Koyo Intl 5OC
Financials
ANNUAL REPORT 2025
Explore the statements
8 tablesConsolidated Statement of Comprehensive Income
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| Revenue$'000 | 118,842 | 47,287 | PDF p. 51 |
| Cost of construction$'000 | (104,613) | (37,387) | PDF p. 51 |
| Gross profit$'000 | 14,229 | 9,900 | PDF p. 51 |
| Other income$'000 | 467 | 602 | PDF p. 51 |
| Expenses | |||
| – Selling and distribution$'000 | (175) | (133) | PDF p. 51 |
| – Administrative$'000 | (9,567) | (9,362) | PDF p. 51 |
| – Allowance for expected credit losses$'000 | – | (14) | PDF p. 51 |
| – Other operating$'000 | (462) | (367) | PDF p. 51 |
| – Finance$'000 | (644) | (568) | PDF p. 51 |
| Income | |||
| Profit before income tax$'000 | 3,848 | 58 | PDF p. 51 |
| Income tax$'000 | (550) | – | PDF p. 51 |
| Net profit$'000 | 3,298 | 58 | PDF p. 51 |
| Other comprehensive income | |||
| Revaluation gains on leasehold property$'000 | – | 2,485 | PDF p. 51 |
| Other comprehensive income, net of tax$'000 | – | 2,484 | PDF p. 51 |
| Total comprehensive income$'000 | 3,298 | 2,542 | PDF p. 51 |
| Profit attributable to | |||
| Equity holders of the Company$'000 | 3,298 | 58 | PDF p. 51 |
| Earnings per share | |||
| – Basiccents per share | 1.74 | 0.03 | PDF p. 51 |
| – Dilutedcents per share | 1.74 | 0.03 | PDF p. 51 |
Definitions & sources
Original report: PDF p. 51 ↗
Net fair value losses on equity instruments at FVOCI (Note 21(b)(i)): 2025 –, 2024 (1). Total comprehensive income attributable to equity holders of the Company: 3,298 (2025), 2,542 (2024).
Statements of Financial Position - Group and Company
30 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current assets | |||||
| Cash and bank balances$'000 | 18,604 | 2,781 | 292 | 185 | PDF p. 52 |
| Trade and other receivables$'000 | 21,578 | 3,311 | 15 | 3 | PDF p. 52 |
| Contract assets$'000 | 31,662 | 30,505 | – | – | PDF p. 52 |
| Inventories$'000 | 17 | 22 | – | – | PDF p. 52 |
| Subtotal$'000 | 71,861 | 36,619 | 307 | 188 | PDF p. 52 |
| Non-current assets | |||||
| Other financial assets$'000 | 14 | 14 | – | – | PDF p. 52 |
| Investments in subsidiaries$'000 | – | – | 18,850 | 18,850 | PDF p. 52 |
| Property, plant and equipment$'000 | 7,564 | 7,607 | – | – | PDF p. 52 |
| Contract assets$'000 | 4,545 | 1,486 | – | – | PDF p. 52 |
| Other receivables$'000 | – | 1,200 | – | – | PDF p. 52 |
| Subtotal$'000 | 12,123 | 10,307 | 18,850 | 18,850 | PDF p. 52 |
| Assets | |||||
| Total assets$'000 | 83,984 | 46,926 | 19,157 | 19,038 | PDF p. 52 |
| Non-current liabilities | |||||
| Lease liabilities$'000 | 915 | 972 | – | – | PDF p. 52 |
| Bank borrowings$'000 | 70 | – | – | – | PDF p. 52 |
| Trade and other payables$'000 | 1,473 | – | – | – | PDF p. 52 |
| Subtotal$'000 | 2,458 | 972 | – | – | PDF p. 52 |
| Current liabilities | |||||
| Trade and other payables$'000 | 56,196 | 21,028 | 1,337 | 779 | PDF p. 52 |
| Bank borrowing$'000 | 1,010 | 4,000 | – | – | PDF p. 52 |
| Provisions$'000 | 770 | 1,150 | – | – | PDF p. 52 |
| Contract liabilities$'000 | – | – | – | – | PDF p. 52 |
| Lease liabilities$'000 | 57 | 131 | – | – | PDF p. 52 |
| Income tax payable$'000 | 550 | – | – | – | PDF p. 52 |
| Subtotal$'000 | 58,583 | 26,309 | 1,337 | 779 | PDF p. 52 |
| Liabilities | |||||
| Total liabilities$'000 | 61,041 | 27,281 | 1,337 | 779 | PDF p. 52 |
| NET ASSETS$'000 | 22,943 | 19,645 | 17,820 | 18,259 | PDF p. 52 |
| Equity | |||||
| Share capital$'000 | 4,477 | 4,477 | 40,072 | 40,072 | PDF p. 52 |
| Treasury shares$'000 | (630) | (630) | (630) | (630) | PDF p. 52 |
| Other reserves$'000 | 4,125 | 4,125 | – | – | PDF p. 52 |
| Retained profits/(accumulated losses)$'000 | 14,971 | 11,673 | (21,622) | (21,183) | PDF p. 52 |
| Total equity$'000 | 22,943 | 19,645 | 17,820 | 18,259 | PDF p. 52 |
Definitions & sources
Original report: PDF p. 52 ↗
Equity section caption: Capital and reserves attributable to equity holders of the Company.
Consolidated Statement of Comprehensive Income
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income | |||
| Revenue$'000 | 118,842 | 47,287 | PDF p. 51 |
| Cost of construction$'000 | (104,613) | (37,387) | PDF p. 51 |
| Gross profit$'000 | 14,229 | 9,900 | PDF p. 51 |
| Other income$'000 | 467 | 602 | PDF p. 51 |
| Expenses | |||
| – Selling and distribution$'000 | (175) | (133) | PDF p. 51 |
| – Administrative$'000 | (9,567) | (9,362) | PDF p. 51 |
| – Allowance for expected credit losses$'000 | – | (14) | PDF p. 51 |
| – Other operating$'000 | (462) | (367) | PDF p. 51 |
| – Finance$'000 | (644) | (568) | PDF p. 51 |
| Income | |||
| Profit before income tax$'000 | 3,848 | 58 | PDF p. 51 |
| Income tax$'000 | (550) | – | PDF p. 51 |
| Net profit$'000 | 3,298 | 58 | PDF p. 51 |
| Other comprehensive income/(loss) | |||
| Revaluation gains on leasehold property$'000 | – | 2,485 | PDF p. 51 |
| Other comprehensive income, net of tax$'000 | – | 2,484 | PDF p. 51 |
| Total comprehensive income$'000 | 3,298 | 2,542 | PDF p. 51 |
| Profit attributable to | |||
| Equity holders of the Company$'000 | 3,298 | 58 | PDF p. 51 |
| Total comprehensive income attributable to | |||
| Equity holders of the Company$'000 | 3,298 | 2,542 | PDF p. 51 |
| Earnings per share | |||
| – Basiccents per share | 1.74 | 0.03 | PDF p. 51 |
| – Dilutedcents per share | 1.74 | 0.03 | PDF p. 51 |
Definitions & sources
Original report: PDF p. 51 ↗
Net fair value losses on equity instruments at FVOCI (Note 21(b)(i)): 2025 –, 2024 (1). Only the Group is presented; no separate Company comprehensive income statement.
Consolidated Statement of Changes in Equity - Group 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group - Share capital | 2025Group - Treasury shares | 2025Group - Other reserves | 2025Group - Retained profits | 2025Group - Total equity | Source |
|---|---|---|---|---|---|---|
| Group | ||||||
| At 1 January 2025$'000 | 4,477 | (630) | 4,125 | 11,673 | 19,645 | PDF p. 53 |
| Profit for the year$'000 | – | – | – | 3,298 | 3,298 | PDF p. 53 |
| Other comprehensive income$'000 | – | – | – | – | – | PDF p. 53 |
| Total comprehensive income for the year$'000 | – | – | – | 3,298 | 3,298 | PDF p. 53 |
| At 31 December 2025$'000 | 4,477 | (630) | 4,125 | 14,971 | 22,943 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Attributable to equity holders of the Company. No non-controlling interest column printed. Row label 'Total comprehensive income for the year' wraps over two lines; quote is the second line.
Consolidated Statement of Changes in Equity - Group 2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group - Share capital | 2024Group - Treasury shares | 2024Group - Other reserves | 2024Group - Retained profits | 2024Group - Total equity | Source |
|---|---|---|---|---|---|---|
| Group | ||||||
| At 1 January 2024$'000 | 4,477 | (630) | 1,641 | 11,615 | 17,103 | PDF p. 53 |
| Profit for the year$'000 | – | – | – | 58 | 58 | PDF p. 53 |
| Other comprehensive income/(loss) | ||||||
| Revaluation gains on leasehold property$'000 | – | – | 2,485 | – | 2,485 | PDF p. 53 |
| Group | ||||||
| Total comprehensive income for the year$'000 | – | – | 2,484 | 58 | 2,542 | PDF p. 53 |
| At 31 December 2024$'000 | 4,477 | (630) | 4,125 | 11,673 | 19,645 | PDF p. 53 |
Definitions & sources
Original report: PDF p. 53 ↗
Net fair value losses on equity securities at FVOCI: other reserves (1), total equity (1) (row wraps over lines; quote: 'other comprehensive income – – (1) – (1)'). Labels for wrapped rows are first line fragments; quotes are the line carrying the values.
Consolidated Statement of Cash Flows
31 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Net profit before tax$'000 | 3,848 | 58 | PDF p. 54 |
| Operating activities - adjustments | |||
| – Depreciation of property, plant and equipment$'000 | 702 | 721 | PDF p. 54 |
| – Allowance for expected credit losses – trade receivables$'000 | – | 14 | PDF p. 54 |
| – Gains on disposal of financial assets, at FVPL$'000 | – | (48) | PDF p. 54 |
| – Dividend income from financial assets, at FVPL$'000 | – | (2) | PDF p. 54 |
| – Gains on disposal of property, plant and equipment$'000 | (6) | – | PDF p. 54 |
| – Interest expense$'000 | 644 | 568 | PDF p. 54 |
| – Interest income$'000 | (55) | (62) | PDF p. 54 |
| – Provision$'000 | 606 | 1,150 | PDF p. 54 |
| Operating activities | |||
| Operating profit before working capital changes$'000 | 5,739 | 2,399 | PDF p. 54 |
| Changes in working capital | |||
| – Inventories$'000 | 5 | 8 | PDF p. 54 |
| – Trade and other receivables, contract assets$'000 | (21,282) | (6,582) | PDF p. 54 |
| – Trade and other payables, contract liabilities$'000 | 35,986 | (5,174) | PDF p. 54 |
| – Other financial assets at FVPL$'000 | – | 715 | PDF p. 54 |
| – Provisions$'000 | (986) | – | PDF p. 54 |
| Operating activities | |||
| Net cash generated from/(used in) operations$'000 | 19,462 | (8,634) | PDF p. 54 |
| Investing activities | |||
| Additions to property, plant and equipment$'000 | (379) | (35) | PDF p. 54 |
| Proceed on disposal of property, plant & equipment$'000 | 8 | – | PDF p. 54 |
| Interest income received$'000 | 54 | 64 | PDF p. 54 |
| Net cash (used in)/generated from investing activities$'000 | (317) | 29 | PDF p. 54 |
| Financing activities | |||
| Secured bank deposits pledged to banks$'000 | (2) | (2) | PDF p. 54 |
| Interest paid$'000 | (186) | (322) | PDF p. 54 |
| Principal payment of lease liabilities$'000 | (131) | (179) | PDF p. 54 |
| Proceeds from bank borrowings$'000 | 1,000 | – | PDF p. 54 |
| Repayment of bank borrowings$'000 | (4,005) | (1,000) | PDF p. 54 |
| Proceeds from director’s loan$'000 | – | 3,000 | PDF p. 54 |
| Proceeds from related party’s loan$'000 | – | 500 | PDF p. 54 |
| Net cash (used in)/generated from financing activities$'000 | (3,324) | 1,997 | PDF p. 54 |
| Closing cash | |||
| Net increase/(decrease) in cash and cash equivalents$'000 | 15,821 | (6,608) | PDF p. 54 |
| Cash and cash equivalents at 1 January$'000 | 1,652 | 8,260 | PDF p. 54 |
| Cash and cash equivalents at 31 December$'000 | 17,473 | 1,652 | PDF p. 54 |
Definitions & sources
Original report: PDF p. 54 ↗
Note A: The Group acquired property, plant and equipment with an aggregate cost of $661,000 (2024: $256,000), of which $85,000 (2024: $207,000) was acquired under hire purchase, $365,000 (2024: $35,000) was settled in cash and $211,000 is included in other payables (2024: $14,000).
Note B: For the purpose of presenting the statement of cash flows, short-term bank deposits of $1,131,000 (2024: $1,129,000) pledged to bank as securities for the bank facilities have been excluded from cash and bank balances (Note 10).
Five-Year Financial Summary
20 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2023Group | 2022Group | 2021Group | Source |
|---|---|---|---|---|---|---|
| Consolidated Profit or Loss Statement | ||||||
| RevenueS$'000 | 118,842 | 47,287 | 60,980 | 38,701 | 28,043 | PDF p. 10 |
| Profit/(loss) before income taxS$'000 | 3,848 | 58 | 1,536 | (6,025) | (998) | PDF p. 10 |
| Profit/(loss) attributable to equity holders of the CompanyS$'000 | 3,298 | 58 | 1,539 | (6,187) | (903) | PDF p. 10 |
| Consolidated Statement of Financial Position | ||||||
| Property, plant and equipmentS$'000 | 7,564 | 7,607 | 6,237 | 6,302 | 7,034 | PDF p. 10 |
| Cash and bank balancesS$'000 | 18,604 | 2,781 | 9,387 | 8,897 | 13,323 | PDF p. 10 |
| Other assetsS$'000 | 57,816 | 36,538 | 30,646 | 22,261 | 11,465 | PDF p. 10 |
| Total assetsS$'000 | 83,984 | 46,926 | 46,270 | 37,460 | 31,822 | PDF p. 10 |
| Lease liabilitiesS$'000 | 972 | 1,103 | 1,647 | 1,815 | 2,081 | PDF p. 10 |
| Bank borrowingsS$'000 | 1,080 | 4,000 | 5,013 | – | – | PDF p. 10 |
| Loan from a director and a related partyS$'000 | 7,725 | 7,487 | 3,626 | – | – | PDF p. 10 |
| Other liabilitiesS$'000 | 51,264 | 14,691 | 18,881 | 20,078 | 7,985 | PDF p. 10 |
| Total liabilitiesS$'000 | 61,041 | 27,281 | 29,167 | 21,893 | 10,066 | PDF p. 10 |
| Net assetsS$'000 | 22,943 | 19,645 | 17,103 | 15,567 | 21,756 | PDF p. 10 |
| Equity | ||||||
| Share capitalS$'000 | 4,477 | 4,477 | 4,477 | 4,477 | 4,477 | PDF p. 10 |
| Treasury sharesS$'000 | (630) | (630) | (630) | (630) | (630) | PDF p. 10 |
| Other reservesS$'000 | 4,125 | 4,125 | 1,641 | 1,644 | 1,646 | PDF p. 10 |
| Retained profitS$'000 | 14,971 | 11,673 | 11,615 | 10,076 | 16,263 | PDF p. 10 |
| Shareholders’ equityS$'000 | 22,943 | 19,645 | 17,103 | 15,567 | 21,756 | PDF p. 10 |
| Per share | ||||||
| Net asset value of the Group (Note 3)cents (¢) | 12.09 | 10.35 | 9.01 | 8.20 | 11.46 | PDF p. 10 |
| Dividends paid and/or proposed (Note 4) | ||||||
| Final dividendnot stated (per share) | – | – | – | – | – | PDF p. 10 |
Definitions & sources
Original report: PDF p. 10 ↗
(1) Average shareholders’ equity is computed based on the average of shareholders’ equity as at the end of the current and previous financial year.
(2) Earnings per share (basic) is computed based on the weighted average number of ordinary shares outstanding during the year.
(3) Net asset value per share is computed by dividing the shareholders’ equity by the number of ordinary shares in issue at each year end.
(4) No dividend was recommended for FY2025 for the Group to conserve cash resources for ongoing projects.
Note 9 Earnings per share
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Net profit attributable to equity holders of the Company ($’000)$'000 | 3,298 | 58 | PDF p. 76 |
| Weighted average number of ordinary shares outstanding for basic earnings and diluted earnings per share (’000)'000 shares | 189,824 | 189,824 | PDF p. 76 |
| Earnings per share (in cents per share) | |||
| – Basiccents per share | 1.74 | 0.03 | PDF p. 76 |
| – Dilutedcents per share | 1.74 | 0.03 | PDF p. 76 |
Definitions & sources
Original report: PDF p. 76 ↗
Basic EPS is net profit attributable to equity holders divided by weighted average ordinary shares outstanding (excluding treasury shares). There are no potential dilutive ordinary shares as at 31 December 2025 and 31 December 2024.
Where the money comes from
Segment information
By business
Segment information by business segment – Group 4 lines
| Item / unit | 2025Mechanical Engineering | 2025Electrical Engineering | 2025Facilities Management | 2025Investment holding | 2025Total | 2024Mechanical Engineering | 2024Electrical Engineering | 2024Facilities Management | 2024Investment holding | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||
| Revenue from external parties$'000 | 113,350 | – | 5,492 | – | 118,842 | 41,516 | – | 5,723 | 48 | 47,287 | PDF p. 103 |
| Results | |||||||||||
| Gross profit$'000 | 11,887 | – | 2,342 | – | 14,229 | 6,639 | 96 | 3,117 | 48 | 9,900 | PDF p. 103 |
| Assets | |||||||||||
| Segment assets$'000 | 56,016 | 2 | 921 | – | 56,939 | 33,545 | 2 | 990 | – | 34,537 | PDF p. 103 |
| Liabilities | |||||||||||
| Segment liabilities$'000 | 45,733 | 102 | 359 | – | 46,194 | 10,924 | 245 | 769 | – | 11,938 | PDF p. 103 |
Notes
Geographically, all the Group's operations are located in Singapore; no geographical segment information is presented.
The Board of Directors assesses the performance of the operating segments based on gross profit. This measurement basis excludes other income, operating expenses and finance expenses from the operating segments.
Revenue from external parties reported to the Board of Directors is measured in a manner consistent with that in the consolidated statement of comprehensive income.
Revenue of approximately $112,890,000 (2024: $47,009,000) are derived from two (2024: four) external customers. This revenue is attributable to the mechanical engineering segment.
Reconciliation of gross profit to profit before income tax – Group 8 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Reconciliation | |||
| Gross profit for reportable segments$'000 | 14,229 | 9,900 | PDF p. 104 |
| Other income$'000 | 467 | 602 | PDF p. 104 |
| Selling and distribution expenses$'000 | (175) | (133) | PDF p. 104 |
| Allowance for expected credit losses$'000 | – | (14) | PDF p. 104 |
| Administrative expenses$'000 | (9,567) | (9,362) | PDF p. 104 |
| Other operating expenses$'000 | (462) | (367) | PDF p. 104 |
| Finance expenses$'000 | (644) | (568) | PDF p. 104 |
| Profit before income tax$'000 | 3,848 | 58 | PDF p. 104 |
Reconciliation of segment assets to total assets – Group 6 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Assets reconciliation | |||
| Segments' assets for reportable segments$'000 | 56,939 | 34,537 | PDF p. 104 |
| Unallocated | |||
| Cash and bank balances$'000 | 18,604 | 2,781 | PDF p. 104 |
| Other receivables and inventories$'000 | 863 | 1,987 | PDF p. 104 |
| Other financial assets$'000 | 14 | 14 | PDF p. 104 |
| Property, plant and equipment$'000 | 7,564 | 7,607 | PDF p. 104 |
| Assets reconciliation | |||
| Total assets (unlabelled total)$'000 | 83,984 | 46,926 | PDF p. 104 |
Notes
Segment assets comprise mainly trade receivables and contract assets.
The total row has no printed label.
Reconciliation of segment liabilities to total liabilities – Group 9 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Liabilities reconciliation | |||
| Segments' liabilities for reportable segments$'000 | 46,194 | 11,938 | PDF p. 105 |
| Unallocated | |||
| Other payables$'000 | 4,520 | 2,752 | PDF p. 105 |
| Lease liabilities$'000 | 972 | 1,103 | PDF p. 105 |
| Loan from a related party$'000 | 3,867 | 3,729 | PDF p. 105 |
| Loan from a director$'000 | 3,720 | 3,581 | PDF p. 105 |
| Bank borrowing$'000 | 1,080 | 4,000 | PDF p. 105 |
| Amount owing to a director$'000 | 138 | 178 | PDF p. 105 |
| Current income tax liabilities$'000 | 550 | – | PDF p. 105 |
| Liabilities reconciliation | |||
| Total liabilities (unlabelled total)$'000 | 61,041 | 27,281 | PDF p. 105 |
Notes
Segment liabilities comprise mainly trade and other payables.
The Group is headquartered and only has operations in Singapore. Accordingly, no geographical segment information is presented.
The total row has no printed label.
Debt
Borrowings
Liquidity risk – contractual maturity of borrowings and lease liabilities
| Item / unit | 2025Carrying amount, $'000 | 2025Contractual cashflow, $'000 | 2025Within 1 year, $'000 | 20251 to 5 years, $'000 | 2025More than 5 years, $'000 | 2024Carrying amount, $'000 | 2024Contractual cashflow, $'000 | 2024Within 1 year, $'000 | 20241 to 5 years, $'000 | 2024More than 5 years, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Financial liabilities – Group | |||||||||||
| Lease liabilities$'000 | 972 | 1,402 | 93 | 332 | 977 | 1,103 | 1,574 | 172 | 358 | 1,044 | PDF p. 98PDF p. 99 |
| Bank borrowing$'000 | 1,080 | 1,098 | 1,015 | 83 | – | 4,000 | 4,000 | 4,000 | – | – | PDF p. 98PDF p. 99 |
Notes
Company has no borrowings or lease liabilities listed; only trade and other payables 1,337.
Borrowing notes 2 tables
Note 18(a) Lease liabilities
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current | |||
| Lease liabilities (Current)$'000 | 57 | 131 | PDF p. 86 |
| Non-current | |||
| Lease liabilities (Non-current)$'000 | 915 | 972 | PDF p. 86 |
| Total | |||
| Total lease liabilities$'000 | 972 | 1,103 | PDF p. 86 |
Notes
Total row has no printed label; sum of current and non-current as printed.
Note 18(b) Bank borrowing
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current | |||
| Bank borrowing (Current)$'000 | 1,010 | 4,000 | PDF p. 87 |
| Non-current | |||
| Bank borrowing (Non-current)$'000 | 70 | – | PDF p. 87 |
| Total | |||
| Total bank borrowing$'000 | 1,080 | 4,000 | PDF p. 87 |
Notes
Bank borrowings comprised revolving credit facility of $1,000,000 (2024: $4,000,000) that was disbursed to finance the construction works for projects. The revolving credit facility bears interest of 2.98% per annum – 4.80% per annum (2024: 4.65% per annum – 5.65% per annum) and is repayable within the next 12 months.
Bank borrowings also comprised of $80,000 (2024: nil) to finance a purchase of motor vehicle during the financial year. The hire purchase facility for purchase of motor vehicle is repayable monthly over 6.5 years.
Including the revolving credit facility, the Group has banking facilities up to $30,570,000 (2024: $17,570,000). $11,834,000 (2024: $5,484,000) has been utilised by the Group as at reporting date (Note 16 and Note 18).
The banking facilities are secured by a first legal mortgage on the leasehold property of the subsidiary as disclosed in Note 15 to the financial statements, assignment of projects’ proceeds, corporate guarantees provided by the Company and charges on fixed deposits of a subsidiary placed with the banks.
Corporate guarantees issued by the Company to insurance companies on performance bonds: $18,290,000 (2024: $26,500,000).
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a fixed dividend policy at present. The form, frequency and amount of dividends declared or recommended in respect of any particular financial year or period will be subject to various factors including (a) the level of available cash; (b) the return on equity and retained earnings; (c) projected level of capital expenditure and other investment plans and other factors as the Directors may deem appropriate. | Company | PDF p. 32 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend FY2025 | No dividend has been declared or recommended in respect of FY2025 to conserve the Company’s cash resources for on going projects. | FY2025 | PDF p. 32 |
| Final dividend | – | Five-year summary, per share, 2025, 2024, 2023, 2022, 2021 all dash; no dividend in 2025 or comparative 2024 | PDF p. 10 |
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 |
|---|---|---|---|
| Audit firm | GRANT THORNTON AUDIT LLP | Group and Company, FY2025 | PDF p. 50 |
| Engagement partner | Tan Ee Choon | Group and Company, FY2025 | PDF p. 50 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company, FY2025 | PDF p. 46 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Recognition and measurement of contract revenue, contract costs and related provisions | As such, we determined this to be a key audit matter. | Group, FY2025 | PDF p. 47 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern assumption | the directors are of the view that it is appropriate to prepare the financial statements on a going concern basis | Company, FY2025 | PDF p. 55 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.