Tye Soon BFU
Financials
ANNUAL REPORT 2025
Explore the statements
11 tablesStatements of Financial Position (Group and Company)
31 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Assets | |||||
| Plant and equipment$'000 | 1,563 | 1,399 | 320 | 436 | PDF p. 26 |
| Right-of-use assets$'000 | 7,292 | 6,452 | 1,634 | 626 | PDF p. 26 |
| Goodwill$'000 | 86 | 85 | – | – | PDF p. 26 |
| Subsidiaries$'000 | – | – | 23,264 | 23,181 | PDF p. 26 |
| Other investments$'000 | 1,018 | 1,018 | 1,018 | 1,018 | PDF p. 26 |
| Deferred tax assets$'000 | 1,660 | 1,615 | – | – | PDF p. 26 |
| Loan receivables$'000 | – | – | – | – | PDF p. 26 |
| Non-current assets$'000 | 11,619 | 10,569 | 26,236 | 25,261 | PDF p. 26 |
| Current tax assets$'000 | 399 | 507 | – | – | PDF p. 26 |
| Inventories$'000 | 134,463 | 125,230 | 40,841 | 38,819 | PDF p. 26 |
| Trade and other receivables$'000 | 36,234 | 37,403 | 63,868 | 57,658 | PDF p. 26 |
| Cash and cash equivalents$'000 | 13,318 | 14,728 | 1,917 | 3,100 | PDF p. 26 |
| Current assets$'000 | 184,414 | 177,868 | 106,626 | 99,577 | PDF p. 26 |
| Total assets$'000 | 196,033 | 188,437 | 132,862 | 124,838 | PDF p. 26 |
| Equity | |||||
| Share capital$'000 | 38,057 | 38,057 | 38,057 | 38,057 | PDF p. 26 |
| Reserves$'000 | 26,410 | 24,263 | 4,179 | 3,822 | PDF p. 26 |
| Equity attributable to owners of the Company$'000 | 64,467 | 62,320 | 42,236 | 41,879 | PDF p. 26 |
| Non-controlling interests$'000 | 799 | 738 | – | – | PDF p. 26 |
| Total equity$'000 | 65,266 | 63,058 | 42,236 | 41,879 | PDF p. 26 |
| Liabilities - non-current | |||||
| Lease liabilities$'000 | 3,849 | 3,230 | 967 | 195 | PDF p. 26 |
| Employee benefits$'000 | 105 | 133 | – | – | PDF p. 26 |
| Deferred tax liabilities$'000 | 16 | 12 | – | – | PDF p. 26 |
| Liabilities | |||||
| Non-current liabilities$'000 | 3,970 | 3,375 | 967 | 195 | PDF p. 26 |
| Liabilities - current | |||||
| Loans and borrowings$'000 | 84,097 | 78,896 | 69,772 | 64,761 | PDF p. 26 |
| Lease liabilities$'000 | 3,721 | 3,496 | 700 | 473 | PDF p. 26 |
| Trade and other payables$'000 | 37,242 | 37,164 | 17,976 | 15,522 | PDF p. 26 |
| Contract liabilities$'000 | 1,261 | 2,018 | 1,211 | 2,008 | PDF p. 26 |
| Current tax liabilities$'000 | 476 | 430 | – | – | PDF p. 26 |
| Liabilities | |||||
| Current liabilities$'000 | 126,797 | 122,004 | 89,659 | 82,764 | PDF p. 26 |
| Total liabilities$'000 | 130,767 | 125,379 | 90,626 | 82,959 | PDF p. 26 |
| Total | |||||
| Total equity and liabilities$'000 | 196,033 | 188,437 | 132,862 | 124,838 | PDF p. 26 |
Definitions & sources
Original report: PDF p. 26 ↗
As at 31 December 2025. The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Profit or Loss
15 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Profit or loss | |||
| Revenue$'000 | 264,085 | 257,164 | PDF p. 27 |
| Other income$'000 | 186 | 429 | PDF p. 27 |
| Changes in inventories of finished goods$'000 | 9,234 | 9,149 | PDF p. 27 |
| Cost of purchases$'000 | (214,872) | (208,419) | PDF p. 27 |
| Staff costs$'000 | (27,862) | (28,689) | PDF p. 27 |
| Depreciation expenses$'000 | (5,026) | (4,844) | PDF p. 27 |
| Other operating expenses$'000 | (17,065) | (14,845) | PDF p. 27 |
| Finance costs$'000 | (3,811) | (4,249) | PDF p. 27 |
| Profit before tax$'000 | 4,869 | 5,696 | PDF p. 27 |
| Tax expense$'000 | (1,131) | (1,416) | PDF p. 27 |
| Profit for the year$'000 | 3,738 | 4,280 | PDF p. 27 |
| Profit attributable to | |||
| Owners of the Company$'000 | 3,713 | 4,235 | PDF p. 27 |
| Non-controlling interests$'000 | 25 | 45 | PDF p. 27 |
| Profit for the year$'000 | 3,738 | 4,280 | PDF p. 27 |
| Earnings per share | |||
| Basic and diluted earnings per share (cents)cents per share | 4.25 | 4.85 | PDF p. 27 |
Definitions & sources
Original report: PDF p. 27 ↗
Year ended 31 December 2025. The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Comprehensive Income
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| Profit for the year$'000 | 3,738 | 4,280 | PDF p. 28 |
| Other comprehensive income | |||
| Other comprehensive income for the year, net of tax$'000 | 139 | (1,615) | PDF p. 28 |
| Comprehensive income | |||
| Total comprehensive income for the year$'000 | 3,877 | 2,665 | PDF p. 28 |
| Total comprehensive income attributable to | |||
| Owners of the Company$'000 | 3,816 | 2,576 | PDF p. 28 |
| Non-controlling interests$'000 | 61 | 89 | PDF p. 28 |
| Total comprehensive income for the year$'000 | 3,877 | 2,665 | PDF p. 28 |
Definitions & sources
Original report: PDF p. 28 ↗
Year ended 31 December 2025. Foreign currency translation differences of net assets/liabilities of foreign branch and subsidiaries: 139 (2025), (1,615) (2024); this is under 'Items that are or may be reclassified subsequently to profit or loss'.
The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Comprehensive Income
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| Profit for the year$'000 | 3,738 | 4,280 | PDF p. 28 |
| Other comprehensive income | |||
| Foreign currency translation differences of net assets/liabilities of foreign branch and subsidiaries$'000 | 139 | (1,615) | PDF p. 28 |
| Other comprehensive income for the year, net of tax$'000 | 139 | (1,615) | PDF p. 28 |
| Comprehensive income | |||
| Total comprehensive income for the year$'000 | 3,877 | 2,665 | PDF p. 28 |
| Total comprehensive income attributable to | |||
| Owners of the Company$'000 | 3,816 | 2,576 | PDF p. 28 |
| Non-controlling interests$'000 | 61 | 89 | PDF p. 28 |
Definitions & sources
Original report: PDF p. 28 ↗
Foreign currency translation line is an item that is or may be reclassified subsequently to profit or loss. Only Group statement presented; no Company comprehensive income statement.
Consolidated Statement of Changes in Equity
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group - Share capital | 2025Group - Other capital reserves | 2025Group - Fair value reserve | 2025Group - Translation reserve | 2025Group - Retained earnings | 2025Group - Total attributable to owners of the Company | 2025Group - Non-controlling interests | 2025Group - Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2024 movements | |||||||||
| At 1 January 2024$'000 | 38,057 | 3,501 | (105) | (11,794) | 31,383 | 61,042 | 649 | 61,691 | PDF p. 29 |
| Profit for the year$'000 | – | – | – | – | 4,235 | 4,235 | 45 | 4,280 | PDF p. 29 |
| Total other comprehensive income$'000 | – | – | – | (1,659) | – | (1,659) | 44 | (1,615) | PDF p. 29 |
| Total comprehensive income for the year$'000 | – | – | – | (1,659) | 4,235 | 2,576 | 89 | 2,665 | PDF p. 29 |
| Dividend paid$'000 | – | – | – | – | (1,298) | (1,298) | – | (1,298) | PDF p. 29 |
| At 31 December 2024$'000 | 38,057 | 3,501 | (105) | (13,453) | 34,320 | 62,320 | 738 | 63,058 | PDF p. 29 |
| 2025 movements | |||||||||
| At 1 January 2025$'000 | 38,057 | 3,501 | (105) | (13,453) | 34,320 | 62,320 | 738 | 63,058 | PDF p. 29 |
| Profit for the year$'000 | – | – | – | – | 3,713 | 3,713 | 25 | 3,738 | PDF p. 29 |
| Total other comprehensive income$'000 | – | – | – | 103 | – | 103 | 36 | 139 | PDF p. 29 |
| Total comprehensive income for the year$'000 | – | – | – | 103 | 3,713 | 3,816 | 61 | 3,877 | PDF p. 29 |
| Dividend paid$'000 | – | – | – | – | (1,669) | (1,669) | – | (1,669) | PDF p. 29 |
| At 31 December 2025$'000 | 38,057 | 3,501 | (105) | (13,350) | 36,364 | 64,467 | 799 | 65,266 | PDF p. 29 |
Definitions & sources
Original report: PDF p. 29 ↗
Rows grouped by period: 2024 movements (1 Jan 2024 to 31 Dec 2024) and 2025 movements (1 Jan 2025 to 31 Dec 2025); all columns are the Group at the statement year shown in the row section. Foreign currency translation differences line (translation reserve: 2024 (1,659), NCI 44, total (1,615); 2025 103, NCI 36, total 139) is subsumed in Total other comprehensive income. Only Group statement printed; no separate Company statement of changes in equity found.
Consolidated Statement of Cash Flows
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Cash flows from operating activities | |||
| Profit before tax$'000 | 4,869 | 5,696 | PDF p. 30 |
| Adjustments for | |||
| Depreciation of plant and equipment$'000 | 446 | 392 | PDF p. 30 |
| Depreciation of right-of-use assets$'000 | 4,580 | 4,452 | PDF p. 30 |
| Gain on disposal of plant and equipment$'000 | (11) | (6) | PDF p. 30 |
| Loss on write-off of plant and equipment$'000 | 3 | – | PDF p. 30 |
| Net impairment losses on trade receivables$'000 | 50 | 11 | PDF p. 30 |
| Allowance for slow moving stock (net)$'000 | 1,310 | 597 | PDF p. 30 |
| Interest income$'000 | (29) | (106) | PDF p. 30 |
| Finance costs$'000 | 3,811 | 4,249 | PDF p. 30 |
| Unrealised foreign exchange loss/(gain)on bank loans$'000 | 302 | (22) | PDF p. 30 |
| Gain on derecognition of right-of-use assets$'000 | (3) | – | PDF p. 30 |
| Cash flows from operating activities | |||
| Operating cash flows before working capital changes (unlabelled subtotal)$'000 | 15,328 | 15,263 | PDF p. 30 |
| Changes in working capital | |||
| Changes in inventories$'000 | (10,404) | (8,674) | PDF p. 30 |
| Changes in trade and other receivables$'000 | 1,165 | (2,127) | PDF p. 30 |
| Changes in trade and other payables$'000 | 203 | 3,075 | PDF p. 30 |
| Changes in contract liabilities$'000 | (757) | 103 | PDF p. 30 |
| Changes in bills payable and trust receipts$'000 | 8,502 | (3,541) | PDF p. 30 |
| Interest paid for bills payable and trust receipts$'000 | (1,865) | (2,074) | PDF p. 30 |
| Cash flows from operating activities | |||
| Cash generated from operating activities$'000 | 12,172 | 2,025 | PDF p. 30 |
| Tax paid$'000 | (990) | (1,188) | PDF p. 30 |
| Net cash from operating activities$'000 | 11,182 | 837 | PDF p. 30 |
| Cash flows from investing activities | |||
| Interest received$'000 | 29 | 106 | PDF p. 30 |
| Proceeds from sale of plant and equipment$'000 | 12 | 11 | PDF p. 30 |
| Acquisition of plant and equipment$'000 | (617) | (550) | PDF p. 30 |
| Net cash used in investing activities$'000 | (576) | (433) | PDF p. 30 |
| Cash flows from financing activities | |||
| Payment of lease liabilities$'000 | (4,555) | (4,481) | PDF p. 30 |
| Proceeds from borrowings$'000 | 60,992 | 84,469 | PDF p. 30 |
| Repayment of borrowings$'000 | (64,710) | (74,788) | PDF p. 30 |
| Interest paid for lease liabilities and bank loans$'000 | (2,007) | (2,226) | PDF p. 30 |
| Dividend paid$'000 | (1,669) | (1,298) | PDF p. 30 |
| Net cash (used in)/from financing activities$'000 | (11,949) | 1,676 | PDF p. 30 |
| Closing cash | |||
| Net (decrease)/increase in cash and cash equivalents$'000 | (1,343) | 2,080 | PDF p. 31 |
| Cash and cash equivalents at the beginning of the year$'000 | 14,728 | 13,211 | PDF p. 31 |
| Effect of exchange rate changes on the balance of cash held in foreign currencies$'000 | (67) | (563) | PDF p. 31 |
| Cash and cash equivalents at the end of the year$'000 | 13,318 | 14,728 | PDF p. 31 |
Definitions & sources
Original report: PDF p. 30 ↗ PDF p. 31 ↗
Spans pages 30-31. Non-cash transaction: In 2025, the Group recognised right-of-use asset with an aggregate cost of $5,514,000 (2024: $3,479,000), of which $5,495,000 (2024: $3,479,000) was recognised as lease liabilities and $19,000 (2024: $ nil) pertains to provision for site restoration. Subtotal 15,328/15,263 is unlabelled in source. Only Group cash flow printed; no Company cash flow.
5-Year Financial Summary — Results
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | 2023Group, $'000 | 2022Group, $'000 | 2021Group, $'000 | Source |
|---|---|---|---|---|---|---|
| Results | ||||||
| Revenue$'000 | 264,085 | 257,164 | 254,400 | 249,323 | 225,330 | PDF p. 5 |
| Profit before tax$'000 | 4,869 | 5,696 | 5,870 | 8,578 | 6,129 | PDF p. 5 |
| Tax expense$'000 | (1,131) | (1,416) | (1,550) | (2,171) | (1,584) | PDF p. 5 |
| Profit for the year$'000 | 3,738 | 4,280 | 4,320 | 6,407 | 4,545 | PDF p. 5 |
| Per share | ||||||
| Earnings per share (cents)cents | 4.25 | 4.85 | 4.87 | 7.19 | 5.12 | PDF p. 5 |
| Net tangible assets per share (cents)cents | 73.9 | 71.4 | 70.0 | 68.5 | 65.4 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Section Results header: 'Results $’000'. No dividend rows in the five-year summary.
5-Year Financial Summary — Financial Position and Equity
15 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | 2023Group, $'000 | 2022Group, $'000 | 2021Group, $'000 | Source |
|---|---|---|---|---|---|---|
| Financial Position | ||||||
| Plant and equipment$'000 | 1,563 | 1,399 | 1,290 | 1,234 | 905 | PDF p. 5 |
| Right-of-use assets$'000 | 7,292 | 6,452 | 7,846 | 9,134 | 5,747 | PDF p. 5 |
| Goodwill on consolidation$'000 | 86 | 85 | 91 | 91 | 98 | PDF p. 5 |
| Other non-current tangible assets$'000 | 2,678 | 2,633 | 2,849 | 2,973 | 2,757 | PDF p. 5 |
| Current assets$'000 | 184,414 | 177,868 | 167,965 | 165,006 | 144,436 | PDF p. 5 |
| Total assets$'000 | 196,033 | 188,437 | 180,041 | 178,438 | 153,943 | PDF p. 5 |
| Equity attributable to owners of the Company | ||||||
| Share capital$'000 | 38,057 | 38,057 | 38,057 | 38,057 | 38,057 | PDF p. 5 |
| Reserves$'000 | 26,410 | 24,263 | 22,985 | 21,699 | 18,987 | PDF p. 5 |
| Share capital and reserves$'000 | 64,467 | 62,320 | 61,042 | 59,756 | 57,044 | PDF p. 5 |
| Non-controlling interests$'000 | 799 | 738 | 649 | 622 | 524 | PDF p. 5 |
| Total equity$'000 | 65,266 | 63,058 | 61,691 | 60,378 | 57,568 | PDF p. 5 |
| Liabilities | ||||||
| Current liabilities$'000 | 126,797 | 122,004 | 113,153 | 109,509 | 88,923 | PDF p. 5 |
| Non-current liabilities$'000 | 3,970 | 3,375 | 5,197 | 8,551 | 7,452 | PDF p. 5 |
| Total liabilities$'000 | 130,767 | 125,379 | 118,350 | 118,060 | 96,375 | PDF p. 5 |
| Total equity and liabilities$'000 | 196,033 | 188,437 | 180,041 | 178,438 | 153,943 | PDF p. 5 |
Definitions & sources
Original report: PDF p. 5 ↗
Printed section headers: "Financial Position $'000" and "Equity attributable to owners of the Company $’000".
Earnings per share (Note 20) — profit attributable and weighted-average shares
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Basic earnings per share | |||
| Profit for the year attributable to ordinary shareholders$'000 | 3,713 | 4,235 | PDF p. 67 |
| Weighted-average number of ordinary shares | |||
| Weighted-average number of ordinary shares at 1 January and 31 December'000 shares | 87,265 | 87,265 | PDF p. 67 |
Definitions & sources
Original report: PDF p. 67 ↗
The basic and diluted profit per share are the same for 2025 and 2024 as there were no dilutive instruments in issue as at 31 December 2025 and 31 December 2024.
Basic and diluted EPS (Consolidated statement of profit or loss)
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Basic and diluted earnings per share (cents)cents | 4.25 | 4.85 | PDF p. 27 |
Definitions & sources
Original report: PDF p. 27 ↗
Note reference 20 printed in the row.
Dividends (Note 13) — Group and Company
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company, $'000 | 2024Group and Company, $'000 | Source |
|---|---|---|---|
| Paid by the Group to shareholders of the Group | |||
| Final tax exempt 2024 dividend of $0.01275 per share (2024: Final tax exempt 2023 dividend of $0.0085 per share)$'000 | 1,113 | 742 | PDF p. 59 |
| Interim tax exempt 2025 dividend of $0.00638 per share (2024: Interim tax exempt 2024 dividend of $0.00638 per share)$'000 | 556 | 556 | PDF p. 59 |
| Total dividends paid$'000 | 1,669 | 1,298 | PDF p. 59 |
| Final – Proposed | |||
| $0.01275 (2024: $0.01275) per qualifying share$'000 | 1,113 | 1,113 | PDF p. 59 |
Definitions & sources
Original report: PDF p. 59 ↗
After the respective reporting dates, the following exempt (one-tier) dividends were proposed by the directors. These exempt (one-tier) dividends have not been provided for in the respective years.
Chairman's statement (p.11): final dividend $1.113 million, or $0.01275 per share, for FY25; total dividends for the year incl. interim will be $1.669 million, or $0.01913 per share, if approved.
Where the money comes from
Segment information
By geography
Geographical information 2 lines
| Item / unit | 2025Singapore | 2025Malaysia | 2025Australia | 2025Thailand | 2025South Korea | 2025Others(ii) | 2025Total | 2024Singapore | 2024Malaysia | 2024Australia | 2024Thailand | 2024South Korea | 2024Others(ii) | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue from external customers$'000 | 20,323 | 54,180 | 42,525 | 15,461 | 83,738 | 47,858 | 264,085 | 22,640 | 55,219 | 41,603 | 14,940 | 78,753 | 44,009 | 257,164 | PDF p. 87 |
| Non-current assets (i)$'000 | 1,953 | 838 | 3,144 | – | 2,801 | 205 | 8,941 | 1,062 | 712 | 2,780 | – | 3,064 | 318 | 7,936 | PDF p. 87 |
Notes
The Group is principally engaged in a single business line and in one segment which relates to the distribution of automotive parts (Note 23), so no business segment table is presented.
Segment revenue is based on geographical location of the customers which the sales are made to regardless of where the sales originate. Segment assets are based on the geographical location of the assets.
(i) Non-current assets presented consist of plant and equipment, right-of-use assets and goodwill.
(ii) No country included within "others" individually contributed 10% or more of the Group's revenue or non-current assets.
For the years ended 31 December 2025 and 2024, there was no single customer that contributed to 10% or more of the Group's revenue.
Same footnotes (i) and (ii) as 2025 table: (i) Non-current assets consist of plant and equipment, right-of-use assets and goodwill; (ii) no country in "others" individually contributed 10% or more of revenue or non-current assets.
Debt
Borrowings
Terms and debt repayment schedule - Group 31 December 2025
| Item / unit | 2025Group nominal interest rate % | 2025Group year of maturity | 2025Group face value $'000 | 2025Group carrying amount $'000 | Source |
|---|---|---|---|---|---|
| Unsecured bank loans | |||||
| Unsecured bank loans - Hong Kong dollar% / year / $'000 | 4.49 | 2026 | 918 | 908 | PDF p. 60 |
Notes
Header: Nominal interest rate %, Year of maturity, Face value $’000, Carrying amount $’000.
Terms and debt repayment schedule - Group 31 December 2024
| Item / unit | 2024Group nominal interest rate % | 2024Group year of maturity | 2024Group face value $'000 | 2024Group carrying amount $'000 | Source |
|---|---|---|---|---|---|
| Bills payable and trust receipts | |||||
| Bills payable and trust receipts - United States dollar% / year / $'000 | 5.75 | 2025 | 795 | 791 | PDF p. 60 |
| Bills payable and trust receipts - Hong Kong dollar% / year / $'000 | 6.32 | 2025 | 56 | 56 | PDF p. 60 |
Terms and debt repayment schedule - Company 31 December 2025
| Item / unit | 2025Company nominal interest rate % | 2025Company year of maturity | 2025Company face value $'000 | 2025Company carrying amount $'000 | Source |
|---|---|---|---|---|---|
| Unsecured bank loans | |||||
| Unsecured bank loans - Hong Kong dollar% / year / $'000 | 4.49 | 2026 | 918 | 908 | PDF p. 61 |
Notes
Intra-group financial guarantees comprise guarantees granted by the Company to banks in respect of banking facilities amounting to $27,065,000 (2024: $26,587,000) for its wholly-owned subsidiaries.
Terms and debt repayment schedule - Company 31 December 2024
| Item / unit | 2024Company nominal interest rate % | 2024Company year of maturity | 2024Company face value $'000 | 2024Company carrying amount $'000 | Source |
|---|---|---|---|---|---|
| Bills payable and trust receipts | |||||
| Bills payable and trust receipts - United States dollar% / year / $'000 | 5.75 | 2025 | 795 | 791 | PDF p. 61 |
Contractual maturities of financial liabilities - Group
| Item / unit | 2025Group carrying amount $'000 | 2025Group contractual cash flows $'000 | 2025Group cash flows 6 months or less $'000 | 2025Group cash flows 6 - 12 months $'000 | 2025Group cash flows 1 - 2 years $'000 | 2025Group cash flows 2 - 5 years $'000 | 2024Group carrying amount $'000 | 2024Group contractual cash flows $'000 | 2024Group cash flows 6 months or less $'000 | 2024Group cash flows 6 - 12 months $'000 | 2024Group cash flows 1 - 2 years $'000 | 2024Group cash flows 2 - 5 years $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||||||
| Unsecured bank loans$'000 | 35,876 | (36,167) | (36,167) | – | – | – | 38,422 | (38,583) | (38,583) | – | – | – | PDF p. 74 |
| Bills payable and trust receipts$'000 | 48,221 | (48,515) | (48,515) | – | – | – | 39,548 | (39,696) | (39,696) | – | – | – | PDF p. 74 |
| Lease liabilities$'000 | 7,570 | (8,063) | (2,197) | (1,829) | (2,495) | (1,542) | 6,726 | (7,135) | (2,215) | (1,528) | (2,200) | (1,192) | PDF p. 74 |
| Term loans$'000 | 926 | (935) | (603) | (332) | – | – | PDF p. 74 | ||||||
Notes
Note column (14/5) is in the quoted row; contractual maturities include estimated interest payments.
Contractual maturities of financial liabilities - Company
| Item / unit | 2025Company carrying amount $'000 | 2025Company contractual cash flows $'000 | 2025Company cash flows 6 months or less $'000 | 2025Company cash flows 6 - 12 months $'000 | 2025Company cash flows 1 - 2 years $'000 | 2025Company cash flows 2 - 5 years $'000 | 2024Company carrying amount $'000 | 2024Company contractual cash flows $'000 | 2024Company cash flows 6 months or less $'000 | 2024Company cash flows 6 - 12 months $'000 | 2024Company cash flows 1 - 2 years $'000 | 2024Company cash flows 2 - 5 years $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Company | |||||||||||||
| Unsecured bank loans$'000 | 30,740 | (30,895) | (30,895) | – | – | – | 31,001 | (31,145) | (31,145) | – | – | – | PDF p. 75 |
| Bills payable and trust receipts$'000 | 39,032 | (39,188) | (39,188) | – | – | – | 32,834 | (32,937) | (32,937) | – | – | – | PDF p. 75 |
| Lease liabilities$'000 | 1,667 | (1,764) | (382) | (380) | (677) | (325) | 668 | (683) | (385) | (98) | (150) | (50) | PDF p. 75 |
| Intragroup financial guarantees (unrecognised)$'000 | – | (27,065) | (27,065) | – | – | – | PDF p. 75 | ||||||
| Term loans$'000 | 926 | (935) | (603) | (332) | – | – | PDF p. 75 | ||||||
Notes
Guarantee row label wraps: 'Intragroup financial guarantees' / '(unrecognised)'.
Borrowing notes 3 tables
Loans and borrowings - current liabilities
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Current liabilities | |||||
| Term loans$'000 | – | 926 | – | 926 | PDF p. 59 |
| Unsecured bank loans$'000 | 35,876 | 38,422 | 30,740 | 31,001 | PDF p. 59 |
| Bills payable and trust receipts$'000 | 48,221 | 39,548 | 39,032 | 32,834 | PDF p. 59 |
| Total current loans and borrowings (unlabelled subtotal)$'000 | 84,097 | 78,896 | 69,772 | 64,761 | PDF p. 59 |
Notes
All loans and borrowings are shown under current liabilities; no non-current borrowings are printed. Total row has no printed label.
Term loans are not labelled secured/unsecured in the table; bank loans are labelled Unsecured.
Lease liabilities terms - Group
| Item / unit | 2025Group 31 December 2025 nominal interest rate %, year of maturity, face value $'000, carrying amount $'000 | 2024Group 31 December 2024 nominal interest rate %, year of maturity, face value $'000, carrying amount $'000 | Source |
|---|---|---|---|
| Group 31 December 2025 | |||
| Lease liabilities 2025 total (unlabelled)$'000 | 8,063 | 7,570 | PDF p. 51 |
| Group 31 December 2024 | |||
| Lease liabilities 2024 total (unlabelled)$'000 | 7,135 | 6,726 | PDF p. 51 |
Notes
Company lease liabilities: Singapore Dollar 2.55 – 5.84, 2026 – 2028, face 1,764, carrying 1,667 (2025); 2.55 – 5.84, 2025 – 2028, 683, 668 (2024). Two sets of Group rows (2025, 2024) are combined in this table; column scope identifies which.
Interest rate profile - fixed rate instruments
| Item / unit | 2025Group carrying amount $'000 | 2024Group carrying amount $'000 | 2025Company carrying amount $'000 | 2024Company carrying amount $'000 | Source |
|---|---|---|---|---|---|
| Fixed rate instruments | |||||
| Lease liabilities$'000 | 7,570 | 6,726 | 1,667 | 668 | PDF p. 80 |
| Loans and borrowings$'000 | 84,097 | 78,896 | 69,772 | 64,761 | PDF p. 80 |
Notes
Total of fixed rate instruments printed as 91,667 / 85,622 / 71,439 / 65,429 (unlabelled).
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a formal dividend policy. | Company | PDF p. 105 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| final dividend for the year ended 31 December 2025 | S$0.01275 | FY2025 proposed final, exempt (one-tier) | PDF p. 105 |
| Interim tax exempt 2025 dividend | $0.00638 | FY2025 interim, tax exempt one-tier, paid; Group and Company | PDF p. 59 |
| Final tax exempt 2024 dividend | $0.01275 | FY2024 final, tax exempt, paid in 2025; Group and Company | PDF p. 59 |
| $0.01275 (2024: $0.01275) per qualifying share | $0.01275 | Final – Proposed 2025 vs 2024; Group and Company | PDF p. 59 |
| total dividends for the year | $0.01913 per share | FY2025 total (interim + proposed final) | PDF p. 11 |
| Record Date | 7 May 2026 | FY2025 final dividend | PDF p. 127 |
| Payment date for final dividend | 15 May 2026 | FY2025 final dividend | PDF p. 127 |
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 |
|---|---|---|---|
| Auditor | KPMG LLP | Group | PDF p. 25 |
| Engagement partner | Sarina Lee | Group | PDF p. 25 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)s”) so as to give a true and fair view | Group | PDF p. 22 |
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.