ANNUAL REPORT 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Group comprehensive income | |||
| RevenueSingapore dollars thousands | 152,388 | 150,277 | PDF p. 123 |
| Cost of salesSingapore dollars thousands | (38,002) | (36,108) | PDF p. 123 |
| Gross profitSingapore dollars thousands | 114,386 | 114,169 | PDF p. 123 |
| Administrative expensesSingapore dollars thousands | (35,039) | (29,469) | PDF p. 123 |
| Other expenses, netSingapore dollars thousands | (16,702) | (10,565) | PDF p. 123 |
| Results from operating activitiesSingapore dollars thousands | 62,645 | 74,135 | PDF p. 123 |
| Finance incomeSingapore dollars thousands | 538 | 684 | PDF p. 123 |
| Finance costsSingapore dollars thousands | (33,581) | (35,508) | PDF p. 123 |
| Net finance costsSingapore dollars thousands | (33,043) | (34,824) | PDF p. 123 |
| Share of results of equity-accounted investees (net of tax)Singapore dollars thousands | (6,152) | 1,283 | PDF p. 123 |
| Profit before taxSingapore dollars thousands | 23,450 | 40,594 | PDF p. 123 |
| Tax expenseSingapore dollars thousands | (14,876) | (14,944) | PDF p. 123 |
| Profit after tax for the yearSingapore dollars thousands | 8,574 | 25,650 | PDF p. 123 |
| Items that are or may be reclassified subsequently to profit or loss | |||
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | (60,754) | (15,720) | PDF p. 123 |
| Currency translation differences reclassified to profit or lossSingapore dollars thousands | 5,193 | 2,446 | PDF p. 123 |
| Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands | (1,995) | 944 | PDF p. 123 |
| Items that will not be reclassified to profit or loss | |||
| Share of fair value reserve of equity-accounted investeesSingapore dollars thousands | 1,818 | (815) | PDF p. 123 |
| Net change in fair value - equity investment at FVOCISingapore dollars thousands | (116) | 50 | PDF p. 123 |
| Other comprehensive income, net of taxSingapore dollars thousands | (55,854) | (13,095) | PDF p. 123 |
| Total comprehensive income for the yearSingapore dollars thousands | (47,280) | 12,555 | PDF p. 123 |
| Profit after tax attributable to | |||
| Owners of the CompanySingapore dollars thousands | (16,873) | (6,003) | PDF p. 123 |
| Non-controlling interestsSingapore dollars thousands | 25,447 | 31,653 | PDF p. 123 |
| SubtotalSingapore dollars thousands | 8,574 | 25,650 | PDF p. 123 |
| Total comprehensive income attributable to | |||
| Owners of the CompanySingapore dollars thousands | (34,483) | (7,371) | PDF p. 123 |
| Non-controlling interestsSingapore dollars thousands | (12,797) | 19,926 | PDF p. 123 |
| SubtotalSingapore dollars thousands | (47,280) | 12,555 | PDF p. 123 |
| Earnings per share | |||
| Basic earnings per share (cents)Singapore cents per share | (0.38) | (0.14) | PDF p. 123 |
| Diluted earnings per share (cents)Singapore cents per share | (0.24) | (0.08) | PDF p. 123 |
Original report: PDF p. 123 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| ASSETS | |||
| Property, plant and equipmentSingapore dollars thousands | 8,808 | 8,191 | PDF p. 121 |
| Intangible assets and goodwillSingapore dollars thousands | 30,659 | 30,793 | PDF p. 121 |
| Investment propertiesSingapore dollars thousands | 1,022,619 | 1,118,008 | PDF p. 121 |
| Investment properties under developmentSingapore dollars thousands | 5,493 | 10,927 | PDF p. 121 |
| SubsidiariesSingapore dollars thousands | – | – | PDF p. 121 |
| Associate and joint venturesSingapore dollars thousands | 131,945 | 133,156 | PDF p. 121 |
| Other investmentSingapore dollars thousands | 2,581 | 2,697 | PDF p. 121 |
| Trade and other receivablesSingapore dollars thousands | 2,979 | 3,109 | PDF p. 121 |
| Non-current assetsSingapore dollars thousands | 1,205,084 | 1,306,881 | PDF p. 121 |
| InventoriesSingapore dollars thousands | 1,072 | 880 | PDF p. 121 |
| Trade and other receivablesSingapore dollars thousands | 28,488 | 20,585 | PDF p. 121 |
| Derivative financial instrumentsSingapore dollars thousands | – | 260 | PDF p. 121 |
| Cash and cash equivalentsSingapore dollars thousands | 83,943 | 69,911 | PDF p. 121 |
| Current assetsSingapore dollars thousands | 113,503 | 91,636 | PDF p. 121 |
| Total assetsSingapore dollars thousands | 1,318,587 | 1,398,517 | PDF p. 121 |
| EQUITY | |||
| Share capitalSingapore dollars thousands | 418,913 | 418,913 | PDF p. 121 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | 79,635 | PDF p. 121 |
| Capital reserveSingapore dollars thousands | 4,285 | 4,285 | PDF p. 121 |
| Asset revaluation reserveSingapore dollars thousands | 3,630 | 3,630 | PDF p. 121 |
| Foreign currency translation reserveSingapore dollars thousands | (70,267) | (50,955) | PDF p. 121 |
| Fair value reserveSingapore dollars thousands | (24,766) | (26,468) | PDF p. 121 |
| Accumulated lossesSingapore dollars thousands | (164,281) | (145,656) | PDF p. 121 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 247,149 | 283,384 | PDF p. 121 |
| Non-controlling interestsSingapore dollars thousands | 406,784 | 451,098 | PDF p. 121 |
| Total equitySingapore dollars thousands | 653,933 | 734,482 | PDF p. 121 |
Original report: PDF p. 121 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year1January–31December2025 | 2024Company / year1January–31December2024 | Source |
|---|---|---|---|
| ASSETS | |||
| Property, plant and equipmentSingapore dollars thousands | 14 | 385 | PDF p. 121 |
| Intangible assets and goodwillSingapore dollars thousands | – | – | PDF p. 121 |
| Investment propertiesSingapore dollars thousands | – | – | PDF p. 121 |
| Investment properties under developmentSingapore dollars thousands | – | – | PDF p. 121 |
| SubsidiariesSingapore dollars thousands | * | * | PDF p. 121 |
| Associate and joint venturesSingapore dollars thousands | 23,607 | 23,607 | PDF p. 121 |
| Other investmentSingapore dollars thousands | – | – | PDF p. 121 |
| Trade and other receivablesSingapore dollars thousands | 291,355 | 261,109 | PDF p. 121 |
| Non-current assetsSingapore dollars thousands | 314,976 | 285,101 | PDF p. 121 |
| InventoriesSingapore dollars thousands | – | – | PDF p. 121 |
| Trade and other receivablesSingapore dollars thousands | 15,223 | 18,477 | PDF p. 121 |
| Derivative financial instrumentsSingapore dollars thousands | – | – | PDF p. 121 |
| Cash and cash equivalentsSingapore dollars thousands | 7,110 | 17,654 | PDF p. 121 |
| Current assetsSingapore dollars thousands | 22,333 | 36,131 | PDF p. 121 |
| Total assetsSingapore dollars thousands | 337,309 | 321,232 | PDF p. 121 |
| EQUITY | |||
| Share capitalSingapore dollars thousands | 418,913 | 418,913 | PDF p. 121 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | 79,635 | PDF p. 121 |
| Capital reserveSingapore dollars thousands | – | – | PDF p. 121 |
| Asset revaluation reserveSingapore dollars thousands | – | – | PDF p. 121 |
| Foreign currency translation reserveSingapore dollars thousands | – | – | PDF p. 121 |
| Fair value reserveSingapore dollars thousands | – | – | PDF p. 121 |
| Accumulated lossesSingapore dollars thousands | (267,002) | (226,627) | PDF p. 121 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 231,546 | 271,921 | PDF p. 121 |
| Non-controlling interestsSingapore dollars thousands | – | – | PDF p. 121 |
| Total equitySingapore dollars thousands | 231,546 | 271,921 | PDF p. 121 |
Original report: PDF p. 121 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| LIABILITIES | |||
| Loans and borrowingsSingapore dollars thousands | 276,444 | 467,553 | PDF p. 122 |
| Trade and other payablesSingapore dollars thousands | 19,301 | 19,797 | PDF p. 122 |
| Lease liabilitiesSingapore dollars thousands | 1,896 | 1,699 | PDF p. 122 |
| Deferred tax liabilitiesSingapore dollars thousands | 47,041 | 49,883 | PDF p. 122 |
| Non-current liabilitiesSingapore dollars thousands | 344,682 | 538,932 | PDF p. 122 |
| Loans and borrowingsSingapore dollars thousands | 260,681 | 67,735 | PDF p. 122 |
| Trade and other payablesSingapore dollars thousands | 34,520 | 32,308 | PDF p. 122 |
| ProvisionsSingapore dollars thousands | 19,974 | 20,141 | PDF p. 122 |
| Lease liabilitiesSingapore dollars thousands | 2,115 | 1,437 | PDF p. 122 |
| Current tax liabilitiesSingapore dollars thousands | 2,682 | 3,290 | PDF p. 122 |
| Derivative financial instrumentsSingapore dollars thousands | – | 192 | PDF p. 122 |
| Current liabilitiesSingapore dollars thousands | 319,972 | 125,103 | PDF p. 122 |
| Total liabilitiesSingapore dollars thousands | 664,654 | 664,035 | PDF p. 122 |
| Total equity and liabilitiesSingapore dollars thousands | 1,318,587 | 1,398,517 | PDF p. 122 |
Original report: PDF p. 122 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year1January–31December2025 | 2024Company / year1January–31December2024 | Source |
|---|---|---|---|
| LIABILITIES | |||
| Loans and borrowingsSingapore dollars thousands | 82,277 | 14,951 | PDF p. 122 |
| Trade and other payablesSingapore dollars thousands | – | – | PDF p. 122 |
| Lease liabilitiesSingapore dollars thousands | – | – | PDF p. 122 |
| Deferred tax liabilitiesSingapore dollars thousands | – | – | PDF p. 122 |
| Non-current liabilitiesSingapore dollars thousands | 82,277 | 14,951 | PDF p. 122 |
| Loans and borrowingsSingapore dollars thousands | – | 10,000 | PDF p. 122 |
| Trade and other payablesSingapore dollars thousands | 3,512 | 3,927 | PDF p. 122 |
| ProvisionsSingapore dollars thousands | 19,974 | 20,141 | PDF p. 122 |
| Lease liabilitiesSingapore dollars thousands | – | 292 | PDF p. 122 |
| Current tax liabilitiesSingapore dollars thousands | – | – | PDF p. 122 |
| Derivative financial instrumentsSingapore dollars thousands | – | – | PDF p. 122 |
| Current liabilitiesSingapore dollars thousands | 23,486 | 34,360 | PDF p. 122 |
| Total liabilitiesSingapore dollars thousands | 105,763 | 49,311 | PDF p. 122 |
| Total equity and liabilitiesSingapore dollars thousands | 337,309 | 321,232 | PDF p. 122 |
Original report: PDF p. 122 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Share capital | 2025Group / Convertible perpetual securities | 2025Group / Capital reserve | 2025Group / Asset revaluation reserve | 2025Group / Foreign currency translation reserve | 2025Group / Fair value reserve | 2025Group / Accumulated losses | 2025Group / Total attributable to owners of the Company | 2025Group / Non-controlling interests | 2025Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | |||||||||||
| At 1 January 2025Singapore dollars thousands | 418,913 | 79,635 | 4,285 | 3,630 | (50,955) | (26,468) | (145,656) | 283,384 | 451,098 | 734,482 | PDF p. 124 |
| (Loss)/profit for the yearSingapore dollars thousands | – | – | – | – | – | – | (16,873) | (16,873) | 25,447 | 8,574 | PDF p. 124 |
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | – | – | – | – | (22,510) | – | – | (22,510) | (38,244) | (60,754) | PDF p. 124 |
| Currency translation differences reclassified to profit or lossSingapore dollars thousands | – | – | – | – | 5,193 | – | – | 5,193 | – | 5,193 | PDF p. 124 |
| Share of foreign currency translation differences of equity - accounted investeesSingapore dollars thousands | – | – | – | – | (1,995) | – | – | (1,995) | – | (1,995) | PDF p. 124 |
| Share of fair value reserve of equity - accounted investeesSingapore dollars thousands | – | – | – | – | – | 1,818 | – | 1,818 | – | 1,818 | PDF p. 124 |
| Net change in fair value – equity investment at FVOCISingapore dollars thousands | – | – | – | – | – | (116) | – | (116) | – | (116) | PDF p. 124 |
| Total other comprehensive income, net of taxSingapore dollars thousands | – | – | – | – | (19,312) | 1,702 | – | (17,610) | (38,244) | (55,854) | PDF p. 124 |
| Total comprehensive income for the yearSingapore dollars thousands | – | – | – | – | (19,312) | 1,702 | (16,873) | (34,483) | (12,797) | (47,280) | PDF p. 124 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | – | – | – | – | – | – | – | – | (1,656) | (1,656) | PDF p. 124 |
| Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands | – | – | – | – | – | – | – | – | (31,613) | (31,613) | PDF p. 124 |
| Total distributions to ownersSingapore dollars thousands | – | – | – | – | – | – | – | – | (33,269) | (33,269) | PDF p. 124 |
| Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands | – | – | – | – | – | – | (1,752) | (1,752) | 1,752 | – | PDF p. 124 |
| Total changes in ownership interests in subsidiariesSingapore dollars thousands | – | – | – | – | – | – | (1,752) | (1,752) | 1,752 | – | PDF p. 124 |
| Total transactions with ownersSingapore dollars thousands | – | – | – | – | – | – | (1,752) | (1,752) | (31,517) | (33,269) | PDF p. 124 |
| At 31 December 2025Singapore dollars thousands | 418,913 | 79,635 | 4,285 | 3,630 | (70,267) | (24,766) | (164,281) | 247,149 | 406,784 | 653,933 | PDF p. 124 |
Original report: PDF p. 124 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Share capital | 2024Group / Convertible perpetual securities | 2024Group / Capital reserve | 2024Group / Asset revaluation reserve | 2024Group / Foreign currency translation reserve | 2024Group / Fair value reserve | 2024Group / Accumulated losses | 2024Group / Total attributable to owners of the Company | 2024Group / Non-controlling interests | 2024Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | |||||||||||
| At 1 January 2024Singapore dollars thousands | 418,913 | 79,635 | 4,285 | 3,630 | (50,445) | (25,703) | (136,119) | 294,196 | 461,816 | 756,012 | PDF p. 125 |
| (Loss)/profit for the yearSingapore dollars thousands | – | – | – | – | – | – | (6,003) | (6,003) | 31,653 | 25,650 | PDF p. 125 |
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | – | – | – | – | (3,993) | – | – | (3,993) | (11,727) | (15,720) | PDF p. 125 |
| Currency translation differences reclassified to profit or lossSingapore dollars thousands | – | – | – | – | 2,446 | – | – | 2,446 | – | 2,446 | PDF p. 125 |
| Share of foreign currency translation differences of equity – accounted investeesSingapore dollars thousands | – | – | – | – | 944 | – | – | 944 | – | 944 | PDF p. 125 |
| Share of fair value reserve of equity- accounted investeesSingapore dollars thousands | – | – | – | – | – | (815) | – | (815) | – | (815) | PDF p. 125 |
| Net change in fair value – equity investment at FVOCISingapore dollars thousands | – | – | – | – | – | 50 | – | 50 | – | 50 | PDF p. 125 |
| Total other comprehensive income, net of taxSingapore dollars thousands | – | – | – | – | (603) | (765) | – | (1,368) | (11,727) | (13,095) | PDF p. 125 |
| Total comprehensive income for the yearSingapore dollars thousands | – | – | – | – | (603) | (765) | (6,003) | (7,371) | 19,926 | 12,555 | PDF p. 125 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | – | – | – | – | – | – | – | – | (1,661) | (1,661) | PDF p. 125 |
| Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands | – | – | – | – | – | – | – | – | (32,345) | (32,345) | PDF p. 125 |
| Total distributions to ownersSingapore dollars thousands | – | – | – | – | – | – | – | – | (34,006) | (34,006) | PDF p. 125 |
| Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands | – | – | – | – | 93 | – | (3,534) | (3,441) | 3,162 | (279) | PDF p. 125 |
| Acquisition of a subsidiary with non- controlling interestsSingapore dollars thousands | – | – | – | – | – | – | – | – | 200 | 200 | PDF p. 125 |
| Total changes in ownership interests in subsidiariesSingapore dollars thousands | – | – | – | – | 93 | – | (3,534) | (3,441) | 3,362 | (79) | PDF p. 125 |
| Total transactions with ownersSingapore dollars thousands | – | – | – | – | 93 | – | (3,534) | (3,441) | (30,644) | (34,085) | PDF p. 125 |
| At 31 December 2024Singapore dollars thousands | 418,913 | 79,635 | 4,285 | 3,630 | (50,955) | (26,468) | (145,656) | 283,384 | 451,098 | 734,482 | PDF p. 125 |
Original report: PDF p. 125 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit after taxSingapore dollars thousands | 8,574 | 25,650 | PDF p. 126 |
| Adjustments for: | |||
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,948 | 2,268 | PDF p. 126 |
| Net fair value losses on investment propertiesSingapore dollars thousands | 3,528 | 9,578 | PDF p. 126 |
| Fair value losses on investment properties under developmentSingapore dollars thousands | 5,266 | 928 | PDF p. 126 |
| Net fair value gains of derivative financial instrumentsSingapore dollars thousands | (473) | (440) | PDF p. 126 |
| Impairment losses on property, plant and equipmentSingapore dollars thousands | 1,090 | – | PDF p. 126 |
| Property, plant and equipment written offSingapore dollars thousands | 8 | – | PDF p. 126 |
| Adjustment on rental straight-liningSingapore dollars thousands | (7,446) | (10,227) | PDF p. 126 |
| Interest incomeSingapore dollars thousands | (538) | (684) | PDF p. 126 |
| Interest expenseSingapore dollars thousands | 24,017 | 28,418 | PDF p. 126 |
| Loss/(gain) on disposal of a subsidiarySingapore dollars thousands | 7,535 | (46) | PDF p. 126 |
| Loss on disposal of quoted sharesSingapore dollars thousands | 1 | 6 | PDF p. 126 |
| Loss on classification as held for saleSingapore dollars thousands | – | 2,185 | PDF p. 126 |
| Loss on disposal of asset held for saleSingapore dollars thousands | – | 242 | PDF p. 126 |
| Share of results of equity-accounted investees, net of taxSingapore dollars thousands | 6,152 | (1,283) | PDF p. 126 |
| Manager’s management fees settled in unitsSingapore dollars thousands | 4,180 | 4,291 | PDF p. 126 |
| Impairment loss on trade and other receivablesSingapore dollars thousands | 491 | – | PDF p. 126 |
| Trade and other receivables written offSingapore dollars thousands | – | 260 | PDF p. 126 |
| Trade and other payable written backSingapore dollars thousands | – | (22) | PDF p. 126 |
| Tax expenseSingapore dollars thousands | 14,876 | 14,944 | PDF p. 126 |
| SubtotalSingapore dollars thousands | 70,209 | 76,068 | PDF p. 126 |
| Changes in: | |||
| - InventoriesSingapore dollars thousands | (192) | (140) | PDF p. 126 |
| - Trade and other receivablesSingapore dollars thousands | (1,753) | 5,012 | PDF p. 126 |
| - Trade and other payablesSingapore dollars thousands | 3,222 | (6,200) | PDF p. 126 |
| Cash generated from operationsSingapore dollars thousands | 71,486 | 74,740 | PDF p. 126 |
| Tax paidSingapore dollars thousands | (15,079) | (14,026) | PDF p. 126 |
| Net cash from operating activitiesSingapore dollars thousands | 56,407 | 60,714 | PDF p. 126 |
Original report: PDF p. 126 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Cash flows from investing activities | |||
| Acquisition of equity-accounted investeesSingapore dollars thousands | – | (859) | PDF p. 127 |
| Acquisition of a subsidiary, net of cash acquiredSingapore dollars thousands | – | (264) | PDF p. 127 |
| Capital expenditures to investment propertiesSingapore dollars thousands | (3,746) | (5,859) | PDF p. 127 |
| Capital contribution in equity-accounted investeesSingapore dollars thousands | (5,118) | – | PDF p. 127 |
| Loan to a joint ventureSingapore dollars thousands | (3,516) | – | PDF p. 127 |
| Contingent consideration paidSingapore dollars thousands | – | (9,319) | PDF p. 127 |
| Investment in quoted sharesSingapore dollars thousands | (226) | (441) | PDF p. 127 |
| Proceeds from disposals of quoted sharesSingapore dollars thousands | 225 | 435 | PDF p. 127 |
| Net cash inflow/(outflow) from disposal of a subsidiarySingapore dollars thousands | 22,440 | (82) | PDF p. 127 |
| Net cash inflow from disposal of asset held for saleSingapore dollars thousands | – | 34,857 | PDF p. 127 |
| Interest receivedSingapore dollars thousands | 579 | 813 | PDF p. 127 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (1,605) | (605) | PDF p. 127 |
| Net cash from investing activitiesSingapore dollars thousands | 9,033 | 18,676 | PDF p. 127 |
| Cash flows from financing activities | |||
| Proceeds from borrowingsSingapore dollars thousands | 73,500 | 32,000 | PDF p. 127 |
| Repayment of borrowingsSingapore dollars thousands | (67,990) | (42,885) | PDF p. 127 |
| Payment of lease liabilitiesSingapore dollars thousands | (2,442) | (1,907) | PDF p. 127 |
| Proceeds from settlement of derivative financial instrumentsSingapore dollars thousands | 541 | 646 | PDF p. 127 |
| (Repayment of loan)/loan from a fellow subsidiarySingapore dollars thousands | (200) | 3,728 | PDF p. 127 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | (1,656) | (1,661) | PDF p. 127 |
| Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands | (31,613) | (32,345) | PDF p. 127 |
| Payment of transaction costs related to loans and borrowingsSingapore dollars thousands | (1,831) | (1,669) | PDF p. 127 |
| Acquisition of a non-controlling interestsSingapore dollars thousands | – | (279) | PDF p. 127 |
| Interest paidSingapore dollars thousands | (18,245) | (23,825) | PDF p. 127 |
| Net cash used in financing activitiesSingapore dollars thousands | (49,936) | (68,197) | PDF p. 127 |
| Net increase in cash and cash equivalentsSingapore dollars thousands | 15,504 | 11,193 | PDF p. 127 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 69,911 | 59,618 | PDF p. 127 |
| Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands | (1,472) | (900) | PDF p. 127 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 83,943 | 69,911 | PDF p. 127 |
Original report: PDF p. 127 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Basic EPS profit numerator | |||
| Net loss attributable to owners of the CompanySingapore dollars thousands | (16,873) | (6,003) | PDF p. 200 |
Original report: PDF p. 200 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Basic EPS weighted ordinary shares | |||
| Weighted average number of ordinary shares during the yearShares thousands | 4,443,129 | 4,443,129 | PDF p. 200 |
Original report: PDF p. 200 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Diluted EPS profit numerator | |||
| Net loss attributable to owners of the CompanySingapore dollars thousands | (16,873) | (6,003) | PDF p. 200 |
Original report: PDF p. 200 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Diluted EPS weighted ordinary shares and conversion effect | |||
| Ordinary share issued at the reporting dateShares thousands | 4,443,129 | 4,443,129 | PDF p. 200 |
| Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands | 2,708,681 | 2,708,681 | PDF p. 200 |
| Weighted average number of ordinary shares during the yearShares thousands | 7,151,810 | 7,151,810 | PDF p. 200 |
Original report: PDF p. 200 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Revenue by nature | |||
| Provision of medical servicesSingapore dollars thousands | 35,421 | 33,762 | PDF p. 195 |
| Rental incomeSingapore dollars thousands | 100,531 | 102,211 | PDF p. 195 |
| Sale of medicine and medical devicesSingapore dollars thousands | 16,436 | 14,304 | PDF p. 195 |
| SubtotalSingapore dollars thousands | 152,388 | 150,277 | PDF p. 195 |
Original report: PDF p. 195 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Other expenses, net | |||
| Net fair value losses on investment propertiesSingapore dollars thousands | (3,528) | (9,578) | PDF p. 197 |
| Fair value losses on investment properties under developmentSingapore dollars thousands | (5,266) | (928) | PDF p. 197 |
| Loss on disposal of a subsidiarySingapore dollars thousands | (7,535) | – | PDF p. 197 |
| Loss on disposal of quoted sharesSingapore dollars thousands | (1) | – | PDF p. 197 |
| Loss on classification as held for saleSingapore dollars thousands | – | (2,185) | PDF p. 197 |
| Loss on disposal of asset held for saleSingapore dollars thousands | – | (242) | PDF p. 197 |
| Impairment losses on property, plant and equipmentSingapore dollars thousands | (1,090) | – | PDF p. 197 |
| Property, plant and equipment written offSingapore dollars thousands | (8) | – | PDF p. 197 |
| Other expensesSingapore dollars thousands | (17,428) | (12,933) | PDF p. 197 |
| Net fair value gains of derivative financial instrumentsSingapore dollars thousands | 473 | 440 | PDF p. 197 |
| Trade and other payable written backSingapore dollars thousands | – | 22 | PDF p. 197 |
| Gain on disposal of a subsidiarySingapore dollars thousands | – | 46 | PDF p. 197 |
| Recovery of litigation costs and settlement sumSingapore dollars thousands | – | 1,303 | PDF p. 197 |
| Government grantsSingapore dollars thousands | 102 | 52 | PDF p. 197 |
| OthersSingapore dollars thousands | 151 | 505 | PDF p. 197 |
| Other incomeSingapore dollars thousands | 726 | 2,368 | PDF p. 197 |
| Other expenses, netSingapore dollars thousands | (16,702) | (10,565) | PDF p. 197 |
Original report: PDF p. 197 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year1January–31December2025 | 2024Group / year1January–31December2024 | Source |
|---|---|---|---|
| Finance income, costs and net finance costs | |||
| Interest incomeSingapore dollars thousands | 538 | 684 | PDF p. 197 |
| Finance incomeSingapore dollars thousands | 538 | 684 | PDF p. 197 |
| Amortisation of transaction costsSingapore dollars thousands | (4,705) | (4,531) | PDF p. 197 |
| Interest expenseSingapore dollars thousands | (19,312) | (23,887) | PDF p. 197 |
| Foreign exchange loss, netSingapore dollars thousands | (9,564) | (7,090) | PDF p. 197 |
| Finance costsSingapore dollars thousands | (33,581) | (35,508) | PDF p. 197 |
| Net finance costsSingapore dollars thousands | (33,043) | (34,824) | PDF p. 197 |
Original report: PDF p. 197 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Group comprehensive income | ||
| RevenueSingapore dollars thousands | 159,315 | PDF p. 120 |
| Cost of salesSingapore dollars thousands | (37,585) | PDF p. 120 |
| Gross profitSingapore dollars thousands | 121,730 | PDF p. 120 |
| Administrative expensesSingapore dollars thousands | (30,881) | PDF p. 120 |
| Other (expenses)/income, netSingapore dollars thousands | 11,563 | PDF p. 120 |
| Results from operating activitiesSingapore dollars thousands | 102,412 | PDF p. 120 |
| Finance incomeSingapore dollars thousands | 701 | PDF p. 120 |
| Finance costsSingapore dollars thousands | (30,287) | PDF p. 120 |
| Net finance costsSingapore dollars thousands | (29,586) | PDF p. 120 |
| Share of results of equity-accounted investees (net of tax)Singapore dollars thousands | 1,692 | PDF p. 120 |
| Profit before taxSingapore dollars thousands | 74,518 | PDF p. 120 |
| Tax expenseSingapore dollars thousands | (17,008) | PDF p. 120 |
| Profit after tax for the yearSingapore dollars thousands | 57,510 | PDF p. 120 |
| Items that are or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | (22,183) | PDF p. 120 |
| Currency translation differences reclassified to profit or lossSingapore dollars thousands | – | PDF p. 120 |
| Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands | (1,769) | PDF p. 120 |
| Items that will not be reclassified to profit or loss | ||
| Share of fair value reserve of equity-accounted investeesSingapore dollars thousands | 387 | PDF p. 120 |
| Net change in fair value - equity investment at FVOCISingapore dollars thousands | (170) | PDF p. 120 |
| Other comprehensive income, net of taxSingapore dollars thousands | (23,735) | PDF p. 120 |
| Total comprehensive income for the yearSingapore dollars thousands | 33,775 | PDF p. 120 |
| Profit after tax attributable to | ||
| Owners of the CompanySingapore dollars thousands | 8,049 | PDF p. 120 |
| Non-controlling interestsSingapore dollars thousands | 49,461 | PDF p. 120 |
| SubtotalSingapore dollars thousands | 57,510 | PDF p. 120 |
| Total comprehensive income attributable to | ||
| Owners of the CompanySingapore dollars thousands | (2,580) | PDF p. 120 |
| Non-controlling interestsSingapore dollars thousands | 36,355 | PDF p. 120 |
| SubtotalSingapore dollars thousands | 33,775 | PDF p. 120 |
| Earnings per share | ||
| Basic earnings per share (cents)Singapore cents per share | 0.18 | PDF p. 120 |
| Diluted earnings per share (cents)Singapore cents per share | 0.11 | PDF p. 120 |
Original report: PDF p. 120 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| ASSETS | ||
| Property, plant and equipmentSingapore dollars thousands | 8,794 | PDF p. 118 |
| Intangible assets and goodwillSingapore dollars thousands | 30,722 | PDF p. 118 |
| Investment propertiesSingapore dollars thousands | 1,139,468 | PDF p. 118 |
| Investment properties under developmentSingapore dollars thousands | 48,493 | PDF p. 118 |
| SubsidiariesSingapore dollars thousands | – | PDF p. 118 |
| Associate and joint venturesSingapore dollars thousands | 130,885 | PDF p. 118 |
| Other investmentSingapore dollars thousands | 2,648 | PDF p. 118 |
| Trade and other receivablesSingapore dollars thousands | 3,223 | PDF p. 118 |
| Non-current assetsSingapore dollars thousands | 1,364,233 | PDF p. 118 |
| InventoriesSingapore dollars thousands | 855 | PDF p. 118 |
| Trade and other receivablesSingapore dollars thousands | 22,834 | PDF p. 118 |
| Derivative financial instrumentsSingapore dollars thousands | 560 | PDF p. 118 |
| Cash and cash equivalentsSingapore dollars thousands | 59,618 | PDF p. 118 |
| Current assetsSingapore dollars thousands | 83,867 | PDF p. 118 |
| Total assetsSingapore dollars thousands | 1,448,100 | PDF p. 118 |
| EQUITY | ||
| Share capitalSingapore dollars thousands | 418,913 | PDF p. 118 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | PDF p. 118 |
| Capital reserveSingapore dollars thousands | 4,285 | PDF p. 118 |
| Asset revaluation reserveSingapore dollars thousands | 3,630 | PDF p. 118 |
| Foreign currency translation reserveSingapore dollars thousands | (50,445) | PDF p. 118 |
| Fair value reserveSingapore dollars thousands | (25,703) | PDF p. 118 |
| Accumulated lossesSingapore dollars thousands | (136,119) | PDF p. 118 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 294,196 | PDF p. 118 |
| Non-controlling interestsSingapore dollars thousands | 461,816 | PDF p. 118 |
| Total equitySingapore dollars thousands | 756,012 | PDF p. 118 |
Original report: PDF p. 118 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / year1January–31December2023 | Source |
|---|---|---|
| ASSETS | ||
| Property, plant and equipmentSingapore dollars thousands | 747 | PDF p. 118 |
| Intangible assets and goodwillSingapore dollars thousands | – | PDF p. 118 |
| Investment propertiesSingapore dollars thousands | – | PDF p. 118 |
| Investment properties under developmentSingapore dollars thousands | – | PDF p. 118 |
| SubsidiariesSingapore dollars thousands | * | PDF p. 118 |
| Associate and joint venturesSingapore dollars thousands | 23,607 | PDF p. 118 |
| Other investmentSingapore dollars thousands | – | PDF p. 118 |
| Trade and other receivablesSingapore dollars thousands | 305,816 | PDF p. 118 |
| Non-current assetsSingapore dollars thousands | 330,170 | PDF p. 118 |
| InventoriesSingapore dollars thousands | – | PDF p. 118 |
| Trade and other receivablesSingapore dollars thousands | 14,737 | PDF p. 118 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 118 |
| Cash and cash equivalentsSingapore dollars thousands | 2,863 | PDF p. 118 |
| Current assetsSingapore dollars thousands | 17,600 | PDF p. 118 |
| Total assetsSingapore dollars thousands | 347,770 | PDF p. 118 |
| EQUITY | ||
| Share capitalSingapore dollars thousands | 418,913 | PDF p. 118 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | PDF p. 118 |
| Capital reserveSingapore dollars thousands | – | PDF p. 118 |
| Asset revaluation reserveSingapore dollars thousands | – | PDF p. 118 |
| Foreign currency translation reserveSingapore dollars thousands | – | PDF p. 118 |
| Fair value reserveSingapore dollars thousands | – | PDF p. 118 |
| Accumulated lossesSingapore dollars thousands | (218,532) | PDF p. 118 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 280,016 | PDF p. 118 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 118 |
| Total equitySingapore dollars thousands | 280,016 | PDF p. 118 |
Original report: PDF p. 118 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| LIABILITIES | ||
| Loans and borrowingsSingapore dollars thousands | 517,306 | PDF p. 119 |
| Trade and other payablesSingapore dollars thousands | 18,557 | PDF p. 119 |
| Lease liabilitiesSingapore dollars thousands | 2,210 | PDF p. 119 |
| Deferred tax liabilitiesSingapore dollars thousands | 50,477 | PDF p. 119 |
| Derivative financial instrumentsSingapore dollars thousands | 259 | PDF p. 119 |
| Non-current liabilitiesSingapore dollars thousands | 588,809 | PDF p. 119 |
| Loans and borrowingsSingapore dollars thousands | 31,346 | PDF p. 119 |
| Trade and other payablesSingapore dollars thousands | 46,455 | PDF p. 119 |
| ProvisionsSingapore dollars thousands | 20,199 | PDF p. 119 |
| Lease liabilitiesSingapore dollars thousands | 1,683 | PDF p. 119 |
| Current tax liabilitiesSingapore dollars thousands | 3,569 | PDF p. 119 |
| Derivative financial instrumentsSingapore dollars thousands | 27 | PDF p. 119 |
| Current liabilitiesSingapore dollars thousands | 103,279 | PDF p. 119 |
| Total liabilitiesSingapore dollars thousands | 692,088 | PDF p. 119 |
| Total equity and liabilitiesSingapore dollars thousands | 1,448,100 | PDF p. 119 |
Original report: PDF p. 119 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / year1January–31December2023 | Source |
|---|---|---|
| LIABILITIES | ||
| Loans and borrowingsSingapore dollars thousands | 11,875 | PDF p. 119 |
| Trade and other payablesSingapore dollars thousands | – | PDF p. 119 |
| Lease liabilitiesSingapore dollars thousands | 292 | PDF p. 119 |
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 119 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 119 |
| Non-current liabilitiesSingapore dollars thousands | 12,167 | PDF p. 119 |
| Loans and borrowingsSingapore dollars thousands | 30,000 | PDF p. 119 |
| Trade and other payablesSingapore dollars thousands | 5,098 | PDF p. 119 |
| ProvisionsSingapore dollars thousands | 20,199 | PDF p. 119 |
| Lease liabilitiesSingapore dollars thousands | 284 | PDF p. 119 |
| Current tax liabilitiesSingapore dollars thousands | 6 | PDF p. 119 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 119 |
| Current liabilitiesSingapore dollars thousands | 55,587 | PDF p. 119 |
| Total liabilitiesSingapore dollars thousands | 67,754 | PDF p. 119 |
| Total equity and liabilitiesSingapore dollars thousands | 347,770 | PDF p. 119 |
Original report: PDF p. 119 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / Share capital | 2023Group / Convertible perpetual securities | 2023Group / Capital reserve | 2023Group / Asset revaluation reserve | 2023Group / Foreign currency translation reserve | 2023Group / Fair value reserve | 2023Group / Accumulated losses | 2023Group / Total attributable to owners of the Company | 2023Group / Non-controlling interests | 2023Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | |||||||||||
| At 1 January 2023Singapore dollars thousands | 418,913 | 79,635 | 4,203 | 3,630 | (39,517) | (25,920) | (142,210) | 298,734 | 459,289 | 758,023 | PDF p. 122 |
| Profit for the yearSingapore dollars thousands | – | – | – | – | – | – | 8,049 | 8,049 | 49,461 | 57,510 | PDF p. 122 |
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | – | – | 82 | – | (9,159) | – | – | (9,077) | (13,106) | (22,183) | PDF p. 122 |
| Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands | – | – | – | – | (1,769) | – | – | (1,769) | – | (1,769) | PDF p. 122 |
| Share of fair value reserve of equity-accounted investeesSingapore dollars thousands | – | – | – | – | – | 387 | – | 387 | – | 387 | PDF p. 122 |
| Net change in fair value – equity investment at FVOCISingapore dollars thousands | – | – | – | – | – | (170) | – | (170) | – | (170) | PDF p. 122 |
| Total other comprehensive income, net of taxSingapore dollars thousands | – | – | 82 | – | (10,928) | 217 | – | (10,629) | (13,106) | (23,735) | PDF p. 122 |
| Total comprehensive income for the yearSingapore dollars thousands | – | – | 82 | – | (10,928) | 217 | 8,049 | (2,580) | 36,355 | 33,775 | PDF p. 122 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | – | – | – | – | – | – | – | – | (1,656) | (1,656) | PDF p. 122 |
| Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands | – | – | – | – | – | – | – | – | (34,130) | (34,130) | PDF p. 122 |
| Total contributions by and distributions to ownersSingapore dollars thousands | – | – | – | – | – | – | – | – | (35,786) | (35,786) | PDF p. 122 |
| Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands | – | – | – | – | – | – | (1,958) | (1,958) | 1,958 | – | PDF p. 122 |
| Total changes in ownership interests in subsidiariesSingapore dollars thousands | – | – | – | – | – | – | (1,958) | (1,958) | 1,958 | – | PDF p. 122 |
| Total transactions with ownersSingapore dollars thousands | – | – | – | – | – | – | (1,958) | (1,958) | (33,828) | (35,786) | PDF p. 122 |
| At 31 December 2023Singapore dollars thousands | 418,913 | 79,635 | 4,285 | 3,630 | (50,445) | (25,703) | (136,119) | 294,196 | 461,816 | 756,012 | PDF p. 122 |
Original report: PDF p. 122 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Cash flows from operating activities | ||
| Profit after taxSingapore dollars thousands | 57,510 | PDF p. 123 |
| Adjustments for: | ||
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,155 | PDF p. 123 |
| Net fair value losses/(gains) on investment propertiesSingapore dollars thousands | (10,834) | PDF p. 123 |
| Fair value losses on investment properties under developmentSingapore dollars thousands | 948 | PDF p. 123 |
| Net fair value (gains)/losses of derivative financial instrumentsSingapore dollars thousands | 477 | PDF p. 123 |
| Property, plant and equipment written-offSingapore dollars thousands | 2 | PDF p. 123 |
| Adjustment on rental straight-liningSingapore dollars thousands | (15,189) | PDF p. 123 |
| Impairment losses on property, plant and equipmentSingapore dollars thousands | 589 | PDF p. 123 |
| Interest incomeSingapore dollars thousands | (701) | PDF p. 123 |
| Interest expenseSingapore dollars thousands | 26,546 | PDF p. 123 |
| Gain on disposal of a subsidiarySingapore dollars thousands | – | PDF p. 123 |
| Losses on disposal of quoted sharesSingapore dollars thousands | 7 | PDF p. 123 |
| Loss on classification as held for saleSingapore dollars thousands | – | PDF p. 123 |
| Loss on disposal of asset held for saleSingapore dollars thousands | – | PDF p. 123 |
| Share of results of equity-accounted investees, net of taxSingapore dollars thousands | (1,692) | PDF p. 123 |
| Manager’s management fees settled in unitsSingapore dollars thousands | 4,468 | PDF p. 123 |
| Trade and other receivables written offSingapore dollars thousands | 455 | PDF p. 123 |
| Trade and other payable written backSingapore dollars thousands | (1,705) | PDF p. 123 |
| Tax expenseSingapore dollars thousands | 17,008 | PDF p. 123 |
| SubtotalSingapore dollars thousands | 80,044 | PDF p. 123 |
| Changes in: | ||
| - InventoriesSingapore dollars thousands | (81) | PDF p. 123 |
| - Trade and other receivablesSingapore dollars thousands | (2,718) | PDF p. 123 |
| - Trade and other payablesSingapore dollars thousands | 1,186 | PDF p. 123 |
| Cash generated from operationsSingapore dollars thousands | 78,431 | PDF p. 123 |
| Tax paidSingapore dollars thousands | (12,908) | PDF p. 123 |
| Net cash from operating activitiesSingapore dollars thousands | 65,523 | PDF p. 123 |
Original report: PDF p. 123 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Cash flows from investing activities | ||
| Acquisition of equity-accounted investeesSingapore dollars thousands | (57,120) | PDF p. 124 |
| Acquisition of a subsidiary, net of cash acquiredSingapore dollars thousands | – | PDF p. 124 |
| Capital contribution in equity-accounted investeesSingapore dollars thousands | (2,904) | PDF p. 124 |
| Capital expenditures to investment propertiesSingapore dollars thousands | (4,923) | PDF p. 124 |
| Contingent consideration paidSingapore dollars thousands | – | PDF p. 124 |
| Investment in quoted sharesSingapore dollars thousands | (117) | PDF p. 124 |
| Proceeds from disposals of quoted sharesSingapore dollars thousands | 110 | PDF p. 124 |
| Net cash (outflow)/inflow from disposal of a subsidiarySingapore dollars thousands | 246 | PDF p. 124 |
| Net cash inflow from disposal of asset held for saleSingapore dollars thousands | – | PDF p. 124 |
| Repayment of advance to joint venture partnerSingapore dollars thousands | 1,800 | PDF p. 124 |
| Interest receivedSingapore dollars thousands | 540 | PDF p. 124 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (477) | PDF p. 124 |
| Net cash from/(used in) investing activitiesSingapore dollars thousands | (62,845) | PDF p. 124 |
| Cash flows from financing activities | ||
| Proceeds from borrowingsSingapore dollars thousands | 191,118 | PDF p. 124 |
| Repayment of borrowingsSingapore dollars thousands | (136,262) | PDF p. 124 |
| Payment of lease liabilitiesSingapore dollars thousands | (1,866) | PDF p. 124 |
| Proceeds from settlement of derivative financial instrumentsSingapore dollars thousands | 4 | PDF p. 124 |
| Loan from a fellow subsidiarySingapore dollars thousands | – | PDF p. 124 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | (1,656) | PDF p. 124 |
| Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands | (34,130) | PDF p. 124 |
| Payment of transaction costs related to loans and borrowingsSingapore dollars thousands | (3,778) | PDF p. 124 |
| Acquisition of a non-controlling interestsSingapore dollars thousands | – | PDF p. 124 |
| Interest paidSingapore dollars thousands | (21,523) | PDF p. 124 |
| Net cash used in financing activitiesSingapore dollars thousands | (8,093) | PDF p. 124 |
Original report: PDF p. 124 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Group cash flows | ||
| Net increase/(decrease) in cash and cash equivalentsSingapore dollars thousands | (5,415) | PDF p. 125 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 66,877 | PDF p. 125 |
| Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands | (1,844) | PDF p. 125 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 59,618 | PDF p. 125 |
Original report: PDF p. 125 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Basic EPS profit numerator | ||
| Net (loss)/profit attributable to owners of the CompanySingapore dollars thousands | 8,049 | PDF p. 192 |
Original report: PDF p. 192 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Basic EPS weighted ordinary shares | ||
| Weighted average number of ordinary shares during the yearShares thousands | 4,443,129 | PDF p. 192 |
Original report: PDF p. 192 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Diluted EPS profit numerator | ||
| Net (loss)/profit attributable to owners of the CompanySingapore dollars thousands | 8,049 | PDF p. 192 |
Original report: PDF p. 192 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year1January–31December2023 | Source |
|---|---|---|
| Diluted EPS weighted ordinary shares and conversion effect | ||
| Ordinary share issued at the reporting dateShares thousands | 4,443,129 | PDF p. 192 |
| Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands | 2,708,681 | PDF p. 192 |
| Weighted average number of ordinary shares during the yearShares thousands | 7,151,810 | PDF p. 192 |
Original report: PDF p. 192 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Group comprehensive income | ||
| RevenueSingapore dollars thousands | 119,796 | PDF p. 113 |
| Cost of salesSingapore dollars thousands | (18,187) | PDF p. 113 |
| Gross profitSingapore dollars thousands | 101,609 | PDF p. 113 |
| Administrative expensesSingapore dollars thousands | (24,344) | PDF p. 113 |
| Other income/(expenses), netSingapore dollars thousands | (6,140) | PDF p. 113 |
| Results from operating activitiesSingapore dollars thousands | 71,125 | PDF p. 113 |
| Finance incomeSingapore dollars thousands | 456 | PDF p. 113 |
| Finance costsSingapore dollars thousands | (20,373) | PDF p. 113 |
| Net finance costsSingapore dollars thousands | (19,917) | PDF p. 113 |
| Share of results of equity-accounted investees (net of tax)Singapore dollars thousands | (1,473) | PDF p. 113 |
| Profit before taxSingapore dollars thousands | 49,735 | PDF p. 113 |
| Tax expenseSingapore dollars thousands | (17,239) | PDF p. 113 |
| Profit after tax for the yearSingapore dollars thousands | 32,496 | PDF p. 113 |
| Items that are or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | (82,476) | PDF p. 113 |
| Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands | (5,886) | PDF p. 113 |
| Items that will not be reclassified to profit or loss | ||
| Share of fair value reserve of equity-accounted investeesSingapore dollars thousands | (3,123) | PDF p. 113 |
| Net change in fair value - equity investment at FVOCISingapore dollars thousands | – | PDF p. 113 |
| Other comprehensive income, net of taxSingapore dollars thousands | (91,485) | PDF p. 113 |
| Total comprehensive income for the yearSingapore dollars thousands | (58,989) | PDF p. 113 |
| Profit after tax attributable to | ||
| Owners of the CompanySingapore dollars thousands | 4,392 | PDF p. 113 |
| Non-controlling interestsSingapore dollars thousands | 28,104 | PDF p. 113 |
| SubtotalSingapore dollars thousands | 32,496 | PDF p. 113 |
| Total comprehensive income attributable to | ||
| Owners of the CompanySingapore dollars thousands | (36,087) | PDF p. 113 |
| Non-controlling interestsSingapore dollars thousands | (22,902) | PDF p. 113 |
| SubtotalSingapore dollars thousands | (58,989) | PDF p. 113 |
| Earnings per share | ||
| Basic earnings per share (cents)Singapore cents per share | 0.10 | PDF p. 113 |
| Diluted earnings per share (cents)Singapore cents per share | 0.06 | PDF p. 113 |
Original report: PDF p. 113 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| ASSETS | ||
| Property, plant and equipmentSingapore dollars thousands | 8,201 | PDF p. 111 |
| Intangible assets and goodwillSingapore dollars thousands | 30,785 | PDF p. 111 |
| Investment propertiesSingapore dollars thousands | 1,145,343 | PDF p. 111 |
| Investment properties under developmentSingapore dollars thousands | 52,283 | PDF p. 111 |
| SubsidiariesSingapore dollars thousands | – | PDF p. 111 |
| Associate and joint venturesSingapore dollars thousands | 70,550 | PDF p. 111 |
| Other investmentSingapore dollars thousands | 2,817 | PDF p. 111 |
| Trade and other receivablesSingapore dollars thousands | 3,358 | PDF p. 111 |
| Derivative financial instrumentsSingapore dollars thousands | 1,248 | PDF p. 111 |
| Non-current assetsSingapore dollars thousands | 1,314,585 | PDF p. 111 |
| InventoriesSingapore dollars thousands | 774 | PDF p. 111 |
| Trade and other receivablesSingapore dollars thousands | 20,350 | PDF p. 111 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 111 |
| Cash and cash equivalentsSingapore dollars thousands | 66,877 | PDF p. 111 |
| Current assetsSingapore dollars thousands | 88,001 | PDF p. 111 |
| Total assetsSingapore dollars thousands | 1,402,586 | PDF p. 111 |
| EQUITY | ||
| Share capitalSingapore dollars thousands | 418,913 | PDF p. 111 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | PDF p. 111 |
| Capital reserveSingapore dollars thousands | 4,203 | PDF p. 111 |
| Asset revaluation reserveSingapore dollars thousands | 3,630 | PDF p. 111 |
| Foreign currency translation reserveSingapore dollars thousands | (39,517) | PDF p. 111 |
| Fair value reserveSingapore dollars thousands | (25,920) | PDF p. 111 |
| Accumulated lossesSingapore dollars thousands | (142,210) | PDF p. 111 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 298,734 | PDF p. 111 |
| Non-controlling interestsSingapore dollars thousands | 459,289 | PDF p. 111 |
| Total equitySingapore dollars thousands | 758,023 | PDF p. 111 |
Original report: PDF p. 111 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / year1January–31December2022 | Source |
|---|---|---|
| ASSETS | ||
| Property, plant and equipmentSingapore dollars thousands | 248 | PDF p. 111 |
| Intangible assets and goodwillSingapore dollars thousands | – | PDF p. 111 |
| Investment propertiesSingapore dollars thousands | – | PDF p. 111 |
| Investment properties under developmentSingapore dollars thousands | – | PDF p. 111 |
| SubsidiariesSingapore dollars thousands | * | PDF p. 111 |
| Associate and joint venturesSingapore dollars thousands | 23,607 | PDF p. 111 |
| Other investmentSingapore dollars thousands | – | PDF p. 111 |
| Trade and other receivablesSingapore dollars thousands | 58,872 | PDF p. 111 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 111 |
| Non-current assetsSingapore dollars thousands | 82,727 | PDF p. 111 |
| InventoriesSingapore dollars thousands | – | PDF p. 111 |
| Trade and other receivablesSingapore dollars thousands | 259,295 | PDF p. 111 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 111 |
| Cash and cash equivalentsSingapore dollars thousands | 9,648 | PDF p. 111 |
| Current assetsSingapore dollars thousands | 268,943 | PDF p. 111 |
| Total assetsSingapore dollars thousands | 351,670 | PDF p. 111 |
| EQUITY | ||
| Share capitalSingapore dollars thousands | 418,913 | PDF p. 111 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | PDF p. 111 |
| Capital reserveSingapore dollars thousands | – | PDF p. 111 |
| Asset revaluation reserveSingapore dollars thousands | – | PDF p. 111 |
| Foreign currency translation reserveSingapore dollars thousands | – | PDF p. 111 |
| Fair value reserveSingapore dollars thousands | – | PDF p. 111 |
| Accumulated lossesSingapore dollars thousands | (206,811) | PDF p. 111 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 291,737 | PDF p. 111 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 111 |
| Total equitySingapore dollars thousands | 291,737 | PDF p. 111 |
Original report: PDF p. 111 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| LIABILITIES | ||
| Loans and borrowingsSingapore dollars thousands | 449,614 | PDF p. 112 |
| Trade and other payablesSingapore dollars thousands | 29,023 | PDF p. 112 |
| Lease liabilitiesSingapore dollars thousands | 1,252 | PDF p. 112 |
| Deferred tax liabilitiesSingapore dollars thousands | 51,772 | PDF p. 112 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 112 |
| Non-current liabilitiesSingapore dollars thousands | 531,661 | PDF p. 112 |
| Loans and borrowingsSingapore dollars thousands | 52,933 | PDF p. 112 |
| Trade and other payablesSingapore dollars thousands | 35,895 | PDF p. 112 |
| ProvisionsSingapore dollars thousands | 20,724 | PDF p. 112 |
| Lease liabilitiesSingapore dollars thousands | 1,024 | PDF p. 112 |
| Current tax liabilitiesSingapore dollars thousands | 1,832 | PDF p. 112 |
| Derivative financial instrumentsSingapore dollars thousands | 494 | PDF p. 112 |
| Current liabilitiesSingapore dollars thousands | 112,902 | PDF p. 112 |
| Total liabilitiesSingapore dollars thousands | 644,563 | PDF p. 112 |
| Total equity and liabilitiesSingapore dollars thousands | 1,402,586 | PDF p. 112 |
Original report: PDF p. 112 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / year1January–31December2022 | Source |
|---|---|---|
| LIABILITIES | ||
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 112 |
| Trade and other payablesSingapore dollars thousands | – | PDF p. 112 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 112 |
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 112 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 112 |
| Non-current liabilitiesSingapore dollars thousands | – | PDF p. 112 |
| Loans and borrowingsSingapore dollars thousands | 30,189 | PDF p. 112 |
| Trade and other payablesSingapore dollars thousands | 9,020 | PDF p. 112 |
| ProvisionsSingapore dollars thousands | 20,724 | PDF p. 112 |
| Lease liabilitiesSingapore dollars thousands | – | PDF p. 112 |
| Current tax liabilitiesSingapore dollars thousands | – | PDF p. 112 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 112 |
| Current liabilitiesSingapore dollars thousands | 59,933 | PDF p. 112 |
| Total liabilitiesSingapore dollars thousands | 59,933 | PDF p. 112 |
| Total equity and liabilitiesSingapore dollars thousands | 351,670 | PDF p. 112 |
Original report: PDF p. 112 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / Share capital | 2022Group / Convertible perpetual securities | 2022Group / Capital reserve | 2022Group / Asset revaluation reserve | 2022Group / Foreign currency translation reserve | 2022Group / Fair value reserve | 2022Group / Accumulated losses | 2022Group / Total attributable to owners of the Company | 2022Group / Non-controlling interests | 2022Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | |||||||||||
| At 1 January 2022Singapore dollars thousands | 418,913 | 79,635 | – | 3,630 | (6,791) | (22,797) | (147,967) | 324,623 | (429) | 324,194 | PDF p. 115 |
| Profit for the yearSingapore dollars thousands | – | – | – | – | – | – | 4,392 | 4,392 | 28,104 | 32,496 | PDF p. 115 |
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | – | – | – | – | (31,470) | – | – | (31,470) | (51,006) | (82,476) | PDF p. 115 |
| Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands | – | – | – | – | (5,886) | – | – | (5,886) | – | (5,886) | PDF p. 115 |
| Share of fair value reserve of equity-accounted investeesSingapore dollars thousands | – | – | – | – | – | (3,123) | – | (3,123) | – | (3,123) | PDF p. 115 |
| Total other comprehensive income, net of taxSingapore dollars thousands | – | – | – | – | (37,356) | (3,123) | – | (40,479) | (51,006) | (91,485) | PDF p. 115 |
| Total comprehensive income for the yearSingapore dollars thousands | – | – | – | – | (37,356) | (3,123) | 4,392 | (36,087) | (22,902) | (58,989) | PDF p. 115 |
| Contributions by and distributions to owners Perpetual securities redemption, distribution and gain on redemption, net transaction costs by a subsidiarySingapore dollars thousands | – | – | – | – | – | – | 2,593 | 2,593 | (21,715) | (19,122) | PDF p. 115 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | – | – | – | – | – | – | – | – | (1,481) | (1,481) | PDF p. 115 |
| Distribution to unitholders by a subsidiarySingapore dollars thousands | – | – | – | – | – | – | – | – | (24,059) | (24,059) | PDF p. 115 |
| Total contributions by and distributions to ownersSingapore dollars thousands | – | – | – | – | – | – | 2,593 | 2,593 | (47,255) | (44,662) | PDF p. 115 |
| Changes in ownership interests in subsidiaries without a change in controlSingapore dollars thousands | – | – | – | – | – | – | (1,228) | (1,228) | 1,228 | – | PDF p. 115 |
| Disposal of subsidiaries to non-controlling interests without a change in controlSingapore dollars thousands | – | – | 4,203 | – | 4,630 | – | – | 8,833 | 92,190 | 101,023 | PDF p. 115 |
| Capital contribution from a fellow subsidiarySingapore dollars thousands | – | – | – | – | – | – | – | – | 400 | 400 | PDF p. 115 |
| Acquisition of a subsidiary with perpetual securities holdersSingapore dollars thousands | – | – | – | – | – | – | – | – | 59,651 | 59,651 | PDF p. 115 |
| Acquisition of subsidiaries with non-controlling interestSingapore dollars thousands | – | – | – | – | – | – | – | – | 376,406 | 376,406 | PDF p. 115 |
| Total changes in ownership interests in subsidiariesSingapore dollars thousands | – | – | 4,203 | – | 4,630 | – | (1,228) | 7,605 | 529,875 | 537,480 | PDF p. 115 |
| Total transactions with ownersSingapore dollars thousands | – | – | 4,203 | – | 4,630 | – | 1,365 | 10,198 | 482,620 | 492,818 | PDF p. 115 |
| At 31 December 2022Singapore dollars thousands | 418,913 | 79,635 | 4,203 | 3,630 | (39,517) | (25,920) | (142,210) | 298,734 | 459,289 | 758,023 | PDF p. 115 |
Original report: PDF p. 115 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Cash flows from operating activities | ||
| Profit after taxSingapore dollars thousands | 32,496 | PDF p. 116 |
| Adjustments for: | ||
| Depreciation of property, plant and equipmentSingapore dollars thousands | 1,496 | PDF p. 116 |
| Net fair value (gains)/losses on investment propertiesSingapore dollars thousands | 8,692 | PDF p. 116 |
| Fair value losses on investment properties under developmentSingapore dollars thousands | 1,429 | PDF p. 116 |
| Net fair value losses of derivative financial instrumentsSingapore dollars thousands | 420 | PDF p. 116 |
| Property, plant and equipment written-offSingapore dollars thousands | 5 | PDF p. 116 |
| Adjustment on rental straight-liningSingapore dollars thousands | (16,358) | PDF p. 116 |
| Impairment losses on property, plant and equipmentSingapore dollars thousands | – | PDF p. 116 |
| Interest incomeSingapore dollars thousands | (456) | PDF p. 116 |
| Interest expenseSingapore dollars thousands | 19,271 | PDF p. 116 |
| Net gain from the First REIT transactionSingapore dollars thousands | (3,144) | PDF p. 116 |
| Losses on disposal of quoted sharesSingapore dollars thousands | 30 | PDF p. 116 |
| Loss on disposal of a subsidiarySingapore dollars thousands | 713 | PDF p. 116 |
| Reversal of provision for site restorationSingapore dollars thousands | (910) | PDF p. 116 |
| Share of results of equity-accounted investees, net of taxSingapore dollars thousands | 1,473 | PDF p. 116 |
| Manager’s management fees settled in unitsSingapore dollars thousands | 3,980 | PDF p. 116 |
| Trade and other receivables written offSingapore dollars thousands | 127 | PDF p. 116 |
| Trade and other payable written backSingapore dollars thousands | – | PDF p. 116 |
| Tax expenseSingapore dollars thousands | 17,239 | PDF p. 116 |
| SubtotalSingapore dollars thousands | 66,503 | PDF p. 116 |
| Changes in: | ||
| - InventoriesSingapore dollars thousands | (478) | PDF p. 116 |
| - Trade and other receivablesSingapore dollars thousands | 24,406 | PDF p. 116 |
| - Trade and other payablesSingapore dollars thousands | (26,333) | PDF p. 116 |
| Cash generated from operationsSingapore dollars thousands | 64,098 | PDF p. 116 |
| Tax paidSingapore dollars thousands | (12,479) | PDF p. 116 |
| Net cash from operating activitiesSingapore dollars thousands | 51,619 | PDF p. 116 |
Original report: PDF p. 116 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Cash flows from investing activities | ||
| Acquisition of equity-accounted investeesSingapore dollars thousands | – | PDF p. 117 |
| Acquisition of investment propertiesSingapore dollars thousands | (31,061) | PDF p. 117 |
| Acquisition of other investmentSingapore dollars thousands | (2,817) | PDF p. 117 |
| Acquisition of subsidiaries, net of cash acquiredSingapore dollars thousands | (18,639) | PDF p. 117 |
| Capital contribution in equity-accounted investeesSingapore dollars thousands | (4,901) | PDF p. 117 |
| Capital contribution from a fellow subsidiarySingapore dollars thousands | 400 | PDF p. 117 |
| Capital expenditures to investment propertiesSingapore dollars thousands | (4,278) | PDF p. 117 |
| Dividends from an equity-accounted investeeSingapore dollars thousands | 2,830 | PDF p. 117 |
| Investment in quoted sharesSingapore dollars thousands | (383) | PDF p. 117 |
| Disposals of quoted sharesSingapore dollars thousands | 492 | PDF p. 117 |
| Net cash inflow from the First REIT transactionSingapore dollars thousands | 58,484 | PDF p. 117 |
| Net cash inflow from disposal of a subsidiarySingapore dollars thousands | 37,954 | PDF p. 117 |
| Repayment of loan from joint ventureSingapore dollars thousands | 3,000 | PDF p. 117 |
| Repayment of advance to joint venture partnerSingapore dollars thousands | 2,310 | PDF p. 117 |
| Interest receivedSingapore dollars thousands | 413 | PDF p. 117 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (610) | PDF p. 117 |
| Net cash (used in)/from investing activitiesSingapore dollars thousands | 43,194 | PDF p. 117 |
| Cash flows from financing activities | ||
| Proceeds from borrowingsSingapore dollars thousands | 379,271 | PDF p. 117 |
| Repayment of borrowingsSingapore dollars thousands | (387,968) | PDF p. 117 |
| Payment of lease liabilitiesSingapore dollars thousands | (1,066) | PDF p. 117 |
| Proceeds from settlement of derivative financial instrumentsSingapore dollars thousands | – | PDF p. 117 |
| Loan from a fellow subsidiarySingapore dollars thousands | 8,000 | PDF p. 117 |
| Perpetual securities redemption, distribution and gain on redemption, net transaction cost by a subsidiarySingapore dollars thousands | (19,122) | PDF p. 117 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | (1,481) | PDF p. 117 |
| Distribution to unitholders and dividends paid to shareholders by subsidiariesSingapore dollars thousands | (24,059) | PDF p. 117 |
| Payment of transaction costs related to loans and borrowingsSingapore dollars thousands | (7,176) | PDF p. 117 |
| Interest paidSingapore dollars thousands | (14,328) | PDF p. 117 |
| Net cash used in financing activitiesSingapore dollars thousands | (67,929) | PDF p. 117 |
Original report: PDF p. 117 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Group cash flows | ||
| Net (decrease)/increase in cash and cash equivalentsSingapore dollars thousands | 26,884 | PDF p. 118 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 43,823 | PDF p. 118 |
| Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands | (3,830) | PDF p. 118 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 66,877 | PDF p. 118 |
Original report: PDF p. 118 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Basic EPS profit numerator | ||
| Net profit attributable to owners of the CompanySingapore dollars thousands | 4,392 | PDF p. 197 |
Original report: PDF p. 197 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Basic EPS weighted ordinary shares | ||
| Weighted average number of ordinary shares during the yearShares thousands | 4,443,129 | PDF p. 197 |
Original report: PDF p. 197 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Diluted EPS profit numerator | ||
| Net profit attributable to owners of the CompanySingapore dollars thousands | 4,392 | PDF p. 197 |
Original report: PDF p. 197 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year1January–31December2022 | Source |
|---|---|---|
| Diluted EPS weighted ordinary shares and conversion effect | ||
| Ordinary share issued at the reporting dateShares thousands | 4,443,129 | PDF p. 197 |
| Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands | 2,708,681 | PDF p. 197 |
| Weighted average number of ordinary shares during the yearShares thousands | 7,151,810 | PDF p. 197 |
Original report: PDF p. 197 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Group comprehensive income | ||
| RevenueSingapore dollars thousands | 19,665 | PDF p. 56 |
| Cost of salesSingapore dollars thousands | (5,092) | PDF p. 56 |
| Gross profitSingapore dollars thousands | 14,573 | PDF p. 56 |
| Administrative expensesSingapore dollars thousands | (12,985) | PDF p. 56 |
| Other (expenses)/income, netSingapore dollars thousands | 97,824 | PDF p. 56 |
| Results from operating activitiesSingapore dollars thousands | 99,412 | PDF p. 56 |
| Finance incomeSingapore dollars thousands | 260 | PDF p. 56 |
| Finance costsSingapore dollars thousands | (4,043) | PDF p. 56 |
| Net finance costsSingapore dollars thousands | (3,783) | PDF p. 56 |
| Share of results of equity-accounted investees (net of tax)Singapore dollars thousands | 12,648 | PDF p. 56 |
| Profit before taxSingapore dollars thousands | 108,277 | PDF p. 56 |
| Tax (expense)/creditSingapore dollars thousands | 2,672 | PDF p. 56 |
| Profit after tax for the yearSingapore dollars thousands | 110,949 | PDF p. 56 |
| Items that are or may be reclassified subsequently to profit or loss | ||
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | (8,819) | PDF p. 56 |
| Share of foreign currency translation differences of equity-accounted investeesSingapore dollars thousands | (3,873) | PDF p. 56 |
| Items that will not be reclassified to profit or loss | ||
| Share of fair value reserve of equity-accounted investeesSingapore dollars thousands | 5,065 | PDF p. 56 |
| Other comprehensive income, net of taxSingapore dollars thousands | (7,627) | PDF p. 56 |
| Total comprehensive income for the yearSingapore dollars thousands | 103,322 | PDF p. 56 |
| Profit after tax attributable to | ||
| Owners of the CompanySingapore dollars thousands | 111,378 | PDF p. 56 |
| Non-controlling interestsSingapore dollars thousands | (429) | PDF p. 56 |
| SubtotalSingapore dollars thousands | 110,949 | PDF p. 56 |
| Total comprehensive income attributable to | ||
| Owners of the CompanySingapore dollars thousands | 103,751 | PDF p. 56 |
| Non-controlling interestsSingapore dollars thousands | (429) | PDF p. 56 |
| SubtotalSingapore dollars thousands | 103,322 | PDF p. 56 |
| Earnings per share | ||
| Basic earnings per share (cents)Singapore cents per share | 2.51 | PDF p. 56 |
| Diluted earnings per share (cents)Singapore cents per share | 1.69 | PDF p. 56 |
Original report: PDF p. 56 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Assets | ||
| Property, plant and equipmentSingapore dollars thousands | 7,460 | PDF p. 55 |
| Intangible assets and goodwillSingapore dollars thousands | 3,066 | PDF p. 55 |
| Investment propertiesSingapore dollars thousands | 290,556 | PDF p. 55 |
| Investment properties under developmentSingapore dollars thousands | 57,691 | PDF p. 55 |
| SubsidiariesSingapore dollars thousands | – | PDF p. 55 |
| Associate and joint venturesSingapore dollars thousands | 175,711 | PDF p. 55 |
| Other investmentSingapore dollars thousands | – | PDF p. 55 |
| Trade and other receivablesSingapore dollars thousands | 3,215 | PDF p. 55 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 55 |
| Non-current assetsSingapore dollars thousands | 537,699 | PDF p. 55 |
| InventoriesSingapore dollars thousands | 296 | PDF p. 55 |
| Trade and other receivablesSingapore dollars thousands | 12,579 | PDF p. 55 |
| Cash and cash equivalentsSingapore dollars thousands | 43,823 | PDF p. 55 |
| Current assetsSingapore dollars thousands | 56,698 | PDF p. 55 |
| Total assetsSingapore dollars thousands | 594,397 | PDF p. 55 |
| Equity | ||
| Share capitalSingapore dollars thousands | 418,913 | PDF p. 55 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | PDF p. 55 |
| Capital reserveSingapore dollars thousands | – | PDF p. 55 |
| Asset revaluation reserveSingapore dollars thousands | 3,630 | PDF p. 55 |
| Foreign currency translation reserveSingapore dollars thousands | (6,791) | PDF p. 55 |
| Fair value reserveSingapore dollars thousands | (22,797) | PDF p. 55 |
| Accumulated lossesSingapore dollars thousands | (147,967) | PDF p. 55 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 324,623 | PDF p. 55 |
| Non-controlling interestsSingapore dollars thousands | (429) | PDF p. 55 |
| Total equitySingapore dollars thousands | 324,194 | PDF p. 55 |
Original report: PDF p. 55 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / year1January–31December2021 | Source |
|---|---|---|
| Assets | ||
| Property, plant and equipmentSingapore dollars thousands | 453 | PDF p. 55 |
| Intangible assets and goodwillSingapore dollars thousands | – | PDF p. 55 |
| Investment propertiesSingapore dollars thousands | – | PDF p. 55 |
| Investment properties under developmentSingapore dollars thousands | – | PDF p. 55 |
| SubsidiariesSingapore dollars thousands | 84,092 | PDF p. 55 |
| Associate and joint venturesSingapore dollars thousands | 23,607 | PDF p. 55 |
| Other investmentSingapore dollars thousands | – | PDF p. 55 |
| Trade and other receivablesSingapore dollars thousands | 9,792 | PDF p. 55 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 55 |
| Non-current assetsSingapore dollars thousands | 117,944 | PDF p. 55 |
| InventoriesSingapore dollars thousands | – | PDF p. 55 |
| Trade and other receivablesSingapore dollars thousands | 215,458 | PDF p. 55 |
| Cash and cash equivalentsSingapore dollars thousands | 6,057 | PDF p. 55 |
| Current assetsSingapore dollars thousands | 221,515 | PDF p. 55 |
| Total assetsSingapore dollars thousands | 339,459 | PDF p. 55 |
| Equity | ||
| Share capitalSingapore dollars thousands | 418,913 | PDF p. 55 |
| Convertible perpetual securitiesSingapore dollars thousands | 79,635 | PDF p. 55 |
| Capital reserveSingapore dollars thousands | – | PDF p. 55 |
| Asset revaluation reserveSingapore dollars thousands | – | PDF p. 55 |
| Foreign currency translation reserveSingapore dollars thousands | – | PDF p. 55 |
| Fair value reserveSingapore dollars thousands | – | PDF p. 55 |
| Accumulated lossesSingapore dollars thousands | (262,189) | PDF p. 55 |
| Equity attributable to owners of the CompanySingapore dollars thousands | 236,359 | PDF p. 55 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 55 |
| Total equitySingapore dollars thousands | 236,359 | PDF p. 55 |
Original report: PDF p. 55 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Liabilities | ||
| Loans and borrowingsSingapore dollars thousands | 146,272 | PDF p. 56 |
| Trade and other payablesSingapore dollars thousands | 7,448 | PDF p. 56 |
| Lease liabilitiesSingapore dollars thousands | 911 | PDF p. 56 |
| Deferred tax liabilitiesSingapore dollars thousands | 34,597 | PDF p. 56 |
| Non-current liabilitiesSingapore dollars thousands | 189,228 | PDF p. 56 |
| Loans and borrowingsSingapore dollars thousands | 40,847 | PDF p. 56 |
| Trade and other payablesSingapore dollars thousands | 17,161 | PDF p. 56 |
| ProvisionsSingapore dollars thousands | 22,507 | PDF p. 56 |
| Lease liabilitiesSingapore dollars thousands | 407 | PDF p. 56 |
| Current tax liabilitiesSingapore dollars thousands | 53 | PDF p. 56 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 56 |
| Current liabilitiesSingapore dollars thousands | 80,975 | PDF p. 56 |
| Total liabilitiesSingapore dollars thousands | 270,203 | PDF p. 56 |
| Total equity and liabilitiesSingapore dollars thousands | 594,397 | PDF p. 56 |
Original report: PDF p. 56 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / year1January–31December2021 | Source |
|---|---|---|
| Liabilities | ||
| Loans and borrowingsSingapore dollars thousands | – | PDF p. 56 |
| Trade and other payablesSingapore dollars thousands | – | PDF p. 56 |
| Lease liabilitiesSingapore dollars thousands | 132 | PDF p. 56 |
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 56 |
| Non-current liabilitiesSingapore dollars thousands | 132 | PDF p. 56 |
| Loans and borrowingsSingapore dollars thousands | 30,189 | PDF p. 56 |
| Trade and other payablesSingapore dollars thousands | 51,564 | PDF p. 56 |
| ProvisionsSingapore dollars thousands | 20,957 | PDF p. 56 |
| Lease liabilitiesSingapore dollars thousands | 258 | PDF p. 56 |
| Current tax liabilitiesSingapore dollars thousands | – | PDF p. 56 |
| Derivative financial instrumentsSingapore dollars thousands | – | PDF p. 56 |
| Current liabilitiesSingapore dollars thousands | 102,968 | PDF p. 56 |
| Total liabilitiesSingapore dollars thousands | 103,100 | PDF p. 56 |
| Total equity and liabilitiesSingapore dollars thousands | 339,459 | PDF p. 56 |
Original report: PDF p. 56 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / Share capital | 2021Group / Convertible perpetual securities | 2021Group / Asset revaluation reserve | 2021Group / Foreign currency translation reserve | 2021Group / Fair value reserve | 2021Group / Accumulated losses | 2021Group / Total attributable to owners of the Company | 2021Group / Non-controlling interests | 2021Group / Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Group changes in equity | ||||||||||
| At 1 January 2021, restatedSingapore dollars thousands | 418,913 | – | 3,630 | 5,901 | (27,862) | (259,345) | 141,237 | * | 141,237 | PDF p. 58 |
| Profit/(Loss) for the yearSingapore dollars thousands | – | – | – | – | – | 111,378 | 111,378 | (429) | 110,949 | PDF p. 58 |
| Foreign currency translation differences relating to foreign operationsSingapore dollars thousands | – | – | – | (8,819) | – | – | (8,819) | – | (8,819) | PDF p. 58 |
| Share of foreign currency translation differences of equity- accounted investeesSingapore dollars thousands | – | – | – | (3,873) | – | – | (3,873) | – | (3,873) | PDF p. 58 |
| Share of fair value reserve of equity- accounted investeesSingapore dollars thousands | – | – | – | – | 5,065 | – | 5,065 | – | 5,065 | PDF p. 58 |
| Total other comprehensive income, net of taxSingapore dollars thousands | – | – | – | (12,692) | 5,065 | – | (7,627) | – | (7,627) | PDF p. 58 |
| Total comprehensive income for the yearSingapore dollars thousands | – | – | – | (12,692) | 5,065 | 111,378 | 103,751 | (429) | 103,322 | PDF p. 58 |
| recognised directly in equity Issuance of convertible perpetual securitiesSingapore dollars thousands | – | 79,635 | – | – | – | – | 79,635 | – | 79,635 | PDF p. 58 |
| Total transactions with ownersSingapore dollars thousands | – | 79,635 | – | – | – | – | 79,635 | – | 79,635 | PDF p. 58 |
| At 31 December 2021Singapore dollars thousands | 418,913 | 79,635 | 3,630 | (6,791) | (22,797) | (147,967) | 324,623 | (429) | 324,194 | PDF p. 58 |
Original report: PDF p. 58 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Cash flows from operating activities | ||
| Profit after taxSingapore dollars thousands | 110,949 | PDF p. 58 |
| Adjustments for: | ||
| Depreciation of property, plant and equipmentSingapore dollars thousands | 882 | PDF p. 58 |
| Fair value losses on investment propertiesSingapore dollars thousands | – | PDF p. 58 |
| Fair value losses on investment properties under developmentSingapore dollars thousands | 17,514 | PDF p. 58 |
| Net fair value losses of derivative financial instrumentsSingapore dollars thousands | – | PDF p. 58 |
| Property, plant and equipment written-offSingapore dollars thousands | – | PDF p. 58 |
| Adjustment on rental straight-liningSingapore dollars thousands | – | PDF p. 58 |
| Impairment losses on property, plant and equipmentSingapore dollars thousands | 2,371 | PDF p. 58 |
| Interest incomeSingapore dollars thousands | (260) | PDF p. 58 |
| Interest expenseSingapore dollars thousands | 3,950 | PDF p. 58 |
| Net gain from the First REIT transactionSingapore dollars thousands | – | PDF p. 58 |
| Losses on disposal of quoted sharesSingapore dollars thousands | – | PDF p. 58 |
| Loss on disposal of a subsidiarySingapore dollars thousands | – | PDF p. 58 |
| Reversal of provision for site restorationSingapore dollars thousands | – | PDF p. 58 |
| Reversal of provisions for legal and related expensesSingapore dollars thousands | (5,000) | PDF p. 58 |
| Reversal of impairment losses of other receivablesSingapore dollars thousands | (801) | PDF p. 58 |
| Gain on shareholder loan conversionSingapore dollars thousands | (109,973) | PDF p. 58 |
| Share of results of equity-accounted investees, net of taxSingapore dollars thousands | (12,648) | PDF p. 58 |
| Manager’s management fees settled in unitsSingapore dollars thousands | – | PDF p. 58 |
| Tax expense/(credit)Singapore dollars thousands | (2,672) | PDF p. 58 |
| Trade and other receivables written offSingapore dollars thousands | – | PDF p. 58 |
| SubtotalSingapore dollars thousands | 4,312 | PDF p. 58 |
| Changes in: | ||
| - InventoriesSingapore dollars thousands | (77) | PDF p. 58 |
| - Trade and other receivablesSingapore dollars thousands | 465 | PDF p. 58 |
| - Trade and other payablesSingapore dollars thousands | (539) | PDF p. 58 |
| Cash generated from operationsSingapore dollars thousands | 4,161 | PDF p. 58 |
| Tax paidSingapore dollars thousands | (70) | PDF p. 58 |
| Net cash from operating activitiesSingapore dollars thousands | 4,091 | PDF p. 58 |
Original report: PDF p. 58 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Cash flows from investing activities | ||
| Acquisition of equity-accounted investeesSingapore dollars thousands | (32,651) | PDF p. 59 |
| Acquisition of investment propertiesSingapore dollars thousands | – | PDF p. 59 |
| Capital expenditure to investment propertiesSingapore dollars thousands | (1,104) | PDF p. 59 |
| Acquisition of other investmentSingapore dollars thousands | – | PDF p. 59 |
| Acquisition of subsidiaries, net of cash acquiredSingapore dollars thousands | – | PDF p. 59 |
| Capital contribution in equity-accounted investeesSingapore dollars thousands | – | PDF p. 59 |
| Capital contribution from a fellow subsidiarySingapore dollars thousands | – | PDF p. 59 |
| Dividends from an equity-accounted investeeSingapore dollars thousands | 5,516 | PDF p. 59 |
| Fund received from litigationSingapore dollars thousands | 4,821 | PDF p. 59 |
| Investment in quoted sharesSingapore dollars thousands | – | PDF p. 59 |
| Disposals of quoted sharesSingapore dollars thousands | – | PDF p. 59 |
| Net cash inflow from the First REIT transactionSingapore dollars thousands | – | PDF p. 59 |
| Net cash inflow from disposal of a subsidiarySingapore dollars thousands | – | PDF p. 59 |
| Loans to joint venturesSingapore dollars thousands | (9,103) | PDF p. 59 |
| Repayment of loan from joint ventureSingapore dollars thousands | 2,925 | PDF p. 59 |
| Repayment of advance to joint venture partnerSingapore dollars thousands | – | PDF p. 59 |
| Interest receivedSingapore dollars thousands | 584 | PDF p. 59 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (954) | PDF p. 59 |
| Net cash from/(used in) investing activitiesSingapore dollars thousands | (29,966) | PDF p. 59 |
| Cash flows from financing activities | ||
| Proceeds from borrowingsSingapore dollars thousands | 15,000 | PDF p. 59 |
| Repayment of borrowingsSingapore dollars thousands | (9,194) | PDF p. 59 |
| Payment of lease liabilitiesSingapore dollars thousands | (665) | PDF p. 59 |
| Loan from a fellow subsidiarySingapore dollars thousands | – | PDF p. 59 |
| Perpetual securities redemption, distribution and gain on redemption, net transaction costs by a subsidiarySingapore dollars thousands | – | PDF p. 59 |
| Distribution to perpetual securities holders by a subsidiarySingapore dollars thousands | – | PDF p. 59 |
| Dividend and distribution to unitholders by a subsidiarySingapore dollars thousands | – | PDF p. 59 |
| Payment of transaction costs related to loans and borrowingsSingapore dollars thousands | – | PDF p. 59 |
| Interest paidSingapore dollars thousands | (3,111) | PDF p. 59 |
| Net cash (used in)/from financing activitiesSingapore dollars thousands | 2,030 | PDF p. 59 |
Original report: PDF p. 59 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Group cash flows | ||
| Net increase/(decrease) in cash and cash equivalentsSingapore dollars thousands | (23,845) | PDF p. 59 |
| Cash and cash equivalents at beginning of financial yearSingapore dollars thousands | 68,973 | PDF p. 59 |
| Effect of exchange rate fluctuations on cash and cash equivalentsSingapore dollars thousands | (1,305) | PDF p. 59 |
| Cash and cash equivalents at end of financial yearSingapore dollars thousands | 43,823 | PDF p. 59 |
Original report: PDF p. 59 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Basic EPS profit numerator | ||
| Net profit attributable to owners of the CompanySingapore dollars thousands | 111,378 | PDF p. 97 |
Original report: PDF p. 97 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Basic EPS weighted ordinary shares | ||
| Weighted average number of ordinary shares during the yearShares thousands | 4,443,129 | PDF p. 97 |
Original report: PDF p. 97 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Diluted EPS profit numerator | ||
| Net profit attributable to owners of the CompanySingapore dollars thousands | 111,378 | PDF p. 97 |
Original report: PDF p. 97 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year1January–31December2021 | Source |
|---|---|---|
| Diluted EPS weighted ordinary shares and conversion effect | ||
| Ordinary share issued at the reporting dateShares thousands | 4,443,129 | PDF p. 97 |
| Effect of conversion of convertible perpetual securities into ordinary sharesShares thousands | 2,159,524 | PDF p. 97 |
| Weighted average number of ordinary shares during the yearShares thousands | 6,602,653 | PDF p. 97 |
Original report: PDF p. 97 ↗
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
Where the money comes from
| Item / unit | 2025Healthcare operations | 2025Healthcare assets | 2025Properties under development | 2025Investments | 2025Others | 2025Total | 2024Healthcare operations | 2024Healthcare assets | 2024Properties under development | 2024Investments | 2024Others | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||
| External revenue$’000 | 51,857 | 100,531 | – | – | – | 152,388 | 48,066 | 102,211 | – | – | – | 150,277 | PDF p. 225PDF p. 226 |
| Inter-segment revenue$’000 | – | – | – | – | 660 | 660 | – | – | – | – | 933 | 933 | PDF p. 225PDF p. 226 |
| Results | |||||||||||||
| Segment profit/(loss) before tax$’000 | 166 | 42,031 | (5,412) | (1,959) | (11,376) | 23,450 | 3,754 | 49,520 | (5,045) | 3,014 | (10,649) | 40,594 | PDF p. 225PDF p. 226 |
| Depreciation$’000 | (2,514) | (54) | – | – | (380) | (2,948) | (1,835) | (51) | – | – | (382) | (2,268) | PDF p. 225PDF p. 226 |
| Interest expense$’000 | (1,643) | (20,900) | – | – | (1,474) | (24,017) | (2,994) | (22,773) | – | – | (2,651) | (28,418) | PDF p. 225PDF p. 226 |
| Interest income$’000 | 206 | 269 | – | – | 63 | 538 | 194 | 362 | 22 | – | 106 | 684 | PDF p. 225PDF p. 226 |
| Loss on disposal of a subsidiary$’000 | – | (7,535) | – | – | – | (7,535) | PDF p. 225 | ||||||
| Assets | |||||||||||||
| Reportable segment assets$’000 | 173,957 | 1,091,568 | 5,514 | 36,811 | 10,737 | 1,318,587 | 162,794 | 1,164,277 | 10,948 | 36,958 | 23,540 | 1,398,517 | PDF p. 225PDF p. 226 |
| Additions to | |||||||||||||
| - Property, plant and equipment$’000 | 4,729 | – | – | – | – | 4,729 | 2,145 | 74 | – | – | 7 | 2,226 | PDF p. 225PDF p. 226 |
| - Investment properties$’000 | – | 3,746 | – | – | – | 3,746 | – | 5,859 | – | – | – | 5,859 | PDF p. 225PDF p. 226 |
| Liabilities | |||||||||||||
| Reportable segment liabilities$’000 | 22,371 | 480,633 | 1,213 | – | 110,714 | 614,931 | 78,237 | 478,126 | 1,333 | – | 53,166 | 610,862 | PDF p. 225PDF p. 226 |
Blank values mean no segment cell printed; only the Total column is printed for tax liabilities. Total liabilities line printed as 664,654.
Blank values mean only the Total column is printed. Total liabilities line printed as 664,035. Other items (held-for-sale losses, disposal gain, equity-accounted share of results, fair value items) not extracted.
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Revenue | |||
| Total revenue for reportable segments$’000 | 152,388 | 150,277 | PDF p. 227 |
| Revenue for other segment$’000 | 660 | 933 | PDF p. 227 |
| Elimination of inter-segment revenue$’000 | (660) | (933) | PDF p. 227 |
| Consolidated total revenue$’000 | 152,388 | 150,277 | PDF p. 227 |
| Profit or loss – Total profit before tax for | |||
| - Reportable segments$’000 | 34,826 | 51,243 | PDF p. 227 |
| - Other segment$’000 | (11,376) | (10,649) | PDF p. 227 |
| Profit or loss | |||
| Consolidated profit before tax$’000 | 23,450 | 40,594 | PDF p. 227 |
| Assets | |||
| Total assets for reportable segments$’000 | 1,307,850 | 1,374,977 | PDF p. 227 |
| Assets for other segments$’000 | 10,737 | 23,540 | PDF p. 227 |
| Consolidated total assets$’000 | 1,318,587 | 1,398,517 | PDF p. 227 |
| Liabilities | |||
| Total liabilities for reportable segments$’000 | 504,217 | 557,696 | PDF p. 227 |
| Liabilities for other segments$’000 | 110,714 | 53,166 | PDF p. 227 |
| Liabilities – Other unallocated amounts | |||
| - Current tax liabilities$’000 | 2,682 | 3,290 | PDF p. 227 |
| - Deferred tax liabilities$’000 | 47,041 | 49,883 | PDF p. 227 |
| Liabilities | |||
| Consolidated total liabilities$’000 | 664,654 | 664,035 | PDF p. 227 |
| Item / unit | 2025Group revenue by geography | 2024Group revenue by geography | Source |
|---|---|---|---|
| Revenue | |||
| Japan$’000 | 13,354 | 13,392 | PDF p. 228 |
| PRC$’000 | 4,179 | 3,875 | PDF p. 228 |
| Singapore$’000 | 51,909 | 48,433 | PDF p. 228 |
| Indonesia$’000 | 82,946 | 84,577 | PDF p. 228 |
Total row printed without label: 152,388 and 150,277. Major customer: revenues from top two (2024: two) customers of the healthcare assets segment approximately $77,448,000 (2024: $78,772,000).
| Item / unit | 2025Group non-current assets by geography | 2024Group non-current assets by geography | Source |
|---|---|---|---|
| Non-current assets | |||
| Japan$’000 | 231,952 | 247,711 | PDF p. 228 |
| PRC$’000 | 38,580 | 44,707 | PDF p. 228 |
| Singapore$’000 | 153,885 | 156,168 | PDF p. 228 |
| Myanmar$’000 | 15,837 | 15,370 | PDF p. 228 |
| Indonesia$’000 | 762,017 | 839,897 | PDF p. 228 |
| US$’000 | 2,581 | 2,697 | PDF p. 228 |
| Sri Lanka$’000 | 232 | 331 | PDF p. 228 |
Total row printed without label: 1,205,084 and 1,306,881.
* Non-current assets relate to the carrying amounts of property, plant and equipment, intangible assets and goodwill, investment properties, investment properties under development, associate and joint ventures, other investment and trade and other receivables.
Debt
| Item / unit | 2025Company: Currency; Nominal interest rate; Year of maturity; Face value $'000; Carrying amount $'000 | 2024Company 2024 rows below: same field order | Source |
|---|---|---|---|
| Company 2025 | |||
| Total Company 2025 (unlabelled)$'000 | 82,500 | 82,277 | PDF p. 187 |
| Company 2024 | |||
| Total Company 2024 (unlabelled)$'000 | 25,000 | 24,951 | PDF p. 187 |
Company 2025 also lists Committed term loan A SGD Sora + 1.50% 2027 15,000 14,974 (identical text to Group row). Company 2024: Committed term loan A SGD Sora + 1.50% 2027 15,000 14,951 and Uncommitted RSTL SGD Sora + 1.50% 2025 10,000 10,000.
* Annual installment with final installment in 2030 (applies to Group rows).
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Current | |||||
| Secured Tokutei Mokuteki Kaisha (“TMK”) Bonds B and Term loan C$'000 | 830 | 880 | – | – | PDF p. 182 |
| Social term loan A$'000 | 246,123 | – | – | – | PDF p. 182 |
| Social term loan B$'000 | 13,728 | – | – | – | PDF p. 182 |
| Secured term loan A$'000 | – | 56,855 | – | – | PDF p. 182 |
| Uncommitted revolving short-term loan (“RSTL”)$'000 | – | 10,000 | – | 10,000 | PDF p. 182 |
| Total current loans and borrowings (unlabelled subtotal)$'000 | 260,681 | 67,735 | – | 10,000 | PDF p. 182 |
Subtotal row has no printed label. RSTL label wraps over two lines; values row is '– 10,000 – 10,000' after the '(“RSTL”)' line.
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Non-current | |||||
| Secured TMK Bonds B and Term loan C$'000 | 95,410 | 101,722 | – | – | PDF p. 183 |
| Guaranteed bonds$'000 | 98,757 | 97,762 | – | – | PDF p. 183 |
| Social term loan A$'000 | – | 238,632 | – | – | PDF p. 183 |
| Social term loan B$'000 | – | 14,486 | – | – | PDF p. 183 |
| Secured term loan B$'000 | 59,846 | – | 59,846 | – | PDF p. 183 |
| Committed term loan A$'000 | 14,974 | – | 14,974 | – | PDF p. 183 |
| Committed term loan B$'000 | 7,457 | 14,951 | 7,457 | 14,951 | PDF p. 183 |
| Total non-current loans and borrowings (unlabelled subtotal)$'000 | 276,444 | 467,553 | 82,277 | 14,951 | PDF p. 183 |
| Total | |||||
| Total loans and borrowings$'000 | 537,125 | 535,288 | 82,277 | 24,951 | PDF p. 183 |
Total borrowings include secured liabilities of $537,125,000 (2024: $535,288,000) and $82,277,000 (2024: $24,951,000) of the Group and the Company respectively.
Social term loan A drawn $247 million (2024: $241 million), repayable in May 2026, floating rates repriced at intervals of 3 months or less. Guaranteed bonds $100 million 3.25% due April 2027. TMK Bonds B (JPY2 billion) and Term loan C (JPY9.75 billion outstanding) due June 2030. Social term loan B due 27 September 2026.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company has adopted a dividend policy, under which the Board would consider the Group’s earnings, financial position, results of operations, capital needs, plans for expansion and any other appropriate factors before deciding on the form, frequency and amount of dividends to declare. | Company FY2025 | PDF p. 110 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| No dividend for FY2025 | no dividend was recommended or declared for FY2025 | Company FY2025 | PDF p. 110 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | KPMG LLP | Group | PDF p. 120 |
| Engagement partner | Ong Li Qin | Group | PDF p. 120 |
| 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 | PDF p. 116 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of investment properties and investment properties under development | These investment properties and investment properties under development are stated at fair value based on independent external valuations. | Group | PDF p. 116 |
| Impairment assessment of investments in associate and joint ventures | Equity-accounted investments are tested for impairment when there are indicators of a possible impairment. | Group | PDF p. 117 |
Extracted from ANNUAL REPORT 2025 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Five official annual originals FY2021–FY2025,1061pages, are archived. All five financial years end31December and cover12months. Latest available comparative presentation:2025annual supplies2025/2024;2024annual supplies2023;2023annual supplies2022;2022annual supplies2021. FY2021original contains restatedFY2020 and1January2020 comparatives, not additional newly audited2025periods.
Financial statements are Singapore dollars thousands; EPS is Singapore cents per share. Group profit or loss/comprehensive income, changes in equity and cash flows, and Group/Company financial position are printed. Separate Company primary profit or loss, equity and cash flow statements are not printed; absence of a separate statement does not mean zero Company activity.
Convertible perpetual securities are classified as equity: no contractual principal repayment or distribution obligation; coupon4%, discretionary distributions, no maturity; holder conversion atS$0.07 on/after31August2026. Their equity carrying value79,635thousand differs from the conversion share calculation.
Original FY2025/FY2024 diluted losses per share (0.24)/(0.08)cents are retained exactly as disclosed, separately from basic (0.38)/(0.14)cents. Note30 uses7,151,810thousand diluted shares versus4,443,129thousand basic shares. Do not replace printed diluted figures with a calculated alternative or assert an unprinted accounting explanation.
First REIT is consolidated despite effective interest32.1%(2024:32.4%) on the disclosed de-facto control assessment. NCI and owners amounts remain separate; Group profit8,574thousand coexists with owners loss16,873thousand in2025.
Printed dash is retained as dash; standalone asterisk denotes less thanS$1,000, not exact zero. Genuine blank cells remain empty.
FY2021 includes a one-off shareholder-loan conversion gainS$109,973,000 in other income, not recurring revenue. Original principalS$189,607,700 was exchanged for convertible perpetual securities with fair valueS$79,635,000 on16March2021; the difference rounds to the printed gain. Historical equity and profit retain that source accounting.
Note2 reports Group net current liabilitiesS$206,469,000 at31December2025. The original annual also discloses a subsequentS$242,601,000loan extension fromMay2026 toMay2027 and preparation on a going concern basis. The extension is a subsequent event, not a rewrite of year-end current liabilities.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.