BH Global BQN
Financials
ANNUAL REPORT 2025
Explore the statements
14 tablesConsolidated Income Statement (Group)
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue$'000 | 48,308 | 60,385 | PDF p. 61 |
| Cost of sales$'000 | (28,853) | (35,837) | PDF p. 61 |
| Gross profit$'000 | 19,455 | 24,548 | PDF p. 61 |
| Other operating income | |||
| - Interest$'000 | 263 | 319 | PDF p. 61 |
| - Others$'000 | 310 | 616 | PDF p. 61 |
| Income statement | |||
| Selling and distribution expenses$'000 | (14,207) | (14,546) | PDF p. 61 |
| Administrative expenses$'000 | (7,977) | (8,121) | PDF p. 61 |
| Finance costs$'000 | (701) | (779) | PDF p. 61 |
| Reversal of impairment losses on financial assets$'000 | 848 | 8 | PDF p. 61 |
| Gain/(loss) on deconsolidation of subsidiaries$'000 | 1,185 | (108) | PDF p. 61 |
| (Loss)/profit from operations$'000 | (824) | 1,937 | PDF p. 61 |
| Share of results of a joint venture$'000 | 688 | 857 | PDF p. 61 |
| Share of results of associated companies$'000 | 152 | (277) | PDF p. 61 |
| Profit before tax$'000 | 16 | 2,517 | PDF p. 61 |
| Tax credit/(expense)$'000 | 338 | (458) | PDF p. 61 |
| Profit for the financial year$'000 | 354 | 2,059 | PDF p. 61 |
| Profit/(loss) attributable to | |||
| Equity holders of the Company$'000 | 1,081 | 2,686 | PDF p. 61 |
| Non-controlling interests$'000 | (727) | (627) | PDF p. 61 |
| Earnings per share (expressed in cents per share) | |||
| Basic and dilutedcents per share | 0.36 | 0.90 | PDF p. 61 |
Definitions & sources
Original report: PDF p. 61 ↗
For the financial year ended 31 December 2025. Amounts in $’000 except EPS in cents per share.
Consolidated Statement of Comprehensive Income (Group)
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| Profit for the financial year$'000 | 354 | 2,059 | PDF p. 62 |
| Items that are or may be reclassified subsequently to profit or loss | |||
| Currency translation differences arising on consolidation$'000 | 100 | (5) | PDF p. 62 |
| Share of other comprehensive (loss)/income of joint venture$'000 | (90) | 41 | PDF p. 62 |
| Share of other comprehensive income/(loss) of associated companies$'000 | 93 | (29) | PDF p. 62 |
| Subtotal$'000 | 103 | 7 | PDF p. 62 |
| Comprehensive income | |||
| Total comprehensive income for the financial year$'000 | 457 | 2,066 | PDF p. 62 |
| Total comprehensive income attributable to | |||
| Equity holders of the Company$'000 | 1,184 | 2,693 | PDF p. 62 |
| Non-controlling interests$'000 | (727) | (627) | PDF p. 62 |
| Subtotal$'000 | 457 | 2,066 | PDF p. 62 |
Definitions & sources
Original report: PDF p. 62 ↗
For the financial year ended 31 December 2025. The subtotal 103 / 7 is unlabelled in the source.
Statements of Financial Position – assets and liabilities (Group and Company)
30 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment$'000 | 16,082 | 16,982 | – | – | PDF p. 63 |
| Investment in subsidiaries$'000 | – | – | 17,295 | 11,295 | PDF p. 63 |
| Investment in a joint venture$'000 | 3,512 | 3,400 | 949 | 949 | PDF p. 63 |
| Investment in associated companies$'000 | 331 | 20 | – | – | PDF p. 63 |
| Deferred tax assets$'000 | 1,416 | 1,478 | 404 | 231 | PDF p. 63 |
| Intangible assets$'000 | 5,301 | 5,665 | – | – | PDF p. 63 |
| Financial assets at fair value through profit or loss$'000 | 8 | 4 | – | – | PDF p. 63 |
| Loan to an associated company$'000 | 2,684 | 3,191 | 3,575 | 4,000 | PDF p. 63 |
| Total non-current assets$'000 | 29,334 | 30,740 | 22,223 | 16,475 | PDF p. 63 |
| Current assets | |||||
| Inventories$'000 | 33,662 | 33,259 | – | – | PDF p. 63 |
| Contract assets$'000 | 804 | 2,177 | – | – | PDF p. 63 |
| Trade receivables$'000 | 8,574 | 12,392 | – | – | PDF p. 63 |
| Other receivables$'000 | 5,646 | 4,968 | 2,993 | 2,946 | PDF p. 63 |
| Cash and cash equivalents$'000 | 4,336 | 5,301 | 46 | 68 | PDF p. 63 |
| Total current assets$'000 | 53,022 | 58,097 | 3,039 | 3,014 | PDF p. 63 |
| Assets | |||||
| Total assets$'000 | 82,356 | 88,837 | 25,262 | 19,489 | PDF p. 63 |
| Non-current liabilities | |||||
| Deferred tax liabilities$'000 | 309 | 309 | – | – | PDF p. 63 |
| Borrowings$'000 | – | 474 | – | – | PDF p. 63 |
| Lease liabilities$'000 | 7,643 | 7,730 | – | – | PDF p. 63 |
| Total non-current liabilities$'000 | 7,952 | 8,513 | – | – | PDF p. 63 |
| Current liabilities | |||||
| Contract liabilities$'000 | 1,681 | 1,886 | – | – | PDF p. 63 |
| Trade payables$'000 | 5,650 | 5,516 | – | – | PDF p. 63 |
| Other payables and accruals$'000 | 3,007 | 3,444 | 8,228 | 5,216 | PDF p. 63 |
| Provisions$'000 | – | 137 | – | – | PDF p. 63 |
| Borrowings$'000 | 9,779 | 11,606 | – | – | PDF p. 63 |
| Lease liabilities$'000 | 414 | 358 | – | – | PDF p. 63 |
| Tax payable$'000 | 1,461 | 1,862 | – | – | PDF p. 63 |
| Total current liabilities$'000 | 21,992 | 24,809 | 8,228 | 5,216 | PDF p. 63 |
| Liabilities | |||||
| Total liabilities$'000 | 29,944 | 33,322 | 8,228 | 5,216 | PDF p. 63 |
| Net assets | |||||
| Net assets$'000 | 52,412 | 55,515 | 17,034 | 14,273 | PDF p. 63 |
Definitions & sources
Original report: PDF p. 63 ↗
At 31 December 2025. Amounts in $’000. Equity section continues on page 64.
Statements of Financial Position (Cont’d) – Equity (Group and Company)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Equity | |||||
| Share capital$'000 | 58,535 | 58,535 | 58,535 | 58,535 | PDF p. 64 |
| Currency translation reserve$'000 | (536) | (577) | – | – | PDF p. 64 |
| Capital and other reserves$'000 | (4,593) | (1,218) | – | – | PDF p. 64 |
| (Accumulated losses)/retained profit$'000 | (1,416) | 377 | (41,501) | (44,262) | PDF p. 64 |
| Equity attributable to equity holders of the Company, total$'000 | 51,990 | 57,117 | 17,034 | 14,273 | PDF p. 64 |
| Non-controlling interests$'000 | 422 | (1,602) | – | – | PDF p. 64 |
| Total equity$'000 | 52,412 | 55,515 | 17,034 | 14,273 | PDF p. 64 |
Definitions & sources
Original report: PDF p. 64 ↗
At 31 December 2025. Amounts in $’000.
Consolidated Statement of Comprehensive Income
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Profit | |||
| Profit for the financial year$’000 | 354 | 2,059 | PDF p. 62 |
| Other comprehensive income | |||
| Currency translation differences arising on consolidation$’000 | 100 | (5) | PDF p. 62 |
| Share of other comprehensive (loss)/income of joint venture$’000 | (90) | 41 | PDF p. 62 |
| Share of other comprehensive income/(loss) of associated companies$’000 | 93 | (29) | PDF p. 62 |
| Total other comprehensive income (unlabelled subtotal)$’000 | 103 | 7 | PDF p. 62 |
| Total comprehensive income | |||
| Total comprehensive income for the financial year$’000 | 457 | 2,066 | PDF p. 62 |
| Total comprehensive income attributable to | |||
| Equity holders of the Company$’000 | 1,184 | 2,693 | PDF p. 62 |
| Non-controlling interests$’000 | (727) | (627) | PDF p. 62 |
| Total attributable (unlabelled subtotal)$’000 | 457 | 2,066 | PDF p. 62 |
Definitions & sources
Original report: PDF p. 62 ↗
For the financial year ended 31 December 2025. The accompanying notes form an integral part of these financial statements. Unit $’000. No Company comprehensive income statement is printed.
Consolidated Statement of Cash Flows (operating and investing)
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before tax$’000 | 16 | 2,517 | PDF p. 67 |
| Operating activities - Adjustments | |||
| Amortisation of intangible assets$’000 | 720 | 564 | PDF p. 67 |
| Depreciation of property, plant and equipment$’000 | 1,646 | 1,640 | PDF p. 67 |
| Fair value gain on financial assets at fair value through profit or loss$’000 | (4) | (2) | PDF p. 67 |
| Foreign exchange difference$’000 | 113 | (60) | PDF p. 67 |
| (Gain)/loss on disposal of property, plant and equipment$’000 | (23) | 2 | PDF p. 67 |
| Gain on lease termination$’000 | – | (9) | PDF p. 67 |
| Intangible assets written off$’000 | 805 | 105 | PDF p. 67 |
| Interest expense$’000 | 701 | 779 | PDF p. 67 |
| Interest income$’000 | (263) | (319) | PDF p. 67 |
| Write-down of inventories$’000 | 551 | 1,654 | PDF p. 67 |
| Reversal of impairment loss on trade receivables$’000 | (848) | (8) | PDF p. 67 |
| Provision for warranty$’000 | – | 67 | PDF p. 67 |
| Reversal of provision for warranty$’000 | – | (5) | PDF p. 67 |
| Gain on deconsolidation of subsidiaries$’000 | (1,185) | 108 | PDF p. 67 |
| Share of results of joint venture$’000 | (688) | (857) | PDF p. 67 |
| Share of results of associated companies$’000 | (152) | 277 | PDF p. 67 |
| Operating activities | |||
| Operating cash flows before working capital changes$’000 | 1,389 | 6,453 | PDF p. 67 |
| Operating activities - Working capital | |||
| Inventories$’000 | (954) | (4,178) | PDF p. 67 |
| Contract assets$’000 | 1,353 | (880) | PDF p. 67 |
| Contract liabilities$’000 | (96) | (2,125) | PDF p. 67 |
| Receivables$’000 | 3,099 | 3,822 | PDF p. 67 |
| Payables$’000 | 178 | (762) | PDF p. 67 |
| Currency translation adjustments$’000 | (100) | (26) | PDF p. 67 |
| Operating activities | |||
| Cash generated from operations$’000 | 4,869 | 2,304 | PDF p. 67 |
| Income tax refunded/(paid)$’000 | 45 | (1,543) | PDF p. 67 |
| Net cash generated from operating activities$’000 | 4,914 | 761 | PDF p. 67 |
| Investing activities | |||
| Development costs$’000 | (1,135) | (1,413) | PDF p. 67 |
| Dividends received from associated companies$’000 | 16 | – | PDF p. 67 |
| Dividends received from a joint venture$’000 | 487 | 381 | PDF p. 67 |
| Loan repayment from associated company$’000 | 425 | – | PDF p. 67 |
| Proceeds from disposal of property, plant and equipment$’000 | 37 | 64 | PDF p. 67 |
| Purchases of property, plant and equipment (Note 9(b))$’000 | (422) | (698) | PDF p. 67 |
| Net cash used in investing activities$’000 | (592) | (1,666) | PDF p. 67 |
Definitions & sources
Original report: PDF p. 67 ↗
For the financial year ended 31 December 2025. The accompanying notes form an integral part of these financial statements. No Company cash flow statement is printed.
Consolidated Statement of Cash Flows (Cont’d) (financing and closing cash)
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Financing activities | |||
| Decrease in fixed deposits under pledge and restricted cash$’000 | – | 200 | PDF p. 68 |
| Dividend paid to shareholders (Note 27)$’000 | (1,535) | (2,065) | PDF p. 68 |
| Net (repayment)/drawdown of short-term borrowings$’000 | (1,249) | 5,554 | PDF p. 68 |
| Repayment of borrowings$’000 | (1,052) | (1,428) | PDF p. 68 |
| Repayment of lease liabilities$’000 | (368) | (441) | PDF p. 68 |
| Repayment of amount due to ultimate holding company$’000 | (269) | – | PDF p. 68 |
| Interest paid$’000 | (701) | (779) | PDF p. 68 |
| Net cash (used in)/generated from financing activities$’000 | (5,174) | 1,041 | PDF p. 68 |
| Net change in cash | |||
| Net (decrease)/increase in cash and cash equivalents$’000 | (852) | 136 | PDF p. 68 |
| Closing cash | |||
| Cash and cash equivalents at beginning of financial year$’000 | 5,301 | 5,105 | PDF p. 68 |
| Effects of exchange rate changes on cash and cash equivalents$’000 | (113) | 60 | PDF p. 68 |
| Cash and cash equivalents at end of financial year (Note 21)$’000 | 4,336 | 5,301 | PDF p. 68 |
Definitions & sources
Original report: PDF p. 68 ↗
For the financial year ended 31 December 2025. The accompanying notes form an integral part of these financial statements.
Group Statement of Changes in Equity - year ended 31 December 2025
13 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group - Share capital | 2025Group - Currency translation reserve | 2025Group - Capital and other reserves | 2025Group - Retained profit/(accumulated losses) | 2025Group - Total attributable to equity holders of the Company | 2025Group - Non-controlling interests | 2025Group - Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| At 1 January 2025$’000 | 58,535 | (577) | (1,218) | 377 | 57,117 | (1,602) | 55,515 | PDF p. 65 |
| Profit/(loss) for the financial$’000 | – | – | – | 1,081 | 1,081 | (727) | 354 | PDF p. 65 |
| Group - Other comprehensive income/(loss) | ||||||||
| Currency translation$’000 | – | 100 | – | – | 100 | – | 100 | PDF p. 65 |
| Share of other comprehensive$’000 | – | (90) | – | – | (90) | – | (90) | PDF p. 65 |
| Share of other comprehensive$’000 | – | 93 | – | – | 93 | – | 93 | PDF p. 65 |
| Other comprehensive income$’000 | – | 103 | – | – | 103 | – | 103 | PDF p. 65 |
| Group | ||||||||
| Total comprehensive income/$’000 | – | 103 | – | 1,081 | 1,184 | (727) | 457 | PDF p. 65 |
| Incorporation of a subsidiary$’000 | – | – | – | – | – | (95) | (95) | PDF p. 65 |
| Deconsolidation of$’000 | – | (62) | 1,339 | (1,339) | (62) | 1,846 | 1,784 | PDF p. 65 |
| Capital reserves (Note 28)$’000 | – | – | (3,714) | – | (3,714) | – | (3,714) | PDF p. 65 |
| Effects from shares issued to$’000 | – | – | (1,000) | – | (1,000) | 1,000 | – | PDF p. 65 |
| Dividend (Note 27)$’000 | – | – | – | (1,535) | (1,535) | – | (1,535) | PDF p. 65 |
| At 31 December 2025$’000 | 58,535 | (536) | (4,593) | (1,416) | 51,990 | 422 | 52,412 | PDF p. 65 |
Definitions & sources
Original report: PDF p. 65 ↗
All columns $’000. Rows in order: Share capital, Currency translation reserve, Capital and other reserves, Retained profit/(accumulated losses), Total, Non-controlling interests, Total equity. Notes form integral part of financial statements.
Group Statement of Changes in Equity - year ended 31 December 2024
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group - Share capital | 2024Group - Currency translation reserve | 2024Group - Capital and other reserves | 2024Group - Retained profit/(accumulated losses) | 2024Group - Total attributable to equity holders of the Company | 2024Group - Non-controlling interests | 2024Group - Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| At 1 January 2024$’000 | 58,535 | (584) | (1,342) | (309) | 56,300 | (894) | 55,406 | PDF p. 66 |
| Profit/(loss) for the financial$’000 | – | – | – | 2,686 | 2,686 | (627) | 2,059 | PDF p. 66 |
| Group - Other comprehensive income/(loss) | ||||||||
| Currency translation$’000 | – | (5) | – | – | (5) | – | (5) | PDF p. 66 |
| Share of other comprehensive$’000 | – | 41 | – | – | 41 | – | 41 | PDF p. 66 |
| Share of other comprehensive$’000 | – | (29) | – | – | (29) | – | (29) | PDF p. 66 |
| Other comprehensive income$’000 | – | 7 | – | – | 7 | – | 7 | PDF p. 66 |
| Group | ||||||||
| Total comprehensive income/$’000 | – | 7 | – | 2,686 | 2,693 | (627) | 2,066 | PDF p. 66 |
| Non-controlling interest$’000 | – | – | – | – | – | 133 | 133 | PDF p. 66 |
| Deconsolidation of a$’000 | – | – | 124 | 65 | 189 | (214) | (25) | PDF p. 66 |
| Dividend (Note 27)$’000 | – | – | – | (2,065) | (2,065) | – | (2,065) | PDF p. 66 |
| At 31 December 2024$’000 | 58,535 | (577) | (1,218) | 377 | 57,117 | (1,602) | 55,515 | PDF p. 66 |
Definitions & sources
Original report: PDF p. 66 ↗
All columns $’000; same column order as the 2025 Group statement. Printed as a continuation page.
Company Statement of Changes in Equity
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company - Share capital | 2024Company - Accumulated losses | 2024Company - Total equity | Source |
|---|---|---|---|---|
| Company | ||||
| At 1 January 2024$’000 | 58,535 | (45,377) | 13,158 | PDF p. 66 |
| Company 2024 | ||||
| Profit and total comprehensive income for the financial year$’000 | – | 3,180 | 3,180 | PDF p. 66 |
| Dividend (Note 27)$’000 | – | (2,065) | (2,065) | PDF p. 66 |
| Company | ||||
| At 31 December 2024$’000 | 58,535 | (44,262) | 14,273 | PDF p. 66 |
| Company 2025 | ||||
| Profit and total comprehensive income for the financial year$’000 | – | 4,296 | 4,296 | PDF p. 66 |
| Dividend (Note 27)$’000 | – | (1,535) | (1,535) | PDF p. 66 |
| Company | ||||
| At 31 December 2025$’000 | 58,535 | (41,501) | 17,034 | PDF p. 66 |
Definitions & sources
Original report: PDF p. 66 ↗
Columns $’000: Share capital, Accumulated losses, Total equity. Rows cover movements from 1 January 2024 through 31 December 2025 (2025 rows are printed in the same table).
Key Balance Sheet Highlights (Group)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023As at 31 Dec 2023, S$'000 | 2024As at 31 Dec 2024, S$'000 | 2025As at 31 Dec 2025, S$'000 | Source |
|---|---|---|---|---|
| Key Balance Sheet Highlights | ||||
| Total AssetsS$'000 | 88,362 | 88,837 | 82,356 | PDF p. 26 |
| Property, plant and equipmentS$'000 | 17,476 | 16,982 | 16,082 | PDF p. 26 |
| InventoriesS$'000 | 30,743 | 33,259 | 33,662 | PDF p. 26 |
| Cash and bank balancesS$'000 | 5,305 | 5,301 | 4,336 | PDF p. 26 |
| Total LiabilitiesS$'000 | 32,956 | 33,322 | 29,944 | PDF p. 26 |
| BorrowingsS$'000 | 7,954 | 12,080 | 9,779 | PDF p. 26 |
| Total EquityS$'000 | 55,406 | 55,515 | 52,412 | PDF p. 26 |
Definitions & sources
Original report: PDF p. 26 ↗
Key Statistics (Group)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2023FY2023, $'000 (EPS in cents per share) | 2024FY2024, $'000 (EPS in cents per share) | 2025FY2025, $'000 (EPS in cents per share) | Source |
|---|---|---|---|---|
| Revenue breakdown by segments | ||||
| Electrical and Technical Supply$'000 | 43,832 | 47,070 | 40,140 | PDF p. 26 |
| Security$'000 | 8,553 | 5,786 | 3,904 | PDF p. 26 |
| Integration Engineering$'000 | 6,769 | 7,529 | 4,264 | PDF p. 26 |
| Total revenue (unlabelled total row)$'000 | 59,154 | 60,385 | 48,308 | PDF p. 26 |
| Key Statistics | ||||
| NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS$'000 | 3,456 | 2,686 | 1,081 | PDF p. 26 |
| SHAREHOLDER’S EQUITY$'000 | 56,300 | 57,117 | 51,990 | PDF p. 26 |
| EARNINGS PER SHARE (CENTS PER SHARE)cents per share | 1.15 | 0.90 | 0.36 | PDF p. 26 |
Definitions & sources
Original report: PDF p. 26 ↗
Total revenue row is unlabelled in source. Shareholder's equity row is as printed and differs from Total Equity in the balance sheet highlights table.
Note 8 Earnings per share (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025 | 2024Group FY2024 | Source |
|---|---|---|---|
| Earnings per share | |||
| Net profit attributable to equity holders of the Company ($’000)$'000 | 1,081 | 2,686 | PDF p. 80 |
| Weighted average number of ordinary shares outstanding for basic and diluted earnings per share (’000)'000 shares | 300,000 | 300,000 | PDF p. 80 |
| Basic and diluted earnings per share (cents per share)cents per share | 0.36 | 0.90 | PDF p. 80 |
Definitions & sources
Original report: PDF p. 80 ↗
Basic earnings per share is calculated by dividing profit for the year attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the financial year.
As at 31 December 2025 and 31 December 2024, diluted earnings per share is similar to basic earnings per share as there were no dilutive potential ordinary shares.
Note 27 Dividend (Group)
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025, $'000 | 2024Group FY2024, $'000 | Source |
|---|---|---|---|
| Dividend | |||
| Tax-exempt one tier final dividend of 0.5 (2024: 0.7) cents per share paid in respect of the previous financial year$'000 | 1,535 | 2,065 | PDF p. 98 |
Definitions & sources
Original report: PDF p. 98 ↗
Dividend per share: 0.5 cents paid in 2025 (in respect of previous financial year) and 0.7 cents in 2024, as printed in the row label.
Where the money comes from
Segment information
By business
Segment information by business segment 13 lines
| Item / unit | 2025Electrical and Technical Supply | 2025Green LED Lighting | 2025Security | 2025Integration Engineering | 2025Corporate | 2025Eliminations | 2025Total | 2024Electrical and Technical Supply | 2024Green LED Lighting | 2024Security | 2024Integration Engineering | 2024Corporate | 2024Eliminations | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment revenue | |||||||||||||||
| Sales to external customers$’000 | 40,140 | – | 3,904 | 4,264 | – | – | 48,308 | 47,070 | – | 5,786 | 7,529 | – | – | 60,385 | PDF p. 109PDF p. 110 |
| Intersegment sales$’000 | 741 | – | 291 | 73 | – | (1,105) | – | 928 | – | 2,164 | 42 | – | (3,134) | – | PDF p. 109PDF p. 110 |
| Total revenue$’000 | 40,881 | – | 4,195 | 4,337 | – | (1,105) | 48,308 | 47,998 | – | 7,950 | 7,571 | – | (3,134) | 60,385 | PDF p. 109PDF p. 110 |
| Results | |||||||||||||||
| Segment results$’000 | 8,432 | – | (3,085) | (3,900) | (2,271) | – | (824) | 10,486 | – | (2,990) | (1,361) | (4,198) | – | 1,937 | PDF p. 109PDF p. 110 |
| Share of profit/(loss) from equity - accounted joint venture and associates$’000 | 688 | (104) | – | 256 | – | – | 840 | 857 | (277) | – | – | – | – | 580 | PDF p. 109PDF p. 110 |
| Other segment items | |||||||||||||||
| Depreciation and amortisation$’000 | 1,347 | – | 373 | 646 | – | – | 2,366 | 1,254 | – | 375 | 575 | – | – | 2,204 | PDF p. 109PDF p. 110 |
| Interest income$’000 | 8 | – | – | – | 255 | – | 263 | 9 | – | – | – | 310 | – | 319 | PDF p. 109PDF p. 110 |
| Finance cost$’000 | 659 | – | 22 | 20 | – | – | 701 | 747 | – | 29 | – | 3 | – | 779 | PDF p. 109PDF p. 110 |
| Other significant non-cash items$’000 | (1,237) | – | 61 | 1,684 | – | – | 508 | (371) | – | 476 | 1,708 | – | – | 1,813 | PDF p. 109PDF p. 110 |
| Assets | |||||||||||||||
| Segment assets$’000 | 53,590 | – | 12,079 | 8,937 | 6,334 | – | 80,940 | 55,142 | – | 13,040 | 12,501 | 6,676 | – | 87,359 | PDF p. 109PDF p. 110 |
| Segment assets includes | |||||||||||||||
| Investment in joint ventures and associates$’000 | 3,843 | – | – | – | – | – | 3,843 | 3,420 | – | – | – | – | – | 3,420 | PDF p. 109PDF p. 110 |
| Capital expenditure | |||||||||||||||
| Additions to non-current assets$’000 | 627 | – | 343 | 954 | – | – | 1,924 | 1,129 | – | 721 | 914 | – | – | 2,764 | PDF p. 109PDF p. 110 |
| Liabilities | |||||||||||||||
| Segment liabilities$’000 | 21,720 | – | 1,465 | 4,182 | 807 | – | 28,174 | 24,754 | – | 2,559 | 2,594 | 1,244 | – | 31,151 | PDF p. 109PDF p. 110 |
Notes
Unit $’000. Empty string = no value printed in that column (profit before tax, tax, profit after tax, unallocated assets/liabilities, total assets/liabilities are printed only under Total).
The Group has four main business segments: Electrical and Technical Supply, Green LED Lighting, Security and Integration Engineering.
Segment assets includes investment in joint ventures and associates. All assets are allocated to segments other than tax recoverable and deferred tax asset (unallocated). All liabilities are allocated other than tax payable and deferred tax liabilities (unallocated).
Unit $’000. Empty string = no value printed in that column (profit before tax, tax, profit after tax, unallocated and totals printed only under Total).
Significant non-cash items (other than depreciation and amortisation) 6 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Significant non-cash items | |||
| Provision for warranty$’000 | – | 67 | PDF p. 110 |
| Reversal of impairment loss on financial assets$’000 | (848) | (8) | PDF p. 110 |
| Reversal of provision for warranty$’000 | – | (5) | PDF p. 110 |
| Write down of inventories$’000 | 551 | 1,654 | PDF p. 110 |
| Intangible assets - written off$’000 | 805 | 105 | PDF p. 110 |
| Total$’000 | 508 | 1,813 | PDF p. 110 |
Notes
Breakdown of 'Other significant non-cash items' in segment note.
By geography
Geographical information: revenue and non-current assets 12 lines
| Item / unit | 2025Revenue | 2024Revenue | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$’000 | 31,846 | 40,242 | 21,363 | 22,546 | PDF p. 111 |
| Japan$’000 | 5,828 | 7,680 | 257 | 20 | PDF p. 111 |
| Indonesia$’000 | 3,263 | 2,569 | – | – | PDF p. 111 |
| Malaysia$’000 | 1,138 | 1,069 | – | – | PDF p. 111 |
| Vietnam$’000 | 928 | 626 | – | – | PDF p. 111 |
| United Arab Emirates$’000 | 801 | 1,767 | 3,512 | 3,400 | PDF p. 111 |
| The Netherlands$’000 | 702 | 1,211 | – | – | PDF p. 111 |
| Denmark$’000 | 560 | 444 | – | – | PDF p. 111 |
| Cyprus$’000 | 535 | 101 | – | – | PDF p. 111 |
| Australia$’000 | 309 | 248 | – | – | PDF p. 111 |
| Other countries$’000 | 2,398 | 4,428 | 94 | 101 | PDF p. 111 |
| Total (unlabelled)$’000 | 48,308 | 60,385 | 25,226 | 26,067 | PDF p. 111 |
Notes
Revenue and non-current assets based on the billing location of customers and assets respectively.
Other countries comprise South Korea, Italy, Greece, China and others.
Non-current assets presented are as in the consolidated statement of financial position excluding deferred tax assets, loan to an associated company and financial assets at fair value through profit or loss.
Total row printed without label.
Major customer: revenue of approximately $5,143,000 (2024: $4,911,000) from one external customer, 11% (2024: 8%) of Group revenue, mainly Electrical and Technical Supply Segment.
Debt
Borrowings
Borrowing notes 2 tables
Borrowings
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Borrowings by type | |||||
| Term loans (unsecured)$'000 | 474 | 1,526 | – | – | PDF p. 96 |
| Working capital loans (secured)$'000 | 9,305 | 10,554 | – | – | PDF p. 96 |
| Total borrowings$'000 | 9,779 | 12,080 | – | – | PDF p. 96 |
| Presented on the statements of financial position | |||||
| Non-current$'000 | – | 474 | – | – | PDF p. 96 |
| Current$'000 | 9,779 | 11,606 | – | – | PDF p. 96 |
Notes
Unsecured term loans covered by corporate guarantee from the Company. Working capital loans secured by legal mortgage of the Group's leasehold property and extension, addition and alteration works (Note 9) and covered by a corporate guarantee from the Company.
Interest rates: Term loans (unsecured) - Fixed rate of 2.5% (2024: 2.5%) per annum. Working capital loans - Variable rates ranging from 2.35% to 4.22% (2024: 4.22% to 5.37%) per annum.
Currency denomination not separately disclosed in the borrowings note; amounts in $'000.
Lease liabilities
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Lease liabilities | |||
| Current$'000 | 414 | 358 | PDF p. 97 |
| Non-current$'000 | 7,643 | 7,730 | PDF p. 97 |
Notes
Total printed: 8,057 (2025); 8,088 (2024).
Payout
Dividends & distributions
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Tax-exempt one tier final dividend | 0.5 cents per share | Group, paid in 2025 in respect of FY2024 (comparative: 0.7 cents paid in 2024 in respect of FY2023) | PDF p. 98 |
| Tax-exempt one tier final dividend | 0.7 cents per share | Group, paid in 2024 in respect of FY2023 (comparative year) | PDF p. 98 |
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 |
|---|---|---|---|
| Independent auditor | Baker Tilly TFW LLP | Group | PDF p. 60 |
| Engagement partner | Lim Teck Wee | Group | PDF p. 60 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Assessment of net realisable value of inventories | Assessment of net realisable value of inventories | Group | PDF p. 57 |
| Impairment assessment of loan to and amount due from an associated company | Impairment assessment of loan to and amount due from an associated company | Group and Company | 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.