SA Salt Investments FQ7

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.

Five full years ended31March2022–2026. Main FY2024–FY2026 amounts are SGD thousands and EPS Singapore cents; main FY2022–FY2023 are USD thousands and EPS US cents. Functional currency changed prospectively1April2024; FY2025 report retrospectively translated FY2024 comparative and1April2023 opening financial position. Original FY2024 USD statements are separately retained; no exchange rate or FY2022–FY2023 SGD conversion is invented.

Group balance sheet, comprehensive income, changes in equity and cash flows cover all five years. Separate Company balance sheets cover five years and Company changes in equity FY2024–FY2026. Separate Company income/cash-flow statements and Company changes in equity FY2022–FY2023 are not disclosed; Group statements are not relabelled as Company.

Current RT LLP audit opinion is unmodified, signed Lim Chip Wan14September2026. KAMs concern business combinations, exclusive intellectual-property rights/prepayments and goodwill/investments in subsidiaries. Historical FY2022 Foo Kon Tan LLP opinion is a disclaimer, including going concern, ROU recoverability, convertible-note accounting and functional currency. FY2023 has an unmodified opinion with a separate material uncertainty related to going concern; the historical matters are not described as a current modified opinion.

FY2025 Note21 restatement reduces Group/Company total assets bySGD600thousand, liabilities by500thousand and equity by100thousand. IP reallocation recognises100thousand additional amortisation; Group prior net loss becomes6,286thousand versus original6,186thousand, owners6,130 versus6,030 and Company6,885 versus6,785. The paragraph saying no profit/equity/EPS effect belongs to classification paragraph(b), not the whole restatement. All six original FY2025 statements are retained separately.

FY2025 administrative expenses5,378 plus new amortisation100 reappear as administrative2,908, selling95 and goodwill impairment2,475, in SGDthousands. Prior EPS changes from−0.0581 to−0.0590Singapore cents. Prior cash-flow intangible purchases3,500 are split into IP2,000 and software-licence prepayment1,500; operating−3,432/investing−9,627/financing18,307 and closing cash5,592 are unchanged. These are original report comparisons, not an invented500thousand operating/investing transfer.

FY2022 USD figures are restated in FY2023 Note2(f): ROU impairment24thousand plus receivable reclassification11thousand reduce assets35thousand; convertibles move from886noncurrent to912current, payables fall37thousand and net liabilities fall11thousand. Group/Company closing deficits worsen24thousand to1,085/1,073; Group loss550 becomes574 and EPS−0.0126 becomes−0.0132US cents. All five original amended FY2022 statements are separately retained.

FY2022 cash-flow restatement adds5thousand FX noncash adjustment and changes receivable/payable working-capital movements, while operating−622, investing−5, financing722 and closing cash101USDthousand remain unchanged. FY2023 original cash-flow nonzero amounts equal the FY2024 comparative after row reordering; the original FY2023 cash-flow table is retained. Original amended FY2022 cash-flow caption says net decrease while the printed change is positive95; source caption is preserved.

FY2022 amended original is used. Superseded annual had cash change85 rather than corrected95USDthousand, plus financing footnote wrappers and policy/disclosure revisions. FY2022 material-revision table and superseded original remain archived. Separate FY2022 audit-variance announcement uses generic$thousand and inconsistent30-Jun-21/2021 headings; its amounts are not substituted into the USD annual statements or silently assigned an exchange rate.

Main FY2024 Company balance-sheet comparative deposit is printed blank and remains blank, not a fabricated zero. Three main USD cells use asterisk amounts belowUS1,000: FY2023 Company bank balances and FY2022 Group/Company investment in subsidiary. Original bounded amounts remain nonzero-possible markers, not exact zeros.

FY2026 audited primary balance sheet is the main source: Group assets20,028/equity15,165/liabilities4,863SGDthousand. Management review instead reports assets22,810/equity16,785/liabilities6,025, differences2,782/1,620/1,162. Review current assets12,297 and noncurrent10,513 differ from audited11,135/8,893. These unreconciled internal discrepancies are retained; no causal bridge is invented.

FY2026 official material-variance announcement also differs from the audited annual: its audited Group total assets21,190/current assets12,297 and liabilities6,025 differ from annual20,028/11,135/4,863 by1,162SGDthousand, though equity15,165 agrees. Its audited operating−4,928 and financing5,473 differ from annual−4,920/5,465 by8 each while overall cash change−804 agrees. Its impairment/ECL cash-flow adjustment10,117 differs from annual9,599+578=10,177; no complete cross-document reconciliation is asserted. Audited annual primary values are used.

FY2026 TT Oil acquisition:60% control obtained1June2025, cash considerationSGD3m plus857,142,857 issuer shares. Fair-value considerationSGD5,571,429 differs from contractual share valueSGD3m: fair-value shares2,571,429. Goodwill4,252thousand follows5,571−741+1,852−2,430. Acquisition net cash outflow1,296 followscash3,000 less prior deposit1,500 and acquired cash204; no acquisition consideration/cash/equity basis is conflated.

Vendor indemnification asset is2,430SGDthousand, limited to issuer60% of4,050thousand impaired receivables, with no established claim atyearend and unsecured measurement; claim/recovery extension to31May2028 is a subsequent event. Note6 also prints an undiscounted possible-outcome range nil to238thousand, which is not reconciled to2,430thousand recognised. Note2.6 says remaining40% is not indemnified yet later says NCI net assets include the asset; original wording is retained without assuming collection or resolving this inconsistency.

FY2026 Group lease liability is147SGDthousand in audited balance sheet and financing rollforward: opening62−cash127+newleases204+interest8=147. Lease Note11 vehicle60+office82 totals142,5 below printed147; original component amounts are not altered. Lease cash1,148 includes principal119+interest8+short-term lease expense1,021; expense is1,145 includingROUdepreciation116, not the same cash basis.

FY2026 Note7 Company prior current receivables subtotal76 is later printed72 in the combined row, while total3,076 and the audited balance sheet imply76. Main financial statements retain audited76; the note inconsistency is not silently corrected.

FY2026 share-capital count is whole shares:21,139,623,421+3,157,142,857=24,296,766,278. Monetary share capital isSGD836,864thousand. Current placements2.3b shares and TT Oil shares857,142,857 are distinct; share issue expenses58,490SGD are deducted from capital. Note9(a) contains both a statement that corresponding shares had not yet issued as of Directors Statement and a later sentence saying fully issued4October2025; this chronology inconsistency is retained. Current capital advance100thousand was released; issuance equity movement8,163thousand differs from current cash5,592thousand and includes consideration shares.

FY2026 annual AGM notice/biographies do not prove later appointments: annual roster is as authorised14September2026; Cheng Liang Chye declines re-election. AGM29September2026 re-elected Dennis Goh but rejected RT LLP auditor reappointment13.38%for/86.62%against. This subsequent resolution does not change the signed FY2026 unmodified audit opinion; no successor auditor or unverified future tenure is invented.

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