SDAI 5TI
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Financials
ANNUAL REPORT 2025
Explore the statements
10 tablesStatement of Financial Position - The Group
32 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 | |||
| Property, plant and equipment$ | 393,287 | 150,297 | PDF p. 73 |
| Intangible asset$ | 9,371 | - | PDF p. 73 |
| Investments in subsidiaries$ | - | - | PDF p. 73 |
| Investment in associate$ | - | - | PDF p. 73 |
| Deferred tax assets$ | - | - | PDF p. 73 |
| Total non-current assets$ | 402,658 | 150,297 | PDF p. 73 |
| Current assets | |||
| Inventories$ | 265,403 | 99,105 | PDF p. 73 |
| Trade receivables$ | 15,971 | 31,078 | PDF p. 73 |
| Other receivables$ | 321,529 | 241,128 | PDF p. 73 |
| Contract assets$ | 6,598 | 7,006 | PDF p. 73 |
| Cash and bank balances$ | 724,701 | 725,607 | PDF p. 73 |
| Total current assets$ | 1,334,202 | 1,103,924 | PDF p. 73 |
| Assets | |||
| Total assets$ | 1,736,860 | 1,254,221 | PDF p. 73 |
| Equity | |||
| Share capital$ | 58,948,250 | 58,948,250 | PDF p. 73 |
| Foreign currency translation reserves$ | 325,276 | 116,096 | PDF p. 73 |
| Accumulated losses$ | (68,692,210) | (65,499,663) | PDF p. 73 |
| Equity attributable to owners of the Company$ | (9,418,684) | (6,435,317) | PDF p. 73 |
| Non-controlling interests$ | (926,249) | (998,324) | PDF p. 73 |
| Total equity$ | (10,344,933) | (7,433,641) | PDF p. 73 |
| Non-current liabilities | |||
| Lease liabilities$ | 242,774 | 84,571 | PDF p. 73 |
| Borrowings$ | - | 6,956,790 | PDF p. 73 |
| Other payables$ | 9,405 | 9,987 | PDF p. 73 |
| Total non-current liabilities$ | 252,179 | 7,051,348 | PDF p. 73 |
| Current liabilities | |||
| Lease liabilities$ | 155,835 | 73,243 | PDF p. 73 |
| Borrowings$ | 9,662,945 | - | PDF p. 73 |
| Trade payables$ | 63,820 | - | PDF p. 73 |
| Other payables$ | 1,847,658 | 1,496,099 | PDF p. 73 |
| Contract liabilities$ | 99,356 | 67,172 | PDF p. 73 |
| Total current liabilities$ | 11,829,614 | 1,636,514 | PDF p. 73 |
| Net current liabilities$ | (10,495,412) | (532,590) | PDF p. 73 |
| Liabilities | |||
| Total liabilities$ | 12,081,793 | 8,687,862 | PDF p. 73 |
| Total liabilities and equity$ | 1,736,860 | 1,254,221 | PDF p. 73 |
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Definitions & sources
Original report: PDF p. 73 ↗
The accompanying notes form an integral part of these financial statements.
Auditor issued a disclaimer of opinion (going concern).
Statement of Financial Position - The Company
32 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 | |||
| Property, plant and equipment$ | 87,316 | 150,297 | PDF p. 73 |
| Intangible asset$ | - | - | PDF p. 73 |
| Investments in subsidiaries$ | 690,000 | - | PDF p. 73 |
| Investment in associate$ | - | - | PDF p. 73 |
| Deferred tax assets$ | - | - | PDF p. 73 |
| Total non-current assets$ | 777,316 | 150,297 | PDF p. 73 |
| Current assets | |||
| Inventories$ | - | - | PDF p. 73 |
| Trade receivables$ | - | - | PDF p. 73 |
| Other receivables$ | 186,427 | 218,378 | PDF p. 73 |
| Contract assets$ | - | - | PDF p. 73 |
| Cash and bank balances$ | 380,323 | 544,171 | PDF p. 73 |
| Total current assets$ | 566,750 | 762,549 | PDF p. 73 |
| Assets | |||
| Total assets$ | 1,344,066 | 912,846 | PDF p. 73 |
| Equity | |||
| Share capital$ | 58,948,250 | 58,948,250 | PDF p. 73 |
| Foreign currency translation reserves$ | - | - | PDF p. 73 |
| Accumulated losses$ | (68,506,585) | (66,189,301) | PDF p. 73 |
| Equity attributable to owners of the Company$ | (9,558,335) | (7,241,051) | PDF p. 73 |
| Non-controlling interests$ | - | - | PDF p. 73 |
| Total equity$ | (9,558,335) | (7,241,051) | PDF p. 73 |
| Non-current liabilities | |||
| Lease liabilities$ | 9,635 | 84,571 | PDF p. 73 |
| Borrowings$ | - | 6,956,790 | PDF p. 73 |
| Other payables$ | - | - | PDF p. 73 |
| Total non-current liabilities$ | 9,635 | 7,041,361 | PDF p. 73 |
| Current liabilities | |||
| Lease liabilities$ | 74,936 | 70,070 | PDF p. 73 |
| Borrowings$ | 9,662,945 | - | PDF p. 73 |
| Trade payables$ | - | - | PDF p. 73 |
| Other payables$ | 1,154,885 | 1,042,466 | PDF p. 73 |
| Contract liabilities$ | - | - | PDF p. 73 |
| Total current liabilities$ | 10,892,766 | 1,112,536 | PDF p. 73 |
| Net current liabilities$ | (10,326,016) | (349,987) | PDF p. 73 |
| Liabilities | |||
| Total liabilities$ | 10,902,401 | 8,153,897 | PDF p. 73 |
| Total liabilities and equity$ | 1,344,066 | 912,846 | PDF p. 73 |
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Definitions & sources
Original report: PDF p. 73 ↗
The accompanying notes form an integral part of these financial statements.
Auditor issued a disclaimer of opinion (going concern).
Consolidated Statement of Profit or Loss
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 December 2025 | 2024Group, year ended 31 December 2024 | Source |
|---|---|---|---|
| Continuing operations | |||
| Revenue$ | 435,834 | 520,771 | PDF p. 74 |
| Cost of sales$ | (196,667) | (290,155) | PDF p. 74 |
| Gross profit$ | 239,167 | 230,616 | PDF p. 74 |
| Other income$ | 65,145 | 1,310,309 | PDF p. 74 |
| Selling and distribution expenses$ | (96,246) | - | PDF p. 74 |
| Other operating expenses$ | (269,786) | (122,444) | PDF p. 74 |
| General and administrative expenses$ | (2,425,529) | (2,923,696) | PDF p. 74 |
| Loss from operations$ | (2,487,249) | (1,505,215) | PDF p. 74 |
| Finance costs$ | (689,702) | (108,372) | PDF p. 74 |
| Impairment loss on property, plant and equipment$ | - | (103,348) | PDF p. 74 |
| Loss before tax$ | (3,176,951) | (1,716,935) | PDF p. 74 |
| Tax expense$ | - | (1,391) | PDF p. 74 |
| Loss from continuing operations$ | (3,176,951) | (1,718,326) | PDF p. 74 |
| Profit from discontinued operations, net of tax$ | - | 3,998 | PDF p. 74 |
| Loss for the year$ | (3,176,951) | (1,714,328) | PDF p. 74 |
| Net loss attributable to: Owners of the Company | |||
| - Loss from continuing operations$ | (3,192,547) | (1,527,799) | PDF p. 74 |
| - Profit from discontinued operation$ | - | 3,998 | PDF p. 74 |
| Subtotal$ | (3,192,547) | (1,523,801) | PDF p. 74 |
| Net loss attributable to: Non-controlling interests | |||
| - Profit/(loss) from continuing operations$ | 15,596 | (190,527) | PDF p. 74 |
| - Loss from discontinued operation$ | - | - | PDF p. 74 |
| Subtotal$ | 15,596 | (190,527) | PDF p. 74 |
| Net loss attributable to: total | |||
| Loss for the year$ | (3,176,951) | (1,714,328) | PDF p. 74 |
| Loss per share: From continuing and discontinued operations | |||
| - BasicCents | (0.8) | (0.4) | PDF p. 74 |
| - DilutedCents | (0.8) | (0.4) | PDF p. 74 |
| Loss per share: From continuing operations | |||
| - BasicCents | (0.8) | (0.4) | PDF p. 74 |
| - DilutedCents | (0.8) | (0.4) | PDF p. 74 |
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Definitions & sources
Original report: PDF p. 74 ↗
The accompanying notes form an integral part of these financial statements.
Only consolidated (Group) income statement is presented; no separate Company income statement printed.
Consolidated Statement of Comprehensive Income
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 December 2025 | 2024Group, year ended 31 December 2024 | Source |
|---|---|---|---|
| Comprehensive income | |||
| Loss for the year$ | (3,176,951) | (1,714,328) | PDF p. 75 |
| Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences relating to foreign operations$ | 209,180 | (117,282) | PDF p. 75 |
| Subtotal$ | 209,180 | (117,282) | PDF p. 75 |
| Items that will not be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences relating to foreign operations$ | 56,479 | (29,868) | PDF p. 75 |
| Subtotal$ | 56,479 | (29,868) | PDF p. 75 |
| Comprehensive income | |||
| Other comprehensive income/(loss) for the year (nil tax)$ | 265,659 | (147,150) | PDF p. 75 |
| Total comprehensive loss for the year$ | (2,911,292) | (1,861,478) | PDF p. 75 |
| Total comprehensive (loss)/income attributable to | |||
| Owners of the Company$ | (2,983,367) | (1,641,083) | PDF p. 75 |
| Non-controlling interests$ | 72,075 | (220,395) | PDF p. 75 |
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Definitions & sources
Original report: PDF p. 75 ↗
The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Comprehensive Income (Group)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 December 2025, $ | 2024Group, year ended 31 December 2024, $ | Source |
|---|---|---|---|
| Profit | |||
| Loss for the year$ | (3,176,951) | (1,714,328) | PDF p. 75 |
| Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences relating to foreign operations$ | 209,180 | (117,282) | PDF p. 75 |
| Items that will not be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences relating to foreign operations$ | 56,479 | (29,868) | PDF p. 75 |
| Other comprehensive income | |||
| Other comprehensive income/(loss) for the year (nil tax)$ | 265,659 | (147,150) | PDF p. 75 |
| Total | |||
| Total comprehensive loss for the year$ | (2,911,292) | (1,861,478) | PDF p. 75 |
| Total comprehensive (loss)/income attributable to | |||
| Owners of the Company$ | (2,983,367) | (1,641,083) | PDF p. 75 |
| Non-controlling interests$ | 72,075 | (220,395) | PDF p. 75 |
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Definitions & sources
Original report: PDF p. 75 ↗
Items shown net of tax (nil tax). Note references 7 and 15 as printed.
Consolidated Statement of Changes in Equity (Group) - Year 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital, $ | 2025Group, Foreign currency translation reserves, $ | 2025Group, Accumulated losses, $ | 2025Group, Attributable to equity holders of the Company, $ | 2025Group, Non-controlling interests, $ | 2025Group, Total equity, $ | Source |
|---|---|---|---|---|---|---|---|
| Group 2025 | |||||||
| At 1 January 2025$ | 58,948,250 | 116,096 | (65,499,663) | (6,435,317) | (998,324) | (7,433,641) | PDF p. 76 |
| (Loss)/profit for the year$ | - | - | (3,192,547) | (3,192,547) | 15,596 | (3,176,951) | PDF p. 76 |
| Group 2025 - Other comprehensive income | |||||||
| Foreign currency translation differences relating to foreign operations$ | - | 209,180 | - | 209,180 | 56,479 | 265,659 | PDF p. 76 |
| Group 2025 | |||||||
| Total comprehensive income/ (loss) for the year$ | - | 209,180 | (3,192,547) | (2,983,367) | 72,075 | (2,911,292) | PDF p. 76 |
| At 31 December 2025$ | 58,948,250 | 325,276 | (68,692,210) | (9,418,684) | (926,249) | (10,344,933) | PDF p. 76 |
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Definitions & sources
Original report: PDF p. 76 ↗
Header: Attributable to owners of the Company (Share capital, Foreign currency translation reserves, Accumulated losses, Attributable to equity holders of the Company); Non-controlling interests; Total equity. Total comprehensive income row label wraps over two lines ('Total comprehensive income/ (loss) for the year'); quote is of the second-line values.
Consolidated Statement of Changes in Equity (Group) - Year 2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, Share capital, $ | 2024Group, Foreign currency translation reserves, $ | 2024Group, Accumulated losses, $ | 2024Group, Attributable to equity holders of the Company, $ | 2024Group, Non-controlling interests, $ | 2024Group, Total equity, $ | Source |
|---|---|---|---|---|---|---|---|
| Group 2024 | |||||||
| At 1 January 2024$ | 58,948,250 | 233,378 | (63,975,862) | (4,794,234) | (777,929) | (5,572,163) | PDF p. 76 |
| Loss for the year$ | - | - | (1,523,801) | (1,523,801) | (190,527) | (1,714,328) | PDF p. 76 |
| Group 2024 - Other comprehensive loss | |||||||
| Foreign currency translation differences relating to foreign operations$ | - | (117,282) | - | (117,282) | (29,868) | (147,150) | PDF p. 76 |
| Group 2024 | |||||||
| Total comprehensive loss for the year$ | - | (117,282) | (1,523,801) | (1,641,083) | (220,395) | (1,861,478) | PDF p. 76 |
| At 31 December 2024$ | 58,948,250 | 116,096 | (65,499,663) | (6,435,317) | (998,324) | (7,433,641) | PDF p. 76 |
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Definitions & sources
Original report: PDF p. 76 ↗
Row labels for OCI and total comprehensive loss wrap over lines; quotes use the value-bearing line. Total comprehensive loss label printed 'Total comprehensive loss for the' / 'year'.
Statement of Changes in Equity (Company)
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company, Share capital, $ | 2025Company, Accumulated losses, $ | 2025Company, Total equity, $ | Source |
|---|---|---|---|---|
| Company 2025 | ||||
| At 1 January 2025$ | 58,948,250 | (66,189,301) | (7,241,051) | PDF p. 77 |
| Loss and total comprehensive loss for the year$ | - | (2,317,284) | (2,317,284) | PDF p. 77 |
| At 31 December 2025$ | 58,948,250 | (68,506,585) | (9,558,335) | PDF p. 77 |
| Company 2024 | ||||
| At 1 January 2024$ | 58,948,250 | (66,454,477) | (7,506,227) | PDF p. 77 |
| Profit and total comprehensive income for the year$ | - | 265,176 | 265,176 | PDF p. 77 |
| At 31 December 2024$ | 58,948,250 | (66,189,301) | (7,241,051) | PDF p. 77 |
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Definitions & sources
Original report: PDF p. 77 ↗
Rows for 2025 and 2024 movements are in the same three columns; the first three rows are 2025 and the last three are 2024 (columns' year shown as 2025 for the table; 2024 rows are labelled in section).
Consolidated Statement of Cash Flows (Group)
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 December 2025, $ | 2024Group, year ended 31 December 2024, $ | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Loss before tax$ | (3,176,951) | (1,716,935) | PDF p. 78 |
| Operating - Adjustments for | |||
| Amortisation of intangible assets$ | 2,296 | - | PDF p. 78 |
| Deposit forfeited$ | - | (73,231) | PDF p. 78 |
| Depreciation of property, plant and equipment$ | 165,261 | 96,036 | PDF p. 78 |
| Fair value gain on loan$ | (61,457) | (126,611) | PDF p. 78 |
| Gain on derecognition of subsidiaries$ | - | (3,998) | PDF p. 78 |
| Gain on extinguishment of loans$ | - | (914,141) | PDF p. 78 |
| Gain on lease modification$ | - | (6,860) | PDF p. 78 |
| Impairment loss on contract assets$ | - | 25,594 | PDF p. 78 |
| Impairment loss on trade receivables$ | - | 19,270 | PDF p. 78 |
| (Reversal of impairment)/impairment loss on other receivables$ | (4,831) | 9,729 | PDF p. 78 |
| Impairment loss on property, plant and equipment$ | - | 103,348 | PDF p. 78 |
| Interest expense$ | 687,804 | 107,004 | PDF p. 78 |
| Interest income$ | - | (1) | PDF p. 78 |
| Unrealised foreign exchange differences, net$ | 267,119 | (153,998) | PDF p. 78 |
| Write-back of accruals$ | - | (162) | PDF p. 78 |
| Write-off of prepayments$ | - | 61,102 | PDF p. 78 |
| Cash flows from operating activities | |||
| Operating cash flows before working capital changes$ | (2,120,759) | (2,569,856) | PDF p. 78 |
| Changes in working capital | |||
| - Inventories$ | (171,217) | 57,645 | PDF p. 78 |
| - Trade and other receivables$ | (64,794) | 140,067 | PDF p. 78 |
| - Trade and other payables$ | 291,119 | (1,011,362) | PDF p. 78 |
| - Contract liabilities$ | 36,637 | (15,495) | PDF p. 78 |
| Cash flows from operating activities | |||
| Cash used in operations$ | (2,029,014) | (3,399,001) | PDF p. 78 |
| Income tax paid$ | - | (1,391) | PDF p. 78 |
| Net cash used in operating activities$ | (2,029,014) | (3,400,392) | PDF p. 78 |
| Cash flows from investing activities | |||
| Additions to intangible asset$ | (11,807) | - | PDF p. 78 |
| Additions to property, plant and equipment$ | - | (137,354) | PDF p. 78 |
| Derecognition of subsidiaries, net of cash disposed$ | - | (2) | PDF p. 78 |
| Interest received$ | - | 1 | PDF p. 78 |
| Net cash used in investing activities$ | (11,807) | (137,355) | PDF p. 78 |
| Cash flows from financing activities | |||
| Advance from a director$ | 124,916 | - | PDF p. 79 |
| Interest paid$ | (20,192) | (9,462) | PDF p. 79 |
| Principal payment of lease liabilities$ | (145,777) | (106,735) | PDF p. 79 |
| Proceeds from loan from a director$ | 1,100,000 | 2,900,000 | PDF p. 79 |
| Proceeds from loan from third parties$ | 1,000,000 | 1,000,000 | PDF p. 79 |
| Net cash generated from financing activities$ | 2,058,947 | 3,783,803 | PDF p. 79 |
| Net change in cash | |||
| Net increase in cash and cash equivalents$ | 18,126 | 246,056 | PDF p. 79 |
| Cash and cash equivalents at beginning of the financial year$ | 725,607 | 475,835 | PDF p. 79 |
| Effects of foreign exchange rate changes on cash and cash equivalents$ | (19,032) | 3,716 | PDF p. 79 |
| Cash and cash equivalents at end of the financial year$ | 724,701 | 725,607 | PDF p. 79 |
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Definitions & sources
Original report: PDF p. 78 ↗ PDF p. 79 ↗
Primary statement spans pages 78-79. Note numbers appear between label and values as printed. Only Group cash flow statement is presented (no separate Company cash flow). The liabilities-from-financing reconciliation on pages 79-80 was not extracted.
Group loss per share (face of consolidated statement of profit or loss)
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 December 2025 | 2024Group, year ended 31 December 2024 | Source |
|---|---|---|---|
| Loss per share: From continuing and discontinued operations | |||
| - BasicCents | (0.8) | (0.4) | PDF p. 74 |
| - DilutedCents | (0.8) | (0.4) | PDF p. 74 |
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Definitions & sources
Original report: PDF p. 74 ↗
Column headers: Year ended 31 December 2025 / 2024; Note; Cents. The same basic and diluted figures (0.8)/(0.4) are also printed for 'From continuing operations'.
Where the money comes from
Segment information
By business
Segment information by business segment 16 lines
| Item / unit | 2025Residential Projects | 2024Residential Projects | 2025Distribution and Retail | 2024Distribution and Retail | 2025Healthcare | 2024Healthcare | 2025Others | 2024Others | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment results | |||||||||||
| Segment revenue$ | - | 46,151 | 434,624 | 474,620 | 1,210 | - | - | - | 435,834 | 520,771 | PDF p. 131 |
| Interest income$ | - | - | - | 1 | - | - | - | - | - | 1 | PDF p. 131 |
| Finance costs$ | - | (1,338) | (5,142) | (11,301) | (10,800) | - | (673,760) | (95,733) | (689,702) | (108,372) | PDF p. 131 |
| Segment (losses)/profits$ | - | (1,769) | 16,822 | (32,434) | (569,903) | - | (2,000,456) | (2,396,070) | (2,553,537) | (2,430,273) | PDF p. 131 |
| Assets | |||||||||||
| Segment assets$ | - | 38,957 | 333,661 | 374,628 | 768,868 | - | 634,331 | 840,636 | 1,736,860 | 1,254,221 | PDF p. 131 |
| Liabilities | |||||||||||
| Segment liabilities$ | - | 122,416 | 466,649 | 1,133,866 | 707,546 | - | 10,907,598 | 7,431,580 | 12,081,793 | 8,687,862 | PDF p. 131 |
| Capital expenditure | |||||||||||
| Capital expenditure - property, plant and equipment$ | - | (3,497) | (73,524) | (27,974) | (311,334) | - | (21,586) | (318,210) | (406,444) | (349,681) | PDF p. 131 |
| Capital expenditure - intangible asset$ | - | - | (11,807) | - | - | - | - | - | (11,807) | - | PDF p. 131 |
| Other material non-cash income/(expenses) | |||||||||||
| Depreciation of property, plant and equipment$ | - | (960) | (35,291) | (7,683) | (45,403) | - | (84,567) | (87,393) | (165,261) | (96,036) | PDF p. 131 |
| Fair value gain on loan$ | - | 1,266 | - | 10,129 | - | - | 61,457 | 115,216 | 61,457 | 126,611 | PDF p. 131 |
| Gain on extinguishment of loan$ | - | 9,142 | - | 73,131 | - | - | - | 831,868 | - | 914,141 | PDF p. 131 |
| Impairment loss on contract assets$ | - | (2,303) | - | (23,291) | - | - | - | - | - | (25,594) | PDF p. 131 |
| Impairment loss on trade receivables$ | - | (1,734) | - | (17,536) | - | - | - | - | - | (19,270) | PDF p. 131 |
| Reversal of impairment/(impairment loss) on other receivables$ | - | (476) | 4,831 | (4,703) | - | - | - | (4,550) | 4,831 | (9,729) | PDF p. 131 |
| Impairment loss on property, plant and equipment$ | - | (1,033) | - | (8,268) | - | - | - | (94,047) | - | (103,348) | PDF p. 131 |
| Write-off of prepayments$ | - | (5,499) | - | (55,603) | - | - | - | - | - | (61,102) | PDF p. 131 |
Notes
Reportable segments: residential projects, healthcare, distribution and retail, and others. Figures in $ as printed in column header.
Reconciliation of reportable segment revenue and profit or loss before tax 16 lines
| Item / unit | 202531 December 2025 | 202431 December 2024 | Source |
|---|---|---|---|
| Revenue | |||
| Total revenue for reportable segments$ | 435,834 | 520,771 | PDF p. 132 |
| Exclude discontinued operations$ | - | - | PDF p. 132 |
| Consolidated revenue$ | 435,834 | 520,771 | PDF p. 132 |
| Profit or loss before tax | |||
| Segment losses$ | (2,553,537) | (2,430,273) | PDF p. 132 |
| Interest income$ | - | 1 | PDF p. 132 |
| Finance costs$ | (689,702) | (108,372) | PDF p. 132 |
| Fair value gain on loan$ | 61,457 | 126,611 | PDF p. 132 |
| Gain on extinguishment of loan$ | - | 914,141 | PDF p. 132 |
| Impairment loss on contract assets$ | - | (25,594) | PDF p. 132 |
| Impairment loss on trade receivables$ | - | (19,270) | PDF p. 132 |
| Reversal of impairment/(impairment loss) on other receivables$ | 4,831 | (9,729) | PDF p. 132 |
| Impairment loss on property, plant and equipment$ | - | (103,348) | PDF p. 132 |
| Write-off of prepayments$ | - | (61,102) | PDF p. 132 |
| Consolidated loss before tax from continuing operations$ | (3,176,951) | (1,716,935) | PDF p. 132 |
| Assets | |||
| Total assets for reportable segments/consolidated total assets$ | 1,736,860 | 1,254,221 | PDF p. 132 |
| Liabilities | |||
| Total liabilities for reportable segments/consolidated total liabilities$ | 12,081,793 | 8,687,862 | PDF p. 132 |
Notes
Reconciliation of reportable segment revenue, profit or loss before tax, assets and liabilities. Columns are 31 December 2025 and 31 December 2024; $.
Major customers - revenue contribution 4 lines
| Item / unit | 202531 December 2025 | 202431 December 2024 | Source |
|---|---|---|---|
| Major customers | |||
| Customer 1$ | 86,429 | - | PDF p. 133 |
| Customer 2$ | 66,286 | - | PDF p. 133 |
| Customer 3$ | 64,369 | - | PDF p. 133 |
| Customer 4$ | - | 46,151 | PDF p. 133 |
Notes
Revenue of approximately $217,084 (2024 - $46,151) is derived from 3 major external customers (2024 - 1 major external customer) who individually contributed 10 percent or more of the Group's revenue, and is attributable to the distribution and retail segment (2024 - residential project segment).
By geography
Geographical information: revenue and non-current assets 7 lines
| Item / unit | 202531 December 2025 | 202431 December 2024 | Source |
|---|---|---|---|
| Revenue | |||
| Singapore$ | 1,210 | - | PDF p. 133 |
| Hong Kong$ | 434,624 | 520,771 | PDF p. 133 |
| Total revenue (unlabelled subtotal)$ | 435,834 | 520,771 | PDF p. 133 |
| Non-current assets | |||
| Singapore$ | 87,316 | 150,297 | PDF p. 133 |
| Hong Kong$ | 47,037 | - | PDF p. 133 |
| China$ | 268,305 | - | PDF p. 133 |
| Total non-current assets (unlabelled subtotal)$ | 402,658 | 150,297 | PDF p. 133 |
Notes
Revenue and non-current assets information based on the geographical location of customers and assets respectively.
Non-current assets information presented above are non-current assets (excluding financial assets and deferred tax assets) as presented on the consolidated statement of financial position.
Totals are printed without a row label.
Debt
Borrowings
Lease liabilities maturity analysis
| Item / unit | 2025The Group, 31 December 2025 | 2024The Group, 31 December 2024 | 2025The Company, 31 December 2025 | 2024The Company, 31 December 2024 | Source |
|---|---|---|---|---|---|
| Maturity analysis | |||||
| Year 1$ | 201,585 | 75,600 | 77,212 | 75,600 | PDF p. 114 |
| Year 2$ | 104,065 | 90,078 | 9,677 | 86,889 | PDF p. 114 |
| Year 3$ | 91,302 | - | - | - | PDF p. 114 |
| Year 4$ | 38,042 | - | - | - | PDF p. 114 |
| Less: Future interest charges$ | (36,385) | (7,864) | (2,318) | (7,848) | PDF p. 114 |
| Analysed as | |||||
| Current$ | 155,835 | 73,243 | 74,936 | 70,070 | PDF p. 114 |
| Non-current$ | 242,774 | 84,571 | 9,635 | 84,571 | PDF p. 114 |
Notes
Undiscounted total 434,994 / 165,678 / 86,889 / 162,489 and present value 398,609 / 157,814 / 84,571 / 154,641 are printed as unlabelled subtotal lines.
Borrowing notes 1 tables
Borrowings and The Company
| Item / unit | 202531 December 2025 | 202431 December 2024 | Source |
|---|---|---|---|
| Current - Unsecured loans | |||
| Loan from a third party$ | 3,820,933 | - | PDF p. 114 |
| Loan from a director$ | 3,849,592 | - | PDF p. 114 |
| Current - Unsecured loans (iii) | |||
| Loan from third parties$ | 960,201 | - | PDF p. 114 |
| Current - Unsecured loans (iv) | |||
| Loan from third parties$ | 1,032,219 | - | PDF p. 114 |
| Non-current - Unsecured loans | |||
| Loan from a third party$ | - | 3,486,489 | PDF p. 114 |
| Loan from a director$ | - | 2,585,008 | PDF p. 114 |
| Non-current - Unsecured loans (iii) | |||
| Loan from third parties$ | - | 885,293 | PDF p. 114 |
Notes
Current subtotal unsecured loans: 9,662,945 (2025), - (2024); non-current subtotal: - (2025), 6,956,790 (2024) (subtotal lines printed without labels).
Loans (i), (ii) and (iii) are unsecured and interest-free. Loan (iv) is unsecured and has an interest rate of 8% per annum.
All loans mature on 30 June 2026 (page 115). Loans contain an equity conversion option (page 116). Currency: $ as printed.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Provision 11.6 | 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. 59 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| No dividend FY2025 | No dividend was paid or proposed for FY2025 as the Group was making a loss in FY2025 and had accumulated losses as at 31 December 2025. | Group, FY2025 | PDF p. 59 |
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 | Foo Kon Tan LLP | Group and Company, FY2025 | PDF p. 72 |
| Engagement partner | Ho Teik Tiong | Group and Company, FY2025 | PDF p. 72 |
| Disclaimer of Opinion | Disclaimer of Opinion | Group and Company, FY2025 | PDF p. 71 |
| Basis for Disclaimer of Opinion - Use of going concern assumption | We were unable to obtain sufficient appropriate evidence that the use of going concern assumption in preparation of the financial statements is appropriate, particularly in respect of the ability of the Group and the Company to obtain sufficient new loan financing and to successfully complete the corporate turnaround plans and restructuring. | Group and Company, FY2025 | PDF p. 71 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | The above matters represent material uncertainties that may cast a significant doubt on the ability of the Group and the Company to continue as a going concern | Group and Company, FY2025 · As at 2025-12-31 | PDF p. 81 |
| Use of going concern assumption | These conditions together with other material uncertainties indicate the existence of multiple uncertainties that may cast significant doubt on the ability of the Group and of the Company to continue as a going concern. | Group and Company, FY2025 | PDF p. 71 |
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.