ANNUAL REPORT 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group balance sheet — FY2025 source | |||
| Equity attributable to owners of the Company Share capitalSingapore dollars thousands | 515,009 | 515,009 | PDF p. 38 Label p. 38 |
| ReservesSingapore dollars thousands | 720,611 | 747,787 | PDF p. 38 |
| Total equitySingapore dollars thousands | 1,235,620 | 1,262,796 | PDF p. 38 |
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 1,001,570 | 1,040,677 | PDF p. 38 |
| Investment propertiesSingapore dollars thousands | 106,591 | 126,961 | PDF p. 38 |
| GoodwillSingapore dollars thousands | 591 | 580 | PDF p. 38 |
| Investment in associatesSingapore dollars thousands | 5,485 | 5,208 | PDF p. 38 |
| Investment securitiesSingapore dollars thousands | 32,813 | 27,864 | PDF p. 38 |
| SubtotalSingapore dollars thousands | 1,147,050 | 1,201,290 | PDF p. 38 |
| Current assets | |||
| Prepaid operating expensesSingapore dollars thousands | 3,023 | 3,264 | PDF p. 38 |
| InventoriesSingapore dollars thousands | 949 | 905 | PDF p. 38 |
| Trade and other receivablesSingapore dollars thousands | 5,399 | 5,005 | PDF p. 38 |
| Cash and short-term depositsSingapore dollars thousands | 317,989 | 296,731 | PDF p. 38 |
| SubtotalSingapore dollars thousands | 327,360 | 305,905 | PDF p. 38 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars thousands | 15,029 | 14,819 | PDF p. 38 |
| Accrued operating expensesSingapore dollars thousands | 3,390 | 3,097 | PDF p. 38 |
| Lease liabilitiesSingapore dollars thousands | 246 | 85 | PDF p. 38 |
| BorrowingSingapore dollars thousands | 63,028 | 65,093 | PDF p. 38 |
| Deferred incomeSingapore dollars thousands | 486 | 486 | PDF p. 38 |
| Income tax payableSingapore dollars thousands | 1,994 | 2,434 | PDF p. 38 |
| SubtotalSingapore dollars thousands | 84,173 | 86,014 | PDF p. 38 |
| Net current assetsSingapore dollars thousands | 243,187 | 219,891 | PDF p. 38 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 151,023 | 149,917 | PDF p. 38 |
| Lease liabilitiesSingapore dollars thousands | 3,594 | 8,468 | PDF p. 38 |
| SubtotalSingapore dollars thousands | 154,617 | 158,385 | PDF p. 38 |
| Net assetsSingapore dollars thousands | 1,235,620 | 1,262,796 | PDF p. 38 |
Original report: PDF p. 38 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Company balance sheet — FY2025 source | |||
| Equity attributable to owners of the Company Share capitalSingapore dollars thousands | 515,009 | 515,009 | PDF p. 39 Label p. 39 |
| ReservesSingapore dollars thousands | 220,771 | 220,998 | PDF p. 39 |
| Total equitySingapore dollars thousands | 735,780 | 736,007 | PDF p. 39 |
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 240,639 | 245,667 | PDF p. 39 |
| Investment in subsidiariesSingapore dollars thousands | 362,155 | 362,155 | PDF p. 39 |
| Investment in associatesSingapore dollars thousands | 7,531 | 7,531 | PDF p. 39 |
| Investment securitiesSingapore dollars thousands | 32,813 | 27,864 | PDF p. 39 |
| SubtotalSingapore dollars thousands | 643,138 | 643,217 | PDF p. 39 |
| Current assets | |||
| Prepaid operating expensesSingapore dollars thousands | 225 | 196 | PDF p. 39 |
| InventoriesSingapore dollars thousands | 15 | 32 | PDF p. 39 |
| Trade and other receivablesSingapore dollars thousands | 1,553 | 1,515 | PDF p. 39 |
| Cash and short-term depositsSingapore dollars thousands | 112,098 | 108,998 | PDF p. 39 |
| SubtotalSingapore dollars thousands | 113,891 | 110,741 | PDF p. 39 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars thousands | 5,736 | 5,784 | PDF p. 39 |
| Accrued operating expensesSingapore dollars thousands | 1,475 | 1,446 | PDF p. 39 |
| Lease liabilitiesSingapore dollars thousands | 54 | 53 | PDF p. 39 |
| Income tax payableSingapore dollars thousands | 524 | 675 | PDF p. 39 |
| SubtotalSingapore dollars thousands | 7,789 | 7,958 | PDF p. 39 |
| Net current assetsSingapore dollars thousands | 106,102 | 102,783 | PDF p. 39 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 13,335 | 9,829 | PDF p. 39 |
| Lease liabilitiesSingapore dollars thousands | 125 | 164 | PDF p. 39 |
| SubtotalSingapore dollars thousands | 13,460 | 9,993 | PDF p. 39 |
| Net assetsSingapore dollars thousands | 735,780 | 736,007 | PDF p. 39 |
Original report: PDF p. 39 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Revenue | |||
| Hotel operationsSingapore dollars thousands | 134,198 | 129,096 | PDF p. 40 |
| Rental income from investment propertiesSingapore dollars thousands | 11,366 | 11,392 | PDF p. 40 |
| Total revenueSingapore dollars thousands | 145,564 | 140,488 | PDF p. 40 |
| Other incomeSingapore dollars thousands | 1,669 | 1,661 | PDF p. 40 |
| SubtotalSingapore dollars thousands | 147,233 | 142,149 | PDF p. 40 |
| Costs and expenses Staff costsSingapore dollars thousands | (51,883) | (49,774) | PDF p. 40 Label p. 40 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | (23,163) | (23,103) | PDF p. 40 |
| Operating costs and expensesSingapore dollars thousands | (57,122) | (56,507) | PDF p. 40 |
| Profit from operating activities before revaluation and fair value adjustmentSingapore dollars thousands | 15,065 | 12,765 | PDF p. 40 Label p. 40 |
| Fair value loss on investment propertiesSingapore dollars thousands | (12,395) | (7,343) | PDF p. 40 |
| Revaluation deficit on property, plant and equipmentSingapore dollars thousands | (36,265) | – | PDF p. 40 |
| (Loss)/profit from operating activitiesSingapore dollars thousands | (33,595) | 5,422 | PDF p. 40 |
| Finance costsSingapore dollars thousands | (3,313) | (2,362) | PDF p. 40 |
| Interest income from fixed depositsSingapore dollars thousands | 9,084 | 11,391 | PDF p. 40 |
| Foreign exchange gain/(loss)Singapore dollars thousands | 1,478 | (5,277) | PDF p. 40 |
| Share of results of associatesSingapore dollars thousands | (216) | (1,526) | PDF p. 40 |
| (Loss)/profit before taxSingapore dollars thousands | (26,562) | 7,648 | PDF p. 40 |
| Income tax expenseSingapore dollars thousands | (912) | (21,638) | PDF p. 40 |
| Loss net of tax and attributable to owners of the CompanySingapore dollars thousands | (27,474) | (13,990) | PDF p. 40 |
| (cents per share) | |||
| BasicSingapore cents per share | (3.72) | (1.89) | PDF p. 40 |
| DilutedSingapore cents per share | (3.72) | (1.89) | PDF p. 40 |
Original report: PDF p. 40 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Group comprehensive income — FY2025 source | |||
| Loss net of taxSingapore dollars thousands | (27,474) | (13,990) | PDF p. 41 |
| Items that will not be reclassified to profit or loss | |||
| Net surplus/(deficit) on revaluation of hotel assets, net of taxSingapore dollars thousands | 4,897 | (839) | PDF p. 41 |
| Net gain on fair value changes of equity instruments at fair value through other comprehensive income (“FVOCI”)Singapore dollars thousands | 5,309 | 5,865 | PDF p. 41 Label p. 41 |
| SubtotalSingapore dollars thousands | 10,206 | 5,026 | PDF p. 41 |
| Item that may be reclassified subsequently to profit or loss | |||
| Foreign currency translationSingapore dollars thousands | 1,183 | (38,158) | PDF p. 41 |
| SubtotalSingapore dollars thousands | 1,183 | (38,158) | PDF p. 41 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | 11,389 | (33,132) | PDF p. 41 |
| Total comprehensive income for the year and attributable to owners | |||
| Total comprehensive income for the year and attributable to owners of the CompanySingapore dollars thousands | (16,085) | (47,122) | PDF p. 41 Label p. 41 |
Original report: PDF p. 41 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025GroupShare capital | 2025GroupRetained earnings | 2025GroupAsset revaluation reserve | 2025GroupFair value adjustment reserve | 2025GroupForeign currency translation reserve | 2025GroupOther reserve | 2025GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group changes in equity — FY2025 source | ||||||||
| Balance at 1 January 2025Singapore dollars thousands | 515,009 | 259,146 | 686,577 | 11,817 | (211,185) | 1,432 | 1,262,796 | PDF p. 42 |
| Loss net of taxSingapore dollars thousands | – | (27,474) | – | – | – | – | (27,474) | PDF p. 42 |
| Other comprehensive income for the year | ||||||||
| Net surplus on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | 4,897 | – | – | – | 4,897 | PDF p. 42 Label p. 42 |
| Group changes in equity — FY2025 source | ||||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 5,309 | – | – | 5,309 | PDF p. 42 Label p. 42 |
| Foreign currency translationSingapore dollars thousands | – | – | – | – | 1,183 | – | 1,183 | PDF p. 42 |
| Total comprehensive income for the yearSingapore dollars thousands | – | (27,474) | 4,897 | 5,309 | 1,183 | – | (16,085) | PDF p. 42 |
| Distributions to owners | ||||||||
| Cash dividendsSingapore dollars thousands | – | (11,091) | – | – | – | – | (11,091) | PDF p. 42 |
| Group changes in equity — FY2025 source Distributions to owners | ||||||||
| Total distributions to ownersSingapore dollars thousands | – | (11,091) | – | – | – | – | (11,091) | PDF p. 42 |
| Other | ||||||||
| Transfer upon disposal of equity instruments at FVOCISingapore dollars thousands | – | (19) | – | 19 | – | – | – | PDF p. 42 Label p. 42 |
| Group changes in equity — FY2025 source Distributions to owners | ||||||||
| Total othersSingapore dollars thousands | – | (19) | – | 19 | – | – | – | PDF p. 42 |
| Balance at 31 December 2025Singapore dollars thousands | 515,009 | 220,562 | 691,474 | 17,145 | (210,002) | 1,432 | 1,235,620 | PDF p. 42 |
Original report: PDF p. 42 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024GroupShare capital | 2024GroupRetained earnings | 2024GroupAsset revaluation reserve | 2024GroupFair value adjustment reserve | 2024GroupForeign currency translation reserve | 2024GroupOther reserve | 2024GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| Balance at 1 January 2024Singapore dollars thousands | 515,009 | 287,925 | 687,416 | 5,952 | (173,027) | 1,432 | 1,324,707 | PDF p. 42 |
| Loss net of taxSingapore dollars thousands | – | (13,990) | – | – | – | – | (13,990) | PDF p. 42 |
| Other comprehensive income for the year | ||||||||
| Net deficit on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | (839) | – | – | – | (839) | PDF p. 42 Label p. 42 |
| Group | ||||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 5,865 | – | – | 5,865 | PDF p. 42 Label p. 42 |
| Foreign currency translationSingapore dollars thousands | – | – | – | – | (38,158) | – | (38,158) | PDF p. 42 |
| Total comprehensive income for the yearSingapore dollars thousands | – | (13,990) | (839) | 5,865 | (38,158) | – | (47,122) | PDF p. 42 |
| Distributions to owners | ||||||||
| Cash dividendsSingapore dollars thousands | – | (14,789) | – | – | – | – | (14,789) | PDF p. 42 |
| Group Distributions to owners | ||||||||
| Balance at 31 December 2024Singapore dollars thousands | 515,009 | 259,146 | 686,577 | 11,817 | (211,185) | 1,432 | 1,262,796 | PDF p. 42 |
Original report: PDF p. 42 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025CompanyShare capital | 2025CompanyRetained earnings | 2025CompanyAsset revaluation reserve | 2025CompanyFair value adjustment reserve | 2025CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company changes in equity — FY2025 source | ||||||
| Balance at 1 January 2025Singapore dollars thousands | 515,009 | 17,369 | 191,812 | 11,817 | 736,007 | PDF p. 43 |
| Profit net of taxSingapore dollars thousands | – | 12,523 | – | – | 12,523 | PDF p. 43 |
| Other comprehensive income for the year | ||||||
| Net deficit on revaluation of hotel asset, net of taxSingapore dollars thousands | – | – | (6,968) | – | (6,968) | PDF p. 43 Label p. 43 |
| Company changes in equity — FY2025 source | ||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 5,309 | 5,309 | PDF p. 43 Label p. 43 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 12,523 | (6,968) | 5,309 | 10,864 | PDF p. 43 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (11,091) | – | – | (11,091) | PDF p. 43 |
| Company changes in equity — FY2025 source Distributions to owners | ||||||
| Total distributions to ownersSingapore dollars thousands | – | (11,091) | – | – | (11,091) | PDF p. 43 |
| Others | ||||||
| Transfer upon disposal of equity instruments at FVOCISingapore dollars thousands | – | (19) | – | 19 | – | PDF p. 43 Label p. 43 |
| Total othersSingapore dollars thousands | – | (19) | – | 19 | – | PDF p. 43 |
| Balance at 31 December 2025Singapore dollars thousands | 515,009 | 18,782 | 184,844 | 17,145 | 735,780 | PDF p. 43 |
Original report: PDF p. 43 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024CompanyShare capital | 2024CompanyRetained earnings | 2024CompanyAsset revaluation reserve | 2024CompanyFair value adjustment reserve | 2024CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company | ||||||
| Balance at 1 January 2024Singapore dollars thousands | 515,009 | 17,782 | 199,989 | 5,952 | 738,732 | PDF p. 43 |
| Profit net of taxSingapore dollars thousands | – | 14,376 | – | – | 14,376 | PDF p. 43 |
| Other comprehensive income for the year | ||||||
| Net deficit on revaluation of hotel asset, net of taxSingapore dollars thousands | – | – | (8,177) | – | (8,177) | PDF p. 43 Label p. 43 |
| Company | ||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 5,865 | 5,865 | PDF p. 43 Label p. 43 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 14,376 | (8,177) | 5,865 | 12,064 | PDF p. 43 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (14,789) | – | – | (14,789) | PDF p. 43 |
| Company Distributions to owners | ||||||
| Balance at 31 December 2024Singapore dollars thousands | 515,009 | 17,369 | 191,812 | 11,817 | 736,007 | PDF p. 43 |
Original report: PDF p. 43 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| (Loss)/profit before taxSingapore dollars thousands | (26,562) | 7,648 | PDF p. 44 |
| Adjustments for: | |||
| Depreciation of property, plant and equipment (Note 6)Singapore dollars thousands | 23,163 | 23,103 | PDF p. 44 |
| Revaluation deficit on property, plant and equipment (Note 6)Singapore dollars thousands | 36,265 | – | PDF p. 44 |
| Fair value loss on investment properties (Note 7)Singapore dollars thousands | 12,395 | 7,343 | PDF p. 44 |
| Dividend income from investment securities (Note 11)Singapore dollars thousands | (1,614) | (1,431) | PDF p. 44 |
| Loss/(gain) on disposal of property, plant and equipmentSingapore dollars thousands | 2 | (35) | PDF p. 44 |
| Finance costs (Note 22)Singapore dollars thousands | 3,313 | 2,362 | PDF p. 44 |
| Interest income from fixed depositsSingapore dollars thousands | (9,084) | (11,391) | PDF p. 44 |
| Foreign exchange (gain)/lossSingapore dollars thousands | (1,478) | 5,277 | PDF p. 44 |
| Share of results of associatesSingapore dollars thousands | 216 | 1,526 | PDF p. 44 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 36,616 | 34,402 | PDF p. 44 |
| Increase in inventoriesSingapore dollars thousands | (40) | (87) | PDF p. 44 |
| (Increase)/decrease in trade and other receivablesSingapore dollars thousands | (311) | 2,350 | PDF p. 44 |
| Decrease/(increase) in prepaid operating expensesSingapore dollars thousands | 202 | (291) | PDF p. 44 |
| Increase in trade and other payablesSingapore dollars thousands | 167 | 2,888 | PDF p. 44 |
| Increase/(decrease) in accrued operating expensesSingapore dollars thousands | 310 | (2,211) | PDF p. 44 |
| Cash flows from operationsSingapore dollars thousands | 36,944 | 37,051 | PDF p. 44 |
| Interest receivedSingapore dollars thousands | 9,084 | 11,391 | PDF p. 44 |
| Interest paidSingapore dollars thousands | (2,995) | (2,031) | PDF p. 44 |
| Income taxes paidSingapore dollars thousands | (7,986) | (8,062) | PDF p. 44 |
| Net cash flows generated from operating activitiesSingapore dollars thousands | 35,047 | 38,349 | PDF p. 44 |
| Investing activities | |||
| Dividend income from investment securities (Note 11)Singapore dollars thousands | 1,614 | 1,431 | PDF p. 44 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | – | 113 | PDF p. 44 |
| Proceeds from disposal of investment securitiesSingapore dollars thousands | 379 | – | PDF p. 44 |
| Purchase of property, plant and equipment (Note 6)Singapore dollars thousands | (8,236) | (27,254) | PDF p. 44 |
| Additions to investment properties (Note 7)Singapore dollars thousands | (169) | (309) | PDF p. 44 |
| Net cash flows used in investing activitiesSingapore dollars thousands | (6,412) | (26,019) | PDF p. 44 |
Original report: PDF p. 44 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Financing activities | |||
| Cash dividends paid on ordinary shares (Note 25)Singapore dollars thousands | (11,091) | (14,789) | PDF p. 45 |
| Repayment of principal portion of lease liabilities (Note 17(b))Singapore dollars thousands | (36) | (43) | PDF p. 45 |
| Interest paid on lease liabilities (Note 17(b))Singapore dollars thousands | (305) | (321) | PDF p. 45 |
| Repayment of principal portion of hire purchase (Note 17(b))Singapore dollars thousands | (46) | (44) | PDF p. 45 |
| Interest paid on hire purchase (Note 17(b))Singapore dollars thousands | (5) | (8) | PDF p. 45 |
| Proceeds from term loan (Note 17(b))Singapore dollars thousands | – | 11,487 | PDF p. 45 |
| Placement of restricted cash – fixed deposits pledged for bank guarantee and revolving credit facilitySingapore dollars thousands | 2,270 | (7,203) | PDF p. 45 Label p. 45 |
| Net cash flows used in financing activitiesSingapore dollars thousands | (9,213) | (10,921) | PDF p. 45 |
| Net increase in cash and cash equivalentsSingapore dollars thousands | 19,422 | 1,409 | PDF p. 45 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars thousands | 4,106 | (14,102) | PDF p. 45 |
| Cash and cash equivalents at 1 JanuarySingapore dollars thousands | 225,068 | 237,761 | PDF p. 45 |
| Cash and cash equivalents at 31 DecemberSingapore dollars thousands | 248,596 | 225,068 | PDF p. 45 |
| Cash and cash equivalents at end of year comprise (Note 14): Cash at bank and on handSingapore dollars thousands | 47,305 | 41,496 | PDF p. 45 Label p. 45 |
| Short-term depositsSingapore dollars thousands | 270,684 | 255,235 | PDF p. 45 |
| Cash and cash equivalents per balance sheetsSingapore dollars thousands | 317,989 | 296,731 | PDF p. 45 |
| Less: Fixed deposits pledgedSingapore dollars thousands | (69,393) | (71,663) | PDF p. 45 |
| Cash and cash equivalents at 31 DecemberSingapore dollars thousands | 248,596 | 225,068 | PDF p. 45 |
Original report: PDF p. 45 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| Financial summary | ||||||
| TurnoverSingapore dollars millions | 123.1 | 143.5 | 149.1 | 140.5 | 145.6 | PDF p. 30 |
| (Loss)/Profit Before TaxSingapore dollars millions | 19.8 | 13.0 | 24.3 | 7.6 | (26.6) | PDF p. 30 |
| (Loss)/Profit After TaxSingapore dollars millions | 14.0 | 0.8 | 11.9 | (14.0) | (27.5) | PDF p. 30 |
| Balance Sheet ($ Million) | ||||||
| Total AssetsSingapore dollars millions | 1,497.6 | 1,551.2 | 1,555.2 | 1,507.2 | 1,474.4 | PDF p. 30 |
| Paid Up CapitalSingapore dollars millions | 515.0 | 515.0 | 515.0 | 515.0 | 515.0 | PDF p. 30 |
| Share Capital & ReserveSingapore dollars millions | 1,320.8 | 1,350.0 | 1,324.7 | 1,262.8 | 1,235.6 | PDF p. 30 |
| Selected Ratios | ||||||
| Net Earnings Per Share (Cents)Singapore cents per share | 1.91 | 0.11 | 1.61 | (1.89) | (3.72) | PDF p. 30 |
| Ordinary Dividends Per Share (Cents)Singapore cents per share | 1.00 | 2.00 | 2.00 | 1.50 | 1.50 | PDF p. 30 |
| Net Assets Per Share ($)Singapore dollars per share | 1.79 | 1.83 | 1.79 | 1.71 | 1.67 | PDF p. 30 |
Original report: PDF p. 30 ↗
Five-year summary monetary amounts are SGD millions; EPS and DPS cents, net assets per share SGD dollars. Current-year DPS includes a proposed dividend subject to shareholder approval.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| EPS denominator and owners profit | |||
| Weighted average number of ordinary shares for basic and diluted earnings per share computationthousands of ordinary shares | 739,426 | 739,426 | PDF p. 81 Label p. 81 |
Original report: PDF p. 81 ↗
EPS uses weighted shares in thousands; financial loss input SGD thousands, resulting EPS Singapore cents. Closing share denominator and summary net-assets-per-share basis are distinct.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company | 2024Group and Company | Source |
|---|---|---|---|
| Dividends declared and cash paid — Group and Company | |||
| Declared and paid during the financial year Dividends on ordinary shares: Final exempt (one-tier) dividend for 2025: Ordinary: 1.5 cents (2024: Ordinary: 2.0 cents) per shareSingapore dollars thousands | 11,091 | 14,789 | PDF p. 82 Label p. 82 |
Original report: PDF p. 82 ↗
Amounts SGD thousands under original money headers; embedded rates are cents per share. Paid22May2025 cash11,091 thousand is distinct from proposed11,091 thousand not recognised as a liability and subject to AGM. Source describes paid dividend as for2025; this wording is retained without inferring a different fiscal attribution.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group and Company | 2024Group and Company | Source |
|---|---|---|---|
| Proposed dividend subject to AGM — Group and Company | |||
| Dividends on ordinary shares, subject to shareholders’ approval at the AGM: Final exempt (one-tier) dividend for 2025 - Ordinary: 1.5 cents (2024: 1.5 cents) per shareSingapore dollars thousands | 11,091 | 11,091 | PDF p. 82 Label p. 82 |
Original report: PDF p. 82 ↗
Amounts SGD thousands under original money headers; embedded rates are cents per share. Paid22May2025 cash11,091 thousand is distinct from proposed11,091 thousand not recognised as a liability and subject to AGM. Source describes paid dividend as for2025; this wording is retained without inferring a different fiscal attribution.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023CompanyShare capital | 2023CompanyRetained earnings | 2023CompanyAsset revaluation reserve | 2023CompanyFair value adjustment reserve | 2023CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company | ||||||
| Balance at 1 January 2023Singapore dollars thousands | 515,009 | 8,077 | 199,751 | 4,693 | 727,530 | PDF p. 42 |
| Profit net of taxSingapore dollars thousands | – | 24,494 | – | – | 24,494 | PDF p. 42 |
| Other comprehensive income for the year | ||||||
| Net gain on revaluation of hotel asset, net of taxSingapore dollars thousands | – | – | 238 | – | 238 | PDF p. 42 Label p. 42 |
| Company | ||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 1,259 | 1,259 | PDF p. 42 Label p. 42 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 24,494 | 238 | 1,259 | 25,991 | PDF p. 42 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (14,789) | – | – | (14,789) | PDF p. 42 |
| Company Distributions to owners | ||||||
| Balance at 31 December 2023Singapore dollars thousands | 515,009 | 17,782 | 199,989 | 5,952 | 738,732 | PDF p. 42 |
Original report: PDF p. 42 ↗
FY2024 comparative prints retained-earnings comprehensive income24,494, correcting24,484 printed inFY2023 original; profit, total equity and closing balances agree. OriginalFY2023 is retained separately with warning.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group / FY2024 comparative | Source |
|---|---|---|
| Operating activities | ||
| Profit before taxSingapore dollars thousands | 24,316 | PDF p. 43 |
| Adjustments for: | ||
| Depreciation of property, plant and equipment (Note 6)Singapore dollars thousands | 21,570 | PDF p. 43 |
| Fair value loss on investment properties (Note 7)Singapore dollars thousands | 9,766 | PDF p. 43 |
| Dividend income from investment securities (Note 11)Singapore dollars thousands | (1,371) | PDF p. 43 |
| Reversal of impairment loss on investment in an associateSingapore dollars thousands | (1,818) | PDF p. 43 |
| Gain on disposal of property, plant and equipmentSingapore dollars thousands | (1) | PDF p. 43 |
| Finance costs (Note 22)Singapore dollars thousands | 360 | PDF p. 43 |
| Interest income from fixed depositsSingapore dollars thousands | (9,906) | PDF p. 43 |
| Foreign exchange lossSingapore dollars thousands | 1,335 | PDF p. 43 |
| Share of results of associatesSingapore dollars thousands | 392 | PDF p. 43 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 44,643 | PDF p. 43 |
| (Increase)/decrease in inventoriesSingapore dollars thousands | 17 | PDF p. 43 |
| Decrease/(increase) in trade and other receivablesSingapore dollars thousands | (1,658) | PDF p. 43 |
| Increase in prepaid operating expensesSingapore dollars thousands | (1,231) | PDF p. 43 |
| Increase/(decrease) in trade and other payablesSingapore dollars thousands | (3,572) | PDF p. 43 |
| (Decrease)/increase in accrued operating expensesSingapore dollars thousands | 2,719 | PDF p. 43 |
| Cash flows from operationsSingapore dollars thousands | 40,918 | PDF p. 43 |
| Interest receivedSingapore dollars thousands | 9,906 | PDF p. 43 |
| Interest paidSingapore dollars thousands | (31) | PDF p. 43 |
| Income taxes paidSingapore dollars thousands | (10,841) | PDF p. 43 |
| Net cash flows generated from operating activitiesSingapore dollars thousands | 39,952 | PDF p. 43 |
| Investing activities | ||
| Dividend income from investment securities (Note 11)Singapore dollars thousands | 1,371 | PDF p. 43 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 7 | PDF p. 43 |
| Purchase of property, plant and equipment (Note 6)Singapore dollars thousands | (53,840) | PDF p. 43 |
| Purchase of investment securitiesSingapore dollars thousands | (83) | PDF p. 43 |
| Additions to investment properties (Note 7)Singapore dollars thousands | (1,041) | PDF p. 43 |
| Net cash flows used in investing activitiesSingapore dollars thousands | (53,586) | PDF p. 43 |
Original report: PDF p. 43 ↗
FY2024 comparative prints proceeds from disposal of property, plant and equipment7SGD thousands versus dash inFY2023 original. This reconciles investing cash(53,586). OriginalFY2023 source is retained with warning.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group | 2022Group | Source |
|---|---|---|---|
| Group balance sheet — FY2023 source | |||
| Equity attributable to owners of the Company Share capitalSingapore dollars thousands | 515,009 | 515,009 | PDF p. 36 Label p. 36 |
| ReservesSingapore dollars thousands | 809,698 | 835,000 | PDF p. 36 |
| Total equitySingapore dollars thousands | 1,324,707 | 1,350,009 | PDF p. 36 |
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 1,066,705 | 1,060,655 | PDF p. 36 |
| Investment propertiesSingapore dollars thousands | 145,942 | 157,310 | PDF p. 36 |
| GoodwillSingapore dollars thousands | 619 | 626 | PDF p. 36 |
| Investments in associatesSingapore dollars thousands | 5,969 | 5,451 | PDF p. 36 |
| Investment securitiesSingapore dollars thousands | 21,999 | 20,657 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 1,241,234 | 1,244,699 | PDF p. 36 |
| Current assets | |||
| Prepaid operating expensesSingapore dollars thousands | 3,191 | 1,984 | PDF p. 36 |
| InventoriesSingapore dollars thousands | 863 | 889 | PDF p. 36 |
| Trade and other receivablesSingapore dollars thousands | 7,696 | 6,104 | PDF p. 36 |
| Cash and short-term depositsSingapore dollars thousands | 302,221 | 297,524 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 313,971 | 306,501 | PDF p. 36 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars thousands | 12,775 | 16,461 | PDF p. 36 |
| Accrued operating expensesSingapore dollars thousands | 5,619 | 2,920 | PDF p. 36 |
| Lease liabilitiesSingapore dollars thousands | 71 | 66 | PDF p. 36 |
| Loans and borrowingsSingapore dollars thousands | 58,548 | 21,670 | PDF p. 36 |
| Deferred incomeSingapore dollars thousands | 446 | 517 | PDF p. 36 |
| Income tax payableSingapore dollars thousands | 3,559 | 5,053 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 81,018 | 46,687 | PDF p. 36 |
| Net current assetsSingapore dollars thousands | 232,953 | 259,814 | PDF p. 36 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 140,383 | 145,218 | PDF p. 36 |
| Lease liabilitiesSingapore dollars thousands | 9,097 | 9,286 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 149,480 | 154,504 | PDF p. 36 |
| Net assetsSingapore dollars thousands | 1,324,707 | 1,350,009 | PDF p. 36 |
Original report: PDF p. 36 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Company | 2022Company | Source |
|---|---|---|---|
| Company balance sheet — FY2023 source | |||
| Equity attributable to owners of the Company Share capitalSingapore dollars thousands | 515,009 | 515,009 | PDF p. 37 Label p. 37 |
| ReservesSingapore dollars thousands | 223,723 | 212,521 | PDF p. 37 |
| Total equitySingapore dollars thousands | 738,732 | 727,530 | PDF p. 37 |
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 257,395 | 259,611 | PDF p. 37 |
| Investments in subsidiariesSingapore dollars thousands | 356,366 | 356,366 | PDF p. 37 |
| Investments in associatesSingapore dollars thousands | 7,531 | 7,888 | PDF p. 37 |
| Investment securitiesSingapore dollars thousands | 21,999 | 20,657 | PDF p. 37 |
| SubtotalSingapore dollars thousands | 643,291 | 644,522 | PDF p. 37 |
| Current assets | |||
| Prepaid operating expensesSingapore dollars thousands | 173 | 155 | PDF p. 37 |
| InventoriesSingapore dollars thousands | 13 | 12 | PDF p. 37 |
| Trade and other receivablesSingapore dollars thousands | 1,919 | 1,349 | PDF p. 37 |
| Cash and short-term depositsSingapore dollars thousands | 112,142 | 99,584 | PDF p. 37 |
| SubtotalSingapore dollars thousands | 114,247 | 101,100 | PDF p. 37 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars thousands | 5,389 | 5,134 | PDF p. 37 |
| Accrued operating expensesSingapore dollars thousands | 1,262 | 1,100 | PDF p. 37 |
| Lease liabilitiesSingapore dollars thousands | 11 | 18 | PDF p. 37 |
| Income tax payableSingapore dollars thousands | 928 | 775 | PDF p. 37 |
| SubtotalSingapore dollars thousands | 7,590 | 7,027 | PDF p. 37 |
| Net current assetsSingapore dollars thousands | 106,657 | 94,073 | PDF p. 37 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 11,214 | 11,051 | PDF p. 37 |
| Lease liabilitiesSingapore dollars thousands | 2 | 14 | PDF p. 37 |
| SubtotalSingapore dollars thousands | 11,216 | 11,065 | PDF p. 37 |
| Net assetsSingapore dollars thousands | 738,732 | 727,530 | PDF p. 37 |
Original report: PDF p. 37 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group | 2022Group | Source |
|---|---|---|---|
| Revenue | |||
| Hotel operationsSingapore dollars thousands | 137,557 | 130,365 | PDF p. 38 |
| Rental income from investment propertiesSingapore dollars thousands | 11,569 | 13,145 | PDF p. 38 |
| Total revenueSingapore dollars thousands | 149,126 | 143,510 | PDF p. 38 |
| Other incomeSingapore dollars thousands | 1,423 | 1,026 | PDF p. 38 |
| SubtotalSingapore dollars thousands | 150,549 | 144,536 | PDF p. 38 |
| Costs and expenses Staff costsSingapore dollars thousands | (48,460) | (44,276) | PDF p. 38 Label p. 38 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | (21,570) | (20,552) | PDF p. 38 |
| Operating costs and expensesSingapore dollars thousands | (56,074) | (51,260) | PDF p. 38 |
| Reversal of impairment loss on investment in an associated companySingapore dollars thousands | 1,818 | 499 | PDF p. 38 |
| Profit from operating activities before revaluation and fair value adjustmentSingapore dollars thousands | 26,263 | 28,947 | PDF p. 38 Label p. 38 |
| Revaluation deficit on property, plant and equipmentSingapore dollars thousands | – | (1,633) | PDF p. 38 |
| Fair value loss on investment propertiesSingapore dollars thousands | (9,766) | (10,330) | PDF p. 38 |
| Profit from operating activitiesSingapore dollars thousands | 16,497 | 16,984 | PDF p. 38 |
| Finance costsSingapore dollars thousands | (360) | (404) | PDF p. 38 |
| Interest income from fixed depositsSingapore dollars thousands | 9,906 | 3,755 | PDF p. 38 |
| Foreign exchange lossSingapore dollars thousands | (1,335) | (7,110) | PDF p. 38 |
| Share of results of associatesSingapore dollars thousands | (392) | (226) | PDF p. 38 |
| Profit before taxSingapore dollars thousands | 24,316 | 12,999 | PDF p. 38 |
| Income tax expenseSingapore dollars thousands | (12,443) | (12,154) | PDF p. 38 |
| Profit net of tax and attributable to owners of the CompanySingapore dollars thousands | 11,873 | 845 | PDF p. 38 |
| (cents per share) | |||
| BasicSingapore cents per share | 1.61 | 0.11 | PDF p. 38 |
| DilutedSingapore cents per share | 1.61 | 0.11 | PDF p. 38 |
Original report: PDF p. 38 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group | 2022Group | Source |
|---|---|---|---|
| Group comprehensive income — FY2023 source | |||
| Profit net of taxSingapore dollars thousands | 11,873 | 845 | PDF p. 39 |
| Items that will not be reclassified to profit or loss | |||
| Net (deficit)/gain on revaluation of hotel assets, net of taxSingapore dollars thousands | (13,174) | 84,172 | PDF p. 39 |
| Net gain on fair value changes of equity instruments at fair value through other comprehensive income (“FVOCI”)Singapore dollars thousands | 1,259 | 1,121 | PDF p. 39 Label p. 39 |
| SubtotalSingapore dollars thousands | (11,915) | 85,293 | PDF p. 39 |
| Item that may be reclassified subsequently to profit or loss | |||
| Foreign currency translationSingapore dollars thousands | (10,471) | (49,517) | PDF p. 39 |
| SubtotalSingapore dollars thousands | (10,471) | (49,517) | PDF p. 39 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | (22,386) | 35,776 | PDF p. 39 |
| Total comprehensive income for the year and attributable to owners | |||
| Total comprehensive income for the year and attributable to owners of the CompanySingapore dollars thousands | (10,513) | 36,621 | PDF p. 39 Label p. 39 |
Original report: PDF p. 39 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023GroupShare capital | 2023GroupRetained earnings | 2023GroupAsset revaluation reserve | 2023GroupFair value adjustment reserve | 2023GroupForeign currency translation reserve | 2023GroupOther reserve | 2023GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group changes in equity — FY2023 source | ||||||||
| Balance at 1 January 2023Singapore dollars thousands | 515,009 | 290,841 | 700,590 | 4,693 | (162,556) | 1,432 | 1,350,009 | PDF p. 40 |
| Profit net of taxSingapore dollars thousands | – | 11,873 | – | – | – | – | 11,873 | PDF p. 40 |
| Other comprehensive income for the year | ||||||||
| Net gain on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | (13,174) | – | – | – | (13,174) | PDF p. 40 Label p. 40 |
| Group changes in equity — FY2023 source | ||||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 1,259 | – | – | 1,259 | PDF p. 40 Label p. 40 |
| Foreign currency translationSingapore dollars thousands | – | – | – | – | (10,471) | – | (10,471) | PDF p. 40 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 11,873 | (13,174) | 1,259 | (10,471) | – | (10,513) | PDF p. 40 |
| Distributions to owners | ||||||||
| Cash dividendsSingapore dollars thousands | – | (14,789) | – | – | – | – | (14,789) | PDF p. 40 |
| Group changes in equity — FY2023 source Distributions to owners | ||||||||
| Balance at 31 December 2023Singapore dollars thousands | 515,009 | 287,925 | 687,416 | 5,952 | (173,027) | 1,432 | 1,324,707 | PDF p. 40 |
Original report: PDF p. 40 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022GroupShare capital | 2022GroupRetained earnings | 2022GroupAsset revaluation reserve | 2022GroupFair value adjustment reserve | 2022GroupForeign currency translation reserve | 2022GroupOther reserve | 2022GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| Balance at 1 January 2022Singapore dollars thousands | 515,009 | 297,614 | 616,418 | 3,348 | (113,039) | 1,432 | 1,320,782 | PDF p. 40 |
| Profit net of taxSingapore dollars thousands | – | 845 | – | – | – | – | 845 | PDF p. 40 |
| Other comprehensive income for the year | ||||||||
| Net gain on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | 84,172 | – | – | – | 84,172 | PDF p. 40 Label p. 40 |
| Group | ||||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 1,121 | – | – | 1,121 | PDF p. 40 Label p. 40 |
| Foreign currency translationSingapore dollars thousands | – | – | – | – | (49,517) | – | (49,517) | PDF p. 40 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 845 | 84,172 | 1,121 | (49,517) | – | 36,621 | PDF p. 40 |
| Distributions to owners | ||||||||
| Cash dividendsSingapore dollars thousands | – | (7,394) | – | – | – | – | (7,394) | PDF p. 40 |
| Others | ||||||||
| Transfer upon disposal of equity instruments at FVOCISingapore dollars thousands | – | (224) | – | 224 | – | – | – | PDF p. 40 Label p. 40 |
| Balance at 31 December 2022Singapore dollars thousands | 515,009 | 290,841 | 700,590 | 4,693 | (162,556) | 1,432 | 1,350,009 | PDF p. 40 |
Original report: PDF p. 40 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023CompanyShare capital | 2023CompanyRetained earnings | 2023CompanyAsset revaluation reserve | 2023CompanyFair value adjustment reserve | 2023CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company changes in equity — FY2023 source | ||||||
| Balance at 1 January 2023Singapore dollars thousands | 515,009 | 8,077 | 199,751 | 4,693 | 727,530 | PDF p. 41 |
| Profit net of taxSingapore dollars thousands | – | 24,494 | – | – | 24,494 | PDF p. 41 |
| Other comprehensive income for the year | ||||||
| Net gain on revaluation of hotel asset, net of taxSingapore dollars thousands | – | – | 238 | – | 238 | PDF p. 41 Label p. 41 |
| Company changes in equity — FY2023 source | ||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 1,259 | 1,259 | PDF p. 41 Label p. 41 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 24,484 | 238 | 1,259 | 25,991 | PDF p. 41 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (14,789) | – | – | (14,789) | PDF p. 41 |
| Company changes in equity — FY2023 source Distributions to owners | ||||||
| Balance at 31 December 2023Singapore dollars thousands | 515,009 | 17,782 | 199,989 | 5,952 | 738,732 | PDF p. 41 |
Original report: PDF p. 41 ↗
Source printing inconsistency: retained-earnings total comprehensive income24,484 differs from profit24,494 and causes a10SGD thousand sum difference. FY2024 source corrected comparative24,494 is supplied separately; original figure not silently amended.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2022CompanyShare capital | 2022CompanyRetained earnings | 2022CompanyAsset revaluation reserve | 2022CompanyFair value adjustment reserve | 2022CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company | ||||||
| Balance at 1 January 2022Singapore dollars thousands | 515,009 | 15,166 | 181,863 | 3,348 | 715,386 | PDF p. 41 |
| Profit net of taxSingapore dollars thousands | – | 529 | – | – | 529 | PDF p. 41 |
| Other comprehensive income for the year | ||||||
| Net gain on revaluation of hotel asset, net of taxSingapore dollars thousands | – | – | 17,888 | – | 17,888 | PDF p. 41 Label p. 41 |
| Company | ||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 1,121 | 1,121 | PDF p. 41 Label p. 41 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 529 | 17,888 | 1,121 | 19,538 | PDF p. 41 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (7,394) | – | – | (7,394) | PDF p. 41 |
| Others | ||||||
| Transfer upon disposal of equity instruments at FVOCISingapore dollars thousands | – | (224) | – | 224 | – | PDF p. 41 Label p. 41 |
| Balance at 31 December 2022Singapore dollars thousands | 515,009 | 8,077 | 199,751 | 4,693 | 727,530 | PDF p. 41 |
Original report: PDF p. 41 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group | 2022Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before taxSingapore dollars thousands | 24,316 | 12,999 | PDF p. 42 |
| Adjustments for: | |||
| Depreciation of property, plant and equipmentSingapore dollars thousands | 21,570 | 20,552 | PDF p. 42 |
| Fair value loss on investment propertiesSingapore dollars thousands | 9,766 | 10,330 | PDF p. 42 |
| Dividend income from investment securitiesSingapore dollars thousands | (1,371) | (951) | PDF p. 42 |
| Reversal of impairment loss on investment in an associateSingapore dollars thousands | (1,818) | (499) | PDF p. 42 |
| Loss on disposal of property, plant and equipmentSingapore dollars thousands | (1) | 42 | PDF p. 42 |
| Revaluation deficit on property, plant and equipmentSingapore dollars thousands | – | 1,633 | PDF p. 42 |
| Finance costsSingapore dollars thousands | 360 | 404 | PDF p. 42 |
| Interest income from fixed depositsSingapore dollars thousands | (9,906) | (3,755) | PDF p. 42 |
| Foreign exchange lossSingapore dollars thousands | 1,335 | 7,110 | PDF p. 42 |
| Share of results of associatesSingapore dollars thousands | 392 | 226 | PDF p. 42 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 44,643 | 48,091 | PDF p. 42 |
| Decrease/(increase) in inventoriesSingapore dollars thousands | 17 | (132) | PDF p. 42 |
| (Increase)/decrease in trade and other receivablesSingapore dollars thousands | (1,658) | 4,522 | PDF p. 42 |
| Increase in prepaid operating expensesSingapore dollars thousands | (1,231) | (252) | PDF p. 42 |
| (Decrease)/increase in trade and other payablesSingapore dollars thousands | (3,572) | 4,716 | PDF p. 42 |
| Increase in accrued operating expensesSingapore dollars thousands | 2,719 | 679 | PDF p. 42 |
| Cash flows from operationsSingapore dollars thousands | 40,918 | 57,624 | PDF p. 42 |
| Interest receivedSingapore dollars thousands | 9,906 | 3,755 | PDF p. 42 |
| Interest paidSingapore dollars thousands | (31) | (133) | PDF p. 42 |
| Income taxes paidSingapore dollars thousands | (10,841) | (17,919) | PDF p. 42 |
| Net cash flows generated from operating activitiesSingapore dollars thousands | 39,952 | 43,327 | PDF p. 42 |
| Investing activities | |||
| Dividend income from investment securitiesSingapore dollars thousands | 1,371 | 951 | PDF p. 42 |
| Proceeds from disposal of investment securitiesSingapore dollars thousands | – | 517 | PDF p. 42 |
| Proceeds from disposal of investment propertiesSingapore dollars thousands | – | 79,224 | PDF p. 42 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | – | 17 | PDF p. 42 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (53,840) | (35,085) | PDF p. 42 |
| Purchase of investment securitiesSingapore dollars thousands | (83) | (164) | PDF p. 42 |
| Additions to investment propertiesSingapore dollars thousands | (1,041) | (1,044) | PDF p. 42 |
| Net cash flows (used in)/generated from investing activitiesSingapore dollars thousands | (53,586) | 44,416 | PDF p. 42 |
Original report: PDF p. 42 ↗
Source printing inconsistency: dash printed for PPE disposal proceeds leaves investing components7SGD thousands below the printed subtotal. FY2024 source comparative prints7 and reconciles the subtotal; supplied separately.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2023Group | 2022Group | Source |
|---|---|---|---|
| Financing activities | |||
| Cash dividends paid on ordinary sharesSingapore dollars thousands | (14,789) | (7,394) | PDF p. 43 |
| Repayments of loans and borrowingsSingapore dollars thousands | – | (11,046) | PDF p. 43 |
| Repayment of lease liabilitiesSingapore dollars thousands | (407) | (378) | PDF p. 43 |
| Proceeds from term loanSingapore dollars thousands | 37,220 | 19,121 | PDF p. 43 |
| Placement of restricted cash – fixed deposits pledged for bank loan and credit facilitySingapore dollars thousands | (12,986) | – | PDF p. 43 Label p. 43 |
| Net cash flows generated from financing activitiesSingapore dollars thousands | 9,038 | 303 | PDF p. 43 |
| Net (decrease)/increase in cash and cash equivalentsSingapore dollars thousands | (4,596) | 88,046 | PDF p. 43 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars thousands | (3,693) | (16,958) | PDF p. 43 |
| Cash and cash equivalents at 1 JanuarySingapore dollars thousands | 246,050 | 174,962 | PDF p. 43 |
| Cash and cash equivalents at 31 DecemberSingapore dollars thousands | 237,761 | 246,050 | PDF p. 43 |
| Cash and cash equivalents at end of year comprise: Cash at bank and on handSingapore dollars thousands | 266,840 | 35,642 | PDF p. 43 Label p. 43 |
| Short-term depositsSingapore dollars thousands | 35,381 | 261,882 | PDF p. 43 |
| Cash and cash equivalents per balance sheetsSingapore dollars thousands | 302,221 | 297,524 | PDF p. 43 |
| Less: Fixed deposits pledgedSingapore dollars thousands | (64,460) | (51,474) | PDF p. 43 |
| Cash and cash equivalents at 31 DecemberSingapore dollars thousands | 237,761 | 246,050 | PDF p. 43 |
Original report: PDF p. 43 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2020Group | Source |
|---|---|---|---|
| Group balance sheet — FY2021 source | |||
| Equity attributable to owners of the Company Share capitalSingapore dollars thousands | 515,009 | 502,537 | PDF p. 35 Label p. 35 |
| ReservesSingapore dollars thousands | 805,773 | 831,990 | PDF p. 35 |
| Total equitySingapore dollars thousands | 1,320,782 | 1,334,527 | PDF p. 35 |
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 971,923 | 999,086 | PDF p. 35 |
| Investment propertiesSingapore dollars thousands | 156,356 | 263,549 | PDF p. 35 |
| Intangible assetsSingapore dollars thousands | – | 86 | PDF p. 35 |
| GoodwillSingapore dollars thousands | 674 | 700 | PDF p. 35 |
| Investments in associatesSingapore dollars thousands | 6,159 | 7,115 | PDF p. 35 |
| Deferred tax assetsSingapore dollars thousands | – | 844 | PDF p. 35 |
| Investment securitiesSingapore dollars thousands | 19,889 | 17,340 | PDF p. 35 |
| SubtotalSingapore dollars thousands | 1,155,001 | 1,288,720 | PDF p. 35 |
| Current assets | |||
| Prepaid operating expensesSingapore dollars thousands | 1,856 | 2,689 | PDF p. 35 |
| InventoriesSingapore dollars thousands | 803 | 655 | PDF p. 35 |
| Trade and other receivablesSingapore dollars thousands | 10,997 | 9,071 | PDF p. 35 |
| Cash and short-term depositsSingapore dollars thousands | 230,874 | 228,960 | PDF p. 35 |
| Assets held for saleSingapore dollars thousands | 98,056 | – | PDF p. 35 |
| SubtotalSingapore dollars thousands | 342,586 | 241,375 | PDF p. 35 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars thousands | 12,203 | 12,463 | PDF p. 35 |
| Accrued operating expensesSingapore dollars thousands | 2,336 | 2,002 | PDF p. 35 |
| Lease liabilitiesSingapore dollars thousands | 118 | 132 | PDF p. 35 |
| Loans and borrowingsSingapore dollars thousands | 14,770 | 27,704 | PDF p. 35 |
| Deferred incomeSingapore dollars thousands | 931 | 824 | PDF p. 35 |
| Income tax payableSingapore dollars thousands | 4,684 | 4,735 | PDF p. 35 |
| SubtotalSingapore dollars thousands | 35,042 | 47,860 | PDF p. 35 |
| Net current assetsSingapore dollars thousands | 307,544 | 193,515 | PDF p. 35 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 137,198 | 142,862 | PDF p. 35 |
| Lease liabilitiesSingapore dollars thousands | 4,565 | 4,846 | PDF p. 35 |
| SubtotalSingapore dollars thousands | 1,320,782 | 1,334,527 | PDF p. 35 |
Original report: PDF p. 35 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Company | 2020Company | Source |
|---|---|---|---|
| Company balance sheet — FY2021 source | |||
| Equity attributable to owners of the Company Share capitalSingapore dollars thousands | 515,009 | 502,537 | PDF p. 36 Label p. 36 |
| ReservesSingapore dollars thousands | 200,377 | 218,787 | PDF p. 36 |
| Total equitySingapore dollars thousands | 715,386 | 721,324 | PDF p. 36 |
| Non-current assets | |||
| Property, plant and equipmentSingapore dollars thousands | 242,874 | 249,882 | PDF p. 36 |
| Investments in subsidiariesSingapore dollars thousands | 344,736 | 344,736 | PDF p. 36 |
| Investments in associatesSingapore dollars thousands | 7,888 | 8,584 | PDF p. 36 |
| Investment securitiesSingapore dollars thousands | 19,889 | 17,340 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 615,387 | 620,542 | PDF p. 36 |
| Current assets | |||
| Prepaid operating expensesSingapore dollars thousands | 146 | 135 | PDF p. 36 |
| InventoriesSingapore dollars thousands | 15 | 14 | PDF p. 36 |
| Trade and other receivablesSingapore dollars thousands | 848 | 674 | PDF p. 36 |
| Cash and short-term depositsSingapore dollars thousands | 112,940 | 114,268 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 113,949 | 115,091 | PDF p. 36 |
| Current liabilities | |||
| Trade and other payablesSingapore dollars thousands | 4,271 | 4,025 | PDF p. 36 |
| Accrued operating expensesSingapore dollars thousands | 972 | 915 | PDF p. 36 |
| Lease liabilitiesSingapore dollars thousands | 39 | 29 | PDF p. 36 |
| Income tax payableSingapore dollars thousands | 37 | 60 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 5,319 | 5,029 | PDF p. 36 |
| Net current assetsSingapore dollars thousands | 108,630 | 110,062 | PDF p. 36 |
| Non-current liabilities | |||
| Deferred tax liabilitiesSingapore dollars thousands | 8,619 | 9,229 | PDF p. 36 |
| Lease liabilitiesSingapore dollars thousands | 12 | 51 | PDF p. 36 |
| SubtotalSingapore dollars thousands | 715,386 | 721,324 | PDF p. 36 |
Original report: PDF p. 36 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2020Group | Source |
|---|---|---|---|
| Revenue | |||
| Hotel operationsSingapore dollars thousands | 105,629 | 74,914 | PDF p. 37 |
| Rental income from investment propertiesSingapore dollars thousands | 17,434 | 18,155 | PDF p. 37 |
| Total revenueSingapore dollars thousands | 123,063 | 93,069 | PDF p. 37 |
| Other incomeSingapore dollars thousands | 3,116 | 642 | PDF p. 37 |
| SubtotalSingapore dollars thousands | 126,179 | 93,711 | PDF p. 37 |
| Costs and expenses Staff costsSingapore dollars thousands | (35,495) | (22,489) | PDF p. 37 Label p. 37 |
| Depreciation of property, plant and equipmentSingapore dollars thousands | (21,103) | (21,824) | PDF p. 37 |
| Operating costs and expensesSingapore dollars thousands | (44,491) | (36,424) | PDF p. 37 |
| Impairment loss on investment in an associated companySingapore dollars thousands | (516) | (937) | PDF p. 37 |
| Profit from operating activities before fair value adjustmentSingapore dollars thousands | 24,574 | 12,037 | PDF p. 37 |
| Revaluation deficit on property, plant and equipmentSingapore dollars thousands | – | (2,626) | PDF p. 37 |
| Fair value (loss)/ gain on investment propertiesSingapore dollars thousands | (1,535) | 14,318 | PDF p. 37 |
| Gain on disposal of investment propertySingapore dollars thousands | – | 8,139 | PDF p. 37 |
| Profit from operating activitiesSingapore dollars thousands | 23,039 | 31,868 | PDF p. 37 |
| Finance costsSingapore dollars thousands | (579) | (1,687) | PDF p. 37 |
| Interest income from fixed depositsSingapore dollars thousands | 837 | 1,632 | PDF p. 37 |
| Foreign exchange (loss)/gainSingapore dollars thousands | (3,341) | 7,106 | PDF p. 37 |
| Share of results of associatesSingapore dollars thousands | (153) | (697) | PDF p. 37 |
| Profit before taxSingapore dollars thousands | 19,803 | 38,222 | PDF p. 37 |
| Income tax expenseSingapore dollars thousands | (5,851) | (894) | PDF p. 37 |
| Profit net of tax and attributable to owners of the CompanySingapore dollars thousands | 13,952 | 37,328 | PDF p. 37 |
| (cents per share) | |||
| BasicSingapore cents per share | 1.91 | 5.14 | PDF p. 37 |
| DilutedSingapore cents per share | 1.91 | 5.14 | PDF p. 37 |
Original report: PDF p. 37 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2020Group | Source |
|---|---|---|---|
| Group comprehensive income — FY2021 source | |||
| Profit net of taxSingapore dollars thousands | 13,952 | 37,328 | PDF p. 38 |
| Items that will not be reclassified to profit or loss | |||
| Net deficit on revaluation of hotel assets, net of taxSingapore dollars thousands | (5,904) | (62,223) | PDF p. 38 |
| Net gain/(loss) on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | 2,305 | (1,112) | PDF p. 38 Label p. 38 |
| SubtotalSingapore dollars thousands | (3,599) | (63,335) | PDF p. 38 |
| Items that may be reclassified subsequently to profit or loss | |||
| Foreign currency translationSingapore dollars thousands | (22,038) | 39,706 | PDF p. 38 |
| SubtotalSingapore dollars thousands | (22,038) | 39,706 | PDF p. 38 |
| Other comprehensive income for the year, net of taxSingapore dollars thousands | (25,637) | (23,629) | PDF p. 38 |
| Total comprehensive income for the year and attributable to owners | |||
| Total comprehensive income for the year and attributable to owners of the CompanySingapore dollars thousands | (11,685) | 13,699 | PDF p. 38 Label p. 38 |
Original report: PDF p. 38 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021GroupShare capital | 2021GroupRetained earnings | 2021GroupAsset revaluation reserve | 2021GroupFair value adjustment reserve | 2021GroupForeign currency translation reserve | 2021GroupOther reserve | 2021GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group changes in equity — FY2021 source | ||||||||
| Balance at 1 January 2021Singapore dollars thousands | 502,537 | 297,739 | 622,777 | 1,043 | (91,001) | 1,432 | 1,334,527 | PDF p. 39 |
| Profit net of taxSingapore dollars thousands | – | 13,952 | – | – | – | – | 13,952 | PDF p. 39 |
| Other comprehensive income for the year | ||||||||
| Net deficit on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | (5,904) | – | – | – | (5,904) | PDF p. 39 Label p. 39 |
| Group changes in equity — FY2021 source | ||||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 2,305 | – | – | 2,305 | PDF p. 39 Label p. 39 |
| Foreign currency translationSingapore dollars thousands | – | – | – | – | (22,038) | – | (22,038) | PDF p. 39 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 13,952 | (5,904) | 2,305 | (22,038) | – | (11,685) | PDF p. 39 |
| Distributions to owners | ||||||||
| Cash dividendsSingapore dollars thousands | – | (2,060) | – | – | – | – | (2,060) | PDF p. 39 |
| Group changes in equity — FY2021 source Distributions to owners | ||||||||
| Scrip dividendsSingapore dollars thousands | 12,472 | (12,472) | – | – | – | – | – | PDF p. 39 |
| SubtotalSingapore dollars thousands | 12,472 | (14,532) | – | – | – | – | (2,060) | PDF p. 39 |
| Others | ||||||||
| Transfer from asset revaluation reserve to retained earningsSingapore dollars thousands | – | 455 | (455) | – | – | – | – | PDF p. 39 Label p. 39 |
| Balance at 31 December 2021Singapore dollars thousands | 515,009 | 297,614 | 616,418 | 3,348 | (113,039) | 1,432 | 1,320,782 | PDF p. 39 |
Original report: PDF p. 39 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2020GroupShare capital | 2020GroupRetained earnings | 2020GroupAsset revaluation reserve | 2020GroupFair value adjustment reserve | 2020GroupForeign currency translation reserve | 2020GroupOther reserve | 2020GroupTotal equity | Source |
|---|---|---|---|---|---|---|---|---|
| Group | ||||||||
| Balance at 1 January 2020Singapore dollars thousands | 502,537 | 289,472 | 685,000 | 2,155 | (130,707) | 1,432 | 1,349,889 | PDF p. 39 |
| Profit net of taxSingapore dollars thousands | – | 37,328 | – | – | – | – | 37,328 | PDF p. 39 |
| Other comprehensive income for the year | ||||||||
| Net deficit on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | (62,223) | – | – | – | (62,223) | PDF p. 39 Label p. 39 |
| Group | ||||||||
| Net loss on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | (1,112) | – | – | (1,112) | PDF p. 39 Label p. 39 |
| Foreign currency translationSingapore dollars thousands | – | – | – | – | 39,706 | – | 39,706 | PDF p. 39 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 37,328 | (62,223) | (1,112) | 39,706 | – | 13,699 | PDF p. 39 |
| Distributions to owners | ||||||||
| Cash dividendsSingapore dollars thousands | – | (29,061) | – | – | – | – | (29,061) | PDF p. 39 |
| Group Distributions to owners | ||||||||
| Balance at 31 December 2020Singapore dollars thousands | 502,537 | 297,739 | 622,777 | 1,043 | (91,001) | 1,432 | 1,334,527 | PDF p. 39 |
Original report: PDF p. 39 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021CompanyShare capital | 2021CompanyRetained earnings | 2021CompanyAsset revaluation reserve | 2021CompanyFair value adjustment reserve | 2021CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company changes in equity — FY2021 source | ||||||
| Balance at 1 January 2021Singapore dollars thousands | 502,537 | 31,302 | 186,442 | 1,043 | 721,324 | PDF p. 40 |
| Profit net of taxSingapore dollars thousands | – | (1,604) | – | – | (1,604) | PDF p. 40 |
| Other comprehensive income for the year | ||||||
| Net deficit on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | (4,579) | – | (4,579) | PDF p. 40 Label p. 40 |
| Company changes in equity — FY2021 source | ||||||
| Net gain on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | 2,305 | 2,305 | PDF p. 40 Label p. 40 |
| Total comprehensive income for the yearSingapore dollars thousands | – | (1,604) | (4,579) | 2,305 | (3,878) | PDF p. 40 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (2,060) | – | – | (2,060) | PDF p. 40 |
| Company changes in equity — FY2021 source Distributions to owners | ||||||
| Scrip dividendsSingapore dollars thousands | 12,472 | (12,472) | – | – | – | PDF p. 40 |
| SubtotalSingapore dollars thousands | 12,472 | (14,532) | – | – | (2,060) | PDF p. 40 |
| Balance at 31 December 2021Singapore dollars thousands | 515,009 | 15,166 | 181,863 | 3,348 | 715,386 | PDF p. 40 |
Original report: PDF p. 40 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2020CompanyShare capital | 2020CompanyRetained earnings | 2020CompanyAsset revaluation reserve | 2020CompanyFair value adjustment reserve | 2020CompanyTotal equity | Source |
|---|---|---|---|---|---|---|
| Company | ||||||
| Balance at 1 January 2020Singapore dollars thousands | 502,537 | 40,128 | 214,691 | 2,155 | 759,511 | PDF p. 40 |
| Profit net of taxSingapore dollars thousands | – | 20,235 | – | – | 20,235 | PDF p. 40 |
| Other comprehensive income for the year | ||||||
| Net deficit on revaluation of hotel assets, net of taxSingapore dollars thousands | – | – | (28,249) | – | (28,249) | PDF p. 40 Label p. 40 |
| Company | ||||||
| Net loss on fair value changes of equity instruments at fair value through other comprehensive incomeSingapore dollars thousands | – | – | – | (1,112) | (1,112) | PDF p. 40 Label p. 40 |
| Total comprehensive income for the yearSingapore dollars thousands | – | 20,235 | (28,249) | (1,112) | (9,126) | PDF p. 40 |
| Distributions to owners | ||||||
| Cash dividendsSingapore dollars thousands | – | (29,061) | – | – | (29,061) | PDF p. 40 |
| Company Distributions to owners | ||||||
| Balance at 31 December 2020Singapore dollars thousands | 502,537 | 31,302 | 186,442 | 1,043 | 721,324 | PDF p. 40 |
Original report: PDF p. 40 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2020Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before taxSingapore dollars thousands | 19,803 | 38,222 | PDF p. 41 |
| Adjustments for: | |||
| Depreciation of property, plant and equipmentSingapore dollars thousands | 21,103 | 21,824 | PDF p. 41 |
| Fair value loss/(gain) on investment propertiesSingapore dollars thousands | 1,535 | (14,318) | PDF p. 41 |
| Dividend income from investment securitiesSingapore dollars thousands | (700) | (583) | PDF p. 41 |
| Net (gain)/loss on disposal of property, plant and equipmentSingapore dollars thousands | (1,763) | 145 | PDF p. 41 |
| Impairment loss on investment in an associateSingapore dollars thousands | 516 | 937 | PDF p. 41 |
| Impairment of goodwillSingapore dollars thousands | 82 | – | PDF p. 41 |
| Gain on disposal of investment propertySingapore dollars thousands | - | (8,139) | PDF p. 41 |
| Revaluation deficit on property, plant and equipmentSingapore dollars thousands | - | 2,626 | PDF p. 41 |
| Credit impairment on trade receivablesSingapore dollars thousands | - | 113 | PDF p. 41 |
| Finance costsSingapore dollars thousands | 579 | 1,687 | PDF p. 41 |
| Interest income from fixed depositsSingapore dollars thousands | (837) | (1,632) | PDF p. 41 |
| Foreign exchange loss/(gain)Singapore dollars thousands | 3,341 | (7,106) | PDF p. 41 |
| Share of results of associatesSingapore dollars thousands | 153 | 697 | PDF p. 41 |
| Operating cash flows before changes in working capitalSingapore dollars thousands | 43,812 | 34,473 | PDF p. 41 |
| (Increase)/decrease in inventoriesSingapore dollars thousands | (169) | 140 | PDF p. 41 |
| Increase in trade and other receivablesSingapore dollars thousands | (2,054) | (3,376) | PDF p. 41 |
| Decrease in prepaid operating expensesSingapore dollars thousands | 747 | 352 | PDF p. 41 |
| Increase/(decrease) in trade and other payablesSingapore dollars thousands | 282 | (3,191) | PDF p. 41 |
| Increase/(decrease) in accrued operating expensesSingapore dollars thousands | 370 | (447) | PDF p. 41 |
| Cash flows from operationsSingapore dollars thousands | 42,988 | 27,951 | PDF p. 41 |
| Interest receivedSingapore dollars thousands | 837 | 1,632 | PDF p. 41 |
| Interest paidSingapore dollars thousands | (400) | (1,514) | PDF p. 41 |
| Income taxes paidSingapore dollars thousands | (6,001) | (4,307) | PDF p. 41 |
| Net cash flows generated from operating activitiesSingapore dollars thousands | 37,424 | 23,762 | PDF p. 41 |
| Investing activities | |||
| Dividend income from investment securitiesSingapore dollars thousands | 700 | 583 | PDF p. 41 |
| Proceeds from disposal of property, plant and equipmentSingapore dollars thousands | 10,709 | – | PDF p. 41 |
| Proceeds from disposal of investment securitiesSingapore dollars thousands | – | 95 | PDF p. 41 |
| Proceeds from disposal of investment propertySingapore dollars thousands | – | 56,195 | PDF p. 41 |
| Purchase of property, plant and equipmentSingapore dollars thousands | (23,366) | (13,089) | PDF p. 41 |
| Purchase of investment securitiesSingapore dollars thousands | (244) | (4,118) | PDF p. 41 |
| Additions to investment propertiesSingapore dollars thousands | (1,690) | (68) | PDF p. 41 |
| Net cash flows (used in)/ generated from investing activitiesSingapore dollars thousands | (13,891) | 39,598 | PDF p. 41 |
Original report: PDF p. 41 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2020Group | Source |
|---|---|---|---|
| Financing activities | |||
| Cash dividends paid on ordinary sharesSingapore dollars thousands | (2,060) | (29,061) | PDF p. 42 |
| Repayments of loans and borrowingsSingapore dollars thousands | (14,769) | (28,420) | PDF p. 42 |
| Repayment of lease liabilitiesSingapore dollars thousands | (302) | (309) | PDF p. 42 |
| Proceeds from term loanSingapore dollars thousands | 2,769 | – | PDF p. 42 |
| Net cash flows used in financing activitiesSingapore dollars thousands | (14,362) | (57,790) | PDF p. 42 |
| Net increase in cash and cash equivalentsSingapore dollars thousands | 9,171 | 5,570 | PDF p. 42 |
| Effect of exchange rate changes on cash and cash equivalentsSingapore dollars thousands | (7,257) | 12,823 | PDF p. 42 |
| Cash and cash equivalents at 1 JanuarySingapore dollars thousands | 228,960 | 210,567 | PDF p. 42 |
| Cash and cash equivalents at 31 DecemberSingapore dollars thousands | 230,874 | 228,960 | PDF p. 42 |
| Cash and cash equivalents at end of year comprise: Cash at bank and on handSingapore dollars thousands | 51,659 | 43,800 | PDF p. 42 Label p. 42 |
| Short-term depositsSingapore dollars thousands | 179,215 | 185,160 | PDF p. 42 |
| Cash and cash equivalents at 31 December (Note 14)Singapore dollars thousands | 230,874 | 228,960 | PDF p. 42 |
Original report: PDF p. 42 ↗
Where the money comes from
| Item / unit | 2025Hotel operations | 2024Hotel operations | 2025Commercial property investments | 2024Commercial property investments | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Sales to external customers$’000 | 134,198 | 129,096 | 11,366 | 11,392 | 145,564 | 140,488 | PDF p. 102 |
Label wraps across two lines: 'Sales to external' / 'customers'. Table covers the years ended 31 December 2025 and 2024.
| Item / unit | 2025Hotel operations | 2024Hotel operations | 2025Commercial property investments | 2024Commercial property investments | 2025Total | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Segment assets$’000 | 1,043,591 | 1,076,674 | 107,345 | 128,582 | 1,150,936 | 1,205,256 | PDF p. 102 |
| Interest earning cash and short-term deposits$’000 | 307,567 | 289,706 | 10,422 | 7,025 | 317,989 | 296,731 | PDF p. 102 |
| Investment in associates$’000 | 5,485 | 5,208 | – | – | 5,485 | 5,208 | PDF p. 102 |
| Total assets$’000 | 1,356,643 | 1,371,588 | 117,767 | 135,607 | 1,474,410 | 1,507,195 | PDF p. 102 |
| Other | |||||||
| Capital expenditure$’000 | 8,273 | 27,215 | 169 | 309 | 8,442 | 27,524 | PDF p. 102 |
The label 'Interest earning cash and short-term deposits' wraps across two lines. Total capital expenditure for 2025 is printed as 8,442 here versus 8,236 in the geographical table on page 100; both are printed as shown.
| Item / unit | 2025Singapore | 2025Malaysia | 2025Australia | 2025New Zealand | 2025China | 2025Eliminations | 2025Group | 2024Singapore | 2024Malaysia | 2024Australia | 2024New Zealand | 2024China | 2024Eliminations | 2024Group | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment results | |||||||||||||||
| Turnover$’000 | 28,455 | 371 | 85,573 | 30,848 | 317 | – | 145,564 | 27,639 | 323 | 82,664 | 29,256 | 606 | – | 140,488 | PDF p. 100PDF p. 101 |
| Segment results$’000 | 4,314 | (225) | 11,403 | (48,057) | (1,030) | – | (33,595) | 2,943 | (234) | 9,753 | (6,283) | (757) | – | 5,422 | PDF p. 100PDF p. 101 |
| Finance costs$’000 | (12) | – | (1) | (3,300) | – | – | (3,313) | (12) | – | (2) | (2,348) | – | – | (2,362) | PDF p. 100PDF p. 101 |
| Interest income from fixed deposits$’000 | 3,072 | 546 | 5,148 | 316 | 2 | – | 9,084 | 4,749 | 510 | 5,574 | 552 | 6 | – | 11,391 | PDF p. 100PDF p. 101 |
| Share of results of associates$’000 | – | (216) | – | – | – | – | (216) | – | (1,526) | – | – | – | – | (1,526) | PDF p. 100PDF p. 101 |
| Assets | |||||||||||||||
| Segment assets$’000 | 628,114 | 6,580 | 282,610 | 231,415 | 11,162 | (8,945) | 1,150,936 | 638,524 | 5,580 | 263,500 | 294,226 | 11,783 | (8,357) | 1,205,256 | PDF p. 100PDF p. 101 |
| Cash and short-term deposits$’000 | 142,275 | 17,080 | 141,526 | 15,043 | 2,065 | – | 317,989 | 137,944 | 16,133 | 126,699 | 13,629 | 2,326 | – | 296,731 | PDF p. 100PDF p. 101 |
| Investment in associates$’000 | – | 5,485 | – | – | – | – | 5,485 | – | 5,208 | – | – | – | – | 5,208 | PDF p. 100PDF p. 101 |
| Liabilities | |||||||||||||||
| Segment liabilities$’000 | (11,235) | (67) | (10,728) | (8,163) | (1,196) | 8,644 | (22,745) | (11,091) | (53) | (8,996) | (12,401) | (1,124) | 8,056 | (25,609) | PDF p. 100PDF p. 101 |
| Borrowing$’000 | – | – | – | (63,028) | – | – | (63,028) | – | – | – | (65,093) | – | – | (65,093) | PDF p. 100PDF p. 101 |
| Other | |||||||||||||||
| Capital expenditure$’000 | 850 | 17 | 6,160 | 1,208 | 1 | – | 8,236 | 1,387 | 34 | 8,811 | 17,289 | 3 | – | 27,524 | PDF p. 100PDF p. 101 |
| Depreciation and amortisation$’000 | 9,923 | 153 | 7,266 | 5,033 | 788 | – | 23,163 | 11,134 | 144 | 6,899 | 4,125 | 801 | – | 23,103 | PDF p. 100PDF p. 101 |
Rows with a single value (income tax expense, unallocated FX, loss for the year, total assets, unallocated liabilities, total liabilities) are printed only in the Group column.
Segment performance is evaluated based on operating profit or loss. Unallocated items comprise mainly income tax and foreign exchange gain or loss, and deferred tax assets and liabilities. Inter-segment assets and liabilities are eliminated.
Rows with a single value are printed only in the Group column.
Debt
| Item / unit | 2025One year or less, $'000 | 2025One to five years, $'000 | 2025More than 5 years, $'000 | 2025Total, $'000 | 2024One year or less, $'000 | 2024One to five years, $'000 | 2024More than 5 years, $'000 | 2024Total, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Financial liabilities | |||||||||
| Lease liabilities$'000 | 378 | 1,371 | 3,351 | 5,100 | 386 | 1,448 | 25,083 | 26,917 | PDF p. 93 |
| Borrowing$'000 | 65,838 | – | – | 65,838 | 66,663 | – | – | 66,663 | PDF p. 93 |
Based on contractual undiscounted repayment obligations.
| Item / unit | 2025One year or less, $'000 | 2025One to five years, $'000 | 2025More than 5 years, $'000 | 2025Total, $'000 | 2024One year or less, $'000 | 2024One to five years, $'000 | 2024More than 5 years, $'000 | 2024Total, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Financial liabilities | |||||||||
| Lease liabilities$'000 | 55 | 126 | – | 181 | 53 | 164 | – | 217 | PDF p. 94 |
No borrowing line printed for Company.
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current | |||
| Short-term bank loan (Note 17(a))$'000 | 63,028 | 65,093 | PDF p. 76 |
| Short-term bank loan | |||
| NZD loan to subsidiary in New Zealand - Short-term bank loan (current)$'000 | 63,028 | 65,093 | PDF p. 76 |
Maturity: Within 1 year. Only borrowing is current; no non-current borrowing printed.
The NZD short-term revolving bank loan facility granted to a subsidiary in New Zealand is secured by a charge over certain fixed deposits of the Company (Note 14). The loan bears interest at 0.9% per annum above the bank's cost of funds. The effective interest rate ranged between 3.65% to 5.43% (2024: 5.55% to 6.88%) per annum. Interest is repriced at an interval of between one to three months.
Currency: NZD. Secured.
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current liabilities | |||
| Lease liabilities$'000 | 246 | 85 | PDF p. 38 |
| Borrowing$'000 | 63,028 | 65,093 | PDF p. 38 |
| Non-current liabilities | |||
| Lease liabilities$'000 | 3,594 | 8,468 | PDF p. 38 |
Balance sheet lease liabilities include hire purchase per Note 16(c) totals.
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Current liabilities | |||
| Lease liabilities$'000 | 54 | 53 | PDF p. 39 |
| Non-current liabilities | |||
| Lease liabilities$'000 | 125 | 164 | PDF p. 39 |
Company has no borrowing line on its balance sheet.
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Lease liabilities | |||||
| Current$'000 | 201 | 39 | 9 | 7 | PDF p. 74 |
| Non-current$'000 | 3,492 | 8,321 | 23 | 17 | PDF p. 74 |
| Hire purchase | |||||
| Current$'000 | 45 | 46 | 45 | 46 | PDF p. 74 |
| Non-current$'000 | 102 | 147 | 102 | 147 | PDF p. 74 |
| Total lease liabilities and hire purchase | |||||
| Total$'000 | 3,840 | 8,553 | 179 | 217 | PDF p. 74 |
Subtotals printed: lease liabilities 3,693 / 8,360 / 32 / 24; hire purchase 147 / 193 / 147 / 193.
The maturity analysis of lease liabilities is disclosed in Note 29.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company does not have a fixed dividend policy. The Board will consider various factors, such as the Company’s and/or Group’s earnings, general financial position, capital expenditure requirements, cash flow, general business environment, development plans and other factors that may be deemed appropriate, to determine whether dividends would be paid for the financial year. | Company | PDF p. 27 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Final exempt (one-tier) dividend for 2025 - Ordinary | 1.5 cents per share | Group and Company, FY2025, proposed, subject to shareholders' approval at AGM; comparative 2024: 1.5 cents | PDF p. 82 |
| Final exempt (one-tier) dividend for 2025 - Ordinary | 1.5 cents per share | Group and Company, comparative year 2024, proposed | PDF p. 82 |
| Final exempt (one-tier) dividend for 2025: Ordinary | 1.5 cents per share | Group and Company, declared and paid during financial year 2025 (comparative 2024: 2.0 cents) | PDF p. 82 |
| The final dividend was paid on | 22 May 2025 | Group and Company, dividend paid during 2025 (2024: 31 May 2024) · As at 2025-05-22 | PDF p. 82 |
| For FY2025 | For FY2025, the Board has recommended a first and final dividend of 1.5 Singapore cent per share. The dividend payment is subject to shareholders’ approval at the upcoming AGM to be held on 30 April 2026. | Company, FY2025 | PDF p. 27 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Ordinary Dividends Per Share (Cents) | 1.50 cents | FY2025 (five-year summary columns 2021-2025: 1.00, 2.00, 2.00, 1.50, 1.50); 2024 also 1.50 | PDF p. 30 |
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 |
|---|---|---|---|
| Auditor | Ernst & Young LLP | Group | PDF p. 37 |
| Engagement partner | Lim Huijing Amanda | Group | PDF p. 37 |
| Auditor's report date | 15 April 2026 | Group · As at 2026-04-15 | PDF p. 37 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company | PDF p. 34 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Carrying value of hotel assets | Carrying value of hotel assets | Group | PDF p. 34 |
| Carrying value of hotel assets | The carrying value of the hotel assets is significant to our audit due to their magnitude, significant judgement required and sensitivity of the assumptions used by the external professional valuers and management. | Group | PDF p. 35 |
| Valuation of investment properties | Valuation of investment properties | Group | PDF p. 35 |
| Valuation of investment properties | Investment properties represent 9% of non-current assets as at 31 December 2025. | Group · As at 2025-12-31 | PDF p. 35 |
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.
Group income, comprehensive income and cash flows; Group and separate Company balance sheets and changes in equity are retained. No separate Company income/comprehensive/cash-flow statement is disclosed. Monetary presentation Singapore dollars thousands, earnings per share Singapore cents. Balance sheets show equity first and net-assets bridge after assets/liabilities; original order is retained.
Current five-year summary coversFY2021–FY2025; primary statements also supplyFY2020. Summary net-assets-per-share uses closing shares, EPS weighted shares; summary dividends relate to the financial year and proposed amounts, distinct from cash-flow payments.
Note25 retains source wording for paid dividend (for2025;1.5c;cash11091thousand on22May2025) separately from proposedFY2025 final1.5c/11091thousand subject to AGM, not recognised as a liability. EPS note weighted739426thousand shares is distinct from full register739426148 shares.
FY2024 comparative prints retained-earnings comprehensive income24,494, correcting24,484 printed inFY2023 original; profit, total equity and closing balances agree. OriginalFY2023 is retained separately with warning.
FY2024 comparative prints proceeds from disposal of property, plant and equipment7SGD thousands versus dash inFY2023 original. This reconciles investing cash(53,586). OriginalFY2023 source is retained with warning.
Two verifiedFY2023 print inconsistencies are retained as printed and explained: Company retained-earnings comprehensive subtotal24,484 vs24,494 and PPE disposal proceeds dash vs7. FY2024 original corrected comparatives supplied with separate source/page provenance.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.