IPS Securex 42N
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+0.00% +0.00 Updated 20 Oct 2026, 17:16 SGT
Financials
Annual Report 2026
Explore the statements
10 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income (Group), year ended 30 June 2026
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Profit or loss | |||
| Revenue$ | 20,736,111 | 11,282,775 | PDF p. 86 |
| Cost of sales$ | (13,441,795) | (7,137,852) | PDF p. 86 |
| Gross profit$ | 7,294,316 | 4,144,923 | PDF p. 86 |
| Other income and gains$ | 34,796 | 77,029 | PDF p. 86 |
| Administrative expenses$ | (6,778,793) | (5,618,187) | PDF p. 86 |
| Allowance for expected credit loss – (loss)/reversal$ | (200) | 7,439 | PDF p. 86 |
| Finance income$ | 1,648 | 13,699 | PDF p. 86 |
| Finance costs$ | (75,322) | (28,322) | PDF p. 86 |
| Other losses$ | – | (5,911) | PDF p. 86 |
| Other operating expenses$ | (159,041) | (80,884) | PDF p. 86 |
| Profit/(loss) before tax$ | 317,404 | (1,490,214) | PDF p. 86 |
| Income tax benefit$ | – | 15,100 | PDF p. 86 |
| Profit/(loss) for the year$ | 317,404 | (1,475,114) | PDF p. 86 |
| Other comprehensive income – items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences$ | 4,701 | 98 | PDF p. 86 |
| Other comprehensive income | |||
| Total comprehensive income/(loss)$ | 322,105 | (1,475,016) | PDF p. 86 |
| Earnings/(loss) per share | |||
| Basic and dilutedCents per share | 0.07 | (0.30) | PDF p. 86 |
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Definitions & sources
Original report: PDF p. 86 ↗
Only the consolidated (Group) income statement is presented; no separate Company income statement printed. Amounts in $ (Singapore dollars implied; currency symbol printed as $). EPS in Cents.
Statements of Financial Position – Group, as at 30 June 2026
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Non-current assets | |||
| Plant and equipment$ | 598,759 | 326,500 | PDF p. 87 |
| Investments in subsidiaries$ | – | – | PDF p. 87 |
| Trade and other receivables$ | 1,289,298 | 41,681 | PDF p. 87 |
| Loans to a subsidiary$ | – | – | PDF p. 87 |
| Total non-current assets$ | 1,888,057 | 368,181 | PDF p. 87 |
| Current assets | |||
| Restricted fixed deposits$ | 599,711 | – | PDF p. 87 |
| Inventories$ | 4,526,118 | 2,299,854 | PDF p. 87 |
| Contract assets$ | 1,730,611 | 212,534 | PDF p. 87 |
| Trade and other receivables$ | 2,909,937 | 3,609,804 | PDF p. 87 |
| Loans to a subsidiary$ | – | – | PDF p. 87 |
| Prepayments$ | 1,094,645 | 616,895 | PDF p. 87 |
| Cash and cash equivalents$ | 2,133,338 | 2,167,392 | PDF p. 87 |
| Total current assets$ | 12,994,360 | 8,906,479 | PDF p. 87 |
| Assets | |||
| Total assets$ | 14,882,417 | 9,274,660 | PDF p. 87 |
| Equity | |||
| Share capital$ | 9,405,906 | 9,405,906 | PDF p. 87 |
| Accumulated losses$ | (2,849,422) | (3,166,826) | PDF p. 87 |
| Other reserves$ | (674,553) | (679,254) | PDF p. 87 |
| Total equity$ | 5,881,931 | 5,559,826 | PDF p. 87 |
| Non-current liabilities | |||
| Deferred tax liabilities$ | 1,490 | 1,490 | PDF p. 87 |
| Loans and borrowings$ | 35,707 | – | PDF p. 87 |
| Total non-current liabilities$ | 37,197 | 1,490 | PDF p. 87 |
| Current liabilities | |||
| Trade and other payables$ | 8,526,097 | 3,391,598 | PDF p. 87 |
| Loans and borrowings$ | 312,471 | 139,593 | PDF p. 87 |
| Contract liabilities$ | 124,721 | 182,153 | PDF p. 87 |
| Total current liabilities$ | 8,963,289 | 3,713,344 | PDF p. 87 |
| Liabilities | |||
| Total liabilities$ | 9,000,486 | 3,714,834 | PDF p. 87 |
| Equity and liabilities | |||
| Total equity and liabilities$ | 14,882,417 | 9,274,660 | PDF p. 87 |
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Definitions & sources
Original report: PDF p. 87 ↗
Group columns of the combined Group/Company statement of financial position. Quotes are whole printed rows including Company columns.
Statements of Financial Position – Company, as at 30 June 2026
17 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company | 2025Company | Source |
|---|---|---|---|
| Non-current assets | |||
| Investments in subsidiaries$ | 3,000,199 | 3,000,199 | PDF p. 87 |
| Loans to a subsidiary$ | 616,487 | – | PDF p. 87 |
| Total non-current assets$ | 3,616,686 | 3,000,199 | PDF p. 87 |
| Current assets | |||
| Trade and other receivables$ | 2,658,929 | 2,517,595 | PDF p. 87 |
| Loans to a subsidiary$ | – | 614,822 | PDF p. 87 |
| Prepayments$ | 1,905 | 2,842 | PDF p. 87 |
| Cash and cash equivalents$ | 132,745 | 112,972 | PDF p. 87 |
| Total current assets$ | 2,793,579 | 3,248,231 | PDF p. 87 |
| Assets | |||
| Total assets$ | 6,410,265 | 6,248,430 | PDF p. 87 |
| Equity | |||
| Share capital$ | 9,405,906 | 9,405,906 | PDF p. 87 |
| Accumulated losses$ | (3,651,118) | (3,606,605) | PDF p. 87 |
| Other reserves$ | 120,647 | 120,647 | PDF p. 87 |
| Total equity$ | 5,875,435 | 5,919,948 | PDF p. 87 |
| Current liabilities | |||
| Trade and other payables$ | 534,830 | 328,482 | PDF p. 87 |
| Total current liabilities$ | 534,830 | 328,482 | PDF p. 87 |
| Liabilities | |||
| Total liabilities$ | 534,830 | 328,482 | PDF p. 87 |
| Equity and liabilities | |||
| Total equity and liabilities$ | 6,410,265 | 6,248,430 | PDF p. 87 |
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Definitions & sources
Original report: PDF p. 87 ↗
Company columns of the combined statement. Company has no non-current liabilities or other cells printed as '–'; rows where Company is '–' for both years (e.g. Plant and equipment, inventories) are omitted here and visible in the Group table quotes.
Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 30 June 2026 | 2025Group, year ended 30 June 2025 | Source |
|---|---|---|---|
| Profit or loss | |||
| Revenue$ | 20,736,111 | 11,282,775 | PDF p. 86 |
| Cost of sales$ | (13,441,795) | (7,137,852) | PDF p. 86 |
| Gross profit$ | 7,294,316 | 4,144,923 | PDF p. 86 |
| Other income and gains$ | 34,796 | 77,029 | PDF p. 86 |
| Administrative expenses$ | (6,778,793) | (5,618,187) | PDF p. 86 |
| Allowance for expected credit loss – (loss)/reversal$ | (200) | 7,439 | PDF p. 86 |
| Finance income$ | 1,648 | 13,699 | PDF p. 86 |
| Finance costs$ | (75,322) | (28,322) | PDF p. 86 |
| Other losses$ | – | (5,911) | PDF p. 86 |
| Other operating expenses$ | (159,041) | (80,884) | PDF p. 86 |
| Profit/(loss) before tax$ | 317,404 | (1,490,214) | PDF p. 86 |
| Income tax benefit$ | – | 15,100 | PDF p. 86 |
| Profit/(loss) for the year$ | 317,404 | (1,475,114) | PDF p. 86 |
| Other comprehensive income – items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences$ | 4,701 | 98 | PDF p. 86 |
| Other comprehensive income | |||
| Total comprehensive income/(loss)$ | 322,105 | (1,475,016) | PDF p. 86 |
| Earnings/(loss) per share | |||
| Basic and dilutedCents | 0.07 | (0.30) | PDF p. 86 |
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Definitions & sources
Original report: PDF p. 86 ↗
The accompanying notes form an integral part of these financial statements.
No non-controlling interest or attribution split is printed.
Statements of Changes in Equity – Group
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, Share capital ($) | 2026Group, Accumulated losses ($) | 2026Group, Other reserves ($) | 2026Group, Total equity ($) | Source |
|---|---|---|---|---|---|
| Current year | |||||
| At 1 July 2025$ | 9,405,906 | (3,166,826) | (679,254) | 5,559,826 | PDF p. 88 |
| Current year – Changes in equity | |||||
| Total comprehensive income for the year$ | – | 317,404 | 4,701 | 322,105 | PDF p. 88 |
| Current year | |||||
| At 30 June 2026$ | 9,405,906 | (2,849,422) | (674,553) | 5,881,931 | PDF p. 88 |
| Previous year (2025 comparative) | |||||
| At 1 July 2024$ | 9,405,906 | (1,691,712) | (679,352) | 7,034,842 | PDF p. 88 |
| Previous year (2025 comparative) – Changes in equity | |||||
| Total comprehensive income/(loss) for the year$ | – | (1,475,114) | 98 | (1,475,016) | PDF p. 88 |
| Previous year (2025 comparative) | |||||
| At 30 June 2025$ | 9,405,906 | (3,166,826) | (679,254) | 5,559,826 | PDF p. 88 |
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Definitions & sources
Original report: PDF p. 88 ↗
Current year = year ended 30 June 2026; Previous year = year ended 30 June 2025. The accompanying notes form an integral part of these financial statements. No non-controlling interest column printed.
Statements of Changes in Equity – Company
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company, Share capital ($) | 2026Company, Accumulated losses ($) | 2026Company, Other reserves ($) | 2026Company, Total equity ($) | Source |
|---|---|---|---|---|---|
| Current year | |||||
| At 1 July 2025$ | 9,405,906 | (3,606,605) | 120,647 | 5,919,948 | PDF p. 88 |
| Current year – Changes in equity | |||||
| Total comprehensive loss for the year$ | – | (44,513) | – | (44,513) | PDF p. 88 |
| Current year | |||||
| At 30 June 2026$ | 9,405,906 | (3,651,118) | 120,647 | 5,875,435 | PDF p. 88 |
| Previous year (2025 comparative) | |||||
| At 1 July 2024$ | 9,405,906 | (3,503,929) | 120,647 | 6,022,624 | PDF p. 88 |
| Previous year (2025 comparative) – Changes in equity | |||||
| Total comprehensive loss for the year$ | – | (102,676) | – | (102,676) | PDF p. 88 |
| Previous year (2025 comparative) | |||||
| At 30 June 2025$ | 9,405,906 | (3,606,605) | 120,647 | 5,919,948 | PDF p. 88 |
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Definitions & sources
Original report: PDF p. 88 ↗
Current year = year ended 30 June 2026; Previous year = year ended 30 June 2025. The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Cash Flows (Group)
39 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 30 June 2026 | 2025Group, year ended 30 June 2025 | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit/(loss) before tax$ | 317,404 | (1,490,214) | PDF p. 89 |
| Operating – Adjustments for | |||
| Interest income$ | (1,648) | (1,147) | PDF p. 89 |
| Interest expense$ | 51,787 | 28,322 | PDF p. 89 |
| Depreciation of plant and equipment$ | 199,384 | 147,943 | PDF p. 89 |
| Gain on termination of lease$ | (486) | – | PDF p. 89 |
| Loss on disposal of other investments$ | – | 5,911 | PDF p. 89 |
| Inventories written-off$ | 119,042 | 61,161 | PDF p. 89 |
| Allowance for inventories obsolescence – loss/(reversal)$ | 8,558 | (13,446) | PDF p. 89 |
| Bad debts written-off$ | – | 9,370 | PDF p. 89 |
| Allowance for expected credit loss – loss/(reversal)$ | 200 | (7,439) | PDF p. 89 |
| Net foreign exchange (gain)/loss – unrealised$ | (3,486) | 26,382 | PDF p. 89 |
| Cash flows from operating activities | |||
| Operating cash flows before changes in working capital$ | 690,755 | (1,233,157) | PDF p. 89 |
| Operating – working capital changes | |||
| Inventories$ | (2,355,364) | (664,212) | PDF p. 89 |
| Contract assets$ | (1,518,077) | 57,868 | PDF p. 89 |
| Contract costs$ | – | 450 | PDF p. 89 |
| Trade and other receivables$ | (547,794) | 2,196,439 | PDF p. 89 |
| Prepayments$ | (477,750) | (364,357) | PDF p. 89 |
| Trade and other payables$ | 4,207,619 | (219,155) | PDF p. 89 |
| Contract liabilities$ | (57,432) | (154,855) | PDF p. 89 |
| Cash flows from operating activities | |||
| Net cash flows used in operations$ | (58,043) | (380,979) | PDF p. 89 |
| Income tax refunded$ | – | 15,100 | PDF p. 89 |
| Interest income received$ | 1,492 | 1,937 | PDF p. 89 |
| Net cash flows used in operating activities$ | (56,551) | (363,942) | PDF p. 89 |
| Cash flows from investing activities | |||
| Purchase of plant and equipment$ | (423,121) | (144,428) | PDF p. 89 |
| Proceeds from disposal of other investments$ | – | 1,694 | PDF p. 89 |
| Net cash flows used in investing activities$ | (423,121) | (142,734) | PDF p. 89 |
| Cash flows from financing activities | |||
| Payment of lease liabilities$ | (9,881) | (11,006) | PDF p. 89 |
| Repayment of bank borrowings$ | (130,989) | (1,272,394) | PDF p. 89 |
| Interest expense paid$ | (48,247) | (28,346) | PDF p. 89 |
| Proceeds from trade financing facilities$ | 5,765,467 | 1,084,524 | PDF p. 89 |
| Repayment of trade financing facilities$ | (4,839,208) | (666,898) | PDF p. 89 |
| Loans from a related party$ | 300,000 | – | PDF p. 89 |
| Fixed deposits withdrawn from financial institution$ | – | 18,331 | PDF p. 89 |
| (Increase)/decrease in restricted cash and fixed deposits pledged$ | (599,711) | 522,128 | PDF p. 89 |
| Net cash flows generated from/(used in) financing activities$ | 437,431 | (353,661) | PDF p. 89 |
| Net change in cash | |||
| Net decrease in cash and cash equivalents$ | (42,241) | (860,337) | PDF p. 89 |
| Cash and cash equivalents at beginning of year$ | 2,167,392 | 3,054,013 | PDF p. 89 |
| Effect of changes in exchange rates on cash and cash equivalents$ | 8,187 | (26,284) | PDF p. 89 |
| Cash and cash equivalents at end of year (note 20)$ | 2,133,338 | 2,167,392 | PDF p. 89 |
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Definitions & sources
Original report: PDF p. 89 ↗
The accompanying notes form an integral part of these financial statements.
Financial Highlights (FY2023-FY2026), one row per metric-year
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, value for the FY labelled in row (FY2026 to FY2023 per row label), S$'000 | Source |
|---|---|---|
| Revenue (S$'000) | ||
| FY2026S$'000 | 20,736 | PDF p. 13 |
| FY2025S$'000 | 11,283 | PDF p. 13 |
| FY2024S$'000 | 13,688 | PDF p. 13 |
| FY2023S$'000 | 11,543 | PDF p. 13 |
| Gross Profit (S$'000) | ||
| FY2026S$'000 | 7,294 | PDF p. 13 |
| FY2025S$'000 | 4,145 | PDF p. 13 |
| FY2024S$'000 | 5,776 | PDF p. 13 |
| FY2023S$'000 | 3,678 | PDF p. 13 |
| Profit/(Loss) (S$'000) | ||
| FY2026S$'000 | 317 | PDF p. 13 |
| FY2025S$'000 | (1,475) | PDF p. 13 |
| FY2024S$'000 | 104 | PDF p. 13 |
| FY2023S$'000 | (2,011) | PDF p. 13 |
| Cash and Cash Equivalents (S$'000) | ||
| FY2026S$'000 | 2,133 | PDF p. 13 |
| FY2025S$'000 | 2,167 | PDF p. 13 |
| FY2024S$'000 | 3,141 | PDF p. 13 |
| FY2023S$'000 | 7,113 | PDF p. 13 |
| Net Assets (S$'000) | ||
| FY2026S$'000 | 5,882 | PDF p. 13 |
| FY2025S$'000 | 5,560 | PDF p. 13 |
| FY2024S$'000 | 7,035 | PDF p. 13 |
| FY2023S$'000 | 6,931 | PDF p. 13 |
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Definitions & sources
Original report: PDF p. 13 ↗
Four-year chart-style highlights (not a five-year table). Each row's single value belongs to the fiscal year in the row label; the column year 2026 is a placeholder for the row-labelled year. Financial year ends 30 June.
Earnings/(loss) per share (Note 11), Group
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 30 June 2026 | 2025Group, FY ended 30 June 2025 | Source |
|---|---|---|---|
| Earnings/(loss) per share | |||
| Profit/(loss) for the year attributable to equity holders of the Company ($)$ | 317,404 | (1,475,114) | PDF p. 103 |
| Weighted average number of ordinary sharesnumber of shares | 484,844,100 | 484,844,100 | PDF p. 103 |
| Earnings/(loss) per share (cents)cents | 0.07 | (0.30) | PDF p. 103 |
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Original report: PDF p. 103 ↗
The fully diluted earnings per ordinary share is the same as basic earnings per ordinary share as there were no options granted or outstanding during the reporting year.
Earnings/(loss) per share is calculated by dividing the Group's profit/(loss) attributable to shareholders by the weighted number of shares of no par value in issue during the reporting year.
The basic amount per share ratio is based on weighted average number of ordinary shares outstanding during each reporting year. It is after the neutralisation by the treasury shares.
Earnings/(loss) per share on face of income statement
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Earnings/(loss) per share | |||
| Basic and dilutedCents | 0.07 | (0.30) | PDF p. 86 |
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Definitions & sources
Original report: PDF p. 86 ↗
Where the money comes from
Segment information
By business
Profit or loss and reconciliation (Group, by segment) 12 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Revenue by segment | |||
| Security solutions$ | 18,608,817 | 7,942,074 | PDF p. 98 |
| Maintenance and leasing$ | 2,127,294 | 3,340,701 | PDF p. 98 |
| Revenue by segment total$ | 20,736,111 | 11,282,775 | PDF p. 98 |
| Gross profit by segment - Allocated amounts | |||
| – Security solutions$ | 5,798,950 | 1,667,607 | PDF p. 98 |
| – Maintenance and leasing$ | 1,232,977 | 2,222,556 | PDF p. 98 |
| Gross profit by segment total$ | 7,031,927 | 3,890,163 | PDF p. 98 |
| Unallocated amounts | |||
| – Other income$ | 34,796 | 63,584 | PDF p. 98 |
| – Allowance for expected credit loss – (loss)/reversal$ | (200) | 7,439 | PDF p. 98 |
| – Administrative expenses$ | (6,688,274) | (5,429,885) | PDF p. 98 |
| – Other operating expenses$ | (31,210) | (15,773) | PDF p. 98 |
| – Net finance costs$ | (29,635) | (5,742) | PDF p. 98 |
| Result after unallocated amounts (unlabelled total)$ | 317,404 | (1,490,214) | PDF p. 98 |
Notes
Row label for final total is unlabelled in the source.
Assets, liabilities and reconciliations 16 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Total assets by segments - Allocated amounts | |||
| – Security solutions$ | 9,432,208 | 5,138,308 | PDF p. 99 |
| – Maintenance and leasing$ | 2,009,393 | 1,557,614 | PDF p. 99 |
| Allocated assets total$ | 11,441,601 | 6,695,922 | PDF p. 99 |
| Total assets - Unallocated amounts | |||
| – Plant and equipment$ | 598,759 | 326,500 | PDF p. 99 |
| – Cash and cash equivalents$ | 2,133,338 | 2,167,392 | PDF p. 99 |
| – Restricted fixed deposits$ | 599,711 | – | PDF p. 99 |
| – Other receivables$ | 109,008 | 84,846 | PDF p. 99 |
| Total assets total$ | 14,882,417 | 9,274,660 | PDF p. 99 |
| Total liabilities by segments - Allocated amounts | |||
| – Security solutions$ | (6,895,339) | (2,357,286) | PDF p. 99 |
| – Maintenance and leasing$ | (941,316) | (645,034) | PDF p. 99 |
| Allocated liabilities total$ | (7,836,655) | (3,002,320) | PDF p. 99 |
| Total liabilities - Unallocated amounts | |||
| – Loans and borrowings$ | (302,919) | (130,989) | PDF p. 99 |
| – Lease liabilities$ | (45,259) | (8,604) | PDF p. 99 |
| – Other payables$ | (814,163) | (571,431) | PDF p. 99 |
| – Deferred tax liabilities$ | (1,490) | (1,490) | PDF p. 99 |
| Total liabilities total$ | (9,000,486) | (3,714,834) | PDF p. 99 |
Notes
Totals rows are unlabelled in the source.
Other material items and reconciliation 10 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Interest income | |||
| Security solutions$ | 1,648 | 1,140 | PDF p. 99 |
| Unallocated amounts$ | – | 7 | PDF p. 99 |
| Interest income total$ | 1,648 | 1,147 | PDF p. 99 |
| Interest expense | |||
| Security solutions$ | (45,369) | (10,134) | PDF p. 99 |
| Maintenance and leasing$ | (318) | (6) | PDF p. 99 |
| Unallocated amounts$ | (6,100) | (18,182) | PDF p. 99 |
| Interest expense total$ | (51,787) | (28,322) | PDF p. 99 |
| Unallocated amounts | |||
| Depreciation of plant and equipment$ | (199,384) | (147,943) | PDF p. 99 |
| Allowance for expected credit loss – (loss)/reversal$ | (200) | 7,439 | PDF p. 99 |
| Capital expenditure$ | (474,475) | (144,428) | PDF p. 99 |
Notes
Totals rows are unlabelled in the source.
Information on major customers by revenue transactions 3 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Major customers | |||
| Top 1 customer$ | 9,992,751 | 1,878,896 | PDF p. 100 |
| Top 2 customers$ | 12,369,974 | 3,687,157 | PDF p. 100 |
| Top 3 customers$ | 14,000,228 | 4,866,485 | PDF p. 100 |
By geography
Geographical information - Revenue and Non-current assets 5 lines
| Item / unit | 2026Revenue | 2025Revenue | 2026Non-current assets | 2025Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$ | 20,672,298 | 10,940,577 | 1,888,057 | 368,181 | PDF p. 100 |
| East Asia(1)$ | 4,797 | 58,875 | – | – | PDF p. 100 |
| Indochina(2)$ | 30,913 | 11,568 | – | – | PDF p. 100 |
| Rest of Southeast Asia(3)$ | 28,103 | 271,755 | – | – | PDF p. 100 |
| Total (unlabelled)$ | 20,736,111 | 11,282,775 | 1,888,057 | 368,181 | PDF p. 100 |
Notes
(1) Includes People’s Republic of China, South Korea and Japan.
(2) Includes Myanmar, Thailand, Laos, Cambodia and Vietnam.
(3) Includes Malaysia, Brunei, Indonesia, Philippines and Timor Leste.
Revenues are attributed to countries on the basis of the customer’s location, irrespective of the origin of the goods or services. The non-current assets are analysed by the geographical area in which the assets are located.
Debt
Borrowings
Liquidity risk – Group 2026 contractual undiscounted maturity
| Item / unit | 2026Less than 1 year, $ | 20261 – 5 years, $ | 2026Total, $ | Source |
|---|---|---|---|---|
| 2026 | ||||
| Loans from a related party$ | 304,808 | – | 304,808 | PDF p. 114 |
| Gross lease liabilities$ | 11,700 | 39,000 | 50,700 | PDF p. 114 |
Notes
Contractual and undiscounted cash flows. Trade and other payables row omitted (not debt).
Liquidity risk – Group 2025 contractual undiscounted maturity
| Item / unit | 2025Less than 1 year, $ | 20251 – 5 years, $ | 2025Total, $ | Source |
|---|---|---|---|---|
| 2025 | ||||
| Gross loans and borrowings$ | 131,484 | – | 131,484 | PDF p. 114 |
| Gross lease liabilities$ | 8,775 | – | 8,775 | PDF p. 114 |
Notes
Contractual and undiscounted cash flows.
Borrowing notes 2 tables
Loans and borrowings
| Item / unit | 2026$ | 2025$ | Source |
|---|---|---|---|
| Non-current, fixed interest rate | |||
| Lease liabilities (note 26A)$ | 35,707 | – | PDF p. 111 |
| Current, fixed interest rate | |||
| Bank loans (secured)$ | – | 130,989 | PDF p. 111 |
| Loans from a related party (unsecured)$ | 302,919 | – | PDF p. 111 |
| Lease liabilities (note 26A)$ | 9,552 | 8,604 | PDF p. 111 |
| Non-current portion payable | |||
| Due within 2 to 5 years$ | 35,707 | – | PDF p. 111 |
Notes
Printed subtotals: non-current 35,707 / –; current 312,471 / 139,593; total 348,178 / 139,593.
Related party provided unsecured short-term loans totalling $300,000 to a subsidiary; accrued interest $2,919 (2025: Nil); loans mature within 91 to 154 days from drawdown.
Range of fixed interest rates per annum
| Item / unit | 2026% p.a. | 2025% p.a. | Source |
|---|---|---|---|
| Fixed interest rates | |||
| Bank loans (secured)% p.a. | 2.50 | 2.50 | PDF p. 111 |
| Loans from a related party (unsecured)% p.a. | 4.84 | – | PDF p. 111 |
| Lease liabilities% p.a. | 5.25 | 4.75 | PDF p. 111 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a formal dividend policy. The form, frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, cash flow generated from operations, projected capital requirements for the business growth and other factors as the Board may deem appropriate. | Company | PDF p. 71 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| For FY2026, no dividend has been declared or recommended | For FY2026, no dividend has been declared or recommended for FY2026 as the Group continues to operate prudently and seeks to retain cash in the current economic environment. | FY2026 | PDF p. 71 |
Extracted from Annual Report 2026 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. 85 |
| Engagement partner | Adrian Tan Khai-Chung | Group | PDF p. 85 |
| 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 | PDF p. 82 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Recognition of revenue, contract assets and contract liabilities | Management determined that the performance obligations under project revenue are satisfied over time. | Group | PDF p. 82 |
| Assessment of expected credit losses on trade receivables and contract assets | The expected credit losses (“ECL”) on trade receivables and contract assets is assessed and estimated by management through the application of judgement and use of subjective assumptions. | Group | PDF p. 83 |
Extracted from Annual Report 2026 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 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.