CH Offshore C13

Original report: PDF p. 90 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 90 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 91 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 92 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 92 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 92 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 92 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 93 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 117 ↗

US dollars thousands. Deposits have one-to-three-month maturity. Group closing cash 19,086 is not Company cash 13,644.

Original report: PDF p. 117 ↗

US dollars thousands. Deposits have one-to-three-month maturity. Group closing cash 19,086 is not Company cash 13,644.

Original report: PDF p. 126 ↗

Payments include interest; principal in cash-flow statement is separate. Group total 711, Company total 686.

Original report: PDF p. 126 ↗

Payments include interest; principal in cash-flow statement is separate. Group total 711, Company total 686.

Original report: PDF p. 132 ↗

US-cent loss per share uses loss attributable to shareholders 1,903, not total Group loss 776. Weighted shares are thousands, not whole register shares. No potential dilutive ordinary shares disclosed.

Original report: PDF p. 72 ↗

Original other income 1,836 and expenses (3,248) retained; later FY2022 comparative grosses up both by 137 to 1,973 and (3,385). Net profit unchanged; source Note17 original net writeback 1,136 versus later gross writeback 1,273.

Original report: PDF p. 77 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 77 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 78 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 79 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 79 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 80 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 76 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 76 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 77 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 78 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 78 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 79 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 78 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 78 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 79 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 80 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 80 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.

Original report: PDF p. 81 ↗

Five full financial years ended 31 December 2021–2025. Financial statements use US dollars thousands; EPS uses US cents and weighted-share denominators thousand ordinary shares. Group and Company financial position and changes in equity are separate. No standalone Company income or cash-flow statement is disclosed.

Ernst & Young LLP gives a true-and-fair opinion signed by Shekaran Krishnan on 17 March 2026. Vessel impairment assessment is a Key Audit Matter, with five vessels carrying 36,206 US$ thousands and additional impairment 1,500. Original opinion is unmodified. Company net current liabilities 3,397 (prior 15,563) are separately disclosed with subsidiaries undertaking not to call balances for the next twelve months; this does not turn the audit into a modified opinion.

Group closing cash 19,086 equals cash on hand 13 plus bank 6,180 plus one-to-three-month deposits 12,893 US$ thousands; Company cash is separately 13,644. Operating 6,307 plus investing (4,539) plus financing 9,243 equals net increase 11,011; opening 7,847 plus 11,011 plus FX 228 equals 19,086. Rights proceeds 10,769 are financing, not operating cash growth. Later 24 April 2026 AGM minutes say proceeds remain in banks/deposits pending deployment.

Group lease liabilities 711 equal current 157 plus noncurrent 554; Company liabilities 686 equal 144 plus 542 US$ thousands. Group payments 161 include interest 45, leaving cash-flow principal 116; total lease cash outflow 189 includes short-term and low-value leases. Company payments 146 and interest 43 have their own scope. No Group/Company lease columns are combined.

Completed rights issue on 19 June 2025 issued 1,409,785,028 new shares at S$0.01 on a two-for-one basis. Gross proceeds S$14,097,850 and financial-statement net proceeds US$10,769 thousand retain their own currency and expense scopes. Year-end issued whole shares 2,114,875,542 include treasury 198,000. EPS uses 1,461,928 thousand weighted shares, excludes treasury and is not the year-end register denominator. Shareholder loss 1,903, not total Group loss 776, supports loss 0.13 US cent; prior profit 1,138/704,893 supports 0.16.

FY 2021 original other income 1,836 and other expenses(3,248) US$ thousands are separately retained. Later FY 2022 comparative reports 1,973 and(3,385), both grossed up 137: net result unchanged. Original Note 17 prints net credit-loss writeback 1,136; later Note 16 shows gross writeback 1,273, with 137 expense separately reflected. Other 23 consecutive statement comparisons agree in nonzero amounts. This presentation difference does not invent a primary profit or cash-flow restatement.

Company reversal of prior subsidiary-investment impairment 3,757 US$ thousands is separate from Group vessel impairment 1,500. Vessel arbitration/enforcement remained ongoing: FY 2023 impairment 3,100, no FY 2024 impairment/reversal, FY 2025 further 1,500 following another one-to-two-year timing estimate. The separately dated 18 April 2026 reply clarifies US$22,370,976.88 is security sought in US proceedings, not an amount the Company expects to receive; potential recovery remains limited by funds in a specific Texas account. It is not recognised cash or a certain recoverable asset. The reply says no other substantial liquid assets had been identified.

Annual-report directors are seven people including issuer CEO Benety Chang. Jeanette Chang CEO and Tan Kiang Kherng CFO positions are at ultimate parent Baker Technology, not issuer executive roles. Rashidah Binte Abdul Rashid was promoted to Managing Director of subsidiary CHO Ship Management on 13 January 2026; Lee Mun Keat promoted from Financial Controller to Group CFO in March 2026. These annual-report roles are explicitly after the FY 2025 year-end.

Register as at 13 March 2026 has 2,114,677,542 shares excluding treasury,2,941 holders and top 20 total 1,773,879,414 (83.89%). Public float 45.02% is a separate measure. BT Investment direct 1,162,605,900 (54.98%) and Baker Technology, Benety Chang and Doris Heng deemed positions describe the same overlapping block, not four blocks. Register capital is in Singapore dollars; financial issued capital and treasury value in US$ thousands are distinct. Benety Chang ultimate-parent shareholding 94,151,601 direct and 19,151,771 deemed is not extra CH Offshore stock.

Fourteen original subsidiary holding rows represent thirteen distinct legal names, with Interseas 29% held by CHO Investment and 51% held by Sea Offshore Assets. Those direct intermediate ownership percentages are not a simple effective-ownership total. High Majestic, Sea Offshore Assets and Green Ocean Assets at 49% are consolidated because majority board control is disclosed. Green Ocean dilution from 100% to 49% in March 2024 did not remove control. PT Bahtera Nusantara Indonesia 49% is an associate held by Venture Offshore; nil investment value and unrecognised losses 907 (prior 147) US$ thousands do not mean no associate. Its net loan 2,155 is a separate asset.

Five-year financial highlights print no dividends per share for FY 2021–FY 2025. No final dividend is invented from a general share right or generic dividend policy. Original current annual broadcast 8 April 2026 and catalog 7 April 2026 are retained separately.