Ascent Bridge AWG

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Financials

ANNUAL REPORT 2025

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9 tables

Consolidated Statement of Comprehensive Income

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Consolidated Statement of Comprehensive Income from ANNUAL REPORT 2025
Metric / unit 2025Group2024Group Source
Income statement
Revenue$'000 2,0603,731 PDF p. 108
Cost of sales$'000 (1,200)(2,220) PDF p. 108
Gross profit$'000 8601,511 PDF p. 108
Other operating income$'000 6558 PDF p. 108
Other gains/(losses), net$'000 2,0864,409 PDF p. 108
Expenses
- Selling and distribution$'000 (863)(1,239) PDF p. 108
- General and administrative$'000 (5,198)(9,514) PDF p. 108
Income statement
Loss from operating activities$'000 (3,050)(4,775) PDF p. 108
Finance cost$'000 (20)(37) PDF p. 108
Finance income$'000 146 PDF p. 108
Loss before income tax$'000 (3,069)(4,766) PDF p. 108
Income tax credit$'000 9495 PDF p. 108
Net loss$'000 (2,975)(4,671) PDF p. 108
Other comprehensive (loss)/income, net of tax: Currency translation differences arising from consolidation
- (loss)/gain$'000 (80)28 PDF p. 108
Comprehensive income
Total comprehensive income for the year, attributable to equity owners of the Company$'000 (3,055)(4,643) PDF p. 108
Loss per share attributable to equity owners of the Company
- Basic and diluted (in cents)cents per share (3.21)(5.36) PDF p. 108
Definitions & sources

For the financial year ended 31 March 2025. No separate Company income statement is presented.

Statements of Financial Position - Group and Company

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Statements of Financial Position - Group and Company from ANNUAL REPORT 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Non-current assets
Property, plant and equipment$'000 6791,124–– PDF p. 109
Intangible assets$'000 3,9484,365–– PDF p. 109
Derivative instrument$'000 10,3627,87010,3627,870 PDF p. 109
Investments in subsidiary corporations$'000 ––11 PDF p. 109
Deposits$'000 6,1445,0895,0005,000 PDF p. 109
Other receivables$'000 1,4922,341–– PDF p. 109
Subtotal$'000 22,62520,78915,36312,871 PDF p. 109
Current assets
Inventories$'000 5,7696,428–– PDF p. 109
Trade receivables$'000 3061,814–– PDF p. 109
Prepayments and deposits$'000 2,4293,1442431 PDF p. 109
Other receivables$'000 1,502947–200 PDF p. 109
Amounts due from subsidiary corporations$'000 ––21,23018,714 PDF p. 109
Cash and cash equivalents$'000 1,2191,30194698 PDF p. 109
Subtotal$'000 11,22513,63421,34819,643 PDF p. 109
Assets
Total assets$'000 33,85034,42336,71132,514 PDF p. 109
Current liabilities
Trade payables$'000 6391,421–– PDF p. 109
Other payables$'000 1,4681,313904552 PDF p. 109
Borrowings$'000 968392–– PDF p. 109
Current income tax liabilities$'000 50505050 PDF p. 109
Subtotal$'000 3,1253,176954602 PDF p. 109
Non-current liabilities
Borrowings$'000 203361–– PDF p. 109
Deferred income tax liabilities$'000 560656–– PDF p. 109
Subtotal$'000 7631,017–– PDF p. 109
Liabilities
Total liabilities$'000 3,8884,193954602 PDF p. 109
NET ASSETS$'000 29,96230,23035,75731,912 PDF p. 109
Equity
Share capital$'000 70,96668,60070,96668,600 PDF p. 109
Treasury shares$'000 –(3,315)–(3,315) PDF p. 109
Foreign currency translation reserve$'000 (27)53–– PDF p. 109
Accumulated losses$'000 (40,977)(35,108)(35,209)(33,373) PDF p. 109
Total equity$'000 29,96230,23035,75731,912 PDF p. 109
Definitions & sources

As at 31 March 2025. Equity section heading: Capital and reserve attributable to equity owners of the Company.

Consolidated Statement of Comprehensive Income

4 metrics

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Consolidated Statement of Comprehensive Income from ANNUAL REPORT 2025
Metric / unit 2025Group, FY ended 31 March 20252024Group, FY ended 31 March 2024 Source
Profit or loss
Net loss$'000 (2,975)(4,671) PDF p. 108
Other comprehensive (loss)/income, net of tax: Currency translation differences arising from consolidation
- (loss)/gain$'000 (80)28 PDF p. 108
Total comprehensive income
Total comprehensive income for the year, attributable to equity owners of the Company$'000 (3,055)(4,643) PDF p. 108
Loss per share attributable to equity owners of the Company
- Basic and diluted (in cents)cents (3.21)(5.36) PDF p. 108
Definitions & sources

Items that may be reclassified subsequently to profit or loss. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Consolidated Statement of Cash Flows

37 metrics

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Consolidated Statement of Cash Flows from ANNUAL REPORT 2025
Metric / unit 2025Group, FY ended 31 March 20252024Group, FY ended 31 March 2024 Source
Cash flows from operating activities
Loss before income tax$'000 (3,069)(4,766) PDF p. 112
Adjustments for
- Depreciation of property, plant and equipment$'000 509660 PDF p. 112
- Amortisation of intangible assets$'000 417485 PDF p. 112
- Property, plant and equipment written off$'000 10– PDF p. 112
- Impairment loss on property, plant and equipment$'000 –61 PDF p. 112
- Impairment loss on intangible asset$'000 –494 PDF p. 112
- Impairment loss on goodwill$'000 –6,831 PDF p. 112
- Gain on derecognition of contingent consideration$'000 –(4,576) PDF p. 112
- Fair value gain on derivative instrument at fair value through profit or loss (“FVPL”)$'000 (2,492)(7,219) PDF p. 112
- Interest expense$'000 2037 PDF p. 112
- Interest income$'000 (1)(46) PDF p. 112
- Expected credit losses on trade receivables$'000 32,402 PDF p. 112
- Prepayment written off$'000 397– PDF p. 112
- Loss on lease modification$'000 93 PDF p. 112
- Foreign currency translation adjustments$'000 (53)(28) PDF p. 112
Cash flows from operating activities
Operating cash flows before changes in working capital$'000 (4,250)(5,662) PDF p. 112
Changes in working capital
- Trade and other receivables$'000 1,796(1,465) PDF p. 112
- Prepaid and deposit$'000 (747)(874) PDF p. 112
- Trade and other payables$'000 (622)1,193 PDF p. 112
- Inventories$'000 659495 PDF p. 112
Cash flows from operating activities
Cash flows used in operations$'000 (3,164)(6,313) PDF p. 112
Interest paid$'000 (20)(37) PDF p. 112
Income tax (paid)/refunded$'000 (2)27 PDF p. 112
Interest received$'000 146 PDF p. 112
Net cash used in operating activities$'000 (3,185)(6,277) PDF p. 112
Cash flow from investing activities
Additions to property, plant and equipment$'000 –(26) PDF p. 112
Net cash used in investing activities$'000 –(26) PDF p. 112
Cash flows from financing activities
Repayment of principal portion of lease liabilities$'000 (383)(477) PDF p. 112
Proceeds from issuance of placement shares$'000 2,438– PDF p. 112
Share issuance expenses$'000 (72)– PDF p. 112
Proceeds from sale of treasury shares$'000 421– PDF p. 112
Proceeds from borrowings$'000 704– PDF p. 112
Net cash generated from/(used in) financing activities$'000 3,108(477) PDF p. 112
Net change in cash
Net decrease in cash and cash equivalents$'000 (77)(6,780) PDF p. 112
Effect of exchange rate changes on cash and cash equivalents$'000 (5)3 PDF p. 112
Cash and cash equivalents at beginning of the financial year$'000 1,3018,078 PDF p. 112
Cash and cash equivalents at end of the financial year$'000 1,2191,301 PDF p. 112
Definitions & sources

The accompanying notes form an integral part of these financial statements. No separate Company cash flow statement is presented.

Consolidated Statement of Changes in Equity - Group, 2025

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Consolidated Statement of Changes in Equity - Group, 2025 from ANNUAL REPORT 2025
Metric / unit 2025Group, Share capital2025Group, Treasury shares2025Group, Foreign currency translation reserve2025Group, Accumulated losses2025Group, Total equity Source
Group 2025
Beginning of the financial year$'000 68,600(3,315)53(35,108)30,230 PDF p. 110
Loss for the financial year$'000 –––(2,975)(2,975) PDF p. 110
Other comprehensive loss for the financial year$'000 ––(80)–(80) PDF p. 110
Total comprehensive loss for the financial year$'000 ––(80)(2,975)(3,055) PDF p. 110
Issuance of new shares pursuant to the share placement$'000 2,438–––2,438 PDF p. 110
Share issuance expenses$'000 (72)–––(72) PDF p. 110
Treasury shares re-issued$'000 –3,315–(2,894)421 PDF p. 110
End of the financial year$'000 70,966–(27)(40,977)29,962 PDF p. 110
Definitions & sources

Attributable to equity owners of the Company. No non-controlling interests presented. Beginning-of-year row label wraps ('Beginning of the financial / year').

Consolidated Statement of Changes in Equity - Group, 2024

5 metrics

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Consolidated Statement of Changes in Equity - Group, 2024 from ANNUAL REPORT 2025
Metric / unit 2024Group, Share capital2024Group, Treasury shares2024Group, Foreign currency translation reserve2024Group, Accumulated losses2024Group, Total equity Source
Group 2024
Beginning of the financial year$'000 68,600(3,315)25(30,437)34,873 PDF p. 110
Loss for the financial year$'000 –––(4,671)(4,671) PDF p. 110
Other comprehensive income for the financial year$'000 ––28–28 PDF p. 110
Total comprehensive loss for the financial year$'000 ––28(4,671)(4,643) PDF p. 110
End of the financial year$'000 68,600(3,315)53(35,108)30,230 PDF p. 110
Definitions & sources

Attributable to equity owners of the Company.

Statement of Changes in Equity - Company, 2025

6 metrics

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Statement of Changes in Equity - Company, 2025 from ANNUAL REPORT 2025
Metric / unit 2025Company, Share capital2025Company, Treasury shares2025Company, Accumulated losses2025Company, Total equity Source
Company 2025
Beginning of the financial year$'000 68,600(3,315)(33,373)31,912 PDF p. 111
Profit for the financial year$'000 ––1,0581,058 PDF p. 111
Issuance of new shares pursuant to the share placement$'000 2,438––2,438 PDF p. 111
Share issuance expenses$'000 (72)––(72) PDF p. 111
Treasury shares re-issued$'000 –3,315(2,894)421 PDF p. 111
End of the financial year$'000 70,966–(35,209)35,757 PDF p. 111
Definitions & sources

Statement of Changes in Equity - Company, 2024

3 metrics

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Statement of Changes in Equity - Company, 2024 from ANNUAL REPORT 2025
Metric / unit 2024Company, Share capital2024Company, Treasury shares2024Company, Accumulated losses2024Company, Total equity Source
Company 2024
Beginning of the financial year$'000 68,600(3,315)(22,680)42,605 PDF p. 111
Loss for the financial year$'000 ––(10,693)(10,693) PDF p. 111
End of the financial year$'000 68,600(3,315)(33,373)31,912 PDF p. 111
Definitions & sources

Note 12 Loss per share (Group)

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Note 12 Loss per share (Group) from ANNUAL REPORT 2025
Metric / unit 2025Group, FY ended 31 March 20252024Group, FY ended 31 March 2024 Source
Loss per share
Net loss attributable to equity owners of the Company (S$’000)S$'000 (2,975)(4,671) PDF p. 137
Weighted average number of ordinary shares outstanding for basic loss per share computation (‘000)'000 shares 92,54787,072 PDF p. 137
Basic and diluted loss per share (cents per share)cents per share (3.21)(5.36) PDF p. 137
Definitions & sources

There are no potential dilutive ordinary shares during the financial years ended 31 March 2025 and 2024 respectively.

Basic loss per share is calculated by dividing the net loss attributable to equity owners of the Company by the weighted average number of ordinary shares outstanding during the financial year.

Diluted loss per share are calculated by dividing loss for the financial year, net of tax, attributable to equity owners of the Company by the weighted average number of ordinary shares outstanding during the financial year plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares.

Where the money comes from

Segment information

By business

Note 33(a) Business segment - income statement items (Group, FY ended 31 March 2025) 7 lines
Note 33(a) Business segment - income statement items (Group, FY ended 31 March 2025)
Item / unit 2025Beverage2024Beverage2025Chang chang Card2024Chang chang Card2025Others2024Others2025Consolidated2024Consolidated Source
Revenue
External customers$'000 2,0563,6181603532,0603,731 PDF p. 155
Results
Segment result$'000 (1,856)(780)(109)(995)––(1,965)(1,775) PDF p. 155
Depreciation and amortisation$'000 (753)(960)(173)(185)––(926)(1,145) PDF p. 155
Directors’ fee and remuneration$'000 (831)(931)––––(831)(931) PDF p. 155
Finance income$'000 146––––146 PDF p. 155
Finance cost$'000 (20)(37)––––(20)(37) PDF p. 155
Prepayment written off$'000 (397)–––––(397)– PDF p. 155
Notes

Loss before income tax and Net loss are printed only in the Consolidated columns (2025, 2024); values listed correspond to Consolidated 2025 and 2024 only.

Other reconciling lines (ECL allowance, employee compensation, fair value adjustments, impairments, income tax) are printed on the page but omitted here.

Note 33(a) Business segment - assets, liabilities and other information 5 lines
Note 33(a) Business segment - assets, liabilities and other information
Item / unit 2025Beverage2024Beverage2025Chang chang Card2024Chang chang Card2025Others2024Others2025Consolidated2024Consolidated Source
Assets
Segment assets$'000 32,14232,7831,7081,640––33,85034,423 PDF p. 156
Liabilities
Segment liabilities$'000 3,7673,976121217––3,8884,193 PDF p. 156
Other information
Depreciation and amortisation$'000 753899173246––9261,145 PDF p. 156
Impairment loss$'000 –7,328–58–––7,386 PDF p. 156
Prepayment written off$'000 397–––––397– PDF p. 156
Notes

Total assets and Total liabilities are printed only in Consolidated columns (2025, 2024).

Fair value adjustment on derivative and ECL allowance lines in Other information omitted.

By geography

Note 33(b) Geographical segment - Non-current assets by location of assets 5 lines
Note 33(b) Geographical segment - Non-current assets by location of assets
Item / unit 2025Non-current assets2024Non-current assets Source
By location of assets
Singapore$'000 4,2765,111 PDF p. 157
United States$'000 314303 PDF p. 157
Hong Kong$'000 3275 PDF p. 157
China$'000 5– PDF p. 157
Total$'000 4,6275,489 PDF p. 157
Notes

The non-current assets information above is based on the locations of assets and excludes derivative instrument, deposits and other receivables.

Total row has no printed label.

Revenue by geographical location of customers 10 lines
Revenue by geographical location of customers
Item / unit 2025Group2024Group Source
Geographical information
Singapore$'000 9431,357 PDF p. 132
Middle East$'000 415– PDF p. 132
United States$'000 10616 PDF p. 132
Hong Kong$'000 39699 PDF p. 132
Cambodia$'000 –656 PDF p. 132
Korea$'000 29293 PDF p. 132
Malaysia$'000 395276 PDF p. 132
Taiwan$'000 –123 PDF p. 132
Vietnam$'000 9109 PDF p. 132
Other countries$'000 124202 PDF p. 132
Notes

Printed total revenue 2,060 (2025) and 3,731 (2024); Note 33(b) refers to Note 4 for geographical revenue.

Debt

Borrowings

Borrowing notes 1 tables

Borrowings (Group, current and non-current)

Borrowings (Group, current and non-current) — Group
Item / unit 2025$'0002024$'000 Source
Current
Loan from third party$'000 704– PDF p. 149
Lease liabilities$'000 264392 PDF p. 149
Total current$'000 968392 PDF p. 149
Non-current
Lease liabilities$'000 203361 PDF p. 149
Notes

The loan from third party pertains to a non-interest bearing and unsecured loan granted from Dong Ying Quan Li Quan Wai International Trading Co Ltd (“QLQW”) amounted to RMB3,800,000 (approximately to $704,000) to the Company’s wholly owned subsidiary corporation, Ascent Bridge (Hainan) Co., Ltd. (“ABL Hainan”) during the financial year. The loan is repayable within 6 months from the date of disbursement.

Subsequently, QLQW agreed not to demand for repayment of the loan prior to the injection of additional funds in ABL Hainan and will consider converting the loan into part of the capital injection of ABL Hainan. As it is uncertain whether the loan would be converted into QLQW’s investment in ABL Hainan and the timing for the conversion is not fixed, the loan is classified as current as at 31 March 2025.

Total current row has no printed label; total non-current not printed separately.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividends The Company does not have a policy on payment of dividend. The Board will consider the Group’s operating and financial results, its level of cash and retained earnings and projected capital expenditure and investments when deciding whether to propose the payment of a dividend. Company/Group, FY2025 PDF p. 90

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

ItemValuePeriod / scopeSource
Audit firm CLA Global TS Public Accounting Corporation Group and Company, FY ended 31 March 2025 PDF p. 107
Engagement partner Meriana Ang Mei Ling Group and Company, FY ended 31 March 2025 PDF p. 107
Disclaimer of Opinion We do not express an opinion on the accompanying financial statements of the Group as well as the statement of financial position and the statement of changes in equity of the Company. Group and Company, FY ended 31 March 2025 PDF p. 101
Basis for Disclaimer of Opinion we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements Group and Company, FY ended 31 March 2025 PDF p. 101
Opening balances we were unable to determine whether any adjustments might have been required to those financial statements or whether there were possible effects on the comparability of the current year’s figures with the corresponding figures Group and Company, opening balances at 31 March 2024 PDF p. 102
Impairment assessments of the Group’s property, plant and equipment, right-of-use assets, intangible assets and derivative instruments we were unable to determine the appropriateness of the carrying amounts of the Group’s property, plant and equipment, right-of use assets and intangible assets, as well as the fair value of the derivative put option as at 31 March 2025 Group, as at 31 March 2025 · As at 2025-03-31 PDF p. 103
Expected credit losses on the Group’s amount due from a related party, deposits and prepayment we were unable to determine whether the carrying values and classification of these receivable balances were appropriate as at 31 March 2025, and whether any adjustments might have been necessary Group, as at 31 March 2025 · As at 2025-03-31 PDF p. 103
Expected credit losses on the Company’s amounts due from subsidiary corporations we were unable to obtain sufficient appropriate audit evidence to determine the appropriateness of the carrying amount of the amounts due from subsidiary corporations as at 31 March 2025, and whether any adjustments might have been necessary Company, as at 31 March 2025 · As at 2025-03-31 PDF p. 104

Going concern

ItemValuePeriod / scopeSource
Going concern These conditions indicate the existence of material uncertainties that may cast significant doubt on the Group’s and the Company’s ability to continue as going concerns. Group and Company, FY ended 31 March 2025 PDF p. 104
2.2 Going concern assumption The Group incurred a net loss of $2,975,000 (2024: $4,671,000) and a net operating cash outflows of $3,185,000 (2024: $6,277,000) respectively for the financial year ended 31 March 2025. Group, FY2025 with 2024 comparatives PDF p. 113

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.