Annual Report 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Continuing operations | |||
| RevenueRp’million | 283,025 | – | PDF p. 69 |
| Cost of salesRp’million | (275,435) | – | PDF p. 69 |
| Gross profitRp’million | 7,590 | – | PDF p. 69 |
| Other item of income | |||
| Other incomeRp’million | 2,289 | – | PDF p. 69 |
| Other items of expense | |||
| General and administrative expensesRp’million | (9,836) | (13,779) | PDF p. 69 |
| Finance expensesRp’million | (136) | (83) | PDF p. 69 |
| Other expensesRp’million | (258) | (1,780) | PDF p. 69 |
| Continuing operations | |||
| Loss before income tax from continuing operationsRp’million | (351) | (15,642) | PDF p. 69 |
| Income taxRp’million | (1,178) | – | PDF p. 69 |
| Loss for the financial year from continuing operationsRp’million | (1,529) | (15,642) | PDF p. 69 |
| Discontinued operations | |||
| Profit/(Loss) from discontinued operations, net of income taxRp’million | 2,114,001 | (1,087,648) | PDF p. 69 |
| Total | |||
| Total profit/(loss) for the financial yearRp’million | 2,112,472 | (1,103,290) | PDF p. 69 |
| Other comprehensive income: Items that may not be reclassified subsequently to profit or loss | |||
| Net actuarial (loss)/gain on post-employment benefitsRp’million | (11,207) | 10,059 | PDF p. 69 |
| Other comprehensive income: Items that may be reclassified subsequently to profit or loss | |||
| Exchange differences on translation reclassified to profit or loss upon disposal subsidiariesRp’million | 7,939 | – | PDF p. 69 |
| Exchange differences on translationRp’million | (918) | (23,116) | PDF p. 69 |
| Other comprehensive income | |||
| Other comprehensive income for the financial year, net of taxRp’million | (4,186) | (13,057) | PDF p. 69 |
| Total | |||
| Total comprehensive income for the financial yearRp’million | 2,108,286 | (1,116,347) | PDF p. 69 |
| Total profit/(loss) for the financial year attributable to | |||
| Owners of the CompanyRp’million | 2,165,911 | (1,033,939) | PDF p. 69 |
| Non-controlling interestsRp’million | (53,439) | (69,351) | PDF p. 69 |
| Total comprehensive income for the financial year attributable to | |||
| Owners of the CompanyRp’million | 2,161,762 | (1,046,776) | PDF p. 69 |
| Non-controlling interestsRp’million | (53,476) | (69,571) | PDF p. 69 |
| Loss per share from continuing operations attributable to owners of the Company (in Rupiah) | |||
| Basic and dilutedRupiah per share | (0.18) | (1.82) | PDF p. 69 |
| Profit/(Loss) per share from discontinued operations attributable to owners of the Company (in Rupiah) | |||
| Basic and dilutedRupiah per share | 252.17 | (118.47) | PDF p. 69 |
Original report: PDF p. 69 ↗
For the financial year ended 31 December 2025. Amounts in Rp’million except per-share amounts in Rupiah. Continuing operations vs discontinued operations as printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipmentRp’million | – | 1 | PDF p. 70 |
| Other assetsRp’million | – | 119 | PDF p. 70 |
| SubtotalRp’million | – | 120 | PDF p. 70 |
| Current assets | |||
| Other receivablesRp’million | 327 | – | PDF p. 70 |
| Prepaid expensesRp’million | 16 | 9,552 | PDF p. 70 |
| Cash at banks and on handRp’million | 11,797 | 506 | PDF p. 70 |
| SubtotalRp’million | 12,140 | 10,058 | PDF p. 70 |
| Assets of a disposal group classified as held for saleRp’million | – | 4,862,112 | PDF p. 70 |
| SubtotalRp’million | 12,140 | 4,872,170 | PDF p. 70 |
| Current liabilities | |||
| Trade and other payablesRp’million | 973 | 121 | PDF p. 70 |
| Other liabilitiesRp’million | 2,384 | 6,403 | PDF p. 70 |
| Advances from customersRp’million | – | 30 | PDF p. 70 |
| Income tax payableRp’million | 1,221 | – | PDF p. 70 |
| SubtotalRp’million | 4,578 | 6,554 | PDF p. 70 |
| Liabilities of a disposal group classified as held for saleRp’million | – | 6,373,409 | PDF p. 70 |
| SubtotalRp’million | 4,578 | 6,379,963 | PDF p. 70 |
| Net current assets | |||
| Net current assets/(liabilities)Rp’million | 7,562 | (1,507,793) | PDF p. 70 |
| Net assets | |||
| Net assets/(liabilities)Rp’million | 7,562 | (1,507,673) | PDF p. 70 |
| Equity attributable to owners of the Company | |||
| Share capitalRp’million | 725,056 | 765,449 | PDF p. 70 |
| Accumulated lossesRp’million | (707,371) | (2,862,266) | PDF p. 70 |
| Other reservesRp’million | (10,123) | 289,023 | PDF p. 70 |
| SubtotalRp’million | 7,562 | (1,807,794) | PDF p. 70 |
| Equity | |||
| Non-controlling interestsRp’million | – | 300,121 | PDF p. 70 |
| Total equity/(deficit)Rp’million | 7,562 | (1,507,673) | PDF p. 70 |
Original report: PDF p. 70 ↗
As at 31 December 2025. Unlabelled subtotals have empty labels.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipmentRp’million | – | 1 | PDF p. 71 |
| Investments in subsidiariesRp’million | – | – | PDF p. 71 |
| Other non-current assetsRp’million | – | 119 | PDF p. 71 |
| SubtotalRp’million | – | 120 | PDF p. 71 |
| Current assets | |||
| Other receivablesRp’million | 327 | 119 | PDF p. 71 |
| Prepaid expensesRp’million | – | 9,544 | PDF p. 71 |
| Cash at banks and on handRp’million | 3,556 | 309 | PDF p. 71 |
| SubtotalRp’million | 3,883 | 9,972 | PDF p. 71 |
| Non-current asset classified as held for saleRp’million | – | 50,429 | PDF p. 71 |
| SubtotalRp’million | 3,883 | 60,401 | PDF p. 71 |
| Current liabilities | |||
| Trade and other payablesRp’million | 226 | 3,200 | PDF p. 71 |
| Other liabilitiesRp’million | 2,254 | 6,317 | PDF p. 71 |
| Advances from customersRp’million | – | 30 | PDF p. 71 |
| SubtotalRp’million | 2,480 | 9,547 | PDF p. 71 |
| Net current assets | |||
| Net current assetsRp’million | 1,403 | 50,854 | PDF p. 71 |
| Non-current liabilities | |||
| Other liabilitiesRp’million | – | 2,974 | PDF p. 71 |
| SubtotalRp’million | – | 2,974 | PDF p. 71 |
| Net assets | |||
| Net assetsRp’million | 1,403 | 48,000 | PDF p. 71 |
| Equity attributable to owners of the Company | |||
| Share capitalRp’million | 725,056 | 765,449 | PDF p. 71 |
| Accumulated lossesRp’million | (707,567) | (700,197) | PDF p. 71 |
| Other reservesRp’million | (16,086) | (17,252) | PDF p. 71 |
| Total equityRp’million | 1,403 | 48,000 | PDF p. 71 |
Original report: PDF p. 71 ↗
As at 31 December 2025. Unlabelled subtotals have empty labels.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, FY ended 31 December 2025, Rp'million | 2024Group, FY ended 31 December 2024, Rp'million | Source |
|---|---|---|---|
| Continuing operations | |||
| RevenueRp'million | 283,025 | – | PDF p. 69 |
| Cost of salesRp'million | (275,435) | – | PDF p. 69 |
| Gross profitRp'million | 7,590 | – | PDF p. 69 |
| Other item of income | |||
| Other incomeRp'million | 2,289 | – | PDF p. 69 |
| Other items of expense | |||
| General and administrative expensesRp'million | (9,836) | (13,779) | PDF p. 69 |
| Finance expensesRp'million | (136) | (83) | PDF p. 69 |
| Other expensesRp'million | (258) | (1,780) | PDF p. 69 |
| Continuing operations | |||
| Loss before income tax from continuing operationsRp'million | (351) | (15,642) | PDF p. 69 |
| Income taxRp'million | (1,178) | – | PDF p. 69 |
| Loss for the financial year from continuing operationsRp'million | (1,529) | (15,642) | PDF p. 69 |
| Discontinued operations | |||
| Profit/(Loss) from discontinued operations, net of income taxRp'million | 2,114,001 | (1,087,648) | PDF p. 69 |
| Profit for the year | |||
| Total profit/(loss) for the financial yearRp'million | 2,112,472 | (1,103,290) | PDF p. 69 |
| Other comprehensive income: Items that may not be reclassified subsequently to profit or loss | |||
| Net actuarial (loss)/gain on post-employment benefitsRp'million | (11,207) | 10,059 | PDF p. 69 |
| Other comprehensive income: Items that may be reclassified subsequently to profit or loss | |||
| Exchange differences on translation reclassified to profit or loss upon disposal subsidiariesRp'million | 7,939 | – | PDF p. 69 |
| Exchange differences on translationRp'million | (918) | (23,116) | PDF p. 69 |
| Other comprehensive income | |||
| Other comprehensive income for the financial year, net of taxRp'million | (4,186) | (13,057) | PDF p. 69 |
| Total comprehensive income | |||
| Total comprehensive income for the financial yearRp'million | 2,108,286 | (1,116,347) | PDF p. 69 |
| Total profit/(loss) for the financial year attributable to | |||
| Owners of the CompanyRp'million | 2,165,911 | (1,033,939) | PDF p. 69 |
| Non-controlling interestsRp'million | (53,439) | (69,351) | PDF p. 69 |
| Total comprehensive income for the financial year attributable to | |||
| Owners of the CompanyRp'million | 2,161,762 | (1,046,776) | PDF p. 69 |
| Non-controlling interestsRp'million | (53,476) | (69,571) | PDF p. 69 |
| Loss per share from continuing operations attributable to owners of the Company (in Rupiah) | |||
| Basic and dilutedRupiah | (0.18) | (1.82) | PDF p. 69 |
| Profit/(Loss) per share from discontinued operations attributable to owners of the Company (in Rupiah) | |||
| Basic and dilutedRupiah | 252.17 | (118.47) | PDF p. 69 |
Original report: PDF p. 69 ↗
Note column refs omitted from values. Loss per share in Rupiah. No separate Company comprehensive income statement is printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Share capital | 2025Accumulated losses | 2025Other reserves, total | 2025Restructuring reserve | 2025Premium paid on acquisition of non-controlling interests | 2025Foreign currency translation reserve | 2025Equity attributable to owners of the Company, total | 2025Non-controlling interests | 2025Total equity/(deficit) | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Group | ||||||||||
| At 1 January 2025Rp'million | 765,449 | (2,862,266) | 289,023 | 309,050 | (3,037) | (16,990) | (1,807,794) | 300,121 | (1,507,673) | PDF p. 72 |
| Total profit for the financial yearRp'million | – | 2,165,911 | – | – | – | – | 2,165,911 | (53,439) | 2,112,472 | PDF p. 72 |
| Other comprehensive income for the financial year, net of tax | ||||||||||
| Net actuarial loss on post-employment benefitsRp'million | – | (11,016) | – | – | – | – | (11,016) | (191) | (11,207) | PDF p. 72 |
| Exchange differences on translation reclassified to profit or loss upon disposal subsidiariesRp'million | – | – | 7,939 | – | – | 7,939 | 7,939 | – | 7,939 | PDF p. 72 |
| Exchange differences on translationRp'million | – | – | (1,072) | – | – | (1,072) | (1,072) | 154 | (918) | PDF p. 72 |
| Other comprehensive income for theRp'million | – | (11,016) | 6,867 | – | – | 6,867 | (4,149) | (37) | (4,186) | PDF p. 72 |
| Group | ||||||||||
| Total comprehensive income for theRp'million | – | 2,154,895 | 6,867 | – | – | 6,867 | 2,161,762 | (53,476) | 2,108,286 | PDF p. 72 |
| Contribution by and distribution to owners | ||||||||||
| Changes arising from disposal ofRp'million | – | – | (306,013) | (309,050) | 3,037 | – | (306,013) | (246,645) | (552,658) | PDF p. 72 |
| Cash distribution in relation to capitalRp'million | (40,393) | – | – | – | – | – | (40,393) | – | (40,393) | PDF p. 72 |
| (unlabelled subtotal: contribution by and distribution to owners)Rp'million | (40,393) | – | (306,013) | (309,050) | 3,037 | – | (346,406) | (246,645) | (593,051) | PDF p. 72 |
| Group | ||||||||||
| At 31 December 2025Rp'million | 725,056 | (707,371) | (10,123) | – | – | (10,123) | 7,562 | – | 7,562 | PDF p. 72 |
Original report: PDF p. 72 ↗
Values in column order as printed, Rp'million. Last row (unlabelled subtotal) is the sub-total of 'Contribution by and distribution to owners'. Closing balance for FY2024 equals 1 Jan 2025 opening. No separate Company statement of changes in equity is printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Share capital | 2024Accumulated losses | 2024Other reserves, total | 2024Restructuring reserve | 2024Premium paid on acquisition of non-controlling interests | 2024Foreign currency translation reserve | 2024Equity attributable to owners of the Company, total | 2024Non-controlling interests | 2024Total deficit | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| Group | ||||||||||
| At 1 January 2024Rp'million | 545,713 | (1,838,606) | 312,139 | 309,050 | (3,037) | 6,126 | (980,754) | 369,692 | (611,062) | PDF p. 73 |
| Total loss for the financial yearRp'million | – | (1,033,939) | – | – | – | – | (1,033,939) | (69,351) | (1,103,290) | PDF p. 73 |
| Other comprehensive income for the financial year, net of tax | ||||||||||
| Net actuarial loss on post-employment benefitsRp'million | – | 10,279 | – | – | – | – | 10,279 | (220) | 10,059 | PDF p. 73 |
| Exchange differences on translationRp'million | – | – | (23,116) | – | – | (23,116) | (23,116) | – | (23,116) | PDF p. 73 |
| Other comprehensive income for theRp'million | – | 10,279 | (23,116) | – | – | (23,116) | (12,837) | (220) | (13,057) | PDF p. 73 |
| Group | ||||||||||
| Total comprehensive income for theRp'million | – | (1,023,660) | (23,116) | – | – | (23,116) | (1,046,776) | (69,571) | (1,116,347) | PDF p. 73 |
| Contribution by and distribution to owners | ||||||||||
| Issuance of new shares (Note 21)Rp'million | 219,736 | – | – | – | – | – | 219,736 | – | 219,736 | PDF p. 73 |
| Group | ||||||||||
| At 31 December 2024Rp'million | 765,449 | (2,862,266) | 289,023 | 309,050 | (3,037) | (16,990) | (1,807,794) | 300,121 | (1,507,673) | PDF p. 73 |
Original report: PDF p. 73 ↗
Values in column order as printed, Rp'million.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Rp'million | 2024Group, Rp'million | Source |
|---|---|---|---|
| Cash from operating activities | |||
| Loss before income tax from continuing operationsRp'million | (351) | (15,642) | PDF p. 74 |
| Profit/(Loss) before income tax from discontinued operations, including gain on disposal of subsidiariesRp'million | 2,113,403 | (1,056,639) | PDF p. 74 |
| Profit/(Loss) before income tax, totalRp'million | 2,113,052 | (1,072,281) | PDF p. 74 |
| Adjustments for | |||
| Depreciation of property, plant and equipment (Note 12)Rp'million | 1 | 76,775 | PDF p. 74 |
| Depreciation of right-of-use assetsRp'million | – | 16,050 | PDF p. 74 |
| Amortisation of land use rightsRp'million | – | 5,317 | PDF p. 74 |
| Net gain on disposal of property, plant and equipmentRp'million | – | (53,818) | PDF p. 74 |
| Allowance for impairment loss of financial assets, netRp'million | – | 29,693 | PDF p. 74 |
| Net gain on change in fair value of biological assetsRp'million | – | (18,800) | PDF p. 74 |
| Inventories written down to net realisable valueRp'million | – | 27,359 | PDF p. 74 |
| Post-employment benefits expenseRp'million | 11,160 | 40,504 | PDF p. 74 |
| Interest incomeRp'million | (46) | (188) | PDF p. 74 |
| Interest expense on loans and borrowings (Note B)Rp'million | 69,522 | 207,455 | PDF p. 74 |
| Interest expense on lease liabilities (Note B)Rp'million | 626 | 3,377 | PDF p. 74 |
| Net foreign exchange differenceRp'million | 59,062 | 83,950 | PDF p. 74 |
| Gain on disposal of subsidiaries (Note 10)Rp'million | (2,407,946) | – | PDF p. 74 |
| Cash from operating activities | |||
| Operating cash flow before changes in working capitalRp'million | (154,569) | (654,607) | PDF p. 74 |
| Changes in working capital | |||
| InventoriesRp'million | (34,123) | (121,029) | PDF p. 74 |
| Trade and other receivablesRp'million | 30,293 | 23,734 | PDF p. 74 |
| Prepaid expensesRp'million | (26,081) | (29,547) | PDF p. 74 |
| Advances to suppliersRp'million | (11,839) | (24,069) | PDF p. 74 |
| Other assetsRp'million | 1,305 | 51,683 | PDF p. 74 |
| Trade and other payablesRp'million | (52,579) | (13,194) | PDF p. 74 |
| Other liabilitiesRp'million | (12,657) | 60,484 | PDF p. 74 |
| Advances from customersRp'million | (29,469) | 45,295 | PDF p. 74 |
| Cash from operating activities | |||
| Cash flows used in operationsRp'million | (289,719) | (661,250) | PDF p. 74 |
| Income tax refundedRp'million | 2,859 | 6,617 | PDF p. 74 |
| Post-employment benefits paidRp'million | (8,173) | (65,712) | PDF p. 74 |
| Net cash flows used in operating activitiesRp'million | (295,033) | (720,345) | PDF p. 74 |
| Cash flows from investing activities | |||
| Additions of property, plant and equipment (Note A)Rp'million | (77,932) | (557,440) | PDF p. 74 |
| Interest paid capitalised in property, plant and equipmentRp'million | – | (90,079) | PDF p. 74 |
| Additions of biological assetsRp'million | (10,120) | (3,727) | PDF p. 74 |
| Proceeds from disposal of property, plant and equipmentRp'million | – | 76,411 | PDF p. 74 |
| Interest receivedRp'million | 46 | 187 | PDF p. 74 |
| Disposal of subsidiaries, net of cash disposed of (Note 10)Rp'million | 4,946 | – | PDF p. 74 |
| Net cash flows used in investing activitiesRp'million | (83,060) | (574,648) | PDF p. 74 |
Original report: PDF p. 74 ↗
Continued on next page (financing and closing cash).
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Rp'million | 2024Group, Rp'million | Source |
|---|---|---|---|
| Cash flows from financing activities | |||
| Proceeds from loans and borrowings (Note B)Rp'million | 1,526,491 | 6,887,000 | PDF p. 75 |
| Repayments of loans and borrowings (Note B)Rp'million | (1,587,833) | (6,597,155) | PDF p. 75 |
| Payment of lease liabilities – principal portion (Note B)Rp'million | (1,616) | (18,371) | PDF p. 75 |
| Interest paid for loans and borrowings (Note B)Rp'million | (65,584) | (203,856) | PDF p. 75 |
| Interest paid for lease liabilities (Note B)Rp'million | (626) | (3,377) | PDF p. 75 |
| Proceeds from issuance of new sharesRp'million | – | 219,736 | PDF p. 75 |
| Loan from related parties and a third partyRp'million | 494,430 | 1,043,923 | PDF p. 75 |
| Cash distribution in relation to capital reduction (Note 21)Rp'million | (40,393) | – | PDF p. 75 |
| Net cash flows generated from financing activitiesRp'million | 324,869 | 1,327,900 | PDF p. 75 |
| Closing cash | |||
| Net change in cash and cash equivalentsRp'million | (53,224) | 32,907 | PDF p. 75 |
| Cash and cash equivalents at the beginning of the financial yearRp'million | 64,203 | 30,372 | PDF p. 75 |
| Effect of exchange rate changes on cash and cash equivalentsRp'million | 818 | 924 | PDF p. 75 |
| Cash and cash equivalents at the end of the financial yearRp'million | 11,797 | 64,203 | PDF p. 75 |
| Closing cash reconciliation | |||
| Cash at banks and on hand included in assets of a disposal group classified as held for sale (Note 10)Rp'million | – | 63,697 | PDF p. 75 |
| Cash at banks and on hand (Note 17)Rp'million | 11,797 | 506 | PDF p. 75 |
| Note A | |||
| Additions of property, plant and equipment (Note 12)Rp'million | – | 556,257 | PDF p. 75 |
| Additions of property, plant and equipment relating to discontinued operationsRp'million | 77,932 | – | PDF p. 75 |
| Net increase in advances for purchase of property, plant and equipmentRp'million | – | 1,183 | PDF p. 75 |
| Cash payment per the consolidated statement of cash flowsRp'million | 77,932 | 557,440 | PDF p. 75 |
Original report: PDF p. 75 ↗
Note A: For the purpose of the consolidated statement of cash flows, the movements in the additions of property, plant and equipment comprised the following (rows below). Note B (reconciliation of liabilities from financing activities, page 76) not tabulated. No separate Company cash flow statement is printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Loss per share from continuing operations attributable to owners of the Company (in Rupiah) | |||
| Basic and dilutedRupiah | (0.18) | (1.82) | PDF p. 69 |
| Profit/(Loss) per share from discontinued operations attributable to owners of the Company (in Rupiah) | |||
| Basic and dilutedRupiah | 252.17 | (118.47) | PDF p. 69 |
Original report: PDF p. 69 ↗
Rows labelled 'Basic and diluted' appear under two separate captions (continuing and discontinued operations).
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Note 11 | |||
| Net loss from continuing operations for the financial year attributable to owners of the CompanyRp’million | (1,529) | (15,642) | PDF p. 89 |
| Net profit/(loss) from discontinued operations for the financial year attributable to owners of theRp’million | 2,167,440 | (1,018,297) | PDF p. 89 |
| Weighted average number of ordinary shares used for basic and diluted loss per share computationNumber of ordinary shares | 8,595,134,887 | 8,595,134,887 | PDF p. 89 |
Original report: PDF p. 89 ↗
As the Group has no dilutive potential ordinary shares, the diluted earnings per share is equivalent to basic earnings per share for the financial year.
Where the money comes from
| Item / unit | 2025SGS division | 2024SGS division | 2025SGM division | 2024SGM division | 2025ST division | 2024ST division | 2025Adjustments and eliminations | 2024Adjustments and eliminations | 2025Continuing operations | 2024Continuing operations | 2025Discontinued operations | 2024Discontinued operations | 2025Per consolidated financial statements | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||
| External customersRp'million | 168,762 | 1,156,965 | 63,643 | – | 536,688 | 918,302 | – | – | 283,025 | – | 486,068 | 2,075,267 | 283,025 | – | PDF p. 105 |
| Inter-segmentRp'million | 241,641 | 755,421 | – | 118,459 | – | – | (241,641) | (873,880) | – | – | – | – | – | – | PDF p. 105 |
| Total revenueRp'million | 410,403 | 1,912,386 | 63,643 | 118,459 | 536,688 | 918,302 | (241,641) | (873,880) | 283,025 | – | 486,068 | 2,075,267 | 283,025 | – | PDF p. 105 |
A. The amounts relating to discontinued operation has been excluded to arrive at amounts shown in profit or loss as they are presented separately in the statement of comprehensive income with one line item, “Profit/(Loss) from discontinued operations, net of income tax”.
B. Inter-segment revenues are eliminated upon consolidation.
Capital expenditure rows (property, plant and equipment: 40,667 / 198,118 / 37,265 / 358,139 / – / – / – / – / – / – / 77,932 / 556,257 / – / –; right-of-use assets: – / 29 / – / 33,861 / – ... / – / 33,890 / – / –) have wrapped labels and are not extracted as rows.
| Item / unit | 2025SGS division | 2024SGS division | 2025SGM division | 2024SGM division | 2025ST division | 2024ST division | 2025Adjustments and eliminations | 2024Adjustments and eliminations | 2025Continuing operations | 2024Continuing operations | 2025Discontinued operations | 2024Discontinued operations | 2025Per consolidated financial statements | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Other information | |||||||||||||||
| Finance incomeRp'million | 45 | 134 | – | 50 | 1 | 4 | – | – | – | – | 46 | 188 | – | – | PDF p. 106 |
| Finance expenseRp'million | (44,342) | (220,322) | (30,359) | (19,026) | (4,428) | (22,205) | – | – | (136) | (83) | (78,993) | (261,470) | (136) | (83) | PDF p. 106 |
| Income tax expense/(credit)Rp'million | 278 | (22,189) | 130 | (3,406) | (988) | (5,414) | – | – | (1,178) | – | 598 | (31,009) | (1,178) | – | PDF p. 106 |
| Segment profit/(loss) after taxRp'million | (187,850) | (870,704) | (106,095) | (137,703) | 2,112,472 | (94,883) | – | – | 2,112,472 | (15,642) | (293,945) | (1,087,648) | 2,112,472 | (1,103,290) | PDF p. 106 |
Note A: The amounts relating to discontinued operation has been excluded to arrive at amounts shown in profit or loss as they are presented separately in the statement of comprehensive income with one line item, “Profit/(Loss) from discontinued operations, net of income tax”.
Other wrapped-label rows (depreciation, amortisation, post-employment benefits, inventories written down, impairment, disposal gain, FX differences, biological assets) are printed on the page but not extracted.
| Item / unit | 2025SGS division | 2024SGS division | 2025SGM division | 2024SGM division | 2025ST division | 2024ST division | 2025Adjustments and eliminations | 2024Adjustments and eliminations | 2025Continuing operations | 2024Continuing operations | 2025Discontinued operations | 2024Discontinued operations | 2025Per consolidated financial statements | 2024Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||||||
| Deferred tax assetsRp'million | – | 66,596 | – | 229 | – | 81 | – | – | – | – | – | 67,808 | – | – | PDF p. 107 |
| Segment assetsRp'million | – | 2,518,029 | – | 2,673,901 | 12,140 | 224,845 | – | (544,485) | 12,140 | 10,178 | – | 4,862,112 | 12,140 | 4,872,290 | PDF p. 107 |
| Liabilities | |||||||||||||||
| Loans and borrowingsRp'million | – | 1,906,450 | – | 1,484,914 | – | 95,806 | – | – | – | – | – | 3,487,170 | – | – | PDF p. 107 |
| Lease liabilitiesRp'million | – | 22,211 | – | – | – | 836 | – | – | – | – | – | 23,047 | – | – | PDF p. 107 |
| Income tax payableRp'million | – | 3,084 | – | 482 | 1,221 | 57 | – | – | 1,221 | – | – | 3,623 | 1,221 | – | PDF p. 107 |
| Deferred tax liabilitiesRp'million | – | 8,554 | – | 122,999 | – | 282 | – | (33,171) | – | – | – | 98,664 | – | – | PDF p. 107 |
| Segment liabilitiesRp'million | – | 4,158,116 | – | 2,048,638 | 3,357 | 732,467 | – | (559,258) | 3,357 | 6,554 | – | 6,373,409 | 3,357 | 6,379,963 | PDF p. 107 |
C. These represent inter-segment amounts eliminated upon consolidation.
A. The amounts relating to discontinued operation has been excluded to arrive at amounts shown in profit or loss as they are presented separately in the statement of comprehensive income with one line item, “Profit/(Loss) from discontinued operations, net of income tax”.
B. Inter-segment revenues are eliminated upon consolidation.
| Item / unit | 2025Group Revenue | 2024Group Revenue | 2025Group Non-current assets | 2024Group Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| North AmericaRp'million | 151,036 | – | – | – | PDF p. 108 |
| South East AsiaRp'million | 131,989 | – | – | 1 | PDF p. 108 |
Revenue and other non-current assets information based on the geographical location of the customers and assets respectively. Total row printed: 283,025 – – 1 (no label).
The Group did not have revenue from continuing operations for the financial year ended 31 December 2024 (Note 4). Non-current assets information presented above consists of property, plant and equipment as presented in the consolidated statement of financial position.
Debt
| Item / unit | 2025Beginning balance (included in liabilities of a disposal group held for sale) | 2025Interest expenses | 2025Cash flows: Proceeds | 2025Cash flows: Repayments | 2025Cash flows: Interest paid | 2025Non-cash changes: Foreign exchange movement | 2025Balance as at date of disposal | 2024Beginning balance | 2024Interest expenses | 2024Cash flows: Proceeds | 2024Cash flows: Repayments | 2024Cash flows: Interest paid | 2024Non-cash changes: Foreign exchange movement | 2024Non-cash items | 2024Additions of right-of-use assets | 2024Reclassification as disposal group held for sale | 2024Ending balance | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | ||||||||||||||||||
| Loans and borrowingsRp'million | 3,487,170 | 69,522 | 1,526,491 | (1,587,833) | (65,584) | 62,536 | 3,492,302 | 3,071,858 | 207,455 | 6,887,000 | (6,597,155) | (203,856) | 106,836 | 15,032 | – | (3,487,170) | – | PDF p. 76 |
| Lease liabilitiesRp'million | 23,047 | 626 | – | (1,616) | (626) | 293 | 21,724 | 21,761 | 3,377 | – | (18,371) | (3,377) | 57 | – | 19,600 | (23,047) | – | PDF p. 76 |
Note B: For the purpose of the consolidated statement of cash flows, a reconciliation of liabilities arising from financing activities is as follows:
(1) Included in liabilities of a disposal group classified as held for sale.
Page 5 states the Group had no borrowings as at 31 December 2025 following completion of the disposal.
(2) The proceeds of interest-bearing bank loans net of transaction costs of Rp12,829 million for financial year ended 31 December 2024.
(3) Mainly relates to amortisation of deferred transaction costs and interests.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company does not have a formal dividend policy. Any future dividends that the Directors may recommend or declare in respect of any particular financial year or period will depend on the Group’s earnings, financial position, results or operations, capital needs, plans for expansion, and other factors as the Board may deem appropriate. | Company | PDF p. 57 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividends for FY2025 | The Board has not declared or recommended dividends for FY2025, as the Directors are of the view that it would be better to use the cash for working capital to support the business operations of the Group at this juncture. | Group, FY2025 | PDF p. 58 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | BDO LLP | Group and Company, FY2025 | PDF p. 68 |
| Engagement partner | William Ng Wee Liang | Group and Company, FY2025 | PDF p. 68 |
| Auditor's report date | 10 April 2026 | Group and Company · As at 2026-04-10 | PDF p. 68 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern (Note 3) | there are no material uncertainties that may cast significant doubt on the Group’s ability to continue as a going concern | Group, FY2025 | PDF p. 82 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | This is a key audit matter due to the level of significant judgement made by management in determining the future plans, including the key assumptions used in the cash flow forecasts of the Group which will affect the level of available funds in order for the Group to continue as a going concern. | Group, FY2025 | PDF p. 65 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
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.