JEP 1J4
SGD 0.45
-5.56% -0.03 Updated 6 Nov 2026, 17:16 SGT
Financials
Annual Report 2025
Explore the statements
10 tablesConsolidated Statement of Comprehensive Income
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| RevenueS$’000 | 53,812 | 56,910 | PDF p. 94 |
| Cost of salesS$’000 | (45,318) | (47,942) | PDF p. 94 |
| Gross profitS$’000 | 8,494 | 8,968 | PDF p. 94 |
| Other operating incomeS$’000 | 1,401 | 2,136 | PDF p. 94 |
| Selling and distribution expensesS$’000 | (1,076) | (1,260) | PDF p. 94 |
| Administrative expensesS$’000 | (4,118) | (5,544) | PDF p. 94 |
| Finance costsS$’000 | (543) | (651) | PDF p. 94 |
| Profit before taxS$’000 | 4,158 | 3,649 | PDF p. 94 |
| Income tax expenseS$’000 | (806) | (523) | PDF p. 94 |
| Profit for the year attributable to owners of the CompanyS$’000 | 3,352 | 3,126 | PDF p. 94 |
| Other comprehensive income attributable to owners of the Company; item that may be reclassified to profit or loss in subsequent periods | |||
| Currency translation differenceS$’000 | 310 | 444 | PDF p. 94 |
| Other comprehensive income | |||
| Total comprehensive income for the year attributable to owners of the CompanyS$’000 | 3,662 | 3,570 | PDF p. 94 |
| Earnings per share (expressed in cents) | |||
| Basiccents per share | 0.812 | 0.757 | PDF p. 94 |
| Dilutedcents per share | 0.812 | 0.757 | PDF p. 94 |
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Definitions & sources
Original report: PDF p. 94 ↗
The accompanying notes form an integral part of the financial statements.
Statements of Financial Position — Group
28 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Assets; Current assets | |||
| Cash and bank balancesS$’000 | 7,270 | 12,648 | PDF p. 95 |
| Trade and other receivablesS$’000 | 14,773 | 20,763 | PDF p. 95 |
| InventoriesS$’000 | 20,677 | 21,020 | PDF p. 95 |
| Assets | |||
| Total current assetsS$’000 | 42,720 | 54,431 | PDF p. 95 |
| Assets; Non-current assets | |||
| Property, plant and equipmentS$’000 | 56,557 | 51,600 | PDF p. 95 |
| Investment propertyS$’000 | 7,406 | – | PDF p. 95 |
| Intangible assetsS$’000 | 11,292 | 11,292 | PDF p. 95 |
| SubsidiariesS$’000 | – | – | PDF p. 95 |
| Deferred tax assetsS$’000 | 4 | 7 | PDF p. 95 |
| Assets | |||
| Total non-current assetsS$’000 | 75,259 | 62,899 | PDF p. 95 |
| Total assetsS$’000 | 117,979 | 117,330 | PDF p. 95 |
| Liabilities and equity; Current liabilities | |||
| Bank loansS$’000 | – | 755 | PDF p. 95 |
| Loan from ultimate holdingS$’000 | 971 | 1,994 | PDF p. 95 |
| Trade and other payablesS$’000 | 12,224 | 13,491 | PDF p. 95 |
| Lease liabilitiesS$’000 | 330 | 352 | PDF p. 95 |
| Current tax liabilitiesS$’000 | 193 | 543 | PDF p. 95 |
| Liabilities and equity | |||
| Total current liabilitiesS$’000 | 13,718 | 17,135 | PDF p. 95 |
| Liabilities and equity; Non-current liabilities | |||
| Loan from ultimate holdingS$’000 | 9,640 | 9,882 | PDF p. 95 |
| Lease liabilitiesS$’000 | 5,270 | 5,353 | PDF p. 95 |
| Deferred tax liabilitiesS$’000 | 5,646 | 4,917 | PDF p. 95 |
| Liabilities and equity | |||
| Total non-current liabilitiesS$’000 | 20,556 | 20,152 | PDF p. 95 |
| Liabilities and equity; Capital and reserves | |||
| Share capitalS$’000 | 49,226 | 49,226 | PDF p. 95 |
| Treasury sharesS$’000 | (203) | (203) | PDF p. 95 |
| Capital reserveS$’000 | 772 | 772 | PDF p. 95 |
| Translation reserveS$’000 | 58 | (252) | PDF p. 95 |
| Retained earningsS$’000 | 33,852 | 30,500 | PDF p. 95 |
| Total equityS$’000 | 83,705 | 80,043 | PDF p. 95 |
| Liabilities and equity | |||
| Total liabilities and equityS$’000 | 117,979 | 117,330 | PDF p. 95 |
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Definitions & sources
Original report: PDF p. 95 ↗
The accompanying notes form an integral part of the financial statements.
Statements of Financial Position — Company
28 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Assets; Current assets | |||
| Cash and bank balancesS$’000 | 153 | 1,526 | PDF p. 95 |
| Trade and other receivablesS$’000 | 2,705 | 1,170 | PDF p. 95 |
| InventoriesS$’000 | – | – | PDF p. 95 |
| Assets | |||
| Total current assetsS$’000 | 2,858 | 2,696 | PDF p. 95 |
| Assets; Non-current assets | |||
| Property, plant and equipmentS$’000 | 1 | 2 | PDF p. 95 |
| Investment propertyS$’000 | – | – | PDF p. 95 |
| Intangible assetsS$’000 | – | – | PDF p. 95 |
| SubsidiariesS$’000 | 71,802 | 71,802 | PDF p. 95 |
| Deferred tax assetsS$’000 | 4 | 7 | PDF p. 95 |
| Assets | |||
| Total non-current assetsS$’000 | 71,807 | 71,811 | PDF p. 95 |
| Total assetsS$’000 | 74,665 | 74,507 | PDF p. 95 |
| Liabilities and equity; Current liabilities | |||
| Bank loansS$’000 | – | – | PDF p. 95 |
| Loan from ultimate holdingS$’000 | – | – | PDF p. 95 |
| Trade and other payablesS$’000 | 1,577 | 1,607 | PDF p. 95 |
| Lease liabilitiesS$’000 | – | – | PDF p. 95 |
| Current tax liabilitiesS$’000 | 13 | 4 | PDF p. 95 |
| Liabilities and equity | |||
| Total current liabilitiesS$’000 | 1,590 | 1,611 | PDF p. 95 |
| Liabilities and equity; Non-current liabilities | |||
| Loan from ultimate holdingS$’000 | – | – | PDF p. 95 |
| Lease liabilitiesS$’000 | – | – | PDF p. 95 |
| Deferred tax liabilitiesS$’000 | – | – | PDF p. 95 |
| Liabilities and equity | |||
| Total non-current liabilitiesS$’000 | – | – | PDF p. 95 |
| Liabilities and equity; Capital and reserves | |||
| Share capitalS$’000 | 49,226 | 49,226 | PDF p. 95 |
| Treasury sharesS$’000 | (203) | (203) | PDF p. 95 |
| Capital reserveS$’000 | 870 | 870 | PDF p. 95 |
| Translation reserveS$’000 | – | – | PDF p. 95 |
| Retained earningsS$’000 | 23,182 | 23,003 | PDF p. 95 |
| Total equityS$’000 | 73,075 | 72,896 | PDF p. 95 |
| Liabilities and equity | |||
| Total liabilities and equityS$’000 | 74,665 | 74,507 | PDF p. 95 |
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Definitions & sources
Original report: PDF p. 95 ↗
The accompanying notes form an integral part of the financial statements.
Consolidated Statement of Comprehensive Income
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueS$’000 | 53,812 | 56,910 | PDF p. 94 |
| Cost of salesS$’000 | (45,318) | (47,942) | PDF p. 94 |
| Gross profitS$’000 | 8,494 | 8,968 | PDF p. 94 |
| Other operating incomeS$’000 | 1,401 | 2,136 | PDF p. 94 |
| Selling and distribution expensesS$’000 | (1,076) | (1,260) | PDF p. 94 |
| Administrative expensesS$’000 | (4,118) | (5,544) | PDF p. 94 |
| Finance costsS$’000 | (543) | (651) | PDF p. 94 |
| Profit before taxS$’000 | 4,158 | 3,649 | PDF p. 94 |
| Income tax expenseS$’000 | (806) | (523) | PDF p. 94 |
| Profit for the year | |||
| Profit for the year attributable to owners of the CompanyS$’000 | 3,352 | 3,126 | PDF p. 94 |
| Other comprehensive income attributable to owners of the Company; item that may be reclassified to profit or loss in subsequent periods | |||
| Currency translation differenceS$’000 | 310 | 444 | PDF p. 94 |
| Total comprehensive income | |||
| Total comprehensive income for the year attributable to owners of the CompanyS$’000 | 3,662 | 3,570 | PDF p. 94 |
| Earnings per share (expressed in cents) | |||
| Basiccents per share | 0.812 | 0.757 | PDF p. 94 |
| Dilutedcents per share | 0.812 | 0.757 | PDF p. 94 |
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Definitions & sources
Original report: PDF p. 94 ↗
Statements of Changes in Equity — Group, 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group — Share capital (S$’000) | 2025Group — Treasury shares (S$’000) | 2025Group — Capital reserve (S$’000) | 2025Group — Translation reserve (S$’000) | 2025Group — Retained earnings (S$’000) | 2025Group — Total (S$’000) | Source |
|---|---|---|---|---|---|---|---|
| Group equity balances | |||||||
| Balance as at 1 January 2025S$’000 | 49,226 | (203) | 772 | (252) | 30,500 | 80,043 | PDF p. 96 |
| Total comprehensive income for the year | |||||||
| Profit for the yearS$’000 | – | – | – | – | 3,352 | 3,352 | PDF p. 96 |
| Other comprehensive income for the yearS$’000 | – | – | – | 310 | – | 310 | PDF p. 96 |
| TotalS$’000 | – | – | – | 310 | 3,352 | 3,662 | PDF p. 96 |
| Group equity balances | |||||||
| Balance as at 31 December 2025S$’000 | 49,226 | (203) | 772 | 58 | 33,852 | 83,705 | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
Statements of Changes in Equity — Group, 2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group — Share capital (S$’000) | 2024Group — Treasury shares (S$’000) | 2024Group — Capital reserve (S$’000) | 2024Group — Translation reserve (S$’000) | 2024Group — Retained earnings (S$’000) | 2024Group — Total (S$’000) | Source |
|---|---|---|---|---|---|---|---|
| Group equity balances | |||||||
| Balance as at 1 January 2024S$’000 | 49,226 | (203) | 772 | (696) | 27,374 | 76,473 | PDF p. 96 |
| Total comprehensive income for the year | |||||||
| Profit for the yearS$’000 | – | – | – | – | 3,126 | 3,126 | PDF p. 96 |
| Other comprehensive income for the yearS$’000 | – | – | – | 444 | – | 444 | PDF p. 96 |
| TotalS$’000 | – | – | – | 444 | 3,126 | 3,570 | PDF p. 96 |
| Group equity balances | |||||||
| Balance as at 31 December 2024S$’000 | 49,226 | (203) | 772 | (252) | 30,500 | 80,043 | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
Statements of Changes in Equity — Company, 2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company — Share capital (S$’000) | 2025Company — Treasury shares (S$’000) | 2025Company — Capital reserve (S$’000) | 2025Company — Retained earnings (S$’000) | 2025Company — Total (S$’000) | Source |
|---|---|---|---|---|---|---|
| Company equity balances | ||||||
| Balance as at 1 January 2025S$’000 | 49,226 | (203) | 870 | 23,003 | 72,896 | PDF p. 96 |
| Total comprehensive income for the year | ||||||
| Profit for the yearS$’000 | – | – | – | 179 | 179 | PDF p. 96 |
| TotalS$’000 | – | – | – | 179 | 179 | PDF p. 96 |
| Company equity balances | ||||||
| Balance as at 31 December 2025S$’000 | 49,226 | (203) | 870 | 23,182 | 73,075 | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
Statements of Changes in Equity — Company, 2024
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company — Share capital (S$’000) | 2024Company — Treasury shares (S$’000) | 2024Company — Capital reserve (S$’000) | 2024Company — Retained earnings (S$’000) | 2024Company — Total (S$’000) | Source |
|---|---|---|---|---|---|---|
| Company equity balances | ||||||
| Balance as at 1 January 2024S$’000 | 49,226 | (203) | 870 | 21,699 | 71,592 | PDF p. 96 |
| Total comprehensive income for the year | ||||||
| Profit for the yearS$’000 | – | – | – | 1,304 | 1,304 | PDF p. 96 |
| TotalS$’000 | – | – | – | 1,304 | 1,304 | PDF p. 96 |
| Company equity balances | ||||||
| Balance as at 31 December 2024S$’000 | 49,226 | (203) | 870 | 23,003 | 72,896 | PDF p. 96 |
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Definitions & sources
Original report: PDF p. 96 ↗
Consolidated Statement of Cash Flows
30 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before income taxS$’000 | 4,158 | 3,649 | PDF p. 97 |
| Operating activities — Adjustments for | |||
| Provision for impairment loss recognised on trade receivablesS$’000 | – | 1 | PDF p. 97 |
| Depreciation of property, plant and equipmentS$’000 | 6,608 | 5,842 | PDF p. 97 |
| Gain on disposal of property, plant and equipmentS$’000 | (959) | (437) | PDF p. 97 |
| Property, plant and equipment written offS$’000 | 6 | 1 | PDF p. 97 |
| Unrealised exchange loss/(gain)S$’000 | 329 | (440) | PDF p. 97 |
| Provision for inventory obsolescenceS$’000 | 180 | 19 | PDF p. 97 |
| Interest incomeS$’000 | (112) | (381) | PDF p. 97 |
| Interest expenseS$’000 | 543 | 651 | PDF p. 97 |
| Operating activities | |||
| Operating cash flows before movements in working capitalS$’000 | 10,753 | 8,905 | PDF p. 97 |
| Operating activities — Changes in working capital | |||
| InventoriesS$’000 | 164 | (1,046) | PDF p. 97 |
| Trade and other receivablesS$’000 | 6,799 | (2,345) | PDF p. 97 |
| Trade and other payablesS$’000 | (1,360) | 1,284 | PDF p. 97 |
| Operating activities | |||
| Cash generated from operationsS$’000 | 16,356 | 6,798 | PDF p. 97 |
| Interest paidS$’000 | (543) | (651) | PDF p. 97 |
| Interest receivedS$’000 | 112 | 381 | PDF p. 97 |
| Income tax paidS$’000 | (423) | (485) | PDF p. 97 |
| Net cash generated from operating activitiesS$’000 | 15,502 | 6,043 | PDF p. 97 |
| Investing activities | |||
| Purchase of property, plant and equipment (Note A)S$’000 | (20,293) | (6,626) | PDF p. 97 |
| Proceeds from disposal of property, plant and equipment (Note B)S$’000 | 1,778 | 477 | PDF p. 97 |
| Net cash used in investing activitiesS$’000 | (18,515) | (6,149) | PDF p. 97 |
| Financing activities | |||
| Repayment of lease liabilitiesS$’000 | (365) | (551) | PDF p. 97 |
| Proceeds from loan from ultimate holdingS$’000 | – | 13,000 | PDF p. 97 |
| Repayment of loan to ultimate holdingS$’000 | (1,265) | (1,124) | PDF p. 97 |
| Repayment of term loansS$’000 | (755) | (17,786) | PDF p. 97 |
| Net cash used in financing activitiesS$’000 | (2,385) | (6,461) | PDF p. 97 |
| Cash and bank balances | |||
| Net decrease in cash and bank balancesS$’000 | (5,398) | (6,567) | PDF p. 97 |
| Effect of exchange rate changesS$’000 | 20 | 40 | PDF p. 97 |
| Cash and bank balances at beginning of yearS$’000 | 12,648 | 19,175 | PDF p. 97 |
| Cash and bank balances at end of year (Note 9)S$’000 | 7,270 | 12,648 | PDF p. 97 |
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Definitions & sources
Original report: PDF p. 97 ↗
Note A and Note B are references printed in the statement; their explanatory details are not included on this statement page.
Financial Highlights
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | Source |
|---|---|---|
| Financial Highlights | ||
| GROUP TOTAL NET ASSETS VALUES$ million | 83.7 | PDF p. 7 |
| REVENUES$ million | 53.8 | PDF p. 7 |
| PROFIT TO EQUITY OWNERSS$ million | 3.4 | PDF p. 7 |
| EARNINGS PER SHAREcents | 0.812 | PDF p. 7 |
| NET ASSETS VALUE PER SHAREcents | 20.3 | PDF p. 7 |
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Definitions & sources
Original report: PDF p. 7 ↗
The Financial Highlights page presents FY2025 highlights only; the report does not show a five-year summary on this page. EBITDA is presented separately on physical page 6.
Where the money comes from
Segment information
By business
Segment Information (a) By Business 8 lines
| Item / unit | 2025Precision machining, S$'000 | 2024Precision machining, S$'000 | 2025Trading and others, S$'000 | 2024Trading and others, S$'000 | 2025Equipment manufacturing, S$'000 | 2024Equipment manufacturing, S$'000 | 2025Group, S$'000 | 2024Group, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| REVENUE | |||||||||
| Total revenueS$'000 | 39,021 | 34,173 | 5,025 | 8,595 | 10,242 | 14,866 | 54,288 | 57,634 | PDF p. 160 |
| Inter-reporting unit salesS$'000 | (12) | (4) | (457) | (577) | (7) | (143) | (476) | (724) | PDF p. 160 |
| External customersS$'000 | 39,009 | 34,169 | 4,568 | 8,018 | 10,235 | 14,723 | 53,812 | 56,910 | PDF p. 160 |
| EXPENSES | |||||||||
| Material consumption and sub-contractingS$'000 | 17,160 | 16,843 | 3,952 | 6,072 | 5,543 | 7,120 | 26,655 | 30,035 | PDF p. 160 |
| Employee benefits expenseS$'000 | 7,226 | 7,801 | 494 | 1,147 | 3,347 | 4,571 | 11,067 | 13,519 | PDF p. 160 |
| RESULTS | |||||||||
| Segment resultsS$'000 | 6,178 | 3,613 | 305 | 1,232 | (1,477) | 108 | 5,006 | 4,953 | PDF p. 160 |
| OTHER INFORMATION | |||||||||
| Capital expenditureS$'000 | 15,017 | 4,554 | 14 | 629 | 4,475 | 548 | 19,506 | 5,731 | PDF p. 160 |
| Depreciation of property, plant and equipmentS$'000 | 4,313 | 3,906 | 179 | 149 | 2,116 | 1,787 | 6,608 | 5,842 | PDF p. 160 |
Notes
Group columns: unallocated expenses, finance costs, profit before tax, income tax and net profit are printed only in Group columns (2025, 2024); an unlabelled subtotal 4,701 (2025) and 4,300 (2024) is printed after unallocated corporate expenses.
Evaluated based on operating profit or loss; group financing (including finance costs) and income taxes are managed on a group basis and not allocated to reporting units.
Segment Information (c) Reconciliation of Segments Total Assets and Total Liabilities 16 lines
| Item / unit | 2025S$'000 | 2024S$'000 | Source |
|---|---|---|---|
| Reportable segments’ assets are reconciled to total assets as follows | |||
| Precision machiningS$'000 | 81,613 | 73,021 | PDF p. 162 |
| Trading and othersS$'000 | 12,967 | 17,669 | PDF p. 162 |
| Equipment manufacturingS$'000 | 22,697 | 25,996 | PDF p. 162 |
| Segment assetsS$'000 | 117,277 | 116,686 | PDF p. 162 |
| GST input taxS$'000 | 669 | 593 | PDF p. 162 |
| Tax receivablesS$'000 | 29 | 44 | PDF p. 162 |
| Deferred tax assetsS$'000 | 4 | 7 | PDF p. 162 |
| Total assetsS$'000 | 117,979 | 117,330 | PDF p. 162 |
| Reportable segments’ liabilities are reconciled to total liabilities as follows | |||
| Precision machiningS$'000 | 22,519 | 23,929 | PDF p. 162 |
| Trading and othersS$'000 | 2,688 | 3,828 | PDF p. 162 |
| Equipment manufacturingS$'000 | 3,421 | 4,553 | PDF p. 162 |
| Segment liabilitiesS$'000 | 28,628 | 32,310 | PDF p. 162 |
| GST output taxS$'000 | – | 53 | PDF p. 162 |
| Contract liabilityS$'000 | – | 7 | PDF p. 162 |
| Deferred tax liabilitiesS$'000 | 5,646 | 4,917 | PDF p. 162 |
| Total liabilitiesS$'000 | 34,274 | 37,287 | PDF p. 162 |
Notes
Major customers: Revenue from transactions with three external customers amounted to S$24,277,000 (2024: S$27,717,000), where each individual external customer contributes to 4% or more (2024: 6% or more) of the Group’s revenue. These customers are in the precision machining segment.
By geography
Segment Information (b) Geographical Information - Revenue and Non-current assets 7 lines
| Item / unit | 2025Revenue, S$'000 | 2024Revenue, S$'000 | 2025Non-current assets (exclude deferred tax assets), S$'000 | 2024Non-current assets (exclude deferred tax assets), S$'000 | Source |
|---|---|---|---|---|---|
| Geographical Information | |||||
| SingaporeS$'000 | 16,811 | 24,822 | 67,848 | 55,631 | PDF p. 161 |
| People’s Republic of China*S$'000 | 1,943 | 5,916 | – | – | PDF p. 161 |
| MalaysiaS$'000 | 17,895 | 7,021 | 7,407 | 7,261 | PDF p. 161 |
| USAS$'000 | 12,168 | 13,568 | – | – | PDF p. 161 |
| CanadaS$'000 | 2,933 | 2,798 | – | – | PDF p. 161 |
| Others**S$'000 | 2,062 | 2,785 | – | – | PDF p. 161 |
| TotalS$'000 | 53,812 | 56,910 | 75,255 | 62,892 | PDF p. 161 |
Notes
Revenue is based on the location of customers regardless of where the goods are produced. Non-current assets (exclude deferred tax assets) are based on the location of those assets.
* People’s Republic of China includes Hong Kong.
** Others include countries such as India, Poland, Germany, France, Middle East countries and Southeast Asia.
Total row has no printed label.
Segment Information (b) Geographical Information - Segment assets and liabilities 3 lines
| Item / unit | 2025Segment assets, S$'000 | 2024Segment assets, S$'000 | 2025Segment liabilities, S$'000 | 2024Segment liabilities, S$'000 | Source |
|---|---|---|---|---|---|
| Geographical areas | |||||
| SingaporeS$'000 | 108,792 | 108,687 | 27,881 | 31,593 | PDF p. 161 |
| MalaysiaS$'000 | 8,485 | 7,999 | 747 | 717 | PDF p. 161 |
| TotalS$'000 | 117,277 | 116,686 | 28,628 | 32,310 | PDF p. 161 |
Notes
Carrying amount of segment assets and liabilities by geographical areas in which the assets and liabilities are located. Total row has no printed label.
Debt
Borrowings
Note 20(g) Lease liabilities maturity - minimum lease payments and present value
| Item / unit | 2025S$'000 | 2024S$'000 | Source |
|---|---|---|---|
| Minimum lease payments due | |||
| - Not later than 1 yearS$'000 | 520 | 548 | PDF p. 144 |
| - Later than 1 year but within 5 yearsS$'000 | 1,792 | 1,775 | PDF p. 144 |
| - Later than 5 yearsS$'000 | 5,127 | 5,335 | PDF p. 144 |
| Less | |||
| Future finance chargesS$'000 | (1,839) | (1,953) | PDF p. 144 |
| Lease liabilities | |||
| Present value of financial lease liabilitiesS$'000 | 5,600 | 5,705 | PDF p. 144 |
| Present value of lease liabilities | |||
| Not later than 1 yearS$'000 | 330 | 352 | PDF p. 144 |
| Later than 1 year but within 5 yearsS$'000 | 1,131 | 1,103 | PDF p. 144 |
| Later than 5 yearsS$'000 | 4,139 | 4,250 | PDF p. 144 |
Notes
Company columns are all '–' for both years and are omitted from values. Present value subtotal 5,270 (2024: 5,353) is shown with 5,600/5,705 total on the next line.
Borrowing notes 3 tables
Bank Loans
| Item / unit | 2025S$'000 | 2024S$'000 | Source |
|---|---|---|---|
| Secured - at amortised cost | |||
| - Term loansS$'000 | – | 755 | PDF p. 139 |
| Current | |||
| Less: Amount due for settlement within 12 months (shown under current liabilities)S$'000 | – | (755) | PDF p. 139 |
| Non-current | |||
| Amount due for settlement after 12 monthsS$'000 | – | – | PDF p. 139 |
Notes
Secured term loan; buildings on leasehold land with carrying amount S$15,847,000 (2024: S$16,732,000) remained pledged. Bridging loan secured by corporate guarantee by the Company. Loan fully repaid during FY2025.
Terms and conditions of outstanding borrowings
| Item / unit | 202531 December 2025: principal amount, S$'000 | 202531 December 2025: carrying amount, S$'000 | 202431 December 2024: principal amount, S$'000 | 202431 December 2024: carrying amount, S$'000 | Source |
|---|---|---|---|---|---|
| Secured, SGD, nominal interest rate 2.00% | |||||
| 5-year temporary bridging loanS$'000 | – | – | 5,000 | 755 | PDF p. 139 |
Notes
Currency SGD; nominal interest rate 2.00%. Weighted average effective interest rate 2.00% in 2025 and 2024. Repayable over 48 monthly instalments from 13th month after drawdown 30 July 2020.
Loan from Ultimate Holding (unsecured)
| Item / unit | 2025S$'000 | 2024S$'000 | Source |
|---|---|---|---|
| Loan from ultimate holding | |||
| Non-currentS$'000 | 9,640 | 9,882 | PDF p. 140 |
| CurrentS$'000 | 971 | 1,994 | PDF p. 140 |
| TotalS$'000 | 10,611 | 11,876 | PDF p. 140 |
Notes
Unsecured; fixed 3.70% p.a. for first 12 months, subject to annual renewal; from 1 July 2025 revised to 2.25% p.a. Repayable over 138 months (2024: 72 months) from 28 May 2024; monthly repayments revised to S$100,000 from 1 May 2025 (2024: S$200,000). Total row has no printed label.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy (Provision 11.6) | The Company does not have a fixed dividend policy. The form, frequency and amount of dividends will depend on the Company’s earnings, operational and capital requirements, cash flow and financial conditions, as well as general business conditions and other factors which the Board may deem appropriate. The Board endeavours to maintain a balance between meeting shareholder’s expectations and prudent capital management. The Board will review the dividend payment from time to time and any dividend declaration will be communicated to shareholders via announcement through SGXNet. | Company | PDF p. 69 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividends | There is no dividend declared in respect of the current financial year. | FY2025 | PDF p. 146 |
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 |
|---|---|---|---|
| Audit firm | Moore Stephens LLP | Group and Company, FY2025 | PDF p. 93 |
| Engagement partner | Ms. Chong Jia Yun, Michelle | Group and Company, FY2025 | PDF p. 93 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) | Group and Company, year ended 31 December 2025 | PDF p. 89 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment review of goodwill | Goodwill arises from the Group’s acquisition of JEP Engineering Pte. Ltd. (“JEPL”), JEP Precision Engineering Pte Ltd (“JEPS”) and JEP Industrades Pte Ltd (“JEPI”). | Group, 31 December 2025 | PDF p. 90 |
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.