Heeton Holdings Limited Annual Report 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| Revenue$’000 | 81,180 | 78,160 | PDF p. 53 |
| Other operating income$’000 | 2,424 | 2,420 | PDF p. 53 |
| Expenses | |||
| Personnel expenses$’000 | (25,149) | (23,423) | PDF p. 53 |
| Depreciation of property, plant and equipment$’000 | (6,727) | (5,740) | PDF p. 53 |
| Other operating expenses$’000 | (30,288) | (29,363) | PDF p. 53 |
| Finance expenses$’000 | (26,603) | (29,510) | PDF p. 53 |
| Income | |||
| Finance income$’000 | 1,461 | 1,300 | PDF p. 53 |
| Expenses | |||
| Impairment losses on financial assets$’000 | (4,945) | (7,139) | PDF p. 53 |
| Income and expenses | |||
| Fair value (losses)/gain on derivative financial instruments$’000 | (2,435) | 16 | PDF p. 53 |
| Fair value (loss)/gain on investment security$’000 | (429) | 2,572 | PDF p. 53 |
| (Impairment)/reversal of impairment of property, plant and equipment$’000 | (916) | 4,341 | PDF p. 53 |
| Share of results of associated companies and joint venture companies$’000 | 3,843 | 2,214 | PDF p. 53 |
| Income | |||
| Gains from fair value adjustments of investment properties$’000 | 1,361 | 3,513 | PDF p. 53 |
| Gain on disposal of property, plant and equipment$’000 | – | 650 | PDF p. 53 |
| Gain on disposal of subsidiaries$’000 | – | 3,776 | PDF p. 53 |
| Profit or loss | |||
| (Loss)/profit before tax$’000 | (7,223) | 3,787 | PDF p. 53 |
| Income tax expense$’000 | (2,828) | (3,062) | PDF p. 53 |
| (Loss)/profit for the year$’000 | (10,051) | 725 | PDF p. 53 |
| Other comprehensive income; Item that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation$’000 | 889 | 8,510 | PDF p. 53 |
| Other comprehensive income | |||
| Other comprehensive income for the year, net of tax$’000 | 889 | 8,510 | PDF p. 53 |
| Comprehensive income | |||
| Total comprehensive (loss)/income for the year$’000 | (9,162) | 9,235 | PDF p. 53 |
| (Loss)/profit for the year attributable to | |||
| Owners of the Company$’000 | (9,259) | (1,375) | PDF p. 53 |
| Non-controlling interests$’000 | (792) | 2,100 | PDF p. 53 |
| (Loss)/profit for the year attributable to; subtotal | |||
| Subtotal$’000 | (10,051) | 725 | PDF p. 53 |
| Total comprehensive (loss)/income for the year attributable to | |||
| Owners of the Company$’000 | (7,952) | 7,893 | PDF p. 53 |
| Non-controlling interests$’000 | (1,210) | 1,342 | PDF p. 53 |
| Total comprehensive (loss)/income for the year attributable to; subtotal | |||
| Subtotal$’000 | (9,162) | 9,235 | PDF p. 53 |
| Earnings per share attributable to owners of the Company (cents per share) | |||
| Basiccents per share | (1.90) | (0.28) | PDF p. 53 |
| Dilutedcents per share | (1.90) | (0.28) | PDF p. 53 |
Original report: PDF p. 53 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipment$’000 | 422,963 | 418,830 | PDF p. 54 |
| Investment properties$’000 | 228,590 | 226,817 | PDF p. 54 |
| Subsidiaries$’000 | – | – | PDF p. 54 |
| Associated companies$’000 | 25,881 | 15,196 | PDF p. 54 |
| Joint venture companies$’000 | 93,347 | 94,011 | PDF p. 54 |
| Investment securities$’000 | 7,172 | 7,201 | PDF p. 54 |
| Amounts due from associated companies and$’000 | 76,184 | 54,466 | PDF p. 54 |
| Other receivables$’000 | 34,033 | 30,571 | PDF p. 54 |
| Deferred tax assets$’000 | 1,370 | 1,372 | PDF p. 54 |
| Non-current assets; subtotal | |||
| Subtotal$’000 | 889,540 | 848,464 | PDF p. 54 |
| Current assets | |||
| Development property$’000 | 22,054 | 20,664 | PDF p. 54 |
| Trade receivables$’000 | 2,987 | 2,542 | PDF p. 54 |
| Other receivables$’000 | 29,744 | 35,160 | PDF p. 54 |
| Prepayments$’000 | 1,500 | 1,546 | PDF p. 54 |
| Amounts due from subsidiaries (non-trade)$’000 | – | – | PDF p. 54 |
| Amounts due from related parties (trade)$’000 | 1 | 1 | PDF p. 54 |
| Amounts due from associated companies and$’000 | 5,087 | 20,332 | PDF p. 54 |
| Derivative financial instruments$’000 | – | 24 | PDF p. 54 |
| Treasury bills$’000 | – | 2,000 | PDF p. 54 |
| Fixed deposits$’000 | 10,276 | 19,984 | PDF p. 54 |
| Cash and bank balances$’000 | 40,440 | 34,599 | PDF p. 54 |
| Current assets; subtotal | |||
| Subtotal$’000 | 112,089 | 136,852 | PDF p. 54 |
| Current liabilities | |||
| Trade payables$’000 | 1,998 | 1,750 | PDF p. 54 |
| Other payables and accruals$’000 | 16,887 | 18,964 | PDF p. 54 |
| Amounts due to subsidiaries (non-trade)$’000 | – | – | PDF p. 54 |
| Lease liabilities$’000 | 88 | 48 | PDF p. 54 |
| Bonds$’000 | 53,800 | – | PDF p. 54 |
| Bank term loans$’000 | 39,898 | 57,636 | PDF p. 54 |
| Income tax payable$’000 | 3,703 | 4,780 | PDF p. 54 |
| Current liabilities; subtotal | |||
| Subtotal$’000 | 116,374 | 83,178 | PDF p. 54 |
| Balance sheet | |||
| Net current (liabilities)/assets$’000 | (4,285) | 53,674 | PDF p. 54 |
| Non-current liabilities | |||
| Other payables and accruals$’000 | 1,656 | 1,571 | PDF p. 55 |
| Lease liabilities$’000 | 5,450 | 5,205 | PDF p. 55 |
| Amounts due to associated companies and$’000 | 44,226 | 46,078 | PDF p. 55 |
| Amounts due to non-controlling interests$’000 | 71,887 | 68,508 | PDF p. 55 |
| Derivative financial instruments$’000 | 2,416 | – | PDF p. 55 |
| Bonds$’000 | – | 53,800 | PDF p. 55 |
| Bank term loans$’000 | 345,879 | 303,005 | PDF p. 55 |
| Deferred tax liabilities$’000 | 2,715 | 2,113 | PDF p. 55 |
| Non-current liabilities; subtotal | |||
| Subtotal$’000 | 474,229 | 480,280 | PDF p. 55 |
| Balance sheet | |||
| Net assets$’000 | 411,026 | 421,858 | PDF p. 55 |
| Equity attributable to owners of the Company | |||
| Share capital$’000 | 86,624 | 86,624 | PDF p. 55 |
| Treasury shares$’000 | (120) | (63) | PDF p. 55 |
| Foreign currency translation reserve$’000 | (4,963) | (6,270) | PDF p. 55 |
| Retained earnings$’000 | 339,027 | 350,722 | PDF p. 55 |
| Equity attributable to owners of the Company; subtotal | |||
| Subtotal$’000 | 420,568 | 431,013 | PDF p. 55 |
| Equity | |||
| Non-controlling interests$’000 | (9,542) | (9,155) | PDF p. 55 |
| Total equity$’000 | 411,026 | 421,858 | PDF p. 55 |
Original report: PDF p. 54 ↗ PDF p. 55 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipment$’000 | 590 | 273 | PDF p. 54 |
| Subsidiaries$’000 | 41,237 | 41,237 | PDF p. 54 |
| Associated companies$’000 | – | – | PDF p. 54 |
| Joint venture companies$’000 | 5,000 | 5,000 | PDF p. 54 |
| Investment securities$’000 | – | – | PDF p. 54 |
| Other receivables$’000 | – | 17,300 | PDF p. 54 |
| Deferred tax assets$’000 | – | – | PDF p. 54 |
| Current assets | |||
| Development property$’000 | – | – | PDF p. 54 |
| Trade receivables$’000 | – | – | PDF p. 54 |
| Other receivables$’000 | 11,929 | 52 | PDF p. 54 |
| Prepayments$’000 | 333 | 583 | PDF p. 54 |
| Amounts due from subsidiaries (non-trade)$’000 | 319,703 | 301,722 | PDF p. 54 |
| Amounts due from related parties (trade)$’000 | 1 | 1 | PDF p. 54 |
| Amounts due from associated companies and$’000 | 2,227 | 4,419 | PDF p. 54 |
| Derivative financial instruments$’000 | – | 24 | PDF p. 54 |
| Treasury bills$’000 | – | 2,000 | PDF p. 54 |
| Fixed deposits$’000 | 6,643 | 19,984 | PDF p. 54 |
| Cash and bank balances$’000 | 7,753 | 3,561 | PDF p. 54 |
| Current liabilities | |||
| Trade payables$’000 | 44 | 656 | PDF p. 54 |
| Other payables and accruals$’000 | 1,445 | 2,544 | PDF p. 54 |
| Amounts due to subsidiaries (non-trade)$’000 | 195,260 | 185,216 | PDF p. 54 |
| Lease liabilities$’000 | 79 | 39 | PDF p. 54 |
| Bonds$’000 | 53,800 | – | PDF p. 54 |
| Bank term loans$’000 | 7,000 | 16,485 | PDF p. 54 |
| Balance sheet | |||
| Net current (liabilities)/assets$’000 | 90,961 | 127,406 | PDF p. 54 |
| Non-current liabilities | |||
| Other payables and accruals$’000 | – | – | PDF p. 55 |
| Lease liabilities$’000 | 230 | 98 | PDF p. 55 |
| Amounts due to associated companies and$’000 | 35,823 | 36,411 | PDF p. 55 |
| Amounts due to non-controlling interests$’000 | – | – | PDF p. 55 |
| Derivative financial instruments$’000 | 56 | – | PDF p. 55 |
| Bonds$’000 | – | 53,800 | PDF p. 55 |
| Deferred tax liabilities$’000 | 173 | 154 | PDF p. 55 |
| Balance sheet | |||
| Net assets$’000 | 101,506 | 100,753 | PDF p. 55 |
| Equity attributable to owners of the Company | |||
| Share capital$’000 | 86,624 | 86,624 | PDF p. 55 |
| Treasury shares$’000 | (120) | (63) | PDF p. 55 |
| Retained earnings$’000 | 15,002 | 14,192 | PDF p. 55 |
| Equity attributable to owners of the Company; subtotal | |||
| Subtotal$’000 | 101,506 | 100,753 | PDF p. 55 |
| Equity | |||
| Total equity$’000 | 101,506 | 100,753 | PDF p. 55 |
Original report: PDF p. 54 ↗ PDF p. 55 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$’000 | 81,180 | 78,160 | PDF p. 53 |
| Other operating income$’000 | 2,424 | 2,420 | PDF p. 53 |
| Personnel expenses$’000 | (25,149) | (23,423) | PDF p. 53 |
| Depreciation of property, plant and equipment$’000 | (6,727) | (5,740) | PDF p. 53 |
| Other operating expenses$’000 | (30,288) | (29,363) | PDF p. 53 |
| Finance expenses$’000 | (26,603) | (29,510) | PDF p. 53 |
| Finance income$’000 | 1,461 | 1,300 | PDF p. 53 |
| Impairment losses on financial assets$’000 | (4,945) | (7,139) | PDF p. 53 |
| Fair value (losses)/gain on derivative financial instruments$’000 | (2,435) | 16 | PDF p. 53 |
| Fair value (loss)/gain on investment security$’000 | (429) | 2,572 | PDF p. 53 |
| (Impairment)/reversal of impairment of property, plant and equipment$’000 | (916) | 4,341 | PDF p. 53 |
| Share of results of associated companies and joint venture companies$’000 | 3,843 | 2,214 | PDF p. 53 |
| Gains from fair value adjustments of investment properties$’000 | 1,361 | 3,513 | PDF p. 53 |
| Gain on disposal of property, plant and equipment$’000 | – | 650 | PDF p. 53 |
| Gain on disposal of subsidiaries$’000 | – | 3,776 | PDF p. 53 |
| (Loss)/profit before tax$’000 | (7,223) | 3,787 | PDF p. 53 |
| Income tax expense$’000 | (2,828) | (3,062) | PDF p. 53 |
| (Loss)/profit for the year$’000 | (10,051) | 725 | PDF p. 53 |
| Other comprehensive income | |||
| Foreign currency translation$’000 | 889 | 8,510 | PDF p. 53 |
| Other comprehensive income for the year, net of tax$’000 | 889 | 8,510 | PDF p. 53 |
| Total comprehensive income | |||
| Total comprehensive (loss)/income for the year$’000 | (9,162) | 9,235 | PDF p. 53 |
| Attribution of (loss)/profit for the year | |||
| Owners of the Company$’000 | (9,259) | (1,375) | PDF p. 53 |
| Non-controlling interests$’000 | (792) | 2,100 | PDF p. 53 |
| Total attributable (loss)/profit for the year$’000 | (10,051) | 725 | PDF p. 53 |
| Attribution of total comprehensive (loss)/income for the year | |||
| Owners of the Company$’000 | (7,952) | 7,893 | PDF p. 53 |
| Non-controlling interests$’000 | (1,210) | 1,342 | PDF p. 53 |
| Total attributable comprehensive (loss)/income for the year$’000 | (9,162) | 9,235 | PDF p. 53 |
| Earnings per share attributable to owners of the Company (cents per share) | |||
| Basiccents per share | (1.90) | (0.28) | PDF p. 53 |
| Dilutedcents per share | (1.90) | (0.28) | PDF p. 53 |
Original report: PDF p. 53 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| (Loss)/profit before tax$’000 | (7,223) | 3,787 | PDF p. 57 |
| Adjustments | |||
| Depreciation of property, plant and equipment$’000 | 6,727 | 5,740 | PDF p. 57 |
| Gain on disposal of property, plant and equipment$’000 | – | (650) | PDF p. 57 |
| Fair value losses/(gains) on derivative financial instruments$’000 | 2,435 | (16) | PDF p. 57 |
| Fair value loss/(gain) on investment security$’000 | 429 | (2,572) | PDF p. 57 |
| Impairment/(Reversal of impairment) of property, plant and equipment$’000 | 916 | (4,341) | PDF p. 57 |
| Gains from fair value adjustments of investment properties$’000 | (1,361) | (3,513) | PDF p. 57 |
| Gain on disposal of subsidiaries$’000 | – | (3,776) | PDF p. 57 |
| Impairment on financial assets$’000 | 4,945 | 7,139 | PDF p. 57 |
| Share of results of associated companies and joint venture companies$’000 | (3,843) | (2,214) | PDF p. 57 |
| Interest expense$’000 | 26,603 | 29,510 | PDF p. 57 |
| Interest income$’000 | (1,461) | (1,300) | PDF p. 57 |
| Goodwill written off$’000 | – | 109 | PDF p. 57 |
| Unrealised exchange differences$’000 | 946 | 1,306 | PDF p. 57 |
| Total adjustments$’000 | 36,336 | 25,422 | PDF p. 57 |
| Cash flows from operating activities | |||
| Operating cash flows before changes in working capital$’000 | 29,113 | 29,209 | PDF p. 57 |
| Changes in working capital | |||
| Increase in development property$’000 | (1,055) | (1,145) | PDF p. 57 |
| Increase in trade receivables$’000 | (436) | (1,400) | PDF p. 57 |
| Decrease in other receivables$’000 | 2,007 | 3,888 | PDF p. 57 |
| Decrease in prepayments$’000 | 59 | 1,087 | PDF p. 57 |
| Increase/(Decrease) in trade payables$’000 | 237 | (1,829) | PDF p. 57 |
| (Decrease)/Increase in other payables and accruals$’000 | (2,071) | 323 | PDF p. 57 |
| Decrease in amounts due from related parties, net$’000 | – | 63 | PDF p. 57 |
| Total changes in working capital$’000 | (1,259) | 987 | PDF p. 57 |
| Cash flows from operating activities | |||
| Cash flows from operations$’000 | 27,854 | 30,196 | PDF p. 57 |
| Interest received$’000 | 1,461 | 1,300 | PDF p. 57 |
| Interest paid, excluding amounts capitalised$’000 | (26,603) | (29,510) | PDF p. 57 |
| Income taxes paid$’000 | (2,998) | (4,153) | PDF p. 57 |
| Net cash flows used in operating activities$’000 | (286) | (2,167) | PDF p. 57 |
| Cash flows from investing activities | |||
| Proceeds from disposal of property, plant and equipment$’000 | – | 26,426 | PDF p. 57 |
| Additions to property, plant and equipment$’000 | (7,719) | (40,357) | PDF p. 57 |
| Addition to investment security$’000 | (400) | – | PDF p. 57 |
| Dividend income from joint venture companies$’000 | 3,500 | 3,800 | PDF p. 57 |
| Net loan to associated companies and joint venture companies$’000 | (22,977) | (24,446) | PDF p. 57 |
| Proceeds from disposal of subsidiaries$’000 | – | 11,366 | PDF p. 57 |
| Proceeds on maturity of treasury bills$’000 | 2,000 | 8,586 | PDF p. 57 |
| Net cash flows used in investing activities$’000 | (25,596) | (14,625) | PDF p. 57 |
| Cash flows from financing activities | |||
| Proceeds from bank loans$’000 | 40,043 | 34,389 | PDF p. 58 |
| Repayment of bank loans$’000 | (17,913) | (23,596) | PDF p. 58 |
| Purchase of treasury shares$’000 | (57) | – | PDF p. 58 |
| Payments of principal portion of lease liabilities$’000 | (144) | (356) | PDF p. 58 |
| Loan from/(Repayment of loan) to non-controlling interests$’000 | 2,902 | (1,541) | PDF p. 58 |
| Dividends paid on ordinary shares of the Company$’000 | (2,436) | (1,829) | PDF p. 58 |
| Release of/(Restricted) cash pledge for bank facility$’000 | 21,038 | (22,977) | PDF p. 58 |
| Net cash from/(used in) financing activities$’000 | 43,433 | (15,910) | PDF p. 58 |
| Cash flows | |||
| Net increase/(decrease) in cash and cash equivalents$’000 | 17,551 | (32,702) | PDF p. 58 |
| Effect of exchange rate changes on cash and cash equivalents$’000 | (380) | 230 | PDF p. 58 |
| Cash and cash equivalents at beginning of year$’000 | 29,851 | 62,323 | PDF p. 58 |
| Cash and cash equivalents at end of year$’000 | 47,022 | 29,851 | PDF p. 58 |
| Cash and cash equivalents composition | |||
| Fixed deposits$’000 | 10,276 | 19,984 | PDF p. 58 |
| Cash and bank balances$’000 | 40,440 | 34,599 | PDF p. 58 |
| Total cash and bank balances$’000 | 50,716 | 54,583 | PDF p. 58 |
| Restricted cash – cash pledge for bank facility$’000 | (3,694) | (24,732) | PDF p. 58 |
| Cash and cash equivalents at end of year$’000 | 47,022 | 29,851 | PDF p. 58 |
Original report: PDF p. 57 ↗ PDF p. 58 ↗
Cash and cash equivalents consist of fixed deposits and cash and bank balances, as follows:
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025FY2025, proposed final dividend | 2024FY2024, proposed final dividend | Source |
|---|---|---|---|
| Dividend per share | |||
| proposed final dividendcents per share | 0.50 | 0.50 | PDF p. 7 |
Original report: PDF p. 7 ↗
The report describes the FY2025 final dividend as proposed. The CEO message provides the FY2024 comparative amount.
Where the money comes from
| Item / unit | 2025Property investment | 2025Property development | 2025Corporate | 2025Hospitality | 2025Elimination | 2025Consolidated | 2024Property investment | 2024Property development | 2024Corporate | 2024Hospitality | 2024Elimination | 2024Consolidated | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| Sales to external customers$'000 | 12,835 | − | 717 | 67,628 | − | 81,180 | 12,622 | − | 859 | 64,679 | − | 78,160 | PDF p. 133PDF p. 134 |
| Inter-segment revenue$'000 | 827 | − | 8,060 | 8,586 | (17,473) | − | 820 | − | 7,705 | 9,427 | (17,952) | − | PDF p. 133PDF p. 134 |
| Total revenue$'000 | 13,662 | − | 8,777 | 76,214 | (17,473) | 81,180 | 13,442 | − | 8,564 | 74,106 | (17,952) | 78,160 | PDF p. 133PDF p. 134 |
| Results | |||||||||||||
| Finance income$'000 | − | − | 32,414 | − | (30,953) | 1,461 | − | − | 30,721 | − | (29,421) | 1,300 | PDF p. 133PDF p. 134 |
| Finance expense$'000 | (5,067) | − | (31,863) | (19,962) | 30,289 | (26,603) | (6,299) | − | (30,672) | (21,158) | 28,619 | (29,510) | PDF p. 133PDF p. 134 |
| Fair value losses on derivative financial instruments$'000 | − | − | (2,435) | − | − | (2,435) | PDF p. 133 | ||||||
| Fair value loss on investment security$'000 | − | (429) | − | − | − | (429) | PDF p. 133 | ||||||
| Impairment of property, plant and equipment$'000 | − | − | − | (916) | − | (916) | PDF p. 133 | ||||||
| Gain from fair value adjustments of investment properties$'000 | 1,361 | − | − | − | − | 1,361 | 3,513 | − | − | − | − | 3,513 | PDF p. 133PDF p. 134 |
| Depreciation of property, plant and equipment$'000 | (99) | − | (314) | (6,314) | − | (6,727) | (44) | − | (293) | (5,403) | − | (5,740) | PDF p. 133PDF p. 134 |
| (Impairment losses)/reversal of impairment on financial assets$'000 | (137) | (950) | (5,425) | 1,567 | − | (4,945) | PDF p. 133 | ||||||
| Share of results of associated companies/joint venture companies$'000 | 3,391 | 71 | 9 | 372 | − | 3,843 | 3,233 | (860) | 33 | (192) | − | 2,214 | PDF p. 133PDF p. 134 |
| Segment profit/(loss) before tax$'000 | 9,078 | (1,328) | (21,249) | 6,940 | (664) | (7,223) | 9,726 | 1,704 | (15,203) | 8,362 | (802) | 3,787 | PDF p. 133PDF p. 134 |
| Assets | |||||||||||||
| Investment in associated companies/joint venture companies$'000 | 92,633 | 13,900 | − | 12,695 | − | 119,228 | 92,530 | 634 | − | 16,043 | − | 109,207 | PDF p. 133PDF p. 134 |
| Additions to non-current assets1$'000 | 513 | – | 495 | 6,711 | − | 7,719 | 161 | − | 232 | 39,964 | − | 40,357 | PDF p. 133PDF p. 134 |
| Segment assets$'000 | 259,187 | 78,475 | 1,079,506 | 565,312 | (980,851) | 1,001,629 | 252,621 | 45,669 | 1,128,710 | 581,808 | (1,023,492) | 985,316 | PDF p. 133PDF p. 134 |
| Liabilities | |||||||||||||
| Segment liabilities$'000 | 174,111 | 33,717 | 982,725 | 327,888 | (927,838) | 590,603 | 185,881 | 38,443 | 1,028,017 | 294,145 | (983,028) | 563,458 | PDF p. 133PDF p. 134 |
| Results | |||||||||||||
| Fair value gains on derivative financial instruments$'000 | − | − | 16 | − | − | 16 | PDF p. 134 | ||||||
| Fair value gain on investment security$'000 | − | 2,572 | − | − | − | 2,572 | PDF p. 134 | ||||||
| Reversal of impairment of property, plant and equipment$'000 | − | − | − | 4,341 | − | 4,341 | PDF p. 134 | ||||||
| Gain on disposal of property, plant and equipment$'000 | − | − | − | 650 | − | 650 | PDF p. 134 | ||||||
| Gain on disposal of assets subsidiaries$'000 | − | − | − | 3,776 | − | 3,776 | PDF p. 134 | ||||||
| Impairment losses on financial assets$'000 | − | − | (6,119) | (1,020) | − | (7,139) | PDF p. 134 | ||||||
Footnote 1: Additions to non-current assets consist of additions to property, plant and equipment.
Note column references: A Inter-segment revenue, finance income and finance expense are eliminated on consolidation. B Items added to/(deducted from) segment profit/(loss) to arrive at profit before tax: finance expenses 30,289 (2024: 28,619); finance income (30,953) (2024: (29,421)); total (664) (2024: (802)). C Items added to/(deducted from) segment assets: investment in subsidiaries (189,075); development property (2,682); intra-group loans (789,094); total (980,851). D Intra-group loans deducted from segment liabilities (927,838).
Segment performance is evaluated based on operating profit or loss; group financing and income taxes are managed on a group basis and not allocated to segments.
Note column references: A inter-segment revenue, finance income and finance expense eliminated on consolidation; B reconciling items to profit before tax: finance expenses 28,619, finance income (29,421), total (802); C reconciling items to total assets: investment in subsidiaries (186,824), development property (2,309), intra-group loans (834,359), total (1,023,492); D intra-group loans deducted from segment liabilities (983,028).
| Item / unit | 2025Revenue | 2024Revenue | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$'000 | 10,635 | 10,728 | 578,025 | 552,112 | PDF p. 132 |
| United Kingdom$'000 | 68,234 | 65,637 | 273,347 | 271,401 | PDF p. 132 |
| Japan$'000 | 1,657 | 1,795 | 13,912 | 15,139 | PDF p. 132 |
| Others$'000 | 654 | − | 24,256 | 9,812 | PDF p. 132 |
| Total$'000 | 81,180 | 78,160 | 889,540 | 848,464 | PDF p. 132 |
Revenue and non-current assets are based on geographical location of customers and assets respectively.
Non-current assets information presented above consist mainly of property, plant and equipment and investment properties as presented in the consolidated balance sheet.
The total row has no printed label.
Debt
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Bank term loans | |||||
| Unsecured$'000 | 7,000 | 4,659 | 7,000 | 4,659 | PDF p. 112 |
| Secured$'000 | 378,777 | 355,982 | – | 11,826 | PDF p. 112 |
| Total bank term loans$'000 | 385,777 | 360,641 | 7,000 | 16,485 | PDF p. 112 |
| Repayable | |||||
| - not later than 1 year$'000 | 39,898 | 57,636 | 7,000 | 16,485 | PDF p. 112 |
| - 1 year through 5 years$'000 | 345,879 | 303,005 | – | – | PDF p. 112 |
Terms loans are generally secured by: first legal mortgage over the investment properties and freehold and leasehold properties of the Group; legal assignment of all sales and leasehold proceeds from the investment properties and freehold and leasehold properties; legal assignment of tenancy, rental, lease and licence agreements; legal assignment of construction contracts and performance bonds; legal assignment of fire insurance policy; and corporate guarantee by the Company.
Total row has no printed label; it is the subtotal beneath Secured.
No repayment after 5 years category printed.
| Item / unit | 20251 year or less | 20251 to 5 years | 2025Total | 20241 year or less | 20241 to 5 years | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Non-derivative financial liabilities | |||||||
| Lease liabilities$'000 | 339 | 107,942 | 108,281 | 293 | 106,938 | 107,231 | PDF p. 126PDF p. 127 |
| Loans and borrowings$'000 | 106,810 | 555,533 | 662,343 | 66,509 | 565,393 | 631,902 | PDF p. 126PDF p. 127 |
Based on contractual undiscounted payments. Approximately 16% (2024: 11%) of the Group’s loans and borrowings (Note 39) will mature in less than one year based on the carrying amount.
Based on contractual undiscounted payments.
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Loans and borrowings (current) | |||||
| Lease liabilities$'000 | 88 | 48 | 79 | 39 | PDF p. 119 |
| Bonds$'000 | 53,800 | – | 53,800 | – | PDF p. 119 |
| Bank term loans$'000 | 39,898 | 57,636 | 7,000 | 16,485 | PDF p. 119 |
| Amounts due to subsidiaries (non-trade)$'000 | – | – | 195,260 | 185,216 | PDF p. 119 |
| Total loans and borrowings (current)$'000 | 93,786 | 57,684 | 256,139 | 201,740 | PDF p. 119 |
Subtotal row has no printed label. Category: financial liabilities measured at amortised cost.
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Loans and borrowings (non-current) | |||||
| Amounts due to associated companies and joint venture companies (non-trade)$'000 | 44,226 | 46,078 | 35,823 | 36,411 | PDF p. 120 |
| Amounts due to non-controlling interests (non-trade)$'000 | 71,887 | 68,508 | – | – | PDF p. 120 |
| Lease liabilities$'000 | 5,450 | 5,205 | 230 | 98 | PDF p. 120 |
| Bonds$'000 | – | 53,800 | – | 53,800 | PDF p. 120 |
| Bank term loans$'000 | 345,879 | 303,005 | – | – | PDF p. 120 |
| Total loans and borrowings (non-current subtotal)$'000 | 467,442 | 476,596 | 36,053 | 90,309 | PDF p. 120 |
| Total | |||||
| Total loans and borrowings$'000 | 561,228 | 534,280 | 292,192 | 292,049 | PDF p. 120 |
Non-current subtotal has no printed label. Bonds reclassified to current in 2025 (see Note 30). Non-current bank term loans and bonds are floating rate.
| Item / unit | 2025Group, 31.12.2025 closing balance | Source |
|---|---|---|
| Reconciliation | ||
| Bank term loans (Note 29) - current$'000 | 39,898 | PDF p. 113 |
| Bonds (Note 27) - current$'000 | 53,800 | PDF p. 113 |
Bonds of $53,800,000 reclassified from non-current to current; bonds carry floating rates per Note 40(c). Bond coupon/maturity date not found in pages read.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a fixed dividend policy. The form, frequency and amount of dividends will depend on the Group’s earnings, general financial condition, results of operations, capital requirement, cashflow, general business condition, development plans and other factors as Directors may deem appropriate. | Company | PDF p. 42 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Final exempt (one-tier) dividend for 2025 | 0.500 cents per share | Group and Company, FY2025 proposed, subject to shareholders’ approval at the AGM; not recognised as liability | PDF p. 135 |
| Final exempt (one-tier) dividend for 2024 | 0.500 cents per share | Group and Company, FY2024 final dividend declared and paid during FY2025 | PDF p. 135 |
| Final exempt (one-tier) dividend for 2023 | 0.375 cents per share | Group and Company, FY2023 final dividend paid during FY2024 (comparative) | PDF p. 135 |
| Proposed final dividend FY2025 | 0.50 cents per share | Company, FY2025 vs FY2024 | PDF p. 7 |
Extracted from Heeton Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | Ernst & Young LLP | Group and Company, FY2025 | PDF p. 52 |
| Engagement partner | Mr. Lim Tze Yuen | Group and Company, FY2025 | PDF p. 52 |
| Opinion | true and fair view | Group and Company, FY2025 | PDF p. 48 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern uncertainty | The Group’s ability to continue as a going concern depends on the bondholders’ commitment to continue subscribing to the Group’s bond issuance based on their existing commitments. | Group, 31 December 2025 | PDF p. 59 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of investment properties | The valuation of the investment properties is a significant judgemental area and is dependent on a number of assumptions including, but not limited to, yield adjustments made for any difference in nature, location or condition of the specific property. | Group, 31 December 2025 | PDF p. 48 |
| Impairment assessment on carrying value of hotel properties | The process of identifying indicators of impairment and assessing the recoverable amount of each hotel property involves significant management judgement and estimation. | Group, 31 December 2025 | PDF p. 49 |
| Impairment assessment of the Group’s and Company’s interest in subsidiaries, associated companies and joint | We identified this as a key audit matter because the interests in subsidiaries, associated companies and joint venture companies are material to the Group’s and the Company’s financial statements, and the valuation and impairment assessment involve significant management judgement and heighten level of estimation uncertainty arising from the volatility in market and current economic conditions. | Group and Company, 31 December 2025 | PDF p. 50 |
Extracted from Heeton Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Heeton Holdings Limited 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.