Soup Holdings 5KI
Financials
Annual Report 2025
Auditor’s opinion: a true and fair view. Read auditor’s report (PDF p. 77)
Explore the statements
31 tablesGroup statement of financial position
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / as at 31 December 2025 | 2024Group / as at 31 December 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Plant and equipmentSingapore dollars | 2,674,775 | 2,638,823 | PDF p. 82 |
| Investments in subsidiariesSingapore dollars | – | – | PDF p. 82 |
| Intangible assetsSingapore dollars | 38,032 | 118,400 | PDF p. 82 |
| Right-of-use assetsSingapore dollars | 10,018,896 | 10,901,907 | PDF p. 82 |
| Deferred tax assetsSingapore dollars | 371,186 | 408,770 | PDF p. 82 |
| Total non-current assetsSingapore dollars | 13,102,889 | 14,067,900 | PDF p. 82 |
| Current assets | |||
| InventoriesSingapore dollars | 256,525 | 217,638 | PDF p. 82 |
| Trade and other receivablesSingapore dollars | 2,398,428 | 2,006,985 | PDF p. 82 |
| Current income tax recoverableSingapore dollars | – | 432 | PDF p. 82 |
| Cash and cash equivalentsSingapore dollars | 6,877,199 | 9,590,285 | PDF p. 82 |
| Total current assetsSingapore dollars | 9,532,152 | 11,815,340 | PDF p. 82 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars | 3,636,289 | 4,191,832 | PDF p. 82 |
| ProvisionsSingapore dollars | 988,990 | 968,258 | PDF p. 82 |
| Lease liabilitiesSingapore dollars | 5,797,066 | 6,511,858 | PDF p. 82 |
| Current income tax payableSingapore dollars | 15,143 | – | PDF p. 82 |
| Total current liabilitiesSingapore dollars | 10,437,488 | 11,671,948 | PDF p. 82 |
| Net current (liabilities)/assetsSingapore dollars | (905,336) | 143,392 | PDF p. 82 |
| liabilities | |||
| Other payablesSingapore dollars | 91,267 | 118,900 | PDF p. 82 |
| Lease liabilitiesSingapore dollars | 5,296,543 | 5,919,995 | PDF p. 82 |
| Deferred tax liabilitiesSingapore dollars | 2,764 | 3,643 | PDF p. 82 |
| Total non-current liabilitiesSingapore dollars | 5,390,574 | 6,042,538 | PDF p. 82 |
| Net assetsSingapore dollars | 6,806,979 | 8,168,754 | PDF p. 82 |
| Equity | |||
| Share capitalSingapore dollars | 6,592,761 | 6,592,761 | PDF p. 82 |
| Treasury sharesSingapore dollars | (4,082,954) | (4,082,954) | PDF p. 82 |
| Translation reserveSingapore dollars | 24,801 | 19,354 | PDF p. 82 |
| Retained earningsSingapore dollars | 4,272,371 | 5,639,593 | PDF p. 82 |
| Total equitySingapore dollars | 6,806,979 | 8,168,754 | PDF p. 82 |
Definitions & sources
Original report: PDF p. 82 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company statement of financial position
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / as at 31 December 2025 | 2024Company / as at 31 December 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Plant and equipmentSingapore dollars | 13,078 | 17,861 | PDF p. 82 |
| Investments in subsidiariesSingapore dollars | 1,664,617 | 1,664,617 | PDF p. 82 |
| Intangible assetsSingapore dollars | 28,386 | 105,828 | PDF p. 82 |
| Right-of-use assetsSingapore dollars | 213,992 | 66,165 | PDF p. 82 |
| Deferred tax assetsSingapore dollars | – | 44,407 | PDF p. 82 |
| Total non-current assetsSingapore dollars | 1,920,073 | 1,898,878 | PDF p. 82 |
| Current assets | |||
| InventoriesSingapore dollars | – | – | PDF p. 82 |
| Trade and other receivablesSingapore dollars | 2,869,563 | 2,392,527 | PDF p. 82 |
| Current income tax recoverableSingapore dollars | – | – | PDF p. 82 |
| Cash and cash equivalentsSingapore dollars | 5,069,975 | 6,643,086 | PDF p. 82 |
| Total current assetsSingapore dollars | 7,939,538 | 9,035,613 | PDF p. 82 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars | 365,667 | 667,141 | PDF p. 82 |
| ProvisionsSingapore dollars | 40,000 | 40,000 | PDF p. 82 |
| Lease liabilitiesSingapore dollars | 142,651 | 68,612 | PDF p. 82 |
| Current income tax payableSingapore dollars | – | – | PDF p. 82 |
| Total current liabilitiesSingapore dollars | 548,318 | 775,753 | PDF p. 82 |
| Net current (liabilities)/assetsSingapore dollars | 7,391,220 | 8,259,860 | PDF p. 82 |
| liabilities | |||
| Other payablesSingapore dollars | – | – | PDF p. 82 |
| Lease liabilitiesSingapore dollars | 72,613 | – | PDF p. 82 |
| Deferred tax liabilitiesSingapore dollars | 2,764 | – | PDF p. 82 |
| Total non-current liabilitiesSingapore dollars | 75,377 | – | PDF p. 82 |
| Net assetsSingapore dollars | 9,235,916 | 10,158,738 | PDF p. 82 |
| Equity | |||
| Share capitalSingapore dollars | 6,592,761 | 6,592,761 | PDF p. 82 |
| Treasury sharesSingapore dollars | (4,082,954) | (4,082,954) | PDF p. 82 |
| Translation reserveSingapore dollars | – | – | PDF p. 82 |
| Retained earningsSingapore dollars | 6,726,109 | 7,648,931 | PDF p. 82 |
| Total equitySingapore dollars | 9,235,916 | 10,158,738 | PDF p. 82 |
Definitions & sources
Original report: PDF p. 82 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of comprehensive income
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended 31 December 2025 | 2024Group / year ended 31 December 2024 | Source |
|---|---|---|---|
| Group comprehensive income | |||
| RevenueSingapore dollars | 37,523,710 | 38,412,485 | PDF p. 83 |
| Other items of income | |||
| Interest income from bank depositsSingapore dollars | 93,533 | 200,452 | PDF p. 83 |
| Other incomeSingapore dollars | 532,753 | 779,254 | PDF p. 83 |
| Other items of expense | |||
| Changes in inventoriesSingapore dollars | 45,109 | (11,324) | PDF p. 83 |
| Other items of income | |||
| Purchases and other consumablesSingapore dollars | (7,787,679) | (8,357,627) | PDF p. 83 |
| Employee benefits expenseSingapore dollars | (14,321,356) | (14,748,297) | PDF p. 83 |
| Depreciation and amortisation expensesSingapore dollars | (7,765,106) | (7,985,471) | PDF p. 83 |
| Impairment loss on plant and equipmentSingapore dollars | (31,713) | (704,342) | PDF p. 83 |
| Impairment loss on right-of-use assetsSingapore dollars | (328,832) | (754,390) | PDF p. 83 |
| Other expensesSingapore dollars | (8,605,322) | (9,342,909) | PDF p. 83 |
| Finance costsSingapore dollars | (493,291) | (588,113) | PDF p. 83 |
| Loss before income taxSingapore dollars | (1,138,194) | (3,100,282) | PDF p. 83 |
| Income tax (expense)/creditSingapore dollars | (89,364) | 238,999 | PDF p. 83 |
| Loss for the financial year attributable to owners of the CompanySingapore dollars | (1,227,558) | (2,861,283) | PDF p. 83 |
| profit or loss: | |||
| Exchange difference on translating foreign operationSingapore dollars | 5,447 | (2,587) | PDF p. 83 |
| Other comprehensive income for the financial year, | |||
| Other comprehensive income for the financial year, net of taxSingapore dollars | 5,447 | (2,587) | PDF p. 83 |
| Total comprehensive loss for the financial year attributable to owners of the CompanySingapore dollars | (1,222,111) | (2,863,870) | PDF p. 83 |
| Earnings per share attributable to owners of the Company (cents) | |||
| Basic and dilutedSingapore cents per share | (0.44) | (1.02) | PDF p. 83 |
Definitions & sources
Original report: PDF p. 83 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group changes in equity / 2025
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Share capital | 2025Group / Treasury shares | 2025Group / Translation reserve | 2025Group / Retained earnings | 2025Group / Total equity | Source |
|---|---|---|---|---|---|---|
| Group changes in equity / 2025 | ||||||
| Balance as at 1.1.2025Singapore dollars | 6,592,761 | (4,082,954) | 19,354 | 5,639,593 | 8,168,754 | PDF p. 84 |
| Loss for the financial yearSingapore dollars | – | – | – | (1,227,558) | (1,227,558) | PDF p. 84 |
| Other comprehensive loss for the financial year, net of tax | ||||||
| Exchange difference on translating foreign operationSingapore dollars | – | – | 5,447 | – | 5,447 | PDF p. 84 |
| Group changes in equity / 2025 | ||||||
| Total comprehensive income for the financial yearSingapore dollars | – | – | 5,447 | (1,227,558) | (1,222,111) | PDF p. 84 |
| Distributions to owners | ||||||
| DividendsSingapore dollars | – | – | – | (139,664) | (139,664) | PDF p. 84 |
| Group changes in equity / 2025 | ||||||
| Balance as at 31.12.2025Singapore dollars | 6,592,761 | (4,082,954) | 24,801 | 4,272,371 | 6,806,979 | PDF p. 84 |
Definitions & sources
Original report: PDF p. 84 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group changes in equity / 2024
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Share capital | 2024Group / Treasury shares | 2024Group / Translation reserve | 2024Group / Retained earnings | 2024Group / Total equity | Source |
|---|---|---|---|---|---|---|
| Group changes in equity / 2024 | ||||||
| Balance as at 1.1.2024Singapore dollars | 6,592,761 | (4,082,954) | 21,941 | 9,338,859 | 11,870,607 | PDF p. 84 |
| Loss for the financial yearSingapore dollars | – | – | – | (2,861,283) | (2,861,283) | PDF p. 84 |
| Other comprehensive loss for the financial year, net of tax | ||||||
| Exchange difference on translating foreign operationSingapore dollars | – | – | (2,587) | – | (2,587) | PDF p. 84 |
| Group changes in equity / 2024 | ||||||
| Total comprehensive income for the financial yearSingapore dollars | – | – | (2,587) | (2,861,283) | (2,863,870) | PDF p. 84 |
| Distributions to owners | ||||||
| DividendsSingapore dollars | – | – | – | (837,983) | (837,983) | PDF p. 84 |
| Group changes in equity / 2024 | ||||||
| Balance as at 31.12.2024Singapore dollars | 6,592,761 | (4,082,954) | 19,354 | 5,639,593 | 8,168,754 | PDF p. 84 |
Definitions & sources
Original report: PDF p. 84 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company changes in equity / 2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / Share capital | 2025Company / Treasury shares | 2025Company / Retained earnings | 2025Company / Total equity | Source |
|---|---|---|---|---|---|
| Company changes in equity / 2025 | |||||
| Balance as at 1.1.2025Singapore dollars | 6,592,761 | (4,082,954) | 7,648,931 | 10,158,738 | PDF p. 85 |
| Loss for the financial year, representing total comprehensive loss for the financial yearSingapore dollars | – | – | (783,158) | (783,158) | PDF p. 85 |
| Distributions to owners | |||||
| DividendsSingapore dollars | – | – | (139,664) | (139,664) | PDF p. 85 |
| Company changes in equity / 2025 | |||||
| Balance as at 31.12.2025Singapore dollars | 6,592,761 | (4,082,954) | 6,726,109 | 9,235,916 | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company changes in equity / 2024
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company / Share capital | 2024Company / Treasury shares | 2024Company / Retained earnings | 2024Company / Total equity | Source |
|---|---|---|---|---|---|
| Company changes in equity / 2024 | |||||
| Balance as at 1.1.2024Singapore dollars | 6,592,761 | (4,082,954) | 8,136,021 | 10,645,828 | PDF p. 85 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars | – | – | 350,893 | 350,893 | PDF p. 85 |
| Distributions to owners | |||||
| DividendsSingapore dollars | – | – | (837,983) | (837,983) | PDF p. 85 |
| Company changes in equity / 2024 | |||||
| Balance as at 31.12.2024Singapore dollars | 6,592,761 | (4,082,954) | 7,648,931 | 10,158,738 | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of cash flows
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended 31 December 2025 | 2024Group / year ended 31 December 2024 | Source |
|---|---|---|---|
| Operating activities | |||
| Loss before income taxSingapore dollars | (1,138,194) | (3,100,282) | PDF p. 86 |
| Adjustments for: | |||
| Loss allowance on inventoriesSingapore dollars | – | 30,808 | PDF p. 86 |
| Amortisation of grant incomeSingapore dollars | (95,171) | (142,771) | PDF p. 86 |
| Amortisation of intangible assetsSingapore dollars | 88,703 | 161,479 | PDF p. 86 |
| Amortisation of right-of-use assetsSingapore dollars | 6,806,790 | 6,894,442 | PDF p. 86 |
| Depreciation of plant and equipmentSingapore dollars | 869,613 | 929,550 | PDF p. 86 |
| Gain on de-recognition of right-of-use assetsSingapore dollars | (98,549) | – | PDF p. 86 |
| Gain on disposal of plant and equipmentSingapore dollars | (24,970) | (3,277) | PDF p. 86 |
| Impairment loss on plant and equipmentSingapore dollars | 31,713 | 704,342 | PDF p. 86 |
| Impairment loss on right-of-use assetsSingapore dollars | 328,832 | 754,390 | PDF p. 86 |
| Inventories written offSingapore dollars | 6,222 | 24,436 | PDF p. 86 |
| Interest expenseSingapore dollars | 493,291 | 588,113 | PDF p. 86 |
| Interest income from bank depositsSingapore dollars | (93,533) | (200,452) | PDF p. 86 |
| Bad debts written offSingapore dollars | 15,993 | 3,486 | PDF p. 86 |
| Plant and equipment written offSingapore dollars | 11,253 | 13,132 | PDF p. 86 |
| Operating cash flows before movements in working capitalSingapore dollars | 7,201,993 | 6,657,396 | PDF p. 86 |
| InventoriesSingapore dollars | (45,109) | 11,324 | PDF p. 86 |
| Trade and other receivablesSingapore dollars | (619,956) | 653,029 | PDF p. 86 |
| Trade and other payablesSingapore dollars | (264,477) | (334,264) | PDF p. 86 |
| Cash generated from operationsSingapore dollars | 6,272,451 | 6,987,485 | PDF p. 86 |
| Income taxes paid, netSingapore dollars | (37,744) | (115,979) | PDF p. 86 |
| Interest receivedSingapore dollars | 93,533 | 200,452 | PDF p. 86 |
| Net cash from operating activitiesSingapore dollars | 6,328,240 | 7,071,958 | PDF p. 86 |
| Investing activities | |||
| Proceeds from disposal of plant and equipmentSingapore dollars | 32,672 | 3,277 | PDF p. 86 |
| Purchase of plant and equipmentSingapore dollars | (1,154,602) | (2,139,047) | PDF p. 86 |
| Purchase of intangible assetsSingapore dollars | (8,205) | (18,023) | PDF p. 86 |
| Net cash used in investing activitiesSingapore dollars | (1,130,135) | (2,153,793) | PDF p. 86 |
| Financing activities | |||
| Dividends paidSingapore dollars | (139,664) | (837,983) | PDF p. 86 |
| Grant income receivedSingapore dollars | 212,520 | 47,460 | PDF p. 86 |
| Interest paidSingapore dollars | (493,291) | (588,113) | PDF p. 86 |
| Repayment of obligations under leasesSingapore dollars | (7,499,225) | (7,060,896) | PDF p. 86 |
| Net cash used in financing activitiesSingapore dollars | (7,919,660) | (8,439,532) | PDF p. 86 |
| Net change in cash and cash equivalentsSingapore dollars | (2,721,555) | (3,521,367) | PDF p. 86 |
| Cash and cash equivalents at the beginning of the financial yearSingapore dollars | 9,590,285 | 13,108,120 | PDF p. 86 |
| Effect of currency translation on cash and cash equivalentsSingapore dollars | 8,469 | 3,532 | PDF p. 86 |
| Cash and cash equivalents at the end of the financial yearSingapore dollars | 6,877,199 | 9,590,285 | PDF p. 86 |
Definitions & sources
Original report: PDF p. 86 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Lease liability roll-forward / 2025
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / lease liability movements | 2025Company / lease liability movements | Source |
|---|---|---|---|
| Lease liability roll-forward | |||
| As at 1.1.2025Singapore dollars | 12,431,853 | 68,612 | PDF p. 106 |
| AdditionsSingapore dollars | 6,004,594 | 285,322 | PDF p. 106 |
| Lease modificationsSingapore dollars | 412,432 | – | PDF p. 106 |
| DerecognitionSingapore dollars | (286,079) | – | PDF p. 106 |
| Interest expense (Note 21)Singapore dollars | 493,291 | 4,047 | PDF p. 106 |
| Lease payments - Principal portionSingapore dollars | (7,499,225) | (138,670) | PDF p. 106 |
| - Interest portionSingapore dollars | (493,291) | (4,047) | PDF p. 106 |
| Exchange differenceSingapore dollars | 30,034 | – | PDF p. 106 |
| Balance as at 31.12.2025Singapore dollars | 11,093,609 | 215,264 | PDF p. 106 |
Definitions & sources
Original report: PDF p. 106 ↗
Whole Singapore dollars. Lease additions/modifications/derecognition are distinct from cash principal and interest payments; current versus noncurrent maturities are separate.
Lease liability roll-forward / 2024
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / lease liability movements | 2024Company / lease liability movements | Source |
|---|---|---|---|
| Lease liability roll-forward | |||
| As at 1.1.2024Singapore dollars | 13,930,200 | 200,903 | PDF p. 106 |
| AdditionsSingapore dollars | 5,551,647 | – | PDF p. 106 |
| Lease modificationsSingapore dollars | (45,061) | – | PDF p. 106 |
| Interest expense (Note 21)Singapore dollars | 588,113 | 6,902 | PDF p. 106 |
| Lease payments - Principal portionSingapore dollars | (7,060,896) | (132,291) | PDF p. 106 |
| - Interest portionSingapore dollars | (588,113) | (6,902) | PDF p. 106 |
| Exchange differenceSingapore dollars | 55,963 | – | PDF p. 106 |
| Balance as at 31.12.2024Singapore dollars | 12,431,853 | 68,612 | PDF p. 106 |
Definitions & sources
Original report: PDF p. 106 ↗
Whole Singapore dollars. Lease additions/modifications/derecognition are distinct from cash principal and interest payments; current versus noncurrent maturities are separate.
Group lease maturity and financial position reconciliation
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / lease maturity | 2024Group / lease maturity | Source |
|---|---|---|---|
| Contractual undiscounted cash flows | |||
| - Not later than a yearSingapore dollars | 6,098,210 | 6,943,149 | PDF p. 106 |
| Lease maturity and statement-of-financial-position reconciliation | |||
| - Between one and five yearsSingapore dollars | 5,459,471 | 6,155,674 | PDF p. 106 |
| Subtotal (unlabelled in original)Singapore dollars | 11,557,681 | 13,098,823 | PDF p. 106 |
| Less: Future interest expenseSingapore dollars | (464,072) | (666,970) | PDF p. 106 |
| Present value of lease liabilitiesSingapore dollars | 11,093,609 | 12,431,853 | PDF p. 106 |
| Presented in statements of financial position | |||
| - Non-currentSingapore dollars | 5,296,543 | 5,919,995 | PDF p. 106 |
| Lease maturity and statement-of-financial-position reconciliation | |||
| - CurrentSingapore dollars | 5,797,066 | 6,511,858 | PDF p. 106 |
| Subtotal (unlabelled in original)Singapore dollars | 11,093,609 | 12,431,853 | PDF p. 106 |
Definitions & sources
Original report: PDF p. 106 ↗
Whole Singapore dollars. Undiscounted contractual payments less future interest equal present value; noncurrent plus current portions reconcile to that same liability.
Company lease maturity and financial position reconciliation
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / lease maturity | 2024Company / lease maturity | Source |
|---|---|---|---|
| Contractual undiscounted cash flows | |||
| - Not later than a yearSingapore dollars | 146,241 | 69,596 | PDF p. 106 |
| Lease maturity and statement-of-financial-position reconciliation | |||
| - Between one and five yearsSingapore dollars | 73,120 | – | PDF p. 106 |
| Subtotal (unlabelled in original)Singapore dollars | 219,361 | 69,596 | PDF p. 106 |
| Less: Future interest expenseSingapore dollars | (4,097) | (984) | PDF p. 106 |
| Present value of lease liabilitiesSingapore dollars | 215,264 | 68,612 | PDF p. 106 |
| Presented in statements of financial position | |||
| - Non-currentSingapore dollars | 72,613 | – | PDF p. 106 |
| Lease maturity and statement-of-financial-position reconciliation | |||
| - CurrentSingapore dollars | 142,651 | 68,612 | PDF p. 106 |
| Subtotal (unlabelled in original)Singapore dollars | 215,264 | 68,612 | PDF p. 106 |
Definitions & sources
Original report: PDF p. 106 ↗
Whole Singapore dollars. Undiscounted contractual payments less future interest equal present value; noncurrent plus current portions reconcile to that same liability.
Group earnings per share and whole-share denominator
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / basic and diluted EPS | 2024Group / basic and diluted EPS | Source |
|---|---|---|---|
| earnings per share (loss attributable to the | |||
| Earnings for basic and diluted EPS (loss attributable to owners of the Company)Singapore dollars | (1,227,558) | (2,861,283) | PDF p. 114 |
| Weighted average number of ordinary shares for basic and diluted earnings per shareWhole ordinary shares | 279,327,700 | 279,327,700 | PDF p. 114 |
| Earnings per share (cents) | |||
| Basic and dilutedSingapore cents per share | (0.44) | (1.02) | PDF p. 114 |
Definitions & sources
Original report: PDF p. 114 ↗
Original earnings numerator in whole Singapore dollars, weighted-average ordinary-share denominator in whole shares, EPS in Singapore cents. No dilutive potential ordinary shares exist in these years.
Group statement of financial position
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / as at 31 December 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 2,511,506 | PDF p. 85 |
| Investments in subsidiariesSingapore dollars | – | PDF p. 85 |
| Intangible assetsSingapore dollars | 266,058 | PDF p. 85 |
| Right-of-use assetsSingapore dollars | 12,995,900 | PDF p. 85 |
| Deferred tax assetsSingapore dollars | 229,937 | PDF p. 85 |
| Total non-current assetsSingapore dollars | 16,003,401 | PDF p. 85 |
| Current assets | ||
| InventoriesSingapore dollars | 284,206 | PDF p. 85 |
| Trade and other receivablesSingapore dollars | 2,710,960 | PDF p. 85 |
| Current income tax recoverableSingapore dollars | – | PDF p. 85 |
| Cash and cash equivalentsSingapore dollars | 13,108,120 | PDF p. 85 |
| Total current assetsSingapore dollars | 16,103,286 | PDF p. 85 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 5,161,731 | PDF p. 85 |
| ProvisionsSingapore dollars | 917,232 | PDF p. 85 |
| Lease liabilitiesSingapore dollars | 6,588,933 | PDF p. 85 |
| Current income tax payableSingapore dollars | 174,670 | PDF p. 85 |
| Total current liabilitiesSingapore dollars | 12,842,566 | PDF p. 85 |
| Net current assetsSingapore dollars | 3,260,720 | PDF p. 85 |
| liabilities | ||
| Other payablesSingapore dollars | 48,809 | PDF p. 85 |
| Lease liabilitiesSingapore dollars | 7,341,267 | PDF p. 85 |
| Deferred tax liabilitiesSingapore dollars | 3,438 | PDF p. 85 |
| Total non-current liabilitiesSingapore dollars | 7,393,514 | PDF p. 85 |
| Net assetsSingapore dollars | 11,870,607 | PDF p. 85 |
| Equity | ||
| Share capitalSingapore dollars | 6,592,761 | PDF p. 85 |
| Treasury sharesSingapore dollars | (4,082,954) | PDF p. 85 |
| Translation reserveSingapore dollars | 21,941 | PDF p. 85 |
| Retained earningsSingapore dollars | 9,338,859 | PDF p. 85 |
| Total equitySingapore dollars | 11,870,607 | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company statement of financial position
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / as at 31 December 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 21,335 | PDF p. 85 |
| Investments in subsidiariesSingapore dollars | 1,664,617 | PDF p. 85 |
| Intangible assetsSingapore dollars | 252,396 | PDF p. 85 |
| Right-of-use assetsSingapore dollars | 198,496 | PDF p. 85 |
| Deferred tax assetsSingapore dollars | 58,286 | PDF p. 85 |
| Total non-current assetsSingapore dollars | 2,195,130 | PDF p. 85 |
| Current assets | ||
| InventoriesSingapore dollars | – | PDF p. 85 |
| Trade and other receivablesSingapore dollars | 525,097 | PDF p. 85 |
| Current income tax recoverableSingapore dollars | – | PDF p. 85 |
| Cash and cash equivalentsSingapore dollars | 9,339,272 | PDF p. 85 |
| Total current assetsSingapore dollars | 9,864,369 | PDF p. 85 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 1,066,699 | PDF p. 85 |
| ProvisionsSingapore dollars | 40,000 | PDF p. 85 |
| Lease liabilitiesSingapore dollars | 132,291 | PDF p. 85 |
| Current income tax payableSingapore dollars | 57,260 | PDF p. 85 |
| Total current liabilitiesSingapore dollars | 1,296,250 | PDF p. 85 |
| Net current assetsSingapore dollars | 8,568,119 | PDF p. 85 |
| liabilities | ||
| Other payablesSingapore dollars | 48,809 | PDF p. 85 |
| Lease liabilitiesSingapore dollars | 68,612 | PDF p. 85 |
| Deferred tax liabilitiesSingapore dollars | – | PDF p. 85 |
| Total non-current liabilitiesSingapore dollars | 117,421 | PDF p. 85 |
| Net assetsSingapore dollars | 10,645,828 | PDF p. 85 |
| Equity | ||
| Share capitalSingapore dollars | 6,592,761 | PDF p. 85 |
| Treasury sharesSingapore dollars | (4,082,954) | PDF p. 85 |
| Translation reserveSingapore dollars | – | PDF p. 85 |
| Retained earningsSingapore dollars | 8,136,021 | PDF p. 85 |
| Total equitySingapore dollars | 10,645,828 | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of comprehensive income
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended 31 December 2023 | Source |
|---|---|---|
| Group comprehensive income | ||
| RevenueSingapore dollars | 41,097,383 | PDF p. 86 |
| Other items of income | ||
| Interest income from bank depositsSingapore dollars | 251,071 | PDF p. 86 |
| Other incomeSingapore dollars | 1,207,652 | PDF p. 86 |
| Other items of expense | ||
| Changes in inventoriesSingapore dollars | (10,099) | PDF p. 86 |
| Other items of income | ||
| Purchases and other consumablesSingapore dollars | (8,966,402) | PDF p. 86 |
| Employee benefits expenseSingapore dollars | (14,882,217) | PDF p. 86 |
| Depreciation and amortisation expensesSingapore dollars | (7,185,288) | PDF p. 86 |
| Impairment loss on plant and equipmentSingapore dollars | (89,058) | PDF p. 86 |
| Impairment loss on right-of-use assetsSingapore dollars | (216,510) | PDF p. 86 |
| Loss allowance on trade and other receivables, netSingapore dollars | (2,726) | PDF p. 86 |
| Other expensesSingapore dollars | (8,832,339) | PDF p. 86 |
| Finance costsSingapore dollars | (564,323) | PDF p. 86 |
| (Loss)/Profit before income taxSingapore dollars | 1,807,144 | PDF p. 86 |
| Income tax credit/(expense)Singapore dollars | (161,958) | PDF p. 86 |
| (Loss)/Profit for the financial year attributable to owners of the CompanySingapore dollars | 1,645,186 | PDF p. 86 |
| loss: | ||
| Exchange difference on translating foreign operationSingapore dollars | 7,718 | PDF p. 86 |
| Other comprehensive income for the financial year, | ||
| Other comprehensive income for the financial year, net of taxSingapore dollars | 7,718 | PDF p. 86 |
| Total comprehensive (loss)/income for the financial year attributable to owners of the CompanySingapore dollars | 1,652,904 | PDF p. 86 |
| Earnings per share attributable to owners of the Company (cents) | ||
| Basic and dilutedSingapore cents per share | 0.59 | PDF p. 86 |
Definitions & sources
Original report: PDF p. 86 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group changes in equity / 2023
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / Share capital | 2023Group / Treasury shares | 2023Group / Translation reserve | 2023Group / Retained earnings | 2023Group / Total equity | Source |
|---|---|---|---|---|---|---|
| Group changes in equity / 2023 | ||||||
| Balance as at 1.1.2023Singapore dollars | 6,592,761 | (4,082,954) | 14,223 | 8,810,984 | 11,335,014 | PDF p. 87 |
| Profit for the financial yearSingapore dollars | – | – | – | 1,645,186 | 1,645,186 | PDF p. 87 |
| Other comprehensive income for the financial year, net of tax | ||||||
| Exchange difference on translating foreign operationSingapore dollars | – | – | 7,718 | – | 7,718 | PDF p. 87 |
| Group changes in equity / 2023 | ||||||
| Total comprehensive income for the financial yearSingapore dollars | – | – | 7,718 | 1,645,186 | 1,652,904 | PDF p. 87 |
| Distributions to owners | ||||||
| DividendsSingapore dollars | – | – | – | (1,117,311) | (1,117,311) | PDF p. 87 |
| Group changes in equity / 2023 | ||||||
| Balance as at 31.12.2023Singapore dollars | 6,592,761 | (4,082,954) | 21,941 | 9,338,859 | 11,870,607 | PDF p. 87 |
Definitions & sources
Original report: PDF p. 87 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company changes in equity / 2023
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / Share capital | 2023Company / Treasury shares | 2023Company / Retained earnings | 2023Company / Total equity | Source |
|---|---|---|---|---|---|
| Company changes in equity / 2023 | |||||
| Balance as at 1.1.2023Singapore dollars | 6,592,761 | (4,082,954) | 7,366,577 | 9,876,384 | PDF p. 88 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars | – | – | 1,886,755 | 1,886,755 | PDF p. 88 |
| Distributions to owners | |||||
| DividendsSingapore dollars | – | – | (1,117,311) | (1,117,311) | PDF p. 88 |
| Company changes in equity / 2023 | |||||
| Balance as at 31.12.2023Singapore dollars | 6,592,761 | (4,082,954) | 8,136,021 | 10,645,828 | PDF p. 88 |
Definitions & sources
Original report: PDF p. 88 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of cash flows
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended 31 December 2023 | Source |
|---|---|---|
| Operating activities | ||
| (Loss)/Profit before income taxSingapore dollars | 1,807,144 | PDF p. 89 |
| Adjustments for: | ||
| Loss allowance on inventoriesSingapore dollars | 32,358 | PDF p. 89 |
| Loss allowance on trade and other receivable, netSingapore dollars | 2,726 | PDF p. 89 |
| Amortisation of grant incomeSingapore dollars | (119,760) | PDF p. 89 |
| Amortisation of intangible assetsSingapore dollars | 163,383 | PDF p. 89 |
| Amortisation of right-of-use assetsSingapore dollars | 6,565,334 | PDF p. 89 |
| Depreciation of plant and equipmentSingapore dollars | 456,571 | PDF p. 89 |
| Gain on disposal of plant and equipmentSingapore dollars | – | PDF p. 89 |
| Impairment loss on plant and equipmentSingapore dollars | 89,058 | PDF p. 89 |
| Impairment loss on right-of-use assetsSingapore dollars | 216,510 | PDF p. 89 |
| Inventories written offSingapore dollars | 11,112 | PDF p. 89 |
| Interest expenseSingapore dollars | 564,323 | PDF p. 89 |
| Interest income from bank depositsSingapore dollars | (251,071) | PDF p. 89 |
| Bad debts written offSingapore dollars | 4,101 | PDF p. 89 |
| Plant and equipment written offSingapore dollars | 2,923 | PDF p. 89 |
| Reversal of provision of restoration costSingapore dollars | (132,676) | PDF p. 89 |
| Operating cash flows before movements in working capitalSingapore dollars | 9,412,036 | PDF p. 89 |
| InventoriesSingapore dollars | 10,099 | PDF p. 89 |
| Trade and other receivablesSingapore dollars | (415,308) | PDF p. 89 |
| Trade and other payablesSingapore dollars | 253,937 | PDF p. 89 |
| Cash generated from operationsSingapore dollars | 9,260,764 | PDF p. 89 |
| Income taxes paid, netSingapore dollars | (157,276) | PDF p. 89 |
| Interest receivedSingapore dollars | 251,071 | PDF p. 89 |
| Net cash from operating activitiesSingapore dollars | 9,354,559 | PDF p. 89 |
| Investing activities | ||
| Proceeds from disposal of plant and equipmentSingapore dollars | 112,000 | PDF p. 89 |
| Purchase of plant and equipmentSingapore dollars | (1,285,318) | PDF p. 89 |
| Purchase of intangible assetsSingapore dollars | (138,105) | PDF p. 89 |
| Net cash used in investing activitiesSingapore dollars | (1,311,423) | PDF p. 89 |
| Financing activities | ||
| Dividends paidSingapore dollars | (1,117,311) | PDF p. 89 |
| Grant income receivedSingapore dollars | 370,400 | PDF p. 89 |
| Interest paidSingapore dollars | (564,323) | PDF p. 89 |
| Repayment of obligations under leasesSingapore dollars | (6,699,612) | PDF p. 89 |
| Net cash used in financing activitiesSingapore dollars | (8,010,846) | PDF p. 89 |
| Net change in cash and cash equivalentsSingapore dollars | 32,290 | PDF p. 89 |
| Cash and cash equivalents at the beginning of the financial yearSingapore dollars | 13,067,104 | PDF p. 89 |
| Effect of currency translation on cash and cash equivalentsSingapore dollars | 8,726 | PDF p. 89 |
| Cash and cash equivalents at the end of the financial yearSingapore dollars | 13,108,120 | PDF p. 89 |
Definitions & sources
Original report: PDF p. 89 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group statement of financial position
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / as at 31 December 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 725,951 | PDF p. 83 |
| Investments in subsidiariesSingapore dollars | – | PDF p. 83 |
| Intangible assetsSingapore dollars | 393,397 | PDF p. 83 |
| Right-of-use assetsSingapore dollars | 9,693,393 | PDF p. 83 |
| Deferred tax assetsSingapore dollars | 225,847 | PDF p. 83 |
| Total non-current assetsSingapore dollars | 11,038,588 | PDF p. 83 |
| Current assets | ||
| InventoriesSingapore dollars | 337,775 | PDF p. 83 |
| Trade and other receivablesSingapore dollars | 2,784,879 | PDF p. 83 |
| Cash and cash equivalentsSingapore dollars | 13,067,104 | PDF p. 83 |
| Total current assetsSingapore dollars | 16,189,758 | PDF p. 83 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 4,189,906 | PDF p. 83 |
| ProvisionsSingapore dollars | 827,588 | PDF p. 83 |
| Lease liabilitiesSingapore dollars | 5,201,142 | PDF p. 83 |
| Current income tax payableSingapore dollars | 152,022 | PDF p. 83 |
| Total current liabilitiesSingapore dollars | 10,370,658 | PDF p. 83 |
| Net current assetsSingapore dollars | 5,819,100 | PDF p. 83 |
| liabilities | ||
| Other payablesSingapore dollars | 159,119 | PDF p. 83 |
| Lease liabilitiesSingapore dollars | 5,345,533 | PDF p. 83 |
| Deferred tax liabilitiesSingapore dollars | 18,022 | PDF p. 83 |
| Total non-current liabilitiesSingapore dollars | 5,522,674 | PDF p. 83 |
| Net assetsSingapore dollars | 11,335,014 | PDF p. 83 |
| Equity | ||
| Share capitalSingapore dollars | 6,592,761 | PDF p. 83 |
| Treasury sharesSingapore dollars | (4,082,954) | PDF p. 83 |
| Translation reserveSingapore dollars | 14,223 | PDF p. 83 |
| Retained earningsSingapore dollars | 8,810,984 | PDF p. 83 |
| Total equitySingapore dollars | 11,335,014 | PDF p. 83 |
Definitions & sources
Original report: PDF p. 83 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company statement of financial position
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / as at 31 December 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 27,852 | PDF p. 83 |
| Investments in subsidiariesSingapore dollars | 1,664,617 | PDF p. 83 |
| Intangible assetsSingapore dollars | 393,163 | PDF p. 83 |
| Right-of-use assetsSingapore dollars | 64,854 | PDF p. 83 |
| Deferred tax assetsSingapore dollars | – | PDF p. 83 |
| Total non-current assetsSingapore dollars | 2,150,486 | PDF p. 83 |
| Current assets | ||
| InventoriesSingapore dollars | – | PDF p. 83 |
| Trade and other receivablesSingapore dollars | 1,319,183 | PDF p. 83 |
| Cash and cash equivalentsSingapore dollars | 7,857,667 | PDF p. 83 |
| Total current assetsSingapore dollars | 9,176,850 | PDF p. 83 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 1,133,188 | PDF p. 83 |
| ProvisionsSingapore dollars | 40,000 | PDF p. 83 |
| Lease liabilitiesSingapore dollars | 65,728 | PDF p. 83 |
| Current income tax payableSingapore dollars | 36,903 | PDF p. 83 |
| Total current liabilitiesSingapore dollars | 1,275,819 | PDF p. 83 |
| Net current assetsSingapore dollars | 7,901,031 | PDF p. 83 |
| liabilities | ||
| Other payablesSingapore dollars | 159,119 | PDF p. 83 |
| Lease liabilitiesSingapore dollars | – | PDF p. 83 |
| Deferred tax liabilitiesSingapore dollars | 16,014 | PDF p. 83 |
| Total non-current liabilitiesSingapore dollars | 175,133 | PDF p. 83 |
| Net assetsSingapore dollars | 9,876,384 | PDF p. 83 |
| Equity | ||
| Share capitalSingapore dollars | 6,592,761 | PDF p. 83 |
| Treasury sharesSingapore dollars | (4,082,954) | PDF p. 83 |
| Translation reserveSingapore dollars | – | PDF p. 83 |
| Retained earningsSingapore dollars | 7,366,577 | PDF p. 83 |
| Total equitySingapore dollars | 9,876,384 | PDF p. 83 |
Definitions & sources
Original report: PDF p. 83 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of comprehensive income
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 December 2022 | Source |
|---|---|---|
| Group comprehensive income | ||
| RevenueSingapore dollars | 37,600,193 | PDF p. 84 |
| Other items of income | ||
| Interest income from bank depositsSingapore dollars | 57,101 | PDF p. 84 |
| Other incomeSingapore dollars | 1,893,821 | PDF p. 84 |
| Other items of expense | ||
| Changes in inventoriesSingapore dollars | (41,189) | PDF p. 84 |
| Other items of income | ||
| Purchases and other consumablesSingapore dollars | (8,003,620) | PDF p. 84 |
| Employee benefits expenseSingapore dollars | (13,420,931) | PDF p. 84 |
| Depreciation and amortisation expensesSingapore dollars | (6,754,080) | PDF p. 84 |
| Impairment loss on plant and equipmentSingapore dollars | (48,980) | PDF p. 84 |
| Impairment loss on right-of-use assetsSingapore dollars | (586,369) | PDF p. 84 |
| Loss allowance on trade and other receivables, netSingapore dollars | (55,079) | PDF p. 84 |
| Other expensesSingapore dollars | (8,970,543) | PDF p. 84 |
| Finance costsSingapore dollars | (303,078) | PDF p. 84 |
| Profit before income taxSingapore dollars | 1,367,246 | PDF p. 84 |
| Income tax (expense)/creditSingapore dollars | 95,229 | PDF p. 84 |
| Profit for the financial year attributable to owners of the CompanySingapore dollars | 1,462,475 | PDF p. 84 |
| or loss: | ||
| Exchange difference on translating foreign operationSingapore dollars | 14,588 | PDF p. 84 |
| Other comprehensive income for the financial | ||
| year, net of taxSingapore dollars | 14,588 | PDF p. 84 |
| Total comprehensive income for the financial year attributable to owners of the CompanySingapore dollars | 1,477,063 | PDF p. 84 |
| Earnings per share attributable to owners of the Company (cents) | ||
| Basic and dilutedSingapore cents per share | 0.52 | PDF p. 84 |
Definitions & sources
Original report: PDF p. 84 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group changes in equity / 2022
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / Share capital | 2022Group / Treasury shares | 2022Group / Translation reserve | 2022Group / Retained earnings | 2022Group / Total equity | Source |
|---|---|---|---|---|---|---|
| Group changes in equity / 2022 | ||||||
| Balance as at 1.1.2022Singapore dollars | 6,592,761 | (4,082,954) | (365) | 7,907,164 | 10,416,606 | PDF p. 85 |
| Profit for the financial yearSingapore dollars | – | – | – | 1,462,475 | 1,462,475 | PDF p. 85 |
| Other comprehensive income for the financial year, net of tax | ||||||
| Exchange difference on translating foreign operationSingapore dollars | – | – | 14,588 | – | 14,588 | PDF p. 85 |
| Group changes in equity / 2022 | ||||||
| Total comprehensive income for the financial yearSingapore dollars | – | – | 14,588 | 1,462,475 | 1,477,063 | PDF p. 85 |
| Distributions to owners | ||||||
| DividendsSingapore dollars | – | – | – | (558,655) | (558,655) | PDF p. 85 |
| Group changes in equity / 2022 | ||||||
| Balance as at 31.12.2022Singapore dollars | 6,592,761 | (4,082,954) | 14,223 | 8,810,984 | 11,335,014 | PDF p. 85 |
Definitions & sources
Original report: PDF p. 85 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company changes in equity / 2022
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / Share capital | 2022Company / Treasury shares | 2022Company / Retained earnings | 2022Company / Total equity | Source |
|---|---|---|---|---|---|
| Company changes in equity / 2022 | |||||
| Balance as at 1.1.2022Singapore dollars | 6,592,761 | (4,082,954) | 5,855,659 | 8,365,466 | PDF p. 86 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars | – | – | 2,069,573 | 2,069,573 | PDF p. 86 |
| Distributions to owners | |||||
| DividendsSingapore dollars | – | – | (558,655) | (558,655) | PDF p. 86 |
| Company changes in equity / 2022 | |||||
| Balance as at 31.12.2022Singapore dollars | 6,592,761 | (4,082,954) | 7,366,577 | 9,876,384 | PDF p. 86 |
Definitions & sources
Original report: PDF p. 86 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of cash flows
39 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended 31 December 2022 | Source |
|---|---|---|
| Operating activities | ||
| Profit before income taxSingapore dollars | 1,367,246 | PDF p. 87 |
| Adjustments for: | ||
| Loss allowance on inventoriesSingapore dollars | – | PDF p. 87 |
| Loss allowance on trade and other receivable, netSingapore dollars | 55,079 | PDF p. 87 |
| Amortisation of grant incomeSingapore dollars | (91,521) | PDF p. 87 |
| Amortisation of intangible assetsSingapore dollars | 113,411 | PDF p. 87 |
| Amortisation of right-of-use assetsSingapore dollars | 6,075,076 | PDF p. 87 |
| Depreciation of plant and equipmentSingapore dollars | 565,593 | PDF p. 87 |
| Gain on lease modifi cationsSingapore dollars | (111,916) | PDF p. 87 |
| Gain on disposal of plant and equipmentSingapore dollars | (222,113) | PDF p. 87 |
| Impairment loss on plant and equipmentSingapore dollars | 48,980 | PDF p. 87 |
| Impairment loss on right-of-use assetsSingapore dollars | 586,369 | PDF p. 87 |
| Inventories written offSingapore dollars | 13,090 | PDF p. 87 |
| Interest expenseSingapore dollars | 303,078 | PDF p. 87 |
| Interest income from bank depositsSingapore dollars | (57,101) | PDF p. 87 |
| Bad debts written offSingapore dollars | 748 | PDF p. 87 |
| Plant and equipment written offSingapore dollars | 7,844 | PDF p. 87 |
| Rent concession granted on lease liabilitiesSingapore dollars | (485,014) | PDF p. 87 |
| Reversal of provision of restoration costSingapore dollars | (64,788) | PDF p. 87 |
| Operating cash flows before movements in working capitalSingapore dollars | 8,104,061 | PDF p. 87 |
| InventoriesSingapore dollars | 41,189 | PDF p. 87 |
| Trade and other receivablesSingapore dollars | 628,273 | PDF p. 87 |
| Trade and other payablesSingapore dollars | 441,039 | PDF p. 87 |
| Cash generated from operationsSingapore dollars | 9,214,562 | PDF p. 87 |
| Income taxes paidSingapore dollars | (18,250) | PDF p. 87 |
| Interest receivedSingapore dollars | 57,101 | PDF p. 87 |
| Net cash from operating activitiesSingapore dollars | 9,253,413 | PDF p. 87 |
| Investing activities | ||
| Proceeds from disposal of plant and equipmentSingapore dollars | 170,748 | PDF p. 87 |
| Purchase of plant and equipmentSingapore dollars | (166,379) | PDF p. 87 |
| Purchase of intangible assetsSingapore dollars | (145,191) | PDF p. 87 |
| Net cash used in investing activitiesSingapore dollars | (140,822) | PDF p. 87 |
| Financing activities | ||
| Dividends paidSingapore dollars | (558,655) | PDF p. 87 |
| Grant income receivedSingapore dollars | – | PDF p. 87 |
| Interest paidSingapore dollars | (303,078) | PDF p. 87 |
| Repayment of obligations under leasesSingapore dollars | (5,998,232) | PDF p. 87 |
| Net cash used in financing activitiesSingapore dollars | (6,859,965) | PDF p. 87 |
| Net change in cash and cash equivalentsSingapore dollars | 2,252,626 | PDF p. 87 |
| Cash and cash equivalents at the beginning of the financial yearSingapore dollars | 10,811,226 | PDF p. 87 |
| Effect of currency translation on cash and cash equivalentsSingapore dollars | 3,252 | PDF p. 87 |
| Cash and cash equivalents at the end of the financial yearSingapore dollars | 13,067,104 | PDF p. 87 |
Definitions & sources
Original report: PDF p. 87 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group statement of financial position
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / as at 31 December 2021 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 1,235,050 | PDF p. 78 |
| Investments in subsidiariesSingapore dollars | – | PDF p. 78 |
| Intangible assetsSingapore dollars | 354,454 | PDF p. 78 |
| Right-of-use assetsSingapore dollars | 6,697,309 | PDF p. 78 |
| Deferred tax assetsSingapore dollars | 4,608 | PDF p. 78 |
| Total non-current assetsSingapore dollars | 8,291,421 | PDF p. 78 |
| Current assets | ||
| InventoriesSingapore dollars | 392,054 | PDF p. 78 |
| Trade and other receivablesSingapore dollars | 2,989,645 | PDF p. 78 |
| Current income tax recoverableSingapore dollars | 4,757 | PDF p. 78 |
| Cash and cash equivalentsSingapore dollars | 10,811,226 | PDF p. 78 |
| Total current assetsSingapore dollars | 14,197,682 | PDF p. 78 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 3,478,279 | PDF p. 78 |
| ProvisionsSingapore dollars | 953,516 | PDF p. 78 |
| Lease liabilitiesSingapore dollars | 4,844,234 | PDF p. 78 |
| Current income tax payableSingapore dollars | 38,969 | PDF p. 78 |
| Total current liabilitiesSingapore dollars | 9,314,998 | PDF p. 78 |
| Net current assetsSingapore dollars | 4,882,684 | PDF p. 78 |
| liabilities | ||
| Other payablesSingapore dollars | 72,415 | PDF p. 78 |
| Lease liabilitiesSingapore dollars | 2,656,858 | PDF p. 78 |
| Deferred tax liabilitiesSingapore dollars | 28,226 | PDF p. 78 |
| Total non-current liabilitiesSingapore dollars | 2,757,499 | PDF p. 78 |
| Net assetsSingapore dollars | 10,416,606 | PDF p. 78 |
| Equity | ||
| Share capitalSingapore dollars | 6,592,761 | PDF p. 78 |
| Treasury sharesSingapore dollars | (4,082,954) | PDF p. 78 |
| Translation reserveSingapore dollars | (365) | PDF p. 78 |
| Retained earningsSingapore dollars | 7,907,164 | PDF p. 78 |
| Total equitySingapore dollars | 10,416,606 | PDF p. 78 |
Definitions & sources
Original report: PDF p. 78 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company statement of financial position
27 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / as at 31 December 2021 | Source |
|---|---|---|
| Non-current assets | ||
| Plant and equipmentSingapore dollars | 16,897 | PDF p. 78 |
| Investments in subsidiariesSingapore dollars | 1,664,617 | PDF p. 78 |
| Intangible assetsSingapore dollars | 353,773 | PDF p. 78 |
| Right-of-use assetsSingapore dollars | 194,563 | PDF p. 78 |
| Deferred tax assetsSingapore dollars | – | PDF p. 78 |
| Total non-current assetsSingapore dollars | 2,229,850 | PDF p. 78 |
| Current assets | ||
| InventoriesSingapore dollars | – | PDF p. 78 |
| Trade and other receivablesSingapore dollars | 1,881,612 | PDF p. 78 |
| Current income tax recoverableSingapore dollars | – | PDF p. 78 |
| Cash and cash equivalentsSingapore dollars | 5,008,261 | PDF p. 78 |
| Total current assetsSingapore dollars | 6,889,873 | PDF p. 78 |
| Current liabilities | ||
| Trade and other payablesSingapore dollars | 446,411 | PDF p. 78 |
| ProvisionsSingapore dollars | 40,000 | PDF p. 78 |
| Lease liabilitiesSingapore dollars | 129,703 | PDF p. 78 |
| Current income tax payableSingapore dollars | – | PDF p. 78 |
| Total current liabilitiesSingapore dollars | 616,114 | PDF p. 78 |
| Net current assetsSingapore dollars | 6,273,759 | PDF p. 78 |
| liabilities | ||
| Other payablesSingapore dollars | 72,415 | PDF p. 78 |
| Lease liabilitiesSingapore dollars | 65,728 | PDF p. 78 |
| Deferred tax liabilitiesSingapore dollars | – | PDF p. 78 |
| Total non-current liabilitiesSingapore dollars | 138,143 | PDF p. 78 |
| Net assetsSingapore dollars | 8,365,466 | PDF p. 78 |
| Equity | ||
| Share capitalSingapore dollars | 6,592,761 | PDF p. 78 |
| Treasury sharesSingapore dollars | (4,082,954) | PDF p. 78 |
| Translation reserveSingapore dollars | – | PDF p. 78 |
| Retained earningsSingapore dollars | 5,855,659 | PDF p. 78 |
| Total equitySingapore dollars | 8,365,466 | PDF p. 78 |
Definitions & sources
Original report: PDF p. 78 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of comprehensive income
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended 31 December 2021 | Source |
|---|---|---|
| Group comprehensive income | ||
| RevenueSingapore dollars | 29,630,926 | PDF p. 79 |
| Other items of income | ||
| Interest income from bank depositsSingapore dollars | 7,314 | PDF p. 79 |
| Other incomeSingapore dollars | 4,559,909 | PDF p. 79 |
| Other items of expense | ||
| Changes in inventoriesSingapore dollars | 55,465 | PDF p. 79 |
| Other items of income | ||
| Purchases and other consumablesSingapore dollars | (6,883,619) | PDF p. 79 |
| Employee benefits expenseSingapore dollars | (11,323,319) | PDF p. 79 |
| Depreciation and amortisation expensesSingapore dollars | (6,636,796) | PDF p. 79 |
| Impairment loss on plant and equipmentSingapore dollars | (237,252) | PDF p. 79 |
| Impairment loss on right-of-use assetsSingapore dollars | (287,531) | PDF p. 79 |
| Loss allowance on trade and other receivables, netSingapore dollars | (12,634) | PDF p. 79 |
| Other expensesSingapore dollars | (7,953,653) | PDF p. 79 |
| Finance costsSingapore dollars | (235,627) | PDF p. 79 |
| Profit before income taxSingapore dollars | 683,183 | PDF p. 79 |
| Income tax creditSingapore dollars | 90,218 | PDF p. 79 |
| Profit for the financial year attributable to owners of the CompanySingapore dollars | 773,401 | PDF p. 79 |
| or loss: | ||
| Exchange difference on translating foreign operationSingapore dollars | 1,989 | PDF p. 79 |
| Other comprehensive income for the financial | ||
| year, net of taxSingapore dollars | 1,989 | PDF p. 79 |
| Total comprehensive income for the financial year attributable to owners of the CompanySingapore dollars | 775,390 | PDF p. 79 |
| Earnings per share attributable to owners of the Company (cents) | ||
| Basic and dilutedSingapore cents per share | 0.28 | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group changes in equity / 2021
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / Share capital | 2021Group / Treasury shares | 2021Group / Translation reserve | 2021Group / Retained earnings | 2021Group / Total equity | Source |
|---|---|---|---|---|---|---|
| Group changes in equity / 2021 | ||||||
| Balance as at 1.1.2021Singapore dollars | 6,592,761 | (4,082,954) | (2,354) | 7,692,418 | 10,199,871 | PDF p. 80 |
| Profit for the financial yearSingapore dollars | – | – | – | 773,401 | 773,401 | PDF p. 80 |
| the financial year, net of tax | ||||||
| Exchange difference on translating foreign operationSingapore dollars | – | – | 1,989 | – | 1,989 | PDF p. 80 |
| Group changes in equity / 2021 | ||||||
| Total comprehensive income for the financial yearSingapore dollars | – | – | 1,989 | 773,401 | 775,390 | PDF p. 80 |
| Distributions to owners | ||||||
| DividendsSingapore dollars | – | – | – | (558,655) | (558,655) | PDF p. 80 |
| Group changes in equity / 2021 | ||||||
| Balance as at 31.12.2021Singapore dollars | 6,592,761 | (4,082,954) | (365) | 7,907,164 | 10,416,606 | PDF p. 80 |
Definitions & sources
Original report: PDF p. 80 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Company changes in equity / 2021
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / Share capital | 2021Company / Treasury shares | 2021Company / Retained earnings | 2021Company / Total equity | Source |
|---|---|---|---|---|---|
| Company changes in equity / 2021 | |||||
| Balance as at 1.1.2021Singapore dollars | 6,592,761 | (4,082,954) | 6,216,673 | 8,726,480 | PDF p. 81 |
| Profit for the financial year, representing total comprehensive income for the financial yearSingapore dollars | – | – | 197,641 | 197,641 | PDF p. 81 |
| Distributions to owners | |||||
| DividendsSingapore dollars | – | – | (558,655) | (558,655) | PDF p. 81 |
| Company changes in equity / 2021 | |||||
| Balance as at 31.12.2021Singapore dollars | 6,592,761 | (4,082,954) | 5,855,659 | 8,365,466 | PDF p. 81 |
Definitions & sources
Original report: PDF p. 81 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Group consolidated statement of cash flows
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended 31 December 2021 | Source |
|---|---|---|
| Operating activities | ||
| Profit before income taxSingapore dollars | 683,183 | PDF p. 82 |
| Adjustments for: | ||
| Loss allowance on trade and other receivable, netSingapore dollars | 12,634 | PDF p. 82 |
| Amortisation of grant incomeSingapore dollars | – | PDF p. 82 |
| Amortisation of intangible assetsSingapore dollars | 25,923 | PDF p. 82 |
| Amortisation of right-of-use assetsSingapore dollars | 5,720,425 | PDF p. 82 |
| Depreciation of plant and equipmentSingapore dollars | 890,448 | PDF p. 82 |
| Gain on lease modifi cationsSingapore dollars | – | PDF p. 82 |
| Gain on disposal of plant and equipmentSingapore dollars | (2,899) | PDF p. 82 |
| Impairment loss on plant and equipmentSingapore dollars | 237,252 | PDF p. 82 |
| Impairment loss on right-of-use assetsSingapore dollars | 287,531 | PDF p. 82 |
| Inventories written offSingapore dollars | 22,720 | PDF p. 82 |
| Interest expenseSingapore dollars | 235,627 | PDF p. 82 |
| Interest income from bank depositsSingapore dollars | (7,314) | PDF p. 82 |
| Bad debts written offSingapore dollars | 12,841 | PDF p. 82 |
| Plant and equipment written offSingapore dollars | 3,243 | PDF p. 82 |
| Rent concession granted on lease liabilitiesSingapore dollars | (765,603) | PDF p. 82 |
| Reversal of provision of restoration costSingapore dollars | – | PDF p. 82 |
| Operating cash flows before movements in working capitalSingapore dollars | 7,356,011 | PDF p. 82 |
| InventoriesSingapore dollars | (55,465) | PDF p. 82 |
| Trade and other receivablesSingapore dollars | 491,356 | PDF p. 82 |
| Trade and other payablesSingapore dollars | (452,376) | PDF p. 82 |
| Cash generated from operationsSingapore dollars | 7,339,526 | PDF p. 82 |
| Income taxes paidSingapore dollars | (112,685) | PDF p. 82 |
| Interest receivedSingapore dollars | 7,314 | PDF p. 82 |
| Net cash from operating activitiesSingapore dollars | 7,234,155 | PDF p. 82 |
| Investing activities | ||
| Proceeds from disposal of plant and equipmentSingapore dollars | 2,899 | PDF p. 82 |
| Purchase of plant and equipmentSingapore dollars | (133,592) | PDF p. 82 |
| Purchase of intangible assetsSingapore dollars | (219,426) | PDF p. 82 |
| Net cash used in investing activitiesSingapore dollars | (350,119) | PDF p. 82 |
| Financing activities | ||
| Dividends paidSingapore dollars | (558,655) | PDF p. 82 |
| Interest paidSingapore dollars | (235,627) | PDF p. 82 |
| Repayment of obligations under leasesSingapore dollars | (5,378,857) | PDF p. 82 |
| Net cash used in financing activitiesSingapore dollars | (6,173,139) | PDF p. 82 |
| Net change in cash and cash equivalentsSingapore dollars | 710,897 | PDF p. 82 |
| Cash and cash equivalents at the beginning of the financial yearSingapore dollars | 10,100,329 | PDF p. 82 |
| Effect of currency translation on cash and cash equivalentsSingapore dollars | – | PDF p. 82 |
| Cash and cash equivalents at the end of the financial yearSingapore dollars | 10,811,226 | PDF p. 82 |
Definitions & sources
Original report: PDF p. 82 ↗
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
Where the money comes from
Segment information
By business
Summarised segment information by business segment 14 lines
| Item / unit | 2025Operation of restaurants | 2024Operation of restaurants | 2025Food processing, distribution and procurement services | 2024Food processing, distribution and procurement services | 2025Others | 2024Others | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Segment revenue | |||||||||
| Total segment revenue$ | 35,723,219 | 36,004,423 | 4,747,223 | 5,278,098 | – | – | 40,470,442 | 41,282,521 | PDF p. 118 |
| Inter-segment revenue$ | – | – | (2,946,732) | (2,870,036) | – | – | (2,946,732) | (2,870,036) | PDF p. 118 |
| Revenue from external customers$ | 35,723,219 | 36,004,423 | 1,800,491 | 2,408,062 | – | – | 37,523,710 | 38,412,485 | PDF p. 118 |
| Results | |||||||||
| Segment (loss)$ | (170,938) | (2,371,232) | (774,284) | (259,408) | (375,869) | (431,095) | (1,321,091) | (3,061,735) | PDF p. 118 |
| Other segment items | |||||||||
| Depreciation and amortisation$ | 7,339,042 | 7,493,836 | 426,064 | 491,635 | – | – | 7,765,106 | 7,985,471 | PDF p. 118 |
| Impairment loss on right-of-use assets$ | 205,842 | 673,650 | 122,990 | 80,740 | – | – | 328,832 | 754,390 | PDF p. 118 |
| Impairment loss on plant and equipment$ | 4,555 | 611,330 | 27,158 | 93,012 | – | – | 31,713 | 704,342 | PDF p. 118 |
| Interest expenses$ | 473,530 | 566,449 | 19,761 | 21,664 | – | – | 493,291 | 588,113 | PDF p. 118 |
| Income tax (expense)/credit$ | (37,106) | 212,835 | – | 8,484 | (52,258) | 17,680 | (89,364) | 238,999 | PDF p. 118 |
| Assets | |||||||||
| Segment assets/total assets$ | 20,082,739 | 22,726,924 | 2,507,623 | 3,145,237 | 44,679 | 11,079 | 22,635,041 | 25,883,240 | PDF p. 118 |
| Liabilities | |||||||||
| Segment liabilities/total liabilities$ | 13,915,294 | 16,201,908 | 1,644,835 | 1,225,978 | 267,933 | 286,600 | 15,828,062 | 17,714,486 | PDF p. 118 |
| Capital expenditure | |||||||||
| - on plant and equipment$ | 818,953 | 1,604,389 | 132,120 | 166,086 | – | – | 951,073 | 1,770,475 | PDF p. 118 |
| - on right-of-use assets$ | 5,674,444 | 5,228,935 | 742,582 | 277,651 | – | – | 6,417,026 | 5,506,586 | PDF p. 118 |
| - on intangible assets$ | 7,980 | 12,676 | 225 | 1,147 | – | – | 8,205 | 13,823 | PDF p. 118 |
Notes
Impairment rows wrap across two lines; label continues 'assets'/'equipment' in the quoted line. Interest income and Loss for the financial year are shown only in the Total columns (2025, 2024). Segment performance is evaluated on operating profit or loss. 'Others' includes investment holding activities not allocated to reportable segments. Interest income is not allocated to segments.
Debt
Borrowings
Lease liabilities - maturity analysis and current/non-current split
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Contractual undiscounted cash flows | |||||
| - Not later than a year$ | 6,098,210 | 6,943,149 | 146,241 | 69,596 | PDF p. 106 |
| - Between one and five years$ | 5,459,471 | 6,155,674 | 73,120 | – | PDF p. 106 |
| Less: Future interest expense$ | (464,072) | (666,970) | (4,097) | (984) | PDF p. 106 |
| Present value of lease liabilities$ | 11,093,609 | 12,431,853 | 215,264 | 68,612 | PDF p. 106 |
| Presented in statements of financial position | |||||
| - Non-current$ | 5,296,543 | 5,919,995 | 72,613 | – | PDF p. 106 |
| - Current$ | 5,797,066 | 6,511,858 | 142,651 | 68,612 | PDF p. 106 |
Notes
No 'after five years' bucket is printed; only 'Not later than a year' and 'Between one and five years'.
Incremental borrowing rate (p.107): 2.39% to 4.90% (2024: 4.23% to 4.90%) for Singapore leases and 6.4% to 6.65% (2024: 6.65%) for Malaysia leases.
Borrowing notes 1 tables
Currency profile of lease liabilities
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Currency profile | |||||
| Singapore dollar$ | 10,018,746 | 11,682,750 | 215,264 | 68,612 | PDF p. 108 |
| Malaysian ringgit$ | 1,074,863 | 749,103 | – | – | PDF p. 108 |
Payout
Dividends & distributions
Dividend policy
| 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 Company’s earnings, general financial condition, results of operations, capital requirement, cash flow, general business condition, development plans and other factors as the Directors may deem appropriate. | Company | PDF p. 64 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| final tax-exempt dividend of 0.025 (2024: 0.05) Singapore cents per share | 0.025 Singapore cents per share | Group and Company; FY2025 proposed final tax-exempt dividend, subject to shareholders' approval at AGM; comparative 2024: 0.05 | PDF p. 115 |
| Final tax-exempt dividend paid of 0.05 (2024: 0.20) Singapore cents per share in respect of the previous financial year | 0.05 Singapore cents per share | Group and Company; paid in 2025 in respect of FY2024; comparative paid in 2024: 0.20 | PDF p. 115 |
| Special tax-exempt dividend paid of Nil (2024: 0.10) Singapore cents per share in respect of the previous financial year | Nil | Group and Company; paid in 2025; comparative paid in 2024: 0.10 Singapore cents per share | PDF p. 115 |
| Dividends paid | 139,664 $ | Group and Company, 2025; comparative 2024: 837,983 | PDF p. 115 |
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 |
|---|---|---|---|
| BDO LLP | BDO LLP | Group | PDF p. 81 |
| The engagement partner | Tay Kai Yuan, Terence | Group | PDF p. 81 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of plant and equipment and right-of-use assets | Impairment assessment of plant and equipment and right-of-use assets | Group | PDF p. 78 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going Concern | The financial statements have been prepared on a going concern basis | Group | PDF p. 88 |
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.
Five full financial years end on 31 December 2021–2025. Original monetary amounts are whole Singapore dollars, not thousands; EPS is in Singapore cents and weighted-average ordinary shares are whole counts. Group and Company financial position/equity are distinct; separate Company income and cash-flow statements are not disclosed.
BDO LLP gives a true-and-fair opinion dated 2 April 2026, partner Tay Kai Yuan, Terence. Impairment assessment of plant/equipment and right-of-use assets is a Key Audit Matter; neither that matter nor the Group net current liability 905,336 implies a modified audit opinion.
FY 2025 Group plant/equipment impairment 31,713 and right-of-use impairment 328,832 are separate expenses from depreciation/amortisation 7,765,106 (whole SGD). Closing plant/equipment 2,674,775 and right-of-use assets 10,018,896 retain their own balance-sheet categories.
FY 2025 Group cash-flow closing cash 6,877,199 equals balance-sheet cash. Net cash change (2,721,555) plus opening 9,590,285 plus currency translation 8,469 reconciles exactly; no pledged-deposit or overdraft deduction is inferred. Operating cash 6,328,240 and lease principal payments (7,499,225) remain separate cash-flow categories.
Lease roll-forwards preserve original additions, modifications, derecognition, principal, interest and exchange effects. FY 2025 Group closing lease liability 11,093,609 equals current 5,797,066 plus noncurrent 5,296,543. Undiscounted contractual payments 11,557,681 less future interest 464,072 equal the same present value; Company figures retain their distinct scope.
FY 2025 basic/diluted loss per share (0.44) cents uses loss attributable to owners (1,227,558) whole SGD and 279,327,700 whole shares; FY 2024 (1.02) cents uses (2,861,283) and the same count. The Group had no dilutive potential ordinary shares.
Five original annuals and twenty-four consecutive original statement comparisons agree for every nonzero printed financial amount. Historical nil presentation rows and original captions may differ; no financial restatement is inferred.
All nine disclosed subsidiaries have 100% effective interest in both years: eight Singapore entities and one Malaysian entity. Five directly held and four indirectly held paths remain separate. Company investment cost 1,600,102 plus deemed investment 1,203,680 less impairment 1,139,165 equals carrying amount 1,664,617 whole SGD; impairment is not an absence of subsidiaries.
The 24 March 2026 ownership register excludes 19,172,300 treasury shares from the 279,327,700-share base; subsidiary holdings are Nil. Twenty registered accounts sum 242,112,439 (printed 86.68%). Public float 25.7% is a separate scope. Spouse and nominee interests overlap registered accounts; Then’s 27,945,000 and Goh’s 21,848,700 are owner-specific interests, not whole DB/KGI nominee totals 27,981,850/21,852,700. Financial-year director interests retain 31 December 2025 and unchanged 21 January 2026 dates.
Annual-report Managing Director Wong Chi Keong biography contains inconsistent historical redesignation dates; its current caption is retained. Separately archived original SGX HTML records Wong Chi Keong ceasing 28 April 2026, Wong Wei Teck becoming CEO 28 April 2026, alternate director Wong William (a different person and brother) appointed 20 May 2026, Then Khek Koon ceasing 2 July 2026 and Tan Choon Seng ceasing 31 July 2026. These are later dated updates, not annual-report offices. No successor chair or committee remediation is inferred.
The annual report proposes a FY 2025 final dividend 0.025 Singapore cent (S$0.00025) per share, excluded from FY 2025 liabilities. Separately dated 29 April 2026 AGM minutes approve the resolution. Cash dividend 139,664 paid in FY 2025 is the prior-year 0.05-cent final dividend; FY 2024 payments included final 558,655 plus special 279,328. Do not treat paid and proposed dividends as one reporting-year distribution.
The selected original FY 2025 official SGX broadcast is 14 April 2026 00:07:54, while the shared catalog date is 13 April 2026; source dates are retained separately.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.