Soon Lian 5MD

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Financials

Annual report

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14 tables

Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group)

19 metrics

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Consolidated Statement of Profit or Loss and Other Comprehensive Income (Group) from Annual report
Metric / unit 2025Group2024Group Source
Profit or loss
Revenue$'000 79,39871,522 PDF p. 76
Cost of sales$'000 (66,145)(56,394) PDF p. 76
Gross profit$'000 13,25315,128 PDF p. 76
Other income$'000 201101 PDF p. 76
Selling and distribution costs$'000 (1,305)(789) PDF p. 76
Administrative expenses$'000 (6,173)(4,818) PDF p. 76
Finance costs$'000 (567)(597) PDF p. 76
Reversal/(Provision) of loss allowance for expected credit losses, net$'000 465(1,887) PDF p. 76
Other expenses$'000 –(561) PDF p. 76
Profit before income tax$'000 5,8746,577 PDF p. 76
Income tax expense$'000 (1,093)(786) PDF p. 76
Profit for the year$'000 4,7815,791 PDF p. 76
Other comprehensive loss
Exchange differences on translating foreign operations$'000 (34)(4) PDF p. 76
Total other comprehensive loss, net of taxation$'000 (34)(4) PDF p. 76
TOTAL COMPREHENSIVE INCOME FOR THE YEAR$'000 4,7475,787 PDF p. 76
Attribution
Profit attributable to owners of the Company, net of taxation$'000 4,7815,791 PDF p. 76
Total comprehensive income attributable to owners of the Company$'000 4,7475,787 PDF p. 76
Earnings per share attributable to owners of the Company (cents)
Basic earnings per sharecents per share 4.435.36 PDF p. 76
Diluted earnings per sharecents per share 4.435.36 PDF p. 76
Definitions & sources

Original report: PDF p. 76 ↗

The accompanying notes form an integral part of and should be read in conjunction with these financial statements.

Component of other comprehensive loss that will be reclassified to profit or loss, net of taxation

Statements of Financial Position - Group

28 metrics

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Statements of Financial Position - Group from Annual report
Metric / unit 2025Group2024Group Source
Non-current assets
Property, plant and equipment$'000 7,4437,760 PDF p. 77
Right-of-use assets$'000 3,2681,276 PDF p. 77
Land use right$'000 1,7611,897 PDF p. 77
Intangible assets$'000 –– PDF p. 77
Investments in subsidiaries$'000 –– PDF p. 77
Deferred tax assets$'000 1,2131,446 PDF p. 77
Total non-current assets$'000 13,68512,379 PDF p. 77
Current assets
Inventories$'000 40,23731,395 PDF p. 77
Trade and other receivables$'000 18,63018,403 PDF p. 77
Prepayments$'000 696641 PDF p. 77
Income tax receivables$'000 272256 PDF p. 77
Cash and cash equivalents$'000 10,47610,021 PDF p. 77
Total current assets$'000 70,31160,716 PDF p. 77
Assets
Total assets$'000 83,99673,095 PDF p. 77
Equity
Share capital$'000 10,57910,579 PDF p. 77
Retained earnings$'000 37,37132,948 PDF p. 77
Other reserves$'000 (51)(51) PDF p. 77
Total equity$'000 47,89943,476 PDF p. 77
Non-current liabilities
Lease liabilities$'000 2,9911,159 PDF p. 77
Borrowings$'000 3,0313,632 PDF p. 77
Total non-current liabilities$'000 6,0224,791 PDF p. 77
Current liabilities
Income tax payables$'000 1,041770 PDF p. 77
Lease liabilities$'000 1,755828 PDF p. 77
Borrowings$'000 5701,179 PDF p. 77
Trade and other payables$'000 26,70922,051 PDF p. 77
Total current liabilities$'000 30,07524,828 PDF p. 77
Liabilities
Total liabilities$'000 36,09729,619 PDF p. 77
Equity and liabilities
Total equity and liabilities$'000 83,99673,095 PDF p. 77
Definitions & sources

Original report: PDF p. 77 ↗

Group columns only (2025, 2024); Company columns in separate table. The accompanying notes form an integral part of and should be read in conjunction with these financial statements.

Statements of Financial Position - Company

16 metrics

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Statements of Financial Position - Company from Annual report
Metric / unit 2025Company2024Company Source
Non-current assets
Property, plant and equipment$'000 –– PDF p. 77
Investments in subsidiaries$'000 11,43411,434 PDF p. 77
Total non-current assets$'000 11,43411,434 PDF p. 77
Current assets
Trade and other receivables$'000 1,3861,568 PDF p. 77
Prepayments$'000 1630 PDF p. 77
Cash and cash equivalents$'000 1,170136 PDF p. 77
Total current assets$'000 2,5721,734 PDF p. 77
Assets
Total assets$'000 14,00613,168 PDF p. 77
Equity
Share capital$'000 10,57910,579 PDF p. 77
Retained earnings$'000 9831,690 PDF p. 77
Total equity$'000 11,56212,269 PDF p. 77
Current liabilities
Income tax payables$'000 20– PDF p. 77
Trade and other payables$'000 2,424899 PDF p. 77
Total current liabilities$'000 2,444899 PDF p. 77
Liabilities
Total liabilities$'000 2,444899 PDF p. 77
Equity and liabilities
Total equity and liabilities$'000 14,00613,168 PDF p. 77
Definitions & sources

Original report: PDF p. 77 ↗

Company columns only; rows with all-dash Company values (e.g. right-of-use assets, borrowings, lease liabilities) omitted for brevity. Quotes are the full printed row including Group columns.

Consolidated Statement of Profit or Loss and Other Comprehensive Income

8 metrics

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Consolidated Statement of Profit or Loss and Other Comprehensive Income from Annual report
Metric / unit 2025Group2024Group Source
Profit
Profit for the year$’000 4,7815,791 PDF p. 76
Other comprehensive loss
Exchange differences on translating foreign operations$’000 (34)(4) PDF p. 76
Total other comprehensive loss, net of taxation$’000 (34)(4) PDF p. 76
Total comprehensive income
TOTAL COMPREHENSIVE INCOME FOR THE YEAR$’000 4,7475,787 PDF p. 76
Attribution
Profit attributable to owners of the Company, net of taxation$’000 4,7815,791 PDF p. 76
Total comprehensive income attributable to owners of the Company$’000 4,7475,787 PDF p. 76
Earnings per share
Basic earnings per sharecents 4.435.36 PDF p. 76
Diluted earnings per sharecents 4.435.36 PDF p. 76
Definitions & sources

Original report: PDF p. 76 ↗

Note column omitted from values. EPS in cents. No separate Company income statement presented.

Statements of Changes in Equity - Group

8 metrics

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Statements of Changes in Equity - Group from Annual report
Metric / unit 2025Group - Share capital2025Group - Retained earnings2025Group - Other reserves2025Group - Total equity Source
Group
Balance at 1 January 2024$’000 10,57927,373(47)37,905 PDF p. 78
Group - FY2024
Total comprehensive income for the financial year$’000 –5,791(4)5,787 PDF p. 78
Dividend paid (Note 32)$’000 –(216)–(216) PDF p. 78
Group
Balance at 31 December 2024$’000 10,57932,948(51)43,476 PDF p. 78
Group - FY2025
Total comprehensive income for the financial year$’000 –4,781(34)4,747 PDF p. 78
Dividend paid (Note 32)$’000 –(324)–(324) PDF p. 78
Transfer (from)/to retained earnings$’000 –(34)34– PDF p. 78
Group
Balance at 31 December 2025$’000 10,57937,371(51)47,899 PDF p. 78
Definitions & sources

Original report: PDF p. 78 ↗

Rows are dated balances/movements for FY2024 and FY2025 as labelled; column year is the statement year. No non-controlling interests column is presented.

Statements of Changes in Equity - Company

7 metrics

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Statements of Changes in Equity - Company from Annual report
Metric / unit 2025Company - Share capital2025Company - Retained earnings2025Company - Total equity Source
Company
Balance at 1 January 2024$’000 10,5791,60312,182 PDF p. 78
Company - FY2024
Profit for the year, representing total comprehensive income for the financial year$’000 –303303 PDF p. 78
Dividend paid (Note 32)$’000 –(216)(216) PDF p. 78
Company
Balance at 31 December 2024$’000 10,5791,69012,269 PDF p. 78
Company - FY2025
Loss for the year, representing total comprehensive income for the financial year$’000 –(383)(383) PDF p. 78
Dividend paid (Note 32)$’000 –(324)(324) PDF p. 78
Company
Balance at 31 December 2025$’000 10,57998311,562 PDF p. 78
Definitions & sources

Original report: PDF p. 78 ↗

Rows are dated balances/movements for FY2024 and FY2025 as labelled.

Consolidated Statement of Cash Flows

32 metrics

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Consolidated Statement of Cash Flows from Annual report
Metric / unit 2025Group2024Group Source
Operating activities
Profit before income tax$’000 5,8746,577 PDF p. 79
Operating activities - Adjustments
Interest income$’000 (12)(30) PDF p. 79
Interest expenses$’000 567597 PDF p. 79
Depreciation of property, plant and equipment$’000 993927 PDF p. 79
Depreciation of right-of-use assets$’000 832749 PDF p. 79
Amortisation of land use right$’000 136135 PDF p. 79
Reversal/(Provision) of loss allowance for expected credit losses, net$’000 (465)1,887 PDF p. 79
Reversal of inventories obsolescence$’000 (556)(2,848) PDF p. 79
Gains on disposal of plant and equipment$’000 (8)(20) PDF p. 79
Net effect of exchange rate changes in consolidating foreign operations$’000 (7)(8) PDF p. 79
Operating activities
Operating cash flows before movements in working capital$’000 7,3547,966 PDF p. 79
Operating activities - Changes in working capital
Cash restricted in use$’000 100– PDF p. 79
Inventories$’000 (8,286)(323) PDF p. 79
Trade and other receivables$’000 178(4,422) PDF p. 79
Prepayments$’000 187(155) PDF p. 79
Trade and other payables$’000 (935)3,872 PDF p. 79
Operating activities
Cash (used in)/generated from operations$’000 (1,402)6,938 PDF p. 79
Income taxes paid$’000 (599)(637) PDF p. 79
Cash flows (used in)/generated from operating activities$’000 (2,001)6,301 PDF p. 79
Investing activities
Proceeds from disposal of plant and equipment$’000 1226 PDF p. 79
Purchase of property, plant and equipment$’000 (831)(959) PDF p. 79
Interest received$’000 1230 PDF p. 79
Cash flows used in investing activities$’000 (807)(903) PDF p. 79
Financing activities
Repayments of borrowings and bills payables to banks$’000 (4,988)(5,167) PDF p. 79
Proceeds from new borrowings and bills payables to banks$’000 9,3153,722 PDF p. 79
Lease liabilities$’000 (205)(991) PDF p. 79
Interest paid$’000 (435)(512) PDF p. 79
Dividend paid$’000 (324)(216) PDF p. 79
Cash flows generated from/(used in) financing activities$’000 3,363(3,164) PDF p. 79
Net change in cash
Net increase in cash and cash equivalents$’000 5552,234 PDF p. 79
Cash and cash equivalents at beginning of the financial year$’000 9,9217,687 PDF p. 79
Cash and cash equivalents at end of the financial year$’000 10,4769,921 PDF p. 79
Definitions & sources

Original report: PDF p. 79 ↗

Note column omitted from values. No Company cash flow statement presented.

Reconciliation of liabilities arising from financing activities - 2025

3 metrics

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Reconciliation of liabilities arising from financing activities - 2025 from Annual report
Metric / unit 2025Group - 1 January 20252025Group - Financing cash flows2025Group - Non-cash: Acquisition2025Group - Non-cash: Interest expenses2025Group - Non-cash: Foreign exchange movement2025Group - 31 December 2025 Source
Liabilities
Borrowings$’000 4,811(1,210)–––3,601 PDF p. 80
Bills payables to banks$’000 3,7225,537––569,315 PDF p. 80
Lease liabilities$’000 1,987(205)2,82313294,746 PDF p. 80
Definitions & sources

Original report: PDF p. 80 ↗

Non-cash movements grouped under Acquisition, Interest expenses, Foreign exchange movement.

Reconciliation of liabilities arising from financing activities - 2024

3 metrics

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Reconciliation of liabilities arising from financing activities - 2024 from Annual report
Metric / unit 2024Group - 1 January 20242024Group - Financing cash flows2024Group - Non-cash: Acquisition2024Group - Non-cash: Interest expenses2024Group - Non-cash: Foreign exchange movement2024Group - 31 December 2024 Source
Liabilities
Borrowings$’000 8,250(3,439)–––4,811 PDF p. 80
Bills payables to banks$’000 1,7311,994––(3)3,722 PDF p. 80
Lease liabilities$’000 2,346(991)5438541,987 PDF p. 80
Definitions & sources

Original report: PDF p. 80 ↗

Non-cash movements grouped under Acquisition, Interest expenses, Foreign exchange movement.

Financial Highlights - Income Statement

6 metrics

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Financial Highlights - Income Statement from Annual report
Metric / unit 2025Group FY2025, S$'0002024Group FY2024, S$'0002023Group FY2023, S$'000 Source
INCOME STATEMENT
RevenueS$'000 79,39871,52258,132 PDF p. 14
Gross profitS$'000 13,25315,1283,724 PDF p. 14
Profit/(Loss) before income taxS$'000 5,8746,577(4,649) PDF p. 14
Income tax (expense)/creditS$'000 (1,093)(786)116 PDF p. 14
Profit/(Loss) for the yearS$'000 4,7815,791(4,533) PDF p. 14
Earnings/(Losses) per share (in cents)cents 4.435.36(4.20) PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Financial Highlights - Balance Sheet

9 metrics

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Financial Highlights - Balance Sheet from Annual report
Metric / unit 2025Group as at 31.12.2025, S$'0002024Group as at 31.12.2024, S$'0002023Group as at 31.12.2023, S$'000 Source
Assets
Non-current assetsS$'000 13,68512,37911,919 PDF p. 14
Current assetsS$'000 70,31160,71653,367 PDF p. 14
Total assetsS$'000 83,99673,09565,286 PDF p. 14
Equity and Liabilities
Total equityS$'000 47,89943,47637,905 PDF p. 14
Non-current liabilitiesS$'000 6,0224,7916,285 PDF p. 14
Current liabilitiesS$'000 30,07524,82821,096 PDF p. 14
Total liabilitiesS$'000 36,09729,61927,381 PDF p. 14
Total equity and liabilitiesS$'000 83,99673,09565,286 PDF p. 14
Net asset value per share (in cents)cents 44.440.335.1 PDF p. 14
Definitions & sources

Original report: PDF p. 14 ↗

Note 10 Earnings per share (Group)

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Note 10 Earnings per share (Group) from Annual report
Metric / unit 2025Group 20252024Group 2024 Source
Earnings per share
Profit for the financial year attributable to ordinary equity holders of the Company$'000 4,7815,791 PDF p. 100
Weighted average number of ordinary shares in issue at beginning and end of the financial yearNo. of shares '000 108,000108,000 PDF p. 100
Definitions & sources

Original report: PDF p. 100 ↗

Both basic and diluted earnings per share are the same as there are no dilutive ordinary share equivalents outstanding during the financial year.

Basic and diluted EPS 4.43 (2025) and 5.36 (2024) cents per income statement on page 76.

Note 31 Capital management - Debt-to-adjusted capital ratio (Group)

3 metrics

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Note 31 Capital management - Debt-to-adjusted capital ratio (Group) from Annual report
Metric / unit 2025Group 2025, $'0002024Group 2024, $'000 Source
Net debt
Net debt$'000 7,186599 PDF p. 128
Adjusted capital
Adjusted capital$'000 47,89943,476 PDF p. 128
Debt-to-adjusted capital ratioratio 0.150.01 PDF p. 128
Definitions & sources

Original report: PDF p. 128 ↗

Net debt = all current and non-current borrowings including leases (17,662 in 2025; 10,520 in 2024) less cash and cash equivalents (10,476; 9,921).

Note 32 Dividends (Group)

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Note 32 Dividends (Group) from Annual report
Metric / unit 2025Group 2025, $'0002024Group 2024, $'000 Source
Ordinary dividends
Final dividend paid in respect of the previous financial year of $0.003 (2024: $0.002) per ordinary share$'000 324216 PDF p. 128
Definitions & sources

Original report: PDF p. 128 ↗

Group declared final tax-exempt dividend of $0.003 per ordinary share totalling approximately $324,000 in respect of FY ended 31 December 2024.

Company proposed a final tax-exempt dividend of $0.004 per ordinary share totalling approximately $432,000 in respect of FY ended 31 December 2025, subject to shareholder approval at the next AGM (0.4 Singapore cent per share per Letter to Shareholders).

Where the money comes from

Segment information

By business

Profit or loss from operations and reconciliations, 2025 (by business segment) 5 lines
Profit or loss from operations and reconciliations, 2025 (by business segment)
Item / unit 2025Precision engineering2025Marine2025Stockists and traders2025Other customers2025Unallocated2025Group Source
Revenue by segment
Total revenue by segment$'000 51,56518,1347,7781,921–79,398 PDF p. 114
Profit or loss
Recurring EBITDA$'000 7,4974,1781,0551,42755614,713 PDF p. 114
Finance costs$'000 ––––(567)(567) PDF p. 114
Depreciation and amortisation$'000 ––––(1,961)(1,961) PDF p. 114
ORBT$'000 7,4974,1781,0551,427(1,972)12,185 PDF p. 114
Notes

Other unallocated items, Profit before income tax, Income tax expense and Profit for the year are printed only in the Unallocated (for other unallocated items, with Group) / Group position without segment cells; values listed as printed (Other unallocated items: Unallocated, Group; the last three: Group only).

Recurring EBITDA = earnings from operations before depreciation and amortisation, interests and income taxes; ORBT = operating result before income taxes and other unallocated items.

Profit or loss from operations and reconciliations, 2024 (by business segment) 5 lines
Profit or loss from operations and reconciliations, 2024 (by business segment)
Item / unit 2024Precision engineering2024Marine2024Stockists and traders2024Other customers2024Unallocated2024Group Source
Revenue by segment
Total revenue by segment$'000 43,41318,0268,4621,621–71,522 PDF p. 115
Profit or loss
Recurring EBITDA$'000 7,3334,1941,2318982,84816,504 PDF p. 115
Finance costs$'000 ––––(597)(597) PDF p. 115
Depreciation and amortisation$'000 ––––(1,811)(1,811) PDF p. 115
ORBT$'000 7,3334,1941,23189844014,096 PDF p. 115
Notes

Other unallocated items printed with Unallocated and Group values only; Profit before income tax, Income tax expense and Profit for the year are Group only.

Assets and reconciliations, 2025 (by business segment) 9 lines
Assets and reconciliations, 2025 (by business segment)
Item / unit 2025Precision engineering2025Marine2025Stockists and traders2025Other customers2025Unallocated2025Group Source
Assets
Total assets for reportable segments$'000 14,793734772450–16,749 PDF p. 115
Unallocated
Property, plant and equipment$'000 ––––7,4437,443 PDF p. 115
Right-of-use assets$'000 ––––3,2683,268 PDF p. 115
Land use right$'000 ––––1,7611,761 PDF p. 115
Deferred tax assets$'000 ––––1,2131,213 PDF p. 115
Inventories$'000 ––––40,23740,237 PDF p. 115
Cash and cash equivalents$'000 ––––10,47610,476 PDF p. 115
Other unallocated amounts$'000 ––––2,8492,849 PDF p. 115
Assets
Total group assets$'000 14,79373477245067,24783,996 PDF p. 115
Notes

Segment assets consist principally of trade receivables.

Unallocated assets comprise property, plant and equipment, inventories, other non-financial assets, other receivables, cash and cash equivalents, right-of-use assets, land use right and deferred tax assets.

Assets and reconciliations, 2024 (by business segment) 10 lines
Assets and reconciliations, 2024 (by business segment)
Item / unit 2024Precision engineering2024Marine2024Stockists and traders2024Other customers2024Unallocated2024Group Source
Assets
Total assets for reportable segments$'000 10,0422,5354,50447–17,128 PDF p. 116
Unallocated
Property, plant and equipment$'000 ––––7,7607,760 PDF p. 116
Right-of-use assets$'000 ––––1,2761,276 PDF p. 116
Land use right$'000 ––––1,8971,897 PDF p. 116
Deferred tax assets$'000 ––––1,4461,446 PDF p. 116
Inventories$'000 ––––31,39531,395 PDF p. 116
Restricted cash$'000 ––––100100 PDF p. 116
Cash and cash equivalents$'000 ––––9,9219,921 PDF p. 116
Other unallocated amounts$'000 ––––2,1722,172 PDF p. 116
Assets
Total group assets$'000 10,0422,5354,5044755,96773,095 PDF p. 116
Notes

Segment assets consist principally of trade receivables.

Liabilities and reconciliations, 2025 (by business segment) 5 lines
Liabilities and reconciliations, 2025 (by business segment)
Item / unit 2025Precision engineering2025Marine2025Stockists and traders2025Other customers2025Unallocated2025Group Source
Unallocated
Income tax payable$'000 ––––1,0411,041 PDF p. 116
Borrowings$'000 ––––3,6013,601 PDF p. 116
Lease liabilities$'000 ––––4,7464,746 PDF p. 116
Trade and other payables$'000 ––––26,70926,709 PDF p. 116
Liabilities
Total group liabilities$'000 ––––36,09736,097 PDF p. 116
Notes

All liabilities are unallocated.

Liabilities and reconciliations, 2024 (by business segment) 5 lines
Liabilities and reconciliations, 2024 (by business segment)
Item / unit 2024Precision engineering2024Marine2024Stockists and traders2024Other customers2024Unallocated2024Group Source
Unallocated
Income tax payable$'000 ––––770770 PDF p. 116
Borrowings$'000 ––––4,8114,811 PDF p. 116
Lease liabilities$'000 ––––1,9871,987 PDF p. 116
Trade and other payables$'000 ––––22,05122,051 PDF p. 116
Liabilities
Total group liabilities$'000 ––––29,61929,619 PDF p. 116
Notes

All liabilities are unallocated.

Other material items and reconciliations: impairment/(reversal) and capital expenditures (by business segment) 2 lines
Other material items and reconciliations: impairment/(reversal) and capital expenditures (by business segment)
Item / unit 2025Precision engineering2025Marine2025Stockists and traders2025Other customers2025Unallocated2025Group Source
Other material items
Impairment/(reversal) of receivables and inventories, (net) 2025$'000 (465)–––(556)(1,021) PDF p. 117
Capital expenditures
Capital expenditures 2025$'000 ––––649649 PDF p. 117
Notes

Columns apply to 2025 rows only; 2024 is in a separate table.

Other material items and reconciliations: impairment/(reversal) and capital expenditures, 2024 rows 2 lines
Other material items and reconciliations: impairment/(reversal) and capital expenditures, 2024 rows
Item / unit 2024Precision engineering2024Marine2024Stockists and traders2024Other customers2024Unallocated2024Group Source
Other material items
Impairment/(reversal) of receivables and inventories, (net) 2024$'000 6581,00819328(2,848)(961) PDF p. 117
Capital expenditures
Capital expenditures 2024$'000 ––––1,8971,897 PDF p. 117
Notes

Same column header as the 2025 rows on the page.

Information about major customers (Group revenue) 2 lines
Information about major customers (Group revenue)
Item / unit 2025Group2024Group Source
Revenue
Customer in precision engineering segment$'000 –7,832 PDF p. 117
Customer in marine segment$'000 9,8259,830 PDF p. 117
Notes

There is 1 customer (2024: 2 customers) with revenue transactions of over 10% of the Group revenue in 2025.

By geography

Geographical information: Revenue and Non-current assets 7 lines
Geographical information: Revenue and Non-current assets
Item / unit 2025Revenue2024Revenue2025Non-current assets2024Non-current assets Source
Geographical information
Singapore$'000 23,46119,9508,6068,519 PDF p. 117
Malaysia$'000 21,51025,2141,6321,237 PDF p. 117
China$'000 15,80511,6437901,024 PDF p. 117
Taiwan$'000 9,9807,2301,444153 PDF p. 117
Indonesia$'000 2,6481,194–– PDF p. 117
Other countries$'000 5,9946,291–– PDF p. 117
Total operations$'000 79,39871,52212,47210,933 PDF p. 117
Notes

Revenues are attributed to countries on the basis of the customer’s location, irrespective of the origin of the goods and services. The non-current assets are analysed by the geographical area in which the assets are located. The non-current assets exclude any financial instruments and deferred tax assets.

Debt

Borrowings

Borrowing notes 2 tables

Borrowings

Borrowings — Group
Item / unit 2025$'0002024$'000 Source
Secured
Bank borrowings$'000 3,6014,129 PDF p. 110
Unsecured
Bank borrowings$'000 –682 PDF p. 110
Current
Less: Amount due for settlement within 12 months (shown under current liabilities)$'000 (570)(1,179) PDF p. 110
Non-current
Amount due for settlement after 12 months$'000 3,0313,632 PDF p. 110
Notes

Total borrowings 3,601 (2025) and 4,811 (2024). Bank loan A: effective rate 2.86% (2024: 4.75%), repriced quarterly, fully repaid by May 2033, secured by first mortgage over leasehold property and land use right plus corporate guarantee. Bank loan D: 4.52% (2024: 6.54%), fully repaid by September 2028. Loans B and C fully repaid in 2025 (2024 rates 2.25% and 2%). The Group's borrowings are denominated in the Singapore dollar.

Lease liabilities

Lease liabilities — Group
Item / unit 2025$'0002024$'000 Source
Lease liabilities
Lease liabilities, current$'000 1,755828 PDF p. 109
Lease liabilities, non-current$'000 2,9911,159 PDF p. 109
Notes

Total lease liabilities 4,746 (2025) and 1,987 (2024). Maturity analysis disclosed in Note 29.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Provision 11.6 The Company does not have a fixed dividend policy at present. The frequency and amount of dividends declared each year will take into consideration the Group’s profit growth, cash position, projected capital requirements for business growth and other factors as the Board may deem appropriate. The Board will endeavour to maintain a balance between Shareholders’ expectations and prudent capital management. Company PDF p. 61

Dividends declared and proposed

ItemValuePeriod / scopeSource
final tax exempt (one-tier) dividend 0.4 Singapore cents per ordinary share Proposed final dividend for FY2025, tax exempt (one-tier); record date 6 May 2026 (register closed), payment 15 May 2026 if approved PDF p. 136
proposed a final tax-exempt dividend $0.004 Proposed final dividend FY2025, Group/Company PDF p. 128
final tax-exempt dividend $0.003 Comparative: final dividend in respect of FY2024, declared during FY2025 PDF p. 128
final tax-exempt dividend $0.002 Final dividend in respect of FY2023, declared in previous financial year PDF p. 128

Extracted from Annual report and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
Audit firm FORVIS MAZARS LLP Group and Company, FY2025 PDF p. 75
Engagement partner Tan Chee Tyan Group and Company, FY2025 PDF p. 75
Opinion properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)s”) so as to give a true and fair view Group and Company, as at 31 December 2025 · As at 2025-12-31 PDF p. 72

Key audit matters

ItemValuePeriod / scopeSource
Provision for inventories obsolescence The assessment of the provision for inventories obsolescence requires the use of significant judgement and estimates. Group, FY2025 PDF p. 73

Extracted from Annual report 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, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.