AsiaPhos 5WV

SGD 0.008 +0.00% +0.00 Updated 12 Nov 2026, 14:13 SGT

Financials

Annual Report 2025

Open annual report

Explore the statements

9 tables

Statements of Financial Position – Group and Company, as at 31 December 2025

26 metrics

Units appear below each metric. Scroll to compare years

Statements of Financial Position – Group and Company, as at 31 December 2025 from Annual Report 2025
Metric / unit	2025The Group	2024The Group	2025The Company	2024The Company	Source
Assets - Non-current
Property, plant and equipment$'000	13	46	-	-	PDF p. 52
Right-of-use assets$'000	140	179	-	-	PDF p. 52
Goodwill$'000	-	263	-	-	PDF p. 52
Investment in subsidiaries$'000	-	-	-	-	PDF p. 52
Assets - Non-current subtotal
Subtotal$'000	153	488	-	-	PDF p. 52
Assets - Current
Inventories$'000	73	37	-	-	PDF p. 52
Trade receivables$'000	768	1,714	-	-	PDF p. 52
Other receivables and prepayments$'000	522	928	30	780	PDF p. 52
Amounts due from subsidiaries$'000	-	-	1,470	4,742	PDF p. 52
Cash and bank balances$'000	1,019	1,425	326	120	PDF p. 52
Assets - Current subtotal
Subtotal$'000	2,382	4,104	1,826	5,642	PDF p. 52
Assets
Total Assets$'000	2,535	4,592	1,826	5,642	PDF p. 52
Equity - Capital and reserves
Share capital$'000	80,703	80,703	80,703	80,703	PDF p. 52
Reserves$'000	(79,010)	(77,319)	(79,079)	(77,158)	PDF p. 52
Equity
Equity attributable to owners of the Company$'000	1,693	3,384	1,624	3,545	PDF p. 52
Non-controlling interests$'000	(56)	39	-	-	PDF p. 52
Total equity$'000	1,637	3,423	1,624	3,545	PDF p. 52
Liabilities - Non-current
Provision for reinstatement costs$'000	26	26	-	-	PDF p. 52
Lease liability$'000	96	128	-	-	PDF p. 52
Liabilities - Non-current subtotal
Subtotal$'000	122	154	-	-	PDF p. 52
Liabilities - Current
Trade and other payables$'000	744	984	202	299	PDF p. 52
Lease liability$'000	32	31	-	-	PDF p. 52
Amounts due to subsidiaries$'000	-	-	-	1,798	PDF p. 52
Liabilities - Current subtotal
Subtotal$'000	776	1,015	202	2,097	PDF p. 52
Liabilities
Total liabilities$'000	898	1,169	202	2,097	PDF p. 52
Equity and liabilities
Total equity and liabilities$'000	2,535	4,592	1,826	5,642	PDF p. 52

Definitions & sources

Original report: PDF p. 52 ↗

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

Consolidated Statement of Comprehensive Income – Group, financial year ended 31 December 2025

25 metrics

Units appear below each metric. Scroll to compare years

Consolidated Statement of Comprehensive Income – Group, financial year ended 31 December 2025 from Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Continuing operations
Revenue$'000	5,315	4,291	PDF p. 53
Cost of sales$'000	(4,883)	(3,924)	PDF p. 53
Gross profit$'000	432	367	PDF p. 53
Other income$'000	55	282	PDF p. 53
Selling and distribution costs$'000	(107)	(74)	PDF p. 53
General and administrative expenses$'000	(1,669)	(2,208)	PDF p. 53
Finance costs$'000	(42)	(245)	PDF p. 53
Net impairment loss on financial assets$'000	(167)	(692)	PDF p. 53
Impairment loss on non-financial assets$'000	(263)	-	PDF p. 53
Loss before tax from continuing operations$'000	(1,761)	(2,570)	PDF p. 53
Income tax expense$'000	(25)	(15)	PDF p. 53
Loss from continuing operations, net of tax$'000	(1,786)	(2,585)	PDF p. 53
Discontinued operations
Profit from discontinued operations, net of tax$'000	-	3,707	PDF p. 53
Profit for the year
(Loss)/profit for the year$'000	(1,786)	1,122	PDF p. 53
Other comprehensive income - Items that may be reclassified subsequently to profit or loss
Foreign currency translation gain on consolidation of foreign operations, at nil tax$'000	-	101	PDF p. 53
Other comprehensive income
Total comprehensive (loss)/profit for the year$'000	(1,786)	1,223	PDF p. 53
(Loss)/profit for the year attributable to: Owners of the Company
- Loss from continuing operations, net of tax$'000	(1,691)	(2,533)	PDF p. 53
- Profit from discontinued operations, net of tax$'000	-	3,707	PDF p. 53
(Loss)/profit for the year attributable to: Owners of the Company subtotal
Subtotal$'000	(1,691)	1,174	PDF p. 53
(Loss)/profit for the year attributable to: Non-controlling interest
- Loss from continuing operations, net of tax$'000	(95)	(52)	PDF p. 53
Total comprehensive (loss)/profit for the year attributable to
Owners of the Company$'000	(1,691)	1,275	PDF p. 53
Non-controlling interest$'000	(95)	(52)	PDF p. 53
(Loss)/earnings per share (cents per share) - Basic and diluted
- Continuing and discontinued operationscents per share	(0.11)	0.10	PDF p. 53
- Continuing operationscents per share	(0.11)	(0.20)	PDF p. 53
- Discontinued operationscents per share	-	0.30	PDF p. 53

Definitions & sources

Original report: PDF p. 53 ↗

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

Only a consolidated (Group) statement of comprehensive income is presented; no separate Company income statement was found on page 53.

Consolidated Statement of Comprehensive Income (Group)

24 metrics

Units appear below each metric. Scroll to compare years

Consolidated Statement of Comprehensive Income (Group) from Annual Report 2025
Metric / unit	2025Group, FY ended 31 Dec 2025	2024Group, FY ended 31 Dec 2024	Source
Continuing operations
Revenue$’000	5,315	4,291	PDF p. 53
Cost of sales$’000	(4,883)	(3,924)	PDF p. 53
Gross profit$’000	432	367	PDF p. 53
Other income$’000	55	282	PDF p. 53
Selling and distribution costs$’000	(107)	(74)	PDF p. 53
General and administrative expenses$’000	(1,669)	(2,208)	PDF p. 53
Finance costs$’000	(42)	(245)	PDF p. 53
Net impairment loss on financial assets$’000	(167)	(692)	PDF p. 53
Impairment loss on non-financial assets$’000	(263)	-	PDF p. 53
Loss before tax from continuing operations$’000	(1,761)	(2,570)	PDF p. 53
Income tax expense$’000	(25)	(15)	PDF p. 53
Loss from continuing operations, net of tax$’000	(1,786)	(2,585)	PDF p. 53
Discontinued operations
Profit from discontinued operations, net of tax$’000	-	3,707	PDF p. 53
Profit for the year
(Loss)/profit for the year$’000	(1,786)	1,122	PDF p. 53
Other comprehensive income
Foreign currency translation gain on consolidation of foreign operations, at nil tax$’000	-	101	PDF p. 53
Total comprehensive (loss)/profit for the year$’000	(1,786)	1,223	PDF p. 53
Profit attributable to Owners of the Company
- Loss from continuing operations, net of tax$’000	(1,691)	(2,533)	PDF p. 53
- Profit from discontinued operations, net of tax$’000	-	3,707	PDF p. 53
Profit attributable to Non-controlling interest
- Loss from continuing operations, net of tax$’000	(95)	(52)	PDF p. 53
Total comprehensive (loss)/profit attributable to
Owners of the Company$’000	(1,691)	1,275	PDF p. 53
Non-controlling interest$’000	(95)	(52)	PDF p. 53
(Loss)/earnings per share
- Continuing and discontinued operationscents per share	(0.11)	0.10	PDF p. 53
- Continuing operationscents per share	(0.11)	(0.20)	PDF p. 53
- Discontinued operationscents per share	-	0.30	PDF p. 53

Definitions & sources

Original report: PDF p. 53 ↗

Amounts in $’000. Continuing operations and discontinued operations shown separately. Earnings per share in cents per share. No separate Company statement of comprehensive income was printed.

Consolidated Statement of Cash Flows (Group) - operating and investing

26 metrics

Units appear below each metric. Scroll to compare years

Consolidated Statement of Cash Flows (Group) - operating and investing from Annual Report 2025
Metric / unit	2025Group, FY ended 31 Dec 2025	2024Group, FY ended 31 Dec 2024	Source
(Loss)/profit before tax from
- Continuing operations$’000	(1,761)	(2,570)	PDF p. 55
- Discontinued operations$’000	-	3,707	PDF p. 55
Operating activities
(Loss)/profit before taxation$’000	(1,761)	1,137	PDF p. 55
Adjustments for
Depreciation and amortisation expenses$’000	33	10	PDF p. 55
Depreciation of right-of-use assets$’000	39	37	PDF p. 55
Reversal of over-accruals of liabilities$’000	-	(147)	PDF p. 55
Interest expense$’000	42	266	PDF p. 55
Impairment loss on other receivables and prepayments, net$’000	49	593	PDF p. 55
Impairment loss on trade receivables, net$’000	118	99	PDF p. 55
Impairment loss on goodwill$’000	263	-	PDF p. 55
Interest income$’000	-	(19)	PDF p. 55
Gain on disposal of subsidiaries$’000	-	(3,728)	PDF p. 55
Unrealised exchange loss/(gain)$’000	5	(63)	PDF p. 55
Operating activities
Operating loss before working capital changes$’000	(1,212)	(1,815)	PDF p. 55
Change in inventories$’000	(36)	6	PDF p. 55
Change in trade and other receivables$’000	1,187	(3,394)	PDF p. 55
Change in trade and other payables$’000	(265)	298	PDF p. 55
Cash used in operations$’000	(326)	(4,905)	PDF p. 55
Interest received$’000	-	19	PDF p. 55
Tax (paid)/received$’000	(36)	42	PDF p. 55
Net cash used in operating activities$’000	(362)	(4,844)	PDF p. 55
Investing activities
Payments for acquisition of property, plant and equipment$’000	-	(28)	PDF p. 55
Payment received on disposal of assets$’000	-	9,807	PDF p. 55
Acquisition of subsidiary, net of cash acquired$’000	-	30	PDF p. 55
Disposal of subsidiaries, net of cash disposed of$’000	-	(207)	PDF p. 55
Net cash generated from investing activities$’000	-	9,602	PDF p. 55

Definitions & sources

Original report: PDF p. 55 ↗

Amounts in $’000. Continues on page 56 (financing). No separate Company cash flow statement printed.

Consolidated Statement of Cash Flows (Group) - financing and closing cash

12 metrics

Units appear below each metric. Scroll to compare years

Consolidated Statement of Cash Flows (Group) - financing and closing cash from Annual Report 2025
Metric / unit	2025Group, FY ended 31 Dec 2025	2024Group, FY ended 31 Dec 2024	Source
Financing activities
Repayment of bank loan$’000	-	(3,390)	PDF p. 56
Decrease in pledged deposits$’000	-	241	PDF p. 56
Payments of principal portion of lease liability$’000	(31)	(30)	PDF p. 56
Repayment of loan from a director$’000	-	(1,053)	PDF p. 56
Repayment of loan from a controlling shareholder$’000	-	(423)	PDF p. 56
Interest paid$’000	(7)	(27)	PDF p. 56
Proceeds from issuance of rights shares$’000	-	905	PDF p. 56
Net cash used in financing activities$’000	(38)	(3,777)	PDF p. 56
Closing cash
Net (decrease)/increase in cash and cash equivalents$’000	(400)	981	PDF p. 56
Effect of exchange rate changes on cash and cash equivalents$’000	(6)	18	PDF p. 56
Cash and cash equivalents at beginning of the year$’000	1,425	426	PDF p. 56
Cash and cash equivalents at end of the year$’000	1,019	1,425	PDF p. 56

Definitions & sources

Original report: PDF p. 56 ↗

Amounts in $’000.

Financial Review – Income Statement (Group)

14 metrics

Units appear below each metric. Scroll to compare years

Financial Review – Income Statement (Group) from Annual Report 2025
Metric / unit	2025Group FY2025 $'000	2024Group FY2024 $'000	2025Change (%), FY2025 vs FY2024	Source
Continuing operations
Revenue$'000	5,315	4,291	24	PDF p. 6
Cost of sales$'000	(4,883)	(3,924)	24	PDF p. 6
Gross profit$'000	432	367	18	PDF p. 6
Other income$'000	55	282	(80)	PDF p. 6
Selling and distribution costs$'000	(107)	(74)	45	PDF p. 6
Continuing operations (General and administrative costs)
costs$'000	(1,669)	(2,208)	(24)	PDF p. 6
Continuing operations
Finance costs$'000	(42)	(245)	(83)	PDF p. 6
Continuing operations (Net impairment loss on financial assets)
financial assets$'000	(167)	(692)	(76)	PDF p. 6
Continuing operations (Impairment loss on non-financial assets)
financial assets$'000	(263)	–	N.M.	PDF p. 6
Continuing operations (Loss before tax from continuing operations)
continuing operations$'000	(1,761)	(2,570)	(31)	PDF p. 6
Continuing operations
Income tax expense$'000	(25)	(15)	67	PDF p. 6
Continuing operations (Loss from continuing operations, net of tax)
operations, net of tax$'000	(1,786)	(2,585)	(31)	PDF p. 6
Discontinued operation (Profit from discontinued operations, net of tax)
operations, net of tax$'000	–	3,707	(100)	PDF p. 6
Total
(Loss)/Profit for the year$'000	(1,786)	1,122	N.M.	PDF p. 6

Definitions & sources

Original report: PDF p. 6 ↗

“N.M.” denotes not meaningful

Gross profit margin printed as 8% (FY2025) and 9% (FY2024); text: Gross profit margin was 8% in FY2025, compared to 9% in FY2024.

Financial Review – Balance Sheet (Group)

22 metrics

Units appear below each metric. Scroll to compare years

Financial Review – Balance Sheet (Group) from Annual Report 2025
Metric / unit	2025Group FY2025 $'000	2024Group FY2024 $'000	2025Change (%), FY2025 vs FY2024	Source
Assets
Non-current assets$'000	153	488	(69)	PDF p. 7
Right-of-use assets$'000	140	179	(22)	PDF p. 7
Property, plant and equipment$'000	13	46	(72)	PDF p. 7
Goodwill$'000	–	263	(100)	PDF p. 7
Current assets$'000	2,382	4,104	(42)	PDF p. 7
Inventories$'000	73	37	97	PDF p. 7
Trade receivables$'000	768	1,714	(55)	PDF p. 7
Assets (Other receivables and prepayments)
prepayments$'000	522	928	(44)	PDF p. 7
Assets
Cash and bank balances$'000	1,019	1,425	(28)	PDF p. 7
Liabilities
Non-current liabilities$'000	122	154	(21)	PDF p. 7
Liabilities (Provision for reinstatement costs)
costs$'000	26	26	0	PDF p. 7
Non-current liabilities
Lease liability$'000	96	128	(25)	PDF p. 7
Liabilities
Current liabilities$'000	776	1,015	(24)	PDF p. 7
Current liabilities
Trade and other payables$'000	744	984	(24)	PDF p. 7
Lease liability$'000	32	31	3	PDF p. 7
Totals
Net current assets$'000	1,606	3,089	(48)	PDF p. 7
Net assets$'000	1,637	3,423	(52)	PDF p. 7
Equity
Share capital$'000	80,703	80,703	0	PDF p. 7
Reserves$'000	(79,010)	(77,319)	2	PDF p. 7
Equity (Equity attributable to owners of the Company)
owners of the Company$'000	1,693	3,384	(50)	PDF p. 7
Equity
Non-controlling interests$'000	(56)	39	N.M.	PDF p. 7
Total equity$'000	1,637	3,423	(52)	PDF p. 7

Definitions & sources

Original report: PDF p. 7 ↗

“N.M.” denotes not meaningful

Financial Review – Cash Flow (Group)

6 metrics

Units appear below each metric. Scroll to compare years

Financial Review – Cash Flow (Group) from Annual Report 2025
Metric / unit	2025Group FY2025 $'000	2024Group FY2024 $'000	2025Change (%), FY2025 vs FY2024	Source
Net cash used in operating activities
activities$'000	(362)	(4,844)	(93)	PDF p. 8
Net cash generated from investing activities
investing activities$'000	–	9,602	(100)	PDF p. 8
Net cash used in financing activities
activities$'000	(38)	(3,777)	(99)	PDF p. 8
Net increase/(decrease) in cash and cash equivalents
cash and cash equivalents$'000	(400)	981	N.M.	PDF p. 8
Effect of exchange rate changes on cash and cash equivalents
equivalents$'000	(6)	18	N.M.	PDF p. 8
Cash and cash equivalents at end of the year
at end of the year$'000	1,019	1,425	(28)	PDF p. 8

Definitions & sources

Original report: PDF p. 8 ↗

“N.M.” denotes not meaningful

Beginning-of-year row values 1,425 / 426 / 235 are on the line 'Cash and cash equivalents at beginning of the year 1,425 426 235'; quote shortened to label fragment because of wrapping.

Note 24 – (Loss)/earnings per share (Group)

3 metrics

Units appear below each metric. Scroll to compare years

Note 24 – (Loss)/earnings per share (Group) from Annual Report 2025
Metric / unit	2025The Group, year ended 31 December 2025	2024The Group, year ended 31 December 2024	Source
(Loss)/earnings per share – Basic and diluted
- Continuing and discontinued operationscents per share	(0.11)	0.10	PDF p. 101
- Continuing operationscents per share	(0.11)	(0.20)	PDF p. 101
- Discontinued operationscents per share	-	0.30	PDF p. 101

Definitions & sources

Original report: PDF p. 101 ↗

Profit/(loss) used in EPS computation ($'000): 31 December 2025 – continuing (1,691), discontinued -, total (1,691); 31 December 2024 – continuing (2,533), discontinued 3,707, total 1,174.

Where the money comes from

Segment information

By business

Operating segments (Note 25) 7 lines

Operating segments (Note 25)
Item / unit	2025Exploration, mining and sale of phosphate rocks (Discontinued operations), 31 December 2025	2024Exploration, mining and sale of phosphate rocks (Discontinued operations), 31 December 2024	2025Trading of phosphate chemical products (Continuing operations), 31 December 2025	2024Trading of phosphate chemical products (Continuing operations), 31 December 2024	2025Trading of other commodity products (Continuing operations), 31 December 2025	2024Trading of other commodity products (Continuing operations), 31 December 2024	2025Adjustments and eliminations, 31 December 2025	2024Adjustments and eliminations, 31 December 2024	2025Total (Continuing operations), 31 December 2025	2024Total (Continuing operations), 31 December 2024	Source
Segment results
Revenue - external$'000	-	-	1,684	1,025	3,631	3,266	-	-	5,315	4,291	PDF p. 102
Depreciation of right-of-use asset$'000	-	-	(39)	(37)	-	-	-	-	(39)	(37)	PDF p. 102
Interest income$'000	-	-	-	3	-	-	-	16	-	19	PDF p. 102
Gain on disposal of subsidiaries$'000	-	3,728	-	-	-	-	-	(3,728)	-	-	PDF p. 102
Finance costs$'000	-	(21)	(7)	(72)	(35)	(14)	-	(138)	(42)	(245)	PDF p. 102
Impairment loss on goodwill$'000	-	-	-	-	(263)	-	-	-	(263)	-	PDF p. 102
Segment profit/(loss) before tax$'000	-	3,707	199	42	(137)	64	(1,823)	(6,383)	(1,761)	(2,570)	PDF p. 102

Notes

Following the cessation of the business activities of the upstream segment, the Group's continuing operations comprise only the downstream segment, being the trading of phosphate chemical products and trading of non-chemical products (other commodity products).

Wrapped-label rows not extracted individually: Depreciation of property, plant and equipment (33)/(10) total; Impairment loss on other receivables and prepayments, net (Note 10) (49)/(593) total; (Impairment loss)/reversal of impairment loss on trade receivables, net (Note 9) (118)/(99) total; Additions to property, plant and equipment 31 in 2024 phosphate chemical column, - elsewhere.

Segment assets and liabilities reconciliation 7 lines

Segment assets and liabilities reconciliation — The Group
Item / unit	202531 December 2025	202431 December 2024	Source
Assets
Segment assets$'000	2,179	3,692	PDF p. 103
Other receivables and prepayments$'000	30	780	PDF p. 103
Cash and bank balances$'000	326	120	PDF p. 103
Total assets$'000	2,535	4,592	PDF p. 103
Liabilities
Segment liabilities$'000	696	870	PDF p. 103
Other payables$'000	202	299	PDF p. 103
Total liabilities$'000	898	1,169	PDF p. 103

Revenue by product 5 lines

Revenue by product
Item / unit	2025The Group	2024The Group	Source
Products
Sodium Hexametaphosphate (“SHMP”)$'000	197	178	PDF p. 104
Sodium Trimetaphosphate (“STMP”)$'000	1,482	847	PDF p. 104
Sodium Lignosulfonate (“SLS”)$'000	5	-	PDF p. 104
Other commodity products$'000	3,631	3,266	PDF p. 104
Total revenue$'000	5,315	4,291	PDF p. 104

By geography

Geographical information - Revenue and non-current assets 5 lines

Geographical information - Revenue and non-current assets
Item / unit	2025Revenue, based on location of customers	2024Revenue, based on location of customers	2025Non-current assets	2024Non-current assets	Source
Geographical
Asia$'000	4,736	3,077	153	488	PDF p. 103
Europe$'000	322	1,084	-	-	PDF p. 103
Africa$'000	255	94	-	-	PDF p. 103
Others$'000	2	36	-	-	PDF p. 103
Total$'000	5,315	4,291	153	488	PDF p. 103

Notes

Non-current assets presented above consist of property, plant and equipment, right-of-use assets and goodwill, as presented in the statement of financial position.

Payout

Dividends & distributions

Dividend policy

Item	Value	Period / scope	Source
Dividend policy	The Company does not have a fixed dividend policy at present. The declaration and payment of dividends by the Group is subject to many factors, including but not limited to the Group’s results of operations, cash flows and financial position, the Group’s expansion and working capital requirements and the Group’s future growth and prospects.	Group, FY2025	PDF p. 40

Dividends declared and proposed

Item	Value	Period / scope	Source
Dividend recommended for FY2025	There was no dividend recommended with respect to FY2025 as the Group continues to work on strengthening its balance sheet and working capital positions.	Group, FY2025	PDF p. 40

Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
PKF-CAP LLP	PKF-CAP LLP	Group and Company, FY2025	PDF p. 51
Engagement partner	Lee Eng Kian	Group and Company, FY2025	PDF p. 51
Basis for Opinion	unmodified opinion	Group and Company, FY2025	PDF p. 46

Key audit matters

Item	Value	Period / scope	Source
Impairment of goodwill	The Group has recognised impairment loss on the goodwill during the year amounting to S$263k.	Group, FY2025	PDF p. 47
Impairment of trade receivables	We identified this as a key audit matter as the assessment of the determination of ECL requires management to exercise significant judgement and estimation.	Group, 31 December 2025	PDF p. 48

Going concern

Item	Value	Period / scope	Source
Basis of preparation	The financial statements have been prepared on the basis that the Group will continue to operate as a going concern.	Group, FY2025	PDF p. 58

Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

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