Annual Report 2026
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$'000 | 283,998 | 178,443 | PDF p. 81 |
| Cost of sales$'000 | (207,834) | (125,691) | PDF p. 81 |
| Gross profit$'000 | 76,164 | 52,752 | PDF p. 81 |
| Other operating income$'000 | 410 | 1,208 | PDF p. 81 |
| Distribution costs$'000 | (33,761) | (26,704) | PDF p. 81 |
| Administrative expenses$'000 | (9,320) | (7,179) | PDF p. 81 |
| Other operating expenses$'000 | (388) | (54) | PDF p. 81 |
| Impairment loss on trade receivables, net$'000 | (1,847) | (1,329) | PDF p. 81 |
| Share of loss of associate$'000 | (709) | (636) | PDF p. 81 |
| Finance costs$'000 | (3,031) | (2,985) | PDF p. 81 |
| Profit before tax$'000 | 27,518 | 15,073 | PDF p. 81 |
| Income tax expense$'000 | (4,868) | (2,529) | PDF p. 81 |
| Profit after tax$'000 | 22,650 | 12,544 | PDF p. 81 |
| Other comprehensive income | |||
| Foreign currency translation$'000 | 20 | (172) | PDF p. 81 |
| Total comprehensive income$'000 | 22,670 | 12,372 | PDF p. 81 |
| Profit after tax attributable to | |||
| Owners of the Company$'000 | 22,650 | 12,544 | PDF p. 81 |
| Non-controlling interest$'000 | – | – | PDF p. 81 |
| Subtotal$'000 | 22,650 | 12,544 | PDF p. 81 |
| Total comprehensive income attributable to | |||
| Owners of the Company$'000 | 22,670 | 12,372 | PDF p. 81 |
| Non-controlling interest$'000 | – | – | PDF p. 81 |
| Subtotal$'000 | 22,670 | 12,372 | PDF p. 81 |
| Earnings per share | |||
| Basic and Diluted (cents)cents per share | 4.05 | 2.24 | PDF p. 81 |
Original report: PDF p. 81 ↗
For the financial year ended 30 June 2026. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Investment in subsidiaries$'000 | – | – | 82,276 | 82,276 | PDF p. 82 |
| Investment in associate$'000 | 3,100 | 3,809 | – | – | PDF p. 82 |
| Right of use assets$'000 | 10,723 | 8,796 | – | – | PDF p. 82 |
| Property, plant and equipment$'000 | 15,327 | 14,704 | – | – | PDF p. 82 |
| Trademarks$'000 | – | – | – | – | PDF p. 82 |
| Other receivables$'000 | 1,123 | 1,134 | – | – | PDF p. 82 |
| Deferred tax assets$'000 | 318 | 336 | – | – | PDF p. 82 |
| Subtotal$'000 | 30,591 | 28,779 | 82,276 | 82,276 | PDF p. 82 |
| Current assets | |||||
| Inventories$'000 | 138,277 | 130,539 | – | – | PDF p. 82 |
| Trade and other receivables$'000 | 126,248 | 77,626 | 12,724 | 13,040 | PDF p. 82 |
| Prepayments$'000 | 172 | 122 | – | – | PDF p. 82 |
| Cash and bank balances$'000 | 28,275 | 15,035 | 2,969 | 1,199 | PDF p. 82 |
| Subtotal$'000 | 292,972 | 223,322 | 15,693 | 14,239 | PDF p. 82 |
| Assets | |||||
| Total assets$'000 | 323,563 | 252,101 | 97,969 | 96,515 | PDF p. 82 |
| Current liabilities | |||||
| Loans and borrowings$'000 | 97,198 | 49,495 | – | – | PDF p. 82 |
| Bullion loans$'000 | 2,809 | 4,775 | – | – | PDF p. 82 |
| Trade and other payables$'000 | 32,958 | 26,889 | 1,482 | 38 | PDF p. 82 |
| Lease liabilities$'000 | 4,559 | 4,675 | – | – | PDF p. 82 |
| Income tax payable$'000 | 4,852 | 2,679 | – | – | PDF p. 82 |
| Subtotal$'000 | 142,376 | 88,513 | 1,482 | 38 | PDF p. 82 |
| Liabilities | |||||
| NET CURRENT ASSETS$'000 | 150,596 | 134,809 | 14,211 | 14,201 | PDF p. 82 |
| Non-current liabilities | |||||
| Loans and borrowings$'000 | 13,291 | 18,304 | – | – | PDF p. 82 |
| Lease liabilities$'000 | 5,308 | 3,890 | – | – | PDF p. 82 |
| Trade and other payables$'000 | 246 | 223 | – | – | PDF p. 82 |
| Subtotal$'000 | 18,845 | 22,417 | – | – | PDF p. 82 |
| Liabilities | |||||
| Total liabilities$'000 | 161,221 | 110,930 | 1,482 | 38 | PDF p. 82 |
| Net assets | |||||
| NET ASSETS$'000 | 162,342 | 141,171 | 96,487 | 96,477 | PDF p. 82 |
| Equity attributable to owners of the Company | |||||
| Share capital$'000 | 96,719 | 96,719 | 96,719 | 96,719 | PDF p. 82 |
| Merger reserve$'000 | (64,502) | (64,502) | – | – | PDF p. 82 |
| Treasury shares$'000 | (698) | (698) | (698) | (698) | PDF p. 82 |
| Translation reserve$'000 | 554 | 534 | – | – | PDF p. 82 |
| Retained earnings$'000 | 130,271 | 109,120 | 466 | 456 | PDF p. 82 |
| Equity | |||||
| Equity attributable to owners of the Company$'000 | 162,344 | 141,173 | 96,487 | 96,477 | PDF p. 82 |
| Non-controlling interest$'000 | (2) | (2) | – | – | PDF p. 82 |
| Total equity$'000 | 162,342 | 141,171 | 96,487 | 96,477 | PDF p. 82 |
Original report: PDF p. 82 ↗
As at 30 June 2026. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Income statement | |||
| Profit after tax$'000 | 22,650 | 12,544 | PDF p. 81 |
| Other comprehensive income - Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation$'000 | 20 | (172) | PDF p. 81 |
| Other comprehensive income | |||
| Total comprehensive income$'000 | 22,670 | 12,372 | PDF p. 81 |
| Profit after tax attributable to | |||
| Owners of the Company$'000 | 22,650 | 12,544 | PDF p. 81 |
| Non-controlling interest$'000 | – | – | PDF p. 81 |
| Total comprehensive income attributable to | |||
| Owners of the Company$'000 | 22,670 | 12,372 | PDF p. 81 |
| Non-controlling interest$'000 | – | – | PDF p. 81 |
Original report: PDF p. 81 ↗
Financial year ended 30 June 2026. Company-level comprehensive income is not presented separately; see Company statement of changes in equity.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group - Share capital ($'000) | 2026Group - Merger reserve ($'000) | 2026Group - Treasury shares ($'000) | 2026Group - Foreign currency translation reserve ($'000) | 2026Group - Retained earnings ($'000) | 2026Group - Non-controlling interest ($'000) | 2026Group - Total equity ($'000) | Source |
|---|---|---|---|---|---|---|---|---|
| Year ended 30 June 2026 | ||||||||
| Opening balance as at 1 July 2025$'000 | 96,719 | (64,502) | (698) | 534 | 109,120 | (2) | 141,171 | PDF p. 83 |
| Profit for the year$'000 | – | – | – | – | 22,650 | – | 22,650 | PDF p. 83 |
| Year ended 30 June 2026 - Other comprehensive income | ||||||||
| Foreign currency translation$'000 | – | – | – | 20 | – | – | 20 | PDF p. 83 |
| Year ended 30 June 2026 | ||||||||
| Total comprehensive income$'000 | – | – | – | 20 | 22,650 | – | 22,670 | PDF p. 83 |
| Dividend paid (Note 32)$'000 | – | – | – | – | (1,499) | – | (1,499) | PDF p. 83 |
| Closing balance as at 30 June 2026$'000 | 96,719 | (64,502) | (698) | 554 | 130,271 | (2) | 162,342 | PDF p. 83 |
| Year ended 30 June 2025 | ||||||||
| Opening balance as at 1 July 2024$'000 | 96,719 | (64,502) | (698) | 706 | 97,577 | (2) | 129,800 | PDF p. 83 |
| Profit for the year$'000 | – | – | – | – | 12,544 | – | 12,544 | PDF p. 83 |
| Year ended 30 June 2025 - Other comprehensive income | ||||||||
| Foreign currency translation$'000 | – | – | – | (172) | – | – | (172) | PDF p. 83 |
| Year ended 30 June 2025 | ||||||||
| Total comprehensive income$'000 | – | – | – | (172) | 12,544 | – | 12,372 | PDF p. 83 |
| Dividend paid (Note 32)$'000 | – | – | – | – | (1,001) | – | (1,001) | PDF p. 83 |
| Closing balance as at 30 June 2025$'000 | 96,719 | (64,502) | (698) | 534 | 109,120 | (2) | 141,171 | PDF p. 83 |
Original report: PDF p. 83 ↗
(1) Foreign currency translation reserve: The foreign currency translation reserve is used to record exchange differences arising from the translation of the financial statements of the Group’s foreign operations whose functional currencies are different from that of the Group’s presentation currency as well as the share of foreign currency translation reserve of associate.
Non-controlling interest column is the NCI schedule within the Group statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Company - Share capital ($'000) | 2026Company - Treasury shares ($'000) | 2026Company - Retained earnings ($'000) | 2026Company - Total equity ($'000) | Source |
|---|---|---|---|---|---|
| Year ended 30 June 2026 | |||||
| Opening balance as at 1 July 2025$'000 | 96,719 | (698) | 456 | 96,477 | PDF p. 83 |
| Profit for the year$'000 | – | – | 1,509 | 1,509 | PDF p. 83 |
| Total comprehensive income$'000 | – | – | 1,509 | 1,509 | PDF p. 83 |
| Dividend paid (Note 32)$'000 | – | – | (1,499) | (1,499) | PDF p. 83 |
| Closing balance as at 30 June 2026$'000 | 96,719 | (698) | 466 | 96,487 | PDF p. 83 |
| Year ended 30 June 2025 | |||||
| Opening balance as at 1 July 2024$'000 | 96,719 | (698) | 1,907 | 97,928 | PDF p. 83 |
| Loss for the year$'000 | – | – | (450) | (450) | PDF p. 83 |
| Total comprehensive income$'000 | – | – | (450) | (450) | PDF p. 83 |
| Dividend paid (Note 32)$'000 | – | – | (1,001) | (1,001) | PDF p. 83 |
| Closing balance as at 30 June 2025$'000 | 96,719 | (698) | 456 | 96,477 | PDF p. 83 |
Original report: PDF p. 83 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before tax$'000 | 27,518 | 15,073 | PDF p. 84 |
| Adjustments for | |||
| Depreciation of property, plant and equipment$'000 | 1,317 | 1,062 | PDF p. 84 |
| Depreciation of right of use assets$'000 | 5,276 | 4,594 | PDF p. 84 |
| Finance costs$'000 | 3,031 | 2,985 | PDF p. 84 |
| Share of loss of associate$'000 | 709 | 636 | PDF p. 84 |
| Impairment loss on trade receivables, net$'000 | 1,847 | 1,329 | PDF p. 84 |
| Fair value gain on bullion loans designated as financial liabilities at fair value through profit or loss, net$'000 | (328) | (36) | PDF p. 84 |
| Bad debt written off$'000 | 55 | 55 | PDF p. 84 |
| Gain on disposal of property, plant and equipment and right of use assets$'000 | (37) | – | PDF p. 84 |
| Inventories written off$'000 | 1,065 | – | PDF p. 84 |
| Provision for inventory obsolescence$'000 | 58 | – | PDF p. 84 |
| Unrealised exchange loss/(gain)$'000 | 9 | (59) | PDF p. 84 |
| Cash flows from operating activities | |||
| Operating cash flows before changes in working capital$'000 | 40,520 | 25,639 | PDF p. 84 |
| Increase in trade and other receivables and prepayments$'000 | (50,453) | (17,047) | PDF p. 84 |
| Increase in inventories$'000 | (8,861) | (21,267) | PDF p. 84 |
| Increase in trade and other payables$'000 | 5,954 | 2,624 | PDF p. 84 |
| Cash flows used in operations$'000 | (12,840) | (10,051) | PDF p. 84 |
| Income tax paid, net$'000 | (2,677) | (1,322) | PDF p. 84 |
| Net cash flows used in operating activities$'000 | (15,517) | (11,373) | PDF p. 84 |
| Cash flows from investing activities | |||
| Purchase of property, plant and equipment (Note (i))$'000 | (1,874) | (6,164) | PDF p. 84 |
| Proceeds from disposal of property, plant and equipment and right of use assets$'000 | 326 | – | PDF p. 84 |
| Addition to right of use assets$'000 | (838) | – | PDF p. 84 |
| Dividend received from associate$'000 | – | 4,000 | PDF p. 84 |
| Net cash flows used in investing activities$'000 | (2,386) | (2,164) | PDF p. 84 |
| Cash flows from financing activities | |||
| Proceeds from bank borrowings$'000 | 41,920 | 32,539 | PDF p. 84 |
| Repayment of bank borrowings$'000 | (10,781) | (9,810) | PDF p. 84 |
| Proceeds from bullion loans$'000 | 81,698 | 51,141 | PDF p. 84 |
| Repayment of bullion loans$'000 | (83,336) | (50,414) | PDF p. 84 |
| Increase in bills payables$'000 | 11,140 | 1,160 | PDF p. 84 |
| Payment of principal portion of lease liabilities$'000 | (5,267) | (4,565) | PDF p. 84 |
| New pledged fixed deposits with banks$'000 | (596) | (679) | PDF p. 84 |
| Dividend paid$'000 | (1,499) | (1,001) | PDF p. 84 |
| Interest paid$'000 | (3,031) | (2,985) | PDF p. 84 |
| Net cash flows generated from financing activities$'000 | 30,248 | 15,386 | PDF p. 84 |
| Cash and cash equivalents | |||
| Net increase in cash and cash equivalents$'000 | 12,345 | 1,849 | PDF p. 85 |
| Net effect of exchange rates changes on the cash balance held in foreign currencies$'000 | (112) | (202) | PDF p. 85 |
| Cash and cash equivalents at beginning of the financial year$'000 | 11,535 | 9,888 | PDF p. 85 |
| Cash and cash equivalents at end of the financial year (Note 17)$'000 | 23,768 | 11,535 | PDF p. 85 |
Original report: PDF p. 84 ↗ PDF p. 85 ↗
Statement spans pages 84-85; rows from 'Net increase in cash and cash equivalents' onward are on page 85.
(i) Purchase of property, plant and equipment: During the year, the Group acquired property, plant and equipment of $1,943,000 (2025: $6,231,000) (Note 13). The additions include paid amounts of $1,874,000 (2025: $6,164,000) and additions to reinstatement costs amounted to $69,000 (2025: $67,000).
No Company cash flow statement is presented; only a consolidated one.
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| Metric / unit | 2022Group | 2023Group | 2024Group | 2025Group | 2026Group | Source |
|---|---|---|---|---|---|---|
| Financial Highlights | ||||||
| Gross Profit (S$’million)S$ million | 27.4 | 42.3 | 42.7 | 52.8 | 76.2 | PDF p. 9 |
Original report: PDF p. 9 ↗
Values read from bar-chart labels; chart text is unordered so year assignment follows the 2022-2026 axis. Revenue contribution by segment pie charts (2025: 56.2/41.2/2.6; 2026: 58.2/39.0/2.8) not tabulated.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, S$’000 | 2025Group, S$’000 | Source |
|---|---|---|---|
| Income Statement | |||
| RevenueS$’000 | 283,998 | 178,443 | PDF p. 10 |
| Gross profitS$’000 | 76,164 | 52,752 | PDF p. 10 |
| Profit before taxS$’000 | 27,518 | 15,073 | PDF p. 10 |
| Income tax expenseS$’000 | (4,868) | (2,529) | PDF p. 10 |
| Profit after taxS$’000 | 22,650 | 12,544 | PDF p. 10 |
Original report: PDF p. 10 ↗
Other lines (cost of sales, other operating income, distribution costs, admin expenses, etc.) also printed; abbreviated here.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, S$’000 | 2025Group, S$’000 | Source |
|---|---|---|---|
| Cash Flow | |||
| Net cash used in operating activitiesS$’000 | (15,517) | (11,373) | PDF p. 11 |
| Net cash used in investing activitiesS$’000 | (2,386) | (2,164) | PDF p. 11 |
| Net cash generated from financing activitiesS$’000 | 30,248 | 15,386 | PDF p. 11 |
| Cash and cash equivalents at end of financial yearS$’000 | 23,768 | 11,535 | PDF p. 11 |
Original report: PDF p. 11 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Basic and Diluted (cents)cents | 4.05 | 2.24 | PDF p. 81 |
| Note 10 Earnings per share | |||
| Weighted average number of ordinary shares for basic and diluted earnings per shareNo. of shares | 559,406,000 | 559,406,000 | PDF p. 103 |
Original report: PDF p. 81 ↗ PDF p. 103 ↗
Diluted EPS is similar to basic as there were no potential dilutive ordinary shares.
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| Metric / unit | 2026Group and Company, $’000 | 2025Group and Company, $’000 | Source |
|---|---|---|---|
| Dividends | |||
| Proposed final tax exempt (one-tier) dividend for FY2026: 0.536 cents (2025: 0.268 cents) per share$’000 | 2,998 | 1,499 | PDF p. 127 |
Original report: PDF p. 127 ↗
Proposed but not recognised as a liability as at 30 June; subject to shareholders’ approval at the AGM. Dividend per share: 0.536 Singapore cents (FY2025: 0.268 Singapore cents).
Where the money comes from
| Item / unit | 2026Wholesale and Exhibitions, $'000 | 2026Retail, $'000 | 2026Financial Services, $'000 | 2026Unallocated, $'000 | 2026Elimination, $'000 | 2026Total (Group), $'000 | Source |
|---|---|---|---|---|---|---|---|
| Segment revenue | |||||||
| External sales$'000 | 110,746 | 165,412 | 7,840 | – | – | 283,998 | PDF p. 125 |
| Intersegment sales$'000 | – | 2,345 | 737 | – | (3,082) | – | PDF p. 125 |
| Total revenue$'000 | 110,746 | 167,757 | 8,577 | – | (3,082) | 283,998 | PDF p. 125 |
| Results | |||||||
| Segment results$'000 | 21,507 | 11,610 | 5,795 | – | – | 38,912 | PDF p. 125 |
| Unallocated expenses (net)$'000 | – | – | – | (7,654) | – | (7,654) | PDF p. 125 |
| Finance costs$'000 | (542) | (826) | (1,503) | (160) | – | (3,031) | PDF p. 125 |
| Share of loss from associate$'000 | – | – | – | (709) | – | (709) | PDF p. 125 |
| Profit/(loss) before tax$'000 | 20,965 | 10,784 | 4,292 | (8,523) | – | 27,518 | PDF p. 125 |
| Tax expense$'000 | – | – | – | (4,868) | – | (4,868) | PDF p. 125 |
| Profit/(loss) after tax$'000 | 20,965 | 10,784 | 4,292 | (13,391) | – | 22,650 | PDF p. 125 |
| Segment assets and liabilities | |||||||
| Segment assets$'000 | 92,918 | 118,151 | 106,106 | 6,388 | – | 323,563 | PDF p. 125 |
| Segment liabilities$'000 | 38,504 | 58,757 | 59,036 | 4,924 | – | 161,221 | PDF p. 125 |
| Other segmental information | |||||||
| Employee compensation$'000 | 2,477 | 10,595 | 1,267 | 6,136 | – | 20,475 | PDF p. 125 |
| Impairment loss on trade receivables, net$'000 | 1,823 | – | 24 | – | – | 1,847 | PDF p. 125 |
| Depreciation of property, plant and equipment$'000 | 93 | 866 | 138 | 220 | – | 1,317 | PDF p. 125 |
| Depreciation of right-of-use assets$'000 | 41 | 4,835 | 273 | 127 | – | 5,276 | PDF p. 125 |
| Capital expenditure$'000 | 12 | 1,908 | 5 | 1,356 | – | 3,281 | PDF p. 125 |
| Investment in associate$'000 | – | – | – | 3,100 | – | 3,100 | PDF p. 125 |
| Non-current assets$'000 | 7,585 | 14,508 | 5,079 | 3,419 | – | 30,591 | PDF p. 125 |
Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis. Unallocated items mainly comprise dividends payable, income tax payable and deferred tax.
A: Unallocated corporate expenses items amounting to $7,654,000 (2025: $6,375,000) mainly relate to headquarter expenses which comprise of distribution costs, administrative expenses and other operating expenses.
B: Unallocated segment assets pertain to unallocated corporate assets items in the Company and deferred tax assets
C: The following unallocated liabilities items are added to segment liabilities to arrive at total liabilities (see separate table).
| Item / unit | 2025Wholesale and Exhibitions, $'000 | 2025Retail, $'000 | 2025Financial Services, $'000 | 2025Unallocated, $'000 | 2025Elimination, $'000 | 2025Total (Group), $'000 | Source |
|---|---|---|---|---|---|---|---|
| Segment revenue | |||||||
| External sales$'000 | 73,590 | 100,310 | 4,543 | – | – | 178,443 | PDF p. 126 |
| Intersegment sales$'000 | – | 1,959 | 744 | – | (2,703) | – | PDF p. 126 |
| Total revenue$'000 | 73,590 | 102,269 | 5,287 | – | (2,703) | 178,443 | PDF p. 126 |
| Results | |||||||
| Segment results$'000 | 16,510 | 6,078 | 2,481 | – | – | 25,069 | PDF p. 126 |
| Unallocated expenses (net)$'000 | – | – | – | (6,375) | – | (6,375) | PDF p. 126 |
| Finance costs$'000 | (598) | (847) | (1,366) | (174) | – | (2,985) | PDF p. 126 |
| Share of loss from associate$'000 | – | – | – | (636) | – | (636) | PDF p. 126 |
| Profit/(loss) before tax$'000 | 15,912 | 5,231 | 1,115 | (7,185) | – | 15,073 | PDF p. 126 |
| Tax expense$'000 | – | – | – | (2,529) | – | (2,529) | PDF p. 126 |
| Profit/(loss) after tax$'000 | 15,912 | 5,231 | 1,115 | (9,714) | – | 12,544 | PDF p. 126 |
| Segment assets and liabilities | |||||||
| Segment assets$'000 | 78,822 | 103,845 | 66,589 | 2,845 | – | 252,101 | PDF p. 126 |
| Segment liabilities$'000 | 26,340 | 49,542 | 32,369 | 2,679 | – | 110,930 | PDF p. 126 |
| Other segmental information | |||||||
| Employee compensation$'000 | 1,715 | 8,820 | 984 | 5,207 | – | 16,726 | PDF p. 126 |
| Impairment loss on trade receivables, net$'000 | 1,191 | – | 138 | – | – | 1,329 | PDF p. 126 |
| Depreciation of property, plant and equipment$'000 | 247 | 774 | 41 | – | – | 1,062 | PDF p. 126 |
| Depreciation of right-of-use assets$'000 | – | 4,450 | – | 144 | – | 4,594 | PDF p. 126 |
| Capital expenditure$'000 | 32 | 6,078 | 121 | – | – | 6,231 | PDF p. 126 |
| Investment in associate$'000 | – | – | – | 3,809 | – | 3,809 | PDF p. 126 |
| Non-current assets$'000 | 7,319 | 11,808 | 5,507 | 4,145 | – | 28,779 | PDF p. 126 |
A: Unallocated corporate expenses items amounting to $7,654,000 (2025: $6,375,000) mainly relate to headquarter expenses which comprise of distribution costs, administrative expenses and other operating expenses.
B: Unallocated segment assets pertain to unallocated corporate assets items in the Company and deferred tax assets
C: Unallocated liabilities items are added to segment liabilities to arrive at total liabilities (see separate table).
| Item / unit | 2026$'000 | 2025$'000 | Source |
|---|---|---|---|
| Unallocated liabilities | |||
| Income tax payable$'000 | 4,852 | 2,679 | PDF p. 127 |
| Other payables and accruals$'000 | 72 | – | PDF p. 127 |
The two items total 4,924 (2026) and 2,679 (2025) as printed.
Geographical segment: further segmentation by geographical market is not meaningful; non-current assets are substantially located in Singapore. No geographic revenue table is printed.
Debt
| Item / unit | 202630.6.2026, One year or less | 202630.6.2026, One to five years | 202630.6.2026, Over five years | 202630.6.2026, Total | Source |
|---|---|---|---|---|---|
| 30.6.2026 | |||||
| Loans and borrowings$'000 | 97,663 | 8,515 | 7,507 | 113,685 | PDF p. 119 |
| Bullion loans$'000 | 2,869 | – | – | 2,869 | PDF p. 119 |
| Lease liabilities$'000 | 4,902 | 5,350 | – | 10,252 | PDF p. 119 |
Based on contractual undiscounted repayment obligations. Approximately 88% (2025: 75%) of the Group's loans and borrowings will mature in less than one year based on carrying amount. All Company financial liabilities mature in less than one year.
| Item / unit | 202530.6.2025, One year or less | 202530.6.2025, One to five years | 202530.6.2025, Over five years | 202530.6.2025, Total | Source |
|---|---|---|---|---|---|
| 30.6.2025 | |||||
| Loans and borrowings$'000 | 50,643 | 13,578 | 7,674 | 71,895 | PDF p. 119 |
| Bullion loans$'000 | 4,794 | – | – | 4,794 | PDF p. 119 |
| Lease liabilities$'000 | 4,948 | 4,492 | – | 9,440 | PDF p. 119 |
Same table as 30.6.2026 on this page, comparative block.
| Item / unit | 2026$'000 | 2025$'000 | Source |
|---|---|---|---|
| Current | |||
| Bank overdrafts$'000 | 411 | – | PDF p. 108 |
| Bills payable$'000 | 13,490 | 2,350 | PDF p. 108 |
| Revolving loans$'000 | 76,670 | 38,250 | PDF p. 108 |
| Floating rate term loans$'000 | 6,627 | 8,291 | PDF p. 108 |
| Fixed rate term loan$'000 | – | 604 | PDF p. 108 |
| Total current loans and borrowings (unlabelled subtotal)$'000 | 97,198 | 49,495 | PDF p. 108 |
| Non-current | |||
| Floating rate term loans$'000 | 13,291 | 18,304 | PDF p. 108 |
Interest rates 2026 (2025): overdrafts 2.47%-2.85% (Nil); bills payable 2.21%-4.74% (3.03%-3.64%), repayable within 60 to 180 days, denominated in SGD and USD; revolving loans 2.22%-4.14% (3.40%-5.42%), due within one to three months; floating rate term loans 2.72%-4.19% (3.38%-6.06%), mature between 3 and 18 years (2025: 1 to 19 years); fixed rate term loans 2.24%-3.75% (2.24%-3.75%), fully repaid January 2026.
Secured: floating rate term loans $7,460,000 (2025: $7,739,000) secured by first mortgage over freehold and leasehold properties; certain bank borrowings secured by pledge of fixed deposits; revolving loans $30,000,000 (2025: $23,000,000) secured by charge over a subsidiary's current account and fixed and floating charge on its assets; revolving loans $21,000,000 (2025: Nil) secured by fixed and floating charge on another subsidiary's assets. All bank borrowings secured by corporate guarantee from the Company; $30,000,000 (2025: $23,089,000) also by subsidiary guarantee.
Subtotal rows are unlabelled in the report. Totals current 2026 97,198 / 2025 49,495; non-current 13,291 / 18,304.
| Item / unit | 2026Group, closing balance 30.6.2026, $'000 | Source |
|---|---|---|
| Lease liabilities | ||
| Lease liabilities (Note 23) - Current$'000 | 4,559 | PDF p. 109 |
| Lease liabilities (Note 23) - Non-current$'000 | 5,308 | PDF p. 109 |
| Bullion loans | ||
| Bullion loans (Note 19)$'000 | 2,809 | PDF p. 109 |
| Total | ||
| Total$'000 | 122,754 | PDF p. 109 |
Only closing 30.6.2026 values extracted; the full table also shows opening 1.7.2025, cash flows, additions, accretion, fair value loss and other columns. Total includes bills payable, revolving loans, term loans, lease liabilities and bullion loans.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | Currently, the Company does not have a fixed dividend policy. The form, frequency and amount of dividends will depend on amongst others, the Company’s earnings, general financial condition, results of operations, capital requirements, cash flow, general business condition, development plans and other factors as the Directors may deem appropriate. | Company | PDF p. 65 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Proposed final tax exempt (one-tier) dividend for FY2026 | 0.536 cents per share | Group and Company, FY2026 final dividend (proposed) | PDF p. 127 |
| Proposed final tax exempt (one-tier) dividend for FY2026 | 0.268 cents per share | Group and Company, FY2025 final dividend (comparative) | PDF p. 127 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Proposed final tax exempt (one-tier) dividend for FY2026 | 2,998 $'000 | Group and Company, FY2026 proposed; comparative 2025: 1,499 | PDF p. 127 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | Ernst & Young LLP | Group and Company, FY ended 30 June 2026 | PDF p. 80 |
| Engagement partner | Wong Kee Kiet | Group and Company, FY ended 30 June 2026 | PDF p. 80 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view | Group and Company, as at 30 June 2026 | PDF p. 77 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Allowance for impairment of trade receivables from the Group’s wholesale and exhibition jewellery business | The Group’s trade receivables from wholesale and exhibition jewellery business are significant to the Group and they represent 7% of the Group’s total assets as at year end. | Group, FY2026 | PDF p. 77 |
| Valuation and existence of inventories | The Group’s inventories comprise raw materials and finished goods of jewellery products. | Group, FY2026 | PDF p. 78 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
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 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.