UMS 558
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Financials
ANNUAL REPORT 2025
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13 tablesConsolidated Income Statement
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueS$’000 | 251,063 | 242,115 | PDF p. 56 |
| Changes in inventoriesS$’000 | 42,786 | (1,589) | PDF p. 56 |
| Raw material purchases and subcontractor chargesS$’000 | (157,432) | (116,928) | PDF p. 56 |
| Employee benefits expenseS$’000 | (34,181) | (35,797) | PDF p. 56 |
| Depreciation expenseS$’000 | (24,917) | (19,799) | PDF p. 56 |
| Amortisation of intangible assetS$’000 | (300) | (300) | PDF p. 56 |
| Other expensesS$’000 | (24,875) | (25,105) | PDF p. 56 |
| Other (charges)/creditS$’000 | (2,372) | 2,645 | PDF p. 56 |
| Finance incomeS$’000 | 962 | 2,208 | PDF p. 56 |
| Finance expenseS$’000 | (480) | (679) | PDF p. 56 |
| Profit before income taxS$’000 | 50,254 | 46,771 | PDF p. 56 |
| Income taxS$’000 | (6,637) | (5,195) | PDF p. 56 |
| Net profit for the yearS$’000 | 43,617 | 41,576 | PDF p. 56 |
| Profit attributable to | |||
| Owners of the CompanyS$’000 | 41,596 | 40,607 | PDF p. 56 |
| Non-controlling interestsS$’000 | 2,021 | 969 | PDF p. 56 |
| Profit attributable to owners and non-controlling interests | |||
| TotalS$’000 | 43,617 | 41,576 | PDF p. 56 |
| Earnings per share | |||
| - Basiccents per share | 5.85 | 5.74 | PDF p. 56 |
| - Dilutedcents per share | 5.85 | 5.74 | PDF p. 56 |
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Definitions & sources
Original report: PDF p. 56 ↗
For the financial year ended 31 December 2025. The accompanying notes form an integral part of the financial statements.
Consolidated Statement of Comprehensive Income
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| Net profit for the yearS$’000 | 43,617 | 41,576 | PDF p. 57 |
| Other comprehensive income, net of income tax; Items that may be reclassified subsequently to profit or loss | |||
| Exchange differences on translation of foreign operationsS$’000 | 4,502 | 8,036 | PDF p. 57 |
| Comprehensive income | |||
| Total comprehensive income for the yearS$’000 | 48,119 | 49,612 | PDF p. 57 |
| Total comprehensive income attributable to | |||
| Owners of the CompanyS$’000 | 45,972 | 48,724 | PDF p. 57 |
| Non-controlling interestsS$’000 | 2,147 | 888 | PDF p. 57 |
| Total comprehensive income attributable | |||
| SubtotalS$’000 | 48,119 | 49,612 | PDF p. 57 |
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Definitions & sources
Original report: PDF p. 57 ↗
For the financial year ended 31 December 2025. Other comprehensive income is net of income tax. The accompanying notes form an integral part of the financial statements.
Statements of Financial Position
31 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Assets; Current Assets | |||||
| Cash and bank balancesS$’000 | 43,063 | 79,928 | 458 | 942 | PDF p. 58 |
| Trade receivables and other current assetsS$’000 | 42,812 | 56,724 | 47,840 | 53,701 | PDF p. 58 |
| Loan to subsidiariesS$’000 | – | – | 1,873 | 7,930 | PDF p. 58 |
| InventoriesS$’000 | 151,957 | 109,171 | – | – | PDF p. 58 |
| Assets | |||||
| Total Current AssetsS$’000 | 237,832 | 245,823 | 50,171 | 62,573 | PDF p. 58 |
| Assets; Non-Current Assets | |||||
| Investments in subsidiariesS$’000 | – | – | 270,724 | 270,724 | PDF p. 58 |
| Property, plant and equipmentS$’000 | 194,370 | 165,986 | – | – | PDF p. 58 |
| Right-of-use assetsS$’000 | 8,832 | 9,345 | – | – | PDF p. 58 |
| Intangible assetsS$’000 | 87,351 | 87,651 | – | – | PDF p. 58 |
| Loan to a subsidiaryS$’000 | – | – | 9,639 | 9,882 | PDF p. 58 |
| Deferred tax assetsS$’000 | 159 | 162 | – | – | PDF p. 58 |
| Assets | |||||
| Total Non-Current AssetsS$’000 | 290,712 | 263,144 | 280,363 | 280,606 | PDF p. 58 |
| Total AssetsS$’000 | 528,544 | 508,967 | 330,534 | 343,179 | PDF p. 58 |
| Liabilities and Equity; Current Liabilities | |||||
| BorrowingsS$’000 | – | 754 | – | – | PDF p. 58 |
| Trade and other payablesS$’000 | 47,044 | 39,600 | 10,081 | 109,970 | PDF p. 58 |
| Lease liabilitiesS$’000 | 1,831 | 652 | – | – | PDF p. 58 |
| Income tax payableS$’000 | 4,586 | 4,475 | 219 | 253 | PDF p. 58 |
| Liabilities and Equity | |||||
| Total Current LiabilitiesS$’000 | 53,461 | 45,481 | 10,300 | 110,223 | PDF p. 58 |
| Liabilities and Equity; Non-Current Liabilities | |||||
| Lease liabilitiesS$’000 | 7,740 | 9,296 | – | – | PDF p. 58 |
| Deferred tax liabilitiesS$’000 | 10,432 | 9,866 | – | – | PDF p. 58 |
| Long-term provisionS$’000 | 405 | 405 | – | – | PDF p. 58 |
| Liabilities and Equity | |||||
| Total Non-Current LiabilitiesS$’000 | 18,577 | 19,567 | – | – | PDF p. 58 |
| Total LiabilitiesS$’000 | 72,038 | 65,048 | 10,300 | 110,223 | PDF p. 58 |
| Liabilities and Equity; Capital and Reserves | |||||
| Share capitalS$’000 | 186,541 | 186,541 | 186,541 | 186,541 | PDF p. 58 |
| Treasury sharesS$’000 | (145) | (145) | – | – | PDF p. 58 |
| ReservesS$’000 | (8,978) | (13,354) | – | – | PDF p. 58 |
| Retained earningsS$’000 | 251,268 | 245,204 | 133,693 | 46,415 | PDF p. 58 |
| SubtotalS$’000 | 428,686 | 418,246 | 320,234 | 232,956 | PDF p. 58 |
| Liabilities and Equity; Equity | |||||
| Non-controlling interestsS$’000 | 27,820 | 25,673 | – | – | PDF p. 58 |
| Liabilities and Equity | |||||
| Total EquityS$’000 | 456,506 | 443,919 | 320,234 | 232,956 | PDF p. 58 |
| Total Liabilities and EquityS$’000 | 528,544 | 508,967 | 330,534 | 343,179 | PDF p. 58 |
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Definitions & sources
Original report: PDF p. 58 ↗
As at 31 December 2025. Dash values are preserved as printed. The accompanying notes form an integral part of the financial statements.
Consolidated statement of changes in equity - 2025
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; attributable to owners - Share capital | 2025Group; attributable to owners - Treasury shares | 2025Group; attributable to owners - Foreign exchange translation reserve | 2025Group; attributable to owners - Retained earnings | 2025Group; attributable to owners - Owners total | 2025Group; non-controlling interests | 2025Group; total equity | Source |
|---|---|---|---|---|---|---|---|---|
| Equity balances | ||||||||
| Balance at 1 January 2025S$’000 | 186,541 | (145) | (13,354) | 245,204 | 418,246 | 25,673 | 443,919 | PDF p. 59 |
| 2025 movements; attributable to owners, non-controlling interests, total equity | ||||||||
| Net profit for the yearS$’000 | – | – | – | 41,596 | 41,596 | 2,021 | 43,617 | PDF p. 59 |
| Other comprehensive income; 2025 movements | ||||||||
| Exchange differences on translation of foreign operationsS$’000 | – | – | 4,376 | – | 4,376 | 126 | 4,502 | PDF p. 59 |
| 2025 movements | ||||||||
| Total comprehensive income for the yearS$’000 | – | – | 4,376 | 41,596 | 45,972 | 2,147 | 48,119 | PDF p. 59 |
| Dividends (Note 27)S$’000 | – | – | – | (35,532) | (35,532) | – | (35,532) | PDF p. 59 |
| Equity balances | ||||||||
| Balance at 31 December 2025S$’000 | 186,541 | (145) | (8,978) | 251,268 | 428,686 | 27,820 | 456,506 | PDF p. 59 |
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Definitions & sources
Original report: PDF p. 59 ↗
Consolidated statement of changes in equity - 2024
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group; attributable to owners - Share capital | 2024Group; attributable to owners - Treasury shares | 2024Group; attributable to owners - Foreign exchange translation reserve | 2024Group; attributable to owners - Retained earnings | 2024Group; attributable to owners - Owners total | 2024Group; non-controlling interests | 2024Group; total equity | Source |
|---|---|---|---|---|---|---|---|---|
| Equity balances | ||||||||
| Balance at 1 January 2024S$’000 | 136,623 | (145) | (21,471) | 244,830 | 359,837 | 27,089 | 386,926 | PDF p. 59 |
| 2024 movements; attributable to owners, non-controlling interests, total equity | ||||||||
| Net profit for the yearS$’000 | – | – | – | 40,607 | 40,607 | 969 | 41,576 | PDF p. 59 |
| Other comprehensive income; 2024 movements | ||||||||
| Exchange differences on translation of foreign operationsS$’000 | – | – | 8,117 | – | 8,117 | (81) | 8,036 | PDF p. 59 |
| 2024 movements | ||||||||
| Total comprehensive income for the yearS$’000 | – | – | 8,117 | 40,607 | 48,724 | 888 | 49,612 | PDF p. 59 |
| Dividends (Note 27)S$’000 | – | – | – | (38,369) | (38,369) | – | (38,369) | PDF p. 59 |
| Acquisition of non-controlling interests (Note 16)S$’000 | – | – | – | (1,864) | (1,864) | (2,304) | (4,168) | PDF p. 59 |
| Issue of ordinary shares (Note 23)S$’000 | 51,600 | – | – | – | 51,600 | – | 51,600 | PDF p. 59 |
| Share issue costs (Note 23)S$’000 | (1,682) | – | – | – | (1,682) | – | (1,682) | PDF p. 59 |
| Equity balances | ||||||||
| Balance at 31 December 2024S$’000 | 186,541 | (145) | (13,354) | 245,204 | 418,246 | 25,673 | 443,919 | PDF p. 59 |
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Original report: PDF p. 59 ↗
Consolidated statement of cash flows
48 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 December 2025 | 2024Group, year ended 31 December 2024 | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before income taxS$’000 | 50,254 | 46,771 | PDF p. 60 |
| Cash flows from operating activities; adjustments | |||
| Depreciation expenseS$’000 | 24,917 | 19,799 | PDF p. 60 |
| Amortisation of intangible assetsS$’000 | 300 | 300 | PDF p. 60 |
| Property, plant and equipment written offS$’000 | 35 | 32 | PDF p. 60 |
| Reversal of non-trade debtsS$’000 | – | (7) | PDF p. 60 |
| Allowance for trade debtsS$’000 | – | 8 | PDF p. 60 |
| Gain on disposal of property, plant and equipmentS$’000 | (967) | (220) | PDF p. 60 |
| Inventories written offS$’000 | 1,164 | – | PDF p. 60 |
| Allowance for inventories obsolescenceS$’000 | 1,752 | 1,684 | PDF p. 60 |
| Interest incomeS$’000 | (962) | (2,208) | PDF p. 60 |
| Interest expenseS$’000 | 480 | 679 | PDF p. 60 |
| Gain on disposal of financial assets through profit or lossS$’000 | – | (726) | PDF p. 60 |
| Unrealised foreign exchange gainS$’000 | (1,222) | (1,193) | PDF p. 60 |
| Cash flows from operating activities | |||
| Operating cash flows before working capital changesS$’000 | 75,751 | 64,919 | PDF p. 60 |
| Cash flows from operating activities; change in working capital | |||
| Decrease in trade receivables and other current assetsS$’000 | 7,667 | 9,834 | PDF p. 60 |
| Increase in inventoriesS$’000 | (45,700) | (95) | PDF p. 60 |
| Increase/(decrease) in trade and other payablesS$’000 | 7,161 | (11,173) | PDF p. 60 |
| Cash flows from operating activities | |||
| Cash generated from operationsS$’000 | 44,879 | 63,485 | PDF p. 60 |
| Income tax paidS$’000 | (5,217) | (8,238) | PDF p. 60 |
| Net cash generated from operating activitiesS$’000 | 39,662 | 55,247 | PDF p. 60 |
| Cash flows from investing activities | |||
| Proceeds from disposal of property, plant and equipment (Note A)S$’000 | 1,072 | 1,124 | PDF p. 60 |
| Purchase of property, plant and equipment (Note B)S$’000 | (38,620) | (33,434) | PDF p. 60 |
| Proceeds from disposal of financial assets through profit or lossS$’000 | – | 1,312 | PDF p. 60 |
| Improvement to investment propertyS$’000 | – | (25) | PDF p. 60 |
| Interest receivedS$’000 | 962 | 2,208 | PDF p. 60 |
| Net cash used in investing activitiesS$’000 | (36,586) | (28,815) | PDF p. 60 |
| Cash flows from financing activities | |||
| Repayment of bank borrowingsS$’000 | (754) | (21,787) | PDF p. 61 |
| Cash flows from financing activities; bank borrowings | |||
| Interest paidS$’000 | (6) | (180) | PDF p. 61 |
| Unlabelled subtotal in source financing cash flows | |||
| SubtotalS$’000 | (760) | (21,967) | PDF p. 61 |
| Cash flows from financing activities; lease liabilities | |||
| Payment of lease liabilitiesS$’000 | (670) | (1,118) | PDF p. 61 |
| Interest paidS$’000 | (474) | (499) | PDF p. 61 |
| Unlabelled subtotal in source financing cash flows | |||
| SubtotalS$’000 | (1,144) | (1,617) | PDF p. 61 |
| Cash flows from financing activities | |||
| Consideration paid for acquisition of non-controlling interestsS$’000 | – | (4,168) | PDF p. 61 |
| Dividends paidS$’000 | (35,532) | (38,369) | PDF p. 61 |
| Proceeds from issues of ordinary sharesS$’000 | – | 51,600 | PDF p. 61 |
| Payment for share issue costsS$’000 | – | (1,682) | PDF p. 61 |
| Net cash used in financing activitiesS$’000 | (37,436) | (16,203) | PDF p. 61 |
| Cash and cash equivalents reconciliation | |||
| Net (decrease)/increase in cash and cash equivalentsS$’000 | (34,360) | 10,229 | PDF p. 61 |
| Cash and cash equivalents at the beginning of the yearS$’000 | 79,928 | 67,458 | PDF p. 61 |
| Net effect of exchange rate changes on the balances of cash and cash equivalents held in foreign currenciesS$’000 | (2,505) | 2,241 | PDF p. 61 |
| Cash and cash equivalents at the end of the yearS$’000 | 43,063 | 79,928 | PDF p. 61 |
| Cash flow reconciliation Note A; proceeds from disposal of property, plant and equipment | |||
| Total net book value of disposal and write-off (Note 17)S$’000 | 140 | 936 | PDF p. 61 |
| Cash flow reconciliation Note A | |||
| Property, plant and equipment written offS$’000 | (35) | (32) | PDF p. 61 |
| Add: Gain on disposal of property, plant and equipmentS$’000 | 967 | 220 | PDF p. 61 |
| Net cash inflow in the financial yearS$’000 | 1,072 | 1,124 | PDF p. 61 |
| Cash flow reconciliation Note B; purchase of property, plant and equipment | |||
| Total additions (Note 17)S$’000 | 48,247 | 25,853 | PDF p. 61 |
| Cash flow reconciliation Note B | |||
| Add: Movement in down-payment to suppliers of property, plant and equipmentS$’000 | (9,627) | 7,581 | PDF p. 61 |
| Net cash outflow in the financial yearS$’000 | 38,620 | 33,434 | PDF p. 61 |
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Definitions & sources
Original report: PDF p. 60 ↗ PDF p. 61 ↗
The statement is a Group cash flow statement; no Company cash flow column is presented. Financing activity subtotals for bank borrowings and lease liabilities are printed without labels. Note A and Note B reconciliations printed with the statement are included. The statement contains no additional footnotes beyond the Note A/Note B references and accompanying-notes notice.
Financial highlights: five-year revenue and net profit attributable to shareholders
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | 2021Group | Source |
|---|---|---|---|---|---|---|
| Financial highlights | ||||||
| REVENUES$ Million | 251.1 | 242.1 | 299.9 | 372.4 | 271.2 | PDF p. 6 |
| NET PROFIT ATTRIBUTABLE TO SHAREHOLDERSS$ Million | 41.6 | 40.6 | 60.0 | 98.2 | 53.1 | PDF p. 6 |
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Definitions & sources
Original report: PDF p. 6 ↗
Financial highlights: cash balances and free cash flow
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | 2021Group | Source |
|---|---|---|---|---|---|---|
| Cash Balances & Free Cash Flow | ||||||
| Cash BalancesS$ Million | 43.1 | 79.9 | 67.5 | 61.7 | 65.1 | PDF p. 6 |
| Free Cash FlowS$ Million | 2.1 | 22.9 | 51.1 | 39.6 | 56.4 | PDF p. 6 |
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Definitions & sources
Original report: PDF p. 6 ↗
Earnings per share
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Net profit attributable to the owners of the CompanyS$’000 | 41,596 | 40,607 | PDF p. 87 |
| Earnings per share — denominator | |||
| Weighted average number of ordinary shares for computation of basic and diluted earnings per shareordinary shares | 710,535,941 | 707,147,963 | PDF p. 87 |
| Earnings per share | |||
| Basic earnings per shareS$ cents per share | 5.85 | 5.74 | PDF p. 87 |
| Diluted earnings per shareS$ cents per share | 5.85 | 5.74 | PDF p. 87 |
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Definitions & sources
Original report: PDF p. 87 ↗
The earnings per share is calculated by dividing the Group’s net profit for the year attributable to the owners of the Company by the weighted average number of ordinary shares outstanding during the financial year.
Diluted earnings per share is the same as basic earnings per share as there were no dilutive potential ordinary shares outstanding as at 31 December 2025 and 2024.
* excludes treasury shares.
Per-share data mentioned in the financial review
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Per-share data | |||
| Group Earnings per Share (EPS)cents per share | 5.85 | 5.74 | PDF p. 8 |
| Net Asset Value per share (NAV)cents per share | 60.35 | 58.88 | PDF p. 8 |
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Definitions & sources
Original report: PDF p. 8 ↗
FY2025 dividends per ordinary share stated in the financial review
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | Source |
|---|---|---|
| Dividends per share | ||
| total dividend declared and proposedSingapore cents per share | 5.0 | PDF p. 9 |
| final dividend proposedSingapore cents per ordinary share | 2.0 | PDF p. 8 |
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Definitions & sources
Original report: PDF p. 9 ↗ PDF p. 8 ↗
The Board proposed a final dividend for FY2025, notwithstanding the 1 for 4 bonus share issue completed at the beginning of 2026. The report says the total declared and proposed dividend includes dividends already paid in each preceding quarter from 1Q2025 to 3Q2025.
Note 27 dividends: declared/paid and proposed components
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Note 27 dividend movement; source category and row label retained | |||
| Final exempt one-tier dividend for 2024 (for 2023: 2.2 cents) per shareS$’000 | 14,211 | 15,632 | PDF p. 109 |
| Interim exempt one-tier dividend for 2025 (for 2024: 3.2 cents) per shareS$’000 | 21,321 | 22,737 | PDF p. 109 |
| Declared and paid during the financial year totalS$’000 | 35,532 | 38,369 | PDF p. 109 |
| Final exempt one-tier dividend for 2025 proposed (for 2024: 2.0 cents) per shareS$’000 | 17,763* | 14,211 | PDF p. 109 |
| Proposed but not recognised as a liability totalS$’000 | 17,763 | 14,211 | PDF p. 109 |
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Definitions & sources
Original report: PDF p. 109 ↗
* Includes 177,631,915 bonus shares. Proposed dividend remains subject to shareholders’ approval and is not recognised as a liability in this report.
Financial highlights: segmental contribution to revenue
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; revenue contribution | 2024Group; revenue contribution | Source |
|---|---|---|---|
| Segmental contribution to revenue | |||
| Semiconductor (Semicon)% | 86 | 84 | PDF p. 6 |
| Aerospace% | 10 | 11 | PDF p. 6 |
| Others% | 4 | 5 | PDF p. 6 |
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Definitions & sources
Original report: PDF p. 6 ↗
Percentage labels are associated by original chart colour and legend, independently visually reviewed by root.
Where the money comes from
Segment information
By business
Business Segments - Group 13 lines
| Item / unit | 2025Semiconductor | 2024Semiconductor | 2025Aerospace | 2024Aerospace | 2025Others | 2024Others | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||
| Sales to external partiesS$'000 | 214,735 | 204,556 | 24,592 | 26,320 | 11,736 | 11,239 | 251,063 | 242,115 | PDF p. 111 |
| Segment resultsS$'000 | 44,025 | 43,287 | 3,403 | 2,600 | 2,826 | 884 | 50,254 | 46,771 | PDF p. 111 |
| Material non-cash items include | |||||||||
| Depreciation expenseS$'000 | 21,997 | 16,757 | 1,918 | 2,175 | 1,002 | 867 | 24,917 | 19,799 | PDF p. 111 |
| Allowance for non-trade debtsS$'000 | – | (7) | – | – | – | – | – | (7) | PDF p. 111 |
| Allowance for trade debtsS$'000 | – | – | – | 8 | – | – | – | 8 | PDF p. 111 |
| Allowance for inventories obsolescenceS$'000 | 1,509 | 1,664 | – | – | 243 | 20 | 1,752 | 1,684 | PDF p. 111 |
| Inventories written offS$'000 | 1,164 | – | – | – | – | – | 1,164 | – | PDF p. 111 |
| Property, plant and equipment written offS$'000 | 35 | 32 | – | – | – | – | 35 | 32 | PDF p. 111 |
| Gain on disposal of property, plant and equipmentS$'000 | (817) | (30) | (148) | (180) | (2) | (10) | (967) | (220) | PDF p. 111 |
| Group | |||||||||
| Total assetsS$'000 | 882,657 | 921,063 | 46,751 | 50,254 | 60,028 | 49,538 | 989,436 | 1,020,855 | PDF p. 111 |
| Total assets include | |||||||||
| Additions to property, plant and equipmentS$'000 | 44,185 | 25,557 | 1,140 | 205 | 2,922 | 91 | 48,247 | 25,853 | PDF p. 111 |
| Improvement to investment propertyS$'000 | – | 25 | – | – | – | – | – | 25 | PDF p. 111 |
| Group | |||||||||
| Total liabilitiesS$'000 | 293,677 | 346,806 | 13,611 | 14,633 | 19,712 | 12,629 | 327,000 | 374,068 | PDF p. 111 |
Notes
Segment assets consist principally of receivables and inventories. Segment liabilities include trade payables and accrued liabilities. Intersegment transfers are eliminated on consolidation.
Reconciliation of total assets for reportable segments to total assets 6 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Total assets | |||
| SemiconductorS$'000 | 882,657 | 921,063 | PDF p. 112 |
| AerospaceS$'000 | 46,751 | 50,254 | PDF p. 112 |
| OthersS$'000 | 60,028 | 49,538 | PDF p. 112 |
| Total assets for reportable segmentsS$'000 | 989,436 | 1,020,855 | PDF p. 112 |
| Elimination of inter-segment assetsS$'000 | (460,892) | (511,888) | PDF p. 112 |
| Total assetsS$'000 | 528,544 | 508,967 | PDF p. 112 |
Reconciliation of total liabilities for reportable segments to total liabilities 6 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Total liabilities | |||
| SemiconductorS$'000 | 293,677 | 346,806 | PDF p. 112 |
| AerospaceS$'000 | 13,611 | 14,633 | PDF p. 112 |
| OthersS$'000 | 19,712 | 12,629 | PDF p. 112 |
| Total liabilities for reportable segmentsS$'000 | 327,000 | 374,068 | PDF p. 112 |
| Elimination of inter-segment liabilitiesS$'000 | (254,962) | (309,020) | PDF p. 112 |
| Total liabilitiesS$'000 | 72,038 | 65,048 | PDF p. 112 |
By geography
Geographical Segments - Group 5 lines
| Item / unit | 2025Singapore | 2024Singapore | 2025USA | 2024USA | 2025Taiwan | 2024Taiwan | 2025Malaysia | 2024Malaysia | 2025Others | 2024Others | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||||||
| Total sales to external partiesS$'000 | 156,591 | 163,060 | 25,644 | 32,618 | 18,137 | 16,541 | 33,289 | 17,457 | 17,402 | 12,439 | 251,063 | 242,115 | PDF p. 113 |
| Non-current assets | |||||||||||||
| Property, plant and equipmentS$'000 | 88,772 | 77,638 | 99 | 71 | – | – | 105,499 | 88,277 | – | – | 194,370 | 165,986 | PDF p. 113 |
| Intangible assetS$'000 | 1,000 | 1,300 | – | – | – | – | – | – | – | – | 1,000 | 1,300 | PDF p. 113 |
| GoodwillS$'000 | 85,427 | 85,427 | – | – | – | – | 924 | 924 | – | – | 86,351 | 86,351 | PDF p. 113 |
| Right-of-use assetsS$'000 | 8,306 | 8,621 | 523 | 714 | – | – | 3 | 10 | – | – | 8,832 | 9,345 | PDF p. 113 |
Notes
Revenue is based on countries of domicile of customers; non-current assets are based on geographical location of assets. Sales in individual countries grouped under 'others' did not contribute more than 5% of total Group sales.
Debt
Borrowings
Liquidity risk maturity profile of financial liabilities (contractual undiscounted cash flows) - Group
| Item / unit | 2025Group Carrying amount | 2025Group Contractual cash flows | 2025Group Within 1 year | 2025Group Within 2 to 5 years | 2025Group Over 5 years | 2024Group Carrying amount | 2024Group Contractual cash flows | 2024Group Within 1 year | 2024Group Within 2 to 5 years | 2024Group Over 5 years | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||||
| Lease liabilitiesS$'000 | 9,571 | 14,728 | 1,090 | 3,646 | 9,992 | 9,948 | 15,495 | 1,120 | 3,851 | 10,524 | PDF p. 121 |
| BorrowingsS$'000 | 754 | 759 | 759 | – | – | PDF p. 121 | |||||
Notes
No borrowings listed for 2025. The carrying amounts of the Company's financial liabilities with a maturity of less than one year are appropriate to the contractual undiscounted cash flow amounts.
Borrowing notes 3 tables
Borrowings
| Item / unit | 2025Group, S$'000 | 2024Group, S$'000 | 2025Company, S$'000 | 2024Company, S$'000 | Source |
|---|---|---|---|---|---|
| Secured | |||||
| Term loan - currentS$'000 | – | 754 | – | – | PDF p. 105 |
Notes
A 5-year temporary bridging loan was granted to a subsidiary in 2020. The secured term loan granted to the subsidiary was repayable over 48 monthly instalments starting from the 13th month from the drawdown date of 30 July 2020. The term loan was fully repaid during the current financial year.
As at 31 December 2025, the factory buildings on leasehold land with a net carrying amount of S$15,847,000 (2024: S$16,732,000) remained pledged as security to a bank.
As at 31 December 2024, the weighted average effective interest rate was between 1.50% and 5.56% per annum.
Statement of financial position - borrowings and lease liabilities
| Item / unit | 2025Group, S$'000 | 2024Group, S$'000 | 2025Company, S$'000 | 2024Company, S$'000 | Source |
|---|---|---|---|---|---|
| Current Liabilities | |||||
| BorrowingsS$'000 | – | 754 | – | – | PDF p. 58 |
| Lease liabilitiesS$'000 | 1,831 | 652 | – | – | PDF p. 58 |
| Non-Current Liabilities | |||||
| Lease liabilitiesS$'000 | 7,740 | 9,296 | – | – | PDF p. 58 |
Foreign currency exposure - borrowings denomination (Group, 2024)
| Item / unit | 2024Group Singapore Dollar, S$'000 | 2024Group Total, S$'000 | Source |
|---|---|---|---|
| Financial liabilities 2024 | |||
| BorrowingsS$'000 | (754) | (754) | PDF p. 123 |
Notes
Borrowings denominated entirely in Singapore Dollar; other currency columns (Yen, Euro, Ringgit, USD, Renminbi) are '–'.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company has adopted a dividend policy since 15 May 2012 to declare dividends on a quarterly basis. The form, frequency, the amount of any dividend will depend on the Group’s earnings and financial position, results of operation, capital expenditure requirements, future expansion and investment plans, profit after tax position, other funding requirements, and other factors. The Directors will continually review the dividend policy and reserve the right to update, amend, modify or cancel this dividend policy. | Company/Group | PDF p. 43 |
| Dividend policy aim | The dividend policy of the Company aims to provide shareholders with a sustainable and progressive dividend that is consistent with the Company’s long term growth. | Company | PDF p. 44 |
| Bonus Shares | ONE (1) bonus share for every FOUR (4) existing ordinary shares | Group, January 2026 | PDF p. 9 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Over the past five years, total annual dividends | Over the past five years, the Group has declared total annual dividends at the rate of approximately 34% to 95% of the net profit after tax based on the audited consolidated financial statements. | Group, past five years | PDF p. 43 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Final exempt (one-tier) dividend for 2025 | 2.0 cents per share | FY2025 proposed final, per ordinary share; Group · As at 2025-12-31 | PDF p. 109 |
| Proposed Final Dividend payment | 22 May 2026 | FY2025 proposed final dividend | PDF p. 140 |
| Notice of record date for the proposed final dividend | 8 May 2026 | FY2025 proposed final dividend | PDF p. 140 |
| Interim exempt (one-tier) dividend for 2025 | 3.0 cents per share | FY2025 interim dividends declared and paid, per share; Group | PDF p. 109 |
| Final exempt (one-tier) dividend for 2024 | 2.0 cents per share | FY2024 final dividend paid in 2025, per share; Group | PDF p. 109 |
Extracted from 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 | Moore Stephens LLP | Group | PDF p. 55 |
| Engagement partner | Ms Chong Jia Yun, Michelle | Group | PDF p. 55 |
| Opinion | true and fair view | Group | PDF p. 51 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Allowance for inventory obsolescence | Allowance for inventory obsolescence | Group | PDF p. 52 |
| Impairment review of goodwill | Impairment review of goodwill | Group | PDF p. 53 |
Extracted from 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 ANNUAL REPORT 2025, 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.