Hong Lai Huat CTO
SGD 0.06
+0.00% +0.00 Updated 23 Oct 2026, 17:16 SGT
Financials
Annual Report 2025
Explore the statements
9 tablesConsolidated Statement of Comprehensive Income - Group
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Continuing operations | |||
| Revenue$'000 | 2,781 | 102 | PDF p. 44 |
| Cost of sales$'000 | (1,264) | (87) | PDF p. 44 |
| Gross profit$'000 | 1,517 | 15 | PDF p. 44 |
| Other income$'000 | 3,655 | 1,205 | PDF p. 44 |
| Distribution and selling expenses$'000 | (120) | (3) | PDF p. 44 |
| Administrative expenses$'000 | (5,846) | (4,852) | PDF p. 44 |
| Bad debts written off$'000 | (413) | – | PDF p. 44 |
| Write-down of development properties$'000 | (1,436) | (6,051) | PDF p. 44 |
| Gain on transfer of development properties to investment properties$'000 | 16,901 | – | PDF p. 44 |
| Other expenses$'000 | (931) | (574) | PDF p. 44 |
| Finance costs$'000 | (55) | (668) | PDF p. 44 |
| Share of loss of an associated company$'000 | (333) | (46) | PDF p. 44 |
| Share of profit of a joint venture$'000 | 1,924 | 3,691 | PDF p. 44 |
| Profit/(loss) before tax$'000 | 14,863 | (7,283) | PDF p. 44 |
| Income tax expense$'000 | (118) | (582) | PDF p. 44 |
| Profit/(loss) from continuing operations$'000 | 14,745 | (7,865) | PDF p. 44 |
| Loss from discontinued operations, net of tax$'000 | – | (5,287) | PDF p. 44 |
| Profit/(loss) for the financial year$'000 | 14,745 | (13,152) | PDF p. 44 |
| Items that are or may be reclassified subsequently to profit or loss | |||
| Currency translation differences arising on consolidation$'000 | (2,736) | 1,941 | PDF p. 44 |
| Share of other comprehensive (loss)/income of a joint venture$'000 | (1,471) | 728 | PDF p. 44 |
| Share of other comprehensive (loss)/income of an associated company$'000 | (398) | 217 | PDF p. 44 |
| Reclassification of currency translation reserve to profit or loss upon disposal of subsidiaries$'000 | – | 3,850 | PDF p. 44 |
| Items that will not be reclassified subsequently to profit or loss | |||
| Currency translation differences arising on consolidation$'000 | 15 | (4) | PDF p. 44 |
| Other comprehensive income | |||
| Other comprehensive (loss)/income for the financial year, net of tax$'000 | (4,590) | 6,732 | PDF p. 44 |
| Total comprehensive income | |||
| Total comprehensive income/(loss) for the financial year$'000 | 10,155 | (6,420) | PDF p. 44 |
| Profit/(loss) attributable to | |||
| Equity holders of the Company$'000 | 14,676 | (12,927) | PDF p. 44 |
| Non-controlling interests$'000 | 69 | (225) | PDF p. 44 |
| Profit/(loss) for the financial year$'000 | 14,745 | (13,152) | PDF p. 44 |
| Profit/(loss) attributable to equity holders of the Company relates to | |||
| Profit/(loss) from continuing operations$'000 | 14,676 | (7,640) | PDF p. 44 |
| Loss from discontinued operations$'000 | – | (5,287) | PDF p. 44 |
| Subtotal$'000 | 14,676 | (12,927) | PDF p. 44 |
| Total comprehensive income/(loss) attributable to | |||
| Equity holders of the Company$'000 | 10,071 | (6,191) | PDF p. 44 |
| Non-controlling interests$'000 | 84 | (229) | PDF p. 44 |
| Subtotal$'000 | 10,155 | (6,420) | PDF p. 44 |
| From continuing and discontinued operations | |||
| Basic and dilutedcents per share | 2.84 | (2.50) | PDF p. 44 |
| From continuing operations | |||
| Basic and dilutedcents per share | 2.84 | (1.48) | PDF p. 44 |
| From discontinued operations | |||
| Basic and dilutedcents per share | – | (1.02) | PDF p. 44 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 44 ↗
Year ended 31 December 2025. Profit/(loss) per share for profit/(loss) attributable to equity holders of the Company (cents per share).
The accompanying notes form an integral part of these financial statements.
Statements of Financial Position - Group and Company
37 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| Property, plant and equipment$'000 | 1,493 | 1,674 | 207 | 317 | PDF p. 45 |
| Right-of-use assets$'000 | 672 | 179 | 261 | – | PDF p. 45 |
| Investment properties$'000 | 33,287 | – | – | – | PDF p. 45 |
| Intangible assets$'000 | 61 | 144 | – | – | PDF p. 45 |
| Investment in an associated company$'000 | 6,833 | 7,564 | – | – | PDF p. 45 |
| Investment in subsidiaries$'000 | – | – | 57,188 | 58,119 | PDF p. 45 |
| Investment in a joint venture$'000 | 27,277 | 26,824 | – | – | PDF p. 45 |
| Trade and other receivables$'000 | 2,568 | – | – | – | PDF p. 45 |
| Financial assets at fair value through profit or loss$'000 | 254 | 254 | 254 | 254 | PDF p. 45 |
| Total non-current assets$'000 | 72,445 | 36,639 | 57,910 | 58,690 | PDF p. 45 |
| Current assets | |||||
| Trade and other receivables$'000 | 2,405 | 5,446 | 108 | 93 | PDF p. 45 |
| Financial assets at fair value through profit or loss$'000 | 20 | 20 | – | – | PDF p. 45 |
| Development properties$'000 | 20,711 | 41,029 | – | – | PDF p. 45 |
| Amounts due from subsidiaries$'000 | – | – | 54,040 | 57,556 | PDF p. 45 |
| Cash and cash equivalents$'000 | 21,576 | 27,459 | 3,960 | 7,120 | PDF p. 45 |
| Total current assets$'000 | 44,712 | 73,954 | 58,108 | 64,769 | PDF p. 45 |
| ASSETS | |||||
| Total assets$'000 | 117,157 | 110,593 | 116,018 | 123,459 | PDF p. 45 |
| Non-current liabilities | |||||
| Lease liabilities$'000 | 253 | 77 | 98 | – | PDF p. 45 |
| Deferred tax liabilities$'000 | 17 | 17 | 17 | 17 | PDF p. 45 |
| Total non-current liabilities$'000 | 270 | 94 | 115 | 17 | PDF p. 45 |
| Current liabilities | |||||
| Amounts due to subsidiaries$'000 | – | – | 14,052 | 19,527 | PDF p. 46 |
| Lease liabilities$'000 | 103 | 35 | 35 | – | PDF p. 46 |
| Borrowings$'000 | – | 613 | – | 613 | PDF p. 46 |
| Trade payables$'000 | – | 387 | – | – | PDF p. 46 |
| Other payables and accruals$'000 | 2,104 | 3,870 | 367 | 600 | PDF p. 46 |
| Contract liabilities$'000 | – | 126 | – | – | PDF p. 46 |
| Loan from controlling shareholder$'000 | – | 353 | – | – | PDF p. 46 |
| Tax payable$'000 | 3 | 236 | – | – | PDF p. 46 |
| Total current liabilities$'000 | 2,210 | 5,620 | 14,454 | 20,740 | PDF p. 46 |
| LIABILITIES | |||||
| Total liabilities$'000 | 2,480 | 5,714 | 14,569 | 20,757 | PDF p. 46 |
| EQUITY | |||||
| Share capital$'000 | 120,666 | 121,023 | 120,666 | 121,023 | PDF p. 46 |
| Accumulated losses$'000 | (2,299) | (16,975) | (18,758) | (17,862) | PDF p. 46 |
| Capital reserve$'000 | 414 | 414 | (459) | (459) | PDF p. 46 |
| Foreign currency translation reserve$'000 | (3,975) | 630 | – | – | PDF p. 46 |
| Non-controlling interests$'000 | (129) | (213) | – | – | PDF p. 46 |
| Total equity$'000 | 114,677 | 104,879 | 101,449 | 102,702 | PDF p. 46 |
| Total equity and liabilities$'000 | 117,157 | 110,593 | 116,018 | 123,459 | PDF p. 46 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 45 ↗ PDF p. 46 ↗
At 31 December 2025. Balance sheet spans physical pages 45 (assets, non-current liabilities) and 46 (current liabilities, equity).
The accompanying notes form an integral part of these financial statements.
Consolidated Statement of Comprehensive Income (Group)
32 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Continuing operations | |||
| Revenue$'000 | 2,781 | 102 | PDF p. 44 |
| Cost of sales$'000 | (1,264) | (87) | PDF p. 44 |
| Gross profit$'000 | 1,517 | 15 | PDF p. 44 |
| Other income$'000 | 3,655 | 1,205 | PDF p. 44 |
| Distribution and selling expenses$'000 | (120) | (3) | PDF p. 44 |
| Administrative expenses$'000 | (5,846) | (4,852) | PDF p. 44 |
| Bad debts written off$'000 | (413) | – | PDF p. 44 |
| Write-down of development properties$'000 | (1,436) | (6,051) | PDF p. 44 |
| Gain on transfer of development properties to investment properties$'000 | 16,901 | – | PDF p. 44 |
| Other expenses$'000 | (931) | (574) | PDF p. 44 |
| Finance costs$'000 | (55) | (668) | PDF p. 44 |
| Share of loss of an associated company$'000 | (333) | (46) | PDF p. 44 |
| Share of profit of a joint venture$'000 | 1,924 | 3,691 | PDF p. 44 |
| Profit/(loss) before tax$'000 | 14,863 | (7,283) | PDF p. 44 |
| Income tax expense$'000 | (118) | (582) | PDF p. 44 |
| Profit/(loss) from continuing operations$'000 | 14,745 | (7,865) | PDF p. 44 |
| Discontinued operations | |||
| Loss from discontinued operations, net of tax$'000 | – | (5,287) | PDF p. 44 |
| Profit for the year | |||
| Profit/(loss) for the financial year$'000 | 14,745 | (13,152) | PDF p. 44 |
| Items that are or may be reclassified subsequently to profit or loss | |||
| Currency translation differences arising on consolidation$'000 | (2,736) | 1,941 | PDF p. 44 |
| Share of other comprehensive (loss)/income of a joint venture$'000 | (1,471) | 728 | PDF p. 44 |
| Share of other comprehensive (loss)/income of an associated company$'000 | (398) | 217 | PDF p. 44 |
| Reclassification of currency translation reserve to profit or loss upon disposal of subsidiaries$'000 | – | 3,850 | PDF p. 44 |
| Items that will not be reclassified subsequently to profit or loss | |||
| Currency translation differences arising on consolidation$'000 | 15 | (4) | PDF p. 44 |
| Other comprehensive income | |||
| Other comprehensive (loss)/income for the financial year, net of tax$'000 | (4,590) | 6,732 | PDF p. 44 |
| Total comprehensive income | |||
| Total comprehensive income/(loss) for the financial year$'000 | 10,155 | (6,420) | PDF p. 44 |
| Profit/(loss) attributable to | |||
| Equity holders of the Company$'000 | 14,676 | (12,927) | PDF p. 44 |
| Non-controlling interests$'000 | 69 | (225) | PDF p. 44 |
| Profit/(loss) attributable to equity holders of the Company relates to | |||
| Profit/(loss) from continuing operations$'000 | 14,676 | (7,640) | PDF p. 44 |
| Loss from discontinued operations$'000 | – | (5,287) | PDF p. 44 |
| Total comprehensive income/(loss) attributable to | |||
| Equity holders of the Company$'000 | 10,071 | (6,191) | PDF p. 44 |
| Non-controlling interests$'000 | 84 | (229) | PDF p. 44 |
| Profit/(loss) per share – From continuing and discontinued operations | |||
| Basic and dilutedcents per share | 2.84 | (2.50) | PDF p. 44 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 44 ↗
Note column references omitted from values. EPS rows for continuing operations (2.84; (1.48)) and discontinued operations (–; (1.02)) also printed with the same label 'Basic and diluted'.
Consolidated Statement of Changes in Equity (Group) – 2025
8 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital $'000 | 2025Group, Accumulated losses $'000 | 2025Group, Capital reserve $'000 | 2025Group, Foreign currency translation reserve $'000 | 2025Group, Total attributable to equity holders of the Company $'000 | 2025Group, Non-controlling interests $'000 | 2025Group, Total equity $'000 | Source |
|---|---|---|---|---|---|---|---|---|
| 2025 | ||||||||
| Balance at 1 January 2025$'000 | 121,023 | (16,975) | 414 | 630 | 105,092 | (213) | 104,879 | PDF p. 47 |
| Profit for the financial year$'000 | – | 14,676 | – | – | 14,676 | 69 | 14,745 | PDF p. 47 |
| 2025 Other comprehensive (loss)/income | ||||||||
| Currency translation differences arising on consolidation$'000 | – | – | – | (2,736) | (2,736) | 15 | (2,721) | PDF p. 47 |
| Share of other comprehensive loss of a joint venture$'000 | – | – | – | (1,471) | (1,471) | – | (1,471) | PDF p. 47 |
| Share of other comprehensive loss of an associated company$'000 | – | – | – | (398) | (398) | – | (398) | PDF p. 47 |
| 2025 | ||||||||
| Total comprehensive income/(loss) for the financial year$'000 | – | 14,676 | – | (4,605) | 10,071 | 84 | 10,155 | PDF p. 47 |
| 2025 Transactions with owners, recognised directly in equity | ||||||||
| Share buyback and cancellation (Note 31)$'000 | (357) | – | – | – | (357) | – | (357) | PDF p. 47 |
| 2025 | ||||||||
| Balance at 31 December 2025$'000 | 120,666 | (2,299) | 414 | (3,975) | 114,806 | (129) | 114,677 | PDF p. 47 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 47 ↗
Row labels wrap across lines in source; quotes for some rows are the value-bearing line(s).
Consolidated Statement of Changes in Equity (Group) – 2024
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, Share capital $'000 | 2024Group, Accumulated losses $'000 | 2024Group, Capital reserve $'000 | 2024Group, Foreign currency translation reserve $'000 | 2024Group, Total attributable to equity holders of the Company $'000 | 2024Group, Non-controlling interests $'000 | 2024Group, Total equity $'000 | Source |
|---|---|---|---|---|---|---|---|---|
| 2024 | ||||||||
| Balance at 1 January 2024$'000 | 121,023 | (4,048) | 414 | (6,106) | 111,283 | – | 111,283 | PDF p. 47 |
| Loss for the financial year$'000 | – | (12,927) | – | – | (12,927) | (225) | (13,152) | PDF p. 47 |
| 2024 Other comprehensive income/(loss) | ||||||||
| Currency translation differences arising on consolidation$'000 | – | – | – | 1,941 | 1,941 | (4) | 1,937 | PDF p. 47 |
| Share of other comprehensive income of a joint venture$'000 | – | – | – | 728 | 728 | – | 728 | PDF p. 47 |
| Share of other comprehensive income of an associated company$'000 | – | – | – | 217 | 217 | – | 217 | PDF p. 47 |
| Currency translation differences reclassified to profit or loss upon disposal of subsidiaries$'000 | – | – | – | 3,850 | 3,850 | – | 3,850 | PDF p. 47 |
| 2024 | ||||||||
| Total comprehensive (loss)/income for the financial year$'000 | – | (12,927) | – | 6,736 | (6,191) | (229) | (6,420) | PDF p. 47 |
| 2024 Transactions with owners, recognised directly in equity | ||||||||
| Contribution of equity by non-controlling shareholders$'000 | – | – | – | – | – | 16 | 16 | PDF p. 47 |
| 2024 | ||||||||
| Balance at 31 December 2024$'000 | 121,023 | (16,975) | 414 | 630 | 105,092 | (213) | 104,879 | PDF p. 47 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 47 ↗
Row labels wrap across lines in source; quotes for some rows are the value-bearing line(s).
Consolidated Statement of Cash Flows (Group)
57 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, $'000 | 2024Group, $'000 | Source |
|---|---|---|---|
| Operating activities | |||
| Profit/(loss) before tax – Continuing operations$'000 | 14,863 | (7,283) | PDF p. 49 |
| Profit/(loss) before tax – Discontinued operations$'000 | – | (5,287) | PDF p. 49 |
| Depreciation of property, plant and equipment$'000 | 310 | 537 | PDF p. 49 |
| Depreciation of right-of-use assets$'000 | 156 | 1,375 | PDF p. 49 |
| Amortisation of intangible assets$'000 | 118 | 100 | PDF p. 49 |
| Gain on transfer of development properties to investment properties$'000 | (16,901) | – | PDF p. 49 |
| Write-down of development properties$'000 | 1,436 | 6,051 | PDF p. 49 |
| Bad debts written off$'000 | 413 | – | PDF p. 49 |
| Gain on disposal of property, plant and equipment$'000 | (6) | (121) | PDF p. 49 |
| Gain on disposal of right-of-use assets$'000 | – | (253) | PDF p. 49 |
| Loss from disposal of subsidiaries$'000 | – | 2,997 | PDF p. 49 |
| Net loss on change in fair value of financial assets at fair value through profit or loss$'000 | – | 9 | PDF p. 49 |
| Foreign exchange adjustments$'000 | 1,174 | 284 | PDF p. 49 |
| Interest income$'000 | (983) | (85) | PDF p. 49 |
| Interest expense$'000 | 55 | 668 | PDF p. 49 |
| Net gain on repossession of development properties$'000 | – | (82) | PDF p. 49 |
| Property, plant and equipment written off$'000 | 13 | 80 | PDF p. 49 |
| Share of loss of an associated company$'000 | 333 | 46 | PDF p. 49 |
| Share of profit of a joint venture$'000 | (1,924) | (3,691) | PDF p. 49 |
| Operating cash flows before movement in working capital$'000 | (943) | (4,655) | PDF p. 49 |
| Trade receivables and contract assets$'000 | (542) | 94 | PDF p. 49 |
| Other receivables and deposits$'000 | (482) | 330 | PDF p. 49 |
| Prepayments$'000 | 110 | 153 | PDF p. 49 |
| Development properties$'000 | 386 | 89 | PDF p. 49 |
| Trade payables and contract liabilities$'000 | (373) | (17) | PDF p. 49 |
| Other payables and accruals$'000 | (1,783) | (1,225) | PDF p. 49 |
| Currency translation adjustments$'000 | (615) | 308 | PDF p. 49 |
| Cash used in operations$'000 | (4,242) | (4,923) | PDF p. 49 |
| Income tax paid$'000 | (341) | (238) | PDF p. 49 |
| Net cash used in operating activities$'000 | (4,583) | (5,161) | PDF p. 49 |
| Investing activities | |||
| Interest received$'000 | 983 | 85 | PDF p. 50 |
| Loan to third party$'000 | (2,568) | – | PDF p. 50 |
| Purchase of property, plant and equipment$'000 | (181) | (412) | PDF p. 50 |
| Purchase of intangible assets$'000 | (42) | (244) | PDF p. 50 |
| Proceeds from disposal of property, plant and equipment$'000 | 14 | 314 | PDF p. 50 |
| Proceeds from disposal of right-of-use assets$'000 | – | 294 | PDF p. 50 |
| Proceeds from the disposal of subsidiaries, net of disposal transaction costs (Note A)$'000 | 3,520 | 39,461 | PDF p. 50 |
| Net cash generated from investing activities$'000 | 1,726 | 39,498 | PDF p. 50 |
| Financing activities | |||
| Interest paid$'000 | (55) | (668) | PDF p. 50 |
| Contribution of equity by non-controlling shareholders$'000 | – | 16 | PDF p. 50 |
| Repayment of controlling shareholder loan$'000 | (341) | (545) | PDF p. 50 |
| Purchase of right-of-use assets (Note B)$'000 | (339) | – | PDF p. 50 |
| Share buyback and cancellation$'000 | (357) | – | PDF p. 50 |
| Proceeds from loan from controlling shareholder and payment on behalf$'000 | – | 340 | PDF p. 50 |
| Repayment of bank loans$'000 | (613) | (7,586) | PDF p. 50 |
| Repayment of lease liabilities$'000 | (66) | (162) | PDF p. 50 |
| Net cash used in financing activities$'000 | (1,771) | (8,605) | PDF p. 50 |
| Cash and cash equivalents | |||
| Net (decrease)/increase in cash and cash equivalents$'000 | (4,628) | 25,732 | PDF p. 50 |
| Cash and cash equivalents at beginning of financial year$'000 | 27,459 | 1,617 | PDF p. 50 |
| Effects of exchange rate changes on cash and cash equivalents$'000 | (1,255) | 110 | PDF p. 50 |
| Cash and cash equivalents at end of financial year$'000 | 21,576 | 27,459 | PDF p. 50 |
| Note A: Proceeds from the disposal of subsidiaries | |||
| Consideration received, satisfied by cash$'000 | 3,520 | 45,228 | PDF p. 50 |
| Less: Disposal transaction costs$'000 | – | (5,767) | PDF p. 50 |
| Net cash inflow for disposal of subsidiaries$'000 | 3,520 | 39,461 | PDF p. 50 |
| Note B: Purchase of right-of-use assets | |||
| Aggregate cost of right-of-use assets acquired (Note 14)$'000 | 649 | – | PDF p. 50 |
| Less: New lease liabilities (Note 24)$'000 | (310) | – | PDF p. 50 |
| Net cash outflow for purchase of right-of-use assets$'000 | 339 | – | PDF p. 50 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 49 ↗ PDF p. 50 ↗
Spans pages 49-50. The printed subtotal line after the PBT split (14,863 / (12,570)) is a total without a label and is not extracted as a separate row. No separate Company cash flow statement is presented.
Note 12(i) Profit/(loss) per share - continuing and discontinued operations (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share | |||
| Profit/(loss) for the financial year attributable to equity holders of the Company ($’000)$’000 | 14,676 | (12,927) | PDF p. 65 |
| Weighted average number of ordinary shares for basic and diluted earnings per share (’000)’000 shares | 517,499 | 517,844 | PDF p. 65 |
| Basic and diluted earnings per share (cents per share)cents per share | 2.84 | (2.50) | PDF p. 65 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 65 ↗
The calculation of the basic and diluted profit/(loss) per share based on the Group’s profit/(loss) for the financial year attributable to the ordinary equity holders of the Company divided by the weighted average number of ordinary shares outstanding.
Note 12(ii) Profit/(loss) per share - continuing operations (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share - continuing operations | |||
| Profit/(loss) for the financial year attributable to equity holders of the Company ($’000)$’000 | 14,676 | (7,640) | PDF p. 66 |
| Weighted average number of ordinary shares for basic and diluted earnings per share (’000)’000 shares | 517,499 | 517,844 | PDF p. 66 |
| Basic and diluted earnings per share (cents per share)cents per share | 2.84 | (1.48) | PDF p. 66 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 66 ↗
Note 12(iii) Loss per share - discontinued operations (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Earnings per share - discontinued operations | |||
| Loss for the financial year attributable to equity holders of the Company ($’000)$’000 | – | (5,287) | PDF p. 66 |
| Weighted average number of ordinary shares for basic and diluted earnings per share (’000)’000 shares | – | 517,844 | PDF p. 66 |
| Basic and diluted earnings per share (cents per share)cents per share | – | (1.02) | PDF p. 66 |
No matching metrics in this statement. Try another term or clear the search.
Definitions & sources
Original report: PDF p. 66 ↗
Where the money comes from
Segment information
By business
Segment information 2025 - Continuing operations by business segment 20 lines
| Item / unit | 2025Marble mining division | 2025Property development and real estate division | 2025Others | 2025Elimination | 2025Total (continuing operations) | Source |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| External sales$’000 | 1,793 | 988 | – | – | 2,781 | PDF p. 92 |
| Inter-segment sales$’000 | – | 50 | 2,100 | (2,150) | – | PDF p. 92 |
| Total revenue$’000 | 1,793 | 1,038 | 2,100 | (2,150) | 2,781 | PDF p. 92 |
| Results | ||||||
| Segment profit/(loss)$’000 | 229 | 13,493 | (896) | 1,919 | 14,745 | PDF p. 92 |
| Depreciation of property, plant and equipment and right-of-use assets$’000 | (20) | (267) | (179) | – | (466) | PDF p. 92 |
| Amortisation of intangible assets$’000 | – | (118) | – | – | (118) | PDF p. 92 |
| Property, plant and equipment written off$’000 | – | (13) | – | – | (13) | PDF p. 92 |
| Finance costs$’000 | – | (38) | (17) | – | (55) | PDF p. 92 |
| Income tax expense$’000 | (21) | (14) | (83) | – | (118) | PDF p. 92 |
| Gain on disposal of property, plant and equipment$’000 | 6 | – | – | – | 6 | PDF p. 92 |
| Gain on transfer of development properties to investment properties$’000 | – | 16,901 | – | – | 16,901 | PDF p. 92 |
| Write-down of development properties$’000 | – | (1,436) | – | – | (1,436) | PDF p. 92 |
| Interest income$’000 | – | 834 | 149 | – | 983 | PDF p. 92 |
| Share of loss of an associated company$’000 | – | (333) | – | – | (333) | PDF p. 92 |
| Share of profit of a joint venture$’000 | – | 1,924 | – | – | 1,924 | PDF p. 92 |
| Assets | ||||||
| Segment assets$’000 | 666 | 111,700 | 4,791 | – | 117,157 | PDF p. 92 |
| Segment assets include | ||||||
| Additions to non-current assets$’000 | – | 542 | 330 | – | 872 | PDF p. 92 |
| Investment in an associated company$’000 | – | 6,833 | – | – | 6,833 | PDF p. 92 |
| Investment in a joint venture$’000 | – | 27,277 | – | – | 27,277 | PDF p. 92 |
| Liabilities | ||||||
| Segment liabilities$’000 | (621) | (1,342) | (517) | – | (2,480) | PDF p. 92 |
Notes
Segment performance is evaluated based on operating profit or loss which in certain respects is measured differently from operating profit or loss in the consolidated financial statements.
Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis.
Segment information 2024 - Discontinued and continuing operations by business segment 23 lines
| Item / unit | 2024Agriculture division (discontinued operations) | 2024Property development and real estate division (continuing operations) | 2024Others (continuing operations) | 2024Elimination | 2024Total | Source |
|---|---|---|---|---|---|---|
| Revenue | ||||||
| External sales$’000 | 70 | 102 | – | – | 172 | PDF p. 93 |
| Inter-segment sales$’000 | – | 50 | 3,100 | (3,150) | – | PDF p. 93 |
| Total revenue$’000 | 70 | 152 | 3,100 | (3,150) | 172 | PDF p. 93 |
| Results | ||||||
| Segment loss$’000 | (5,287) | (7,774) | (1,241) | 1,150 | (13,152) | PDF p. 93 |
| Depreciation of property, plant and equipment and right-of-use assets$’000 | (1,560) | (234) | (118) | – | (1,912) | PDF p. 93 |
| Amortisation of intangible assets$’000 | – | (100) | – | – | (100) | PDF p. 93 |
| Property, plant and equipment written off$’000 | (80) | – | – | – | (80) | PDF p. 93 |
| Finance costs$’000 | – | (586) | (82) | – | (668) | PDF p. 93 |
| Income tax expense$’000 | – | (582) | – | – | (582) | PDF p. 93 |
| Loss from disposal of subsidiaries$’000 | (2,997) | – | – | – | (2,997) | PDF p. 93 |
| (Loss)/gain on disposal of property, plant and equipment$’000 | – | (20) | 141 | – | 121 | PDF p. 93 |
| Gain on disposal of right-of-use assets$’000 | – | 253 | – | – | 253 | PDF p. 93 |
| (Loss)/gain on change in fair value of financial assets at fair value through profit or loss$’000 | – | (20) | 11 | – | (9) | PDF p. 93 |
| Net gain on repossession of development properties$’000 | – | 82 | – | – | 82 | PDF p. 93 |
| Write-down of development properties$’000 | – | (6,051) | – | – | (6,051) | PDF p. 93 |
| Interest income$’000 | – | 83 | 2 | – | 85 | PDF p. 93 |
| Share of loss of an associated company$’000 | – | (46) | – | – | (46) | PDF p. 93 |
| Share of profit of a joint venture$’000 | – | 3,691 | – | – | 3,691 | PDF p. 93 |
| Assets | ||||||
| Segment assets$’000 | – | 102,811 | 7,782 | – | 110,593 | PDF p. 93 |
| Segment assets include | ||||||
| Additions to non-current assets$’000 | – | 621 | 35 | – | 656 | PDF p. 93 |
| Investment in an associated company$’000 | – | 7,564 | – | – | 7,564 | PDF p. 93 |
| Investment in a joint venture$’000 | – | 26,824 | – | – | 26,824 | PDF p. 93 |
| Liabilities | ||||||
| Segment liabilities$’000 | – | (4,486) | (1,228) | – | (5,714) | PDF p. 93 |
Notes
Agriculture division discontinued in FY2024.
Segment performance is evaluated based on operating profit or loss which in certain respects is measured differently from operating profit or loss in the consolidated financial statements.
Major customers revenue 5 lines
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Major customers | |||
| Customer B$’000 | – | 201 | PDF p. 94 |
| Customer C$’000 | – | 148 | PDF p. 94 |
| Customer D$’000 | 1,200 | – | PDF p. 94 |
| Customer E$’000 | 413 | – | PDF p. 94 |
| Total (unlabelled)$’000 | 1,613 | 349 | PDF p. 94 |
Notes
Revenue is derived from 2 (2024: 2) external customers who individually contributed 10% or more of the Group’s revenue and are attributable to the marble mining (2024: property development and real estate) division.
By geography
Geographical information - Revenue and non-current assets 3 lines
| Item / unit | 2025Revenue | 2024Revenue | 2025Non-current assets | 2024Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$’000 | – | – | 1,631 | 1,278 | PDF p. 94 |
| Cambodia$’000 | 2,781 | 102 | 67,992 | 35,107 | PDF p. 94 |
| Total (unlabelled)$’000 | 2,781 | 102 | 69,623 | 36,385 | PDF p. 94 |
Notes
Revenue and non-current assets information based on the geographical location of customers and assets respectively.
Non-current assets information presented above are non-current assets as presented on the statements of financial position excluding loan to third party and financial assets at fair value through profit and loss.
2024 geographical revenue total of 102 differs from the 2024 segment total revenue of 172 (which includes discontinued agriculture) as printed.
Debt
Borrowings
Liquidity risk: maturity profile of financial liabilities (contractual undiscounted payments) - Group
| Item / unit | 2025Within one year | 2025Within two to five years | 2025More than five years | 2025Total | Source |
|---|---|---|---|---|---|
| Group 2025 | |||||
| Lease liabilities$'000 | 106 | 287 | – | 393 | PDF p. 89 |
| Other payables and accruals$'000 | 2,104 | – | – | 2,104 | PDF p. 89 |
Notes
Group 2025 total printed: 2,210 287 – 2,497.
Liquidity risk: maturity profile - Group 2024
| Item / unit | 2024Within one year | 2024Within two to five years | 2024More than five years | 2024Total | Source |
|---|---|---|---|---|---|
| Group 2024 | |||||
| Borrowings$'000 | 619 | – | – | 619 | PDF p. 89 |
| Lease liabilities$'000 | 36 | 86 | – | 122 | PDF p. 89 |
| Loan from controlling shareholder$'000 | 353 | – | – | 353 | PDF p. 89 |
Notes
Label wraps over two lines: 'Loan from controlling' / 'shareholder'; the quote is the second line with values.
Group 2024 total printed: 5,265 86 – 5,351.
Borrowing notes 3 tables
Borrowings (Current)
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current | |||||
| Bank Loan 1$'000 | – | 123 | – | 123 | PDF p. 81 |
| Bank Loan 2$'000 | – | 179 | – | 179 | PDF p. 81 |
| Bank Loan 3$'000 | – | 311 | – | 311 | PDF p. 81 |
Notes
All bank loans were denominated in SGD, bore interest at 3.00% per annum, and were fully repaid during the financial year.
Total current borrowings row printed as: – 613 – 613 (no label).
Reconciliation of movements of bank loans
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Bank loans reconciliation | |||
| Balance at 1 January$'000 | 613 | 8,012 | PDF p. 81 |
| Changes from financing cash flows | |||
| – Repayments$'000 | (613) | (7,586) | PDF p. 81 |
| – Interest paid$'000 | (40) | (658) | PDF p. 81 |
| Non-cash changes | |||
| – Interest expenses$'000 | 40 | 658 | PDF p. 81 |
| – Currency translation differences$'000 | – | 187 | PDF p. 81 |
| Bank loans reconciliation | |||
| Balance at 31 December$'000 | – | 613 | PDF p. 81 |
Notes
Reconciliation of movements of bank loans to cash flows arising from financing activities.
Reconciliation of loan from controlling shareholder
| Item / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Loan from controlling shareholder | |||
| Balance at 1 January$'000 | 353 | 558 | PDF p. 82 |
| Changes from financing cash flows | |||
| – New loan and payment on behalf$'000 | – | 340 | PDF p. 82 |
| – Repayments$'000 | (341) | (545) | PDF p. 82 |
| Non-cash changes | |||
| – Currency translation differences$'000 | (12) | – | PDF p. 82 |
| Loan from controlling shareholder | |||
| Balance at 31 December$'000 | – | 353 | PDF p. 82 |
Notes
Loan from controlling shareholder was non-trade in nature, interest-free, unsecured and was repayable on demand.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a formal dividend policy but the Board seeks to balance dividend return to shareholders with the need for long-term sustainable growth and the requirements for short term cash and capital expenditure requirements in proposing a dividend. | Company | PDF p. 28 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend for FY2025 | No dividend has been declared or recommended for the financial year ended 31 December 2025 as the Board of Directors deemed it necessary to preserve cash for working capital. | Company, FY2025 | PDF p. 28 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | Baker Tilly TFW LLP | Group | PDF p. 43 |
| Engagement partner | Lim Teck Wee | Group | PDF p. 43 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and Singapore Financial Reporting Standards (International) | Group and Company | PDF p. 40 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Valuation of investment properties | As at 31 December 2025, the Group’s investment properties comprise a residential property based in Cambodia and amounted to $33,287,000 (2024: $Nil). | Group | PDF p. 40 |
| Net realisable value of development properties | Development properties are stated at the lower of cost and net realisable values. | Group | PDF p. 41 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.