Annual Report 2025
Auditor’s opinion: a true and fair view. Read auditor’s report (PDF p. 84)
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended 31 December 2025 | 2024Group / year ended 31 December 2024 | Source |
|---|---|---|---|
| income | |||
| RevenueSingapore dollars thousands | 74,060 | 64,467 | PDF p. 88 |
| Cost of salesSingapore dollars thousands | (58,908) | (50,268) | PDF p. 88 |
| Gross profitSingapore dollars thousands | 15,152 | 14,199 | PDF p. 88 |
| Other operating incomeSingapore dollars thousands | 3,251 | 4,331 | PDF p. 88 |
| Administrative expensesSingapore dollars thousands | (16,937) | (17,835) | PDF p. 88 |
| Finance expensesSingapore dollars thousands | (107) | (124) | PDF p. 88 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | 18 | 778 | PDF p. 88 |
| Profit before income taxSingapore dollars thousands | 1,377 | 1,349 | PDF p. 88 |
| Income tax creditSingapore dollars thousands | 137 | 3 | PDF p. 88 |
| PROFIT FOR THE FINANCIAL YEAR, REPRESENTING TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL YEARSingapore dollars thousands | 1,514 | 1,352 | PDF p. 88 |
| Profit for the financial year attributable to: | |||
| Owners of the CompanySingapore dollars thousands | 1,378 | 1,351 | PDF p. 88 |
| Non-controlling interestsSingapore dollars thousands | 136 | 1 | PDF p. 88 |
| Profit for the financial yearSingapore dollars thousands | 1,514 | 1,352 | PDF p. 88 |
| attributable to: | |||
| Owners of the CompanySingapore dollars thousands | 1,378 | 1,351 | PDF p. 88 |
| Non-controlling interestsSingapore dollars thousands | 136 | 1 | PDF p. 88 |
| Total comprehensive income for the financial yearSingapore dollars thousands | 1,514 | 1,352 | PDF p. 88 |
| Company (cents per share) | |||
| Basic and dilutedSingapore cents per share | 0.55 | 0.54 | PDF p. 88 |
Original report: PDF p. 88 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / as at 31 December 2025 | 2024Group / as at 31 December 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Goodwill on consolidationSingapore dollars thousands | 2,845 | 2,845 | PDF p. 89 |
| Intangible assetsSingapore dollars thousands | 1,389 | 526 | PDF p. 89 |
| Investments in subsidiariesSingapore dollars thousands | – | – | PDF p. 89 |
| Investments in associatesSingapore dollars thousands | 18 | – | PDF p. 89 |
| Other investmentsSingapore dollars thousands | 30 | 56 | PDF p. 89 |
| Property, plant and equipmentSingapore dollars thousands | 1,157 | 516 | PDF p. 89 |
| Investment propertySingapore dollars thousands | 1,030 | 870 | PDF p. 89 |
| Right-of-use assetsSingapore dollars thousands | 1,906 | 2,223 | PDF p. 89 |
| Deferred tax assetsSingapore dollars thousands | 198 | – | PDF p. 89 |
| Total non-current assetsSingapore dollars thousands | 8,573 | 7,036 | PDF p. 89 |
| Current assets | |||
| InventoriesSingapore dollars thousands | 435 | 252 | PDF p. 89 |
| Other investmentsSingapore dollars thousands | 1,916 | 1,672 | PDF p. 89 |
| Trade and other receivablesSingapore dollars thousands | 12,698 | 11,436 | PDF p. 89 |
| Cash and bank balancesSingapore dollars thousands | 21,211 | 23,211 | PDF p. 89 |
| Total current assetsSingapore dollars thousands | 36,260 | 36,571 | PDF p. 89 |
| Total assetsSingapore dollars thousands | 44,833 | 43,607 | PDF p. 89 |
| Equity | |||
| Share capitalSingapore dollars thousands | 40,607 | 40,607 | PDF p. 89 |
| Treasury sharesSingapore dollars thousands | (241) | (241) | PDF p. 89 |
| Accumulated lossesSingapore dollars thousands | (2,168) | (3,546) | PDF p. 89 |
| Other reservesSingapore dollars thousands | (3,742) | (3,457) | PDF p. 89 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 34,456 | 33,363 | PDF p. 89 |
| Non-controlling interestsSingapore dollars thousands | (208) | (109) | PDF p. 89 |
| Total equitySingapore dollars thousands | 34,248 | 33,254 | PDF p. 89 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 62 | 70 | PDF p. 89 |
| Lease liabilitiesSingapore dollars thousands | 978 | 1,080 | PDF p. 89 |
| Total non-current liabilitiesSingapore dollars thousands | 1,040 | 1,150 | PDF p. 89 |
| Current liabilities | |||
| Lease liabilitiesSingapore dollars thousands | 978 | 1,197 | PDF p. 89 |
| Trade and other payablesSingapore dollars thousands | 7,596 | 7,157 | PDF p. 89 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 901 | 849 | PDF p. 89 |
| Income tax payableSingapore dollars thousands | 70 | – | PDF p. 89 |
| Total current liabilitiesSingapore dollars thousands | 9,545 | 9,203 | PDF p. 89 |
| Total liabilitiesSingapore dollars thousands | 10,585 | 10,353 | PDF p. 89 |
| Total equity and liabilitiesSingapore dollars thousands | 44,833 | 43,607 | PDF p. 89 |
Original report: PDF p. 89 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / as at 31 December 2025 | 2024Company / as at 31 December 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Goodwill on consolidationSingapore dollars thousands | – | – | PDF p. 89 |
| Intangible assetsSingapore dollars thousands | – | – | PDF p. 89 |
| Investments in subsidiariesSingapore dollars thousands | 8,781 | 8,781 | PDF p. 89 |
| Investments in associatesSingapore dollars thousands | – | – | PDF p. 89 |
| Other investmentsSingapore dollars thousands | – | – | PDF p. 89 |
| Property, plant and equipmentSingapore dollars thousands | – | – | PDF p. 89 |
| Investment propertySingapore dollars thousands | – | – | PDF p. 89 |
| Right-of-use assetsSingapore dollars thousands | – | – | PDF p. 89 |
| Deferred tax assetsSingapore dollars thousands | – | – | PDF p. 89 |
| Total non-current assetsSingapore dollars thousands | 8,781 | 8,781 | PDF p. 89 |
| Current assets | |||
| InventoriesSingapore dollars thousands | – | – | PDF p. 89 |
| Other investmentsSingapore dollars thousands | 1,916 | 1,672 | PDF p. 89 |
| Trade and other receivablesSingapore dollars thousands | 13,538 | 9,380 | PDF p. 89 |
| Cash and bank balancesSingapore dollars thousands | 7,684 | 11,721 | PDF p. 89 |
| Total current assetsSingapore dollars thousands | 23,138 | 22,773 | PDF p. 89 |
| Total assetsSingapore dollars thousands | 31,919 | 31,554 | PDF p. 89 |
| Equity | |||
| Share capitalSingapore dollars thousands | 40,607 | 40,607 | PDF p. 89 |
| Treasury sharesSingapore dollars thousands | (241) | (241) | PDF p. 89 |
| Accumulated lossesSingapore dollars thousands | (8,558) | (8,896) | PDF p. 89 |
| Other reservesSingapore dollars thousands | – | – | PDF p. 89 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 31,808 | 31,470 | PDF p. 89 |
| Non-controlling interestsSingapore dollars thousands | – | – | PDF p. 89 |
| Total equitySingapore dollars thousands | 31,808 | 31,470 | PDF p. 89 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | – | – | PDF p. 89 |
| Lease liabilitiesSingapore dollars thousands | – | – | PDF p. 89 |
| Total non-current liabilitiesSingapore dollars thousands | – | – | PDF p. 89 |
| Current liabilities | |||
| Lease liabilitiesSingapore dollars thousands | – | – | PDF p. 89 |
| Trade and other payablesSingapore dollars thousands | 111 | 84 | PDF p. 89 |
| Contract liabilities from contracts with customersSingapore dollars thousands | – | – | PDF p. 89 |
| Income tax payableSingapore dollars thousands | – | – | PDF p. 89 |
| Total current liabilitiesSingapore dollars thousands | 111 | 84 | PDF p. 89 |
| Total liabilitiesSingapore dollars thousands | 111 | 84 | PDF p. 89 |
| Total equity and liabilitiesSingapore dollars thousands | 31,919 | 31,554 | PDF p. 89 |
Original report: PDF p. 89 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Share capital | 2025Group / Treasury shares | 2025Group / Accumulated losses / retained earnings | 2025Group / Capital reserve | 2025Group / Merger reserve | 2025Group / Equity attributable to owners | 2025Group / Non-controlling interests | 2025Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|
| equity | |||||||||
| Balance at 31 December 2024Singapore dollars thousands | 40,607 | (241) | (3,546) | (854) | (2,603) | 33,363 | (109) | 33,254 | PDF p. 90 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars thousands | – | – | 1,378 | – | – | 1,378 | 136 | 1,514 | PDF p. 90 |
| Acquisition of interest in a subsidiary without change of controlSingapore dollars thousands | – | – | – | (285) | – | (285) | (105) | (390) | PDF p. 90 |
| Increase in share capital in a subsidiary with non-controlling interestsSingapore dollars thousands | – | – | – | – | – | – | 7 | 7 | PDF p. 90 |
| Strike-off of a subsidiary with non-controlling interestsSingapore dollars thousands | – | – | – | – | – | – | (137) | (137) | PDF p. 90 |
| Balance at 31 December 2025Singapore dollars thousands | 40,607 | (241) | (2,168) | (1,139) | (2,603) | 34,456 | (208) | 34,248 | PDF p. 90 |
Original report: PDF p. 90 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / Share capital | 2025Company / Treasury shares | 2025Company / Accumulated losses / retained earnings | 2025Company / Total equity | Source |
|---|---|---|---|---|---|
| company_equity | |||||
| Balance at 31 December 2024Singapore dollars thousands | 40,607 | (241) | (8,896) | 31,470 | PDF p. 90 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars thousands | – | – | 338 | 338 | PDF p. 90 |
| Balance at 31 December 2025Singapore dollars thousands | 40,607 | (241) | (8,558) | 31,808 | PDF p. 90 |
Original report: PDF p. 90 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Share capital | 2024Group / Treasury shares | 2024Group / Accumulated losses / retained earnings | 2024Group / Capital reserve | 2024Group / Merger reserve | 2024Group / Equity attributable to owners | 2024Group / Non-controlling interests | 2024Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|
| equity | |||||||||
| Balance at 1 January 2024Singapore dollars thousands | 40,607 | (241) | (4,897) | (854) | (2,603) | 32,012 | (403) | 31,609 | PDF p. 90 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars thousands | – | – | 1,351 | – | – | 1,351 | 1 | 1,352 | PDF p. 90 |
| Increase in share capital in a subsidiary with non-controlling interestsSingapore dollars thousands | – | – | – | – | – | – | 36 | 36 | PDF p. 90 |
| Disposal of a subsidiary with non-controlling interestsSingapore dollars thousands | – | – | – | – | – | – | 257 | 257 | PDF p. 90 |
| Balance at 31 December 2024Singapore dollars thousands | 40,607 | (241) | (3,546) | (854) | (2,603) | 33,363 | (109) | 33,254 | PDF p. 90 |
Original report: PDF p. 90 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Company / Share capital | 2024Company / Treasury shares | 2024Company / Accumulated losses / retained earnings | 2024Company / Total equity | Source |
|---|---|---|---|---|---|
| company_equity | |||||
| Balance at 1 January 2024Singapore dollars thousands | 40,607 | (241) | (523) | 39,843 | PDF p. 90 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars thousands | – | – | (8,373) | (8,373) | PDF p. 90 |
| Balance at 31 December 2024Singapore dollars thousands | 40,607 | (241) | (8,896) | 31,470 | PDF p. 90 |
Original report: PDF p. 90 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended 31 December 2025 | 2024Group / year ended 31 December 2024 | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before income taxSingapore dollars thousands | 1,377 | 1,349 | PDF p. 91 |
| Adjustments for: | |||
| Allowance for inventory obsolescenceSingapore dollars thousands | 20 | – | PDF p. 91 |
| Amortisation of intangible assetsSingapore dollars thousands | 129 | 183 | PDF p. 91 |
| Bad debts written-offSingapore dollars thousands | – | 20 | PDF p. 91 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 297 | 322 | PDF p. 91 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 1,601 | 1,678 | PDF p. 91 |
| Dividend incomeSingapore dollars thousands | (165) | (77) | PDF p. 91 |
| Fair value gain on investment propertySingapore dollars thousands | (160) | (19) | PDF p. 91 |
| Fair value gain arising from quoted financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars thousands | (244) | (47) | PDF p. 91 |
| Fair value loss/(gain) arising from unquoted financial assets at FVTPLSingapore dollars thousands | 26 | (56) | PDF p. 91 |
| Gain on striking off/disposal of subsidiarySingapore dollars thousands | (137) | (600) | PDF p. 91 |
| Gain from waiver of dividends by previous shareholders of a subsidiarySingapore dollars thousands | (54) | – | PDF p. 91 |
| Gain on disposal of associatesSingapore dollars thousands | – | (665) | PDF p. 91 |
| Gain on disposal of quoted financial assetsSingapore dollars thousands | – | (338) | PDF p. 91 |
| Gain from unused credit notesSingapore dollars thousands | (95) | – | PDF p. 91 |
| Loss/(Gain) on lease terminationSingapore dollars thousands | 22 | (8) | PDF p. 91 |
| Loss/(Gain) on disposal of property, plant and equipment, netSingapore dollars thousands | 10 | (12) | PDF p. 91 |
| Interest expenseSingapore dollars thousands | 107 | 124 | PDF p. 91 |
| Interest incomeSingapore dollars thousands | (186) | (263) | PDF p. 91 |
| Loss allowance for receivables (trade), netSingapore dollars thousands | 41 | 230 | PDF p. 91 |
| Loss allowance for receivables (non-trade), netSingapore dollars thousands | 322 | 207 | PDF p. 91 |
| Property, plant and equipment written-offSingapore dollars thousands | – | 2 | PDF p. 91 |
| Reversal of provision for warrantiesSingapore dollars thousands | (1) | (1) | PDF p. 91 |
| Inventories written-offSingapore dollars thousands | 40 | – | PDF p. 91 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | (18) | (778) | PDF p. 91 |
| Operating cash flows before movements in working capitalSingapore dollars thousands | 2,932 | 1,251 | PDF p. 91 |
| Changes in working capital: | |||
| InventoriesSingapore dollars thousands | (243) | 81 | PDF p. 91 |
| Trade and other receivablesSingapore dollars thousands | (1,625) | 9 | PDF p. 91 |
| Trade and other payablesSingapore dollars thousands | 155 | 1,631 | PDF p. 91 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 52 | 26 | PDF p. 91 |
| Cash generated from operationsSingapore dollars thousands | 1,271 | 2,998 | PDF p. 91 |
| Interest receivedSingapore dollars thousands | 186 | 263 | PDF p. 91 |
| Income taxes paidSingapore dollars thousands | 1 | (3) | PDF p. 91 |
| Net cash generated from operating activitiesSingapore dollars thousands | 1,458 | 3,258 | PDF p. 91 |
| Investing activities | |||
| Dividend received from quoted equity instrumentsSingapore dollars thousands | 165 | 77 | PDF p. 92 |
| Acquisition of non-controlling interests in a subsidiarySingapore dollars thousands | (390) | – | PDF p. 92 |
| Increase in share capital by non-controlling interests in subsidiariesSingapore dollars thousands | 7 | – | PDF p. 92 |
| Disposal of a subsidiarySingapore dollars thousands | – | (66) | PDF p. 92 |
| Proceeds from disposal of associatesSingapore dollars thousands | – | 4,554 | PDF p. 92 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 11 | 41 | PDF p. 92 |
| Increase in fixed deposits pledgedSingapore dollars thousands | (1,400) | – | PDF p. 92 |
| Additions of intangible assetsSingapore dollars thousands | (992) | (463) | PDF p. 92 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (525) | (223) | PDF p. 92 |
| Proceeds from disposal of quoted equity instruments held at FVTPLSingapore dollars thousands | * | 1,545 | PDF p. 92 |
| Net cash (used in)/generated from investing activitiesSingapore dollars thousands | (3,124) | 5,465 | PDF p. 92 |
| Financing activities | |||
| Interest paidSingapore dollars thousands | (107) | (124) | PDF p. 92 |
| Repayment of bank borrowingsSingapore dollars thousands | – | (15) | PDF p. 92 |
| Repayment of lease liabilitiesSingapore dollars thousands | (1,627) | (1,666) | PDF p. 92 |
| Net cash used in financing activitiesSingapore dollars thousands | (1,734) | (1,805) | PDF p. 92 |
| Net (decrease)/increase in cash and cash equivalentsSingapore dollars thousands | (3,400) | 6,918 | PDF p. 92 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 23,211 | 16,293 | PDF p. 92 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 19,811 | 23,211 | PDF p. 92 |
Original report: PDF p. 91 ↗ PDF p. 92 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended 31 December 2023 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars thousands | 65,081 | PDF p. 87 |
| Cost of salesSingapore dollars thousands | (52,367) | PDF p. 87 |
| Gross profitSingapore dollars thousands | 12,714 | PDF p. 87 |
| Other operating incomeSingapore dollars thousands | 1,421 | PDF p. 87 |
| Administrative expensesSingapore dollars thousands | (18,448) | PDF p. 87 |
| Finance expensesSingapore dollars thousands | (112) | PDF p. 87 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | 209 | PDF p. 87 |
| Profit/(loss) before income taxSingapore dollars thousands | (4,216) | PDF p. 87 |
| Income tax creditSingapore dollars thousands | 1 | PDF p. 87 |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR, REPRESENTING TOTAL COMPREHENSIVE INCOME/(LOSS) FOR THE FINANCIAL YEARSingapore dollars thousands | (4,215) | PDF p. 87 |
| Profit/(loss) for the financial year attributable to: | ||
| Owners of the CompanySingapore dollars thousands | (3,934) | PDF p. 87 |
| Non-controlling interestsSingapore dollars thousands | (281) | PDF p. 87 |
| Profit/(loss) for the financial yearSingapore dollars thousands | (4,215) | PDF p. 87 |
| attributable to: | ||
| Owners of the CompanySingapore dollars thousands | (3,934) | PDF p. 87 |
| Non-controlling interestsSingapore dollars thousands | (281) | PDF p. 87 |
| Total comprehensive income for the financial yearSingapore dollars thousands | (4,215) | PDF p. 87 |
| Company (cents per share) | ||
| Basic and dilutedSingapore cents per share | (1.57) | PDF p. 87 |
Original report: PDF p. 87 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / as at 31 December 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Goodwill on consolidationSingapore dollars thousands | 2,845 | PDF p. 88 |
| Intangible assetsSingapore dollars thousands | 246 | PDF p. 88 |
| Investments in subsidiariesSingapore dollars thousands | – | PDF p. 88 |
| Investments in associatesSingapore dollars thousands | 619 | PDF p. 88 |
| Other investmentsSingapore dollars thousands | – | PDF p. 88 |
| Property, plant and equipmentSingapore dollars thousands | 2,367 | PDF p. 88 |
| Investment propertySingapore dollars thousands | – | PDF p. 88 |
| Right-of-use assetsSingapore dollars thousands | 2,392 | PDF p. 88 |
| Total non-current assetsSingapore dollars thousands | 8,469 | PDF p. 88 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 778 | PDF p. 88 |
| Other investmentsSingapore dollars thousands | 2,832 | PDF p. 88 |
| Trade and other receivablesSingapore dollars thousands | 15,281 | PDF p. 88 |
| Cash and bank balancesSingapore dollars thousands | 16,293 | PDF p. 88 |
| Total current assetsSingapore dollars thousands | 35,184 | PDF p. 88 |
| Total assetsSingapore dollars thousands | 43,653 | PDF p. 88 |
| Equity | ||
| Share capitalSingapore dollars thousands | 40,607 | PDF p. 88 |
| Treasury sharesSingapore dollars thousands | (241) | PDF p. 88 |
| Accumulated lossesSingapore dollars thousands | (4,897) | PDF p. 88 |
| Other reservesSingapore dollars thousands | (3,457) | PDF p. 88 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 32,012 | PDF p. 88 |
| Non-controlling interestsSingapore dollars thousands | (403) | PDF p. 88 |
| Total equitySingapore dollars thousands | 31,609 | PDF p. 88 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | 77 | PDF p. 88 |
| Lease liabilitiesSingapore dollars thousands | 1,016 | PDF p. 88 |
| Bank borrowingSingapore dollars thousands | 473 | PDF p. 88 |
| Total non-current liabilitiesSingapore dollars thousands | 1,566 | PDF p. 88 |
| Current liabilities | ||
| Lease liabilitiesSingapore dollars thousands | 1,426 | PDF p. 88 |
| Trade and other payablesSingapore dollars thousands | 8,151 | PDF p. 88 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 874 | PDF p. 88 |
| Bank borrowingSingapore dollars thousands | 27 | PDF p. 88 |
| Total current liabilitiesSingapore dollars thousands | 10,478 | PDF p. 88 |
| Total liabilitiesSingapore dollars thousands | 12,044 | PDF p. 88 |
| Total equity and liabilitiesSingapore dollars thousands | 43,653 | PDF p. 88 |
Original report: PDF p. 88 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / as at 31 December 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Goodwill on consolidationSingapore dollars thousands | – | PDF p. 88 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 88 |
| Investments in subsidiariesSingapore dollars thousands | 11,487 | PDF p. 88 |
| Investments in associatesSingapore dollars thousands | – | PDF p. 88 |
| Other investmentsSingapore dollars thousands | – | PDF p. 88 |
| Property, plant and equipmentSingapore dollars thousands | – | PDF p. 88 |
| Investment propertySingapore dollars thousands | – | PDF p. 88 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 88 |
| Total non-current assetsSingapore dollars thousands | 11,487 | PDF p. 88 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 88 |
| Other investmentsSingapore dollars thousands | 2,832 | PDF p. 88 |
| Trade and other receivablesSingapore dollars thousands | 16,450 | PDF p. 88 |
| Cash and bank balancesSingapore dollars thousands | 9,168 | PDF p. 88 |
| Total current assetsSingapore dollars thousands | 28,450 | PDF p. 88 |
| Total assetsSingapore dollars thousands | 39,937 | PDF p. 88 |
| Equity | ||
| Share capitalSingapore dollars thousands | 40,607 | PDF p. 88 |
| Treasury sharesSingapore dollars thousands | (241) | PDF p. 88 |
| Accumulated lossesSingapore dollars thousands | (523) | PDF p. 88 |
| Other reservesSingapore dollars thousands | – | PDF p. 88 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 39,843 | PDF p. 88 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 88 |
| Total equitySingapore dollars thousands | 39,843 | PDF p. 88 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 88 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 88 |
| Bank borrowingSingapore dollars thousands | – | PDF p. 88 |
| Total non-current liabilitiesSingapore dollars thousands | – | PDF p. 88 |
| Current liabilities | ||
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 88 |
| Trade and other payablesSingapore dollars thousands | 94 | PDF p. 88 |
| Contract liabilities from contracts with customersSingapore dollars thousands | – | PDF p. 88 |
| Bank borrowingSingapore dollars thousands | – | PDF p. 88 |
| Total current liabilitiesSingapore dollars thousands | 94 | PDF p. 88 |
| Total liabilitiesSingapore dollars thousands | 94 | PDF p. 88 |
| Total equity and liabilitiesSingapore dollars thousands | 39,937 | PDF p. 88 |
Original report: PDF p. 88 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / Share capital | 2023Group / Treasury shares | 2023Group / Accumulated losses / retained earnings | 2023Group / Capital reserve | 2023Group / Merger reserve | 2023Group / Equity attributable to owners | 2023Group / Non-controlling interests | 2023Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|
| equity | |||||||||
| Balance at 1 January 2023Singapore dollars thousands | 40,607 | (241) | (963) | (640) | (2,603) | 36,160 | (16) | 36,144 | PDF p. 89 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars thousands | – | – | (3,934) | – | – | (3,934) | (281) | (4,215) | PDF p. 89 |
| Acquisition of additional interest in existing subsidiariesSingapore dollars thousands | – | – | – | (214) | – | (214) | (106) | (320) | PDF p. 89 |
| Balance at 31 December 2023Singapore dollars thousands | 40,607 | (241) | (4,897) | (854) | (2,603) | 32,012 | (403) | 31,609 | PDF p. 89 |
Original report: PDF p. 89 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / Share capital | 2023Company / Treasury shares | 2023Company / Accumulated losses / retained earnings | 2023Company / Total equity | Source |
|---|---|---|---|---|---|
| company_equity | |||||
| Balance at 1 January 2023Singapore dollars thousands | 40,607 | (241) | (452) | 39,914 | PDF p. 89 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars thousands | – | – | (71) | (71) | PDF p. 89 |
| Balance at 31 December 2023Singapore dollars thousands | 40,607 | (241) | (523) | 39,843 | PDF p. 89 |
Original report: PDF p. 89 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended 31 December 2023 | Source |
|---|---|---|
| Operating activities | ||
| Profit/(loss) before income taxSingapore dollars thousands | (4,216) | PDF p. 90 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars thousands | 166 | PDF p. 90 |
| Impairment loss on investment in an associateSingapore dollars thousands | 1 | PDF p. 90 |
| Bad debts written-offSingapore dollars thousands | 1 | PDF p. 90 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 538 | PDF p. 90 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 1,689 | PDF p. 90 |
| Dividend incomeSingapore dollars thousands | (135) | PDF p. 90 |
| Fair value gain on investment propertySingapore dollars thousands | – | PDF p. 90 |
| Fair value (gain)/loss arising from quoted financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars thousands | 73 | PDF p. 90 |
| Fair value gain arising from unquoted financial assets at FVTPLSingapore dollars thousands | – | PDF p. 90 |
| Gain on disposal of subsidiarySingapore dollars thousands | – | PDF p. 90 |
| Gain on disposal of associatesSingapore dollars thousands | – | PDF p. 90 |
| Gain on disposal of quoted financial assetsSingapore dollars thousands | – | PDF p. 90 |
| Gain on lease terminationSingapore dollars thousands | (12) | PDF p. 90 |
| Gain on disposal of property, plant and equipment, netSingapore dollars thousands | (70) | PDF p. 90 |
| Interest expenseSingapore dollars thousands | 112 | PDF p. 90 |
| Interest incomeSingapore dollars thousands | (338) | PDF p. 90 |
| Loss allowance for receivables (trade), netSingapore dollars thousands | 131 | PDF p. 90 |
| Loss allowance for receivables (non-trade), netSingapore dollars thousands | 219 | PDF p. 90 |
| Property, plant and equipment written-offSingapore dollars thousands | 31 | PDF p. 90 |
| Reversal of provision for warrantiesSingapore dollars thousands | (1) | PDF p. 90 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | (209) | PDF p. 90 |
| Operating cash flows before movements in working capitalSingapore dollars thousands | (2,020) | PDF p. 90 |
| Changes in working capital: | ||
| InventoriesSingapore dollars thousands | 95 | PDF p. 90 |
| Trade and other receivablesSingapore dollars thousands | (1,171) | PDF p. 90 |
| Trade and other payablesSingapore dollars thousands | 1,252 | PDF p. 90 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 45 | PDF p. 90 |
| Cash generated from/(used in) operationsSingapore dollars thousands | (1,799) | PDF p. 90 |
| Interest receivedSingapore dollars thousands | 338 | PDF p. 90 |
| Income taxes paidSingapore dollars thousands | (5) | PDF p. 90 |
| Net cash generated from/(used in) operating activitiesSingapore dollars thousands | (1,466) | PDF p. 90 |
| Investing activities | ||
| Dividend received from quoted equity instrumentsSingapore dollars thousands | 135 | PDF p. 90 |
| Acquisition of non-controlling interests in a subsidiarySingapore dollars thousands | (320) | PDF p. 90 |
| Disposal of a subsidiarySingapore dollars thousands | – | PDF p. 90 |
| Proceeds from disposal of associatesSingapore dollars thousands | – | PDF p. 90 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 157 | PDF p. 90 |
| Additions of intangible assetsSingapore dollars thousands | – | PDF p. 90 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (1,169) | PDF p. 90 |
| Proceeds from disposal of quoted equity instruments held at FVTPLSingapore dollars thousands | – | PDF p. 90 |
| Net cash generated from/(used in) investing activitiesSingapore dollars thousands | (1,197) | PDF p. 90 |
| Financing activities | ||
| Interest paidSingapore dollars thousands | (16) | PDF p. 91 |
| Repayment of bank borrowingsSingapore dollars thousands | (30) | PDF p. 91 |
| Repayment of lease liabilitiesSingapore dollars thousands | (1,795) | PDF p. 91 |
| Net cash used in financing activitiesSingapore dollars thousands | (1,841) | PDF p. 91 |
| Net increase/(decrease) in cash and cash equivalentsSingapore dollars thousands | (4,504) | PDF p. 91 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 20,797 | PDF p. 91 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 16,293 | PDF p. 91 |
Original report: PDF p. 90 ↗ PDF p. 91 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 December 2022 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars thousands | 63,103 | PDF p. 90 |
| Cost of salesSingapore dollars thousands | (49,821) | PDF p. 90 |
| Gross profitSingapore dollars thousands | 13,282 | PDF p. 90 |
| Other operating incomeSingapore dollars thousands | 2,790 | PDF p. 90 |
| Administrative expensesSingapore dollars thousands | (20,657) | PDF p. 90 |
| Finance expensesSingapore dollars thousands | (98) | PDF p. 90 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | 15 | PDF p. 90 |
| Loss before income taxSingapore dollars thousands | (4,668) | PDF p. 90 |
| Income tax credit/(expense)Singapore dollars thousands | (5) | PDF p. 90 |
| LOSS FOR THE FINANCIAL YEAR, REPRESENTING TOTAL COMPREHENSIVE LOSS FOR THE FINANCIAL YEARSingapore dollars thousands | (4,673) | PDF p. 90 |
| Loss for the financial year attributable to: | ||
| Owners of the CompanySingapore dollars thousands | (4,421) | PDF p. 90 |
| Non-controlling interestsSingapore dollars thousands | (252) | PDF p. 90 |
| Loss for the financial yearSingapore dollars thousands | (4,673) | PDF p. 90 |
| Total comprehensive loss for the financial year attributable to: | ||
| Owners of the CompanySingapore dollars thousands | (4,421) | PDF p. 90 |
| Non-controlling interestsSingapore dollars thousands | (252) | PDF p. 90 |
| Total comprehensive loss for the financial yearSingapore dollars thousands | (4,673) | PDF p. 90 |
| Company (cents per share) | ||
| Basic and dilutedSingapore cents per share | (1.76) | PDF p. 90 |
Original report: PDF p. 90 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / as at 31 December 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Goodwill on consolidationSingapore dollars thousands | 2,845 | PDF p. 91 |
| Intangible assetsSingapore dollars thousands | 412 | PDF p. 91 |
| Investments in subsidiariesSingapore dollars thousands | – | PDF p. 91 |
| Investments in associatesSingapore dollars thousands | 411 | PDF p. 91 |
| Other investmentsSingapore dollars thousands | – | PDF p. 91 |
| Property, plant and equipmentSingapore dollars thousands | 1,854 | PDF p. 91 |
| Right-of-use assetsSingapore dollars thousands | 2,558 | PDF p. 91 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 91 |
| Total non-current assetsSingapore dollars thousands | 8,080 | PDF p. 91 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 873 | PDF p. 91 |
| Other investmentsSingapore dollars thousands | 2,905 | PDF p. 91 |
| Trade and other receivablesSingapore dollars thousands | 14,460 | PDF p. 91 |
| Cash and bank balancesSingapore dollars thousands | 20,797 | PDF p. 91 |
| Total current assetsSingapore dollars thousands | 39,035 | PDF p. 91 |
| Total assetsSingapore dollars thousands | 47,115 | PDF p. 91 |
| Equity | ||
| Share capitalSingapore dollars thousands | 40,607 | PDF p. 91 |
| Treasury sharesSingapore dollars thousands | (241) | PDF p. 91 |
| Accumulated lossesSingapore dollars thousands | (963) | PDF p. 91 |
| Other reservesSingapore dollars thousands | (3,243) | PDF p. 91 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 36,160 | PDF p. 91 |
| Non-controlling interestsSingapore dollars thousands | (16) | PDF p. 91 |
| Total equitySingapore dollars thousands | 36,144 | PDF p. 91 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | 83 | PDF p. 91 |
| Lease liabilitiesSingapore dollars thousands | 1,167 | PDF p. 91 |
| Bank borrowingSingapore dollars thousands | 498 | PDF p. 91 |
| Total non-current liabilitiesSingapore dollars thousands | 1,748 | PDF p. 91 |
| Current liabilities | ||
| Lease liabilitiesSingapore dollars thousands | 1,463 | PDF p. 91 |
| Trade and other payablesSingapore dollars thousands | 6,899 | PDF p. 91 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 829 | PDF p. 91 |
| Bank borrowingSingapore dollars thousands | 32 | PDF p. 91 |
| Total current liabilitiesSingapore dollars thousands | 9,223 | PDF p. 91 |
| Total liabilitiesSingapore dollars thousands | 10,971 | PDF p. 91 |
| Total equity and liabilitiesSingapore dollars thousands | 47,115 | PDF p. 91 |
Original report: PDF p. 91 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / as at 31 December 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Goodwill on consolidationSingapore dollars thousands | – | PDF p. 91 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 91 |
| Investments in subsidiariesSingapore dollars thousands | 11,487 | PDF p. 91 |
| Investments in associatesSingapore dollars thousands | – | PDF p. 91 |
| Other investmentsSingapore dollars thousands | – | PDF p. 91 |
| Property, plant and equipmentSingapore dollars thousands | – | PDF p. 91 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 91 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 91 |
| Total non-current assetsSingapore dollars thousands | 11,487 | PDF p. 91 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 91 |
| Other investmentsSingapore dollars thousands | 2,905 | PDF p. 91 |
| Trade and other receivablesSingapore dollars thousands | 11,989 | PDF p. 91 |
| Cash and bank balancesSingapore dollars thousands | 13,625 | PDF p. 91 |
| Total current assetsSingapore dollars thousands | 28,519 | PDF p. 91 |
| Total assetsSingapore dollars thousands | 40,006 | PDF p. 91 |
| Equity | ||
| Share capitalSingapore dollars thousands | 40,607 | PDF p. 91 |
| Treasury sharesSingapore dollars thousands | (241) | PDF p. 91 |
| Accumulated lossesSingapore dollars thousands | (452) | PDF p. 91 |
| Other reservesSingapore dollars thousands | – | PDF p. 91 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 39,914 | PDF p. 91 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 91 |
| Total equitySingapore dollars thousands | 39,914 | PDF p. 91 |
| Non-current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Bank borrowingSingapore dollars thousands | – | PDF p. 91 |
| Total non-current liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Current liabilities | ||
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 91 |
| Trade and other payablesSingapore dollars thousands | 92 | PDF p. 91 |
| Contract liabilities from contracts with customersSingapore dollars thousands | – | PDF p. 91 |
| Bank borrowingSingapore dollars thousands | – | PDF p. 91 |
| Total current liabilitiesSingapore dollars thousands | 92 | PDF p. 91 |
| Total liabilitiesSingapore dollars thousands | 92 | PDF p. 91 |
| Total equity and liabilitiesSingapore dollars thousands | 40,006 | PDF p. 91 |
Original report: PDF p. 91 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / Share capital | 2022Group / Treasury shares | 2022Group / Accumulated losses / retained earnings | 2022Group / Share options reserve | 2022Group / Capital reserve | 2022Group / Merger reserve | 2022Group / Equity attributable to owners | 2022Group / Non-controlling interests | 2022Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| equity | ||||||||||
| Balance at 1 January 2022Singapore dollars thousands | 40,607 | (241) | 3,352 | 106 | (354) | (2,603) | 40,867 | 686 | 41,553 | PDF p. 92 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars thousands | – | – | (4,421) | – | – | – | (4,421) | (252) | (4,673) | PDF p. 92 |
| Share options expiredSingapore dollars thousands | – | – | 106 | (106) | – | – | – | – | – | PDF p. 92 |
| Strike off of a subsidiary with non-controlling interestSingapore dollars thousands | – | – | – | – | – | – | – | (23) | (23) | PDF p. 92 |
| Acquisition of additional interest in existing subsidiariesSingapore dollars thousands | – | – | – | – | (286) | – | (286) | (354) | (640) | PDF p. 92 |
| Dividends declared to non-controlling interestsSingapore dollars thousands | – | – | – | – | – | – | – | (73) | (73) | PDF p. 92 |
| Balance at 31 December 2022Singapore dollars thousands | 40,607 | (241) | (963) | – | (640) | (2,603) | 36,160 | (16) | 36,144 | PDF p. 92 |
Original report: PDF p. 92 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / Share capital | 2022Company / Treasury shares | 2022Company / Accumulated losses / retained earnings | 2022Company / Share options reserve | 2022Company / Total equity | Source |
|---|---|---|---|---|---|---|
| company_equity | ||||||
| Balance at 1 January 2022Singapore dollars thousands | 40,607 | (241) | 58 | 106 | 40,530 | PDF p. 93 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars thousands | – | – | (616) | – | (616) | PDF p. 93 |
| Share options expiredSingapore dollars thousands | – | – | 106 | (106) | – | PDF p. 93 |
| Balance at 31 December 2022Singapore dollars thousands | 40,607 | (241) | (452) | – | 39,914 | PDF p. 93 |
Original report: PDF p. 93 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 December 2022 | Source |
|---|---|---|
| Operating activities | ||
| Loss before income taxSingapore dollars thousands | (4,668) | PDF p. 94 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars thousands | 185 | PDF p. 94 |
| Impairment loss of goodwillSingapore dollars thousands | 2,525 | PDF p. 94 |
| Impairment loss on investment in an associateSingapore dollars thousands | – | PDF p. 94 |
| Bad debts written-offSingapore dollars thousands | 2 | PDF p. 94 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 577 | PDF p. 94 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 1,618 | PDF p. 94 |
| Dividend incomeSingapore dollars thousands | (153) | PDF p. 94 |
| Fair value loss arising from quoted financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars thousands | 30 | PDF p. 94 |
| Fair value loss arising from unquoted financial assets at FVTPLSingapore dollars thousands | 125 | PDF p. 94 |
| Gain on lease terminationSingapore dollars thousands | (6) | PDF p. 94 |
| Gain on disposal of property, plant and equipment, netSingapore dollars thousands | (3) | PDF p. 94 |
| Gain on strike-off of a subsidiarySingapore dollars thousands | (23) | PDF p. 94 |
| Interest expenseSingapore dollars thousands | 98 | PDF p. 94 |
| Interest incomeSingapore dollars thousands | (197) | PDF p. 94 |
| Loss allowance/(Reversal of loss allowance) for receivables (trade), netSingapore dollars thousands | (20) | PDF p. 94 |
| Loss allowance for receivables (non-trade)Singapore dollars thousands | – | PDF p. 94 |
| Property, plant and equipment written-offSingapore dollars thousands | 1 | PDF p. 94 |
| Reversal of provision for warrantiesSingapore dollars thousands | (1) | PDF p. 94 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | (15) | PDF p. 94 |
| Written off of lease liabilitiesSingapore dollars thousands | 11 | PDF p. 94 |
| Operating cash flows before movements in working capitalSingapore dollars thousands | 86 | PDF p. 94 |
| Changes in working capital: | ||
| InventoriesSingapore dollars thousands | (176) | PDF p. 94 |
| Trade and other receivablesSingapore dollars thousands | 264 | PDF p. 94 |
| Trade and other payablesSingapore dollars thousands | 188 | PDF p. 94 |
| Contract liabilities from contracts with customersSingapore dollars thousands | (317) | PDF p. 94 |
| Cash (used in)/generated from operationsSingapore dollars thousands | 45 | PDF p. 94 |
| Interest receivedSingapore dollars thousands | 197 | PDF p. 94 |
| Income taxes paidSingapore dollars thousands | (18) | PDF p. 94 |
| Net cash (used in)/generated from operating activitiesSingapore dollars thousands | 224 | PDF p. 94 |
| Investing activities | ||
| Dividend received from quoted equity instrumentsSingapore dollars thousands | 153 | PDF p. 94 |
| Net cash outflow on acquisition of subsidiariesSingapore dollars thousands | (954) | PDF p. 94 |
| Acquisition of non-controlling interests in a subsidiarySingapore dollars thousands | (640) | PDF p. 94 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 88 | PDF p. 94 |
| Purchase of quoted equity instruments held at FVTPLSingapore dollars thousands | (429) | PDF p. 94 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (507) | PDF p. 94 |
| Net cash used in investing activitiesSingapore dollars thousands | (2,289) | PDF p. 94 |
| Financing activities | ||
| Dividends paid to non-controlling interests of subsidiariesSingapore dollars thousands | (73) | PDF p. 95 |
| Interest paidSingapore dollars thousands | (17) | PDF p. 95 |
| Repayment of bank borrowingsSingapore dollars thousands | (32) | PDF p. 95 |
| Repayment of lease liabilitiesSingapore dollars thousands | (1,813) | PDF p. 95 |
| Net cash used in financing activitiesSingapore dollars thousands | (1,935) | PDF p. 95 |
| Net decrease in cash and cash equivalentsSingapore dollars thousands | (4,000) | PDF p. 95 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 24,797 | PDF p. 95 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 20,797 | PDF p. 95 |
Original report: PDF p. 94 ↗ PDF p. 95 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended 31 December 2021 | Source |
|---|---|---|
| income | ||
| RevenueSingapore dollars thousands | 60,132 | PDF p. 78 |
| Cost of salesSingapore dollars thousands | (46,701) | PDF p. 78 |
| Gross profitSingapore dollars thousands | 13,431 | PDF p. 78 |
| Other operating incomeSingapore dollars thousands | 3,539 | PDF p. 78 |
| Administrative expensesSingapore dollars thousands | (20,800) | PDF p. 78 |
| Finance expensesSingapore dollars thousands | (116) | PDF p. 78 |
| Share of profits/(losses) from equity-accounted for associatesSingapore dollars thousands | (180) | PDF p. 78 |
| Loss before income taxSingapore dollars thousands | (4,126) | PDF p. 78 |
| Income tax (expense)/creditSingapore dollars thousands | 14 | PDF p. 78 |
| LOSS FOR THE FINANCIAL YEAR, REPRESENTING TOTAL COMPREHENSIVE LOSS FOR THE FINANCIAL YEARSingapore dollars thousands | (4,112) | PDF p. 78 |
| Loss for the financial year attributable to: | ||
| Owners of the CompanySingapore dollars thousands | (4,045) | PDF p. 78 |
| Non-controlling interestsSingapore dollars thousands | (67) | PDF p. 78 |
| Loss for the financial yearSingapore dollars thousands | (4,112) | PDF p. 78 |
| Total comprehensive loss for the financial year attributable to: | ||
| Owners of the CompanySingapore dollars thousands | (4,045) | PDF p. 78 |
| Non-controlling interestsSingapore dollars thousands | (67) | PDF p. 78 |
| Total comprehensive loss for the financial yearSingapore dollars thousands | (4,112) | PDF p. 78 |
| Company (cents per share) | ||
| Basic and dilutedSingapore cents per share | (1.61) | PDF p. 78 |
Original report: PDF p. 78 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / as at 31 December 2021 | Source |
|---|---|---|
| Non–current assets | ||
| Goodwill on consolidationSingapore dollars thousands | 4,425 | PDF p. 79 |
| Intangible assetsSingapore dollars thousands | 539 | PDF p. 79 |
| Investments in subsidiariesSingapore dollars thousands | – | PDF p. 79 |
| Investments in associatesSingapore dollars thousands | 396 | PDF p. 79 |
| Other investmentsSingapore dollars thousands | 125 | PDF p. 79 |
| Property, plant and equipmentSingapore dollars thousands | 2,007 | PDF p. 79 |
| Right–of–use assetsSingapore dollars thousands | 1,860 | PDF p. 79 |
| Deferred tax assetsSingapore dollars thousands | 28 | PDF p. 79 |
| Total non–current assetsSingapore dollars thousands | 9,380 | PDF p. 79 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 697 | PDF p. 79 |
| Other investmentsSingapore dollars thousands | 2,506 | PDF p. 79 |
| Trade and other receivablesSingapore dollars thousands | 14,679 | PDF p. 79 |
| Cash and bank balancesSingapore dollars thousands | 24,797 | PDF p. 79 |
| Total current assetsSingapore dollars thousands | 42,679 | PDF p. 79 |
| Total assetsSingapore dollars thousands | 52,059 | PDF p. 79 |
| Equity | ||
| Share capitalSingapore dollars thousands | 40,607 | PDF p. 79 |
| Treasury sharesSingapore dollars thousands | (241) | PDF p. 79 |
| (Accumulated losses)/Retained earningsSingapore dollars thousands | 3,352 | PDF p. 79 |
| Other reservesSingapore dollars thousands | (2,851) | PDF p. 79 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 40,867 | PDF p. 79 |
| Non–controlling interestsSingapore dollars thousands | 686 | PDF p. 79 |
| Total equitySingapore dollars thousands | 41,553 | PDF p. 79 |
| Non–current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | 85 | PDF p. 79 |
| Lease liabilitiesSingapore dollars thousands | 698 | PDF p. 79 |
| Bank borrowingSingapore dollars thousands | 530 | PDF p. 79 |
| Total non–current liabilitiesSingapore dollars thousands | 1,313 | PDF p. 79 |
| Current liabilities | ||
| Lease liabilitiesSingapore dollars thousands | 1,342 | PDF p. 79 |
| Trade and other payablesSingapore dollars thousands | 6,654 | PDF p. 79 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 1,146 | PDF p. 79 |
| Bank borrowingSingapore dollars thousands | 32 | PDF p. 79 |
| Income tax payableSingapore dollars thousands | 19 | PDF p. 79 |
| Total current liabilitiesSingapore dollars thousands | 9,193 | PDF p. 79 |
| Total liabilitiesSingapore dollars thousands | 10,506 | PDF p. 79 |
| Total equity and liabilitiesSingapore dollars thousands | 52,059 | PDF p. 79 |
Original report: PDF p. 79 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / as at 31 December 2021 | Source |
|---|---|---|
| Non–current assets | ||
| Goodwill on consolidationSingapore dollars thousands | – | PDF p. 79 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 79 |
| Investments in subsidiariesSingapore dollars thousands | 11,487 | PDF p. 79 |
| Investments in associatesSingapore dollars thousands | – | PDF p. 79 |
| Other investmentsSingapore dollars thousands | – | PDF p. 79 |
| Property, plant and equipmentSingapore dollars thousands | – | PDF p. 79 |
| Right–of–use assetsSingapore dollars thousands | – | PDF p. 79 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 79 |
| Total non–current assetsSingapore dollars thousands | 11,487 | PDF p. 79 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 79 |
| Other investmentsSingapore dollars thousands | 2,506 | PDF p. 79 |
| Trade and other receivablesSingapore dollars thousands | 11,008 | PDF p. 79 |
| Cash and bank balancesSingapore dollars thousands | 15,620 | PDF p. 79 |
| Total current assetsSingapore dollars thousands | 29,134 | PDF p. 79 |
| Total assetsSingapore dollars thousands | 40,621 | PDF p. 79 |
| Equity | ||
| Share capitalSingapore dollars thousands | 40,607 | PDF p. 79 |
| Treasury sharesSingapore dollars thousands | (241) | PDF p. 79 |
| (Accumulated losses)/Retained earningsSingapore dollars thousands | 58 | PDF p. 79 |
| Other reservesSingapore dollars thousands | 106 | PDF p. 79 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 40,530 | PDF p. 79 |
| Non–controlling interestsSingapore dollars thousands | – | PDF p. 79 |
| Total equitySingapore dollars thousands | 40,530 | PDF p. 79 |
| Non–current liabilities | ||
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 79 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 79 |
| Bank borrowingSingapore dollars thousands | – | PDF p. 79 |
| Total non–current liabilitiesSingapore dollars thousands | – | PDF p. 79 |
| Current liabilities | ||
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 79 |
| Trade and other payablesSingapore dollars thousands | 85 | PDF p. 79 |
| Contract liabilities from contracts with customersSingapore dollars thousands | – | PDF p. 79 |
| Bank borrowingSingapore dollars thousands | – | PDF p. 79 |
| Income tax payableSingapore dollars thousands | 6 | PDF p. 79 |
| Total current liabilitiesSingapore dollars thousands | 91 | PDF p. 79 |
| Total liabilitiesSingapore dollars thousands | 91 | PDF p. 79 |
| Total equity and liabilitiesSingapore dollars thousands | 40,621 | PDF p. 79 |
Original report: PDF p. 79 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / Share capital | 2021Group / Treasury shares | 2021Group / Accumulated losses / retained earnings | 2021Group / Share options reserve | 2021Group / Capital reserve | 2021Group / Merger reserve | 2021Group / Equity attributable to owners | 2021Group / Non-controlling interests | 2021Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| equity | ||||||||||
| Balance at 1 January 2021Singapore dollars thousands | 40,607 | (232) | 9,375 | 112 | (339) | (2,603) | 46,920 | 798 | 47,718 | PDF p. 80 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars thousands | – | – | (4,045) | – | – | – | (4,045) | (67) | (4,112) | PDF p. 80 |
| Purchase of treasury sharesSingapore dollars thousands | – | (9) | – | – | – | – | (9) | – | (9) | PDF p. 80 |
| Share options forfeitedSingapore dollars thousands | – | – | 6 | (6) | – | – | – | – | – | PDF p. 80 |
| Share options expenses pursuant to the ESOSSingapore dollars thousands | – | – | – | * | – | – | * | – | * | PDF p. 80 |
| Disposal of interest in a subsidiary without change of controlSingapore dollars thousands | – | – | – | – | 30 | – | 30 | – | 30 | PDF p. 80 |
| Acquisition of interest in a subsidiary without change of controlSingapore dollars thousands | – | – | – | – | (45) | – | (45) | (15) | (60) | PDF p. 80 |
| Non-controlling interests’ investment in subsidiariesSingapore dollars thousands | – | – | – | – | – | – | – | 276 | 276 | PDF p. 80 |
| Dividends declaredSingapore dollars thousands | – | – | (1,984) | – | – | – | (1,984) | (306) | (2,290) | PDF p. 80 |
| Balance at 31 December 2021Singapore dollars thousands | 40,607 | (241) | 3,352 | 106 | (354) | (2,603) | 40,867 | 686 | 41,553 | PDF p. 80 |
Original report: PDF p. 80 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / Share capital | 2021Company / Treasury shares | 2021Company / Accumulated losses / retained earnings | 2021Company / Share options reserve | 2021Company / Total equity | Source |
|---|---|---|---|---|---|---|
| company_equity | ||||||
| Balance at 1 January 2021Singapore dollars thousands | 40,607 | (232) | 2,001 | 112 | 42,488 | PDF p. 81 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars thousands | – | – | 35 | – | 35 | PDF p. 81 |
| Purchase of treasury sharesSingapore dollars thousands | – | (9) | – | – | (9) | PDF p. 81 |
| Share options forfeitedSingapore dollars thousands | – | – | 6 | (6) | – | PDF p. 81 |
| Share options expenses pursuant to the ESOSSingapore dollars thousands | – | – | – | * | * | PDF p. 81 |
| Dividends declaredSingapore dollars thousands | – | – | (1,984) | – | (1,984) | PDF p. 81 |
| Balance at 31 December 2021Singapore dollars thousands | 40,607 | (241) | 58 | 106 | 40,530 | PDF p. 81 |
Original report: PDF p. 81 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended 31 December 2021 | Source |
|---|---|---|
| Operating activities | ||
| Loss before income taxSingapore dollars thousands | (4,126) | PDF p. 82 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars thousands | 281 | PDF p. 82 |
| Impairment loss of goodwillSingapore dollars thousands | 1,619 | PDF p. 82 |
| Bad debts written-offSingapore dollars thousands | 2 | PDF p. 82 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 587 | PDF p. 82 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 1,680 | PDF p. 82 |
| Dividend incomeSingapore dollars thousands | (53) | PDF p. 82 |
| Fair value loss arising from quoted financial assets at FVTPLSingapore dollars thousands | 363 | PDF p. 82 |
| Fair value loss arising from unquoted financial assets at FVTPLSingapore dollars thousands | 486 | PDF p. 82 |
| (Gain)/Loss on lease terminationSingapore dollars thousands | 5 | PDF p. 82 |
| (Gain)/Loss on disposal of property, plant and equipment, netSingapore dollars thousands | 6 | PDF p. 82 |
| Gain on bargain purchase arising from acquisitionSingapore dollars thousands | (245) | PDF p. 82 |
| Gain on striking off of subsidiarySingapore dollars thousands | – | PDF p. 82 |
| Interest expenseSingapore dollars thousands | 116 | PDF p. 82 |
| Interest incomeSingapore dollars thousands | (83) | PDF p. 82 |
| (Reversal of loss allowance)/Loss allowance for receivables (trade), netSingapore dollars thousands | 85 | PDF p. 82 |
| Property, plant and equipment written-offSingapore dollars thousands | 65 | PDF p. 82 |
| Reversal of provision for warrantiesSingapore dollars thousands | * | PDF p. 82 |
| Share of (profits)/losses from equity-accounted for associatesSingapore dollars thousands | 180 | PDF p. 82 |
| Unrealised exchange gainSingapore dollars thousands | (1) | PDF p. 82 |
| Written off of lease liabilitiesSingapore dollars thousands | – | PDF p. 82 |
| Operating cash flows before movements in working capitalSingapore dollars thousands | 967 | PDF p. 82 |
| Changes in working capital: | ||
| InventoriesSingapore dollars thousands | 350 | PDF p. 82 |
| Trade and other receivablesSingapore dollars thousands | 3,547 | PDF p. 82 |
| Trade and other payablesSingapore dollars thousands | (1,046) | PDF p. 82 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 353 | PDF p. 82 |
| Cash generated from operationsSingapore dollars thousands | 4,171 | PDF p. 82 |
| Interest receivedSingapore dollars thousands | 83 | PDF p. 82 |
| Income taxes paidSingapore dollars thousands | (118) | PDF p. 82 |
| Net cash generated from operating activitiesSingapore dollars thousands | 4,136 | PDF p. 82 |
| Investing activities | ||
| Dividend received from quoted equity instrumentsSingapore dollars thousands | 53 | PDF p. 82 |
| Investment in unquoted equity instruments at FVTPLSingapore dollars thousands | (607) | PDF p. 82 |
| Net cash outflow on acquisition of subsidiariesSingapore dollars thousands | (700) | PDF p. 82 |
| Disposal of non-controlling interests in a subsidiarySingapore dollars thousands | 30 | PDF p. 82 |
| Acquisition of non-controlling interests in a subsidiarySingapore dollars thousands | (60) | PDF p. 82 |
| Investment in an associateSingapore dollars thousands | (180) | PDF p. 82 |
| Repayment from an associateSingapore dollars thousands | 804 | PDF p. 82 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 118 | PDF p. 82 |
| Proceed from disposal of investment in unquoted equity instrument at FVTPLSingapore dollars thousands | 12 | PDF p. 82 |
| Purchase of quoted equity instruments held at FVTPLSingapore dollars thousands | (1,862) | PDF p. 82 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (385) | PDF p. 82 |
| Net cash used in investing activitiesSingapore dollars thousands | (2,777) | PDF p. 82 |
| Dividends paid to: | ||
| Owners of the CompanySingapore dollars thousands | (1,984) | PDF p. 83 |
| Non-controlling interests of subsidiariesSingapore dollars thousands | – | PDF p. 83 |
| Fixed deposit pledgedSingapore dollars thousands | 5 | PDF p. 83 |
| Interest paidSingapore dollars thousands | (29) | PDF p. 83 |
| Non-controlling interests’ investment in a subsidiarySingapore dollars thousands | 180 | PDF p. 83 |
| Purchase of treasury sharesSingapore dollars thousands | (9) | PDF p. 83 |
| Repayment of bank borrowingsSingapore dollars thousands | (30) | PDF p. 83 |
| Repayment of lease liabilitiesSingapore dollars thousands | (1,853) | PDF p. 83 |
| Repayment to directorsSingapore dollars thousands | (454) | PDF p. 83 |
| Net cash used in financing activitiesSingapore dollars thousands | (4,174) | PDF p. 83 |
| Net decrease in cash and cash equivalentsSingapore dollars thousands | (2,815) | PDF p. 83 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 27,612 | PDF p. 83 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 24,797 | PDF p. 83 |
Original report: PDF p. 82 ↗ PDF p. 83 ↗
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / as originally reported | Source |
|---|---|---|
| Operating activities | ||
| Profit/(loss) before income taxSingapore dollars thousands | 1,349 | PDF p. 90 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars thousands | 183 | PDF p. 90 |
| Impairment loss on investment in an associateSingapore dollars thousands | – | PDF p. 90 |
| Bad debts written-offSingapore dollars thousands | 20 | PDF p. 90 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 322 | PDF p. 90 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 1,678 | PDF p. 90 |
| Dividend incomeSingapore dollars thousands | (77) | PDF p. 90 |
| Fair value gain on investment propertySingapore dollars thousands | (19) | PDF p. 90 |
| Fair value (gain)/loss arising from quoted financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars thousands | (47) | PDF p. 90 |
| Fair value gain arising from unquoted financial assets at FVTPLSingapore dollars thousands | (56) | PDF p. 90 |
| Gain on disposal of subsidiarySingapore dollars thousands | (600) | PDF p. 90 |
| Gain on disposal of associatesSingapore dollars thousands | (665) | PDF p. 90 |
| Gain on disposal of quoted financial assetsSingapore dollars thousands | (338) | PDF p. 90 |
| Gain on lease terminationSingapore dollars thousands | (8) | PDF p. 90 |
| Gain on disposal of property, plant and equipment, netSingapore dollars thousands | (12) | PDF p. 90 |
| Interest expenseSingapore dollars thousands | 124 | PDF p. 90 |
| Interest incomeSingapore dollars thousands | (263) | PDF p. 90 |
| Loss allowance for receivables (trade), netSingapore dollars thousands | 230 | PDF p. 90 |
| Loss allowance for receivables (non-trade), netSingapore dollars thousands | 207 | PDF p. 90 |
| Property, plant and equipment written-offSingapore dollars thousands | 2 | PDF p. 90 |
| Reversal of provision for warrantiesSingapore dollars thousands | (1) | PDF p. 90 |
| Share of profits from equity-accounted for associatesSingapore dollars thousands | (778) | PDF p. 90 |
| Operating cash flows before movements in working capitalSingapore dollars thousands | 1,251 | PDF p. 90 |
| Changes in working capital: | ||
| InventoriesSingapore dollars thousands | 81 | PDF p. 90 |
| Trade and other receivablesSingapore dollars thousands | 9 | PDF p. 90 |
| Trade and other payablesSingapore dollars thousands | 1,631 | PDF p. 90 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 26 | PDF p. 90 |
| Cash generated from/(used in) operationsSingapore dollars thousands | 2,998 | PDF p. 90 |
| Interest receivedSingapore dollars thousands | 263 | PDF p. 90 |
| Income taxes paidSingapore dollars thousands | (3) | PDF p. 90 |
| Net cash generated from/(used in) operating activitiesSingapore dollars thousands | 3,258 | PDF p. 90 |
| Investing activities | ||
| Dividend received from quoted equity instrumentsSingapore dollars thousands | 77 | PDF p. 90 |
| Acquisition of non-controlling interests in a subsidiarySingapore dollars thousands | – | PDF p. 90 |
| Disposal of a subsidiarySingapore dollars thousands | (66) | PDF p. 90 |
| Proceeds from disposal of associatesSingapore dollars thousands | 4,554 | PDF p. 90 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 41 | PDF p. 90 |
| Additions of intangible assetsSingapore dollars thousands | (463) | PDF p. 90 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (223) | PDF p. 90 |
| Proceeds from disposal of quoted equity instruments held at FVTPLSingapore dollars thousands | 1,545 | PDF p. 90 |
| Net cash generated from/(used in) investing activitiesSingapore dollars thousands | 5,465 | PDF p. 90 |
| Financing activities | ||
| Interest paidSingapore dollars thousands | (15) | PDF p. 91 |
| Repayment of bank borrowingsSingapore dollars thousands | (15) | PDF p. 91 |
| Repayment of lease liabilitiesSingapore dollars thousands | (1,775) | PDF p. 91 |
| Net cash used in financing activitiesSingapore dollars thousands | (1,805) | PDF p. 91 |
| Net increase/(decrease) in cash and cash equivalentsSingapore dollars thousands | 6,918 | PDF p. 91 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 16,293 | PDF p. 91 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 23,211 | PDF p. 91 |
Original report: PDF p. 90 ↗ PDF p. 91 ↗
Original cashflow retained separately: later FY2024 interest versus lease repayment reclassification or omitted FY2021 below-S$1,000 ESOS marker. Original values unchanged.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / as originally reported | Source |
|---|---|---|
| Operating activities | ||
| (Loss)/Profit before income taxSingapore dollars thousands | (4,126) | PDF p. 70 |
| Adjustments for: | ||
| Amortisation of intangible assetsSingapore dollars thousands | 281 | PDF p. 70 |
| Impairment loss of goodwillSingapore dollars thousands | 1,619 | PDF p. 70 |
| Bad debts written-offSingapore dollars thousands | 2 | PDF p. 70 |
| Bad debts recoveredSingapore dollars thousands | – | PDF p. 70 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 587 | PDF p. 70 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 1,680 | PDF p. 70 |
| Dividend incomeSingapore dollars thousands | (53) | PDF p. 70 |
| Fair value loss arising from quoted financial assets at FVTPLSingapore dollars thousands | 363 | PDF p. 70 |
| Fair value loss/(gain) arising from unquoted financial assets at FVTPLSingapore dollars thousands | 486 | PDF p. 70 |
| Loss/(Gain) on lease modificationSingapore dollars thousands | 5 | PDF p. 70 |
| Loss on disposal of property, plant and equipment, netSingapore dollars thousands | 6 | PDF p. 70 |
| Gain on bargain purchase arising from acquisitionSingapore dollars thousands | (245) | PDF p. 70 |
| Interest expenseSingapore dollars thousands | 116 | PDF p. 70 |
| Interest incomeSingapore dollars thousands | (83) | PDF p. 70 |
| Loss allowance for receivables (trade)Singapore dollars thousands | 85 | PDF p. 70 |
| Property, plant and equipment written-offSingapore dollars thousands | 65 | PDF p. 70 |
| Reversal of provision for warrantiesSingapore dollars thousands | * | PDF p. 70 |
| Share options expenses pursuant to the ESOSSingapore dollars thousands | * | PDF p. 70 |
| Share of losses from equity-accounted for associatesSingapore dollars thousands | 180 | PDF p. 70 |
| Unrealised exchange gainSingapore dollars thousands | (1) | PDF p. 70 |
| Operating cash flows before movements in working capitalSingapore dollars thousands | 967 | PDF p. 70 |
| Changes in working capital: | ||
| InventoriesSingapore dollars thousands | 350 | PDF p. 70 |
| Trade and other receivablesSingapore dollars thousands | 3,547 | PDF p. 70 |
| Trade and other payablesSingapore dollars thousands | (1,046) | PDF p. 70 |
| Contract liabilities from contracts with customersSingapore dollars thousands | 353 | PDF p. 70 |
| Cash generated from operationsSingapore dollars thousands | 4,171 | PDF p. 70 |
| Interest receivedSingapore dollars thousands | 83 | PDF p. 70 |
| Income taxes paidSingapore dollars thousands | (118) | PDF p. 70 |
| Net cash generated from operating activitiesSingapore dollars thousands | 4,136 | PDF p. 70 |
| Investing activities | ||
| Dividend receivedSingapore dollars thousands | 53 | PDF p. 71 |
| Investment in unquoted equity instruments at FVTPLSingapore dollars thousands | (607) | PDF p. 71 |
| Net cash (outflow)/inflow on acquisition of subsidiariesSingapore dollars thousands | (700) | PDF p. 71 |
| Disposal of non-controlling interests in a subsidiarySingapore dollars thousands | 30 | PDF p. 71 |
| Acquisition of non-controlling interests in a subsidiarySingapore dollars thousands | (60) | PDF p. 71 |
| Investment in an associateSingapore dollars thousands | (180) | PDF p. 71 |
| Repayment from an associateSingapore dollars thousands | 804 | PDF p. 71 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 118 | PDF p. 71 |
| Proceed from disposal of investment in unquoted equity instrument at FVTPLSingapore dollars thousands | 12 | PDF p. 71 |
| Purchase of intangible assetSingapore dollars thousands | – | PDF p. 71 |
| Purchase of quoted equity instruments held at FVTPLSingapore dollars thousands | (1,862) | PDF p. 71 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (385) | PDF p. 71 |
| Net cash used in investing activitiesSingapore dollars thousands | (2,777) | PDF p. 71 |
| Dividends paid to: | ||
| Owners of the CompanySingapore dollars thousands | (1,984) | PDF p. 71 |
| Non-controlling interests of subsidiariesSingapore dollars thousands | – | PDF p. 71 |
| Fixed deposit pledgedSingapore dollars thousands | 5 | PDF p. 71 |
| Interest paidSingapore dollars thousands | (29) | PDF p. 71 |
| Non-controlling interests’ investment in a subsidiarySingapore dollars thousands | 180 | PDF p. 71 |
| Purchase of treasury sharesSingapore dollars thousands | (9) | PDF p. 71 |
| Repayment of bank borrowingsSingapore dollars thousands | (30) | PDF p. 71 |
| Repayment of lease liabilitiesSingapore dollars thousands | (1,853) | PDF p. 71 |
| Repayment to directorsSingapore dollars thousands | (454) | PDF p. 71 |
| Net cash used in financing activitiesSingapore dollars thousands | (4,174) | PDF p. 71 |
| Net (decrease)/increase in cash and cash equivalentsSingapore dollars thousands | (2,815) | PDF p. 71 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 27,612 | PDF p. 71 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 24,797 | PDF p. 71 |
Original report: PDF p. 70 ↗ PDF p. 71 ↗
Original cashflow retained separately: later FY2024 interest versus lease repayment reclassification or omitted FY2021 below-S$1,000 ESOS marker. Original values unchanged.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Where the money comes from
| Item / unit | 2025Employment Services Business | 2025Building Management Services Business | 2025Security Services Business | 2025Unallocated | 2025Eliminations | 2025Total | Source |
|---|---|---|---|---|---|---|---|
| 2025 | |||||||
| External salesS$'000 | 13,270 | 38,631 | 22,113 | 46 | – | 74,060 | PDF p. 168 |
| - Service incomeS$'000 | 13,270 | 37,682 | 22,111 | 46 | – | 73,109 | PDF p. 168 |
| - Installation servicesS$'000 | – | 260 | – | – | – | 260 | PDF p. 168 |
| - Sales of goodsS$'000 | – | 689 | 2 | – | – | 691 | PDF p. 168 |
| Inter-segment revenueS$'000 | 104 | 3,369 | 70 | – | (3,543) | – | PDF p. 168 |
| Total revenueS$'000 | 13,374 | 42,000 | 22,183 | 46 | (3,543) | 74,060 | PDF p. 168 |
| Dividend incomeS$'000 | – | – | – | 165 | – | 165 | PDF p. 168 |
| Interest incomeS$'000 | – | 25 | 19 | 142 | – | 186 | PDF p. 168 |
| Interest expenseS$'000 | 18 | 79 | 10 | – | – | 107 | PDF p. 168 |
| AmortisationS$'000 | 56 | 73 | – | – | – | 129 | PDF p. 168 |
| DepreciationS$'000 | 458 | 957 | 483 | – | – | 1,898 | PDF p. 168 |
| Reportable segment profit/(loss) before income taxS$'000 | 803 | (760) | 1,199 | 135 | – | 1,377 | PDF p. 168 |
| Reportable segment assetsS$'000 | 3,477 | 19,834 | 11,776 | 9,746 | – | 44,833 | PDF p. 168 |
| Reportable segment liabilitiesS$'000 | 2,601 | 4,231 | 3,608 | 145 | – | 10,585 | PDF p. 168 |
| Capital expendituresS$'000 | 196 | 1,455 | 300 | – | – | 1,951 | PDF p. 168 |
Segment performance is evaluated based on operating profit or loss. Group financing (including finance expenses) and income taxes are managed on a group basis and are not allocated to operating segments.
Rows 'Loss allowance for receivables (trade), net' (–, (41), –, –, –, (41)), '(Loss)/reversal of loss allowance for receivables (non-trade), net' (–, (426), 121, (17), –, (322)) and 'Share of profit from equity-accounted associate' (18, –, –, –, –, 18) are printed with wrapped labels and are noted here only.
| Item / unit | 2024Employment Services Business | 2024Building Management Services Business | 2024Security Services Business | 2024Unallocated | 2024Eliminations | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| 2024 | |||||||
| External salesS$'000 | 10,737 | 37,091 | 16,639 | – | – | 64,467 | PDF p. 169 |
| - Service incomeS$'000 | 10,737 | 36,532 | 16,546 | – | – | 63,815 | PDF p. 169 |
| - Installation servicesS$'000 | – | 147 | 2 | – | – | 149 | PDF p. 169 |
| - Sales of goodsS$'000 | – | 412 | 91 | – | – | 503 | PDF p. 169 |
| Inter-segment revenueS$'000 | 136 | 2,829 | 299 | – | (3,264) | – | PDF p. 169 |
| Total revenueS$'000 | 10,873 | 39,920 | 16,938 | – | (3,264) | 64,467 | PDF p. 169 |
| Dividend incomeS$'000 | – | – | – | 77 | – | 77 | PDF p. 169 |
| Interest incomeS$'000 | – | 4 | 13 | 246 | – | 263 | PDF p. 169 |
| Interest expenseS$'000 | 15 | 63 | 46 | – | – | 124 | PDF p. 169 |
| AmortisationS$'000 | 43 | 140 | – | – | – | 183 | PDF p. 169 |
| DepreciationS$'000 | 350 | 1,188 | 462 | – | – | 2,000 | PDF p. 169 |
| Reportable segment profit before income taxS$'000 | 121 | 165 | 774 | 289 | – | 1,349 | PDF p. 169 |
| Reportable segment assetsS$'000 | 2,467 | 19,161 | 8,487 | 13,492 | – | 43,607 | PDF p. 169 |
| Reportable segment liabilitiesS$'000 | 2,637 | 4,680 | 2,952 | 84 | – | 10,353 | PDF p. 169 |
| Capital expendituresS$'000 | 220 | 349 | 117 | – | – | 686 | PDF p. 169 |
Comparative year 2024. Wrapped-label rows not tabulated: Loss allowance for receivables (trade), net (–, 23, 207, –, –, 230); Loss allowance for receivables (non-trade), net (–, –, 207, –, –, 207); Share of (losses)/profit from equity accounted associates ((8), 786, –, –, –, 778).
Geographical information: The Group operates in one principal geographical area being Singapore except for Employment Services business in Japan through Fullcast (Note 14). The Group's revenue and non-current assets information based on the geographical location of customers and assets respectively are in Singapore, with no significant concentration of particular customers. No separate geographic figures are printed.
Debt
| Item / unit | 20251 year or less | 20252 to 5 years | 2025Over 5 years | 2025Total | Source |
|---|---|---|---|---|---|
| Undiscounted financial liabilities, as at 31 December 2025 (effective interest rate 1.30 - 5.49%) | |||||
| Lease liabilitiesS$'000 | 1,039 | 1,004 | – | 2,043 | PDF p. 162 |
Effective interest rate range printed as 1.30 - 5.49 (%).
| Item / unit | 20241 year or less | 20242 to 5 years | 2024Over 5 years | 2024Total | Source |
|---|---|---|---|---|---|
| Undiscounted financial liabilities, as at 31 December 2024 (effective interest rate 3.00 - 6.17%) | |||||
| Lease liabilitiesS$'000 | 1,333 | 964 | – | 2,297 | PDF p. 162 |
Effective interest rate range printed as 3.00 - 6.17 (%).
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Lease liabilities | |||
| Lease liabilities – non-currentS$'000 | 978 | 1,080 | PDF p. 143 |
| Lease liabilities – currentS$'000 | 978 | 1,197 | PDF p. 143 |
| At end of financial yearS$'000 | 1,956 | 2,277 | PDF p. 143 |
Lease liabilities are denominated in Singapore dollar.
The maturity analysis of lease liabilities is disclosed in Note 29.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company currently does not have a formal dividend policy. The form, frequency and amount of dividends will depend on the Group’s earnings, financial position, capital needs, plans for future growth, working capital and other factors as the Board may deem appropriate. No dividend has been declared or recommended for FY2025 in view of the current economic uncertainties. | FY2025 | PDF p. 65 |
| Ordinary Resolution 8 | Ordinary Resolution 8, if passed, will empower the Directors, to allot and issue ordinary Shares pursuant to the Advancer Global Limited Scrip Dividend Scheme (“Scheme”) should the Company decide to apply the Scheme to any dividend declared by the Company from the date of this Annual General Meeting until the date of the next annual general meeting of the Company. | AGM notice 2026 | PDF p. 179 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| (3) No dividends were declared or recommended for FY2024 and FY2025. | No dividends were declared or recommended for FY2024 and FY2025. | FY2025 and FY2024 (comparative) | PDF p. 8 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend payout ratio | - | FY2025 and FY2024 | PDF p. 8 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | FORVIS MAZARS LLP | Group and Company, FY2025 | PDF p. 87 |
| Engagement partner | Chen Ningxin, Narissa | Group and Company, FY2025 | PDF p. 87 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) | Group and Company, FY2025 · As at 2025-12-31 | PDF p. 84 |
Extracted from Annual Report 2025 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 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Five financial years ended 31 December 2021–2025. Monetary amounts are Singapore dollars thousands; EPS is Singapore cents per share. Separate Company income/cash-flow statements are not supplied; Group consolidated income/cash flows and Group/Company financial position and equity are retained.
Printed asterisks denote amounts below S$1,000 and are preserved as original precision bounds, not exact zero. Original primary statements and later comparative changes are retained without balancing edits.
FY2025 ended31December2025. Forvis Mazars LLP issued an unmodified true-and-fair opinion at physical84; engagement partner Chen Ningxin, Narissa signed7April2026 at physical87. Impairment assessment on goodwill is the KAM, not an audit-opinion modification.
Audited primary monetary figures are S$thousands; EPS is Singapore cents. Group consolidated income/cashflows and Group/Company balance sheets/equity are supplied. Separate Company income/cashflow statements are not supplied. Unaudited preliminary and June2026 results are separately dated and do not replace the audited annual series.
Asterisks denote amounts below S$1,000; the7 displayed primary bound markers are not exact zeros. FY2021 original cashflow separately included a below-S$1,000 ESOS expense omitted from the next annual comparative. Both original and later printed cashflows are retained without inventing a balancing amount.
FY2024 cashflow financing is reclassified in FY2025 comparison: interest paid15→124 and lease repayments1,775→1,666 in S$thousands. Their combined1,790 is unchanged; total financing1,805 and cash increase6,918 are unchanged. Original FY2024 cashflow is retained separately. No separate business explanation for the classification change is invented.
FY2022 Company equity captions the106 share-options reserve transfer as forfeited in its original annual, whereas the next comparative calls it expired. The original amount and total equity are unchanged; the caption difference is retained.
FY2025 cash and bank balances21,211 less pledged fixed deposits1,400 equals cashflow cash19,811, all S$thousands, explicitly reconciled in Note22. The difference is not a missing cashflow or an invented adjustment.
Annual Board has seven directors. Gary Chin Mei Yang is CEO/Executive Director; Danny Lim Teck Chai is Independent Non-Executive Chairman. Kelvin Tong is CFO and Joint Company Secretary, one person with two roles. Francis Chin is Head of Employment Services, not an issuer Board director.
17April2024 secretary notice replaced Koo Wei Jia with CFO Kelvin Tong Wee Chiang jointly with Sin Chee Mei. April2026 AGM re-elected Ong Eng Tiang, Danny Lim and Lim Chong Huat; it did not newly appoint these directors. Annual and subsequent events remain separately dated.
Note13 contains20 named subsidiaries:18 current and two struck off in2025. Equity columns are effective issuer interests2025/2024. Advancer Global Manpower and Advancer Global Security are dormant holding entities per footnote. All subsidiaries are incorporated and operating in Singapore as explicitly stated; no countries or intermediate ownership percentages are inferred from names.
First Stewards was struck off15June2025; SRE Property & Facility was struck off29May2025. Their current dashes and prior100%/82% are retained as former entities. SREP derecognition generated137S$thousand gain; no current82% interest is inferred from the prior-year column.
SRE Global remaining18% was acquired23April2025 for S$390,000, taking issuer interest82%→100% without a change of control. Its subsidiaries and the separately struck-off SREP are not silently assigned new current interests.
BattPro was incorporated16June2025 at90%; after a capital increase its interest became65%. Audited annual gives25September2025 for that increase, whereas preliminary results gives30September2025. AST capital increase similarly prints4November in the annual versus5November in preliminary results. Original date differences are retained; year-end65% BattPro and85% AST are unchanged.
AGS Integration former70% stake was sold for S$1 nominal share consideration; S$2,500,000 separately settles loan and other receivables. Annual Note13 prints31July2024 share-transfer completion; original completion notice says2August2024 after1August second payment. These dates disagree and are both retained. Final S$500,000 received30June2026 brings total settlement receipts to S$2,500,000; no current subsidiary or new share-sale proceeds are invented.
Fullcast International is a49% Japan associate held through Advancer Global Manpower. It is distinct from substantial shareholder Fullcast Holdings. Former45% Eazable was disposed1February2024 for S$5,354; G3 associate disposal completed13November2024. The G3 entire100% sale refers to all sellers combined, not a100% issuer ownership claim.
Zhe Jiang Zhi Wu Hui Yun Technology is a China unquoted financial asset at FVTPL held15% by85%-owned AST. The15% is not asserted as direct issuer ownership or a consolidated subsidiary. Annual carrying value30S$thousand rises to77S$thousand at30June2026 after47S$thousand fair-value reversal, separately dated.
Annual shareholder register is23March2026, not financial year-end:252,363,591 total shares less1,177,900 treasury equals251,185,691 shares excluding treasury;419 holders, no subsidiary holdings. Registered nominee accounts do not identify unknown beneficial owners.
Top20 printed total233,667,443 differs from the20 original rows totaling233,669,343 by1,900 shares. Printed aggregate93.03% agrees with rounded aggregate, whereas sum of rounded row percentages is93.04%. Every printed row and printed total is preserved, and the discrepancy is disclosed rather than repaired.
Register paid-up capital S$41,919,249 including treasury differs from audited Note23 share capital40,607S$thousand. Register excludes treasury capital to S$41,678,075; the difference241,174 is the exact register deduction. The annual does not explain the capital-amount difference; no unsupported issue, conversion or accounting adjustment is inferred.
Eight substantial-holder rows retain direct/deemed columns and251,185,691 non-treasury denominator. Fullcast65million direct and Hirano Associates/Takehito Hirano each65million deemed are overlapping interests, not195million separate shares. Hirano and family hold100% of Hirano Associates; his personal18.04% and its36.35% Fullcast interest are separately stated. Mohamed Abdul Jaleel has1,502,500 direct plus12,500,000 deemed through wholly-owned MES Group. Public float15.80% is the issuer statement.
Annual subsequent event:26February2026 AIFM agreed bank hire purchase of five vehicles, approximately S$436,000 over60months at2.28%. This financing after year-end is distinct from up-to20-vehicle S$624,000 capital commitment and does not create a new subsidiary.
Original cashflow retained separately: later FY2024 interest versus lease repayment reclassification or omitted FY2021 below-S$1,000 ESOS marker. Original values unchanged.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.