A A-Sonic Aero BTJ

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 44 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 45 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 47 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 47 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 48 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 48 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 49 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 76 ↗

US dollars thousands; pledged bank deposits, not an overdraft. The Company columns genuinely stop at total cash.

Original report: PDF p. 76 ↗

Only the three Company cash component/total rows are disclosed; no invented Company pledge or cash-flow totals.

Original report: PDF p. 76 ↗

Current 1,487 plus noncurrent 664 equals 2,151 US dollars thousands. Separate rollforward prints closing 2,150; original one-thousand difference retained.

Original report: PDF p. 77 ↗

Source closing 2,150 is arithmetically consistent with this rollforward; balance sheet and Note 22 balances print 2,151. Not silently changed.

Original report: PDF p. 60 ↗

Original denominator 105,581 has superscript (1), not extra digits; explains 2,614,200 shares bought back.

Original report: PDF p. 70 ↗

FY2021 comparative explicitly Restated for bonus and warrant share arrangements. Original FY2021 EPS retained in its separate original-source table.

Original report: PDF p. 70 ↗

Superscripts (1)/(2)/(3) are original footnote markers. FY2021 94,041 plus 9,917 equals 103,958 thousand diluted shares.

Original report: PDF p. 67 ↗

Original FY2021 11.32 US cents and 58,479 thousand denominator; later FY2022 explicitly restates FY2021 to 7.04 and 94,041. Do not overwrite either source.

Original report: PDF p. 67 ↗

Original FY2021 58,479 plus 5,942 equals 64,421 thousand diluted shares, EPS10.27 US cents; later explicit restatement is separate.

Original report: PDF p. 95 ↗

Original balance-sheet reclassification only; no effect on profit or cash flows.

Original report: PDF p. 95 ↗

Original balance-sheet reclassification only; no effect on profit or cash flows.

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 44 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 45 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 47 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 48 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 49 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 50 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 47 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 47 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 45 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 48 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 49 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 50 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 51 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 46 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 44 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 45 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 47 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 48 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 49 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.

Original report: PDF p. 50 ↗

Five full financial years ended 31 December 2021–2025. Statements use US dollars thousands; EPS uses US cents and denominators are thousand ordinary shares. Group and Company balance sheets/equity remain separate; no standalone Company profit-or-loss or cash-flow statements are disclosed.

Baker Tilly TFW LLP gives a true-and-fair opinion, signed by Khor Boon Hong on 8 April 2026. Revenue recognition is a Key Audit Matter; the original opinion is unmodified.

Original FY 2025 cash-flow arithmetic discrepancy: operating 4,215 plus investing (678) plus financing (3,818) equals (281), but the source prints net decrease (218), all US$ thousand. Opening 43,231 minus printed 218 plus FX 495 equals 43,508, not printed closing 43,445: difference 63. Original printed cells are retained; no unsupported corrected cash-flow amount is substituted.

Closing cash 43,445 itself equals balance-sheet cash 45,860 less pledged fixed deposits 2,415 (FY 2024:45,430 less 2,199 equals 43,231). This is pledged-deposit treatment, not an overdraft. The earlier unaudited FY 2025 results show operating 3,747, investing(929), financing(3,009), net(191), FX 405 and the same 43,445 closing. They are separately dated unaudited figures and do not repair the later audited source’s arithmetic inconsistency. Later 1 H 2026 results also open with 43,445.

Original lease closing discrepancy: balance sheet and Note 22 component table show current 1,487 plus noncurrent 664 equals 2,151, while the Note 22 rollforward prints 2,150 (US$ thousand). The latter reconciles from 1,928 less 1,493 principal less 100 paid interest plus 100 expense plus 1,754 additions less 39 exchange. Both original totals remain; the one-thousand difference is not silently normalised. Total lease cash flow 1,947 includes distinct short-term/low-value lease expenses.

FY 2025 EPS 2.88 US cents uses 3,039 profit and 105,581 thousand weighted shares; FY 2024 EPS 2.70 uses 2,885/106,694. The superscript(1) on 105,581 is a footnote explaining 2,614,200 shares bought back. Year-end issued shares 104,055,921 and weighted-average shares are distinct. Buybacks were cancelled, not described as treasury shares.

FY 2021 original basic/diluted EPS 11.32/10.27 US cents and 58,479/64,421 thousand denominators are separately retained. FY 2022 explicitly restates FY 2021 to 7.04/6.37 and 94,041/103,958, with bonus-share and warrant explanations. Do not overwrite the original or portray both as the same EPS basis.

FY 2023 Note 35 reclassifies FY 2022 trade/other receivables 34,844 to 33,078 and cash 48,056 to 49,822, transfer 1,766 US$ thousand. Opening 2022 (prior FY 2021 closing) receivables 56,948 to 55,057 and cash 39,438 to 41,329 transfer 1,891. No effect on profit or cash-flow statements is disclosed. Both originally reported and reclassified balance-sheet columns remain. FY 2021 cash-flow impairment gross/net and disposal/ROU presentation differences leave cash subtotals unchanged.

Annual entity table includes 25 subsidiaries with a year-end interest, one former Korean subsidiary liquidated/deconsolidated October 2025, and four associates accounted for by equity method. India subsidiary 90% at year-end liquidated 27 February 2026. UBI Logistics(Australia) is consolidated at printed 38% effective Group interest because its intermediate parent holds 75% and effective control is disclosed;62% NCI has a different scope. PRC cash 7,875 US$ thousand is subject to local exchange controls, separately from pledged deposits.

Later completed acquisitions are separately dated: RES Malaysia 55% from 1 July 2026 through A-Sonic SCM, and 3 DC Solutions 60% from 1 October 2026 through A-Sonic Logistics. February RES proposal mentioned four subsidiaries while the completed July scope mentions two; unnamed subsidiary legal entities and ownership percentages are not invented. JGL pro forma enlarged-group FY 2025 illustrations are not substituted for audited annual figures.

Ownership as-at heading is 13 March 2026; the distribution subheading literally says 13 March 2025. Original date inconsistency retained. Distribution denominator 101,707,321 and 4,671 holders; top 20 registered accounts 84,015,321, printed 82.60%; public float 33.42% is a different scope. Rank 20 prints 208,500 shares and 0.19%, whereas dividing by the distribution denominator gives approximately 0.205% (two-decimal 0.21%); original printed 0.19% remains. One substantial holder JanetLC Tan 65.05% overlaps her registered account. Parent shares and ten statutory deemed subsidiary-interest records, including Renminbi registered capital, are not added together.

FY 2025 final dividend proposed 0.5 Singapore cent (S$0.005) per share is excluded from annual liabilities and subject to AGM. Separately dated 30 April 2026 AGM minutes record approval. Cash dividends paid 405 US$ thousand inFY 2025 relate toFY 2024, not the FY 2025 proposal. Presentation currency USD and dividend currency SGD retain their own units.

Original official SGX broadcast for the current annual is 15 April 2026 while the catalog records 14 April 2026. The FY 2024 annual broadcast is 11 April 2025 versus catalog 10 April 2025. These source dates are retained separately.