MoneyMax Fin 5WJ
Financials
annual report
Explore the statements
48 tablesGroup profit or loss and comprehensive income
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Group profit or loss and comprehensive income | |||
| RevenueSingapore dollars thousands | 541,943 | 390,068 | PDF p. 70 |
| Other income and gainsSingapore dollars thousands | 1,992 | 1,819 | PDF p. 70 |
| Material costsSingapore dollars thousands | (336,454) | (243,916) | PDF p. 70 |
| Employee benefits expenseSingapore dollars thousands | (44,273) | (34,881) | PDF p. 70 |
| Depreciation and amortisation expenseSingapore dollars thousands | (13,316) | (12,211) | PDF p. 70 |
| Other lossesSingapore dollars thousands | (3,087) | (2,203) | PDF p. 70 |
| Finance costsSingapore dollars thousands | (33,828) | (31,068) | PDF p. 70 |
| Other expensesSingapore dollars thousands | (17,132) | (15,053) | PDF p. 70 |
| Profit before income taxSingapore dollars thousands | 95,845 | 52,555 | PDF p. 70 |
| Income tax expenseSingapore dollars thousands | (19,568) | (10,910) | PDF p. 70 |
| Profit for the yearSingapore dollars thousands | 76,277 | 41,645 | PDF p. 70 |
| Items that may be reclassified subsequently to profit or loss: | |||
| Exchange differences on translating foreign operations, net of taxSingapore dollars thousands | 3,679 | 3,827 | PDF p. 70 |
| Cash flow hedges, net of taxSingapore dollars thousands | (82) | (359) | PDF p. 70 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | 3,597 | 3,468 | PDF p. 70 |
| Total comprehensive incomeSingapore dollars thousands | 79,874 | 45,113 | PDF p. 70 |
| Profit for the year attributable to: | |||
| Owners of the parentSingapore dollars thousands | 71,686 | 38,216 | PDF p. 70 |
| Non-controlling interestsSingapore dollars thousands | 4,591 | 3,429 | PDF p. 70 |
| SubtotalSingapore dollars thousands | 76,277 | 41,645 | PDF p. 70 |
| Total comprehensive income attributable to: | |||
| Owners of the parentSingapore dollars thousands | 75,283 | 41,684 | PDF p. 70 |
| Non-controlling interestsSingapore dollars thousands | 4,591 | 3,429 | PDF p. 70 |
| SubtotalSingapore dollars thousands | 79,874 | 45,113 | PDF p. 70 |
| Earnings per share | |||
| Basic and dilutedSingapore cents per share | 8.10 | 4.32 | PDF p. 70 |
Definitions & sources
Original report: PDF p. 70 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group cash flows
41 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before income taxSingapore dollars thousands | 95,845 | 52,555 | PDF p. 74 |
| Adjustments for: | |||
| Interest expenseSingapore dollars thousands | 33,828 | 31,068 | PDF p. 74 |
| Dividend incomeSingapore dollars thousands | (100) | (106) | PDF p. 74 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,864 | 2,718 | PDF p. 74 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 10,413 | 9,453 | PDF p. 74 |
| Amortisation of intangible assetsSingapore dollars thousands | 39 | 40 | PDF p. 74 |
| Gains on retirement of right-of-use assetsSingapore dollars thousands | (1) | (44) | PDF p. 74 |
| Fair value loss on other financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars thousands | – | 800 | PDF p. 74 |
| Interest income from keyman life insurance policySingapore dollars thousands | (20) | – | PDF p. 74 |
| Loss on disposal / write-off of property, plant and equipmentSingapore dollars thousands | 2 | 2 | PDF p. 74 |
| Loss on disposal of subsidiariesSingapore dollars thousands | 7 | 5 | PDF p. 74 |
| Allowance for expected credit lossesSingapore dollars thousands | 2,152 | 1,226 | PDF p. 74 |
| Bad debts written offSingapore dollars thousands | 614 | – | PDF p. 74 |
| (Write back) / allowance for inventory obsolescenceSingapore dollars thousands | (29) | 127 | PDF p. 74 |
| Net effect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands | 7,896 | 7,955 | PDF p. 74 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 153,510 | 105,799 | PDF p. 74 |
| InventoriesSingapore dollars thousands | (49,802) | (16,157) | PDF p. 74 |
| Trade and other receivablesSingapore dollars thousands | (248,234) | (150,455) | PDF p. 74 |
| Other assetsSingapore dollars thousands | (2,431) | (56) | PDF p. 74 |
| Trade and other payablesSingapore dollars thousands | (20,906) | (3,519) | PDF p. 74 |
| Other liabilitiesSingapore dollars thousands | 1,272 | 1,103 | PDF p. 74 |
| Net cash flows used in operationsSingapore dollars thousands | (166,591) | (63,285) | PDF p. 74 |
| Income taxes paidSingapore dollars thousands | (11,384) | (7,921) | PDF p. 74 |
| Net cash used in operating activitiesSingapore dollars thousands | (177,975) | (71,206) | PDF p. 74 |
| Cash flows from investing activities | |||
| Purchase of property, plant and equipment (Notes 13 and 21B)Singapore dollars thousands | (1,617) | (1,807) | PDF p. 74 |
| Acquisition of intangible assets (Note 15C)Singapore dollars thousands | – | (196) | PDF p. 74 |
| Dividend from other financial assets at FVTPLSingapore dollars thousands | 100 | 106 | PDF p. 74 |
| Payments for acquisition of subsidiaries (Note 30)Singapore dollars thousands | (1,204) | (433) | PDF p. 74 |
| Net cash outflow on disposal of subsidiaries (Note 29)Singapore dollars thousands | (500) | (2) | PDF p. 74 |
| Net cash used in investing activitiesSingapore dollars thousands | (3,221) | (2,332) | PDF p. 74 |
| Cash flows from financing activities | |||
| Proceeds from loans and borrowingsSingapore dollars thousands | 591,826 | 418,895 | PDF p. 74 |
| Loans and borrowings paidSingapore dollars thousands | (356,651) | (294,383) | PDF p. 74 |
| Payments of principal portion of lease liabilitiesSingapore dollars thousands | (10,479) | (9,476) | PDF p. 74 |
| Repayments of finance lease liabilitiesSingapore dollars thousands | (79) | (85) | PDF p. 74 |
| Cash restricted in useSingapore dollars thousands | (406) | – | PDF p. 74 |
| Interest expense paidSingapore dollars thousands | (32,160) | (30,748) | PDF p. 74 |
| Dividends paidSingapore dollars thousands | (6,192) | (4,422) | PDF p. 74 |
| Net cash provided by financing activitiesSingapore dollars thousands | 185,859 | 79,781 | PDF p. 74 |
| Net increase in cash and cash equivalentsSingapore dollars thousands | 4,663 | 6,243 | PDF p. 74 |
| Cash and cash equivalents, statement of cash flows, beginning balanceSingapore dollars thousands | 18,669 | 12,426 | PDF p. 74 |
| Cash and cash equivalents in statement of cash flows, ending balance (Note 21A)Singapore dollars thousands | 23,332 | 18,669 | PDF p. 74 |
Definitions & sources
Original report: PDF p. 74 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 22,049 | 22,542 | PDF p. 71 |
| Right-of-use assetsSingapore dollars thousands | 13,891 | 16,110 | PDF p. 71 |
| Intangible assetsSingapore dollars thousands | 5,582 | 5,392 | PDF p. 71 |
| Investments in subsidiariesSingapore dollars thousands | – | – | PDF p. 71 |
| Deferred tax assetsSingapore dollars thousands | 35 | 129 | PDF p. 71 |
| Other financial assets, non-currentSingapore dollars thousands | 6,371 | 6,259 | PDF p. 71 |
| Trade and other receivables, non-currentSingapore dollars thousands | 169,873 | 158,748 | PDF p. 71 |
| Other assets, non-currentSingapore dollars thousands | 5,079 | 3,506 | PDF p. 71 |
| Total non-current assetsSingapore dollars thousands | 222,880 | 212,686 | PDF p. 71 |
| Current assets | |||
| InventoriesSingapore dollars thousands | 134,509 | 84,677 | PDF p. 71 |
| Derivative financial instruments, currentSingapore dollars thousands | – | 30 | PDF p. 71 |
| Trade and other receivables, currentSingapore dollars thousands | 840,958 | 594,741 | PDF p. 71 |
| Other assets, currentSingapore dollars thousands | 8,574 | 7,601 | PDF p. 71 |
| Cash and cash equivalentsSingapore dollars thousands | 28,430 | 25,327 | PDF p. 71 |
| Total current assetsSingapore dollars thousands | 1,012,471 | 712,376 | PDF p. 71 |
| Total assetsSingapore dollars thousands | 1,235,351 | 925,062 | PDF p. 71 |
| Equity | |||
| Share capitalSingapore dollars thousands | 56,144 | 56,144 | PDF p. 71 |
| Retained earningsSingapore dollars thousands | 192,713 | 127,219 | PDF p. 71 |
| Other reservesSingapore dollars thousands | 4,088 | 491 | PDF p. 71 |
| Equity attributable to owners of the parentSingapore dollars thousands | 252,945 | 183,854 | PDF p. 71 |
| Non-controlling interestsSingapore dollars thousands | 19,607 | 15,469 | PDF p. 71 |
| Total equitySingapore dollars thousands | 272,552 | 199,323 | PDF p. 71 |
| Non-current liabilities | |||
| Trade and other payables, non-currentSingapore dollars thousands | 6,833 | – | PDF p. 71 |
| Other financial liabilities, non-currentSingapore dollars thousands | 218,885 | 102,224 | PDF p. 71 |
| Lease liabilities, non-currentSingapore dollars thousands | 4,878 | 6,511 | PDF p. 71 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | 37 | PDF p. 71 |
| Deferred tax liabilitiesSingapore dollars thousands | 154 | 160 | PDF p. 71 |
| Total non-current liabilitiesSingapore dollars thousands | 230,750 | 108,932 | PDF p. 71 |
| Current liabilities | |||
| Income tax payableSingapore dollars thousands | 15,098 | 6,927 | PDF p. 71 |
| Trade and other payables, currentSingapore dollars thousands | 52,730 | 67,354 | PDF p. 71 |
| Derivative financial instruments, currentSingapore dollars thousands | 104 | – | PDF p. 71 |
| Other financial liabilities, currentSingapore dollars thousands | 649,687 | 528,708 | PDF p. 71 |
| Lease liabilities, currentSingapore dollars thousands | 9,608 | 10,326 | PDF p. 71 |
| Other liabilitiesSingapore dollars thousands | 4,822 | 3,492 | PDF p. 71 |
| Total current liabilitiesSingapore dollars thousands | 732,049 | 616,807 | PDF p. 71 |
| Total liabilitiesSingapore dollars thousands | 962,799 | 725,739 | PDF p. 71 |
| Total equity and liabilitiesSingapore dollars thousands | 1,235,351 | 925,062 | PDF p. 71 |
Definitions & sources
Original report: PDF p. 71 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company financial position
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 6 | – | PDF p. 71 |
| Right-of-use assetsSingapore dollars thousands | – | – | PDF p. 71 |
| Intangible assetsSingapore dollars thousands | – | – | PDF p. 71 |
| Investments in subsidiariesSingapore dollars thousands | 152,355 | 138,755 | PDF p. 71 |
| Deferred tax assetsSingapore dollars thousands | – | – | PDF p. 71 |
| Other financial assets, non-currentSingapore dollars thousands | 5,963 | 5,879 | PDF p. 71 |
| Trade and other receivables, non-currentSingapore dollars thousands | – | – | PDF p. 71 |
| Other assets, non-currentSingapore dollars thousands | – | – | PDF p. 71 |
| Total non-current assetsSingapore dollars thousands | 158,324 | 144,634 | PDF p. 71 |
| Current assets | |||
| InventoriesSingapore dollars thousands | – | – | PDF p. 71 |
| Derivative financial instruments, currentSingapore dollars thousands | – | – | PDF p. 71 |
| Trade and other receivables, currentSingapore dollars thousands | 8,983 | 17,462 | PDF p. 71 |
| Other assets, currentSingapore dollars thousands | 59 | 159 | PDF p. 71 |
| Cash and cash equivalentsSingapore dollars thousands | 524 | 541 | PDF p. 71 |
| Total current assetsSingapore dollars thousands | 9,566 | 18,162 | PDF p. 71 |
| Total assetsSingapore dollars thousands | 167,890 | 162,796 | PDF p. 71 |
| Equity | |||
| Share capitalSingapore dollars thousands | 56,144 | 56,144 | PDF p. 71 |
| Retained earningsSingapore dollars thousands | 28,429 | 16,241 | PDF p. 71 |
| Other reservesSingapore dollars thousands | – | – | PDF p. 71 |
| Equity attributable to owners of the parentSingapore dollars thousands | 84,573 | 72,385 | PDF p. 71 |
| Non-controlling interestsSingapore dollars thousands | – | – | PDF p. 71 |
| Total equitySingapore dollars thousands | 84,573 | 72,385 | PDF p. 71 |
| Non-current liabilities | |||
| Trade and other payables, non-currentSingapore dollars thousands | 6,833 | – | PDF p. 71 |
| Other financial liabilities, non-currentSingapore dollars thousands | – | 639 | PDF p. 71 |
| Lease liabilities, non-currentSingapore dollars thousands | – | – | PDF p. 71 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | – | PDF p. 71 |
| Deferred tax liabilitiesSingapore dollars thousands | – | – | PDF p. 71 |
| Total non-current liabilitiesSingapore dollars thousands | 6,833 | 639 | PDF p. 71 |
| Current liabilities | |||
| Income tax payableSingapore dollars thousands | 127 | – | PDF p. 71 |
| Trade and other payables, currentSingapore dollars thousands | 45,058 | 26,863 | PDF p. 71 |
| Derivative financial instruments, currentSingapore dollars thousands | – | – | PDF p. 71 |
| Other financial liabilities, currentSingapore dollars thousands | 31,299 | 62,909 | PDF p. 71 |
| Lease liabilities, currentSingapore dollars thousands | – | – | PDF p. 71 |
| Other liabilitiesSingapore dollars thousands | – | – | PDF p. 71 |
| Total current liabilitiesSingapore dollars thousands | 76,484 | 89,772 | PDF p. 71 |
| Total liabilitiesSingapore dollars thousands | 83,317 | 90,411 | PDF p. 71 |
| Total equity and liabilitiesSingapore dollars thousands | 167,890 | 162,796 | PDF p. 71 |
Definitions & sources
Original report: PDF p. 71 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group changes in equity / 2025
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 / Total equity | 2025Group / year ended December31, 2025 / Attributable to parent sub-total | 2025Group / year ended December31, 2025 / Share capital | 2025Group / year ended December31, 2025 / Retained earnings | 2025Group / year ended December31, 2025 / Other reserves | 2025Group / year ended December31, 2025 / Non-controlling interests | Source |
|---|---|---|---|---|---|---|---|
| Current year: | |||||||
| Opening balance at 1 January 2025Singapore dollars thousands | 199,323 | 183,854 | 56,144 | 127,219 | 491 | 15,469 | PDF p. 72 |
| Changes in equity: | |||||||
| Total comprehensive income for the yearSingapore dollars thousands | 79,874 | 75,283 | – | 71,686 | 3,597 | 4,591 | PDF p. 72 |
| Dividends paid (Note 12)Singapore dollars thousands | (6,192) | (6,192) | – | (6,192) | – | – | PDF p. 72 |
| Disposal of subsidiary (Note 29)Singapore dollars thousands | (453) | – | – | – | – | (453) | PDF p. 72 |
| Closing balance at 31 December 2025Singapore dollars thousands | 272,552 | 252,945 | 56,144 | 192,713 | 4,088 | 19,607 | PDF p. 72 |
Definitions & sources
Original report: PDF p. 72 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group changes in equity / 2024
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / year ended December31, 2024 / Total equity | 2024Group / year ended December31, 2024 / Attributable to parent sub-total | 2024Group / year ended December31, 2024 / Share capital | 2024Group / year ended December31, 2024 / Retained earnings | 2024Group / year ended December31, 2024 / Other reserves | 2024Group / year ended December31, 2024 / Non-controlling interests | Source |
|---|---|---|---|---|---|---|---|
| Previous year: | |||||||
| Opening balance at 1 January 2024Singapore dollars thousands | 158,732 | 146,592 | 56,144 | 93,425 | (2,977) | 12,140 | PDF p. 72 |
| Changes in equity: | |||||||
| Total comprehensive income for the yearSingapore dollars thousands | 45,113 | 41,684 | – | 38,216 | 3,468 | 3,429 | PDF p. 72 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,422) | (4,422) | – | (4,422) | – | – | PDF p. 72 |
| Investment in a subsidiary by non-controlling interestsSingapore dollars thousands | (100) | – | – | – | – | (100) | PDF p. 72 |
| Closing balance at 31 December 2024Singapore dollars thousands | 199,323 | 183,854 | 56,144 | 127,219 | 491 | 15,469 | PDF p. 72 |
Definitions & sources
Original report: PDF p. 72 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company changes in equity / 2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year ended December31, 2025 / Total equity | 2025Company / year ended December31, 2025 / Share capital | 2025Company / year ended December31, 2025 / Retained earnings | Source |
|---|---|---|---|---|
| Current year: | ||||
| Opening balance at 1 January 2025Singapore dollars thousands | 72,385 | 56,144 | 16,241 | PDF p. 73 |
| Changes in equity: | ||||
| Total comprehensive income for the yearSingapore dollars thousands | 18,380 | – | 18,380 | PDF p. 73 |
| Dividends paid (Note 12)Singapore dollars thousands | (6,192) | – | (6,192) | PDF p. 73 |
| Closing balance at 31 December 2025Singapore dollars thousands | 84,573 | 56,144 | 28,429 | PDF p. 73 |
Definitions & sources
Original report: PDF p. 73 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company changes in equity / 2024
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company / year ended December31, 2024 / Total equity | 2024Company / year ended December31, 2024 / Share capital | 2024Company / year ended December31, 2024 / Retained earnings | Source |
|---|---|---|---|---|
| Previous year: | ||||
| Opening balance at 1 January 2024Singapore dollars thousands | 65,206 | 56,144 | 9,062 | PDF p. 73 |
| Changes in equity: | ||||
| Total comprehensive income for the yearSingapore dollars thousands | 11,601 | – | 11,601 | PDF p. 73 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,422) | – | (4,422) | PDF p. 73 |
| Closing balance at 31 December 2024Singapore dollars thousands | 72,385 | 56,144 | 16,241 | PDF p. 73 |
Definitions & sources
Original report: PDF p. 73 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Original five-year Group financial highlights
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | 2022Group / year ended December31, 2022 | 2023Group / year ended December31, 2023 | 2024Group / year ended December31, 2024 | 2025Group / year ended December31, 2025 | Source |
|---|---|---|---|---|---|---|
| Original five-year highlights | ||||||
| RevenueSingapore dollars thousands | 199,217 | 253,491 | 285,682 | 390,068 | 541,943 | PDF p. 9 |
| Profit before taxSingapore dollars thousands | 25,447 | 29,745 | 32,031 | 52,555 | 95,845 | PDF p. 9 |
| Profit net of taxSingapore dollars thousands | 21,126 | 23,783 | 25,176 | 41,645 | 76,277 | PDF p. 9 |
| Profit attributable to owners of the parentSingapore dollars thousands | 19,805 | 22,052 | 22,667 | 38,216 | 71,686 | PDF p. 9 |
| Net asset value attributable to owners of the parentSingapore dollars thousands | 113,375 | 131,227 | 146,592 | 183,854 | 252,945 | PDF p. 9 |
| Net margin (%)Percent | 10.6 | 9.4 | 8.8 | 10.7 | 14.1 | PDF p. 9 |
| Return on shareholders' equity (%)¹Percent | 18.8 | 18.0 | 16.3 | 23.1 | 32.8 | PDF p. 9 |
| Earnings per share (S$ cents)²Singapore cents per share | 2.24 | 2.49 | 2.56 | 4.32 | 8.10 | PDF p. 9 |
| Net asset value per ordinary share (S$ cents)²Singapore cents per share | 12.82 | 14.84 | 16.57 | 20.79 | 28.60 | PDF p. 9 |
| Dividend per ordinary share (S$ cents)Singapore cents per share | 0.95 | 1.00 | 1.00 | 1.40 | 2.00 | PDF p. 9 |
| Dividend payout ratio (%)³Percent | 21.2 | 20.1 | 19.5 | 16.2 | 24.7 | PDF p. 9 |
Definitions & sources
Original report: PDF p. 9 ↗
ROE equals owner profit divided by average owner equity. Net margin equals net profit including NCI/revenue. Prior EPS and NAV per share are adjusted to the2025bonus share base. Prior dividends retain historical per-share bases, so pre2025payout ratios cannot simply divide printed dividend by the bonus-adjusted EPS.
Segment revenue results assets and other information / 2025
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Pawnbroking | 2025Group / Retail and trading of gold and luxury items | 2025Group / Secured lending | 2025Group / Others | 2025Group / Elimination | 2025Group / Group | Source |
|---|---|---|---|---|---|---|---|
| Segment original results | |||||||
| Revenue by segment Revenue from external customersSingapore dollars thousands | 97,125 | 420,143 | 24,252 | 423 | – | 541,943 | PDF p. 89 |
| Inter-segment salesSingapore dollars thousands | 40,829 | – | – | – | (40,829) | – | PDF p. 89 |
| Results Segment resultsSingapore dollars thousands | 60,742 | 53,391 | 16,499 | 25,854 | (26,813) | 129,673 | PDF p. 89 |
| Finance costsSingapore dollars thousands | (18,784) | (2,540) | (9,758) | (6,538) | 3,792 | (33,828) | PDF p. 89 |
| Profit before income taxSingapore dollars thousands | 41,958 | 50,851 | 6,741 | 19,316 | (23,021) | 95,845 | PDF p. 89 |
| Income tax expenseSingapore dollars thousands | (8,694) | (9,668) | (971) | (235) | – | (19,568) | PDF p. 89 |
| Profit, net of taxSingapore dollars thousands | 33,264 | 41,183 | 5,770 | 19,081 | (23,021) | 76,277 | PDF p. 89 |
| Segment assetsSingapore dollars thousands | 790,041 | 164,081 | 277,679 | 245,341 | (241,826) | 1,235,316 | PDF p. 89 |
| Segment liabilitiesSingapore dollars thousands | 576,309 | 85,231 | 224,850 | 251,716 | (190,559) | 947,547 | PDF p. 89 |
| Capital expenditureSingapore dollars thousands | 997 | 641 | 25 | 26 | – | 1,689 | PDF p. 89 |
| Depreciation and amortisationSingapore dollars thousands | 4,584 | 8,237 | 26 | 469 | – | 13,316 | PDF p. 89 |
Definitions & sources
Original report: PDF p. 89 ↗
Segment unallocated and Group totals / 2025
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group total | Source |
|---|---|---|
| Segment original results | ||
| Unallocated assetsSingapore dollars thousands | 35 | PDF p. 89 |
| Total assetsSingapore dollars thousands | 1,235,351 | PDF p. 89 |
| Unallocated liabilitiesSingapore dollars thousands | 15,252 | PDF p. 89 |
| Total liabilitiesSingapore dollars thousands | 962,799 | PDF p. 89 |
Definitions & sources
Original report: PDF p. 89 ↗
Segment revenue results assets and other information / 2024
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Pawnbroking | 2024Group / Retail and trading of gold and luxury items | 2024Group / Secured lending | 2024Group / Others | 2024Group / Elimination | 2024Group / Group | Source |
|---|---|---|---|---|---|---|---|
| Segment original results | |||||||
| Revenue by segment Revenue from external customersSingapore dollars thousands | 66,415 | 294,482 | 28,616 | 555 | – | 390,068 | PDF p. 90 |
| Inter-segment salesSingapore dollars thousands | 33,072 | – | 5 | – | (33,077) | – | PDF p. 90 |
| Results Segment resultsSingapore dollars thousands | 37,029 | 27,466 | 20,669 | 14,850 | (16,391) | 83,623 | PDF p. 90 |
| Finance costsSingapore dollars thousands | (14,931) | (2,743) | (10,457) | (4,400) | 1,463 | (31,068) | PDF p. 90 |
| Profit before income taxSingapore dollars thousands | 22,098 | 24,723 | 10,212 | 10,450 | (14,928) | 52,555 | PDF p. 90 |
| Income tax expenseSingapore dollars thousands | (4,421) | (4,802) | (1,603) | (84) | – | (10,910) | PDF p. 90 |
| Profit, net of taxSingapore dollars thousands | 17,677 | 19,921 | 8,609 | 10,366 | (14,928) | 41,645 | PDF p. 90 |
| Segment assetsSingapore dollars thousands | 511,866 | 116,040 | 285,648 | 90,744 | (79,365) | 924,933 | PDF p. 90 |
| Segment liabilitiesSingapore dollars thousands | 341,238 | 66,725 | 234,960 | 103,770 | (28,041) | 718,652 | PDF p. 90 |
| Capital expenditureSingapore dollars thousands | 830 | 1,027 | 5 | – | – | 1,862 | PDF p. 90 |
| Depreciation and amortisationSingapore dollars thousands | 3,991 | 7,737 | 20 | 463 | – | 12,211 | PDF p. 90 |
Definitions & sources
Original report: PDF p. 90 ↗
Segment unallocated and Group totals / 2024
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group total | Source |
|---|---|---|
| Segment original results | ||
| Unallocated assetsSingapore dollars thousands | 129 | PDF p. 90 |
| Total assetsSingapore dollars thousands | 925,062 | PDF p. 90 |
| Unallocated liabilitiesSingapore dollars thousands | 7,087 | PDF p. 90 |
| Total liabilitiesSingapore dollars thousands | 725,739 | PDF p. 90 |
Definitions & sources
Original report: PDF p. 90 ↗
Geographical revenue and non-current assets
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Revenue | 2024Group / Revenue | 2025Group / Non-current assets excluding deferred tax assets | 2024Group / Non-current assets excluding deferred tax assets | Source |
|---|---|---|---|---|---|
| Geographical revenue and non-current assets | |||||
| SingaporeSingapore dollars thousands | 463,185 | 338,975 | 211,208 | 202,799 | PDF p. 91 |
| MalaysiaSingapore dollars thousands | 78,758 | 51,093 | 11,637 | 9,758 | PDF p. 91 |
| SubtotalSingapore dollars thousands | 541,943 | 390,068 | 222,845 | 212,557 | PDF p. 91 |
Definitions & sources
Original report: PDF p. 91 ↗
Major wholesale customers
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Major customers | |||
| Top 1 customerSingapore dollars thousands | 202,360 | 132,929 | PDF p. 91 |
| Top 2 customersSingapore dollars thousands | 224,877 | 132,949 | PDF p. 91 |
Definitions & sources
Original report: PDF p. 91 ↗
Top2customers total includes top1; they are not additive.
Revenue by goods and services
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Revenue by goods and services | |||
| Sales of gold, luxury items and unredeemed pledgesSingapore dollars thousands | 420,143 | 294,482 | PDF p. 92 |
| Interest income from collateral loan servicesSingapore dollars thousands | 95,326 | 64,940 | PDF p. 92 |
| Interest income from secured lendingSingapore dollars thousands | 21,689 | 24,184 | PDF p. 92 |
| Other fees incomeSingapore dollars thousands | 4,785 | 6,462 | PDF p. 92 |
| SubtotalSingapore dollars thousands | 541,943 | 390,068 | PDF p. 92 |
Definitions & sources
Original report: PDF p. 92 ↗
Revenue by contract duration
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Revenue by contract duration | |||
| Short-term contracts – less than 12 monthsSingapore dollars thousands | 525,578 | 372,821 | PDF p. 92 |
| Long-term contracts – over 12 monthsSingapore dollars thousands | 16,365 | 17,247 | PDF p. 92 |
| SubtotalSingapore dollars thousands | 541,943 | 390,068 | PDF p. 92 |
Definitions & sources
Original report: PDF p. 92 ↗
Revenue by recognition timing
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Revenue by recognition timing | |||
| Point in timeSingapore dollars thousands | 426,234 | 302,292 | PDF p. 92 |
| Over timeSingapore dollars thousands | 115,709 | 87,776 | PDF p. 92 |
| SubtotalSingapore dollars thousands | 541,943 | 390,068 | PDF p. 92 |
Definitions & sources
Original report: PDF p. 92 ↗
EPS / owner profit numerator
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Original EPS inputs | |||
| Profit attributable to owners of the parent, net of taxSingapore dollars thousands | 71,686 | 38,216 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
Both numerator and denominator are in thousands; EPS cents equals owner profit / weighted shares ×100. One-for-one bonus issue is retrospectively applied to current/prior EPS.
EPS / weighted ordinary-share base
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Original EPS inputs | |||
| Weighted average number of equity sharesShares thousands | 884,500 | 884,500 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
Both numerator and denominator are in thousands; EPS cents equals owner profit / weighted shares ×100. One-for-one bonus issue is retrospectively applied to current/prior EPS.
Company dividends / original per-share rates
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|
| Declared and paid during financial year | |||
| First and final tax exempt (one-tier) dividendSingapore cents per share | 1.40 | 1.00 | PDF p. 97 |
| Proposed but not recognised as liability at31December | |||
| First and final tax exempt (one-tier) dividendSingapore cents per share | 1.50 | 1.40 | PDF p. 97 |
| Special tax exempt (one-tier) dividendSingapore cents per share | 0.50 | – | PDF p. 97 |
Definitions & sources
Original report: PDF p. 97 ↗
Paid dividend1.40cents uses prebonus share base; proposed1.50+0.50cents uses884,499,998postbonusshares. Proposed dividends are not FY2025liabilities or FY2025cash payments.
Dividends paid during2025are6,192thousand at1.40cents on the prebonus basis. Proposed FY2025first/final1.50cents/13,268thousand and special0.50cent/4,422thousand are not year-end liabilities or FY2025cash paid. Their combined2.00cents uses the postbonus884,499,998share base.
Three original rate/cash comparisons differ by1thousand from multiplying the printed rate by the disclosed ordinary-share base and rounding: FY2025paid6,192vs6,191; FY2025proposedfirst/final13,268vs13,267; FY2024proposedfirst/final6,192vs6,191. Original values are retained; an unprinted exact cash-rounding basis is not invented.
Company dividends / original cash and proposed amounts
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|
| Declared and paid during financial year | |||
| First and final tax exempt (one-tier) dividendSingapore dollars thousands | 6,192 | 4,422 | PDF p. 97 |
| Proposed but not recognised as liability at31December | |||
| First and final tax exempt (one-tier) dividendSingapore dollars thousands | 13,268 | 6,192 | PDF p. 97 |
| Special tax exempt (one-tier) dividendSingapore dollars thousands | 4,422 | – | PDF p. 97 |
Definitions & sources
Original report: PDF p. 97 ↗
Proposed first/final13,268and special4,422thousand are separate from6,192thousand cash paid during2025.
Dividends paid during2025are6,192thousand at1.40cents on the prebonus basis. Proposed FY2025first/final1.50cents/13,268thousand and special0.50cent/4,422thousand are not year-end liabilities or FY2025cash paid. Their combined2.00cents uses the postbonus884,499,998share base.
Three original rate/cash comparisons differ by1thousand from multiplying the printed rate by the disclosed ordinary-share base and rounding: FY2025paid6,192vs6,191; FY2025proposedfirst/final13,268vs13,267; FY2024proposedfirst/final6,192vs6,191. Original values are retained; an unprinted exact cash-rounding basis is not invented.
Bank cash and short-term deposits
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|---|---|
| Bank cash and short-term deposits | |||||
| Cash on hand and in bankSingapore dollars thousands | 28,024 | 25,327 | 524 | 541 | PDF p. 109 |
| Short-term bank depositsSingapore dollars thousands | 406 | – | – | – | PDF p. 109 |
| SubtotalSingapore dollars thousands | 28,430 | 25,327 | 524 | 541 | PDF p. 109 |
Definitions & sources
Original report: PDF p. 109 ↗
Cash-flow cash reconciliation
5 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Cash-flow cash reconciliation | |||
| Cash at end of the yearSingapore dollars thousands | 28,430 | 25,327 | PDF p. 109 |
| Cash pledged for bank facilitiesSingapore dollars thousands | (406) | – | PDF p. 109 |
| Unrestricted cashSingapore dollars thousands | 28,024 | 25,327 | PDF p. 109 |
| Bank overdrafts (Note 24)Singapore dollars thousands | (4,692) | (6,658) | PDF p. 109 |
| Cash and cash equivalents for statement of cash flows purposes at end of the yearSingapore dollars thousands | 23,332 | 18,669 | PDF p. 109 |
Definitions & sources
Original report: PDF p. 109 ↗
Group and Company bank loans commercial paper and MTN
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | 2025Company / year ended December31, 2025 | 2024Company / year ended December31, 2024 | Source |
|---|---|---|---|---|---|
| Other financial liabilities | |||||
| Non-current: Bank loans (secured)Singapore dollars thousands | 118,511 | 100,438 | – | – | PDF p. 112 |
| Bank loans (unsecured)Singapore dollars thousands | 374 | 1,786 | – | 639 | PDF p. 112 |
| Medium-term notes (unsecured)Singapore dollars thousands | 100,000 | – | – | – | PDF p. 112 |
| SubtotalSingapore dollars thousands | 218,885 | 102,224 | – | 639 | PDF p. 112 |
| Current: Bank overdrafts (secured) (Note 21A)Singapore dollars thousands | 4,692 | 6,658 | – | – | PDF p. 112 |
| Bank loans (secured)Singapore dollars thousands | 535,890 | 453,228 | – | – | PDF p. 112 |
| Bank loans (unsecured)Singapore dollars thousands | 12,565 | 14,782 | 9,139 | 8,869 | PDF p. 112 |
| Commercial papers (unsecured)Singapore dollars thousands | 96,540 | 54,040 | 22,160 | 54,040 | PDF p. 112 |
| SubtotalSingapore dollars thousands | 649,687 | 528,708 | 31,299 | 62,909 | PDF p. 112 |
| TotalSingapore dollars thousands | 868,572 | 630,932 | 31,299 | 63,548 | PDF p. 112 |
Definitions & sources
Original report: PDF p. 112 ↗
Includes100,000thousand medium-term notes issued2025; lease liabilities disclosed separately.
Lease liability components
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Lease liability components | |||
| Non-current: Finance lease liabilitiesSingapore dollars thousands | 69 | 141 | PDF p. 115 |
| Other lease liabilitiesSingapore dollars thousands | 4,809 | 6,370 | PDF p. 115 |
| Sub-totalSingapore dollars thousands | 4,878 | 6,511 | PDF p. 115 |
| Current: Finance lease liabilitiesSingapore dollars thousands | 78 | 85 | PDF p. 115 |
| Other lease liabilitiesSingapore dollars thousands | 9,530 | 10,241 | PDF p. 115 |
| Sub-totalSingapore dollars thousands | 9,608 | 10,326 | PDF p. 115 |
| TotalSingapore dollars thousands | 14,486 | 16,837 | PDF p. 115 |
Definitions & sources
Original report: PDF p. 115 ↗
Lease liability movements
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / year ended December31, 2025 | 2024Group / year ended December31, 2024 | Source |
|---|---|---|---|
| Lease liability movements | |||
| Total lease liabilities at beginning of the yearSingapore dollars thousands | 16,837 | 13,720 | PDF p. 115 |
| Additions (Note 14)Singapore dollars thousands | 8,175 | 13,187 | PDF p. 115 |
| Accretion of interestsSingapore dollars thousands | 833 | 841 | PDF p. 115 |
| Arising from acquisition of subsidiaries (Note 30)Singapore dollars thousands | 97 | 45 | PDF p. 115 |
| Lease payments – principal portion paidSingapore dollars thousands | (10,558) | (9,561) | PDF p. 115 |
| Lease payments – interest portion paidSingapore dollars thousands | (833) | (841) | PDF p. 115 |
| Elimination on disposal of subsidiaries (Note 29)Singapore dollars thousands | – | (24) | PDF p. 115 |
| DisposalSingapore dollars thousands | (67) | (573) | PDF p. 115 |
| Foreign exchange adjustmentsSingapore dollars thousands | 2 | 43 | PDF p. 115 |
| Total lease liabilities at end of the yearSingapore dollars thousands | 14,486 | 16,837 | PDF p. 115 |
Definitions & sources
Original report: PDF p. 115 ↗
Group profit or loss and comprehensive income
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Group profit or loss and comprehensive income | ||
| RevenueSingapore dollars thousands | 285,682 | PDF p. 76 |
| Other income and gainsSingapore dollars thousands | 1,065 | PDF p. 76 |
| Material costsSingapore dollars thousands | (175,218) | PDF p. 76 |
| Employee benefits expenseSingapore dollars thousands | (29,291) | PDF p. 76 |
| Depreciation and amortisation expenseSingapore dollars thousands | (11,461) | PDF p. 76 |
| Other lossesSingapore dollars thousands | (1,179) | PDF p. 76 |
| Finance costsSingapore dollars thousands | (24,196) | PDF p. 76 |
| Other expensesSingapore dollars thousands | (13,371) | PDF p. 76 |
| Profit before income taxSingapore dollars thousands | 32,031 | PDF p. 76 |
| Income tax expenseSingapore dollars thousands | (6,855) | PDF p. 76 |
| Profit for the yearSingapore dollars thousands | 25,176 | PDF p. 76 |
| Items that may be reclassified subsequently to profit or loss: | ||
| Exchange differences on translating foreign operations, net of taxSingapore dollars thousands | (1,940) | PDF p. 76 |
| Cash flow hedges, net of taxSingapore dollars thousands | (940) | PDF p. 76 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | (2,880) | PDF p. 76 |
| Total comprehensive incomeSingapore dollars thousands | 22,296 | PDF p. 76 |
| Profit for the year attributable to: | ||
| Owners of the parentSingapore dollars thousands | 22,667 | PDF p. 76 |
| Non-controlling interestsSingapore dollars thousands | 2,509 | PDF p. 76 |
| SubtotalSingapore dollars thousands | 25,176 | PDF p. 76 |
| Total comprehensive income attributable to: | ||
| Owners of the parentSingapore dollars thousands | 19,787 | PDF p. 76 |
| Non-controlling interestsSingapore dollars thousands | 2,509 | PDF p. 76 |
| SubtotalSingapore dollars thousands | 22,296 | PDF p. 76 |
| Earnings per share | ||
| Basic and dilutedSingapore cents per share | 5.13 | PDF p. 76 |
Definitions & sources
Original report: PDF p. 76 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group cash flows
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Cash flows from operating activities | ||
| Profit before income taxSingapore dollars thousands | 32,031 | PDF p. 80 |
| Adjustments for: | ||
| Interest expenseSingapore dollars thousands | 24,196 | PDF p. 80 |
| Dividend incomeSingapore dollars thousands | – | PDF p. 80 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,803 | PDF p. 80 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 8,648 | PDF p. 80 |
| Amortisation of intangible assetsSingapore dollars thousands | 10 | PDF p. 80 |
| Gains on retirement of right-of-use assetsSingapore dollars thousands | – | PDF p. 80 |
| Fair value loss on other financial assets at fair value through profit or loss (“FVTPL”)Singapore dollars thousands | 228 | PDF p. 80 |
| Loss on disposal / write-off of property, plant and equipmentSingapore dollars thousands | 1 | PDF p. 80 |
| Loss on disposal of subsidiariesSingapore dollars thousands | – | PDF p. 80 |
| Net effect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands | 951 | PDF p. 80 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 68,868 | PDF p. 80 |
| InventoriesSingapore dollars thousands | 13,113 | PDF p. 80 |
| Trade and other receivablesSingapore dollars thousands | (130,033) | PDF p. 80 |
| Other assetsSingapore dollars thousands | (1,879) | PDF p. 80 |
| Trade and other payablesSingapore dollars thousands | 10,688 | PDF p. 80 |
| Other liabilitiesSingapore dollars thousands | (198) | PDF p. 80 |
| Net cash flows used in operationsSingapore dollars thousands | (39,441) | PDF p. 80 |
| Income taxes paidSingapore dollars thousands | (7,249) | PDF p. 80 |
| Net cash used in operating activitiesSingapore dollars thousands | (46,690) | PDF p. 80 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment (Notes 13 and 21B)Singapore dollars thousands | (3,133) | PDF p. 80 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 114 | PDF p. 80 |
| Acquisition of intangible assets (Note 15C)Singapore dollars thousands | – | PDF p. 80 |
| Dividend from other financial assets at FVTPLSingapore dollars thousands | – | PDF p. 80 |
| Payments for acquisition of subsidiaries (Note 30)Singapore dollars thousands | – | PDF p. 80 |
| Net cash outflow on disposal of subsidiaries (Note 29)Singapore dollars thousands | – | PDF p. 80 |
| Net cash used in investing activitiesSingapore dollars thousands | (3,019) | PDF p. 80 |
| Cash flows from financing activities | ||
| Increase in loans and borrowingsSingapore dollars thousands | 327,832 | PDF p. 80 |
| Loans and borrowings paidSingapore dollars thousands | (245,730) | PDF p. 80 |
| Payments of principal portion of lease liabilitiesSingapore dollars thousands | (10,756) | PDF p. 80 |
| Repayments of finance lease liabilitiesSingapore dollars thousands | (85) | PDF p. 80 |
| Interest expense paidSingapore dollars thousands | (24,196) | PDF p. 80 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,422) | PDF p. 80 |
| Net cash provided by financing activitiesSingapore dollars thousands | 42,643 | PDF p. 80 |
| Net increase / (decrease) in cash and cash equivalentsSingapore dollars thousands | (7,066) | PDF p. 80 |
| Cash and cash equivalents, beginning balanceSingapore dollars thousands | 19,492 | PDF p. 80 |
| Cash and cash equivalents, ending balance (Note 21A)Singapore dollars thousands | 12,426 | PDF p. 80 |
Definitions & sources
Original report: PDF p. 80 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | 22,713 | PDF p. 77 |
| Right-of-use assetsSingapore dollars thousands | 12,843 | PDF p. 77 |
| Intangible assetsSingapore dollars thousands | 4,304 | PDF p. 77 |
| Investments in subsidiariesSingapore dollars thousands | – | PDF p. 77 |
| Deferred tax assetsSingapore dollars thousands | 129 | PDF p. 77 |
| Other financial assets, non-currentSingapore dollars thousands | 6,653 | PDF p. 77 |
| Derivative financial instruments, non-currentSingapore dollars thousands | 303 | PDF p. 77 |
| Trade and other receivables, non-currentSingapore dollars thousands | 162,337 | PDF p. 77 |
| Other assets, non-currentSingapore dollars thousands | 2,738 | PDF p. 77 |
| Total non-current assetsSingapore dollars thousands | 212,020 | PDF p. 77 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 68,647 | PDF p. 77 |
| Derivative financial instruments, currentSingapore dollars thousands | 124 | PDF p. 77 |
| Trade and other receivables, currentSingapore dollars thousands | 438,382 | PDF p. 77 |
| Other assets, currentSingapore dollars thousands | 8,548 | PDF p. 77 |
| Cash and cash equivalentsSingapore dollars thousands | 18,470 | PDF p. 77 |
| Total current assetsSingapore dollars thousands | 534,171 | PDF p. 77 |
| Total assetsSingapore dollars thousands | 746,191 | PDF p. 77 |
| Equity | ||
| Share capitalSingapore dollars thousands | 56,144 | PDF p. 77 |
| Retained earningsSingapore dollars thousands | 93,425 | PDF p. 77 |
| Other reservesSingapore dollars thousands | (2,977) | PDF p. 77 |
| Equity attributable to owners of the parentSingapore dollars thousands | 146,592 | PDF p. 77 |
| Non-controlling interestsSingapore dollars thousands | 12,140 | PDF p. 77 |
| Total equitySingapore dollars thousands | 158,732 | PDF p. 77 |
| Non-current liabilities | ||
| Other financial liabilities, non-currentSingapore dollars thousands | 118,326 | PDF p. 77 |
| Lease liabilities, non-currentSingapore dollars thousands | 5,812 | PDF p. 77 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | PDF p. 77 |
| Deferred tax liabilitiesSingapore dollars thousands | 207 | PDF p. 77 |
| Total non-current liabilitiesSingapore dollars thousands | 124,345 | PDF p. 77 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | 3,992 | PDF p. 77 |
| Trade and other payablesSingapore dollars thousands | 65,963 | PDF p. 77 |
| Other financial liabilities, currentSingapore dollars thousands | 382,901 | PDF p. 77 |
| Lease liabilities, currentSingapore dollars thousands | 7,908 | PDF p. 77 |
| Other liabilitiesSingapore dollars thousands | 2,350 | PDF p. 77 |
| Total current liabilitiesSingapore dollars thousands | 463,114 | PDF p. 77 |
| Total liabilitiesSingapore dollars thousands | 587,459 | PDF p. 77 |
| Total equity and liabilitiesSingapore dollars thousands | 746,191 | PDF p. 77 |
Definitions & sources
Original report: PDF p. 77 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company financial position
36 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / year ended December31, 2023 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | – | PDF p. 77 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 77 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 77 |
| Investments in subsidiariesSingapore dollars thousands | 119,436 | PDF p. 77 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 77 |
| Other financial assets, non-currentSingapore dollars thousands | 5,853 | PDF p. 77 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | PDF p. 77 |
| Trade and other receivables, non-currentSingapore dollars thousands | – | PDF p. 77 |
| Other assets, non-currentSingapore dollars thousands | – | PDF p. 77 |
| Total non-current assetsSingapore dollars thousands | 125,289 | PDF p. 77 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 77 |
| Derivative financial instruments, currentSingapore dollars thousands | – | PDF p. 77 |
| Trade and other receivables, currentSingapore dollars thousands | 14,770 | PDF p. 77 |
| Other assets, currentSingapore dollars thousands | 97 | PDF p. 77 |
| Cash and cash equivalentsSingapore dollars thousands | 593 | PDF p. 77 |
| Total current assetsSingapore dollars thousands | 15,460 | PDF p. 77 |
| Total assetsSingapore dollars thousands | 140,749 | PDF p. 77 |
| Equity | ||
| Share capitalSingapore dollars thousands | 56,144 | PDF p. 77 |
| Retained earningsSingapore dollars thousands | 9,062 | PDF p. 77 |
| Other reservesSingapore dollars thousands | – | PDF p. 77 |
| Equity attributable to owners of the parentSingapore dollars thousands | 65,206 | PDF p. 77 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 77 |
| Total equitySingapore dollars thousands | 65,206 | PDF p. 77 |
| Non-current liabilities | ||
| Other financial liabilities, non-currentSingapore dollars thousands | 1,310 | PDF p. 77 |
| Lease liabilities, non-currentSingapore dollars thousands | – | PDF p. 77 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | PDF p. 77 |
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 77 |
| Total non-current liabilitiesSingapore dollars thousands | 1,310 | PDF p. 77 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | 127 | PDF p. 77 |
| Trade and other payablesSingapore dollars thousands | 43,578 | PDF p. 77 |
| Other financial liabilities, currentSingapore dollars thousands | 30,528 | PDF p. 77 |
| Lease liabilities, currentSingapore dollars thousands | – | PDF p. 77 |
| Other liabilitiesSingapore dollars thousands | – | PDF p. 77 |
| Total current liabilitiesSingapore dollars thousands | 74,233 | PDF p. 77 |
| Total liabilitiesSingapore dollars thousands | 75,543 | PDF p. 77 |
| Total equity and liabilitiesSingapore dollars thousands | 140,749 | PDF p. 77 |
Definitions & sources
Original report: PDF p. 77 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group changes in equity / 2023
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 / Total equity | 2023Group / year ended December31, 2023 / Attributable to parent sub-total | 2023Group / year ended December31, 2023 / Share capital | 2023Group / year ended December31, 2023 / Retained earnings | 2023Group / year ended December31, 2023 / Other reserves | 2023Group / year ended December31, 2023 / Non-controlling interests | Source |
|---|---|---|---|---|---|---|---|
| Previous year: | |||||||
| Opening balance at 1 January 2023Singapore dollars thousands | 140,858 | 131,227 | 56,144 | 75,180 | (97) | 9,631 | PDF p. 78 |
| Changes in equity: | |||||||
| Total comprehensive income for the yearSingapore dollars thousands | 22,296 | 19,787 | – | 22,667 | (2,880) | 2,509 | PDF p. 78 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,422) | (4,422) | – | (4,422) | – | – | PDF p. 78 |
| Closing balance at 31 December 2023Singapore dollars thousands | 158,732 | 146,592 | 56,144 | 93,425 | (2,977) | 12,140 | PDF p. 78 |
Definitions & sources
Original report: PDF p. 78 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company changes in equity / 2023
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Company / year ended December31, 2023 / Total equity | 2023Company / year ended December31, 2023 / Share capital | 2023Company / year ended December31, 2023 / Retained earnings | Source |
|---|---|---|---|---|
| Previous year: | ||||
| Opening balance at 1 January 2023Singapore dollars thousands | 63,463 | 56,144 | 7,319 | PDF p. 79 |
| Changes in equity: | ||||
| Total comprehensive income for the yearSingapore dollars thousands | 6,165 | – | 6,165 | PDF p. 79 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,422) | – | (4,422) | PDF p. 79 |
| Closing balance at 31 December 2023Singapore dollars thousands | 65,206 | 56,144 | 9,062 | PDF p. 79 |
Definitions & sources
Original report: PDF p. 79 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Original comparative cash-flow cash reconciliation
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / year ended December31, 2023 | Source |
|---|---|---|
| Cash-flow cash reconciliation | ||
| Amount as shown aboveSingapore dollars thousands | 18,470 | PDF p. 113 |
| Bank overdrafts (Note 24)Singapore dollars thousands | (6,044) | PDF p. 113 |
| Cash and cash equivalents for statement of cash flows purposes at end of the yearSingapore dollars thousands | 12,426 | PDF p. 113 |
Definitions & sources
Original report: PDF p. 113 ↗
Group profit or loss and comprehensive income
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Group profit or loss and comprehensive income | ||
| RevenueSingapore dollars thousands | 253,491 | PDF p. 64 |
| Other income and gainsSingapore dollars thousands | 1,692 | PDF p. 64 |
| Material costsSingapore dollars thousands | (162,813) | PDF p. 64 |
| Employee benefits expenseSingapore dollars thousands | (24,888) | PDF p. 64 |
| Depreciation and amortisation expenseSingapore dollars thousands | (13,068) | PDF p. 64 |
| Other lossesSingapore dollars thousands | (562) | PDF p. 64 |
| Finance costsSingapore dollars thousands | (14,588) | PDF p. 64 |
| Other expensesSingapore dollars thousands | (9,519) | PDF p. 64 |
| Profit before income taxSingapore dollars thousands | 29,745 | PDF p. 64 |
| Income tax expenseSingapore dollars thousands | (5,962) | PDF p. 64 |
| Profit for the yearSingapore dollars thousands | 23,783 | PDF p. 64 |
| Items that may be reclassified subsequently to profit or loss: | ||
| Exchange differences on translating foreign operations, net of taxSingapore dollars thousands | (1,311) | PDF p. 64 |
| Cash flow hedges, net of taxSingapore dollars thousands | 1,312 | PDF p. 64 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | 1 | PDF p. 64 |
| Total comprehensive incomeSingapore dollars thousands | 23,784 | PDF p. 64 |
| Profit for the year attributable to: | ||
| Owners of the parentSingapore dollars thousands | 22,052 | PDF p. 64 |
| Non-controlling interestsSingapore dollars thousands | 1,731 | PDF p. 64 |
| SubtotalSingapore dollars thousands | 23,783 | PDF p. 64 |
| Total comprehensive income attributable to: | ||
| Owners of the parentSingapore dollars thousands | 22,053 | PDF p. 64 |
| Non-controlling interestsSingapore dollars thousands | 1,731 | PDF p. 64 |
| SubtotalSingapore dollars thousands | 23,784 | PDF p. 64 |
| Earnings per share | ||
| Basic and dilutedSingapore cents per share | 4.99 | PDF p. 64 |
Definitions & sources
Original report: PDF p. 64 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group cash flows
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Cash flows from operating activities | ||
| Profit before income taxSingapore dollars thousands | 29,745 | PDF p. 68 |
| Adjustments for: | ||
| Interest expenseSingapore dollars thousands | 14,588 | PDF p. 68 |
| Dividend incomeSingapore dollars thousands | (61) | PDF p. 68 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 2,445 | PDF p. 68 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 10,607 | PDF p. 68 |
| Amortisation of intangible assetsSingapore dollars thousands | 16 | PDF p. 68 |
| Fair value loss on other financial assets at FVTPLSingapore dollars thousands | – | PDF p. 68 |
| Loss/(gain) on disposal of property, plant and equipmentSingapore dollars thousands | (146) | PDF p. 68 |
| Net effect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands | 260 | PDF p. 68 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 57,454 | PDF p. 68 |
| InventoriesSingapore dollars thousands | (8,518) | PDF p. 68 |
| Trade and other receivablesSingapore dollars thousands | (101,968) | PDF p. 68 |
| Other assetsSingapore dollars thousands | (1,982) | PDF p. 68 |
| Trade and other payablesSingapore dollars thousands | 16,192 | PDF p. 68 |
| Other liabilitiesSingapore dollars thousands | (748) | PDF p. 68 |
| Net cash flows used in operationsSingapore dollars thousands | (39,570) | PDF p. 68 |
| Income taxes paidSingapore dollars thousands | (6,068) | PDF p. 68 |
| Net cash flows used in operating activitiesSingapore dollars thousands | (45,638) | PDF p. 68 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment (Notes 13 and 21B)Singapore dollars thousands | (4,525) | PDF p. 68 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 148 | PDF p. 68 |
| Acquisition of licences (Note 15B)Singapore dollars thousands | (307) | PDF p. 68 |
| Dividend from other financial assets at FVTPLSingapore dollars thousands | 61 | PDF p. 68 |
| Net cash flows used in investing activitiesSingapore dollars thousands | (4,623) | PDF p. 68 |
| Cash flows from financing activities | ||
| Increase in loans and borrowingsSingapore dollars thousands | 179,688 | PDF p. 68 |
| Loans and borrowings paidSingapore dollars thousands | (98,581) | PDF p. 68 |
| Payments of principal portion of lease liabilitiesSingapore dollars thousands | (10,399) | PDF p. 68 |
| Repayments of finance lease liabilitiesSingapore dollars thousands | (30) | PDF p. 68 |
| Interest expense paidSingapore dollars thousands | (14,588) | PDF p. 68 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,201) | PDF p. 68 |
| Net cash flows from financing activitiesSingapore dollars thousands | 51,889 | PDF p. 68 |
| Net (decrease)/increase in cash and cash equivalentsSingapore dollars thousands | 1,628 | PDF p. 68 |
| Cash and cash equivalents, beginning balanceSingapore dollars thousands | 17,864 | PDF p. 68 |
| Cash and cash equivalents, ending balance (Note 21A)Singapore dollars thousands | 19,492 | PDF p. 68 |
Definitions & sources
Original report: PDF p. 68 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group financial position
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | 22,476 | PDF p. 65 |
| Right-of-use assetsSingapore dollars thousands | 12,144 | PDF p. 65 |
| Intangible assetsSingapore dollars thousands | 4,541 | PDF p. 65 |
| Investments in subsidiariesSingapore dollars thousands | – | PDF p. 65 |
| Deferred tax assetsSingapore dollars thousands | 22 | PDF p. 65 |
| Other financial assets, non-currentSingapore dollars thousands | 6,881 | PDF p. 65 |
| Derivative financial instruments, non-currentSingapore dollars thousands | 1,145 | PDF p. 65 |
| Trade and other receivables, non-currentSingapore dollars thousands | 149,440 | PDF p. 65 |
| Other assets, non-currentSingapore dollars thousands | 2,736 | PDF p. 65 |
| Total non-current assetsSingapore dollars thousands | 199,385 | PDF p. 65 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 81,760 | PDF p. 65 |
| Derivative financial instruments, currentSingapore dollars thousands | 414 | PDF p. 65 |
| Trade and other receivables, currentSingapore dollars thousands | 321,246 | PDF p. 65 |
| Other assets, currentSingapore dollars thousands | 6,671 | PDF p. 65 |
| Cash and cash equivalentsSingapore dollars thousands | 20,911 | PDF p. 65 |
| Total current assetsSingapore dollars thousands | 431,002 | PDF p. 65 |
| Total assetsSingapore dollars thousands | 630,387 | PDF p. 65 |
| Equity | ||
| Share capitalSingapore dollars thousands | 56,144 | PDF p. 65 |
| Retained earningsSingapore dollars thousands | 75,180 | PDF p. 65 |
| Other reservesSingapore dollars thousands | (97) | PDF p. 65 |
| Equity attributable to owners of the parentSingapore dollars thousands | 131,227 | PDF p. 65 |
| Non-controlling interestsSingapore dollars thousands | 9,631 | PDF p. 65 |
| Total equitySingapore dollars thousands | 140,858 | PDF p. 65 |
| Non-current liabilities | ||
| Other financial liabilities, non-currentSingapore dollars thousands | 130,032 | PDF p. 65 |
| Lease liabilities, non-currentSingapore dollars thousands | 4,726 | PDF p. 65 |
| Deferred tax liabilitiesSingapore dollars thousands | 329 | PDF p. 65 |
| Total non-current liabilitiesSingapore dollars thousands | 135,087 | PDF p. 65 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | 4,348 | PDF p. 65 |
| Trade and other payablesSingapore dollars thousands | 55,480 | PDF p. 65 |
| Other financial liabilities, currentSingapore dollars thousands | 282,852 | PDF p. 65 |
| Lease liabilities, currentSingapore dollars thousands | 9,214 | PDF p. 65 |
| Other liabilitiesSingapore dollars thousands | 2,548 | PDF p. 65 |
| Total current liabilitiesSingapore dollars thousands | 354,442 | PDF p. 65 |
| Total liabilitiesSingapore dollars thousands | 489,529 | PDF p. 65 |
| Total equity and liabilitiesSingapore dollars thousands | 630,387 | PDF p. 65 |
Definitions & sources
Original report: PDF p. 65 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company financial position
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / year ended December31, 2022 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | – | PDF p. 65 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 65 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 65 |
| Investments in subsidiariesSingapore dollars thousands | 89,291 | PDF p. 65 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 65 |
| Other financial assets, non-currentSingapore dollars thousands | 5,853 | PDF p. 65 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | PDF p. 65 |
| Trade and other receivables, non-currentSingapore dollars thousands | – | PDF p. 65 |
| Other assets, non-currentSingapore dollars thousands | – | PDF p. 65 |
| Total non-current assetsSingapore dollars thousands | 95,144 | PDF p. 65 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 65 |
| Derivative financial instruments, currentSingapore dollars thousands | – | PDF p. 65 |
| Trade and other receivables, currentSingapore dollars thousands | 19,392 | PDF p. 65 |
| Other assets, currentSingapore dollars thousands | 82 | PDF p. 65 |
| Cash and cash equivalentsSingapore dollars thousands | 420 | PDF p. 65 |
| Total current assetsSingapore dollars thousands | 19,894 | PDF p. 65 |
| Total assetsSingapore dollars thousands | 115,038 | PDF p. 65 |
| Equity | ||
| Share capitalSingapore dollars thousands | 56,144 | PDF p. 65 |
| Retained earningsSingapore dollars thousands | 7,319 | PDF p. 65 |
| Other reservesSingapore dollars thousands | – | PDF p. 65 |
| Equity attributable to owners of the parentSingapore dollars thousands | 63,463 | PDF p. 65 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 65 |
| Total equitySingapore dollars thousands | 63,463 | PDF p. 65 |
| Non-current liabilities | ||
| Other financial liabilities, non-currentSingapore dollars thousands | 1,858 | PDF p. 65 |
| Lease liabilities, non-currentSingapore dollars thousands | – | PDF p. 65 |
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 65 |
| Total non-current liabilitiesSingapore dollars thousands | 1,858 | PDF p. 65 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | – | PDF p. 65 |
| Trade and other payablesSingapore dollars thousands | 43,137 | PDF p. 65 |
| Other financial liabilities, currentSingapore dollars thousands | 6,580 | PDF p. 65 |
| Lease liabilities, currentSingapore dollars thousands | – | PDF p. 65 |
| Other liabilitiesSingapore dollars thousands | – | PDF p. 65 |
| Total current liabilitiesSingapore dollars thousands | 49,717 | PDF p. 65 |
| Total liabilitiesSingapore dollars thousands | 51,575 | PDF p. 65 |
| Total equity and liabilitiesSingapore dollars thousands | 115,038 | PDF p. 65 |
Definitions & sources
Original report: PDF p. 65 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group changes in equity / 2022
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 / Total equity | 2022Group / year ended December31, 2022 / Attributable to parent sub-total | 2022Group / year ended December31, 2022 / Share capital | 2022Group / year ended December31, 2022 / Retained earnings | 2022Group / year ended December31, 2022 / Other reserves | 2022Group / year ended December31, 2022 / Non-controlling interests | Source |
|---|---|---|---|---|---|---|---|
| Previous year: | |||||||
| Opening balance at 1 January 2022Singapore dollars thousands | 121,275 | 113,375 | 56,144 | 57,329 | (98) | 7,900 | PDF p. 66 |
| Changes in equity: | |||||||
| Total comprehensive income for the yearSingapore dollars thousands | 23,784 | 22,053 | – | 22,052 | 1 | 1,731 | PDF p. 66 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,201) | (4,201) | – | (4,201) | – | – | PDF p. 66 |
| Closing balance at 31 December 2022Singapore dollars thousands | 140,858 | 131,227 | 56,144 | 75,180 | (97) | 9,631 | PDF p. 66 |
Definitions & sources
Original report: PDF p. 66 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company changes in equity / 2022
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Company / year ended December31, 2022 / Total equity | 2022Company / year ended December31, 2022 / Share capital | 2022Company / year ended December31, 2022 / Retained earnings | Source |
|---|---|---|---|---|
| Previous year: | ||||
| Opening balance at 1 January 2022Singapore dollars thousands | 63,783 | 56,144 | 7,639 | PDF p. 67 |
| Changes in equity: | ||||
| Total comprehensive income for the yearSingapore dollars thousands | 3,881 | – | 3,881 | PDF p. 67 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,201) | – | (4,201) | PDF p. 67 |
| Closing balance at 31 December 2022Singapore dollars thousands | 63,463 | 56,144 | 7,319 | PDF p. 67 |
Definitions & sources
Original report: PDF p. 67 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Original comparative cash-flow cash reconciliation
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2022Group / year ended December31, 2022 | Source |
|---|---|---|
| Cash-flow cash reconciliation | ||
| Amount as shown aboveSingapore dollars thousands | 20,911 | PDF p. 97 |
| Bank overdrafts (Note 24)Singapore dollars thousands | (1,419) | PDF p. 97 |
| Cash and cash equivalents for statement of cash flows purposes at end of the yearSingapore dollars thousands | 19,492 | PDF p. 97 |
Definitions & sources
Original report: PDF p. 97 ↗
Group profit or loss and comprehensive income
22 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Group profit or loss and comprehensive income | ||
| RevenueSingapore dollars thousands | 199,217 | PDF p. 66 |
| Other income and gainsSingapore dollars thousands | 2,702 | PDF p. 66 |
| Material costsSingapore dollars thousands | (128,991) | PDF p. 66 |
| Employee benefits expenseSingapore dollars thousands | (19,532) | PDF p. 66 |
| Depreciation and amortisation expenseSingapore dollars thousands | (12,092) | PDF p. 66 |
| Other lossesSingapore dollars thousands | (551) | PDF p. 66 |
| Finance costsSingapore dollars thousands | (9,461) | PDF p. 66 |
| Other expensesSingapore dollars thousands | (5,845) | PDF p. 66 |
| Profit before income taxSingapore dollars thousands | 25,447 | PDF p. 66 |
| Income tax expenseSingapore dollars thousands | (4,321) | PDF p. 66 |
| Profit for the yearSingapore dollars thousands | 21,126 | PDF p. 66 |
| Items that may be reclassified subsequently to profit or loss: | ||
| Exchange differences on translating foreign operations, net of taxSingapore dollars thousands | (123) | PDF p. 66 |
| Cash flow hedges, net of taxSingapore dollars thousands | 288 | PDF p. 66 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | 165 | PDF p. 66 |
| Total comprehensive incomeSingapore dollars thousands | 21,291 | PDF p. 66 |
| Profit for the year attributable to: | ||
| Owners of the parentSingapore dollars thousands | 19,805 | PDF p. 66 |
| Non-controlling interestsSingapore dollars thousands | 1,321 | PDF p. 66 |
| SubtotalSingapore dollars thousands | 21,126 | PDF p. 66 |
| Total comprehensive income attributable to: | ||
| Owners of the parentSingapore dollars thousands | 19,970 | PDF p. 66 |
| Non-controlling interestsSingapore dollars thousands | 1,321 | PDF p. 66 |
| SubtotalSingapore dollars thousands | 21,291 | PDF p. 66 |
| Earnings per share | ||
| Basic and dilutedSingapore cents per share | 4.48 | PDF p. 66 |
Definitions & sources
Original report: PDF p. 66 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group cash flows
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Cash flows from operating activities | ||
| Profit before income taxSingapore dollars thousands | 25,447 | PDF p. 70 |
| Adjustments for: | ||
| Interest expenseSingapore dollars thousands | 9,461 | PDF p. 70 |
| Dividend incomeSingapore dollars thousands | – | PDF p. 70 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | 1,924 | PDF p. 70 |
| Depreciation of right-of-use assetsSingapore dollars thousands | 10,082 | PDF p. 70 |
| Amortisation of intangible assetsSingapore dollars thousands | 86 | PDF p. 70 |
| Fair value gain on other financial assets at FVTPLSingapore dollars thousands | (382) | PDF p. 70 |
| Gain on disposal of property, plant and equipmentSingapore dollars thousands | – | PDF p. 70 |
| Reversal of for inventory obsolescenceSingapore dollars thousands | (37) | PDF p. 70 |
| Net effect of exchange rate changes in consolidating foreign operationsSingapore dollars thousands | 127 | PDF p. 70 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 46,708 | PDF p. 70 |
| InventoriesSingapore dollars thousands | (30,798) | PDF p. 70 |
| Trade and other receivablesSingapore dollars thousands | (92,495) | PDF p. 70 |
| Other assetsSingapore dollars thousands | (1,866) | PDF p. 70 |
| Trade and other payablesSingapore dollars thousands | 15,979 | PDF p. 70 |
| Other liabilitiesSingapore dollars thousands | 449 | PDF p. 70 |
| Net cash flows used in operationsSingapore dollars thousands | (62,023) | PDF p. 70 |
| Income taxes paidSingapore dollars thousands | (4,287) | PDF p. 70 |
| Net cash flows used in operating activitiesSingapore dollars thousands | (66,310) | PDF p. 70 |
| Cash flows from investing activities | ||
| Purchase of property, plant and equipment (Notes 13 and 22B)Singapore dollars thousands | (2,155) | PDF p. 70 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | – | PDF p. 70 |
| Acquisition of licences (Note 15)Singapore dollars thousands | (480) | PDF p. 70 |
| Dividend from other financial assets at FVTPLSingapore dollars thousands | – | PDF p. 70 |
| Net cash flows used in investing activitiesSingapore dollars thousands | (2,635) | PDF p. 70 |
| Cash flows from financing activities | ||
| Increase in loans and borrowingsSingapore dollars thousands | 141,475 | PDF p. 70 |
| Loans and borrowings paidSingapore dollars thousands | (46,428) | PDF p. 70 |
| Payments of principal portion of lease liabilitiesSingapore dollars thousands | (8,963) | PDF p. 70 |
| Repayments of finance lease liabilitiesSingapore dollars thousands | (11) | PDF p. 70 |
| Interest expense paidSingapore dollars thousands | (9,461) | PDF p. 70 |
| Dividends paid (Note 12)Singapore dollars thousands | (4,175) | PDF p. 70 |
| Net cash flows from financing activitiesSingapore dollars thousands | 72,437 | PDF p. 70 |
| Net increase in cash and cash equivalentsSingapore dollars thousands | 3,492 | PDF p. 70 |
| Cash and cash equivalents, beginning balanceSingapore dollars thousands | 14,372 | PDF p. 70 |
| Cash and cash equivalents, ending balance (Note 22A)Singapore dollars thousands | 17,864 | PDF p. 70 |
Definitions & sources
Original report: PDF p. 70 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group financial position
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | 20,386 | PDF p. 67 |
| Right-of-use assetsSingapore dollars thousands | 17,933 | PDF p. 67 |
| Intangible assetsSingapore dollars thousands | 4,488 | PDF p. 67 |
| Investments in subsidiariesSingapore dollars thousands | – | PDF p. 67 |
| Deferred tax assetsSingapore dollars thousands | 33 | PDF p. 67 |
| Other financial assets, non-currentSingapore dollars thousands | 6,867 | PDF p. 67 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | PDF p. 67 |
| Trade and other receivables, non-currentSingapore dollars thousands | 108,102 | PDF p. 67 |
| Other assets, non-currentSingapore dollars thousands | 2,316 | PDF p. 67 |
| Total non-current assetsSingapore dollars thousands | 160,125 | PDF p. 67 |
| Current assets | ||
| InventoriesSingapore dollars thousands | 73,242 | PDF p. 67 |
| Derivative financial instruments, currentSingapore dollars thousands | – | PDF p. 67 |
| Trade and other receivables, currentSingapore dollars thousands | 260,617 | PDF p. 67 |
| Other assets, currentSingapore dollars thousands | 5,108 | PDF p. 67 |
| Cash and cash equivalentsSingapore dollars thousands | 19,772 | PDF p. 67 |
| Total current assetsSingapore dollars thousands | 358,739 | PDF p. 67 |
| Total assetsSingapore dollars thousands | 518,864 | PDF p. 67 |
| Equity | ||
| Share capitalSingapore dollars thousands | 56,144 | PDF p. 67 |
| Retained earningsSingapore dollars thousands | 57,329 | PDF p. 67 |
| Other reservesSingapore dollars thousands | (98) | PDF p. 67 |
| Equity attributable to owners of the parentSingapore dollars thousands | 113,375 | PDF p. 67 |
| Non-controlling interestsSingapore dollars thousands | 7,900 | PDF p. 67 |
| Total equitySingapore dollars thousands | 121,275 | PDF p. 67 |
| Non-current liabilities | ||
| Other financial liabilities, non-currentSingapore dollars thousands | 112,522 | PDF p. 67 |
| Lease liabilities, non-currentSingapore dollars thousands | 8,936 | PDF p. 67 |
| Deferred tax liabilitiesSingapore dollars thousands | 113 | PDF p. 67 |
| Total non-current liabilitiesSingapore dollars thousands | 121,571 | PDF p. 67 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | 4,182 | PDF p. 67 |
| Trade and other payablesSingapore dollars thousands | 39,488 | PDF p. 67 |
| Other financial liabilities, currentSingapore dollars thousands | 218,679 | PDF p. 67 |
| Lease liabilities, currentSingapore dollars thousands | 10,373 | PDF p. 67 |
| Other liabilitiesSingapore dollars thousands | 3,296 | PDF p. 67 |
| Total current liabilitiesSingapore dollars thousands | 276,018 | PDF p. 67 |
| Total liabilitiesSingapore dollars thousands | 397,589 | PDF p. 67 |
| Total equity and liabilitiesSingapore dollars thousands | 518,864 | PDF p. 67 |
Definitions & sources
Original report: PDF p. 67 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company financial position
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / year ended December31, 2021 | Source |
|---|---|---|
| Non-current assets | ||
| Property, plant and equipmentSingapore dollars thousands | – | PDF p. 67 |
| Right-of-use assetsSingapore dollars thousands | – | PDF p. 67 |
| Intangible assetsSingapore dollars thousands | – | PDF p. 67 |
| Investments in subsidiariesSingapore dollars thousands | 65,376 | PDF p. 67 |
| Deferred tax assetsSingapore dollars thousands | – | PDF p. 67 |
| Other financial assets, non-currentSingapore dollars thousands | 5,853 | PDF p. 67 |
| Derivative financial instruments, non-currentSingapore dollars thousands | – | PDF p. 67 |
| Trade and other receivables, non-currentSingapore dollars thousands | – | PDF p. 67 |
| Other assets, non-currentSingapore dollars thousands | – | PDF p. 67 |
| Total non-current assetsSingapore dollars thousands | 71,229 | PDF p. 67 |
| Current assets | ||
| InventoriesSingapore dollars thousands | – | PDF p. 67 |
| Derivative financial instruments, currentSingapore dollars thousands | – | PDF p. 67 |
| Trade and other receivables, currentSingapore dollars thousands | 37,941 | PDF p. 67 |
| Other assets, currentSingapore dollars thousands | 78 | PDF p. 67 |
| Cash and cash equivalentsSingapore dollars thousands | 1,347 | PDF p. 67 |
| Total current assetsSingapore dollars thousands | 39,366 | PDF p. 67 |
| Total assetsSingapore dollars thousands | 110,595 | PDF p. 67 |
| Equity | ||
| Share capitalSingapore dollars thousands | 56,144 | PDF p. 67 |
| Retained earningsSingapore dollars thousands | 7,639 | PDF p. 67 |
| Other reservesSingapore dollars thousands | – | PDF p. 67 |
| Equity attributable to owners of the parentSingapore dollars thousands | 63,783 | PDF p. 67 |
| Non-controlling interestsSingapore dollars thousands | – | PDF p. 67 |
| Total equitySingapore dollars thousands | 63,783 | PDF p. 67 |
| Non-current liabilities | ||
| Other financial liabilities, non-currentSingapore dollars thousands | 2,438 | PDF p. 67 |
| Lease liabilities, non-currentSingapore dollars thousands | – | PDF p. 67 |
| Deferred tax liabilitiesSingapore dollars thousands | – | PDF p. 67 |
| Total non-current liabilitiesSingapore dollars thousands | 2,438 | PDF p. 67 |
| Current liabilities | ||
| Income tax payableSingapore dollars thousands | – | PDF p. 67 |
| Trade and other payablesSingapore dollars thousands | 40,812 | PDF p. 67 |
| Other financial liabilities, currentSingapore dollars thousands | 3,562 | PDF p. 67 |
| Lease liabilities, currentSingapore dollars thousands | – | PDF p. 67 |
| Other liabilitiesSingapore dollars thousands | – | PDF p. 67 |
| Total current liabilitiesSingapore dollars thousands | 44,374 | PDF p. 67 |
| Total liabilitiesSingapore dollars thousands | 46,812 | PDF p. 67 |
| Total equity and liabilitiesSingapore dollars thousands | 110,595 | PDF p. 67 |
Definitions & sources
Original report: PDF p. 67 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Group changes in equity / 2021
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 / Share capital | 2021Group / year ended December31, 2021 / Retained earnings | 2021Group / year ended December31, 2021 / Other reserves | 2021Group / year ended December31, 2021 / Attributable to parent sub-total | 2021Group / year ended December31, 2021 / Non-controlling interests | 2021Group / year ended December31, 2021 / Total equity | Source |
|---|---|---|---|---|---|---|---|
| Previous year: | |||||||
| Opening balance at 1 January 2021Singapore dollars thousands | 56,144 | 41,699 | (263) | 97,580 | 6,579 | 104,159 | PDF p. 68 |
| Changes in equity: | |||||||
| Total comprehensive income for the yearSingapore dollars thousands | – | 19,805 | 165 | 19,970 | 1,321 | 21,291 | PDF p. 68 |
| Dividends paid (Note 12)Singapore dollars thousands | – | (4,175) | – | (4,175) | – | (4,175) | PDF p. 68 |
| Closing balance at 31 December 2021Singapore dollars thousands | 56,144 | 57,329 | (98) | 113,375 | 7,900 | 121,275 | PDF p. 68 |
Definitions & sources
Original report: PDF p. 68 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Company changes in equity / 2021
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Company / year ended December31, 2021 / Share capital | 2021Company / year ended December31, 2021 / Retained earnings | 2021Company / year ended December31, 2021 / Total equity | Source |
|---|---|---|---|---|
| Previous year: | ||||
| Opening balance at 1 January 2021Singapore dollars thousands | 56,144 | 8,092 | 64,236 | PDF p. 69 |
| Changes in equity: | ||||
| Total comprehensive income for the yearSingapore dollars thousands | – | 3,722 | 3,722 | PDF p. 69 |
| Dividends paid (Note 12)Singapore dollars thousands | – | (4,175) | (4,175) | PDF p. 69 |
| Closing balance at 31 December 2021Singapore dollars thousands | 56,144 | 7,639 | 63,783 | PDF p. 69 |
Definitions & sources
Original report: PDF p. 69 ↗
All periods end on31December. Primary statements use Singapore dollars thousands; EPS uses Singapore cents per share. Group and Company scopes remain distinct.
Four official annual reports provide five primary years2021–2025. Latest available comparative columns are selected. No separate Company income or cash-flow statement is printed.
FY2025 earnings per share and five-year highlights retrospectively adjust prior share bases for the one-for-one bonus issue on17September2025. Earlier original primary EPS values retain their own reporting bases.
Original comparative cash-flow cash reconciliation
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group / year ended December31, 2021 | Source |
|---|---|---|
| Cash-flow cash reconciliation | ||
| Amount as shown aboveSingapore dollars thousands | 19,772 | PDF p. 102 |
| Bank overdrafts (Note 25)Singapore dollars thousands | (1,908) | PDF p. 102 |
| Cash and cash equivalents for statement of cash flows purposes at end of the yearSingapore dollars thousands | 17,864 | PDF p. 102 |
Definitions & sources
Original report: PDF p. 102 ↗
Where the money comes from
Segment information
By business
Operating segments 2025 ($'000) 11 lines
| Item / unit | 2025Pawnbroking | 2025Retail and trading of gold and luxury items | 2025Secured lending | 2025Others | 2025Elimination | 2025Group | Source |
|---|---|---|---|---|---|---|---|
| Revenue by segment | |||||||
| Revenue from external customers$'000 | 97,125 | 420,143 | 24,252 | 423 | – | 541,943 | PDF p. 89 |
| Inter-segment sales$'000 | 40,829 | – | – | – | (40,829) | – | PDF p. 89 |
| Results | |||||||
| Segment results$'000 | 60,742 | 53,391 | 16,499 | 25,854 | (26,813) | 129,673 | PDF p. 89 |
| Finance costs$'000 | (18,784) | (2,540) | (9,758) | (6,538) | 3,792 | (33,828) | PDF p. 89 |
| Profit before income tax$'000 | 41,958 | 50,851 | 6,741 | 19,316 | (23,021) | 95,845 | PDF p. 89 |
| Income tax expense$'000 | (8,694) | (9,668) | (971) | (235) | – | (19,568) | PDF p. 89 |
| Profit, net of tax$'000 | 33,264 | 41,183 | 5,770 | 19,081 | (23,021) | 76,277 | PDF p. 89 |
| Assets | |||||||
| Segment assets$'000 | 790,041 | 164,081 | 277,679 | 245,341 | (241,826) | 1,235,316 | PDF p. 89 |
| Liabilities | |||||||
| Segment liabilities$'000 | 576,309 | 85,231 | 224,850 | 251,716 | (190,559) | 947,547 | PDF p. 89 |
| Other | |||||||
| Capital expenditure$'000 | 997 | 641 | 25 | 26 | – | 1,689 | PDF p. 89 |
| Depreciation and amortisation$'000 | 4,584 | 8,237 | 26 | 469 | – | 13,316 | PDF p. 89 |
Notes
Unallocated assets/liabilities and Total assets/liabilities rows print a single value in the Group column only.
Notes: A. Inter-segment revenues are eliminated. B. Items deducted from segment results to arrive at profit before income tax: Profit from inter-segment sales 26,813 (2025), 16,391 (2024). C. Deducted from segment assets: Inter-segment balances 241,690 (2025), 79,293 (2024); Unrealised profit on unsold inventories 136 (2025), 72 (2024); total 241,826 and 79,365. D. Deducted from segment liabilities: Inter-segment balances 190,559 (2025), 28,041 (2024).
Unallocated items comprise mainly income tax recoverable, provision for taxation, deferred tax liabilities and deferred tax assets. Capital expenditure comprises additions to property, plant and equipment.
Operating segments 2024 ($'000) 11 lines
| Item / unit | 2024Pawnbroking | 2024Retail and trading of gold and luxury items | 2024Secured lending | 2024Others | 2024Elimination | 2024Group | Source |
|---|---|---|---|---|---|---|---|
| Revenue by segment | |||||||
| Revenue from external customers$'000 | 66,415 | 294,482 | 28,616 | 555 | – | 390,068 | PDF p. 90 |
| Inter-segment sales$'000 | 33,072 | – | 5 | – | (33,077) | – | PDF p. 90 |
| Results | |||||||
| Segment results$'000 | 37,029 | 27,466 | 20,669 | 14,850 | (16,391) | 83,623 | PDF p. 90 |
| Finance costs$'000 | (14,931) | (2,743) | (10,457) | (4,400) | 1,463 | (31,068) | PDF p. 90 |
| Profit before income tax$'000 | 22,098 | 24,723 | 10,212 | 10,450 | (14,928) | 52,555 | PDF p. 90 |
| Income tax expense$'000 | (4,421) | (4,802) | (1,603) | (84) | – | (10,910) | PDF p. 90 |
| Profit, net of tax$'000 | 17,677 | 19,921 | 8,609 | 10,366 | (14,928) | 41,645 | PDF p. 90 |
| Assets | |||||||
| Segment assets$'000 | 511,866 | 116,040 | 285,648 | 90,744 | (79,365) | 924,933 | PDF p. 90 |
| Liabilities | |||||||
| Segment liabilities$'000 | 341,238 | 66,725 | 234,960 | 103,770 | (28,041) | 718,652 | PDF p. 90 |
| Other | |||||||
| Capital expenditure$'000 | 830 | 1,027 | 5 | – | – | 1,862 | PDF p. 90 |
| Depreciation and amortisation$'000 | 3,991 | 7,737 | 20 | 463 | – | 12,211 | PDF p. 90 |
Notes
Unallocated and Total rows print a single value in the Group column only.
Notes A–D as printed on pages 90–91: A. Inter-segment revenues are eliminated. B. Profit from inter-segment sales 26,813 (2025), 16,391 (2024) deducted from segment results. C. Inter-segment balances 241,690 / 79,293 and unrealised profit on unsold inventories 136 / 72 deducted from segment assets (total 241,826 / 79,365). D. Inter-segment balances 190,559 / 28,041 deducted from segment liabilities.
Information about major customers ($'000) 2 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Major customers | |||
| Top 1 customer$'000 | 202,360 | 132,929 | PDF p. 91 |
| Top 2 customers$'000 | 224,877 | 132,949 | PDF p. 91 |
Notes
The major customers are from wholesale trading of gold and luxury items segment.
By geography
Geographical information – Revenue ($'000) 3 lines
| Item / unit | 2025Revenue | 2024Revenue | Source |
|---|---|---|---|
| Revenue | |||
| Singapore$'000 | 463,185 | 338,975 | PDF p. 91 |
| Malaysia$'000 | 78,758 | 51,093 | PDF p. 91 |
| Total$'000 | 541,943 | 390,068 | PDF p. 91 |
Notes
Revenues are attributed to countries on the basis of the customer’s location, irrespective of the origin of the goods and services.
Total row has no printed label.
Geographical information – Non-current assets ($'000) 3 lines
| Item / unit | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|
| Non-current assets | |||
| Singapore$'000 | 211,208 | 202,799 | PDF p. 91 |
| Malaysia$'000 | 11,637 | 9,758 | PDF p. 91 |
| Total$'000 | 222,845 | 212,557 | PDF p. 91 |
Notes
The non-current assets are analysed by the geographical area in which the assets are located. The non-current assets exclude deferred tax assets.
Total row has no printed label.
Debt
Borrowings
Liquidity risk – Group contractual undiscounted maturity
| Item / unit | 2025Less than 1 year | 20251–5 years | 2025Over 5 years | 2025Total | Source |
|---|---|---|---|---|---|
| 2025 | |||||
| Gross borrowing commitments$'000 | 676,347 | 219,146 | 25,533 | 921,026 | PDF p. 125 |
| Gross lease liabilities$'000 | 10,357 | 4,944 | – | 15,301 | PDF p. 125 |
Notes
Contractual and undiscounted cash flows.
Liquidity risk – Group contractual undiscounted maturity
| Item / unit | 2024Less than 1 year | 20241–5 years | 2024Over 5 years | 2024Total | Source |
|---|---|---|---|---|---|
| 2024 | |||||
| Gross borrowing commitments$'000 | 557,471 | 97,468 | 14,885 | 669,824 | PDF p. 125 |
| Gross lease liabilities$'000 | 10,729 | 7,107 | – | 17,836 | PDF p. 125 |
Notes
Contractual and undiscounted cash flows.
Borrowing notes 6 tables
Other financial liabilities (borrowings)
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current | |||||
| Bank loans (secured)$'000 | 118,511 | 100,438 | – | – | PDF p. 112 |
| Bank loans (unsecured)$'000 | 374 | 1,786 | – | 639 | PDF p. 112 |
| Medium-term notes (unsecured)$'000 | 100,000 | – | – | – | PDF p. 112 |
| Subtotal$'000 | 218,885 | 102,224 | – | 639 | PDF p. 112 |
| Current | |||||
| Bank overdrafts (secured) (Note 21A)$'000 | 4,692 | 6,658 | – | – | PDF p. 112 |
| Bank loans (secured)$'000 | 535,890 | 453,228 | – | – | PDF p. 112 |
| Bank loans (unsecured)$'000 | 12,565 | 14,782 | 9,139 | 8,869 | PDF p. 112 |
| Commercial papers (unsecured)$'000 | 96,540 | 54,040 | 22,160 | 54,040 | PDF p. 112 |
| Subtotal$'000 | 649,687 | 528,708 | 31,299 | 62,909 | PDF p. 112 |
| Total | |||||
| Total$'000 | 868,572 | 630,932 | 31,299 | 63,548 | PDF p. 112 |
Notes
Group total bank loans $667,340,000 (2024: $570,234,000). Commercial papers: $22,160,000 364-day Series 012 and $74,380,000 91-day Series 002, both maturing 12 March 2026. MTN: $100,000,000 Series 001 at 5.00% p.a. maturing 30 October 2028. Term loans mature between 2025 to 2040. Currency: Singapore dollars ($).
Non-current portion repayable
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current portion repayable | |||
| Due within 2 – 5 years$'000 | 192,626 | 89,637 | PDF p. 113 |
| Due over 5 years$'000 | 26,259 | 12,587 | PDF p. 113 |
Notes
Total 218,885 (2025) and 102,224 (2024).
Range of floating interest rates paid
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Interest rates | |||||
| Medium-term notes% | 5.00 | – | – | – | PDF p. 113 |
Lease liabilities
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current | |||
| Finance lease liabilities$'000 | 69 | 141 | PDF p. 115 |
| Other lease liabilities$'000 | 4,809 | 6,370 | PDF p. 115 |
| Current | |||
| Finance lease liabilities$'000 | 78 | 85 | PDF p. 115 |
| Other lease liabilities$'000 | 9,530 | 10,241 | PDF p. 115 |
| Total | |||
| Total$'000 | 14,486 | 16,837 | PDF p. 115 |
Notes
Weighted average incremental borrowing rate 5.6% (2025) and 5.6% (2024); finance lease effective interest about 1.99% (2024: 1.99%).
Liquidity risk – Company borrowing commitments
| Item / unit | 2025Less than 1 year | 20251–5 years | 2025Total | Source |
|---|---|---|---|---|
| 2025 | ||||
| Gross borrowing commitments$'000 | 32,396 | – | 32,396 | PDF p. 125 |
Liquidity risk – Company borrowing commitments
| Item / unit | 2024Less than 1 year | 20241–5 years | 2024Total | Source |
|---|---|---|---|---|
| 2024 | ||||
| Gross borrowing commitments$'000 | 64,095 | 651 | 64,746 | PDF p. 125 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | Currently, the Company does not have a fixed dividend policy. Any declaration and payment of dividends in the future will depend on, inter alia, the Group's operating results, financial conditions, other cash requirements including capital expenditures, and other factors deemed relevant by the Directors. | Company | PDF p. 50 |
| Scrip Dividend Scheme | Resolution 10, if passed, will empower the Directors to allot and issue Shares from time to time pursuant to the Scrip Dividend Scheme. | Company | PDF p. 144 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| First and final tax exempt (one-tier) dividend | 1.50 cents per share | Proposed FY2025 (2025 column), not recognised as liability at 31 December 2025; Company | PDF p. 97 |
| Special tax exempt (one-tier) dividend | 0.50 cents per share | Proposed FY2025 (2025 column), not recognised as liability at 31 December 2025; Company | PDF p. 97 |
| First and final tax exempt (one-tier) dividend | 1.40 cents per share | Declared and paid during FY2025 (2025 column; in respect of FY2024); Company | PDF p. 97 |
| Dividend per ordinary share (S$ cents) | 2.00 cents per share | FY2025 total (final 1.50 + special 0.50) | PDF p. 9 |
| Dividend per ordinary share (S$ cents) | 1.40 cents per share | FY2024 comparative total | PDF p. 9 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend payout ratio (%)³ | 24.7% | FY2025 | PDF p. 9 |
| Dividend payout ratio (%)³ | 16.2% | FY2024 comparative | PDF p. 9 |
Extracted from annual report and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | RSM SG Assurance LLP | Group and company, year ended 31 December 2025 | PDF p. 69 |
| Engagement partner | Lee Mong Sheong | Group and company | PDF p. 69 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Assessment of expected credit losses on trade receivables and existence of pledged loan receivables | Management applies judgement in determining the appropriate allowance for ECL on trade receivables based upon an assessment of the collateral concerned | Group | PDF p. 65 |
| Impairment and existence of inventories | Management applies judgement in determining the appropriate allowance for inventories based upon an assessment of inventories concerned | Group | PDF p. 67 |
Extracted from annual report and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow annual report, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Primary financial statements cover years ended31December2021–2025, using four official annual reports. Singapore dollars thousands; EPS and per-share dividends are Singapore cents. Group and Company scopes are distinct.
RSM SG Assurance LLP issued an unmodified FY2025opinion signed7April2026, engagement partner Lee Mong Sheong. Group consolidated statements and Company financial position/equity movements are printed. No separate Company income or cash-flow statement is supplied.
Five-year highlights explicitly define ROE as owner profit divided by average owner equity. Net margin uses profit including NCI. The1-for-1bonus issue completed17September2025retrospectively adjusts prior EPS and NAV/share for comparison. Earlier original primary EPS retain their original prebonus share bases. Historical dividend/share figures retain historical bases; dividing them by bonus-adjusted historical EPS does not reproduce original payout ratios.
FY2025bank cash28,430thousand less pledged406and bank overdrafts4,692equals cash-flow cash23,332. FY2024/FY2023/FY2022/FY2021cash-flow cash18,669/12,426/19,492/17,864is grossbankcash25,327/18,470/20,911/19,772lessoverdraft6,658/6,044/1,419/1,908. Gross bank cash and CFcash remain distinct.
Dividends paid during2025are6,192thousand at1.40cents on the prebonus basis. Proposed FY2025first/final1.50cents/13,268thousand and special0.50cent/4,422thousand are not year-end liabilities or FY2025cash paid. Their combined2.00cents uses the postbonus884,499,998share base.
Three original rate/cash comparisons differ by1thousand from multiplying the printed rate by the disclosed ordinary-share base and rounding: FY2025paid6,192vs6,191; FY2025proposedfirst/final13,268vs13,267; FY2024proposedfirst/final6,192vs6,191. Original values are retained; an unprinted exact cash-rounding basis is not invented.
Official19April2024corrigendum replaces FY2023Note31F(printedpage107,physical109)only. Revised2023fixed/floating interest-bearing liabilities are224,966/322,157thousand,total547,123;100basis-point pretax sensitivity3,222thousand, replacing53,883/493,240and4,932in the original. FY2022comparatives229,919/230,593,total460,512,sensitivity2,306are unchanged. The correction PDF is archived separately; original annual pages remain immutable.
No formal EBITDA or net-gearing five-year series is printed. No undisclosed EBITDA calculation or gearing definition is supplied.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.