GSS Energy 41F
Financials
Annual Report 2025
Explore the statements
41 tablesGroup profit or loss and comprehensive income
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Group profit or loss and comprehensive income | |||
| RevenueSingapore dollars thousands | 158,467 | 99,878 | PDF p. 93 |
| Cost of salesSingapore dollars thousands | (146,703) | (91,437) | PDF p. 93 |
| Gross profi tSingapore dollars thousands | 11,764 | 8,441 | PDF p. 93 |
| Other income and gainsSingapore dollars thousands | 757 | 935 | PDF p. 93 |
| Distribution costsSingapore dollars thousands | (9,111) | (10,767) | PDF p. 93 |
| Administrative expensesSingapore dollars thousands | (5,484) | (4,954) | PDF p. 93 |
| Finance costsSingapore dollars thousands | (687) | (2,044) | PDF p. 93 |
| Other lossesSingapore dollars thousands | (4,410) | (7,924) | PDF p. 93 |
| Loss before tax from continuing operationsSingapore dollars thousands | (7,171) | (16,313) | PDF p. 93 |
| Income tax expenseSingapore dollars thousands | (681) | (308) | PDF p. 93 |
| Loss from continuing operations for the yearSingapore dollars thousands | (7,852) | (16,621) | PDF p. 93 |
| Other comprehensive (loss) / income: | |||
| Items that will not be reclassifi ed to profi t or loss Remeasurement gain / (loss) on retirement benefi tsSingapore dollars thousands | 68 | (6) | PDF p. 93 |
| Items that may be reclassifi ed subsequently to profi t or loss Foreign exchange differences on translating foreign operationsSingapore dollars thousands | (1,251) | 560 | PDF p. 93 |
| Other comprehensive (loss) / income for the year, net of taxSingapore dollars thousands | (1,183) | 554 | PDF p. 93 |
| Total comprehensive loss for the yearSingapore dollars thousands | (9,035) | (16,067) | PDF p. 93 |
| Loss for the year attributable to: | |||
| Owners of the parent, net of taxSingapore dollars thousands | (7,768) | (15,764) | PDF p. 93 |
| Non-controlling interest, net of taxSingapore dollars thousands | (84) | (857) | PDF p. 93 |
| SubtotalSingapore dollars thousands | (7,852) | (16,621) | PDF p. 93 |
| Total comprehensive (loss) / income attributable to: Owners of the parentSingapore dollars thousands | (9,078) | (15,223) | PDF p. 93 |
| Non-controlling interestsSingapore dollars thousands | 43 | (844) | PDF p. 93 |
| SubtotalSingapore dollars thousands | (9,035) | (16,067) | PDF p. 93 |
| Loss per share (cents) | |||
| BasicSingapore cents per share | (0.74) | (1.93) | PDF p. 93 |
| DilutedSingapore cents per share | (0.74) | (1.93) | PDF p. 93 |
Definitions & sources
Original report: PDF p. 93 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group cash flows
46 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Group cash flows | |||
| Cash fl ows provided by operating activities Loss before taxSingapore dollars thousands | (7,171) | (16,313) | PDF p. 97 |
| Adjustment for: Amortisation of intangible assetsSingapore dollars thousands | 404 | 280 | PDF p. 97 |
| Amortisation of land use rightsSingapore dollars thousands | 50 | 51 | PDF p. 97 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 2,744 | 3,187 | PDF p. 97 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 3,957 | 3,716 | PDF p. 97 |
| Finance costsSingapore dollars thousands | 687 | 2,044 | PDF p. 97 |
| Intangibles written offSingapore dollars thousands | – | 6 | PDF p. 97 |
| Property, plant and equipment written offSingapore dollars thousands | 2 | 29 | PDF p. 97 |
| Loss allowance on trade receivablesSingapore dollars thousands | – | 995 | PDF p. 97 |
| Interest incomeSingapore dollars thousands | (65) | (128) | PDF p. 97 |
| Inventories written offSingapore dollars thousands | 56 | 859 | PDF p. 97 |
| Impairment loss of goodwillSingapore dollars thousands | – | 6,395 | PDF p. 97 |
| Impairment allowance on intangible assetSingapore dollars thousands | 3,006 | – | PDF p. 97 |
| Impairment allowance on inventoriesSingapore dollars thousands | 482 | – | PDF p. 97 |
| Impairment allowance on property, plant and equipmentSingapore dollars thousands | 514 | – | PDF p. 97 |
| Share option expensesSingapore dollars thousands | – | 13 | PDF p. 97 |
| Unrealised foreign exchange differencesSingapore dollars thousands | 1,197 | (1,258) | PDF p. 97 |
| Operating cash fl ows before changes in working capitalSingapore dollars thousands | 5,863 | (124) | PDF p. 97 |
| InventoriesSingapore dollars thousands | 5,325 | 862 | PDF p. 97 |
| Trade and other receivablesSingapore dollars thousands | 3,238 | 2,663 | PDF p. 97 |
| Other non-fi nancial assetsSingapore dollars thousands | 57 | (347) | PDF p. 97 |
| Trade and other payablesSingapore dollars thousands | (6,525) | 6,583 | PDF p. 97 |
| Provision for retirement benefi t obligationsSingapore dollars thousands | 68 | (6) | PDF p. 97 |
| Net cash fl ows generated provided by operationsSingapore dollars thousands | 8,026 | 9,631 | PDF p. 97 |
| Interest receivedSingapore dollars thousands | 49 | 91 | PDF p. 97 |
| Income taxes paidSingapore dollars thousands | (681) | (308) | PDF p. 97 |
| Net cash fl ows provided by operating activitiesSingapore dollars thousands | 7,394 | 9,414 | PDF p. 97 |
| Cash fl ows used in investing activities Acquisition of short-term investmentsSingapore dollars thousands | (4,927) | (2,735) | PDF p. 97 |
| Proceeds from disposal of short-term investmentsSingapore dollars thousands | 4,943 | 2,772 | PDF p. 97 |
| Acquisition of other assetsSingapore dollars thousands | – | (195) | PDF p. 97 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (1,786) | (2,258) | PDF p. 97 |
| Purchase of intangible assetsSingapore dollars thousands | (286) | (426) | PDF p. 97 |
| Net cash fl ows used in investing activitiesSingapore dollars thousands | (2,056) | (2,842) | PDF p. 97 |
| Cash fl ows used in fi nancing activities Cash restricted in useSingapore dollars thousands | – | (13) | PDF p. 97 |
| Proceeds from right issue, netSingapore dollars thousands | 4,562 | – | PDF p. 97 |
| Proceeds from bank loans and borrowingsSingapore dollars thousands | 15,459 | 46,926 | PDF p. 97 |
| Repayment of bank loans and borrowingsSingapore dollars thousands | (26,764) | (56,000) | PDF p. 97 |
| Repayments of principal of lease liabilitiesSingapore dollars thousands | (2,743) | (3,388) | PDF p. 97 |
| Repayments of interest of lease liabilitiesSingapore dollars thousands | (215) | (239) | PDF p. 97 |
| Interest paidSingapore dollars thousands | (472) | (1,805) | PDF p. 97 |
| Net proceeds from amount due to directorSingapore dollars thousands | – | 1,800 | PDF p. 97 |
| Net cash fl ows used in fi nancing activitiesSingapore dollars thousands | (10,173) | (12,719) | PDF p. 97 |
| Net decrease in cash and cash equivalentsSingapore dollars thousands | (4,835) | (6,147) | PDF p. 97 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars thousands | (287) | 285 | PDF p. 97 |
| Cash and cash equivalents, statement of cash fl ows, beginning balanceSingapore dollars thousands | 8,670 | 14,532 | PDF p. 97 |
| Cash and cash equivalents, statement of cash fl ows, ending balanceSingapore dollars thousands | 3,548 | 8,670 | PDF p. 97 |
Definitions & sources
Original report: PDF p. 97 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, land and equipmentSingapore dollars thousands | 22,298 | 22,682 | PDF p. 94 |
| Intangible assetsSingapore dollars thousands | 128 | 3,396 | PDF p. 94 |
| Land use rightsSingapore dollars thousands | 990 | 1,064 | PDF p. 94 |
| Right-of-use assetsSingapore dollars thousands | 4,265 | 9,143 | PDF p. 94 |
| GoodwillSingapore dollars thousands | 112 | 112 | PDF p. 94 |
| Investment in subsidiariesSingapore dollars thousands | – | – | PDF p. 94 |
| Investment in associatesSingapore dollars thousands | – | – | PDF p. 94 |
| Other assetsSingapore dollars thousands | 149 | 195 | PDF p. 94 |
| Other receivablesSingapore dollars thousands | – | – | PDF p. 94 |
| Deferred tax assetsSingapore dollars thousands | 575 | 792 | PDF p. 94 |
| Total non-current assetsSingapore dollars thousands | 28,517 | 37,384 | PDF p. 94 |
| Current assets | |||
| InventoriesSingapore dollars thousands | 10,900 | 15,897 | PDF p. 94 |
| Trade and other receivablesSingapore dollars thousands | 15,586 | 25,600 | PDF p. 94 |
| Other non-fi nancial assetsSingapore dollars thousands | 2,378 | 2,435 | PDF p. 94 |
| Cash and cash equivalentsSingapore dollars thousands | 3,890 | 9,034 | PDF p. 94 |
| Total current assetsSingapore dollars thousands | 32,754 | 52,966 | PDF p. 94 |
| Total assetsSingapore dollars thousands | 61,271 | 90,350 | PDF p. 94 |
| Equity | |||
| Share capitalSingapore dollars thousands | 72,136 | 66,666 | PDF p. 94 |
| Other reservesSingapore dollars thousands | (794) | 6,054 | PDF p. 94 |
| Accumulated lossesSingapore dollars thousands | (47,183) | (39,483) | PDF p. 94 |
| Equity, attributable to owners of the parentSingapore dollars thousands | 24,159 | 33,237 | PDF p. 94 |
| Non-controlling interestSingapore dollars thousands | (2,248) | (2,291) | PDF p. 94 |
| Total equitySingapore dollars thousands | 21,911 | 30,946 | PDF p. 94 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 242 | 263 | PDF p. 94 |
| Lease liabilitiesSingapore dollars thousands | 1,291 | 3,378 | PDF p. 94 |
| Loans and borrowingsSingapore dollars thousands | 1,276 | 2,669 | PDF p. 94 |
| Other payablesSingapore dollars thousands | – | 12 | PDF p. 94 |
| Retirement benefi t obligationsSingapore dollars thousands | 2,241 | 2,379 | PDF p. 94 |
| Total non-current liabilitiesSingapore dollars thousands | 5,050 | 8,701 | PDF p. 94 |
| Current liabilities | |||
| Income tax payableSingapore dollars thousands | 494 | 1 | PDF p. 94 |
| Lease liabilitiesSingapore dollars thousands | 2,377 | 2,668 | PDF p. 94 |
| Loans and borrowingsSingapore dollars thousands | 4,214 | 14,761 | PDF p. 94 |
| Trade and other payablesSingapore dollars thousands | 27,225 | 33,273 | PDF p. 94 |
| Total current liabilitiesSingapore dollars thousands | 34,310 | 50,703 | PDF p. 94 |
| Total liabilitiesSingapore dollars thousands | 39,360 | 59,404 | PDF p. 94 |
| Total equity and liabilitiesSingapore dollars thousands | 61,271 | 90,350 | PDF p. 94 |
Definitions & sources
Original report: PDF p. 94 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, land and equipmentSingapore dollars thousands | – | – | PDF p. 94 |
| Intangible assetsSingapore dollars thousands | – | – | PDF p. 94 |
| Land use rightsSingapore dollars thousands | – | – | PDF p. 94 |
| Right-of-use assetsSingapore dollars thousands | – | – | PDF p. 94 |
| GoodwillSingapore dollars thousands | – | – | PDF p. 94 |
| Investment in subsidiariesSingapore dollars thousands | 16,337 | 16,337 | PDF p. 94 |
| Investment in associatesSingapore dollars thousands | – | – | PDF p. 94 |
| Other assetsSingapore dollars thousands | 149 | 182 | PDF p. 94 |
| Other receivablesSingapore dollars thousands | – | 6,250 | PDF p. 94 |
| Deferred tax assetsSingapore dollars thousands | – | – | PDF p. 94 |
| Total non-current assetsSingapore dollars thousands | 16,486 | 22,769 | PDF p. 94 |
| Current assets | |||
| InventoriesSingapore dollars thousands | – | – | PDF p. 94 |
| Trade and other receivablesSingapore dollars thousands | 1,359 | 5,747 | PDF p. 94 |
| Other non-fi nancial assetsSingapore dollars thousands | 6 | 244 | PDF p. 94 |
| Cash and cash equivalentsSingapore dollars thousands | 6 | 4 | PDF p. 94 |
| Total current assetsSingapore dollars thousands | 1,371 | 5,995 | PDF p. 94 |
| Total assetsSingapore dollars thousands | 17,857 | 28,764 | PDF p. 94 |
| Equity | |||
| Share capitalSingapore dollars thousands | 72,136 | 66,666 | PDF p. 94 |
| Other reservesSingapore dollars thousands | 74 | 5,544 | PDF p. 94 |
| Accumulated lossesSingapore dollars thousands | (55,685) | (48,312) | PDF p. 94 |
| Equity, attributable to owners of the parentSingapore dollars thousands | 16,525 | 23,898 | PDF p. 94 |
| Non-controlling interestSingapore dollars thousands | – | – | PDF p. 94 |
| Total equitySingapore dollars thousands | 16,525 | 23,898 | PDF p. 94 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | – | – | PDF p. 94 |
| Lease liabilitiesSingapore dollars thousands | – | – | PDF p. 94 |
| Loans and borrowingsSingapore dollars thousands | – | – | PDF p. 94 |
| Other payablesSingapore dollars thousands | – | – | PDF p. 94 |
| Retirement benefi t obligationsSingapore dollars thousands | – | – | PDF p. 94 |
| Total non-current liabilitiesSingapore dollars thousands | – | – | PDF p. 94 |
| Current liabilities | |||
| Income tax payableSingapore dollars thousands | – | – | PDF p. 94 |
| Lease liabilitiesSingapore dollars thousands | – | – | PDF p. 94 |
| Loans and borrowingsSingapore dollars thousands | – | – | PDF p. 94 |
| Trade and other payablesSingapore dollars thousands | 1,332 | 4,866 | PDF p. 94 |
| Total current liabilitiesSingapore dollars thousands | 1,332 | 4,866 | PDF p. 94 |
| Total liabilitiesSingapore dollars thousands | 1,332 | 4,866 | PDF p. 94 |
| Total equity and liabilitiesSingapore dollars thousands | 17,857 | 28,764 | PDF p. 94 |
Definitions & sources
Original report: PDF p. 94 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group changes in equity / 2025
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 / Total equity | 2025Group / year ended December31, 2025 / Attributable to parent sub-total | 2025Group / year ended December31, 2025 / Share capital | 2025Group / year ended December31, 2025 / Rights issue reserve | 2025Group / year ended December31, 2025 / Accumulated losses | 2025Group / year ended December31, 2025 / Currency translation reserve | 2025Group / year ended December31, 2025 / Statutory reserve | 2025Group / year ended December31, 2025 / Share Option reserve | 2025Group / year ended December31, 2025 / Other reserve | 2025Group / year ended December31, 2025 / Non-controlling interest | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current year: | |||||||||||
| Opening balance at 1 January 2025Singapore dollars thousands | 30,946 | 33,237 | 66,666 | 5,470 | (39,483) | (1,090) | 1,478 | 74 | 122 | (2,291) | PDF p. 95 |
| Changes in equity: | |||||||||||
| Loss from continuing operations for the yearSingapore dollars thousands | (7,852) | (7,768) | – | – | (7,768) | – | – | – | – | (84) | PDF p. 95 |
| Exchange difference arising from translation of foreign operations (Note 25A)Singapore dollars thousands | (1,251) | (1,378) | – | – | – | (1,378) | – | – | – | 127 | PDF p. 95 |
| Remeasurement of defi ned benefi t schemeSingapore dollars thousands | 68 | 68 | – | – | 68 | – | – | – | – | – | PDF p. 95 |
| Total comprehensive loss for the yearSingapore dollars thousands | (9,035) | (9,078) | – | – | (7,700) | (1,378) | – | – | – | 43 | PDF p. 95 |
| Issuance of ordinary sharesSingapore dollars thousands | – | – | 5,470 | (5,470) | – | – | – | – | – | – | PDF p. 95 |
| Closing balance at 31 December 2025Singapore dollars thousands | 21,911 | 24,159 | 72,136 | – | (47,183) | (2,468) | 1,478 | 74 | 122 | (2,248) | PDF p. 95 |
Definitions & sources
Original report: PDF p. 95 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group changes in equity / 2024
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / year ended December31, 2024 / Total equity | 2024Group / year ended December31, 2024 / Attributable to parent sub-total | 2024Group / year ended December31, 2024 / Share capital | 2024Group / year ended December31, 2024 / Rights issue reserve | 2024Group / year ended December31, 2024 / Accumulated losses | 2024Group / year ended December31, 2024 / Currency translation reserve | 2024Group / year ended December31, 2024 / Statutory reserve | 2024Group / year ended December31, 2024 / Share Option reserve | 2024Group / year ended December31, 2024 / Other reserve | 2024Group / year ended December31, 2024 / Non-controlling interest | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Previous year: | |||||||||||
| Opening balance at 1 January 2024Singapore dollars thousands | 41,505 | 42,977 | 66,666 | – | (23,782) | (1,637) | 1,473 | 135 | 122 | (1,472) | PDF p. 95 |
| Changes in equity: | |||||||||||
| Loss from continuing operations for the yearSingapore dollars thousands | (16,621) | (15,764) | – | – | (15,764) | – | – | – | – | (857) | PDF p. 95 |
| Exchange difference arising from translation of foreign operations (Note 25A)Singapore dollars thousands | 560 | 547 | – | – | – | 547 | – | – | – | 13 | PDF p. 95 |
| Remeasurement of defi ned benefi t schemeSingapore dollars thousands | (6) | (6) | – | – | (6) | – | – | – | – | – | PDF p. 95 |
| Total comprehensive loss for the yearSingapore dollars thousands | (16,067) | (15,223) | – | – | (15,770) | 547 | – | – | – | (844) | PDF p. 95 |
| Expiry of share options (Note 25C)Singapore dollars thousands | – | – | – | – | 74 | – | – | (74) | – | – | PDF p. 95 |
| Share option expenses (Note 25C)Singapore dollars thousands | 13 | 13 | – | – | – | – | – | 13 | – | – | PDF p. 95 |
| Subscription monies of rights share, net (Note 25D)Singapore dollars thousands | 5,470 | 5,470 | – | 5,470 | – | – | – | – | – | – | PDF p. 95 |
| Capital contribution by non- controlling shareholderSingapore dollars thousands | 25 | – | – | – | – | – | – | – | – | 25 | PDF p. 95 |
| Transfer to statutory reserveSingapore dollars thousands | – | – | – | – | (5) | – | 5 | – | – | – | PDF p. 95 |
| Closing balance at 31 December 2024Singapore dollars thousands | 30,946 | 33,237 | 66,666 | 5,470 | (39,483) | (1,090) | 1,478 | 74 | 122 | (2,291) | PDF p. 95 |
Definitions & sources
Original report: PDF p. 95 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company changes in equity / 2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year ended December31, 2025 / Total equity | 2025Company / year ended December31, 2025 / Share capital | 2025Company / year ended December31, 2025 / Accumulated losses | 2025Company / year ended December31, 2025 / Rights issue reserve | 2025Company / year ended December31, 2025 / Share options reserve | Source |
|---|---|---|---|---|---|---|
| Current year: | ||||||
| Opening balance at 1 January 2025Singapore dollars thousands | 23,898 | 66,666 | (48,312) | 5,470 | 74 | PDF p. 96 |
| Changes in equity: | ||||||
| Total comprehensive loss for the yearSingapore dollars thousands | (7,373) | – | (7,373) | – | – | PDF p. 96 |
| Issuance of share capitalSingapore dollars thousands | – | 5,470 | – | (5,470) | – | PDF p. 96 |
| Closing balance at 31 December 2025Singapore dollars thousands | 16,525 | 72,136 | (55,685) | – | 74 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company changes in equity / 2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company / year ended December31, 2024 / Total equity | 2024Company / year ended December31, 2024 / Share capital | 2024Company / year ended December31, 2024 / Accumulated losses | 2024Company / year ended December31, 2024 / Rights issue reserve | 2024Company / year ended December31, 2024 / Share options reserve | Source |
|---|---|---|---|---|---|---|
| Previous year: | ||||||
| Opening balance at 1 January 2024Singapore dollars thousands | 19,914 | 66,666 | (46,887) | – | 135 | PDF p. 96 |
| Changes in equity: | ||||||
| Total comprehensive loss for the yearSingapore dollars thousands | (1,425) | – | (1,425) | – | – | PDF p. 96 |
| Share-based payments plan value of employee servicesSingapore dollars thousands | 13 | – | – | – | 13 | PDF p. 96 |
| Expiry of share optionsSingapore dollars thousands | (74) | – | – | – | (74) | PDF p. 96 |
| Subscription monies of rights shareSingapore dollars thousands | 5,470 | – | – | 5,470 | – | PDF p. 96 |
| Closing balance at 31 December 2024Singapore dollars thousands | 23,898 | 66,666 | (48,312) | 5,470 | 74 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Original five-year Group financial summary
25 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / original summary year 2025 | 2024Group / original summary year 2024 | 2023Group / original summary year 2023 | 2022Group / original summary year 2022 | 2021Group / original summary year 2021 | Source |
|---|---|---|---|---|---|---|
| Original five-year financial summary | ||||||
| TurnoverSingapore dollars millions | 158.5 | 99.9 | 118.2 | 129.7 | 117.5 | PDF p. 3 |
| Net (Loss)/Profit Before TaxSingapore dollars millions | (7.2) | (16.3) | (8.1) | (14.7) | 5.8 | PDF p. 3 |
| Net (Loss)/Profit After TaxSingapore dollars millions | (7.9) | (16.6) | (8.9) | (15.1) | 5.0 | PDF p. 3 |
| Property, Plant & EquipmentSingapore dollars millions | 22.3 | 22.7 | 22.6 | 23.8 | 23.5 | PDF p. 3 |
| Other Non-Current AssetsSingapore dollars millions | 6.2 | 14.7 | 23.8 | 24.4 | 19.9 | PDF p. 3 |
| Current Assets (excludes*)Singapore dollars millions | 28.9 | 44.0 | 42.8 | 45.5 | 67.5 | PDF p. 3 |
| *Cash and Bank BalancesSingapore dollars millions | 3.9 | 9.0 | 14.9 | 15.2 | 15.7 | PDF p. 3 |
| Total AssetsSingapore dollars millions | 61.3 | 90.4 | 104.1 | 108.9 | 126.6 | PDF p. 3 |
| Other Non-Current LiabilitiesSingapore dollars millions | 4.3 | 6.0 | 7.9 | 7.9 | 5.8 | PDF p. 3 |
| Long-Term BorrowingsSingapore dollars millions | 1.3 | 2.7 | 4.7 | 2.4 | 3.9 | PDF p. 3 |
| Short-Term BorrowingsSingapore dollars millions | 4.2 | 14.8 | 21.3 | 11.9 | 14.5 | PDF p. 3 |
| Other Current LiabilitiesSingapore dollars millions | 29.6 | 35.9 | 28.7 | 35.4 | 37.2 | PDF p. 3 |
| Total LiabilitiesSingapore dollars millions | 39.4 | 59.4 | 62.6 | 57.6 | 61.4 | PDF p. 3 |
| Capital ReserveSingapore dollars millions | - | - | - | - | - | PDF p. 3 |
| Translation ReserveSingapore dollars millions | (2.5) | (1.1) | (1.6) | (0.6) | 0.9 | PDF p. 3 |
| Subscription of rights sharesSingapore dollars millions | - | 5.5 | - | - | - | PDF p. 3 |
| Statutory ReserveSingapore dollars millions | 1.5 | 1.5 | 1.5 | 1.5 | 1.5 | PDF p. 3 |
| Revenue ReserveSingapore dollars millions | (47.2) | (39.5) | (23.8) | (18.8) | (3.3) | PDF p. 3 |
| Equity Non-Controlling InterestSingapore dollars millions | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | PDF p. 3 |
| Share CapitalSingapore dollars millions | 72.1 | 66.7 | 66.7 | 66.7 | 63.4 | PDF p. 3 |
| Total Capital & ReserveSingapore dollars millions | 24.2 | 33.2 | 42.9 | 52.6 | 66.4 | PDF p. 3 |
| Non-Controlling InterestsSingapore dollars millions | (2.2) | (2.2) | (1.4) | (1.3) | (1.2) | PDF p. 3 |
| Total Capital, Reserve & Non-Controlling InterestsSingapore dollars millions | 22.0 | 31.0 | 41.5 | 51.3 | 65.2 | PDF p. 3 |
| Net Tangible Assets Per Share (Cents)Singapore cents per share | 1.48 | 2.61 | 2.81 | 4.35 | 10.50 | PDF p. 3 |
| Earnings/(Loss) Per Share (Cents)Singapore cents per share | (0.74) | (1.93) | (1.09) | (2.41) | 0.99 | PDF p. 3 |
Definitions & sources
Original report: PDF p. 3 ↗
Amounts are millions except NTA/EPS in cents. The original summary contains rounding and component-basis differences from precise primary statements, including total equity2025printed22.0million vs exact21.911million and2021printed65.2million vs65.125million. Original summary is retained as reported, with independent comparison differences recorded; unprinted subtotal/NTA formulas are not inferred.
The source current/prior EPS presentation incorporates rights-issue bonus adjustments under Note11. Older original EPS bases can differ. FY2025primary/source summary prints loss per share0.74cents, while original Note11loss7768thousand/weightedshares1066863thousand rounds0.73cents; source rates and inputs are both retained with this discrepancy.
Chairperson and CEO EBITDA measures
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Selected original note | |||
| EBITDASingapore dollars millions | 0.67 | (7.04) | PDF p. 4 |
| Adjusted EBITDASingapore dollars millions | 4.67 | (0.64) | PDF p. 4 |
Definitions & sources
Original report: PDF p. 4 ↗
Reported EBITDA0.67/(7.04)million and adjustedEBITDA4.67/(0.64)million numerically reconcile to precise pretax results plus finance costs and depreciation/amortisation, withEVimpairments4002/6395thousand added for the adjusted metric. This is an independent arithmetic reconciliation; a separate complete formal EBITDA formula is not printed.
EPS / original loss magnitudes
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Loss magnitude for EPS | |||
| Loss for the year attributable to owners of the parent, net of taxSingapore dollars thousands | 7,768 | 15,764 | PDF p. 118 |
Definitions & sources
Original report: PDF p. 118 ↗
Source prints positive loss magnitude7768/15764thousand as the numerator; primary loss attributable to owners is negative. Preserve original signs in each source.
EPS / original weighted ordinary-share base
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Selected original note | |||
| Weighted average number of equity sharesShares thousands | 1,066,863 | 817,781 | PDF p. 118 |
Definitions & sources
Original report: PDF p. 118 ↗
Note11says ordinary and potential shares are retrospectively adjusted for bonus elements of the rights issue. Source2025rate0.74cents differs from direct ratio0.73cents using this printed denominator;2024ratio agrees1.93cents.
Group and Company bank cash and pledged deposits
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|---|---|
| Bank cash and pledged amounts | |||||
| Not restricted in useSingapore dollars thousands | 3,548 | 8,670 | 6 | 4 | PDF p. 132 |
| Cash pledged for bank facilities #aSingapore dollars thousands | 342 | 364 | – | – | PDF p. 132 |
| Cash at end of the yearSingapore dollars thousands | 3,890 | 9,034 | 6 | 4 | PDF p. 132 |
Definitions & sources
Original report: PDF p. 132 ↗
Group cash-flow cash reconciliation
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Cash-flow cash reconciliation | |||
| Amount as shown aboveSingapore dollars thousands | 3,890 | 9,034 | PDF p. 132 |
| Cash pledged for bank facilitiesSingapore dollars thousands | (342) | (364) | PDF p. 132 |
| Cash and cash equivalents for statement of cash fl ows purposes at end of the yearSingapore dollars thousands | 3,548 | 8,670 | PDF p. 132 |
Definitions & sources
Original report: PDF p. 132 ↗
Bank cash3890/9034minuspledged342/364equalscash-flowcash3548/8670.
Net debt and debt-to-adjusted-capital ratio
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Net debt and adjusted capital | |||
| Net debt: All current and non-current borrowings excluding lease liabilitiesSingapore dollars thousands | 5,490 | 17,430 | PDF p. 134 |
| Less cash and cash equivalentsSingapore dollars thousands | (3,890) | (9,034) | PDF p. 134 |
| Net debtSingapore dollars thousands | 1,600 | 8,396 | PDF p. 134 |
| Adjusted capital (less: goodwill, land use rights, right-of-use assets, deferred tax assets and intangible assets)Singapore dollars thousands | 15,841 | 16,439 | PDF p. 134 |
| Selected original note | |||
| Debt-to-adjusted capital ratioPercent | 10.10 | 51.07 | PDF p. 134 |
Definitions & sources
Original report: PDF p. 134 ↗
Borrowings exclude lease liabilities. Adjusted capital deducts goodwill, land-use rights, right-of-use assets, deferred tax assets and intangible assets from total equity; source ratio is10.10%/51.07%.
Group and Company other-reserve components
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|---|---|
| Other reserves | |||||
| Foreign currency translation reserve (Note 25A)Singapore dollars thousands | (2,468) | (1,090) | – | – | PDF p. 135 |
| Statutory reserve (Note 25B)Singapore dollars thousands | 1,478 | 1,478 | – | – | PDF p. 135 |
| Share options reserve (Note 25C)Singapore dollars thousands | 74 | 74 | 74 | 74 | PDF p. 135 |
| Subscription of rights shares (Note 25D)Singapore dollars thousands | – | 5,470 | – | 5,470 | PDF p. 135 |
| Other reserveSingapore dollars thousands | 122 | 122 | – | – | PDF p. 135 |
| SubtotalSingapore dollars thousands | (794) | 6,054 | 74 | 5,544 | PDF p. 135 |
Definitions & sources
Original report: PDF p. 135 ↗
Segment revenue results assets and other information / 2025
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Mechanisms | 2025Group / Microshafts | 2025Group / Electric vehicle | 2025Group / Unallocated | 2025Group / Eliminations | 2025Group / Group | Source |
|---|---|---|---|---|---|---|---|
| Continuing operations | |||||||
| Revenue by segment External customersSingapore dollars thousands | 141,638 | 16,783 | 46 | – | – | 158,467 | PDF p. 110 |
| Intersegment revenuesSingapore dollars thousands | 23,594 | 2,171 | – | 180 | (25,945) | – | PDF p. 110 |
| SubtotalSingapore dollars thousands | 165,232 | 18,954 | 46 | 180 | (25,945) | 158,467 | PDF p. 110 |
| Results: Operating profi t / (loss)Singapore dollars thousands | 1,318 | (383) | (7,617) | (1,108) | 1,241 | (6,549) | PDF p. 110 |
| liabilities | |||||||
| Segment assetsSingapore dollars thousands | 43,793 | 15,453 | 1,861 | 164 | – | 61,271 | PDF p. 110 |
| Segment liabilitiesSingapore dollars thousands | 32,493 | 4,594 | 1,931 | 342 | – | 39,360 | PDF p. 110 |
| Other segment information Addition to property, plant and equipmentSingapore dollars thousands | 932 | 801 | 53 | – | – | 1,786 | PDF p. 110 |
| Addition to intangible assetsSingapore dollars thousands | – | 11 | 275 | – | – | 286 | PDF p. 110 |
| Depreciation and amortisationSingapore dollars thousands | (5,153) | (942) | (1,060) | – | – | (7,155) | PDF p. 110 |
| Impairment of EV segment assetsSingapore dollars thousands | – | – | (4,002) | – | – | (4,002) | PDF p. 110 |
Definitions & sources
Original report: PDF p. 110 ↗
Segment operating result to Group net result / 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group total | Source |
|---|---|---|
| Continuing operations | ||
| Interest incomeSingapore dollars thousands | 65 | PDF p. 110 |
| Finance costsSingapore dollars thousands | (687) | PDF p. 110 |
| Loss before tax from continuing operationsSingapore dollars thousands | (7,171) | PDF p. 110 |
| Income tax expenseSingapore dollars thousands | (681) | PDF p. 110 |
| Loss from continuing operationsSingapore dollars thousands | (7,852) | PDF p. 110 |
Definitions & sources
Original report: PDF p. 110 ↗
Segment revenue results assets and other information / 2024
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Mechanisms | 2024Group / Microshafts | 2024Group / Electric vehicle | 2024Group / Unallocated | 2024Group / Eliminations | 2024Group / Group | Source |
|---|---|---|---|---|---|---|---|
| Continuing operations | |||||||
| Revenue by segment External customersSingapore dollars thousands | 82,578 | 17,276 | 24 | – | – | 99,878 | PDF p. 111 |
| Intersegment revenuesSingapore dollars thousands | 16,705 | 2,165 | 447 | 180 | (19,497) | – | PDF p. 111 |
| SubtotalSingapore dollars thousands | 99,283 | 19,441 | 471 | 180 | (19,497) | 99,878 | PDF p. 111 |
| Results: Operating (loss) / profi tSingapore dollars thousands | (5,768) | (814) | (11,788) | (1,206) | 5,179 | (14,397) | PDF p. 111 |
| liabilities | |||||||
| Segment assetsSingapore dollars thousands | 58,392 | 18,627 | 7,217 | 6,114 | – | 90,350 | PDF p. 111 |
| Segment liabilitiesSingapore dollars thousands | 50,275 | 4,588 | 2,203 | 2,338 | – | 59,404 | PDF p. 111 |
| Other segment information Addition to property, plant and equipmentSingapore dollars thousands | 1,869 | 127 | 262 | – | – | 2,258 | PDF p. 111 |
| Addition to intangible assetsSingapore dollars thousands | – | – | 426 | – | – | 426 | PDF p. 111 |
| Depreciation and amortisationSingapore dollars thousands | (5,301) | (1,101) | (830) | (2) | – | (7,234) | PDF p. 111 |
| Expected credit lossesSingapore dollars thousands | (83) | – | (907) | (5) | – | (995) | PDF p. 111 |
| Impairment loss of goodwillSingapore dollars thousands | – | – | (6,395) | – | – | (6,395) | PDF p. 111 |
Definitions & sources
Original report: PDF p. 111 ↗
Segment operating result to Group net result / 2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group total | Source |
|---|---|---|
| Continuing operations | ||
| Interest incomeSingapore dollars thousands | 128 | PDF p. 111 |
| Finance costsSingapore dollars thousands | (2,044) | PDF p. 111 |
| Loss before tax from continuing operationsSingapore dollars thousands | (16,313) | PDF p. 111 |
| Income tax expenseSingapore dollars thousands | (308) | PDF p. 111 |
| Loss from continuing operationsSingapore dollars thousands | (16,621) | PDF p. 111 |
Definitions & sources
Original report: PDF p. 111 ↗
Geographical revenue and goods or services
15 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Mechanisms | 2024Group / Mechanisms | 2025Group / Microshafts | 2024Group / Microshafts | 2025Group / Electric vehicle | 2024Group / Electric vehicle | 2025Group / Total | 2024Group / Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Geographical revenue | |||||||||
| Primary geographical markets IndonesiaSingapore dollars thousands | 58,506 | 67,299 | 458 | 816 | – | – | 58,964 | 68,115 | PDF p. 112 |
| ChinaSingapore dollars thousands | – | 33 | 7,363 | 7,185 | – | – | 7,363 | 7,218 | PDF p. 112 |
| SingaporeSingapore dollars thousands | 10,032 | 11,050 | 827 | 847 | – | – | 10,859 | 11,897 | PDF p. 112 |
| ItalySingapore dollars thousands | – | – | 1,419 | 1,401 | – | – | 1,419 | 1,401 | PDF p. 112 |
| GermanySingapore dollars thousands | – | – | 1,174 | 1,121 | – | – | 1,174 | 1,121 | PDF p. 112 |
| MalaysiaSingapore dollars thousands | 72 | 47 | 1,433 | 1,577 | – | – | 1,505 | 1,624 | PDF p. 112 |
| JapanSingapore dollars thousands | 711 | 773 | 121 | 115 | – | – | 832 | 888 | PDF p. 112 |
| United State of AmericaSingapore dollars thousands | 63,364 | – | 580 | – | – | – | 63,944 | – | PDF p. 112 |
| ThailandSingapore dollars thousands | 126 | – | 369 | 338 | 46 | 24 | 541 | 362 | PDF p. 112 |
| Hong KongSingapore dollars thousands | 5,987 | – | 76 | – | – | – | 6,063 | – | PDF p. 112 |
| OthersSingapore dollars thousands | 2,840 | 3,365 | 2,963 | 3,887 | – | – | 5,803 | 7,252 | PDF p. 112 |
| SubtotalSingapore dollars thousands | 141,368 | 82,567 | 16,783 | 17,287 | 46 | 24 | 158,467 | 99,878 | PDF p. 112 |
| Type of goods or services Sale of goodsSingapore dollars thousands | 78,195 | 74,342 | 16,783 | 17,278 | 46 | 24 | 95,024 | 91,644 | PDF p. 112 |
| Services renderedSingapore dollars thousands | 63,443 | 8,225 | – | 9 | – | – | 63,443 | 8,234 | PDF p. 112 |
| SubtotalSingapore dollars thousands | 141,638 | 82,567 | 16,783 | 17,287 | 46 | 24 | 158,467 | 99,878 | PDF p. 112 |
Definitions & sources
Original report: PDF p. 112 ↗
Source2025geographicalMechanisms total is printed141368 while its country rows sum141638. Source2024geography/type-of-goods split82567/17287 differs from segment report82578/17276; totalGroup99878unchanged. Keep original figures and distinct table scopes.
Geographical non-current assets and additions
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Non-current assets | 2024Group / Non-current assets | 2025Group / Additions | 2024Group / Additions | Source |
|---|---|---|---|---|---|
| Geographical non-current assets | |||||
| Primary geographical markets: SingaporeSingapore dollars thousands | 4,258 | 13,264 | 593 | 127 | PDF p. 112 |
| IndonesiaSingapore dollars thousands | 18,675 | 18,272 | 788 | 1,869 | PDF p. 112 |
| ChinaSingapore dollars thousands | 4,778 | 5,286 | 397 | 262 | PDF p. 112 |
| ThailandSingapore dollars thousands | 806 | 562 | 8 | – | PDF p. 112 |
| SubtotalSingapore dollars thousands | 28,517 | 37,384 | 1,786 | 2,258 | PDF p. 112 |
Definitions & sources
Original report: PDF p. 112 ↗
Group profit or loss and comprehensive income
23 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Group profit or loss and comprehensive income | ||
| RevenueSingapore dollars thousands | 118,198 | PDF p. 95 |
| Cost of salesSingapore dollars thousands | (106,386) | PDF p. 95 |
| Gross profi tSingapore dollars thousands | 11,812 | PDF p. 95 |
| Other income and gainsSingapore dollars thousands | 802 | PDF p. 95 |
| Distribution costsSingapore dollars thousands | (11,610) | PDF p. 95 |
| Administrative expensesSingapore dollars thousands | (4,896) | PDF p. 95 |
| Finance costsSingapore dollars thousands | (1,875) | PDF p. 95 |
| Other lossesSingapore dollars thousands | (2,367) | PDF p. 95 |
| Loss before tax from continuing operationsSingapore dollars thousands | (8,134) | PDF p. 95 |
| Income tax expenseSingapore dollars thousands | (796) | PDF p. 95 |
| Loss from continuing operations for the yearSingapore dollars thousands | (8,930) | PDF p. 95 |
| Other comprehensive income/(loss): | ||
| Items that may be reclassifi ed subsequently to profi t or loss Foreign exchange differences on translating foreign operationsSingapore dollars thousands | (990) | PDF p. 95 |
| Items that will not be reclassifi ed to profi t or loss Remeasurement (loss)/gain on retirement benefi tsSingapore dollars thousands | 90 | PDF p. 95 |
| Other comprehensive income/(loss) for the year, net of taxSingapore dollars thousands | (900) | PDF p. 95 |
| Total comprehensive loss for the yearSingapore dollars thousands | (9,830) | PDF p. 95 |
| Loss for the year attributable to: | ||
| Owners of the parent, net of taxSingapore dollars thousands | (8,792) | PDF p. 95 |
| Non-controlling interest, net of taxSingapore dollars thousands | (138) | PDF p. 95 |
| SubtotalSingapore dollars thousands | (8,930) | PDF p. 95 |
| Total comprehensive loss attributable to: Owners of the parentSingapore dollars thousands | (9,724) | PDF p. 95 |
| Non-controlling interestsSingapore dollars thousands | (106) | PDF p. 95 |
| SubtotalSingapore dollars thousands | (9,830) | PDF p. 95 |
| Earnings/(loss) per share (cents) | ||
| BasicSingapore dollars thousands | (1.09) | PDF p. 95 |
| DilutedSingapore dollars thousands | (1.09) | PDF p. 95 |
Definitions & sources
Original report: PDF p. 95 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group cash flows
42 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Group cash flows | ||
| Cash fl ows from operating activities Loss before taxSingapore dollars thousands | (8,134) | PDF p. 99 |
| Adjustment for: Amortisation of intangible assetsSingapore dollars thousands | 220 | PDF p. 99 |
| Depreciation of land use rightsSingapore dollars thousands | 52 | PDF p. 99 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 3,393 | PDF p. 99 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 3,292 | PDF p. 99 |
| Finance costsSingapore dollars thousands | 1,875 | PDF p. 99 |
| Intangibles written offSingapore dollars thousands | – | PDF p. 99 |
| Property, plant and equipment written offSingapore dollars thousands | – | PDF p. 99 |
| Loss allowance on trade receivablesSingapore dollars thousands | 2,274 | PDF p. 99 |
| Interest incomeSingapore dollars thousands | (123) | PDF p. 99 |
| Inventories written offSingapore dollars thousands | – | PDF p. 99 |
| Impairment loss of goodwillSingapore dollars thousands | – | PDF p. 99 |
| Share option expensesSingapore dollars thousands | 74 | PDF p. 99 |
| Unrealised foreign exchange differencesSingapore dollars thousands | (609) | PDF p. 99 |
| Operating cash fl ows before changes in working capitalSingapore dollars thousands | 2,314 | PDF p. 99 |
| InventoriesSingapore dollars thousands | 12,087 | PDF p. 99 |
| Trade and other receivablesSingapore dollars thousands | (13,404) | PDF p. 99 |
| Other non-fi nancial assetsSingapore dollars thousands | 1,775 | PDF p. 99 |
| Trade and other payablesSingapore dollars thousands | (4,035) | PDF p. 99 |
| Provision for retirement benefi t obligationsSingapore dollars thousands | 90 | PDF p. 99 |
| Net cash fl ows generated from/(used in) operationsSingapore dollars thousands | (1,173) | PDF p. 99 |
| Interest receivedSingapore dollars thousands | 77 | PDF p. 99 |
| Income taxes paidSingapore dollars thousands | (1,577) | PDF p. 99 |
| Net cash fl ows provided by/(used in) operating activitiesSingapore dollars thousands | (2,673) | PDF p. 99 |
| Cash fl ows from investing activities Acquisition of short-term investmentsSingapore dollars thousands | (4,519) | PDF p. 99 |
| Proceeds from disposal of short-term investmentsSingapore dollars thousands | 4,565 | PDF p. 99 |
| Acquisition of other assetsSingapore dollars thousands | – | PDF p. 99 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (1,810) | PDF p. 99 |
| Purchase of intangible assetsSingapore dollars thousands | (1,947) | PDF p. 99 |
| Net cash fl ows used in investing activitiesSingapore dollars thousands | (3,711) | PDF p. 99 |
| Cash fl ows from fi nancing activities Cash restricted in useSingapore dollars thousands | (351) | PDF p. 99 |
| Proceeds from bank loans and borrowingsSingapore dollars thousands | 94,016 | PDF p. 99 |
| Repayment of bank loans and borrowingsSingapore dollars thousands | (82,065) | PDF p. 99 |
| Repayments of principal of lease liabilitiesSingapore dollars thousands | (3,595) | PDF p. 99 |
| Repayments of interest of lease liabilitiesSingapore dollars thousands | (439) | PDF p. 99 |
| Interest paidSingapore dollars thousands | (1,436) | PDF p. 99 |
| Net proceeds from amount due to directorSingapore dollars thousands | – | PDF p. 99 |
| Net cash fl ows (used in)/provided by fi nancing activitiesSingapore dollars thousands | 6,130 | PDF p. 99 |
| Net decrease in cash and cash equivalentsSingapore dollars thousands | (254) | PDF p. 99 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars thousands | (365) | PDF p. 99 |
| Cash and cash equivalents, statement of cash fl ows, beginning balanceSingapore dollars thousands | 15,151 | PDF p. 99 |
| Cash and cash equivalents, statement of cash fl ows, ending balanceSingapore dollars thousands | 14,532 | PDF p. 99 |
Definitions & sources
Original report: PDF p. 99 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Property, land and equipmentSingapore dollars thousands | 22,614 | PDF p. 96 |
| Intangible assetsSingapore dollars thousands | 3,169 | PDF p. 96 |
| Land use rightsSingapore dollars thousands | 1,109 | PDF p. 96 |
| Right-of-use assetsSingapore dollars thousands | 12,290 | PDF p. 96 |
| GoodwillSingapore dollars thousands | 6,507 | PDF p. 96 |
| Other receivablesSingapore dollars thousands | – | PDF p. 96 |
| Investment in subsidiariesSingapore dollars thousands | – | PDF p. 96 |
| Investment in associatesSingapore dollars thousands | – | PDF p. 96 |
| Other assetsSingapore dollars thousands | – | PDF p. 96 |
| Deferred tax assetsSingapore dollars thousands | 699 | PDF p. 96 |
| Total non-current assetsSingapore dollars thousands | 46,388 | PDF p. 96 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 18,295 | PDF p. 96 |
| Trade and other receivablesSingapore dollars thousands | 22,462 | PDF p. 96 |
| Other non-fi nancial assetsSingapore dollars thousands | 2,088 | PDF p. 96 |
| Cash and cash equivalentsSingapore dollars thousands | 14,883 | PDF p. 96 |
| Total current assetsSingapore dollars thousands | 57,728 | PDF p. 96 |
| Total assetsSingapore dollars thousands | 104,116 | PDF p. 96 |
| Equity | ||
| Share capitalSingapore dollars thousands | 66,666 | PDF p. 96 |
| Other reservesSingapore dollars thousands | 93 | PDF p. 96 |
| Accumulated lossesSingapore dollars thousands | (23,782) | PDF p. 96 |
| Equity, attributable to owners of the parentSingapore dollars thousands | 42,977 | PDF p. 96 |
| Non-controlling interestSingapore dollars thousands | (1,472) | PDF p. 96 |
| Total equitySingapore dollars thousands | 41,505 | PDF p. 96 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | 284 | PDF p. 96 |
| Loans and borrowingsSingapore dollars thousands | 4,729 | PDF p. 96 |
| Lease liabilitiesSingapore dollars thousands | 5,363 | PDF p. 96 |
| Other payablesSingapore dollars thousands | 26 | PDF p. 96 |
| Retirement benefi t obligationsSingapore dollars thousands | 2,201 | PDF p. 96 |
| Total non-current liabilitiesSingapore dollars thousands | 12,603 | PDF p. 96 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | 40 | PDF p. 96 |
| Loans and borrowingsSingapore dollars thousands | 21,261 | PDF p. 96 |
| Lease liabilitiesSingapore dollars thousands | 3,322 | PDF p. 96 |
| Trade and other payablesSingapore dollars thousands | 25,385 | PDF p. 96 |
| Total current liabilitiesSingapore dollars thousands | 50,008 | PDF p. 96 |
| Total liabilitiesSingapore dollars thousands | 62,611 | PDF p. 96 |
| Total equity and liabilitiesSingapore dollars thousands | 104,116 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / year ended December31, 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Property, land and equipmentSingapore dollars thousands | – | PDF p. 96 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 96 |
| Land use rightsSingapore dollars thousands | – | PDF p. 96 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 96 |
| GoodwillSingapore dollars thousands | – | PDF p. 96 |
| Other receivablesSingapore dollars thousands | 6,250 | PDF p. 96 |
| Investment in subsidiariesSingapore dollars thousands | 16,399 | PDF p. 96 |
| Investment in associatesSingapore dollars thousands | – | PDF p. 96 |
| Other assetsSingapore dollars thousands | – | PDF p. 96 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 96 |
| Total non-current assetsSingapore dollars thousands | 22,649 | PDF p. 96 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 96 |
| Trade and other receivablesSingapore dollars thousands | 783 | PDF p. 96 |
| Other non-fi nancial assetsSingapore dollars thousands | 5 | PDF p. 96 |
| Cash and cash equivalentsSingapore dollars thousands | 107 | PDF p. 96 |
| Total current assetsSingapore dollars thousands | 895 | PDF p. 96 |
| Total assetsSingapore dollars thousands | 23,544 | PDF p. 96 |
| Equity | ||
| Share capitalSingapore dollars thousands | 66,666 | PDF p. 96 |
| Other reservesSingapore dollars thousands | 135 | PDF p. 96 |
| Accumulated lossesSingapore dollars thousands | (46,887) | PDF p. 96 |
| Equity, attributable to owners of the parentSingapore dollars thousands | 19,914 | PDF p. 96 |
| Non-controlling interestSingapore dollars thousands | – | PDF p. 96 |
| Total equitySingapore dollars thousands | 19,914 | PDF p. 96 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 96 |
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 96 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 96 |
| Other payablesSingapore dollars thousands | – | PDF p. 96 |
| Retirement benefi t obligationsSingapore dollars thousands | – | PDF p. 96 |
| Total non-current liabilitiesSingapore dollars thousands | – | PDF p. 96 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | – | PDF p. 96 |
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 96 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 96 |
| Trade and other payablesSingapore dollars thousands | 3,630 | PDF p. 96 |
| Total current liabilitiesSingapore dollars thousands | 3,630 | PDF p. 96 |
| Total liabilitiesSingapore dollars thousands | 3,630 | PDF p. 96 |
| Total equity and liabilitiesSingapore dollars thousands | 23,544 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group changes in equity / 2023
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 / Total equity | 2023Group / year ended December31, 2023 / Attributable to parent sub-total | 2023Group / year ended December31, 2023 / Share capital | 2023Group / year ended December31, 2023 / Accumulated losses | 2023Group / year ended December31, 2023 / Currency translation reserve | 2023Group / year ended December31, 2023 / Statutory reserve | 2023Group / year ended December31, 2023 / Share Option reserve | 2023Group / year ended December31, 2023 / Other reserve | 2023Group / year ended December31, 2023 / Non-controlling interest | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Previous year: | ||||||||||
| Opening balance at 1 January 2023Singapore dollars thousands | 51,261 | 52,627 | 66,666 | (18,820) | (615) | 1,473 | 3,801 | 122 | (1,366) | PDF p. 97 |
| Changes in equity: | ||||||||||
| Loss from continuing operations for the yearSingapore dollars thousands | (8,930) | (8,792) | – | (8,792) | – | – | – | – | (138) | PDF p. 97 |
| Exchange difference arising from translation of foreign operations (Note 25A)Singapore dollars thousands | (990) | (1,022) | – | – | (1,022) | – | – | – | 32 | PDF p. 97 |
| Remeasurement of defi ned benefi t schemeSingapore dollars thousands | 90 | 90 | – | 90 | – | – | – | – | – | PDF p. 97 |
| Total comprehensive loss for the yearSingapore dollars thousands | (9,830) | (9,724) | – | (8,702) | (1,022) | – | – | – | (106) | PDF p. 97 |
| Expiry of share options (Note 25C)Singapore dollars thousands | – | – | – | 3,740 | – | – | (3,740) | – | – | PDF p. 97 |
| Share option expenses (Note 25C)Singapore dollars thousands | 74 | 74 | – | – | – | – | 74 | – | – | PDF p. 97 |
| Closing balance at 31 December 2023Singapore dollars thousands | 41,505 | 42,977 | 66,666 | (23,782) | (1,637) | 1,473 | 135 | 122 | (1,472) | PDF p. 97 |
Definitions & sources
Original report: PDF p. 97 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company changes in equity / 2023
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / year ended December31, 2023 / Total equity | 2023Company / year ended December31, 2023 / Share capital | 2023Company / year ended December31, 2023 / Accumulated losses | 2023Company / year ended December31, 2023 / Rights issue reserve | 2023Company / year ended December31, 2023 / Share options reserve | Source |
|---|---|---|---|---|---|---|
| Previous year: | ||||||
| Opening balance at 1 January 2023Singapore dollars thousands | 21,152 | 66,666 | (49,315) | – | 3,801 | PDF p. 98 |
| Changes in equity: | ||||||
| Total comprehensive loss for the yearSingapore dollars thousands | (1,297) | – | (1,297) | – | – | PDF p. 98 |
| Share-based payments plan value of employee servicesSingapore dollars thousands | 59 | – | – | – | 59 | PDF p. 98 |
| Expiry of share optionsSingapore dollars thousands | – | – | 3,725 | – | (3,725) | PDF p. 98 |
| Closing balance at 31 December 2023Singapore dollars thousands | 19,914 | 66,666 | (46,887) | – | 135 | PDF p. 98 |
Definitions & sources
Original report: PDF p. 98 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
FY2023 bank cash to cash-flow cash / original comparative
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| FY2023 bank cash to cash-flow cash / original comparative | ||
| Amount as shown aboveSingapore dollars thousands | 14,883 | PDF p. 134 |
| Cash pledged for bank facilitiesSingapore dollars thousands | (351) | PDF p. 134 |
| Cash and cash equivalents for statement of cash fl ows purposes at end of the yearSingapore dollars thousands | 14,532 | PDF p. 134 |
Definitions & sources
Original report: PDF p. 134 ↗
Original comparative columns; source cash restriction and short-term deposit composition retained.
Group profit or loss and comprehensive income
24 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Group profit or loss and comprehensive income | ||
| RevenueSingapore dollars thousands | 129,691 | PDF p. 90 |
| Cost of salesSingapore dollars thousands | (113,838) | PDF p. 90 |
| Gross profi tSingapore dollars thousands | 15,853 | PDF p. 90 |
| Other income and gainsSingapore dollars thousands | 982 | PDF p. 90 |
| Distribution costsSingapore dollars thousands | (12,194) | PDF p. 90 |
| Administrative expensesSingapore dollars thousands | (5,091) | PDF p. 90 |
| Finance costsSingapore dollars thousands | (1,412) | PDF p. 90 |
| Other lossesSingapore dollars thousands | (10,042) | PDF p. 90 |
| Share of results of associatesSingapore dollars thousands | (2,753) | PDF p. 90 |
| Loss before tax from continuing operationsSingapore dollars thousands | (14,657) | PDF p. 90 |
| Income tax expenseSingapore dollars thousands | (436) | PDF p. 90 |
| Loss from continuing operations for the yearSingapore dollars thousands | (15,093) | PDF p. 90 |
| Other comprehensive income: | ||
| Items that may be reclassifi ed subsequently to profi t or loss Foreign currency translationSingapore dollars thousands | (1,542) | PDF p. 90 |
| Items that will not be reclassifi ed to profi t or loss Remeasurement gain on retirement benefi tsSingapore dollars thousands | (556) | PDF p. 90 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | (2,098) | PDF p. 90 |
| Total comprehensive loss for the yearSingapore dollars thousands | (17,191) | PDF p. 90 |
| Loss for the year attributable to: | ||
| Equity holder of the CompanySingapore dollars thousands | (14,904) | PDF p. 90 |
| Non-controlling interestSingapore dollars thousands | (189) | PDF p. 90 |
| SubtotalSingapore dollars thousands | (15,093) | PDF p. 90 |
| Total comprehensive loss attributable to: Loss attributable to owners of the parent, net of taxSingapore dollars thousands | (17,037) | PDF p. 90 |
| Loss attributable to non-controlling interests, net of taxSingapore dollars thousands | (154) | PDF p. 90 |
| SubtotalSingapore dollars thousands | (17,191) | PDF p. 90 |
| Loss per share (cents) | ||
| BasicSingapore cents per share | (2.41) | PDF p. 90 |
| DilutedSingapore cents per share | (2.41) | PDF p. 90 |
Definitions & sources
Original report: PDF p. 90 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group cash flows
45 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Group cash flows | ||
| Cash fl ows from operating activities Loss before taxSingapore dollars thousands | (14,657) | PDF p. 94 |
| Adjustment for: Allowance for inventory obsolescenceSingapore dollars thousands | 343 | PDF p. 94 |
| Amortisation of intangible assetsSingapore dollars thousands | 14 | PDF p. 94 |
| Depreciation of land use rightsSingapore dollars thousands | 57 | PDF p. 94 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 2,523 | PDF p. 94 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,818 | PDF p. 94 |
| Finance costsSingapore dollars thousands | 1,412 | PDF p. 94 |
| Gain on disposal of property, plant and equipmentSingapore dollars thousands | (4) | PDF p. 94 |
| Loss allowance on amount due from an associateSingapore dollars thousands | 9,862 | PDF p. 94 |
| Loss allowance on trade receivablesSingapore dollars thousands | 180 | PDF p. 94 |
| Interest incomeSingapore dollars thousands | (92) | PDF p. 94 |
| Inventories written offSingapore dollars thousands | 30 | PDF p. 94 |
| Share of loss of an associateSingapore dollars thousands | 2,753 | PDF p. 94 |
| Share option expensesSingapore dollars thousands | 77 | PDF p. 94 |
| Unrealised foreign exchange differencesSingapore dollars thousands | (276) | PDF p. 94 |
| Operating cash fl ows before changes in working capitalSingapore dollars thousands | 5,040 | PDF p. 94 |
| InventoriesSingapore dollars thousands | 3,205 | PDF p. 94 |
| Trade and other receivablesSingapore dollars thousands | 15,760 | PDF p. 94 |
| Other non-fi nancial assetsSingapore dollars thousands | 2,526 | PDF p. 94 |
| Trade and other payablesSingapore dollars thousands | (7,384) | PDF p. 94 |
| Provision for retirement benefi t obligationsSingapore dollars thousands | (9) | PDF p. 94 |
| Net cash fl ows (used in) from operationsSingapore dollars thousands | 19,138 | PDF p. 94 |
| Interest receivedSingapore dollars thousands | 23 | PDF p. 94 |
| Income taxes paidSingapore dollars thousands | (1,328) | PDF p. 94 |
| Net cash fl ows (used in) from operating activitiesSingapore dollars thousands | 17,833 | PDF p. 94 |
| Cash fl ows from investing activities Acquisition of short-term investmentsSingapore dollars thousands | (10,114) | PDF p. 94 |
| Proceeds from disposal of short-term investmentsSingapore dollars thousands | 10,183 | PDF p. 94 |
| Acquisition of subsidiary, net of cash acquiredSingapore dollars thousands | (2,871) | PDF p. 94 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 4 | PDF p. 94 |
| Proceeds from disposal of intangible assetsSingapore dollars thousands | (394) | PDF p. 94 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (3,691) | PDF p. 94 |
| Purchase of intangible assetsSingapore dollars thousands | – | PDF p. 94 |
| Net cash fl ows used in investing activitiesSingapore dollars thousands | (6,883) | PDF p. 94 |
| Cash fl ows from fi nancing activities Cash restricted in useSingapore dollars thousands | – | PDF p. 95 |
| Proceeds from bank loansSingapore dollars thousands | 79,614 | PDF p. 95 |
| Repayment of bank loansSingapore dollars thousands | (83,998) | PDF p. 95 |
| Initial payment of obligation under leasesSingapore dollars thousands | (3,216) | PDF p. 95 |
| Repayments of principal of lease liabilitiesSingapore dollars thousands | (2,403) | PDF p. 95 |
| Repayments of interest of lease liabilitiesSingapore dollars thousands | (243) | PDF p. 95 |
| Interest paidSingapore dollars thousands | (1,169) | PDF p. 95 |
| Net cash fl ows from (used in) fi nancing activitiesSingapore dollars thousands | (11,415) | PDF p. 95 |
| Net decrease in cash and cash equivalentsSingapore dollars thousands | (465) | PDF p. 95 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars thousands | (121) | PDF p. 95 |
| Cash and cash equivalents, statement of cash fl ows, beginning balanceSingapore dollars thousands | 15,737 | PDF p. 95 |
| Cash and cash equivalents, statement of cash fl ows, ending balanceSingapore dollars thousands | 15,151 | PDF p. 95 |
Definitions & sources
Original report: PDF p. 94 ↗ PDF p. 95 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group financial position
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Property, land and equipmentSingapore dollars thousands | 23,825 | PDF p. 91 |
| Intangible assetsSingapore dollars thousands | 1,447 | PDF p. 91 |
| Land use rightsSingapore dollars thousands | 1,209 | PDF p. 91 |
| Right-of-use assetsSingapore dollars thousands | 14,704 | PDF p. 91 |
| GoodwillSingapore dollars thousands | 6,507 | PDF p. 91 |
| Other receivablesSingapore dollars thousands | – | PDF p. 91 |
| Investment in subsidiariesSingapore dollars thousands | – | PDF p. 91 |
| Investment in associatesSingapore dollars thousands | – | PDF p. 91 |
| Deferred tax assetsSingapore dollars thousands | 563 | PDF p. 91 |
| Total non-current assetsSingapore dollars thousands | 48,255 | PDF p. 91 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 30,055 | PDF p. 91 |
| Trade and other receivablesSingapore dollars thousands | 11,537 | PDF p. 91 |
| Other non-fi nancial assetsSingapore dollars thousands | 3,863 | PDF p. 91 |
| Cash and cash equivalentsSingapore dollars thousands | 15,151 | PDF p. 91 |
| Total current assetsSingapore dollars thousands | 60,606 | PDF p. 91 |
| Total assetsSingapore dollars thousands | 108,861 | PDF p. 91 |
| Equity | ||
| Share capitalSingapore dollars thousands | 66,666 | PDF p. 91 |
| Other reservesSingapore dollars thousands | 4,781 | PDF p. 91 |
| Accumulated lossesSingapore dollars thousands | (18,820) | PDF p. 91 |
| Equity, attributable to owners of the parentSingapore dollars thousands | 52,627 | PDF p. 91 |
| Non-controlling interestSingapore dollars thousands | (1,366) | PDF p. 91 |
| Total equitySingapore dollars thousands | 51,261 | PDF p. 91 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | 322 | PDF p. 91 |
| Loans and borrowingsSingapore dollars thousands | 2,448 | PDF p. 91 |
| Lease liabilitiesSingapore dollars thousands | 5,486 | PDF p. 91 |
| Other payablesSingapore dollars thousands | 45 | PDF p. 91 |
| Retirement benefi t obligationsSingapore dollars thousands | 2,040 | PDF p. 91 |
| Total non-current liabilitiesSingapore dollars thousands | 10,341 | PDF p. 91 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | 538 | PDF p. 91 |
| Loans and borrowingsSingapore dollars thousands | 11,940 | PDF p. 91 |
| Lease liabilitiesSingapore dollars thousands | 5,720 | PDF p. 91 |
| Trade and other payablesSingapore dollars thousands | 29,061 | PDF p. 91 |
| Total current liabilitiesSingapore dollars thousands | 47,259 | PDF p. 91 |
| Total liabilitiesSingapore dollars thousands | 57,600 | PDF p. 91 |
| Total equity and liabilitiesSingapore dollars thousands | 108,861 | PDF p. 91 |
Definitions & sources
Original report: PDF p. 91 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company financial position
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / year ended December31, 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Property, land and equipmentSingapore dollars thousands | 2 | PDF p. 91 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 91 |
| Land use rightsSingapore dollars thousands | – | PDF p. 91 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 91 |
| GoodwillSingapore dollars thousands | – | PDF p. 91 |
| Other receivablesSingapore dollars thousands | 6,250 | PDF p. 91 |
| Investment in subsidiariesSingapore dollars thousands | 16,340 | PDF p. 91 |
| Investment in associatesSingapore dollars thousands | – | PDF p. 91 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 91 |
| Total non-current assetsSingapore dollars thousands | 22,592 | PDF p. 91 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 91 |
| Trade and other receivablesSingapore dollars thousands | 807 | PDF p. 91 |
| Other non-fi nancial assetsSingapore dollars thousands | 12 | PDF p. 91 |
| Cash and cash equivalentsSingapore dollars thousands | 88 | PDF p. 91 |
| Total current assetsSingapore dollars thousands | 907 | PDF p. 91 |
| Total assetsSingapore dollars thousands | 23,499 | PDF p. 91 |
| Equity | ||
| Share capitalSingapore dollars thousands | 66,666 | PDF p. 91 |
| Other reservesSingapore dollars thousands | 3,801 | PDF p. 91 |
| Accumulated lossesSingapore dollars thousands | (49,315) | PDF p. 91 |
| Equity, attributable to owners of the parentSingapore dollars thousands | 21,152 | PDF p. 91 |
| Non-controlling interestSingapore dollars thousands | – | PDF p. 91 |
| Total equitySingapore dollars thousands | 21,152 | PDF p. 91 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 91 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Other payablesSingapore dollars thousands | – | PDF p. 91 |
| Retirement benefi t obligationsSingapore dollars thousands | – | PDF p. 91 |
| Total non-current liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | – | PDF p. 91 |
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 91 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Trade and other payablesSingapore dollars thousands | 2,347 | PDF p. 91 |
| Total current liabilitiesSingapore dollars thousands | 2,347 | PDF p. 91 |
| Total liabilitiesSingapore dollars thousands | 2,347 | PDF p. 91 |
| Total equity and liabilitiesSingapore dollars thousands | 23,499 | PDF p. 91 |
Definitions & sources
Original report: PDF p. 91 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group changes in equity / 2022
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 / Total equity | 2022Group / year ended December31, 2022 / Attributable to parent sub-total | 2022Group / year ended December31, 2022 / Share capital | 2022Group / year ended December31, 2022 / Accumulated losses | 2022Group / year ended December31, 2022 / Currency translation reserve | 2022Group / year ended December31, 2022 / Statutory reserve | 2022Group / year ended December31, 2022 / Share Option reserve | 2022Group / year ended December31, 2022 / Other reserve | 2022Group / year ended December31, 2022 / Non-controlling interest | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Previous year: | ||||||||||
| Opening balance at 1 January 2022Singapore dollars thousands | 65,125 | 66,347 | 63,416 | (3,360) | 962 | 1,473 | 3,724 | 132 | (1,222) | PDF p. 92 |
| Changes in equity: | ||||||||||
| Total comprehensive loss for the yearSingapore dollars thousands | (15,093) | (14,904) | – | (14,904) | – | – | – | – | (189) | PDF p. 92 |
| Issuance of share capital (Note 25)Singapore dollars thousands | 3,250 | 3,250 | 3,250 | – | – | – | – | – | – | PDF p. 92 |
| Exchange difference arising from translation of foreign operations (Note 26B)Singapore dollars thousands | (1,542) | (1,577) | – | – | (1,577) | – | – | – | 35 | PDF p. 92 |
| Remeasurement of defi ned benefi t schemeSingapore dollars thousands | (556) | (556) | – | (556) | – | – | – | – | – | PDF p. 92 |
| Share option expenses (Note 26D)Singapore dollars thousands | 77 | 77 | – | – | – | – | 77 | – | – | PDF p. 92 |
| Acquisition of non-controlling interests without a change in controlSingapore dollars thousands | – | (10) | – | – | – | – | – | (10) | 10 | PDF p. 92 |
| Closing balance at 31 December 2022Singapore dollars thousands | 51,261 | 52,627 | 66,666 | (18,820) | (615) | 1,473 | 3,801 | 122 | (1,366) | PDF p. 92 |
Definitions & sources
Original report: PDF p. 92 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company changes in equity / 2022
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / year ended December31, 2022 / Total equity | 2022Company / year ended December31, 2022 / Share capital | 2022Company / year ended December31, 2022 / Accumulated losses | 2022Company / year ended December31, 2022 / Share Options reserve | Source |
|---|---|---|---|---|---|
| Previous year: | |||||
| Opening balance at 1 January 2022Singapore dollars thousands | 31,463 | 63,416 | (35,677) | 3,724 | PDF p. 93 |
| Changes in equity: | |||||
| Total comprehensive loss for the yearSingapore dollars thousands | (13,638) | – | (13,638) | – | PDF p. 93 |
| Share-based payments plan value of employee servicesSingapore dollars thousands | 77 | – | 77 | PDF p. 93 | |
| Issuance of share capitalSingapore dollars thousands | 3,250 | 3,250 | – | – | PDF p. 93 |
| Closing balance at 31 December 2022Singapore dollars thousands | 21,152 | 66,666 | (49,315) | 3,801 | PDF p. 93 |
Definitions & sources
Original report: PDF p. 93 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group profit or loss and comprehensive income
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Group profit or loss and comprehensive income | ||
| RevenueSingapore dollars thousands | 117,488 | PDF p. 81 |
| Cost of salesSingapore dollars thousands | (99,204) | PDF p. 81 |
| Gross profitSingapore dollars thousands | 18,284 | PDF p. 81 |
| Other items of income | ||
| Other incomeSingapore dollars thousands | 1,774 | PDF p. 81 |
| Interest incomeSingapore dollars thousands | 174 | PDF p. 81 |
| Other items of expense Selling and distribution expensesSingapore dollars thousands | (9,916) | PDF p. 81 |
| Administrative expensesSingapore dollars thousands | (4,002) | PDF p. 81 |
| Other expensesSingapore dollars thousands | (17) | PDF p. 81 |
| Finance costsSingapore dollars thousands | (466) | PDF p. 81 |
| Loss allowance on trade receivables and amount due from an associateSingapore dollars thousands | – | PDF p. 81 |
| Share of loss of an associate, net of taxSingapore dollars thousands | (10) | PDF p. 81 |
| (Loss)/Profit before income taxSingapore dollars thousands | 5,821 | PDF p. 81 |
| Income tax expenseSingapore dollars thousands | (772) | PDF p. 81 |
| (Loss)/Profit for the financial yearSingapore dollars thousands | 5,049 | PDF p. 81 |
| Item that may not be reclassified subsequently to profit or loss | ||
| Remeasurement of defined benefit pension schemeSingapore dollars thousands | (95) | PDF p. 81 |
| Item that may be reclassified subsequently to profit or loss | ||
| Exchange differences arising from translation of foreign operationsSingapore dollars thousands | 1,353 | PDF p. 81 |
| Other comprehensive income for the financial year, net of taxSingapore dollars thousands | 1,258 | PDF p. 81 |
| Total comprehensive income for the financial yearSingapore dollars thousands | 6,307 | PDF p. 81 |
| (Loss)/Profit attributable to: Owners of the parentSingapore dollars thousands | 5,166 | PDF p. 81 |
| Non-controlling interestsSingapore dollars thousands | (117) | PDF p. 81 |
| SubtotalSingapore dollars thousands | 5,049 | PDF p. 81 |
| Total comprehensive income attributable to: Owners of the parentSingapore dollars thousands | 6,411 | PDF p. 81 |
| Non-controlling interestsSingapore dollars thousands | (104) | PDF p. 81 |
| SubtotalSingapore dollars thousands | 6,307 | PDF p. 81 |
| (Loss)/Earnings per share (cents) | ||
| BasicSingapore cents per share | 0.99 | PDF p. 81 |
| DilutedSingapore cents per share | 0.99 | PDF p. 81 |
Definitions & sources
Original report: PDF p. 81 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group cash flows
49 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Operating activities | ||
| (Loss)/Profit before income taxSingapore dollars thousands | 5,821 | PDF p. 86 |
| Adjustments for: | ||
| Allowance for inventory obsolescenceSingapore dollars thousands | – | PDF p. 86 |
| Amortisation of intangible assetsSingapore dollars thousands | 5 | PDF p. 86 |
| Amortisation of land use rightsSingapore dollars thousands | 57 | PDF p. 86 |
| Amortisation of right-of-use assetsSingapore dollars thousands | 1,529 | PDF p. 86 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,616 | PDF p. 86 |
| Finance costsSingapore dollars thousands | 466 | PDF p. 86 |
| Gain on disposal of property, plant and equipmentSingapore dollars thousands | (459) | PDF p. 86 |
| Loss allowance on amount due from an associateSingapore dollars thousands | – | PDF p. 86 |
| Loss allowance on trade receivablesSingapore dollars thousands | – | PDF p. 86 |
| Interest incomeSingapore dollars thousands | (174) | PDF p. 86 |
| Inventories written offSingapore dollars thousands | 51 | PDF p. 86 |
| Overprovision of retirement benefits obligation in prior yearSingapore dollars thousands | (531) | PDF p. 86 |
| Share of loss of an associateSingapore dollars thousands | 10 | PDF p. 86 |
| Share option expensesSingapore dollars thousands | – | PDF p. 86 |
| Unrealised exchange differenceSingapore dollars thousands | (132) | PDF p. 86 |
| Operating profit before working capital changesSingapore dollars thousands | 9,259 | PDF p. 86 |
| Working capital changes: InventoriesSingapore dollars thousands | (18,959) | PDF p. 86 |
| Trade receivablesSingapore dollars thousands | 12,222 | PDF p. 86 |
| Other receivables and depositsSingapore dollars thousands | (3,346) | PDF p. 86 |
| PrepaymentsSingapore dollars thousands | (35) | PDF p. 86 |
| Due from an associateSingapore dollars thousands | (9) | PDF p. 86 |
| Trade payablesSingapore dollars thousands | 5,167 | PDF p. 86 |
| Other payables and accrualsSingapore dollars thousands | (2,037) | PDF p. 86 |
| Provision for retirement benefit obligationsSingapore dollars thousands | 115 | PDF p. 86 |
| Cash generated from operationsSingapore dollars thousands | 2,377 | PDF p. 86 |
| Interest receivedSingapore dollars thousands | 174 | PDF p. 86 |
| Income taxes paidSingapore dollars thousands | (1,062) | PDF p. 86 |
| Net cash generated from operating activitiesSingapore dollars thousands | 1,489 | PDF p. 86 |
| Investing activities | ||
| Acquisition of short-term investmentsSingapore dollars thousands | (14,435) | PDF p. 87 |
| Proceeds from disposal of short-term investmentsSingapore dollars thousands | 15,059 | PDF p. 87 |
| Acquisition of subsidiary, net of cash acquiredSingapore dollars thousands | – | PDF p. 87 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 472 | PDF p. 87 |
| Purchase of intangible assetsSingapore dollars thousands | – | PDF p. 87 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (865) | PDF p. 87 |
| Loan to an associateSingapore dollars thousands | (461) | PDF p. 87 |
| Net cash used in investing activitiesSingapore dollars thousands | (230) | PDF p. 87 |
| Financing activities | ||
| Proceeds from bank loansSingapore dollars thousands | 65,803 | PDF p. 87 |
| Repayment of bank loansSingapore dollars thousands | (60,677) | PDF p. 87 |
| Proceeds from issue of ordinary sharesSingapore dollars thousands | 4,825 | PDF p. 87 |
| Initial payment of obligation under leasesSingapore dollars thousands | (557) | PDF p. 87 |
| Repayments of principal of lease liabilitiesSingapore dollars thousands | (1,560) | PDF p. 87 |
| Repayments of interest of lease liabilitiesSingapore dollars thousands | (125) | PDF p. 87 |
| Interest paidSingapore dollars thousands | (341) | PDF p. 87 |
| Net cash (used in)/generated from financing activitiesSingapore dollars thousands | 7,368 | PDF p. 87 |
| Net change in cash and cash equivalentsSingapore dollars thousands | 8,627 | PDF p. 87 |
| Effect of foreign exchange rate changes in cash and cash equivalentsSingapore dollars thousands | 46 | PDF p. 87 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 7,064 | PDF p. 87 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 15,737 | PDF p. 87 |
Definitions & sources
Original report: PDF p. 86 ↗ PDF p. 87 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group financial position
44 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | 23,485 | PDF p. 82 |
| Intangible assetsSingapore dollars thousands | 8 | PDF p. 82 |
| Right-of-use assetsSingapore dollars thousands | 5,733 | PDF p. 82 |
| Land use rightsSingapore dollars thousands | 1,382 | PDF p. 82 |
| Exploration and evaluation assetsSingapore dollars thousands | – | PDF p. 82 |
| Investment in subsidiariesSingapore dollars thousands | – | PDF p. 82 |
| Investment in an associateSingapore dollars thousands | 2,753 | PDF p. 82 |
| Due from an associateSingapore dollars thousands | 9,862 | PDF p. 82 |
| Deferred tax assetsSingapore dollars thousands | 37 | PDF p. 82 |
| GoodwillSingapore dollars thousands | 112 | PDF p. 82 |
| Due from a subsidiarySingapore dollars thousands | – | PDF p. 82 |
| SubtotalSingapore dollars thousands | 43,372 | PDF p. 82 |
| Current assets | ||
| Due from subsidiariesSingapore dollars thousands | – | PDF p. 82 |
| InventoriesSingapore dollars thousands | 33,907 | PDF p. 82 |
| Trade receivablesSingapore dollars thousands | 26,535 | PDF p. 82 |
| Other receivables and depositsSingapore dollars thousands | 6,492 | PDF p. 82 |
| PrepaymentsSingapore dollars thousands | 236 | PDF p. 82 |
| Due from a related partySingapore dollars thousands | 282 | PDF p. 82 |
| Cash and bank balancesSingapore dollars thousands | 15,737 | PDF p. 82 |
| SubtotalSingapore dollars thousands | 83,189 | PDF p. 82 |
| Total assetsSingapore dollars thousands | 126,561 | PDF p. 82 |
| Current liabilities | ||
| Due to a subsidiarySingapore dollars thousands | – | PDF p. 83 |
| Trade payablesSingapore dollars thousands | 26,356 | PDF p. 83 |
| Other payables and accrualsSingapore dollars thousands | 8,478 | PDF p. 83 |
| Lease liabilitiesSingapore dollars thousands | 1,487 | PDF p. 83 |
| Current income tax payableSingapore dollars thousands | 871 | PDF p. 83 |
| Loans and borrowingsSingapore dollars thousands | 14,524 | PDF p. 83 |
| SubtotalSingapore dollars thousands | 51,716 | PDF p. 83 |
| Net current (liabilities)/assetsSingapore dollars thousands | 31,473 | PDF p. 83 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | 108 | PDF p. 83 |
| Other payables and accrualsSingapore dollars thousands | 511 | PDF p. 83 |
| Lease liabilitiesSingapore dollars thousands | 3,638 | PDF p. 83 |
| Loans and borrowingsSingapore dollars thousands | 3,970 | PDF p. 83 |
| Retirement benefit obligationsSingapore dollars thousands | 1,493 | PDF p. 83 |
| SubtotalSingapore dollars thousands | 9,720 | PDF p. 83 |
| Total liabilitiesSingapore dollars thousands | 61,436 | PDF p. 83 |
| Net assetsSingapore dollars thousands | 65,125 | PDF p. 83 |
| Equity attributable to owners of the parent Share capitalSingapore dollars thousands | 63,416 | PDF p. 83 |
| Accumulated lossesSingapore dollars thousands | (3,360) | PDF p. 83 |
| Other reservesSingapore dollars thousands | 6,291 | PDF p. 83 |
| SubtotalSingapore dollars thousands | 66,347 | PDF p. 83 |
| Non-controlling interestsSingapore dollars thousands | (1,222) | PDF p. 83 |
| Total equitySingapore dollars thousands | 65,125 | PDF p. 83 |
| Total equity and liabilitiesSingapore dollars thousands | 126,561 | PDF p. 83 |
Definitions & sources
Original report: PDF p. 82 ↗ PDF p. 83 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company financial position
44 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / year ended December31, 2021 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | 3 | PDF p. 82 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 82 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 82 |
| Land use rightsSingapore dollars thousands | – | PDF p. 82 |
| Exploration and evaluation assetsSingapore dollars thousands | – | PDF p. 82 |
| Investment in subsidiariesSingapore dollars thousands | 16,263 | PDF p. 82 |
| Investment in an associateSingapore dollars thousands | 2,791 | PDF p. 82 |
| Due from an associateSingapore dollars thousands | 9,862 | PDF p. 82 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 82 |
| GoodwillSingapore dollars thousands | – | PDF p. 82 |
| Due from a subsidiarySingapore dollars thousands | – | PDF p. 82 |
| SubtotalSingapore dollars thousands | 28,919 | PDF p. 82 |
| Current assets | ||
| Due from subsidiariesSingapore dollars thousands | 2,408 | PDF p. 82 |
| InventoriesSingapore dollars thousands | – | PDF p. 82 |
| Trade receivablesSingapore dollars thousands | – | PDF p. 82 |
| Other receivables and depositsSingapore dollars thousands | 4 | PDF p. 82 |
| PrepaymentsSingapore dollars thousands | 10 | PDF p. 82 |
| Due from a related partySingapore dollars thousands | – | PDF p. 82 |
| Cash and bank balancesSingapore dollars thousands | 768 | PDF p. 82 |
| SubtotalSingapore dollars thousands | 3,190 | PDF p. 82 |
| Total assetsSingapore dollars thousands | 32,109 | PDF p. 82 |
| Current liabilities | ||
| Due to a subsidiarySingapore dollars thousands | 405 | PDF p. 83 |
| Trade payablesSingapore dollars thousands | – | PDF p. 83 |
| Other payables and accrualsSingapore dollars thousands | 241 | PDF p. 83 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 83 |
| Current income tax payableSingapore dollars thousands | – | PDF p. 83 |
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 83 |
| SubtotalSingapore dollars thousands | 646 | PDF p. 83 |
| Net current (liabilities)/assetsSingapore dollars thousands | 2,544 | PDF p. 83 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 83 |
| Other payables and accrualsSingapore dollars thousands | – | PDF p. 83 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 83 |
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 83 |
| Retirement benefit obligationsSingapore dollars thousands | – | PDF p. 83 |
| SubtotalSingapore dollars thousands | – | PDF p. 83 |
| Total liabilitiesSingapore dollars thousands | 646 | PDF p. 83 |
| Net assetsSingapore dollars thousands | 31,463 | PDF p. 83 |
| Equity attributable to owners of the parent Share capitalSingapore dollars thousands | 63,416 | PDF p. 83 |
| Accumulated lossesSingapore dollars thousands | (35,677) | PDF p. 83 |
| Other reservesSingapore dollars thousands | 3,724 | PDF p. 83 |
| SubtotalSingapore dollars thousands | 31,463 | PDF p. 83 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 83 |
| Total equitySingapore dollars thousands | 31,463 | PDF p. 83 |
| Total equity and liabilitiesSingapore dollars thousands | 32,109 | PDF p. 83 |
Definitions & sources
Original report: PDF p. 82 ↗ PDF p. 83 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Group changes in equity / 2021
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 / Share capital | 2021Group / year ended December31, 2021 / Accumulated losses | 2021Group / year ended December31, 2021 / Foreign currency translation reserve | 2021Group / year ended December31, 2021 / Statutory reserve | 2021Group / year ended December31, 2021 / Share options reserve | 2021Group / year ended December31, 2021 / Equity non-controlling interests | 2021Group / year ended December31, 2021 / Total equity attributable to owners of the parent | 2021Group / year ended December31, 2021 / Non-controlling interests | 2021Group / year ended December31, 2021 / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Group | ||||||||||
| Balance at 1 January 2021Singapore dollars thousands | 58,591 | (8,310) | (378) | 1,352 | 3,724 | 132 | 55,111 | (1,118) | 53,993 | PDF p. 84 |
| Profit for the financial yearSingapore dollars thousands | – | 5,166 | – | – | – | – | 5,166 | (117) | 5,049 | PDF p. 84 |
| Other comprehensive income for the financial year Remeasurement of defined benefit schemeSingapore dollars thousands | – | (95) | – | – | – | – | (95) | – | (95) | PDF p. 84 |
| Exchange differences arising from translation of foreign operationsSingapore dollars thousands | – | – | 1,340 | – | – | – | 1,340 | 13 | 1,353 | PDF p. 84 |
| Total comprehensive income for the financial yearSingapore dollars thousands | – | 5,071 | 1,340 | – | – | – | 6,411 | (104) | 6,307 | PDF p. 84 |
| Total transactions with owners, recognised directly in equity Issuance of ordinary sharesSingapore dollars thousands | 4,825 | – | – | – | – | – | 4,825 | – | 4,825 | PDF p. 84 |
| Transfer to statutory reserveSingapore dollars thousands | – | (121) | – | 121 | – | – | – | – | – | PDF p. 84 |
| SubtotalSingapore dollars thousands | 4,825 | (121) | – | 121 | – | – | 4,825 | – | 4,825 | PDF p. 84 |
| Balance at 31 December 2021Singapore dollars thousands | 63,416 | (3,360) | 962 | 1,473 | 3,724 | 132 | 66,347 | (1,222) | 65,125 | PDF p. 84 |
Definitions & sources
Original report: PDF p. 84 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Company changes in equity / 2021
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / year ended December31, 2021 / Share capital | 2021Company / year ended December31, 2021 / Accumulated losses | 2021Company / year ended December31, 2021 / Share options reserve | 2021Company / year ended December31, 2021 / Total equity | Source |
|---|---|---|---|---|---|
| Company | |||||
| Balance at 1 January 2021Singapore dollars thousands | 58,591 | (34,928) | 3,724 | 27,387 | PDF p. 85 |
| Loss for the financial year, representing total comprehensive income for financial yearSingapore dollars thousands | – | (749) | – | (749) | PDF p. 85 |
| Total transactions with owners, recognised directly in equity Issuance of ordinary sharesSingapore dollars thousands | 4,825 | – | – | 4,825 | PDF p. 85 |
| Balance at 31 December 2021Singapore dollars thousands | 63,416 | (35,677) | 3,724 | 31,463 | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Where the money comes from
Segment information
By business
Reportable segment profit or loss, assets and liabilities - Continuing operations 12 lines
| Item / unit | 2025Mechanisms | 2025Microshafts | 2025Electric vehicle | 2025Unallocated segment | 2025Eliminations | 2025Group | 2024Mechanisms | 2024Microshafts | 2024Electric vehicle | 2024Unallocated segment | 2024Eliminations | 2024Group | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue by segment | |||||||||||||
| External customers$'000 | 141,638 | 16,783 | 46 | – | – | 158,467 | 82,578 | 17,276 | 24 | – | – | 99,878 | PDF p. 110PDF p. 111 |
| Intersegment revenues$'000 | 23,594 | 2,171 | – | 180 | (25,945) | – | 16,705 | 2,165 | 447 | 180 | (19,497) | – | PDF p. 110PDF p. 111 |
| Results | |||||||||||||
| Operating profit / (loss)$'000 | 1,318 | (383) | (7,617) | (1,108) | 1,241 | (6,549) | PDF p. 110 | ||||||
| Segment assets and liabilities | |||||||||||||
| Segment assets$'000 | 43,793 | 15,453 | 1,861 | 164 | – | 61,271 | 58,392 | 18,627 | 7,217 | 6,114 | – | 90,350 | PDF p. 110PDF p. 111 |
| Segment liabilities$'000 | 32,493 | 4,594 | 1,931 | 342 | – | 39,360 | 50,275 | 4,588 | 2,203 | 2,338 | – | 59,404 | PDF p. 110PDF p. 111 |
| Other segment information | |||||||||||||
| Addition to property, plant and equipment$'000 | 932 | 801 | 53 | – | – | 1,786 | 1,869 | 127 | 262 | – | – | 2,258 | PDF p. 110PDF p. 111 |
| Addition to intangible assets$'000 | – | 11 | 275 | – | – | 286 | – | – | 426 | – | – | 426 | PDF p. 110PDF p. 111 |
| Depreciation and amortisation$'000 | (5,153) | (942) | (1,060) | – | – | (7,155) | (5,301) | (1,101) | (830) | (2) | – | (7,234) | PDF p. 110PDF p. 111 |
| Impairment of EV segment assets$'000 | – | – | (4,002) | – | – | (4,002) | PDF p. 110 | ||||||
| Results | |||||||||||||
| Operating (loss) / profit$'000 | (5,768) | (814) | (11,788) | (1,206) | 5,179 | (14,397) | PDF p. 111 | ||||||
| Other segment information | |||||||||||||
| Expected credit losses$'000 | (83) | – | (907) | (5) | – | (995) | PDF p. 111 | ||||||
| Impairment loss of goodwill$'000 | – | – | (6,395) | – | – | (6,395) | PDF p. 111 | ||||||
Notes
Group-level reconciling lines printed: Interest income 65; Finance costs (687); Loss before tax from continuing operations (7,171); Income tax expense (681); Loss from continuing operations (7,852); Total assets 61,271; Total liabilities 39,360.
Group financing (including finance costs) and income taxes are managed on a group basis and are not allocated to operating segments.
Group-level reconciling lines printed: Interest income 128; Finance costs (2,044); Loss before tax from continuing operations (16,313); Income tax expense (308); Loss from continuing operations (16,621); Total assets 90,350; Total liabilities 59,404.
By geography
Geographical information - Revenue by primary geographical market and by segment 15 lines
| Item / unit | 2025Mechanisms | 2024Mechanisms | 2025Microshafts | 2024Microshafts | 2025Electric vehicle | 2024Electric vehicle | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Primary geographical markets | |||||||||
| Indonesia$'000 | 58,506 | 67,299 | 458 | 816 | – | – | 58,964 | 68,115 | PDF p. 112 |
| China$'000 | – | 33 | 7,363 | 7,185 | – | – | 7,363 | 7,218 | PDF p. 112 |
| Singapore$'000 | 10,032 | 11,050 | 827 | 847 | – | – | 10,859 | 11,897 | PDF p. 112 |
| Italy$'000 | – | – | 1,419 | 1,401 | – | – | 1,419 | 1,401 | PDF p. 112 |
| Germany$'000 | – | – | 1,174 | 1,121 | – | – | 1,174 | 1,121 | PDF p. 112 |
| Malaysia$'000 | 72 | 47 | 1,433 | 1,577 | – | – | 1,505 | 1,624 | PDF p. 112 |
| Japan$'000 | 711 | 773 | 121 | 115 | – | – | 832 | 888 | PDF p. 112 |
| United State of America$'000 | 63,364 | – | 580 | – | – | – | 63,944 | – | PDF p. 112 |
| Thailand$'000 | 126 | – | 369 | 338 | 46 | 24 | 541 | 362 | PDF p. 112 |
| Hong Kong$'000 | 5,987 | – | 76 | – | – | – | 6,063 | – | PDF p. 112 |
| Others$'000 | 2,840 | 3,365 | 2,963 | 3,887 | – | – | 5,803 | 7,252 | PDF p. 112 |
| Total (unlabelled)$'000 | 141,368 | 82,567 | 16,783 | 17,287 | 46 | 24 | 158,467 | 99,878 | PDF p. 112 |
| Type of goods or services | |||||||||
| Sale of goods$'000 | 78,195 | 74,342 | 16,783 | 17,278 | 46 | 24 | 95,024 | 91,644 | PDF p. 112 |
| Services rendered$'000 | 63,443 | 8,225 | – | 9 | – | – | 63,443 | 8,234 | PDF p. 112 |
| Total (unlabelled)$'000 | 141,638 | 82,567 | 16,783 | 17,287 | 46 | 24 | 158,467 | 99,878 | PDF p. 112 |
Notes
Revenue is attributed to countries on the basis of the customer's location, irrespective of the origin of the goods and services.
Printed Mechanisms 2025 total of the geographic block is 141,368 whereas the type-of-goods block and Note 4A show 141,638; printed as in source.
Geographical information - Non-current assets and additions to non-current assets 5 lines
| Item / unit | 2025Non-current assets | 2024Non-current assets | 2025Additions to non-current assets | 2024Additions to non-current assets | Source |
|---|---|---|---|---|---|
| Primary geographical markets | |||||
| Singapore$'000 | 4,258 | 13,264 | 593 | 127 | PDF p. 112 |
| Indonesia$'000 | 18,675 | 18,272 | 788 | 1,869 | PDF p. 112 |
| China$'000 | 4,778 | 5,286 | 397 | 262 | PDF p. 112 |
| Thailand$'000 | 806 | 562 | 8 | – | PDF p. 112 |
| Total (unlabelled)$'000 | 28,517 | 37,384 | 1,786 | 2,258 | PDF p. 112 |
Notes
The non-current assets are analysed by the geographical area in which the assets are located.
Debt
Borrowings
Group liquidity risk – contractual undiscounted maturity:
| Item / unit | 2025less than 1 year, $'000 | 20251 to 5 years, $'000 | 2025total, $'000 | 2024less than 1 year, $'000 | 20241 to 5 years, $'000 | 2024total, $'000 | Source |
|---|---|---|---|---|---|---|---|
| Gross borrowings commitments$'000 | 4,214 | 1,276 | 5,490 | 15,193 | 2,850 | 18,043 | PDF p. 142 |
| Gross finance lease obligations$'000 | 2,497 | 1,313 | 3,810 | 2,882 | 3,510 | 6,392 | PDF p. 142 |
Notes
Contractual undiscounted cash flows of non-derivative financial liabilities.
Borrowing notes 3 tables
Loans and borrowings
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Non-current: Financial instruments with fixed interest rates | |||
| Bank loan (secured) (Note 26A)$'000 | 1,276 | 2,669 | PDF p. 137 |
| Non-current | |||
| Total non-current portion$'000 | 1,276 | 2,669 | PDF p. 137 |
| Current portion: Financial instruments with fixed interest rates | |||
| Trust receipts and bills payable to bank (Note 26B)$'000 | – | 8,336 | PDF p. 137 |
| Bank loan (secured) (Note 26A)$'000 | 4,214 | 6,425 | PDF p. 137 |
| Current portion | |||
| Total current portion$'000 | 4,214 | 14,761 | PDF p. 137 |
| Total | |||
| Total non-current and current$'000 | 5,490 | 17,430 | PDF p. 137 |
| The non-current portion is repayable as follows | |||
| Due 1 to 5 years$'000 | 1,276 | 2,669 | PDF p. 137 |
Notes
Bank loans are secured; guaranteed by corporate guarantee from the Company, subject to financial covenants (Note 26A). Short term borrowings have maturity of 1 to 6 months; term loans repayable monthly over 48 to 60 months. Trust receipts repayable within 1 to 6 months (26B).
All borrowings are fixed interest rate instruments; no after-5-years maturity printed.
Lease liabilities
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Lease liabilities | |||
| Lease liabilities, current$'000 | 2,377 | 2,668 | PDF p. 129 |
| Lease liabilities, non-current$'000 | 1,291 | 3,378 | PDF p. 129 |
Notes
Weighted average incremental borrowing rate applied to lease liabilities is 1.6% to 4.5 % (2024: 1.6% to 4.5 %) per year.
Total 3,668 (2025) and 6,046 (2024) printed as unlabelled subtotal.
Undrawn borrowing facilities
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Bank facilities | |||
| Total undrawn borrowing facilities$'000 | 9,861 | 27,588 | PDF p. 143 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company has not adopted a fixed dividend policy. The form, frequency and number 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 shareholders’ expectations and prudent capital management. | Group | PDF p. 78 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | Accordingly, a dividend was not recommended for FY2025. | FY2025 | PDF p. 78 |
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 | RSM SG Assurance LLP | Group | PDF p. 92 |
| Engagement partner | Ng Thiam Soon | Group | PDF p. 92 |
| Opinion | In our opinion, the accompanying consolidated financial statements of the Group and the statement of financial position and statement of changes in equity of the Company are properly drawn up | Group and Company | PDF p. 88 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | These events or conditions appear to cast significant doubt upon the Group’s ability to continue as a going concern. | Group | PDF p. 98 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Assessment of impairment of non-financial assets of the Electric Vehicle (“EV”) segment | Assessment of impairment of non-financial assets of the Electric Vehicle (“EV”) segment | Group | PDF p. 88 |
| Assessment of impairment of inventories | Assessment of impairment of inventories | Group | PDF p. 89 |
| Assessing expected credit loss allowance on trade receivables | Assessing expected credit loss allowance on trade receivables | Group | PDF p. 89 |
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.
All periods end on31December. Singapore dollars thousands for primary statements; earnings/loss per share is Singapore cents. Group and parent Company scopes remain distinct.
Five primary years2021–2025 use four official annual reports, selecting the latest available comparative for each target year. Company financial position and equity movements are printed; no separate Company profit/loss or cash-flow statements are printed.
RSM SG Assurance LLP issued an unmodified FY2025 opinion, signed10April2026 by Ng Thiam Soon. Source Note1 discloses Group loss7852thousand and net current liabilities1556thousand; these disclosures and management’s going-concern assessment must be read with the original auditor report.
Original five-year summary is retained as reported. Its rounded components and exact primary amounts differ in several places, including total equity22.0/31.0/65.2million for2025/2024/2021 versus exact21.911/30.946/65.125million. Visible summary capital/reserve rows sum24.0/48.9/62.6million for2025/2022/2021 versus printed totals24.2/52.6/66.4million; older primary statements include share-option reserves not separately shown in that summary. Printed NTA cents are retained without inventing an undisclosed common formula.
FY2025source EPS is(0.74)cents but Note11prints a positive loss magnitude7768thousand and weighted ordinaryshares1066863thousand, whose direct loss/share ratio rounds(0.73)cents. FY2024printed(1.93)cents agrees with15764/817781. Original rates and input magnitudes are both retained. Note11retrospectively adjusts share bases for rights-issue bonus elements; FY2023latestcomparison(1.09)cents differs from originally reported(1.40)cents. Earlier EPS sources retain their own original reporting bases.
The FY2023original Company equity schedule contains one genuinely unprinted share-capital movement cell for FY2022share-based payments. It remains blank. The same report’s GroupFY2022row caption Total comprehensive loss for the year carries netloss15093thousand, withFX1542andremeasurement556on separate rows; full comprehensive loss is17191thousand. Original captions and values are retained.
Group bank cash3890/9034/14883thousand at2025/2024/2023 excludes pledged342/364/351thousand to arrive at cash-flow cash3548/8670/14532. FY2021bankcash14888plusshort-termdeposits849equals15737. Distinct cash scopes are retained.
Original geographic revenue table prints2025Mechanisms total141368thousand while its country rows total141638; printedGroup revenue158467matches the correct country sum plus other segments. FY2024geography/goods split82567/17287differs from segment table82578/17276, withGroup99878unchanged. Both source presentations are retained and qualified.
Reported EBITDA0.67/(7.04)million and adjustedEBITDA4.67/(0.64)million numerically reconcile to precise pretax results plus finance costs and depreciation/amortisation, withEVimpairments4002/6395thousand added for the adjusted metric. This is an independent arithmetic reconciliation; a separate complete formal EBITDA formula is not printed.
No separate Company income or cash-flow statement, nor a formal five-year ROE series is printed. Ordinary dividend payments are not inferred from generic capital-management language or equity/share-issue movements.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.