDF p. 55 |
| Investing activities | |||
| Purchase of property, plant and equipment$'000 | (606) | (296) | PDF p. 55 |
| Proceeds from disposals of property, plant and equipment$'000 | 156 | 249 | PDF p. 55 |
| Repayment from joint ventures$'000 | 4,976 | 2,020 | PDF p. 55 |
| Increase in investment property$'000 | (450) | (364) | PDF p. 55 |
| Interest received$'000 | 203 | 361 | PDF p. 55 |
| Net cash from investing activities$'000 | 4,279 | 1,970 | PDF p. 55 |
Definitions & sources
Original report: PDF p. 55 ↗
Consolidated Statement of Cash Flows (financing and closing cash)
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Financing activities | |||
| Interest paid$'000 | (789) | (965) | PDF p. 56 |
| Purchase of treasury shares$'000 | (22) | – | PDF p. 56 |
| Repayment of bank borrowings (Note A)$'000 | (1,375) | (2,452) | PDF p. 56 |
| Repayment of lease liabilities (Note A)$'000 | (438) | (292) | PDF p. 56 |
| Net cash used in financing activities$'000 | (2,624) | (3,709) | PDF p. 56 |
| Cash | |||
| Net change in cash and cash equivalents$'000 | 2,604 | (1,208) | PDF p. 56 |
| Cash and cash equivalents at beginning of financial year$'000 | 14,767 | 15,896 | PDF p. 56 |
| Effect of foreign exchange rate changes on cash and cash equivalents$'000 | (446) | 79 | PDF p. 56 |
| Cash and cash equivalents at end of financial year (Note 9)$'000 | 16,925 | 14,767 | PDF p. 56 |
Definitions & sources
Original report: PDF p. 56 ↗
Note A reconciliation of liabilities from financing activities is printed on this page but not extracted as rows.
Financial Highlights (five-year summary)
13 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group FY2021 | 2022Group FY2022 | 2023Group FY2023 | 2024Group FY2024 | 2025Group FY2025 | Source |
|---|---|---|---|---|---|---|
| Summarised Comprehensive Income Statement | ||||||
| RevenueS$'000 | 23,625 | 30,408 | 31,542 | 30,327 | 38,558 | PDF p. 6 |
| Gross profitS$'000 | 4,913 | 4,135 | 4,195 | 5,513 | 6,563 | PDF p. 6 |
| Profit/(Loss) before income taxS$'000 | 939 | (634) | (2,350) | 357 | 1,652 | PDF p. 6 |
| Net profit/(loss) attributable to owners of the parentS$'000 | 683 | (729) | (2,691) | (88) | 1,529 | PDF p. 6 |
| Summarised Financial Position Statement | ||||||
| Non-current assetsS$'000 | 50,010 | 36,282 | 27,620 | 26,460 | 27,080 | PDF p. 6 |
| Current assetsS$'000 | 26,747 | 38,747 | 41,411 | 40,660 | 42,739 | PDF p. 6 |
| Current liabilitiesS$'000 | (9,963) | (22,713) | (10,228) | (10,800) | (21,539) | PDF p. 6 |
| Non-current liabilitiesS$'000 | (22,730) | (8,970) | (18,297) | (15,433) | (6,104) | PDF p. 6 |
| Net AssetsS$'000 | 44,064 | 43,346 | 40,506 | 40,887 | 42,176 | PDF p. 6 |
| Financial Ratios | ||||||
| Earnings/(Loss) per share (SGD cents)SGD cents | 0.16 | (0.17) | (0.62) | (0.02) | 0.36 | PDF p. 6 |
| Profit/(Loss) before income tax margin (%)% | 4.0 | (2.1) | (7.5) | 1.2 | 4.3 | PDF p. 6 |
| Net profit/(loss) margin (%)% | 2.9 | (2.4) | (8.5) | (0.3) | 4.0 | PDF p. 6 |
| Net tangible assets per share (SGD cents)SGD cents | 10.23 | 10.07 | 9.41 | 9.50 | 9.81 | PDF p. 6 |
Definitions & sources
Original report: PDF p. 6 ↗
Units: S$'000 except ratios; EPS and NTA per share in SGD cents; margins in %. Parentheses denote negatives/liabilities as printed.
Note 24 Earnings/(Loss) per share
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Profit/(Loss) | |||
| Profit/(Loss) for the financial year attributable to owners of the parent ($’000)$'000 | 1,529 | (88) | PDF p. 89 |
| Number of shares | |||
| Weighted average number of ordinary shares for the purpose of basic earnings/(loss) per share and diluted earnings/(loss) per share (’000)'000 shares | 430,570 | 430,610 | PDF p. 89 |
| Earnings/(Loss) per share | |||
| Basic and diluted (cents)cents | 0.36 | (0.02) | PDF p. 89 |
Definitions & sources
Original report: PDF p. 89 ↗
The diluted earnings per share (2024: diluted loss per share) is the same as the basic earnings per share (2024: basic loss per share) as the Company does not have any dilutive potential ordinary shares in the current and previous financial years.
Appendix 1 – Financial effects of Share Purchase Mandate: On-Market Purchases (illustrative, as at 31 December 2025)
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company before share purchases | 2025Company after share purchases (illustrative) | 2025Group before share purchases | 2025Group after share purchases (illustrative) | Source |
|---|---|---|---|---|---|
| As at 31 December 2025 | |||||
| Shareholders’ fundsS$'000 | 24,569 | 22,765 | 42,176 | 40,372 | PDF p. 115 |
| Net tangible assetsS$'000 | 24,569 | 22,765 | 42,176 | 40,372 | PDF p. 115 |
| Current assetsS$'000 | 26,151 | 24,347 | 42,739 | 40,935 | PDF p. 115 |
| Current liabilitiesS$'000 | 17,048 | 17,048 | 21,539 | 21,539 | PDF p. 115 |
| Net current assetsS$'000 | 9,103 | 7,299 | 21,200 | 19,396 | PDF p. 115 |
| Total borrowingsS$'000 | 210 | 210 | 16,152 | 16,152 | PDF p. 115 |
| Cash and cash equivalentsS$'000 | 10,324 | 8,520 | 16,925 | 15,121 | PDF p. 115 |
| Number of shares (’000)'000 shares | 430,610 | 430,610 | 430,610 | 430,610 | PDF p. 115 |
| Treasury shares (’000)'000 shares | 1,025 | 43,984 | 1,025 | 43,984 | PDF p. 115 |
| Financial Ratios | |||||
| Net tangible assets per share (SGD cents)SGD cents | 5.72 | 5.89 | 9.82 | 10.44 | PDF p. 115 |
| Basic (loss)/earnings per share (SGD cents)SGD cents | (0.37) | (0.41) | 0.36 | 0.39 | PDF p. 115 |
| Current ratio (times)times | 1.53 | 1.43 | 1.98 | 1.90 | PDF p. 115 |
Definitions & sources
Original report: PDF p. 115 ↗
Gearing ratio is equal to net borrowings divided by shareholders’ funds. Net borrowings is total borrowings less cash and cash equivalents. (2) Not meaningful
Illustrative only; assumes full exercise of Share Purchase Mandate (42,958,488 Shares) at maximum price S$0.042.
Appendix 1 – Financial effects of Share Purchase Mandate: Off-Market Purchases (illustrative, as at 31 December 2025)
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company before share purchases | 2025Company after share purchases (illustrative) | 2025Group before share purchases | 2025Group after share purchases (illustrative) | Source |
|---|---|---|---|---|---|
| As at 31 December 2025 | |||||
| Shareholders’ fundsS$'000 | 24,569 | 22,507 | 42,176 | 40,114 | PDF p. 116 |
| Net tangible assetsS$'000 | 24,569 | 22,507 | 42,176 | 40,114 | PDF p. 116 |
| Current assetsS$'000 | 26,151 | 24,089 | 42,739 | 40,677 | PDF p. 116 |
| Current liabilitiesS$'000 | 17,048 | 17,048 | 21,539 | 21,539 | PDF p. 116 |
| Net current assetsS$'000 | 9,103 | 7,041 | 21,200 | 19,138 | PDF p. 116 |
| Total borrowingsS$'000 | 210 | 210 | 16,152 | 16,152 | PDF p. 116 |
| Cash and cash equivalentsS$'000 | 10,324 | 8,262 | 16,925 | 14,863 | PDF p. 116 |
| Number of shares (’000)'000 shares | 430,610 | 430,610 | 430,610 | 430,610 | PDF p. 116 |
| Treasury shares (’000)'000 shares | 1,025 | 43,984 | 1,025 | 43,984 | PDF p. 116 |
| Financial Ratios | |||||
| Net tangible assets per share (SGD cents)SGD cents | 5.72 | 5.82 | 9.82 | 10.38 | PDF p. 116 |
| Basic (loss)/earnings per share (SGD cents)SGD cents | (0.37) | (0.41) | 0.36 | 0.39 | PDF p. 116 |
| Current ratio (times)times | 1.53 | 1.41 | 1.98 | 1.89 | PDF p. 116 |
Definitions & sources
Original report: PDF p. 116 ↗
Gearing ratio is equal to net borrowings divided by shareholders’ funds. Net borrowings is total borrowings less cash and cash equivalents. (2) Not meaningful
Illustrative only; assumes maximum price S$0.049 for Off-Market Purchases.
Where the money comes from
Segment information
By business
Segment reporting 2025 - business segments 12 lines
| Item / unit | 2025Civil engineering and infrastructure construction | 2025Property | 2025Unallocated | 2025Consolidated | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue from external customers$'000 | 37,337 | 1,221 | – | 38,558 | PDF p. 92 |
| Total revenue$'000 | 37,337 | 1,221 | – | 38,558 | PDF p. 92 |
| Results | |||||
| Segment results$'000 | 4,023 | 370 | (470) | 3,923 | PDF p. 92 |
| Interest income$'000 | 56 | 41 | 106 | 203 | PDF p. 92 |
| Interest expense$'000 | (227) | (556) | (6) | (789) | PDF p. 92 |
| Depreciation of property, plant and equipment$'000 | (941) | – | (31) | (972) | PDF p. 92 |
| Share of results of joint ventures$'000 | – | 32 | – | 32 | PDF p. 92 |
| Fair value loss on investment property$'000 | – | (745) | – | (745) | PDF p. 92 |
| Profit/(Loss) before income tax$'000 | 2,911 | (858) | (401) | 1,652 | PDF p. 92 |
| Capital expenditure | |||||
| Additions to non-current assets$'000 | 1,211 | 450 | 369 | 2,030 | PDF p. 92 |
| Assets and liabilities | |||||
| Segment assets$'000 | 39,522 | 19,561 | 10,736 | 69,819 | PDF p. 92 |
| Segment liabilities$'000 | 17,542 | 9,523 | 429 | 27,494 | PDF p. 92 |
Notes
Income tax expense, profit for the year, deferred tax liabilities and total liabilities are printed only in the Consolidated column.
Notes on page 93: A. Unallocated segment results comprise mainly Corporate Headquarter expenses. B. Additions to non-current assets consist of additions to property, plant and equipment and investment property. C. Unallocated segment assets comprise mainly cash and bank balances held at the Corporate Headquarter. D. Unallocated segment liabilities comprise mainly trade and other payables at the Corporate Headquarter.
Segment reporting 2024 - business segments 12 lines
| Item / unit | 2024Civil engineering and infrastructure construction | 2024Property | 2024Unallocated | 2024Consolidated | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| Revenue from external customers$'000 | 29,248 | 1,079 | – | 30,327 | PDF p. 93 |
| Total revenue$'000 | 29,248 | 1,079 | – | 30,327 | PDF p. 93 |
| Results | |||||
| Segment results$'000 | 3,644 | (64) | (1,765) | 1,815 | PDF p. 93 |
| Interest income$'000 | 103 | 35 | 223 | 361 | PDF p. 93 |
| Interest expense$'000 | (314) | (649) | (2) | (965) | PDF p. 93 |
| Depreciation of property, plant and equipment$'000 | (895) | – | (31) | (926) | PDF p. 93 |
| Share of results of joint ventures$'000 | – | 260 | – | 260 | PDF p. 93 |
| Fair value loss on investment property$'000 | – | (188) | – | (188) | PDF p. 93 |
| Profit/(Loss) before income tax$'000 | 2,538 | (606) | (1,575) | 357 | PDF p. 93 |
| Capital expenditure | |||||
| Additions to non-current assets$'000 | 533 | 364 | – | 897 | PDF p. 93 |
| Assets and liabilities | |||||
| Segment assets$'000 | 36,052 | 23,644 | 7,424 | 67,120 | PDF p. 93 |
| Segment liabilities$'000 | 15,418 | 10,329 | 257 | 26,004 | PDF p. 93 |
Notes
Income tax expense, loss for the year, deferred tax liabilities and total liabilities are printed only in the Consolidated column.
Notes: A. Unallocated segment results comprise mainly Corporate Headquarter expenses. B. Additions to non-current assets consist of additions to property, plant and equipment and investment property. C. Unallocated segment assets comprise mainly cash and bank balances held at the Corporate Headquarter. D. Unallocated segment liabilities comprise mainly trade and other payables at the Corporate Headquarter.
By geography
Revenue by geographical market 2 lines
| Item / unit | 2025Singapore | 2025Australia | 2025Consolidated | Source |
|---|---|---|---|---|
| 2025 | ||||
| Civil engineering and infrastructure construction$'000 | 37,337 | – | 37,337 | PDF p. 94 |
| Property$'000 | – | 1,221 | 1,221 | PDF p. 94 |
Notes
2024 comparative rows are in a separate table.
Revenue by geographical market 2 lines
| Item / unit | 2025Singapore | 2025Australia | 2025Consolidated | 2024Singapore | 2024Australia | 2024Consolidated | Source |
|---|---|---|---|---|---|---|---|
| Civil engineering and infrastructure construction$'000 | 37,337 | – | 37,337 | 29,248 | – | 29,248 | PDF p. 94 |
| Property$'000 | – | 1,221 | 1,221 | – | 1,079 | 1,079 | PDF p. 94 |
Notes
2024 comparative rows are in a separate table.
Location of non-current assets 1 lines
| Item / unit | 2025Singapore | 2025Australia | 2025Cambodia | 2025Consolidated | Source |
|---|---|---|---|---|---|
| 2025 | |||||
| Non-current assets$'000 | 10,979 | 14,830 | 1,271 | 27,080 | PDF p. 94 |
Notes
Non-current assets consist of property, plant and equipment, investment property and investments in joint ventures.
Location of non-current assets 1 lines
| Item / unit | 2025Singapore | 2025Australia | 2025Cambodia | 2025Consolidated | 2024Singapore | 2024Australia | 2024Cambodia | 2024Consolidated | Source |
|---|---|---|---|---|---|---|---|---|---|
| Non-current assets$'000 | 10,979 | 14,830 | 1,271 | 27,080 | 10,363 | 14,876 | 1,221 | 26,460 | PDF p. 94 |
Notes
Non-current assets consist of property, plant and equipment, investment property and investments in joint ventures.
Debt
Borrowings
Lease liabilities maturity analysis and current/non-current
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Contractual undiscounted cash flows | |||||
| – Within one year$'000 | 600 | 386 | 76 | 20 | PDF p. 80 |
| – Within two to five years$'000 | 1,087 | 691 | 152 | 15 | PDF p. 80 |
| – After five years$'000 | 1,514 | 1,570 | – | – | PDF p. 80 |
| Less: Future interest expense$'000 | (657) | (639) | (18) | (1) | PDF p. 80 |
| Present value of lease liabilities$'000 | 2,544 | 2,008 | 210 | 34 | PDF p. 80 |
| Statements of financial position | |||||
| – Current$'000 | 525 | 329 | 67 | 19 | PDF p. 80 |
| – Non-current$'000 | 2,019 | 1,679 | 143 | 15 | PDF p. 80 |
Notes
Lease liabilities are denominated in Singapore dollar.
Group lease liabilities of $1,316,000 (2024: $755,000) and Company $210,000 (2024: $34,000) are secured by the leased assets.
Undiscounted total row (3,201 / 2,647 / 228 / 35) is printed without a label.
Liquidity risk – bank term loans and lease liabilities maturity (undiscounted)
| Item / unit | 2025within 1 year, $'000 | 2025within 2 to 5 years, $'000 | 2025after 5 years, $'000 | 2025total, $'000 | Source |
|---|---|---|---|---|---|
| Group 31 December 2025 | |||||
| Lease liabilities$'000 | 600 | 1,087 | 1,514 | 3,201 | PDF p. 98 |
| Bank term loans$'000 | 10,391 | 1,683 | 2,699 | 14,773 | PDF p. 98 |
Notes
Includes both interest and principal undiscounted cash flows.
2024 comparatives: Lease liabilities 386/691/1,570/2,647; Bank term loans 2,062/11,303/3,537/16,902 (see separate table).
Company 2025 lease liabilities 76/152/–/228; no bank borrowings.
Liquidity risk – bank term loans and lease liabilities maturity, 2024 comparative
| Item / unit | 2024within 1 year, $'000 | 2024within 2 to 5 years, $'000 | 2024after 5 years, $'000 | 2024total, $'000 | Source |
|---|---|---|---|---|---|
| Group 31 December 2024 | |||||
| Lease liabilities$'000 | 386 | 691 | 1,570 | 2,647 | PDF p. 98 |
| Bank term loans$'000 | 2,062 | 11,303 | 3,537 | 16,902 | PDF p. 98 |
Notes
Includes both interest and principal undiscounted cash flows.
Borrowing notes 2 tables
Bank term loans
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current | |||
| Term loan I$'000 | 336 | 286 | PDF p. 77 |
| Term loan II$'000 | – | 754 | PDF p. 77 |
| Term loan III$'000 | 9,336 | 363 | PDF p. 77 |
| Total current$'000 | 9,672 | 1,403 | PDF p. 77 |
| Non-current | |||
| Term loan I$'000 | 3,936 | 4,284 | PDF p. 77 |
| Term loan III$'000 | – | 9,241 | PDF p. 77 |
| Total non-current$'000 | 3,936 | 13,525 | PDF p. 77 |
| Total | |||
| Total bank term loans$'000 | 13,608 | 14,928 | PDF p. 77 |
Notes
Term loan I secured against leasehold property and land in Singapore of $7,551,000 (2024: $7,798,000), with corporate guarantee from the Company; repayable in 240 monthly instalments from 13 September 2016.
Term loan II was unsecured, supported by corporate guarantee, fully repaid during the year.
Term loan III secured against investment property of $14,830,000 (2024: $14,875,000); balance repayable in full by 20 March 2026.
Interest rate row printed split across lines: 2.08%/2.00% on line above 'Bank term loans', then 'to 5.72%' / 'to 6.63%'. Loans are floating rate.
Currency profile of bank term loans
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Group does not have a fixed dividend policy at present. The form, frequency and the amount of dividends declared for each year will take into consideration the Group’s profit, cash position, and other factors as the Board may deem appropriate. For FY2025, the Board has not declared or recommended any dividend as the Company does not have profits available for the declaration of a dividend. | Group, FY2025 | PDF p. 38 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| BDO LLP | BDO LLP | Group | PDF p. 51 |
| engagement partner | William Ng Wee Liang | Group | PDF p. 51 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.