Medtecs Intl 546
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Financials
Medtecs International Corporation Limited Annual Report 2025
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14 tablesGroup Comprehensive Income
21 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group Comprehensive Income | |||
| RevenueUSD thousand | 78,966 | 54,423 | PDF p. 76 |
| Costs of sales and servicesUSD thousand | (66,320) | (47,541) | PDF p. 76 |
| Gross profitUSD thousand | 12,646 | 6,882 | PDF p. 76 |
| Other income netUSD thousand | 1,439 | 4,371 | PDF p. 76 |
| Financial incomeUSD thousand | 915 | 1,457 | PDF p. 76 |
| Distribution and selling expensesUSD thousand | (6,041) | (5,898) | PDF p. 76 |
| Administrative expensesUSD thousand | (10,222) | (17,384) | PDF p. 76 |
| Allowance for expected credit losses on receivablesUSD thousand | (3,070) | (12,074) | PDF p. 76 |
| Financial expensesUSD thousand | (811) | (794) | PDF p. 76 |
| Loss before taxUSD thousand | (5,144) | (23,440) | PDF p. 76 |
| Tax credit or expenseUSD thousand | 384 | (509) | PDF p. 76 |
| Net loss for the yearUSD thousand | (4,760) | (23,949) | PDF p. 76 |
| Foreign currency translation reserveUSD thousand | 252 | (659) | PDF p. 76 |
| Remeasurement loss or gain on retirement benefit obligation net of taxUSD thousand | (96) | 46 | PDF p. 76 |
| Total comprehensive lossUSD thousand | (4,604) | (24,562) | PDF p. 76 |
| Net loss attributable to equity holdersUSD thousand | (4,765) | (22,422) | PDF p. 76 |
| Net profit or loss attributable to non-controlling interestsUSD thousand | 5 | (1,527) | PDF p. 76 |
| Total net loss attributableUSD thousand | (4,760) | (23,949) | PDF p. 76 |
| Comprehensive loss attributable to equity holdersUSD thousand | (4,609) | (23,035) | PDF p. 76 |
| Comprehensive profit or loss attributable to non-controlling interestsUSD thousand | 5 | (1,527) | PDF p. 76 |
| Total comprehensive loss attributableUSD thousand | (4,604) | (24,562) | PDF p. 76 |
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Original report: PDF p. 76 ↗
Group Loss per Share
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group Loss per Share | |||
| Basic and diluted loss per shareUS cents per share | (0.874) | (4.115) | PDF p. 76 |
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Original report: PDF p. 76 ↗
Group and Company Financial Position
30 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Group and Company Financial Position | |||||
| Property plant and equipmentUSD thousand | 51,612 | 18,325 | 21 | 50 | PDF p. 77 |
| Investment propertyUSD thousand | 2,283 | 2,394 | – | – | PDF p. 77 |
| Assets held for leasingUSD thousand | 3,751 | 3,667 | – | – | PDF p. 77 |
| Right-of-use assetsUSD thousand | 9,723 | 4,458 | 248 | 374 | PDF p. 77 |
| Net investment in sub-leaseUSD thousand | – | 4,710 | 4,271 | 4,710 | PDF p. 77 |
| Investment in subsidiariesUSD thousand | – | – | 50,749 | 27,000 | PDF p. 77 |
| Intangible assetsUSD thousand | 2,839 | 3,116 | – | – | PDF p. 77 |
| Deferred tax assetsUSD thousand | 1,581 | 2,284 | – | – | PDF p. 77 |
| Other non-current assetsUSD thousand | 1,358 | 745 | 108 | 79 | PDF p. 77 |
| Total non-current assetsUSD thousand | 73,147 | 39,699 | 55,397 | 32,213 | PDF p. 77 |
| InventoriesUSD thousand | 28,215 | 25,544 | 603 | 390 | PDF p. 77 |
| Trade receivablesUSD thousand | 19,252 | 10,666 | 117 | 173 | PDF p. 77 |
| Other current assetsUSD thousand | 5,761 | 34,722 | 242 | 25,009 | PDF p. 77 |
| Cash bank balances and fixed depositsUSD thousand | 19,368 | 27,336 | 1,444 | 795 | PDF p. 77 |
| Total current assetsUSD thousand | 72,596 | 98,268 | 2,406 | 26,367 | PDF p. 77 |
| Total assetsUSD thousand | 145,743 | 137,967 | 57,803 | 58,580 | PDF p. 77 |
| Trade payables and other current liabilitiesUSD thousand | 20,571 | 6,200 | 700 | 609 | PDF p. 77 |
| Lease liabilities currentUSD thousand | 819 | 633 | 148 | 149 | PDF p. 77 |
| Due to subsidiaries netUSD thousand | – | – | 19,589 | 13,361 | PDF p. 77 |
| Loans and borrowingsUSD thousand | 17,536 | 19,358 | – | – | PDF p. 77 |
| Income tax payableUSD thousand | 808 | 2,113 | – | 5 | PDF p. 77 |
| Total current liabilitiesUSD thousand | 39,734 | 28,304 | 20,437 | 14,124 | PDF p. 77 |
| Net current assets or liabilitiesUSD thousand | 32,862 | 69,964 | (18,031) | 12,243 | PDF p. 77 |
| Lease liabilities non-currentUSD thousand | 3,336 | 2,294 | 288 | 367 | PDF p. 77 |
| Deferred tax liabilitiesUSD thousand | 501 | 525 | 18 | 12 | PDF p. 77 |
| Pension benefit obligationUSD thousand | 115 | 178 | 98 | 98 | PDF p. 77 |
| Other non-current liabilitiesUSD thousand | 9 | 14 | – | – | PDF p. 77 |
| Total non-current liabilitiesUSD thousand | 3,961 | 3,011 | 404 | 477 | PDF p. 77 |
| Total liabilitiesUSD thousand | 43,695 | 31,315 | 20,841 | 14,601 | PDF p. 77 |
| Net assetsUSD thousand | 102,048 | 106,652 | 36,962 | 43,979 | PDF p. 77 |
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Definitions & sources
Original report: PDF p. 77 ↗
Group and Company Equity
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Group and Company Equity | |||||
| Share capitalUSD thousand | 27,471 | 27,471 | 27,471 | 27,471 | PDF p. 78 |
| Treasury shares deductedUSD thousand | (2,361) | (2,361) | (2,361) | (2,361) | PDF p. 78 |
| Share premiumUSD thousand | 4,721 | 4,721 | 4,721 | 4,721 | PDF p. 78 |
| Revenue reservesUSD thousand | 72,439 | 77,204 | 6,454 | 13,475 | PDF p. 78 |
| Remeasurement gain on retirement benefit obligationsUSD thousand | 153 | 249 | 116 | 112 | PDF p. 78 |
| Foreign currency translation reservesUSD thousand | (1,257) | (1,509) | – | – | PDF p. 78 |
| Other reservesUSD thousand | 394 | 394 | 561 | 561 | PDF p. 78 |
| Equity attributable to equity holdersUSD thousand | 101,560 | 106,169 | 36,962 | 43,979 | PDF p. 78 |
| Non-controlling interestsUSD thousand | 488 | 483 | – | – | PDF p. 78 |
| Total equityUSD thousand | 102,048 | 106,652 | 36,962 | 43,979 | PDF p. 78 |
| Total equity and liabilitiesUSD thousand | 145,743 | 137,967 | 57,803 | 58,580 | PDF p. 78 |
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Original report: PDF p. 78 ↗
Group Changes in Equity 2025
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupShare capital | 2025GroupShare premium | 2025GroupRevenue reserves | 2025GroupRemeasurement gain on retirement benefit obligations | 2025GroupForeign currency translation reserves | 2025GroupOther reserves | 2025GroupTreasury shares | 2025GroupNon-controlling interests | 2025GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Group Changes in Equity 2025 | ||||||||||
| Opening balance at 1 January 2025USD thousand | 27,471 | 4,721 | 77,204 | 249 | (1,509) | 394 | (2,361) | 483 | 106,652 | PDF p. 79 |
| Net loss for the yearUSD thousand | – | – | (4,765) | – | – | – | – | 5 | (4,760) | PDF p. 79 |
| Foreign currency translation reservesUSD thousand | – | – | – | – | 252 | – | – | – | 252 | PDF p. 79 |
| Remeasurement loss on retirement benefit obligation net of taxUSD thousand | – | – | – | (96) | – | – | – | – | (96) | PDF p. 79 |
| Other comprehensive income or lossUSD thousand | – | – | – | (96) | 252 | – | – | – | 156 | PDF p. 79 |
| Total comprehensive income or lossUSD thousand | – | – | (4,765) | (96) | 252 | – | – | 5 | (4,604) | PDF p. 79 |
| Closing balance at 31 December 2025USD thousand | 27,471 | 4,721 | 72,439 | 153 | (1,257) | 394 | (2,361) | 488 | 102,048 | PDF p. 79 |
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Original report: PDF p. 79 ↗
Group Changes in Equity 2024
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupShare capital | 2024GroupShare premium | 2024GroupRevenue reserves | 2024GroupRemeasurement gain on retirement benefit obligations | 2024GroupForeign currency translation reserves | 2024GroupOther reserves | 2024GroupTreasury shares | 2024GroupNon-controlling interests | 2024GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Group Changes in Equity 2024 | ||||||||||
| Opening balance at 1 January 2024USD thousand | 27,471 | 4,721 | 99,618 | 211 | (850) | 394 | (2,361) | 1,104 | 130,308 | PDF p. 80 |
| Net loss for the yearUSD thousand | – | – | (22,422) | – | – | – | – | (1,527) | (23,949) | PDF p. 80 |
| Foreign currency translation reservesUSD thousand | – | – | – | – | (659) | – | – | – | (659) | PDF p. 80 |
| Remeasurement gain on retirement benefit obligation net of taxUSD thousand | – | – | – | 46 | – | – | – | – | 46 | PDF p. 80 |
| Other comprehensive income or lossUSD thousand | – | – | – | 46 | (659) | – | – | – | (613) | PDF p. 80 |
| Total comprehensive income or lossUSD thousand | – | – | (22,422) | 46 | (659) | – | – | (1,527) | (24,562) | PDF p. 80 |
| Reclassification of actuarial gains to revenue reservesUSD thousand | – | – | 8 | (8) | – | – | – | – | – | PDF p. 80 |
| Deconsolidation of subsidiariesUSD thousand | – | – | – | – | – | – | – | 906 | 906 | PDF p. 80 |
| Closing balance at 31 December 2024USD thousand | 27,471 | 4,721 | 77,204 | 249 | (1,509) | 394 | (2,361) | 483 | 106,652 | PDF p. 80 |
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Original report: PDF p. 80 ↗
Company Changes in Equity 2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024CompanyShare capital | 2024CompanyShare premium | 2024CompanyRevenue reserves | 2024CompanyRemeasurement gain on retirement benefit obligations | 2024CompanyOther reserves | 2024CompanyTreasury shares | 2024CompanyTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Company Changes in Equity 2024 | ||||||||
| Opening balance at 1 January 2024USD thousand | 27,471 | 4,721 | 32,071 | 105 | 561 | (2,361) | 62,568 | PDF p. 81 |
| Net loss for the yearUSD thousand | – | – | (18,596) | – | – | – | (18,596) | PDF p. 81 |
| Remeasurement gain on retirement benefit obligation net of taxUSD thousand | – | – | – | 7 | – | – | 7 | PDF p. 81 |
| Total comprehensive income or lossUSD thousand | – | – | (18,596) | 7 | – | – | (18,589) | PDF p. 81 |
| Closing balance at 31 December 2024USD thousand | 27,471 | 4,721 | 13,475 | 112 | 561 | (2,361) | 43,979 | PDF p. 81 |
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Original report: PDF p. 81 ↗
Company Changes in Equity 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025CompanyShare capital | 2025CompanyShare premium | 2025CompanyRevenue reserves | 2025CompanyRemeasurement gain on retirement benefit obligations | 2025CompanyOther reserves | 2025CompanyTreasury shares | 2025CompanyTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Company Changes in Equity 2025 | ||||||||
| Opening balance at 1 January 2025USD thousand | 27,471 | 4,721 | 13,475 | 112 | 561 | (2,361) | 43,979 | PDF p. 81 |
| Net loss for the yearUSD thousand | – | – | (7,021) | – | – | – | (7,021) | PDF p. 81 |
| Remeasurement gain on retirement benefit obligation net of taxUSD thousand | – | – | – | 4 | – | – | 4 | PDF p. 81 |
| Total comprehensive income or lossUSD thousand | – | – | (7,021) | 4 | – | – | (7,017) | PDF p. 81 |
| Closing balance at 31 December 2025USD thousand | 27,471 | 4,721 | 6,454 | 116 | 561 | (2,361) | 36,962 | PDF p. 81 |
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Definitions & sources
Original report: PDF p. 81 ↗
Group Cash Flows from Operating Activities
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group Cash Flows from Operating Activities | |||
| Loss before taxUSD thousand | (5,144) | (23,440) | PDF p. 82 |
| Depreciation of property plant and equipmentUSD thousand | 3,466 | 4,276 | PDF p. 82 |
| Depreciation of assets held for leasingUSD thousand | 2,016 | 1,860 | PDF p. 82 |
| Depreciation of right-of-use assetsUSD thousand | 788 | 1,028 | PDF p. 82 |
| Depreciation of investment propertyUSD thousand | 111 | 111 | PDF p. 82 |
| Amortisation of computer softwareUSD thousand | 280 | 277 | PDF p. 82 |
| Impairment loss on property plant and equipmentUSD thousand | – | 138 | PDF p. 82 |
| Allowance for inventory write-downUSD thousand | 675 | 7,356 | PDF p. 82 |
| Allowance for expected credit losses on trade receivablesUSD thousand | 501 | 9,817 | PDF p. 82 |
| Allowance for expected credit losses on other receivablesUSD thousand | 2,569 | 2,257 | PDF p. 82 |
| Reversal of inventory write-downUSD thousand | (1,911) | (103) | PDF p. 82 |
| Reversal of expected credit losses on trade receivablesUSD thousand | (567) | (3) | PDF p. 82 |
| Reversal of impairment loss on other current assetsUSD thousand | (50) | – | PDF p. 82 |
| Write-off of inventoriesUSD thousand | 315 | – | PDF p. 82 |
| Gain on deconsolidationUSD thousand | – | (2,199) | PDF p. 82 |
| Loss on derecognition of net investment in lease receivableUSD thousand | 485 | – | PDF p. 82 |
| Interest expense on loans and lease liabilitiesUSD thousand | 771 | 764 | PDF p. 82 |
| Other finance expensesUSD thousand | 40 | 30 | PDF p. 82 |
| Unrealised currency translation gainsUSD thousand | (9) | (20) | PDF p. 82 |
| Net changes in pension benefits obligationUSD thousand | (156) | (674) | PDF p. 82 |
| Interest incomeUSD thousand | (915) | (1,457) | PDF p. 82 |
| Gain on disposal of property plant and equipmentUSD thousand | (7) | (35) | PDF p. 82 |
| Operating cash flows before working capital changesUSD thousand | 3,258 | (17) | PDF p. 82 |
| InventoriesUSD thousand | 2,847 | 296 | PDF p. 82 |
| Trade receivablesUSD thousand | (5,023) | 2,226 | PDF p. 82 |
| Other current assetsUSD thousand | 1,525 | (28,311) | PDF p. 82 |
| Guarantee deposits and deposits non-currentUSD thousand | (70) | 879 | PDF p. 82 |
| Trade payables and other liabilitiesUSD thousand | (4,647) | 27,851 | PDF p. 82 |
| Deferred lease incomeUSD thousand | (5) | (4) | PDF p. 82 |
| Cash generated from operationsUSD thousand | (2,115) | 2,920 | PDF p. 82 |
| Income taxes paidUSD thousand | (242) | (547) | PDF p. 82 |
| Other finance cost paidUSD thousand | (40) | (30) | PDF p. 82 |
| Net cash used in or from operating activitiesUSD thousand | (2,397) | 2,343 | PDF p. 82 |
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Original report: PDF p. 82 ↗
Group Cash Flows from Investing Activities
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group Cash Flows from Investing Activities | |||
| Proceeds from disposal of property plant and equipmentUSD thousand | 7 | 48 | PDF p. 83 |
| Proceeds from disposal of assets held for leasingUSD thousand | 24 | 28 | PDF p. 83 |
| Purchases of property plant and equipmentUSD thousand | (4,523) | (1,683) | PDF p. 83 |
| Purchases of assets held for leasingUSD thousand | (2,124) | (1,640) | PDF p. 83 |
| Purchases of intangible assetsUSD thousand | (3) | (30) | PDF p. 83 |
| Interest received from fixed deposit unquoted bond and finance leaseUSD thousand | 915 | 1,457 | PDF p. 83 |
| Fixed deposits with maturity more than 90 daysUSD thousand | 4,050 | (855) | PDF p. 83 |
| Net cash inflow from acquisition of subsidiariesUSD thousand | 757 | – | PDF p. 83 |
| Acquisition of financial assets at FVOCIUSD thousand | (430) | – | PDF p. 83 |
| Proceeds from redemption of unquoted bondUSD thousand | 3,000 | – | PDF p. 83 |
| Net cash outflow from deconsolidation of subsidiariesUSD thousand | – | (50) | PDF p. 83 |
| Net cash from or used in investing activitiesUSD thousand | 1,673 | (2,725) | PDF p. 83 |
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Original report: PDF p. 83 ↗
Group Cash Flows from Financing Activities
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group Cash Flows from Financing Activities | |||
| Uplift of fixed depositsUSD thousand | 2,632 | 1,043 | PDF p. 83 |
| Proceeds from loans and borrowingsUSD thousand | 17,536 | 19,358 | PDF p. 83 |
| Repayment of loans and borrowingsUSD thousand | (19,358) | (23,861) | PDF p. 83 |
| Interest paid on loans and borrowingsUSD thousand | (443) | (503) | PDF p. 83 |
| Principal payments of lease liabilitiesUSD thousand | (553) | (715) | PDF p. 83 |
| Interest payments of lease liabilitiesUSD thousand | (328) | (261) | PDF p. 83 |
| Net cash used in financing activitiesUSD thousand | (514) | (4,939) | PDF p. 83 |
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Original report: PDF p. 83 ↗
Group Cash and Cash Equivalents Reconciliation
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group Cash and Cash Equivalents Reconciliation | |||
| Net decrease in cash and cash equivalentsUSD thousand | (1,238) | (5,321) | PDF p. 83 |
| Cash and cash equivalents at beginning of yearUSD thousand | 16,789 | 22,305 | PDF p. 83 |
| Effects of currency translationUSD thousand | (48) | (195) | PDF p. 83 |
| Cash and cash equivalents at end of yearUSD thousand | 15,503 | 16,789 | PDF p. 83 |
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Original report: PDF p. 83 ↗
Group and Company Cash and Cash Equivalents Note23
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Group and Company Cash and Cash Equivalents Note23 | |||||
| Cash in handUSD thousand | 45 | 41 | 1 | 1 | PDF p. 131 |
| Cash at banksUSD thousand | 15,458 | 9,730 | 1,396 | 747 | PDF p. 131 |
| Fixed depositsUSD thousand | 3,865 | 17,565 | 47 | 47 | PDF p. 131 |
| Cash bank balances and fixed deposits totalUSD thousand | 19,368 | 27,336 | 1,444 | 795 | PDF p. 131 |
| Fixed deposits over 90 days and less than one year including pledged deposits excludedUSD thousand | (3,865) | (10,547) | (47) | (47) | PDF p. 131 |
| Cash and cash equivalentsUSD thousand | 15,503 | 16,789 | 1,397 | 748 | PDF p. 131 |
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Original report: PDF p. 131 ↗
Four-year Historical Charts
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | Source |
|---|---|---|---|---|---|
| Four-year Historical Charts | |||||
| Revenue totalUSD million | 78.9 | 54.4 | 52.6 | 56.2 | PDF p. 13 |
| Revenue first halfUSD million | 36.4 | 25.5 | 26.5 | 31.6 | PDF p. 13 |
| Revenue second halfUSD million | 42.5 | 28.9 | 26.1 | 24.6 | PDF p. 13 |
| Gross profitUSD million | 12.6 | 6.9 | 6.0 | -3.3 | PDF p. 14 |
| Net profit or lossUSD million | -4.8 | -23.9 | -22.5 | -29.3 | PDF p. 14 |
| Gross profit margin% | 16.0 | 12.8 | 11.2 | -5.8 | PDF p. 14 |
| Net profit margin% | -6.1 | -43.9 | -42.8 | -51.9 | PDF p. 14 |
| Capital expenditureUSD million | 4.5 | 1.7 | 3.1 | 18.1 | PDF p. 14 |
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Original report: PDF p. 13 ↗ PDF p. 14 ↗
Where the money comes from
Segment information
By business
Business segments 2025 (Group, US$'000) 12 lines
| Item / unit | 2025Manufacturing | 2025Hospital services | 2025Distribution and others | 2025Group | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| Third partiesUS$'000 | 58,969 | 17,842 | 2,155 | 78,966 | PDF p. 137 |
| Intersegment salesUS$'000 | 25,313 | – | – | 25,313 | PDF p. 137 |
| Total revenueUS$'000 | 84,282 | 17,842 | 2,155 | 104,279 | PDF p. 137 |
| EliminationsUS$'000 | (25,313) | – | – | (25,313) | PDF p. 137 |
| Results | |||||
| ResultsUS$'000 | (7,731) | 2,832 | (349) | (5,248) | PDF p. 137 |
| Assets | |||||
| Total assetsUS$'000 | 127,746 | 14,017 | 3,980 | 145,743 | PDF p. 137 |
| Liabilities | |||||
| Total liabilitiesUS$'000 | 43,289 | 403 | 3 | 43,695 | PDF p. 137 |
| Other segment information | |||||
| Capital expenditureUS$'000 | 5,065 | 1,205 | – | 6,270 | PDF p. 137 |
| Depreciation and amortisationUS$'000 | 4,061 | 2,489 | 111 | 6,661 | PDF p. 137 |
| Allowance for write down of inventoryUS$'000 | 516 | – | 159 | 675 | PDF p. 137 |
| Allowance for ECL on receivablesUS$'000 | 3,070 | – | – | 3,070 | PDF p. 137 |
| Other non-cash expenses - netUS$'000 | 628 | – | – | 628 | PDF p. 137 |
Notes
Years ended 31 December 2025. Segment results, assets and liabilities include items directly attributable to a segment as well as those allocated on a reasonable basis. Segment revenue, expenses and results include transfers between business segments, eliminated on consolidation. Financial expenses, financial income, tax credit and net loss are shown in the Group column only. An unlabelled subtotal row (58,969 17,842 2,155 78,966) after Eliminations is not extracted.
Business segments 2024 (Group, US$'000) 14 lines
| Item / unit | 2024Manufacturing | 2024Hospital services | 2024Distribution and others | 2024Group | Source |
|---|---|---|---|---|---|
| Revenue | |||||
| Third partiesUS$'000 | 36,477 | 15,174 | 2,772 | 54,423 | PDF p. 138 |
| Intersegment salesUS$'000 | 24,685 | – | – | 24,685 | PDF p. 138 |
| Total revenueUS$'000 | 61,162 | 15,174 | 2,772 | 79,108 | PDF p. 138 |
| EliminationsUS$'000 | (24,685) | – | – | (24,685) | PDF p. 138 |
| Results | |||||
| ResultsUS$'000 | (25,366) | 1,720 | (457) | (24,103) | PDF p. 138 |
| Assets | |||||
| Total assetsUS$'000 | 121,134 | 11,991 | 4,842 | 137,967 | PDF p. 138 |
| Liabilities | |||||
| Total liabilitiesUS$'000 | 30,964 | 341 | 10 | 31,315 | PDF p. 138 |
| Other segment information | |||||
| Capital expenditureUS$'000 | 1,199 | 2,154 | – | 3,353 | PDF p. 138 |
| Depreciation and amortisationUS$'000 | 4,999 | 2,442 | 111 | 7,552 | PDF p. 138 |
| Allowance for inventory lossesUS$'000 | 7,280 | – | 76 | 7,356 | PDF p. 138 |
| Allowance for ECL on receivablesUS$'000 | 12,074 | – | – | 12,074 | PDF p. 138 |
| Gain on deconsolidation of subsidiariesUS$'000 | (2,199) | – | – | (2,199) | PDF p. 138 |
| Allowance for impairment loss on property, plant and equipmentUS$'000 | 138 | – | – | 138 | PDF p. 138 |
| Other non-cash expenses - netUS$'000 | (757) | – | – | (757) | PDF p. 138 |
Notes
Years ended 31 December 2024 (comparative). Financial expenses, financial income, tax expense and net loss are shown in the Group column only. An unlabelled subtotal row (36,477 15,174 2,772 54,423) after Eliminations is not extracted.
By geography
Geographical information (US$'000) 10 lines
| Item / unit | 2025Sales to external customers | 2024Sales to external customers | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| SingaporeUS$'000 | – | – | 5 | 3 | PDF p. 139 |
| PhilippinesUS$'000 | 3,421 | 3,483 | 8,735 | 9,579 | PDF p. 139 |
| CambodiaUS$'000 | 1,760 | – | 43,586 | 15,635 | PDF p. 139 |
| TaiwanUS$'000 | 23,782 | 16,346 | 13,587 | 11,482 | PDF p. 139 |
| ChinaUS$'000 | – | – | 1,023 | 935 | PDF p. 139 |
| BermudaUS$'000 | – | – | 4,199 | – | PDF p. 139 |
| LuxembourgUS$'000 | 19,939 | 18,650 | – | – | PDF p. 139 |
| United State of AmericaUS$'000 | 22,377 | 7,699 | – | – | PDF p. 139 |
| United KingdomUS$'000 | 6,749 | 6,153 | – | – | PDF p. 139 |
| OthersUS$'000 | 938 | 2,092 | – | – | PDF p. 139 |
Notes
Significant revenue and non-current assets information based on the geographical location of customers and assets respectively. Geographical segments are based on the location of the Group's assets; sales to external customers are based on the location of customers. The unlabelled total row (78,966 54,423 71,135 37,634) is not extracted as a row.
Debt
Borrowings
Borrowing notes 2 tables
Loans and borrowings (Note 25)
| Item / unit | 2025Group weighted average effective interest rate (% per annum) | 2025Group maturity | 2025Group carrying amount | 2024Group carrying amount | Source |
|---|---|---|---|---|---|
| New Taiwan Dollar (NTD) loans | |||||
| - UnsecuredUS$'000 (rate in %) | 1.78 | 2026 | 1,594 | 2,137 | PDF p. 132 |
| - SecuredUS$'000 (rate in %) | 2.29 | 2026 | 15,942 | 17,221 | PDF p. 132 |
Notes
Property, plant and equipment and fixed deposits with carrying amounts of $4,713,000 and $1,705,000, respectively (2024: $4,580,000 and $4,337,000, respectively) (Notes 12 and 23) are used to secure the loans and borrowings of the Group amounting to $15,942,000 (2024: $17,221,000).
The loans and borrowings pertain to withdrawn amount from the revolving credit line of the Group, which are short-term in nature, have payment terms from 2 to 6 months and can be renewed upon maturity.
All borrowings are NTD-denominated and current; floating rate per Note 31.
Lease liabilities on statements of financial position
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current liabilities | |||||
| Lease liabilitiesUS$'000 | 819 | 633 | 148 | 149 | PDF p. 77 |
| Non-current liabilities | |||||
| Lease liabilitiesUS$'000 | 3,336 | 2,294 | 288 | 367 | PDF p. 77 |
| Current liabilities | |||||
| Loans and borrowingsUS$'000 | 17,536 | 19,358 | – | – | PDF p. 77 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a fixed policy on the declaration of dividends. The form, frequency and amount of future dividends declared will depend on earnings, general financial position, results of operation, capital requirements, cash flow, general business condition, or development plans and other factors as the Directors may, in their absolute discretion, deem appropriate. | Company | PDF p. 52 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| FY2025 dividend recommendation | the Board is not recommending any dividend distribution to its shareholders for FY2025 | FY2025 | PDF p. 52 |
Extracted from Medtecs International Corporation Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | Baker Tilly TFW LLP | Group and Company | PDF p. 75 |
| Engagement partner | Ong Kian Guan | Group and Company | PDF p. 75 |
| Auditor's report date | 11 April 2026 | Group and Company · As at 2026-04-11 | PDF p. 75 |
| Opinion | properly drawn up in accordance with the Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view | Group and Company, year ended 31 December 2025 | PDF p. 71 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Assessment of inventory valuation | Significant judgment and estimates are involved in the allocations of direct labour and factory overheads and the assessment of inventory allowance which may have significant impact on the valuation of inventories. | Group, as at 31 December 2025 | PDF p. 72 |
Extracted from Medtecs International Corporation Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Medtecs International Corporation Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Audited statements are USD thousands, except basic and diluted loss per share in US cents. The Group reports consolidated statements; the Company separately reports financial position and changes in equity.
The Group reported operating cash outflow in FY2025 and operating cash inflow in FY2024. Cash-flow closing cash differs from financial-position cash/bank balances/fixed deposits; Note23 excludes fixed deposits over 90 days and less than one year including pledged fixed deposits: USD3.865m in FY2025 and USD10.547m in FY2024. The note reconciles exactly to both statements.
Treasury shares and losses remain negative. Non-controlling interests show a small profit in FY2025 although the Group incurred a net loss. FY2024 equity includes actuarial gain reclassification and subsidiary deconsolidation.
The FY2025 report provides historical charts for FY2022–FY2025, not a five-year summary. These four years are retained without fabricating FY2021. Chart legend identifies gross profit separately from net profit/loss and first-half revenue separately from second-half revenue.
Original chart and narrative figures are retained despite four discrepancies against audited figures: FY2025 revenue 78.9m versus audited 78.966m (rounds to79.0m); FY2024 gross margin 12.8% versus audited 12.6%; FY2025 net margin −6.1% versus audited −6.0%; FY2024 net margin −43.9% versus audited −44.0%. These are report presentation differences, not adjustments to audited statements.
The financial-review table labels USD19.4m/27.3m as cash and cash equivalents, but these correspond to financial-position cash/bank/fixed deposits. The audited cash-flow equivalent balances are USD15.503m/16.789m after Note23 exclusions and remain separately shown.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.