Boustead F9D

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Financials

Annual Report 2026

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21 tables

Consolidated Income Statement

16 metrics

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Consolidated Income Statement from Annual Report 2026
Metric / unit 2026Group2025Group Source
Consolidated Income Statement
Revenue$’000 624,438527,097 PDF p. 116
Cost of sales$’000 (408,852)(293,802) PDF p. 116
Gross proŕt$’000 215,586233,295 PDF p. 116
Interest income$’000 18,10520,140 PDF p. 116
Other gains - net$’000 123,80228,963 PDF p. 116
Reversal of/(Impairment loss) on ŕnancial assets and contract assets$’000 621(4,345) PDF p. 116
Expenses
- Selling and distribution$’000 (43,629)(41,570) PDF p. 116
Consolidated Income Statement
- Administrative$’000 (96,804)(91,633) PDF p. 116
- Finance$’000 (2,933)(2,330) PDF p. 116
Proŕt before income tax$’000 262,819123,324 PDF p. 116
Income tax expense$’000 (26,552)(23,248) PDF p. 116
Total proŕt$’000 236,267100,076 PDF p. 116
Proŕt attributable to:
Equity holders of the Company$’000 232,59395,047 PDF p. 116
Consolidated Income Statement
Non-controlling interests$’000 3,6745,029 PDF p. 116
Profit attributable subtotal
Subtotal$’000 236,267100,076 PDF p. 116
Equity holders of the Company (cents per share)
- Basic and dilutedcents per share 46.5919.57 PDF p. 116
Definitions & sources

Original report: PDF p. 116 ↗

Consolidated Statement of Comprehensive Income

11 metrics

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Consolidated Statement of Comprehensive Income from Annual Report 2026
Metric / unit 2026Group2025Group Source
Consolidated Statement of Comprehensive Income
Total proŕt$’000 236,267100,076 PDF p. 117
Items that may be reclassi ed subsequently to pro t or loss:
Share of other comprehensive income/(loss) of associates and joint ventures$’000 1,736(2,388) PDF p. 117
Currency translation differences arising from consolidation
- Losses$’000 (6,407)(975) PDF p. 117
Items that will not be reclassi ed subsequently to pro t or loss:
Remeasurement of retirement beneŕt obligation, net of tax$’000 647281 PDF p. 117
Financial assets, at fair value through other comprehensive income
- Fair value losses - equity investments 18(b),$’000 (1,305)(553) PDF p. 117
Non-controlling interests’ share of currency translation differences
arising from consolidation$’000 (493)(335) PDF p. 117
Consolidated Statement of Comprehensive Income
Other comprehensive loss, net of tax$’000 (5,822)(3,970) PDF p. 117
Total comprehensive income$’000 230,44596,106 PDF p. 117
Total comprehensive income attributable to:
Equity holders of the Company$’000 227,26391,429 PDF p. 117
Consolidated Statement of Comprehensive Income
Non-controlling interests$’000 3,1824,677 PDF p. 117
Total comprehensive income attributable subtotal
Subtotal$’000 230,44596,106 PDF p. 117
Definitions & sources

Original report: PDF p. 117 ↗

Statements of Financial Position – Group and Company

50 metrics

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Statements of Financial Position – Group and Company from Annual Report 2026
Metric / unit 2026Group2025Group2026Company2025Company Source
Current assets
Cash and bank balances$’000 348,044333,9325,70711,017 PDF p. 118
Statements of Financial Position – Group and Company
Trade receivables$’000 91,707100,158-- PDF p. 118
Other receivables and prepayments$’000 82,82575,95940,39617,098 PDF p. 118
Loans to subsidiaries$’000 --36,81331,236 PDF p. 118
Inventories$’000 2,3077,376-- PDF p. 118
Finance lease receivables$’000 808507-- PDF p. 118
Contract assets$’000 138,01548,006-- PDF p. 118
Investment securities$’000 19,57710,8094,8714,606 PDF p. 118
Derivative ŕnancial instruments$’000 314--- PDF p. 118
Current assets subtotal
Subtotal$’000 683,597576,74787,78763,957 PDF p. 118
Non-current assets
Trade receivables$’000 1,4841,705-- PDF p. 118
Statements of Financial Position – Group and Company
Other receivables and prepayments$’000 60468,100-- PDF p. 118
Contract assets$’000 2,3067,246-- PDF p. 118
Investment securities$’000 26,38729,598-- PDF p. 118
Property, plant and equipment$’000 27,06424,543622326 PDF p. 118
Right-of-use assets$’000 8,4788,767-- PDF p. 118
Finance lease receivables$’000 19,27019,488-- PDF p. 118
Investment properties$’000 2,10611,092-- PDF p. 118
Intangible assets$’000 2,3792,5853030 PDF p. 118
Investments in associates$’000 275,914116,684-- PDF p. 118
Investments in joint ventures$’000 175,719203,54739,340- PDF p. 118
Investments in subsidiaries$’000 --227,865241,843 PDF p. 118
Pension assets$’000 2,3311,157-- PDF p. 118
Deferred income tax assets$’000 13,34118,843-- PDF p. 118
Non-current assets subtotal
Subtotal$’000 557,383513,355267,857242,199 PDF p. 118
Statements of Financial Position – Group and Company
Total assets$’000 1,240,9801,090,102355,644306,156 PDF p. 118
Current liabilities
Trade and other payables$’000 248,639288,1715,0192,173 PDF p. 118
Statements of Financial Position – Group and Company
Lease liabilities$’000 4,6234,267-- PDF p. 118
Income tax liabilities$’000 14,29520,963248204 PDF p. 118
Loans from subsidiaries$’000 --157,689119,391 PDF p. 118
Contract liabilities$’000 68,48889,374-- PDF p. 118
Borrowings$’000 53,4417,876-- PDF p. 118
Derivative ŕnancial instruments$’000 3718237179 PDF p. 118
Current liabilities subtotal
Subtotal$’000 389,523410,833162,993121,947 PDF p. 118
Non-current liabilities
Trade and other payables$’000 4,48847,047-- PDF p. 118
Statements of Financial Position – Group and Company
Lease liabilities$’000 25,12628,119-- PDF p. 118
Contract liabilities$’000 3,3183,949-- PDF p. 118
Borrowings$’000 -54-- PDF p. 118
Pension liabilities$’000 652513-- PDF p. 118
Deferred income tax liabilities$’000 1,6343,800-- PDF p. 118
Non-current liabilities subtotal
Subtotal$’000 35,21883,482-- PDF p. 118
Statements of Financial Position – Group and Company
Total liabilities$’000 424,741494,315162,993121,947 PDF p. 118
NET ASSETS$’000 816,239595,787192,651184,209 PDF p. 118
of the Company
Share capital$’000 106,17587,176106,17587,176 PDF p. 118
Statements of Financial Position – Group and Company
Treasury shares$’000 (17,470)(17,470)(17,470)(17,470) PDF p. 118
Other reserves$’000 (34,337)(28,348)2,3942,398 PDF p. 118
Retained proŕts$’000 736,121540,030101,552112,105 PDF p. 118
Capital and reserves attributable to equity holders subtotal
Subtotal$’000 790,489581,388192,651184,209 PDF p. 118
Statements of Financial Position – Group and Company
Non-controlling interests$’000 25,75014,399-- PDF p. 118
Total equity$’000 816,239595,787192,651184,209 PDF p. 118
Definitions & sources

Original report: PDF p. 118 ↗

Consolidated Statement of Cash Flows—Operating Activities

27 metrics

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Consolidated Statement of Cash Flows—Operating Activities from Annual Report 2026
Metric / unit 2026Group2025Group Source
Cash Ŗows from operating activities
Proŕt before income tax$’000 262,819123,324 PDF p. 120
Adjustments for:
- Share of (proŕts)/losses of associates and joint ventures$’000 (48,071)19,196 PDF p. 120
- Elimination of share of unrealised construction, project management
and acquisition fee margins$’000 7221,560 PDF p. 120
Consolidated Statement of Cash Flows—Operating Activities
- Depreciation expenses$’000 9,0868,687 PDF p. 120
- Amortisation expenses$’000 161159 PDF p. 120
- Impairment of investment in an associate$’000 -3,066 PDF p. 120
- Gain on disposal of property and fund management service businesses$’000 (135)(28,998) PDF p. 120
- (Gain)/Loss on disposal of property, plant and equipment$’000 (48)110 PDF p. 120
- Loss/(Gain) on disposal of right-of-use assets$’000 87(57) PDF p. 120
- Fair value gains on ŕnancial assets, at FVPL$’000 (1,213)(1,834) PDF p. 120
- (Gains)/Losses on disposal/partial disposal of subsidiaries,
joint ventures and an associate$’000 (113,884)14 PDF p. 120
Consolidated Statement of Cash Flows—Operating Activities
- Gains on disposal of an investment property$’000 (12,160)- PDF p. 120
- Adjustment to gain on disposal of a joint venture in prior years$’000 96- PDF p. 120
- Finance expenses$’000 2,9332,330 PDF p. 120
- Dividend income$’000 (403)(374) PDF p. 120
- Interest income$’000 (18,105)(20,140) PDF p. 120
- Unrealised currency exchange losses$’000 139176 PDF p. 120
Operating activities adjustments subtotal
Subtotal$’000 82,024107,219 PDF p. 120
Changes in working capital:
- Trade receivables, other receivables and prepayments$’000 (4,800)35,821 PDF p. 120
Consolidated Statement of Cash Flows—Operating Activities
- Inventories and contracts assets/liabilities$’000 (99,163)(17,968) PDF p. 120
- Trade and other payables$’000 8,944(30,644) PDF p. 120
- Derivative ŕnancial instruments$’000 (400)393 PDF p. 120
- Restricted bank deposits$’000 32(1,442) PDF p. 120
Cash (used in)/provided by operations$’000 (13,363)93,379 PDF p. 120
Interest received$’000 7,27913,169 PDF p. 120
Income tax paid$’000 (29,548)(27,894) PDF p. 120
Net cash (used in)/provided by operating activities$’000 (35,632)78,654 PDF p. 120
Definitions & sources

Original report: PDF p. 120 ↗

Consolidated Statement of Cash Flows—Investing and Financing Activities

36 metrics

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Consolidated Statement of Cash Flows—Investing and Financing Activities from Annual Report 2026
Metric / unit 2026Group2025Group Source
Cash Ŗows from investing activities
Proceeds from disposal of investment securities, at FVPL$’000 7,9012,535 PDF p. 121
Consolidated Statement of Cash Flows—Investing and Financing Activities
Proceeds from disposal of property, plant and equipment$’000 229299 PDF p. 121
Proceeds from disposal of an investment property$’000 20,500- PDF p. 121
Proceeds from disposal of joint ventures and an associate$’000 39,395- PDF p. 121
Proceeds from disposal of a subsidiary in the previous ŕnancial year$’000 -1,436 PDF p. 121
Capital repayment by joint ventures$’000 73,914331 PDF p. 121
Repayment of loan by a joint venture$’000 9,1706,520 PDF p. 121
Repayment of loan by an associate$’000 5,8462,220 PDF p. 121
Repayment of notes issued by an associate$’000 85,250- PDF p. 121
Dividends received from associates and joint ventures$’000 56,83514,059 PDF p. 121
Dividends received from investment securities$’000 403- PDF p. 121
Interest received on notes issued by an associate$’000 5,9685,985 PDF p. 121
Interest received on loans to a joint venture$’000 778326 PDF p. 121
Interest received on loan to a non-related party$’000 -41 PDF p. 121
Proceeds from repayment of loan by a non-related party$’000 -1,850 PDF p. 121
Loans to joint ventures$’000 (16,439)(12,055) PDF p. 121
Purchase of investment securities, at FVPL$’000 (13,689)(5,670) PDF p. 121
Purchase of property, plant and equipment$’000 (7,062)(8,907) PDF p. 121
Additions to investment properties$’000 (39)(41) PDF p. 121
Capital contributions to joint ventures$’000 (6,409)(14,095) PDF p. 121
Investments in associates$’000 (229,422)(5,666) PDF p. 121
Investment in a joint venture$’000 (561)- PDF p. 121
Net cash provided by/(used in) investing activities$’000 32,568(10,832) PDF p. 121
Cash Ŗows from ŕnancing activities
Proceeds from borrowings$’000 79,13460,479 PDF p. 121
Consolidated Statement of Cash Flows—Investing and Financing Activities
Repayment of borrowings$’000 (35,307)(55,902) PDF p. 121
Interest payment of borrowings$’000 (1,599)(1,022) PDF p. 121
Principal payment of lease liabilities$’000 (4,998)(5,173) PDF p. 121
Interest payment of lease liabilities$’000 (1,250)(1,287) PDF p. 121
Payments to non-controlling shareholders for the purchase of shares
in a subsidiary$’000 (323)(77,893) PDF p. 121
Consolidated Statement of Cash Flows—Investing and Financing Activities
Dividends paid to non-controlling interests$’000 (2,032)(12,809) PDF p. 121
Dividends paid to equity holders of the Company$’000 (18,072)(13,741) PDF p. 121
Net cash provided by/(used in) ŕnancing activities$’000 15,553(107,348) PDF p. 121
Net increase/(decrease) in cash and cash equivalents$’000 12,489(39,526) PDF p. 121
Cash and cash equivalents
Beginning of ŕnancial year$’000 330,992370,447 PDF p. 121
Consolidated Statement of Cash Flows—Investing and Financing Activities
Effects of currency translation on cash and cash equivalents$’000 1,65571 PDF p. 121
End of ŕnancial year$’000 345,136330,992 PDF p. 121
Definitions & sources

Original report: PDF p. 121 ↗

Consolidated Statement of Changes in Equity—FY2026 block

10 metrics

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Consolidated Statement of Changes in Equity—FY2026 block from Annual Report 2026
Metric / unit 2026GroupShare capital2026GroupTreasury shares2026GroupOther reserves2026GroupRetained profits2026GroupAttributable equity total2026GroupNon-controlling interests2026GroupTotal equity Source
Consolidated Statement of Changes in Equity—FY2026 block
Beginning of ŕnancial year$’000 87,176(17,470)(28,348)540,030581,38814,399595,787 PDF p. 119
Proŕt for the ŕnancial year$’000 ---232,593232,5933,674236,267 PDF p. 119
Other comprehensive (loss)/income
for the ŕnancial year$’000 --(5,976)646(5,330)(492)(5,822) PDF p. 119
Total comprehensive (loss)/income
for the ŕnancial year$’000 --(5,976)233,239227,2633,182230,445 PDF p. 119
Consolidated Statement of Changes in Equity—FY2026 block
Dividends 32,35$’000 18,999-(3)(37,068)(18,072)(2,470)(20,542) PDF p. 119
Effect of acquisition of shares
from non-controlling interests$’000 --(2)(90)(92)(231)(323) PDF p. 119
Capital contribution from
non-controlling interest$’000 -----10,86810,868 PDF p. 119
Total transactions with owners,
recognised directly in equity$’000 18,999-(5)(37,158)(18,164)8,167(9,997) PDF p. 119
Total transactions with owners, recognised directly in equity
Transfer of a joint venture within the Group$’000 (8)10224 PDF p. 119
Consolidated Statement of Changes in Equity—FY2026 block
End of ŕnancial year$’000 106,175(17,470)(34,337)736,121790,48925,750816,239 PDF p. 119
Definitions & sources

Original report: PDF p. 119 ↗

Consolidated Statement of Changes in Equity—FY2025 block

9 metrics

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Consolidated Statement of Changes in Equity—FY2025 block from Annual Report 2026
Metric / unit 2025GroupShare capital2025GroupTreasury shares2025GroupOther reserves2025GroupRetained profits2025GroupAttributable equity total2025GroupNon-controlling interests2025GroupTotal equity Source
Consolidated Statement of Changes in Equity—FY2025 block
Beginning of ŕnancial year$’000 74,443(17,470)(24,235)472,498505,23623,838529,074 PDF p. 119
Proŕt for the ŕnancial year$’000 ---95,04795,0475,029100,076 PDF p. 119
Other comprehensive (loss)/income
for the ŕnancial year$’000 --(3,901)283(3,618)(352)(3,970) PDF p. 119
Total comprehensive (loss)/income
for the ŕnancial year$’000 --(3,901)95,33091,4294,67796,106 PDF p. 119
Consolidated Statement of Changes in Equity—FY2025 block
Dividends 32,35$’000 12,733-(1)(26,473)(13,741)(11,599)(25,340) PDF p. 119
Disposal of subsidiaries$’000 --(9)-(9)(56)(65) PDF p. 119
Effect of acquisition of shares
from non-controlling interests$’000 --(202)(1,325)(1,527)(2,461)(3,988) PDF p. 119
Total transactions with owners,
recognised directly in equity$’000 12,733-(212)(27,798)(15,277)(14,116)(29,393) PDF p. 119
Consolidated Statement of Changes in Equity—FY2025 block
End of ŕnancial year$’000 87,176(17,470)(28,348)540,030581,38814,399595,787 PDF p. 119
Definitions & sources

Original report: PDF p. 119 ↗

Five-year financial summary

34 metrics

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Five-year financial summary from Annual Report 2026
Metric / unit 2022Group summary2023Group summary2024Group summary2025Group summary2026Group summary Source
Five-year summary
Revenue$’000 631,811561,645767,573527,097624,438 PDF p. 19
Gross proŕt$’000 144,753157,043226,742233,295215,586 PDF p. 19
Operating proŕt$’000 45,81354,51781,72377,61962,766 PDF p. 19
Proŕt before income tax$’000 55,23576,481100,445123,324262,819 PDF p. 19
Total proŕt$’000 38,78756,20072,162100,076236,267 PDF p. 19
Proŕt attributable to equity holders of the Company$’000 30,57845,32564,18895,047232,593 PDF p. 19
Cash/Scrip dividends$’000 (19,282)(19,156)(26,261)(36,871)(50,472) PDF p. 19
Equity attributable to equity holders of the Company$’000 433,566453,041505,236581,388790,489 PDF p. 19
Non-controlling interests$’000 199,658117,75323,83814,39925,750 PDF p. 19
Capital Employed$’000 633,224570,794529,074595,787816,239 PDF p. 19
Trade receivables (non-current)$’000 12,32026,70825,4161,7051,484 PDF p. 19
Other receivables and prepayments (non-current)$’000 74,24085,96882,56568,100604 PDF p. 19
Contract assets (non-current)$’000 123853627,2462,306 PDF p. 19
Investment securities (non-current)$’000 33,21730,21329,17329,59826,387 PDF p. 19
Property, plant and equipment$’000 21,88319,15820,15024,54327,064 PDF p. 19
Right-of-use assets$’000 8,57712,32010,5418,7678,478 PDF p. 19
Finance lease receivables (non-current)$’000 20,36220,48519,99519,48819,270 PDF p. 19
Investment properties$’000 87,17248,66211,75411,0922,106 PDF p. 19
Intangible assets$’000 1535,3152,7012,5852,379 PDF p. 19
Investments in associates$’000 22,76621,40821,252116,684275,914 PDF p. 19
Investments in joint ventures$’000 54,866199,331212,776203,547175,719 PDF p. 19
Pension asset$’000 730--1,1572,331 PDF p. 19
Net deferred income tax assets$’000 13,92914,12414,11515,04311,707 PDF p. 19
Net cash position$’000 387,881320,532368,592326,002294,603 PDF p. 19
Net current assets/(liabilities) (excluding cash and borrowings)$’000 (759)(131,566)(176,818)(160,142)(529) PDF p. 19 Label p. 19
Non-current liabilities (excluding deferred income tax liabilities and borrowings)$’000 (104,125)(102,249)(113,500)(79,628)(33,584) PDF p. 19 Label p. 19
Assets Employed$’000 633,224570,794529,074595,787816,239 PDF p. 19
Operating proŕt over revenue% 7.39.710.614.710.1 PDF p. 19
Return on equity (Note 1)% 7.110.012.716.329.4 PDF p. 19
Gross dividend per sharecents per share 4.04.05.57.510.0 PDF p. 19
Dividend covertimes 1.62.42.42.64.7 PDF p. 19
Basic earnings per share (Note 2)cents per share 6.39.413.419.646.6 PDF p. 19
Net asset value per share (Note 3)cents per share 89.994.9105.8118.3156.6 PDF p. 19
Debt-to-equity (Note 4)% 2.51.00.61.36.5 PDF p. 19
Definitions & sources

Original report: PDF p. 19 ↗

Group revenue — five-year chart

1 metrics

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Group revenue — five-year chart from Annual Report 2026
Metric / unit 2022Group2023Group2024Group2025Group2026Group Source
Financial highlights charts
Group revenueS$’m 631.8561.6767.6527.1624.4 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Group operating profit — five-year chart

1 metrics

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Group operating profit — five-year chart from Annual Report 2026
Metric / unit 2022Group2023Group2024Group2025Group2026Group Source
Financial highlights charts
Group operating profitS$’m 45.854.581.777.662.8 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Group net profit — five-year chart

1 metrics

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Group net profit — five-year chart from Annual Report 2026
Metric / unit 2022Group2023Group2024Group2025Group2026Group Source
Financial highlights charts
Group net profitS$’m 30.645.364.295.0232.6 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Basic earnings per share — five-year chart

1 metrics

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Basic earnings per share — five-year chart from Annual Report 2026
Metric / unit 2022Group2023Group2024Group2025Group2026Group Source
Financial highlights charts
Basic earnings per sharecents 6.39.413.419.646.6 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Net asset value per share — five-year chart

1 metrics

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Net asset value per share — five-year chart from Annual Report 2026
Metric / unit 2022Group2023Group2024Group2025Group2026Group Source
Financial highlights charts
Net asset value per sharecents 89.994.9105.8118.3156.6 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Gross dividend per share — five-year chart

1 metrics

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Gross dividend per share — five-year chart from Annual Report 2026
Metric / unit 2022Group2023Group2024Group2025Group2026Group Source
Financial highlights charts
Gross dividend per sharecents 4.04.05.57.510.0 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Overall financial performance

4 metrics

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Overall financial performance from Annual Report 2026
Metric / unit 2026Group2025Group Source
Financial highlights
Group RevenueSGD millions 624.4527.1 PDF p. 18
Group Operating ProfitSGD millions 62.877.6 PDF p. 18
Group Profit before Income TaxSGD millions 262.8123.3 PDF p. 18
Group Engineering Contracts SecuredSGD millions 360377 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Overall financial performance — year-on-year

4 metrics

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Overall financial performance — year-on-year from Annual Report 2026
Metric / unit 2026Group; comparison with FY2025 Source
Financial highlights
Group Revenue year-on-year% 18 PDF p. 18
Group Operating Profit year-on-year% -19 PDF p. 18
Group Profit before Income Tax year-on-year% 113 PDF p. 18
Group Engineering Contracts Secured year-on-year% -5 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Division contribution percentages

13 metrics

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Division contribution percentages from Annual Report 2026
Metric / unit 2026Group; original chart basis Source
Financial highlights
Revenue — Geospatial Division% 34 PDF p. 18
Revenue — Real Estate Solutions Division% 36 PDF p. 18
Revenue — Energy Engineering Division% 27 PDF p. 18
Revenue — Healthcare Division% 2 PDF p. 18
Revenue — Group Headquarters% <1 PDF p. 18
Operating Profit — Geospatial Division% 58 PDF p. 18
Operating Profit — Real Estate Solutions Division% 13 PDF p. 18
Operating Profit — Energy Engineering Division% 29 PDF p. 18
Profit before Income Tax — Geospatial Division% 16 PDF p. 18
Profit before Income Tax — Real Estate Solutions Division% 76 PDF p. 18
Profit before Income Tax — Energy Engineering Division% 8 PDF p. 18
Engineering Contracts Secured — Real Estate Solutions Division% 71 PDF p. 18
Engineering Contracts Secured — Energy Engineering Division% 29 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

FY2026 dividend components

3 metrics

Units appear below each metric. Scroll to compare years

FY2026 dividend components from Annual Report 2026
Metric / unit 2026Company; FY2026 dividend Source
Financial highlights
Interim dividend (paid)SGD cents per share 1.5 PDF p. 18
Final dividend (proposed)SGD cents per share 4.0 PDF p. 18
Special dividend (proposed)SGD cents per share 4.5 PDF p. 18
Definitions & sources

Original report: PDF p. 18 ↗

* Group or Division operating profit is defined as profit before interest and income tax including share of results of associates and joint ventures but excluding currency exchange gains/losses, divestment gains/losses and dividend income. ** Pie charts for Group Operating Profit and Group Profit before Income Tax exclude loss-making divisions. *** From FY2025, divestment gains/losses were additionally excluded from Group operating profit. Therefore, y-o-y comparisons are not meaningful. **** Includes proposed final dividend of 4.0 cents per share and special dividend of 4.5 cents per share.

Reconciliation of financing liabilities — FY2026

2 metrics

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Reconciliation of financing liabilities — FY2026 from Annual Report 2026
Metric / unit 2026Group1 April2026GroupProceeds from borrowings2026GroupPrincipal and interest payments2026GroupAdditions2026GroupModification of lease liability2026GroupInterest expense2026GroupDisposal2026GroupForeign exchange movement2026Group31 March Source
Reconciliation of liabilities arising from financing activities
BorrowingsSGD thousands 7,93079,134(36,906)--1,704-1,57953,441 PDF p. 122
Lease liabilitiesSGD thousands 32,386-(6,248)4,5494051,250(2,601)829,749 PDF p. 122
Definitions & sources

Original report: PDF p. 122 ↗

Original financing-liability reconciliation from the consolidated statement of cash flows. Dashes retain their source meaning.

Reconciliation of financing liabilities — FY2025

2 metrics

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Reconciliation of financing liabilities — FY2025 from Annual Report 2026
Metric / unit 2025Group1 April2025GroupProceeds from borrowings2025GroupPrincipal and interest payments2025GroupAdditions2025GroupModification of lease liability2025GroupInterest expense2025GroupDisposal2025GroupForeign exchange movement2025Group31 March Source
Reconciliation of liabilities arising from financing activities
BorrowingsSGD thousands 3,35360,479(56,924)--1,022--7,930 PDF p. 122
Lease liabilitiesSGD thousands 35,220-(6,460)3,045-1,287(616)(90)32,386 PDF p. 122
Definitions & sources

Original report: PDF p. 122 ↗

Original financing-liability reconciliation from the consolidated statement of cash flows. Dashes retain their source meaning.

Significant non-cash transactions

1 metrics

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Significant non-cash transactions from Annual Report 2026
Metric / unit 2026Group Source
Significant non-cash transactions
Non-controlling interest capital contribution offset against other payablesSGD 10,868,000 PDF p. 122
Definitions & sources

Original report: PDF p. 122 ↗

Non-controlling interest capital contribution was offset against other payables due to non-controlling interest; original amount is in SGD, without conversion.

Where the money comes from

Segment information

By business

Note 39(a) Segment revenue and results 11 lines
Note 39(a) Segment revenue and results
Item / unit 2026Geospatial2025Geospatial2026Real Estate Solutions2025Real Estate Solutions2026Energy Engineering2025Energy Engineering2026Healthcare2025Healthcare2026HQ activities2025HQ activities2026Inter-segment elimination2025Inter-segment elimination2026Group2025Group Source
Revenue
External sales$'000 212,262221,351228,213134,347171,848158,88811,71212,137----624,035526,723 PDF p. 219
Dividend income$'000 --------53,146122,990(52,743)(122,616)403374 PDF p. 219
Total revenue$'000 212,262221,351228,213134,347171,848158,88811,71212,13753,146122,990(52,743)(122,616)624,438527,097 PDF p. 219
Results
Segment results$'000 42,06151,90920,15126,03721,27726,7621,647721(7,749)(8,219)-(22)77,38797,188 PDF p. 219
Results - Includes: Other gains
on disposals$'000 --126,08328,998---(14)----126,08328,984 PDF p. 219
Results - Includes
Currency exchange (losses)/gains - net$'000 (465)25448311(2,420)(3,177)35122(1,492)1,257--(3,894)(1,462) PDF p. 219
Results - Includes: Share of profits/(losses)
of associates and joint ventures$'000 --51,445(17,220)--(3,374)(1,976)----48,071(19,196) PDF p. 219
Results - Includes
Interest income$'000 3,8737,40714,87614,9972,5212,49819299852,430(4,169)(7,221)18,10520,140 PDF p. 219
Finance expense$'000 (376)(454)(2,244)(866)(507)(305)(284)(400)(3,691)(7,526)4,1697,221(2,933)(2,330) PDF p. 219
Segment results include: Depreciation
expense$'000 3,8643,9161,2511,4961,9631,6181,1841,002824655--9,0868,687 PDF p. 219
Segment results include
Amortisation of intangible assets$'000 --66155153------161159 PDF p. 219
Notes

Segment result represents profit earned by each segment without allocation of interest income, finance expense and income tax expense. Profit before income tax, income tax expense and total profit are printed only in Group columns.

Row labels wrapped over lines in source are given by their value-bearing line fragment; the Group-only rows (Profit before income tax, Income tax expense, Total profit) map to the Group 2026 and 2025 columns only. Printed 'Profit' uses ligature glyphs.

Note 39(b) Segment assets and liabilities 13 lines
Note 39(b) Segment assets and liabilities
Item / unit 2026Geospatial2025Geospatial2026Real Estate Solutions2025Real Estate Solutions2026Energy Engineering2025Energy Engineering2026Healthcare2025Healthcare2026HQ activities2025HQ activities2026Inter-segment elimination2025Inter-segment elimination2026Group2025Group Source
Segment assets
Segment assets$'000 247,713244,866453,275327,401209,574200,54110,9508,13888,02996,069(242,535)(206,058)767,006670,957 PDF p. 220
Segment assets - Investments
in associates$'000 --269,762106,678--6,15210,006----275,914116,684 PDF p. 220
in joint ventures$'000 --175,719203,547--------175,719203,547 PDF p. 220
Segment assets
Loan to associates$'000 --9,00013,035--------9,00013,035 PDF p. 220
Segment assets - Notes issued
by an associate$'000 ---67,036---------67,036 PDF p. 220
Additions to
- investment securities$'000 -12411,5015,546--2,000-188374--13,6896,044 PDF p. 220
- property, plant and equipment$'000 1,3119776479703,1855,6011,4682494511,110--7,0628,907 PDF p. 220
- right-of-use assets$'000 3,56736476-251,8401981,12968840--4,9543,045 PDF p. 220
- investment properties$'000 --3941--------3941 PDF p. 220
- investments in associates$'000 --204,553107,710--------204,553107,710 PDF p. 220
- investments in joint ventures$'000 --6,97014,095--------6,97014,095 PDF p. 220
Segment liabilities
Segment liabilities$'000 136,142143,933237,847225,048129,865127,62715,01713,598132,476124,399(242,535)(206,058)408,812428,547 PDF p. 220
Segment liabilities - Unrealised gain
on disposal due to retained interest$'000 ---41,005---------41,005 PDF p. 220
Notes

All assets are allocated to reportable segments other than deferred income tax assets.

All liabilities are allocated to reportable segments other than income tax payable and deferred income tax liabilities.

Deferred income tax assets/liabilities, income tax liabilities and consolidated totals are printed only in Group columns (2026, 2025). Wrapped labels are given by their value-bearing line fragment.

By geography

Note 39(c) Geographical information - revenue from external customers and non-current assets 8 lines
Note 39(c) Geographical information - revenue from external customers and non-current assets
Item / unit 2026Revenue from external customers2025Revenue from external customers2026Non-current assets2025Non-current assets Source
Geographical information
Singapore$'000 124,176167,507302,353181,012 PDF p. 221
Australia$'000 137,630153,24810,98616,560 PDF p. 221
Malaysia$'000 161,54526,7822,1941,648 PDF p. 221
USA$'000 83,03865,3951,7371,970 PDF p. 221
Europe$'000 2,6048,8775,1295,257 PDF p. 221
North and South America (excluding USA)$'000 8,92619,447-- PDF p. 221
Middle East and Africa$'000 71,49553,6624,9484,911 PDF p. 221
Group$'000 624,438527,097494,390375,331 PDF p. 221
Notes

Non-current assets exclude financial instruments and deferred income tax assets.

Other than Singapore, Australia, Malaysia, USA and Middle East and Africa (2025: Singapore, Australia, USA and Middle East and Africa), no single country accounted for 10% or more of the Group's revenue for the financial year ended.

Major customer (Note 39(d)): one (2025: one) external customer from the Real Estate Solutions segment accounted for more than 10% of Group revenue, contributing $121,733,000 (2025: $80,669,000).

Debt

Borrowings

Borrowing notes 2 tables

Borrowings - Group

Borrowings - Group — Group
Item / unit 2026$'0002025$'000 Source
Bank borrowings
- Current$'000 53,4417,876 PDF p. 191
- Non-current$'000 -54 PDF p. 191
Total$'000 53,4417,930 PDF p. 191
Notes

Security: As at 31 March 2026, total borrowings of $48,914,000 (2025: $107,000) are secured over bankers' guarantee.

Prior year non-current borrowings of $54,000 had fixed interest rate, discounted at 3.74%; fair value level 2.

Borrowings - contractual repricing dates

Borrowings - contractual repricing dates — Group
Item / unit 2026$'0002025$'000 Source
Repricing
6 months or less$'000 53,3871,428 PDF p. 191
Notes

Exposure of borrowings to interest rate changes and contractual repricing dates at reporting date.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividend Policy The Company does not have a ŕxed dividend policy. The form, frequency and amount of dividends will depend on, among others, the Company’s earnings, general ŕnancial condition, results of operations, capital requirements, cash Ŗow, general business condition, development plans and other factors as the directors may deem appropriate. However, subject to the above, it is the Company’s aim to declare and pay sustainable dividends, and the Company has been declaring dividends on a half-yearly basis. Company policy PDF p. 102

Dividends declared and proposed

ItemValuePeriod / scopeSource
1.5 cents (2025: 1.5 cents) interim tax-exempt (one-tier) cash dividend 1.5 cents per share FY2026 interim dividend, tax-exempt (one-tier), cash; paid 1 December 2025 PDF p. 200
final tax-exempt one-tier dividend 4.0 cents per share FY2026 final dividend, proposed, tax-exempt one-tier, subject to AGM approval PDF p. 102
special tax-exempt one-tier dividend 4.5 cents per share FY2026 special dividend, proposed, tax-exempt one-tier, subject to AGM approval PDF p. 102
Gross dividend per share 10.0¢ FY2026 total (interim 1.5 + proposed final 4.0 + proposed special 4.5); comparative FY2025 7.5¢ PDF p. 19
4.0 cents (2025: 4.0 cents) ŕnal tax-exempt (one-tier) cash and/or scrip dividend 4.0 cents per share FY2025 final dividend paid in FY2026 (previous financial year); comparative 2025: 4.0 cents PDF p. 200
2.0 cents (2025: Nil cents) special tax-exempt (one-tier) cash 2.0 cents per share Special dividend paid in FY2026 in respect of previous financial year (FY2025); comparative 2025: Nil PDF p. 200

Payout

ItemValuePeriod / scopeSource
Dividend cover 4.7x FY2026; comparative FY2025 2.6x PDF p. 19

Extracted from Annual Report 2026 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
Audit firm PricewaterhouseCoopers LLP Group and Company, FY ended 31 March 2026 PDF p. 115
Engagement partner Trillion So Group and Company, FY ended 31 March 2026 PDF p. 115

Extracted from Annual Report 2026 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 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Separate Company income, comprehensive-income, equity and cash-flow statements are not presented; the Company has separate financial-position columns.

Five-year figures and charts retain the report’s units and definitions; chart values are rounded. From FY2025, operating profit additionally excludes divestment gains/losses, so year-on-year comparisons are not meaningful.

Operating-profit and profit-before-income-tax pie charts exclude loss-making divisions.

Final and special FY2026 dividends are proposed in this report. Source blank cells and dashes are retained without inferring zero.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.