HS Optimus 504
Financials
Annual Report 2026
Explore the statements
12 tablesConsolidated Statement of Comprehensive Income (Group), FY ended 31 March 2026
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026 | 2025Group, FY ended 31 March 2025 | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$ | 13,551,029 | 14,443,619 | PDF p. 72 |
| Cost of sales$ | (10,961,767) | (11,213,056) | PDF p. 72 |
| Gross profit$ | 2,589,262 | 3,230,563 | PDF p. 72 |
| Other income$ | 6,438,463 | 2,362,032 | PDF p. 72 |
| Selling and distribution expenses$ | (427,761) | (418,646) | PDF p. 72 |
| Administrative expenses$ | (5,700,224) | (7,340,835) | PDF p. 72 |
| Finance costs$ | (355,115) | (110,814) | PDF p. 72 |
| Profit/(loss) before tax$ | 2,544,625 | (2,277,700) | PDF p. 72 |
| Income tax credit/(expense)$ | 13,764 | (305,739) | PDF p. 72 |
| Profit/(loss) for the financial year$ | 2,558,389 | (2,583,439) | PDF p. 72 |
| Other comprehensive income: Currency translation | |||
| - (Loss)/gain$ | (1,052,713) | 259,457 | PDF p. 72 |
| - Loss from recycling of foreign currency translation reserve on liquidation of a foreign subsidiary$ | – | (1,918,475) | PDF p. 72 |
| Other comprehensive income | |||
| Other comprehensive income for the financial year, net of tax$ | (1,052,713) | (1,659,018) | PDF p. 72 |
| Total comprehensive income for the financial year$ | 1,505,676 | (4,242,457) | PDF p. 72 |
| Profit/(loss) for the financial year attributable to | |||
| Owners of the Company$ | 2,749,075 | (2,614,353) | PDF p. 72 |
| Non-controlling interests$ | (190,686) | 30,914 | PDF p. 72 |
| Subtotal$ | 2,558,389 | (2,583,439) | PDF p. 72 |
| Total comprehensive income attributable to | |||
| Owners of the Company$ | 2,260,270 | (3,769,805) | PDF p. 72 |
| Non-controlling interests$ | (754,594) | (472,652) | PDF p. 72 |
| Subtotal$ | 1,505,676 | (4,242,457) | PDF p. 72 |
| Profit/(loss) per share attributable to equity owners of the Company | |||
| - Basiccents per share | 0.051 | (0.049) | PDF p. 72 |
| - Dilutedcents per share | 0.051 | (0.049) | PDF p. 72 |
Definitions & sources
Original report: PDF p. 72 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Note column references omitted from values.
Statements of Financial Position - Group, as at 31 March 2026
32 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, as at 31 March 2026 | 2025Group, as at 31 March 2025 | Source |
|---|---|---|---|
| ASSETS - Non-current assets | |||
| Property, plant and equipment$ | 5,543,063 | 5,298,747 | PDF p. 73 |
| Right-of-use assets$ | 1,724,736 | 3,567,151 | PDF p. 73 |
| Investment in subsidiaries$ | – | – | PDF p. 73 |
| Investment property$ | – | 11,245,672 | PDF p. 73 |
| Financial asset at fair value through profit or loss$ | 126 | 84 | PDF p. 73 |
| Subtotal$ | 7,267,925 | 20,111,654 | PDF p. 73 |
| ASSETS - Current assets | |||
| Development properties$ | 24,909,149 | 26,946,787 | PDF p. 73 |
| Investment in financial asset$ | – | 837,000 | PDF p. 73 |
| Trade and other receivables$ | 4,615,449 | 7,051,251 | PDF p. 73 |
| Income tax recoverable$ | 53,302 | – | PDF p. 73 |
| Inventories$ | 4,145,414 | 5,619,953 | PDF p. 73 |
| Cash and cash equivalents$ | 20,019,865 | 2,929,460 | PDF p. 73 |
| Subtotal$ | 53,743,179 | 43,384,451 | PDF p. 73 |
| ASSETS | |||
| Total assets$ | 61,011,104 | 63,496,105 | PDF p. 73 |
| EQUITY AND LIABILITIES - Current liabilities | |||
| Trade and other payables$ | 3,062,258 | 4,783,223 | PDF p. 73 |
| Contract liabilities$ | 5,500 | 92,325 | PDF p. 73 |
| Loans and borrowings$ | 611,130 | 2,949,661 | PDF p. 73 |
| Income tax payable$ | – | 293,706 | PDF p. 73 |
| Subtotal$ | 3,678,888 | 8,118,915 | PDF p. 73 |
| EQUITY AND LIABILITIES | |||
| Net current assets$ | 50,064,291 | 35,265,536 | PDF p. 73 |
| EQUITY AND LIABILITIES - Non-current liabilities | |||
| Loans and borrowings$ | 471,068 | 17,906 | PDF p. 73 |
| Deferred tax liabilities$ | 1,112,178 | 1,115,990 | PDF p. 73 |
| Subtotal$ | 1,583,246 | 1,133,896 | PDF p. 73 |
| EQUITY AND LIABILITIES | |||
| Total liabilities$ | 5,262,134 | 9,252,811 | PDF p. 73 |
| Net assets$ | 55,748,970 | 54,243,294 | PDF p. 73 |
| Equity attributable to owners of the Company | |||
| Share capital$ | 103,170,633 | 103,170,633 | PDF p. 73 |
| Foreign currency translation reserve$ | (11,469,696) | (10,980,891) | PDF p. 73 |
| Accumulated losses$ | (42,635,218) | (45,384,293) | PDF p. 73 |
| Subtotal$ | 49,065,719 | 46,805,449 | PDF p. 73 |
| Equity | |||
| Non-controlling interests$ | 6,683,251 | 7,437,845 | PDF p. 73 |
| Total equity$ | 55,748,970 | 54,243,294 | PDF p. 73 |
| EQUITY AND LIABILITIES | |||
| Total equity and liabilities$ | 61,011,104 | 63,496,105 | PDF p. 73 |
Definitions & sources
Original report: PDF p. 73 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Group columns only; Company columns are in the separate table. Row quotes are whole printed rows including Company columns.
Statements of Financial Position - Company, as at 31 March 2026
32 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company, as at 31 March 2026 | 2025Company, as at 31 March 2025 | Source |
|---|---|---|---|
| ASSETS - Non-current assets | |||
| Property, plant and equipment$ | 85,397 | 94,956 | PDF p. 73 |
| Right-of-use assets$ | 99,143 | 1,989,373 | PDF p. 73 |
| Investment in subsidiaries$ | 28,852,768 | 35,444,128 | PDF p. 73 |
| Investment property$ | – | – | PDF p. 73 |
| Financial asset at fair value through profit or loss$ | – | – | PDF p. 73 |
| Subtotal$ | 29,037,308 | 37,528,457 | PDF p. 73 |
| ASSETS - Current assets | |||
| Development properties$ | – | – | PDF p. 73 |
| Investment in financial asset$ | – | – | PDF p. 73 |
| Trade and other receivables$ | 22,620,161 | 23,176,785 | PDF p. 73 |
| Income tax recoverable$ | – | – | PDF p. 73 |
| Inventories$ | – | – | PDF p. 73 |
| Cash and cash equivalents$ | 459,650 | 306,999 | PDF p. 73 |
| Subtotal$ | 23,079,811 | 23,483,784 | PDF p. 73 |
| ASSETS | |||
| Total assets$ | 52,117,119 | 61,012,241 | PDF p. 73 |
| EQUITY AND LIABILITIES - Current liabilities | |||
| Trade and other payables$ | 1,290,881 | 1,170,357 | PDF p. 73 |
| Contract liabilities$ | – | – | PDF p. 73 |
| Loans and borrowings$ | 37,417 | 1,400,000 | PDF p. 73 |
| Income tax payable$ | – | – | PDF p. 73 |
| Subtotal$ | 1,328,298 | 2,570,357 | PDF p. 73 |
| EQUITY AND LIABILITIES | |||
| Net current assets$ | 21,751,513 | 20,913,427 | PDF p. 73 |
| EQUITY AND LIABILITIES - Non-current liabilities | |||
| Loans and borrowings$ | 62,589 | – | PDF p. 73 |
| Deferred tax liabilities$ | – | – | PDF p. 73 |
| Subtotal$ | 62,589 | – | PDF p. 73 |
| EQUITY AND LIABILITIES | |||
| Total liabilities$ | 1,390,887 | 2,570,357 | PDF p. 73 |
| Net assets$ | 50,726,232 | 58,441,884 | PDF p. 73 |
| Equity attributable to owners of the Company | |||
| Share capital$ | 103,170,633 | 103,170,633 | PDF p. 73 |
| Foreign currency translation reserve$ | – | – | PDF p. 73 |
| Accumulated losses$ | (52,444,401) | (44,728,749) | PDF p. 73 |
| Subtotal$ | 50,726,232 | 58,441,884 | PDF p. 73 |
| Equity | |||
| Non-controlling interests$ | – | – | PDF p. 73 |
| Total equity$ | 50,726,232 | 58,441,884 | PDF p. 73 |
| EQUITY AND LIABILITIES | |||
| Total equity and liabilities$ | 52,117,119 | 61,012,241 | PDF p. 73 |
Definitions & sources
Original report: PDF p. 73 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Company columns only; row quotes are whole printed rows including Group columns.
Consolidated Statement of Comprehensive Income (Group)
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026, $ | 2025Group, FY ended 31 March 2025, $ | Source |
|---|---|---|---|
| Income statement | |||
| Profit/(loss) for the financial year$ | 2,558,389 | (2,583,439) | PDF p. 72 |
| Other comprehensive income - Currency translation | |||
| - (Loss)/gain$ | (1,052,713) | 259,457 | PDF p. 72 |
| - Loss from recycling of foreign currency translation reserve on liquidation of a foreign subsidiary$ | – | (1,918,475) | PDF p. 72 |
| Other comprehensive income | |||
| Other comprehensive income for the financial year, net of tax$ | (1,052,713) | (1,659,018) | PDF p. 72 |
| Total comprehensive income | |||
| Total comprehensive income for the financial year$ | 1,505,676 | (4,242,457) | PDF p. 72 |
| Profit/(loss) for the financial year attributable to | |||
| Owners of the Company$ | 2,749,075 | (2,614,353) | PDF p. 72 |
| Non-controlling interests$ | (190,686) | 30,914 | PDF p. 72 |
| Total comprehensive income attributable to | |||
| Owners of the Company$ | 2,260,270 | (3,769,805) | PDF p. 72 |
| Non-controlling interests$ | (754,594) | (472,652) | PDF p. 72 |
Definitions & sources
Original report: PDF p. 72 ↗
Statement starts with Revenue, Cost of sales, etc. (not requested in this stage). Item that may be reclassified subsequently to profit or loss: currency translation.
Group Statement of Changes in Equity - 2026
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, Share capital (Note 23), $ | 2026Group, Foreign currency translation reserve (Note 27), $ | 2026Group, Accumulated losses, $ | 2026Group, Equity attributable to owners of the Company, $ | 2026Group, Non-controlling interests, $ | 2026Group, Total, $ | Source |
|---|---|---|---|---|---|---|---|
| Group 2026 | |||||||
| Opening balance at 1 April 2025$ | 103,170,633 | (10,980,891) | (45,384,293) | 46,805,449 | 7,437,845 | 54,243,294 | PDF p. 74 |
| Profit/(loss) for the financial year$ | – | – | 2,749,075 | 2,749,075 | (190,686) | 2,558,389 | PDF p. 74 |
| Group 2026 - Other comprehensive income: Exchange differences on translation of | |||||||
| foreign operations$ | – | (488,805) | – | (488,805) | (563,908) | (1,052,713) | PDF p. 74 |
| Group 2026 | |||||||
| Total comprehensive income for the$ | – | (488,805) | 2,749,075 | 2,260,270 | (754,594) | 1,505,676 | PDF p. 74 |
| Closing balance at 31 March 2026$ | 103,170,633 | (11,469,696) | (42,635,218) | 49,065,719 | 6,683,251 | 55,748,970 | PDF p. 74 |
Definitions & sources
Original report: PDF p. 74 ↗
Other comprehensive income for the financial year, net of tax row: – (488,805) – (488,805) (563,908) (1,052,713). Row labels wrap across lines in source.
Group Statement of Changes in Equity - 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital (Note 23), $ | 2025Group, Foreign currency translation reserve (Note 27), $ | 2025Group, Accumulated losses, $ | 2025Group, Equity attributable to owners of the Company, $ | 2025Group, Non-controlling interests, $ | 2025Group, Total, $ | Source |
|---|---|---|---|---|---|---|---|
| Group 2025 | |||||||
| Opening balance at 1 April 2024$ | 103,170,633 | (9,825,439) | (42,769,940) | 50,575,254 | 7,910,497 | 58,485,751 | PDF p. 74 |
| (Loss)/profit for the financial year$ | – | – | (2,614,353) | (2,614,353) | 30,914 | (2,583,439) | PDF p. 74 |
| Group 2025 - Other comprehensive income: Exchange differences on translation of | |||||||
| foreign operations$ | – | (1,155,452) | – | (1,155,452) | (503,566) | (1,659,018) | PDF p. 74 |
| Group 2025 | |||||||
| Total comprehensive income for the$ | – | (1,155,452) | (2,614,353) | (3,769,805) | (472,652) | (4,242,457) | PDF p. 74 |
| Closing balance at 31 March 2025$ | 103,170,633 | (10,980,891) | (45,384,293) | 46,805,449 | 7,437,845 | 54,243,294 | PDF p. 74 |
Definitions & sources
Original report: PDF p. 74 ↗
Other comprehensive income for the financial year, net of tax: – (1,155,452) – (1,155,452) (503,566) (1,659,018).
Company Statement of Changes in Equity
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company 2026, Share capital (Note 23), $ | 2026Company 2026, Accumulated losses, $ | 2026Company 2026, Total, $ | Source |
|---|---|---|---|---|
| Company 2026 | ||||
| Opening balance at 1 April 2025$ | 103,170,633 | (44,728,749) | 58,441,884 | PDF p. 75 |
| Loss for the financial year, representing total$ | – | (7,715,652) | (7,715,652) | PDF p. 75 |
| Closing balance at 31 March 2026$ | 103,170,633 | (52,444,401) | 50,726,232 | PDF p. 75 |
| Company 2025 | ||||
| Opening balance at 1 April 2024$ | 103,170,633 | (42,044,328) | 61,126,305 | PDF p. 75 |
| Loss for the financial year, representing total$ | – | (2,684,421) | (2,684,421) | PDF p. 75 |
| Closing balance at 31 March 2025$ | 103,170,633 | (44,728,749) | 58,441,884 | PDF p. 75 |
Definitions & sources
Original report: PDF p. 75 ↗
Rows for 2025 comparative carry the same three columns (Share capital, Accumulated losses, Total) for year 2025; the column list year labels reflect the 2026 block, with the 2025 block identified by the section field.
Consolidated Statement of Cash Flows (part 1: operating and investing)
30 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026, $ | 2025Group, FY ended 31 March 2025, $ | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit/(loss) before tax$ | 2,544,625 | (2,277,700) | PDF p. 76 |
| Adjustments for | |||
| Allowance for inventory obsolescence$ | 37,414 | 152,109 | PDF p. 76 |
| Depreciation of property, plant and equipment$ | 607,395 | 608,810 | PDF p. 76 |
| Depreciation of right-of-use-assets$ | 98,406 | 93,589 | PDF p. 76 |
| Depreciation of investment property$ | 193,805 | 511,414 | PDF p. 76 |
| Fair value gain on financial asset at fair value through profit or loss$ | (42) | (29) | PDF p. 76 |
| Gain on deregistration of subsidiary$ | – | (1,918,475) | PDF p. 76 |
| Gain on disposal of property held-for-sale$ | (5,567,350) | – | PDF p. 76 |
| Gain on disposal of property, plant and equipment$ | – | (1,337) | PDF p. 76 |
| Gain on disposal of right-of-use assets$ | (556,354) | – | PDF p. 76 |
| Impairment loss/(reversal of impairment loss) on development properties$ | 469,140 | (140,968) | PDF p. 76 |
| Interest expense$ | 355,115 | 110,814 | PDF p. 76 |
| Interest income$ | (188,716) | (125,267) | PDF p. 76 |
| Provision for expected credit loss of trade receivables$ | 276,553 | – | PDF p. 76 |
| Provision for expected credit loss on other receivables$ | 21,914 | – | PDF p. 76 |
| Unrealised foreign exchange differences$ | 631,941 | 1,871,552 | PDF p. 76 |
| Cash flows from operating activities | |||
| Operating cash flows before changes in working capital$ | (1,076,154) | (1,115,488) | PDF p. 76 |
| Changes in working capital | |||
| Increase in development properties$ | (12,519) | – | PDF p. 76 |
| Decrease/(increase) in inventories$ | 1,437,125 | (879,454) | PDF p. 76 |
| Decrease/(increase) in trade and other receivables$ | 2,081,517 | (1,726,292) | PDF p. 76 |
| (Decrease)/increase in trade and other payables$ | (1,674,044) | 531,203 | PDF p. 76 |
| Cash flows from operating activities | |||
| Cash generated from/ (used in) operations$ | 755,925 | (3,190,031) | PDF p. 76 |
| Interest income received$ | 188,716 | 125,267 | PDF p. 76 |
| Income tax paid, net$ | (434,502) | (258,383) | PDF p. 76 |
| Net cash generated from/(used in) operating activities$ | 510,139 | (3,323,147) | PDF p. 76 |
| Cash flows from investing activities | |||
| Proceeds from disposal on property held-for-sale$ | 16,807,316 | – | PDF p. 76 |
| Proceeds from disposal of right-of-use assets$ | 2,520,888 | – | PDF p. 76 |
| Purchase of property, plant and equipment$ | (129,570) | (3,029) | PDF p. 76 |
| Redemption/(purchase) of financial asset$ | 837,000 | (837,000) | PDF p. 76 |
| Net cash generated from/(used in) investing activities$ | 20,035,634 | (840,029) | PDF p. 76 |
Definitions & sources
Original report: PDF p. 76 ↗
Note column references omitted from values.
Consolidated Statement of Cash Flows (part 2: financing, closing cash, Note A)
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026, $ | 2025Group, FY ended 31 March 2025, $ | Source |
|---|---|---|---|
| Cash flows from financing activities | |||
| Proceeds from loans and borrowings$ | 9,087,353 | 5,342,003 | PDF p. 77 |
| Repayment of loans and borrowings$ | (11,444,952) | (3,153,427) | PDF p. 77 |
| Loan from non-controlling interest$ | 27,766 | 13,888 | PDF p. 77 |
| Interest paid$ | (355,115) | (110,814) | PDF p. 77 |
| Payment of principal portion of lease liabilities$ | (107,031) | (30,861) | PDF p. 77 |
| Net cash flows (used in)/generated from financing activities$ | (2,791,979) | 2,060,789 | PDF p. 77 |
| Net change in cash | |||
| Net increase/(decrease) in cash and cash equivalents$ | 17,753,794 | (2,102,387) | PDF p. 77 |
| Cash and cash equivalents at 1 April$ | 2,932,190 | 5,187,296 | PDF p. 77 |
| Effect of exchange rate fluctuations on cash and cash equivalents$ | (666,119) | (152,719) | PDF p. 77 |
| Cash and cash equivalents at 31 March$ | 20,019,865 | 2,932,190 | PDF p. 77 |
| Note A | |||
| Cash and bank balances$ | 6,505,143 | 1,619,700 | PDF p. 77 |
| Fixed deposits$ | 13,514,722 | 1,309,760 | PDF p. 77 |
| Note A - Cash and cash equivalents | |||
| - Continuing operations$ | 20,019,865 | 2,929,460 | PDF p. 77 |
| - Disposal group assets classified as held-for-sale$ | – | 2,730 | PDF p. 77 |
Definitions & sources
Original report: PDF p. 77 ↗
Note A: for the purpose of the consolidated statement of cash flows, the consolidated cash and cash equivalents comprise the following. Cash and cash equivalents as per consolidated statement of financial position (Note 20): 20,019,865 / 2,929,460; as per consolidated statement of cash flows: 20,019,865 / 2,932,190.
Financial Highlights (five years)
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY2026 (year ended 31 March 2026) | 2025Group, FY2025 | 2024Group, FY2024 | 2023Group, FY2023 | 2022Group, FY2022 | Source |
|---|---|---|---|---|---|---|
| Financial Highlights | ||||||
| Revenue ($’000)$’000 | 13,551 | 14,444 | 15,305 | 10,844 | 15,434 | PDF p. 11 |
| Profit/(Loss) after tax ($’000)$’000 | 2,558 | (2,583) | (1,948) | (7,499) | (1,996) | PDF p. 11 |
| Shareholders’ equity ($’000)$’000 | 49,066 | 46,805 | 50,575 | 54,192 | 62,442 | PDF p. 11 |
| Earnings/(Loss) per share (cents)cents | 0.051 | (0.049) | (0.038) | (0.138) | (0.033) | PDF p. 11 |
| Net asset value per share (cents)cents | 0.91 | 0.87 | 0.94 | 1.01 | 1.16 | PDF p. 11 |
Definitions & sources
Original report: PDF p. 11 ↗
No printed footnotes. Page also has 'FIVE YEARS COMPARISON' bar charts (see separate table).
Economic performance financial highlights (Sustainability Report)
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FYE26 | 2025Group, FYE25 | Source |
|---|---|---|---|
| Economic Performance | |||
| Revenue ($’000)$’000 | 13,551 | 14,444 | PDF p. 46 |
| Profit/(Loss) after tax ($’000)$’000 | 2,558 | (2,583) | PDF p. 46 |
| Shareholders’ equity ($’000)$’000 | 49,066 | 46,805 | PDF p. 46 |
| Net Asset Value per Share (“NAV”)cents | 0.91 | 0.87 | PDF p. 46 |
| Share price (S$)S$ | 0.004 | 0.002 | PDF p. 46 |
| Market capitalisation ($’000)$’000 | 21,522 | 10,761 | PDF p. 46 |
Definitions & sources
Original report: PDF p. 46 ↗
NAV per share unit '(cents)' is on the wrapped line of the label.
Note 10 Profit/(loss) per share
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, year ended 31 March 2026 | 2025Group, year ended 31 March 2025 | Source |
|---|---|---|---|
| Note 10 | |||
| Net profit/(loss) for the year attributable to equity owners of the Company$ | 2,749,075 | (2,614,353) | PDF p. 94 |
| Weighted average number of ordinary shares for basic earnings per share computationshares | 5,380,556,316 | 5,380,556,316 | PDF p. 94 |
| Note 10 Profit/(loss) per share (cents per share) | |||
| - Basiccents per share | 0.051 | (0.049) | PDF p. 94 |
| - Dilutedcents per share | 0.051 | (0.049) | PDF p. 94 |
Definitions & sources
Original report: PDF p. 94 ↗
Diluted: the Company does not have any outstanding dilutive instruments as at 31 March 2026 and 2025. Basic EPS = profit attributable to owners divided by weighted average ordinary shares outstanding.
Where the money comes from
Segment information
By business
Segment information by business segment, 31 March 20 lines
| Item / unit | 2026Investment segment | 2026Door business segment | 2026Property business segment | 2026Total | 2025Investment segment | 2025Door business segment | 2025Property business segment | 2025Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Segment revenue | |||||||||
| Sales - external$ | – | 13,551,029 | – | 13,551,029 | PDF p. 127 | ||||
| Results | |||||||||
| Segment loss$ | (2,133,068) | (601,090) | (804,565) | (3,538,723) | PDF p. 127 | ||||
| Assets | |||||||||
| Segment and consolidated total assets$ | 695,706 | 17,034,222 | 43,281,176 | 61,011,104 | 2,431,800 | 19,085,258 | 41,979,047 | 63,496,105 | PDF p. 127PDF p. 128 |
| Liabilities | |||||||||
| Segment liabilities$ | 178,533 | 1,096,566 | 1,792,659 | 3,067,758 | 164,985 | 1,832,397 | 2,878,166 | 4,875,548 | PDF p. 127PDF p. 128 |
| Borrowings$ | – | 982,192 | 100,006 | 1,082,198 | 1,400,000 | 1,567,567 | – | 2,967,567 | PDF p. 127PDF p. 128 |
| Deferred tax liabilities$ | – | 1,112,178 | – | 1,112,178 | – | 1,115,990 | – | 1,115,990 | PDF p. 127PDF p. 128 |
| Consolidated total liabilities$ | 178,533 | 3,190,936 | 1,892,665 | 5,262,134 | 1,564,985 | 4,809,660 | 2,878,166 | 9,252,811 | PDF p. 127PDF p. 128 |
| Other segment items | |||||||||
| Allowance for inventory obsolescence$ | – | 37,414 | – | 37,414 | – | 152,109 | – | 152,109 | PDF p. 127PDF p. 128 |
| Depreciation of investment property$ | – | – | 193,805 | 193,805 | – | – | 511,414 | 511,414 | PDF p. 127PDF p. 128 |
| Depreciation of property, plant and equipment$ | 11,991 | 595,404 | – | 607,395 | 13,147 | 595,586 | 77 | 608,810 | PDF p. 127PDF p. 128 |
| Depreciation of right-of-use assets$ | 40,830 | 57,576 | – | 98,406 | 39,920 | 53,669 | – | 93,589 | PDF p. 127PDF p. 128 |
| Gain on disposal of property held-for-sale$ | – | – | (5,567,350) | (5,567,350) | PDF p. 127 | ||||
| Gain on disposal of right-of-use assets$ | (556,354) | – | – | (556,354) | PDF p. 127 | ||||
| Impairment loss on development properties$ | – | – | 469,140 | 469,140 | PDF p. 127 | ||||
| Provision for expected credit loss of trade receivables$ | – | 276,553 | – | 276,553 | PDF p. 127 | ||||
| Provision for expected credit loss of other receivables$ | – | 21,914 | – | 21,914 | PDF p. 127 | ||||
| Results | |||||||||
| Segment (loss)/profit$ | (2,059,939) | 585,461 | (3,054,440) | (4,528,918) | PDF p. 128 | ||||
| Liabilities | |||||||||
| Income tax payable$ | – | 293,706 | – | 293,706 | PDF p. 128 | ||||
| Other segment items | |||||||||
| Gain on deregistration of subsidiary$ | – | (1,918,475) | – | (1,918,475) | PDF p. 128 | ||||
| Reversal of impairment loss on development$ | – | – | (140,968) | (140,968) | PDF p. 128 | ||||
Notes
Amounts in $ (Singapore dollars) as printed. Segment assets consist of PPE, investment property, FVTPL financial assets, development properties, property held-for-sale, prepayments, trade and other receivables, inventories, disposal group assets held-for-sale, and cash. Segment liabilities exclude income tax payable, deferred tax liabilities and borrowings. Capital expenditure comprises additions to PPE (Note 11) and right-of-use assets (Note 26); no capital expenditure line is printed. Other income, finance costs, profit before tax, income tax credit and profit are shown only in the Total column.
Amounts in $ as printed. Sales - external row prints only three values (Investment is dash, Property blank); the Door and Total values are 14,443,619 each, Investment/Property cells not printed distinctly. Other income, finance costs, loss before tax, income tax expense and loss shown only in Total column.
Major customers revenue by attributable segment 5 lines
| Item / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Major customers | |||
| Customer 1$ | 5,525,492 | 6,138,774 | PDF p. 129 |
| Customer 2$ | – | 1,359,149 | PDF p. 129 |
| Customer 3$ | 968,308 | 670,909 | PDF p. 129 |
| Customer 4$ | 6,219,950 | 5,803,248 | PDF p. 129 |
| Total$ | 12,713,750 | 13,972,080 | PDF p. 129 |
Notes
Amounts in $. Revenue of approximately $12,713,750 (2025: $13,972,080) derived from 2 (2025: 2) external customers who individually contributed 10% or more of Group revenue. Customer 2 and 3 rows as printed.
By geography
Geographical information: revenue and non-current assets 7 lines
| Item / unit | 2026Group Revenue | 2025Group Revenue | 2026Group Non-current assets | 2025Group Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$ | 367,540 | 120,256 | 182,022 | 2,082,109 | PDF p. 129 |
| Malaysia$ | 325 | – | 7,085,777 | 6,783,789 | PDF p. 129 |
| Australia$ | – | – | – | 11,245,672 | PDF p. 129 |
| Brunei$ | 773 | – | – | – | PDF p. 129 |
| United Kingdom$ | 12,214,083 | 13,652,454 | – | – | PDF p. 129 |
| Ireland$ | 968,308 | 670,909 | – | – | PDF p. 129 |
| Total$ | 13,551,029 | 14,443,619 | 7,267,799 | 20,111,570 | PDF p. 129 |
Notes
Amounts in $. Revenue based on location of customers; non-current assets based on location of assets. Non-current assets presented above excludes financial assets at fair value through profit or loss.
Debt
Borrowings
Note 30(d) Group 2026 contractual undiscounted maturity - borrowings and leases
| Item / unit | 2026One year or less | 2026More than one to five years | 2026Total | Source |
|---|---|---|---|---|
| Interest bearing borrowings | ||||
| - Foreign currency loan against import (floating rates)$ | 509,611 | – | 509,611 | PDF p. 122 |
| Financial liabilities | ||||
| Lease liabilities$ | 188,075 | 473,137 | 661,212 | PDF p. 122 |
Notes
Based on contractual undiscounted repayment obligations. No 'after five years' column printed.
Note 30(d) Group 2025 contractual undiscounted maturity - borrowings and leases
| Item / unit | 2025One year or less | 2025More than one to five years | 2025Total | Source |
|---|---|---|---|---|
| Interest bearing borrowings | ||||
| - Banker‘s acceptance (floating rates)$ | 43,296 | – | 43,296 | PDF p. 123 |
| - Bank overdraft (floating rates)$ | 119,037 | – | 119,037 | PDF p. 123 |
| - Foreign currency loan against import (floating rates)$ | 1,471,770 | – | 1,471,770 | PDF p. 123 |
| - Revolving credit facility (floating rates)$ | 1,453,760 | – | 1,453,760 | PDF p. 123 |
| Financial liabilities | ||||
| Lease liabilities$ | 10,995 | 20,256 | 31,251 | PDF p. 123 |
Notes
Contractual undiscounted repayments.
Note 30(d) Company 2026 contractual undiscounted maturity - lease liabilities
| Item / unit | 2026One year or less | 2026More than one to five years | 2026Total | Source |
|---|---|---|---|---|
| Financial liabilities | ||||
| Lease liabilities$ | 40,800 | 64,600 | 105,400 | PDF p. 123 |
Notes
Company has no interest bearing borrowings listed for 2026.
Note 30(d) Company 2025 contractual undiscounted maturity - borrowings
| Item / unit | 2025One year or less | 2025Total | Source |
|---|---|---|---|
| Interest bearing borrowings | |||
| - Revolving credit facility (floating rates)$ | 1,453,760 | 1,453,760 | PDF p. 124 |
Notes
Contractual undiscounted repayments.
Borrowing notes 2 tables
Loans and borrowings (current and non-current)
| Item / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Current | |||||
| Lease liabilities$ | 101,519 | 10,318 | 37,417 | – | PDF p. 106 |
| Current - Loans and borrowings | |||||
| Banker’s acceptance$ | – | 41,396 | – | – | PDF p. 106 |
| Bank overdraft$ | – | 110,270 | – | – | PDF p. 106 |
| Foreign currency loan against import$ | 509,611 | 1,387,677 | – | – | PDF p. 106 |
| Revolving credit facility$ | – | 1,400,000 | – | 1,400,000 | PDF p. 106 |
| Current | |||||
| Current total$ | 611,130 | 2,949,661 | 37,417 | 1,400,000 | PDF p. 106 |
| Non-current | |||||
| Lease liabilities$ | 471,068 | 17,906 | 62,589 | – | PDF p. 106 |
| Total | |||||
| Total loans and borrowings$ | 1,082,198 | 2,967,567 | 100,006 | 1,400,000 | PDF p. 106 |
Notes
Printed note: foreign currency loan against import secured by corporate guarantee from the Company, negative pledge over certain assets of the Group and legal charges over certain properties (Note 26); drawn for up to 120 days (2025: 120 days), renewable; interest 5.03% to 5.65% (2025: 5.48% to 6.63%) per annum.
Banker's acceptance interest 3.95% to 4.61% (2025: 4.59%) per annum; secured by corporate guarantee, negative pledge and legal charges; fully repaid in FY ended 31 March 2026.
Bank overdraft interest 7.70% (2025: 7.95%) per annum; secured likewise; fully repaid in FY2026.
Revolving credit facility secured by legal charges over certain properties; drawn up to 30 days (2025: 30 days), renewable; interest 2.77% to 3.86% (2025: 3.58% to 4.93%) per annum; fully repaid in FY2026.
Carrying amounts of borrowings approximate fair value (Level 3).
Lease liabilities movement
| Item / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Lease liabilities | |||||
| At 1 April$ | 28,224 | 29,628 | – | – | PDF p. 108 |
| Additions$ | 636,715 | 27,759 | 115,134 | – | PDF p. 108 |
| Accretion of interest$ | 15,725 | 1,933 | 1,872 | – | PDF p. 108 |
| Payments$ | (122,756) | (32,794) | (17,000) | – | PDF p. 108 |
| Foreign exchange$ | 14,679 | 1,698 | – | – | PDF p. 108 |
| At 31 March$ | 572,587 | 28,224 | 100,006 | – | PDF p. 108 |
Notes
Maturity analysis of lease liabilities is in Note 30(d). Solar panel lease secured by corporate guarantee from HSOR.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| DIVIDEND POLICY | The Company does not have a fixed dividend policy at present. The Board, in determining a dividend proposal, will take into consideration the Group's profits, cash position, projected capital requirements for business growth and other factors as the Board may deem appropriate. | Company | PDF p. 39 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 dividend disclosure | the Board has not declared or recommended a dividend | Group, FYE26 (1 April 2025 - 31 March 2026) | PDF p. 38 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | Ernst & Young LLP | Group | PDF p. 71 |
| Engagement partner | Loo Sian Hon Briston | Group | PDF p. 71 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view | Group and Company | PDF p. 68 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of development properties and impairment assessment of investment in subsidiaries | We considered the audit of management’s valuation assessment of development properties and impairment assessment of cost of investment in subsidiaries to be a key audit matter due to the magnitude of their carrying amounts as at 31 March 2026. | Group and Company | PDF p. 69 |
Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.