Hock Lian Seng J2T

SGD 0.255 +0.00% +0.00 Updated 6 Nov 2026, 17:16 SGT

Financials

Hock Lian Seng Holdings Limited Annual Report 2025

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14 tables

Consolidated Income Statement

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Consolidated Income Statement from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Consolidated Income Statement
RevenueSGD thousand 186,259183,456 PDF p. 39
Cost of salesSGD thousand (171,008)(153,089) PDF p. 39
Gross profitSGD thousand 15,25130,367 PDF p. 39
Other incomeSGD thousand 11,08414,532 PDF p. 39
Distribution and selling costsSGD thousand (785)(1,057) PDF p. 39
Administrative costsSGD thousand (5,203)(5,251) PDF p. 39
Finance costsSGD thousand (40)(6) PDF p. 39
Other operating costsSGD thousand (783)(988) PDF p. 39
Share of results of joint venturesSGD thousand 37161 PDF p. 39
Profi t before taxationSGD thousand 19,89537,658 PDF p. 39
Income tax expenseSGD thousand (2,632)(5,590) PDF p. 39
Profi t for the yearSGD thousand 17,26332,068 PDF p. 39
Equity holders of the CompanySGD thousand 17,01031,987 PDF p. 39
Non-controlling interestsSGD thousand 25381 PDF p. 39
Total profit attributable to equity holders and non-controlling interestsSGD thousand 17,26332,068 PDF p. 39
BasicSGD cents per share 3.326.25 PDF p. 39
DilutedSGD cents per share 3.326.25 PDF p. 39
Definitions & sources

Consolidated Statement of Comprehensive Income

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Consolidated Statement of Comprehensive Income from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Consolidated Statement of Comprehensive Income
Profi t for the yearSGD thousand 17,26332,068 PDF p. 40
Gain on fair value changes of financial assets at fair value through other comprehensive incomeSGD thousand 5821,002 PDF p. 40
Other comprehensive income for the year, net of taxSGD thousand 5821,002 PDF p. 40
Total comprehensive income for the yearSGD thousand 17,84533,070 PDF p. 40
Equity holders of the CompanySGD thousand 17,59232,989 PDF p. 40
Non-controlling interestsSGD thousand 25381 PDF p. 40
Total comprehensive income attributable to equity holders and non-controlling interestsSGD thousand 17,84533,070 PDF p. 40
Definitions & sources

Balance Sheets

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Balance Sheets from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Balance Sheets
Property, plant and equipmentSGD thousand 21,01219,514–– PDF p. 41
Investment propertiesSGD thousand 3,3403,300–– PDF p. 41
Investment in joint ventureSGD thousand 2,0983,752–– PDF p. 41
Investments in subsidiariesSGD thousand ––39,29438,294 PDF p. 41
Investment securitiesSGD thousand 20,44216,610–– PDF p. 41
Deferred tax assetsSGD thousand 9181,310–– PDF p. 41
TotalSGD thousand 47,81044,48639,29438,294 PDF p. 41
Contract assetsSGD thousand 88,70163,327–– PDF p. 41
Development propertiesSGD thousand 130,89451,002–– PDF p. 41
Trade receivablesSGD thousand 10,5649,401–– PDF p. 41
Other receivablesSGD thousand 8,8591,54359,10725,808 PDF p. 41
Amount due from joint venture partnersSGD thousand –57–– PDF p. 41
Prepayments and depositsSGD thousand 1,1198043616 PDF p. 41
Investment securitiesSGD thousand 23,34922,613–– PDF p. 41
Cash and short-term depositsSGD thousand 88,013159,30416,32754,886 PDF p. 41
TotalSGD thousand 351,499308,05175,47080,710 PDF p. 41
Trade and other payablesSGD thousand 49,97651,115361342 PDF p. 41
Contract liabilitiesSGD thousand –1,590–– PDF p. 41
Amount due to joint venture partnersSGD thousand 1––– PDF p. 41
ProvisionsSGD thousand 7,4499,131–– PDF p. 41
Provision for taxationSGD thousand 2,1544,464187217 PDF p. 41
Lease liabilitiesSGD thousand 368118–– PDF p. 41
TotalSGD thousand 59,94866,418548559 PDF p. 41
Net current assetsSGD thousand 291,551241,63374,92280,151 PDF p. 41
Deferred incomeSGD thousand 3462–– PDF p. 41
Other payablesSGD thousand 450861–– PDF p. 41
BorrowingsSGD thousand 44,095––– PDF p. 41
Lease liabilitiesSGD thousand 992293–– PDF p. 41
Deferred tax liabilitiesSGD thousand 884440–– PDF p. 41
TotalSGD thousand 46,4551,656–– PDF p. 41
Net assetsSGD thousand 292,906284,463114,216118,445 PDF p. 41
Share capitalSGD thousand 59,95459,95459,95459,954 PDF p. 41
Treasury sharesSGD thousand (193)–(193)– PDF p. 41
Capital reserveSGD thousand 1,0001,000–– PDF p. 41
Fair value adjustment reserveSGD thousand 1,359777–– PDF p. 41
Accumulated profitsSGD thousand 246,301238,50054,45558,491 PDF p. 41
Merger deficitSGD thousand (16,239)(16,239)–– PDF p. 41
Equity attributable to equity holders of the parentSGD thousand 292,182283,992114,216118,445 PDF p. 41
Non-controlling interestSGD thousand 724471–– PDF p. 41
Total equitySGD thousand 292,906284,463114,216118,445 PDF p. 41
Definitions & sources

Consolidated Cash Flow Statement

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Consolidated Cash Flow Statement from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Consolidated Cash Flow Statement
Profi t before taxationSGD thousand 19,89537,658 PDF p. 44
Depreciation of property, plant and equipmentSGD thousand 2,5452,289 PDF p. 44
Dividend income from investment securitiesSGD thousand (155)(151) PDF p. 44
Gain on fair value of investment propertySGD thousand (40)(100) PDF p. 44
Gain on disposal of property, plant and equipmentSGD thousand (471)(1,405) PDF p. 44
Gain on fair value of investment securitiesSGD thousand (1,316)(558) PDF p. 44
Interest incomeSGD thousand (4,432)(6,245) PDF p. 44
Interest expense on leaseSGD thousand 406 PDF p. 44
Share of results of joint venturesSGD thousand (371)(61) PDF p. 44
Unrealised gain on foreign exchangeSGD thousand 25(119) PDF p. 44
Operating cash flows before changes in working capitalSGD thousand 15,72031,314 PDF p. 44
Contract assetsSGD thousand (25,374)(13,569) PDF p. 44
Trade receivablesSGD thousand (1,163)7,857 PDF p. 44
Development propertiesSGD thousand (79,892)19,995 PDF p. 44
Other receivablesSGD thousand (6,804)1,478 PDF p. 44
Prepayments and depositsSGD thousand (315)(93) PDF p. 44
Trade and other payables and provisionsSGD thousand (3,231)(17,324) PDF p. 44
Contract liabilitiesSGD thousand (1,590)1,520 PDF p. 44
Deferred incomeSGD thousand (28)(27) PDF p. 44
Cash flows generated (used in)/from operationsSGD thousand (102,677)31,151 PDF p. 44
Interest received – loans and receivablesSGD thousand 2,6594,241 PDF p. 44
Income tax paidSGD thousand (4,105)(2,930) PDF p. 44
Net cash flows generated (used in)/from operating activitiesSGD thousand (104,123)32,462 PDF p. 44
Dividend income from investment securitiesSGD thousand 155151 PDF p. 44
Dividend income received from joint ventureSGD thousand 2,0252,228 PDF p. 44
Repayment from joint venture, netSGD thousand –8,143 PDF p. 44
Proceeds from disposal of property, plant and equipmentSGD thousand 6621,835 PDF p. 44
Proceeds from maturity/redemption of investment securitiesSGD thousand 3,0995,779 PDF p. 44
Purchases of property, plant and equipment (Note 9)SGD thousand (2,872)(3,306) PDF p. 44
Purchases of investment securitiesSGD thousand (5,769)(14,096) PDF p. 44
Interest received – investment securitiesSGD thousand 1,3171,247 PDF p. 44
Net cash flows generated (used in)/from investing activitiesSGD thousand (1,383)1,981 PDF p. 44
Dividends paid on ordinary sharesSGD thousand (9,209)(7,682) PDF p. 44
Purchase of treasury sharesSGD thousand (193)– PDF p. 44
Repayment of lease liabilitiesSGD thousand (453)(40) PDF p. 44
Proceeds from bank loansSGD thousand 44,095– PDF p. 44
Net cash flows from/(used in) financing activitiesSGD thousand 34,240(7,722) PDF p. 44
Net (decrease)/increase in cash and cash equivalentsSGD thousand (71,266)26,721 PDF p. 44
Effect of exchange rate changes on cash and cash equivalentsSGD thousand (25)119 PDF p. 44
Cash and cash equivalents at the beginning of yearSGD thousand 159,304132,464 PDF p. 44
Cash and cash equivalents at the end of year (Note 21)SGD thousand 88,013159,304 PDF p. 44
Definitions & sources

Statements of Changes in Equity — Group FY2025

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Statements of Changes in Equity — Group FY2025 from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025GroupShare capital2025GroupTreasury shares2025GroupCapital reserve2025GroupFair value adjustment reserve2025GroupAccumulated profits2025GroupMerger deficit2025GroupTotal reserves2025GroupNon-controlling interest2025GroupTotal equity Source
Statements of Changes in Equity — Group FY2025
At 1 January 2025SGD thousand 59,954–1,000777238,500(16,239)224,038471284,463 PDF p. 42
Profi t for the yearSGD thousand ––––17,010–17,01025317,263 PDF p. 42
Other comprehensive income Gain on fair value changes of financial assets at fair value through other comprehensive incomeSGD thousand –––582––582–582 PDF p. 42
Total other comprehensive incomeSGD thousand –––582––582–582 PDF p. 42
Total comprehensive income for the yearSGD thousand –––58217,010–17,59225317,845 PDF p. 42
Contributions and distributions to owners Dividends on ordinary shares (Note 32)SGD thousand ––––(9,209)–(9,209)–(9,209) PDF p. 42
Purchase of treasury sharesSGD thousand –(193)––––(193)–(193) PDF p. 42
Total transactions with owners in their capacity as ownersSGD thousand –(193)––(9,209)–(9,402)–(9,402) PDF p. 42
At 31 December 2025SGD thousand 59,954(193)1,0001,359246,301(16,239)232,228724292,906 PDF p. 42
Definitions & sources

Statements of Changes in Equity — Group FY2024

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Statements of Changes in Equity — Group FY2024 from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2024GroupShare capital2024GroupCapital reserve2024GroupFair value adjustment reserve2024GroupAccumulated profits2024GroupMerger deficit2024GroupTotal reserves2024GroupNon-controlling interest2024GroupTotal equity Source
Statements of Changes in Equity — Group FY2024
At 1 January 2024SGD thousand 59,9541,000(225)214,195(16,239)198,731390259,075 PDF p. 42
Profi t for the yearSGD thousand –––31,987–31,9878132,068 PDF p. 42
Other comprehensive income Gain on fair value changes of financial assets at fair value through other comprehensive incomeSGD thousand ––1,002––1,002–1,002 PDF p. 42
Total other comprehensive incomeSGD thousand ––1,002––1,002–1,002 PDF p. 42
Total comprehensive income for the yearSGD thousand ––1,00231,987–32,9898133,070 PDF p. 42
Contributions and distributions to owners Dividends on ordinary shares (Note 32)SGD thousand –––(7,682)–(7,682)–(7,682) PDF p. 42
Total transactions with owners in their capacity as ownersSGD thousand –––(7,682)–(7,682)–(7,682) PDF p. 42
At 31 December 2024SGD thousand 59,9541,000777238,500(16,239)224,038471284,463 PDF p. 42
Definitions & sources

Statements of Changes in Equity — Company FY2025

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Statements of Changes in Equity — Company FY2025 from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025CompanyShare capital2025CompanyTreasury shares2025CompanyAccumulated profits2025CompanyTotal equity Source
Statements of Changes in Equity — Company FY2025
At 1 January 2025SGD thousand 59,954–58,491118,445 PDF p. 43
Profi t, representing total comprehensive income, for the yearSGD thousand ––5,1735,173 PDF p. 43
Contributions by and distributions to owners Dividends on ordinary shares (Note 32)SGD thousand ––(9,209)(9,209) PDF p. 43
Purchase of treasury sharesSGD thousand –(193)–(193) PDF p. 43
Total transactions with owners in their capacity as ownersSGD thousand –(193)(9,209)(9,402) PDF p. 43
At 31 December 2025SGD thousand 59,954(193)54,455114,216 PDF p. 43
Definitions & sources

Statements of Changes in Equity — Company FY2024

5 metrics

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Statements of Changes in Equity — Company FY2024 from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2024CompanyShare capital2024CompanyAccumulated profits2024CompanyTotal equity Source
Statements of Changes in Equity — Company FY2024
At 1 January 2024SGD thousand 59,95458,196118,150 PDF p. 43
Profi t, representing total comprehensive income, for the yearSGD thousand –7,9777,977 PDF p. 43
Contributions by and distributions to owners Dividends on ordinary shares (Note 32)SGD thousand –(7,682)(7,682) PDF p. 43
Total transactions with owners in their capacity as ownersSGD thousand –(7,682)(7,682) PDF p. 43
At 31 December 2024SGD thousand 59,95458,491118,445 PDF p. 43
Definitions & sources

Ten-year financial highlights

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Ten-year financial highlights from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2016Group2017Group2018Group2019Group2020Group2021Group2022Group2023Group2024Group2025Group Source
Ten-year financial highlights
RevenueSGD million 118.1142.4197.8193.560.2168.6142.7202.0183.5186.3 PDF p. 6
Net profitSGD million 35.917.514.012.64.325.016.426.632.117.3 PDF p. 7
Basic earnings per shareSGD cents 7.03.42.72.50.84.93.25.26.33.3 PDF p. 6
Net tangible assets per shareSGD cents 48.039.540.039.539.844.546.350.655.657.1 PDF p. 6
Dividend per share — FY2025 proposed, subject to AGM approvalSGD cents 12.51.81.21.80.251.251.01.51.81.125 PDF p. 6
Definitions & sources

Ten-year financial position

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Ten-year financial position from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2016Group2017Group2018Group2019Group2020Group2021Group2022Group2023Group2024Group2025Group Source
Ten-year financial position
Current assetsSGD million 305.1272.7258.0235.0211.8251.6253.3290.0308.1351.5 PDF p. 7
Non-current assetsSGD million 64.663.784.789.080.891.091.751.044.547.8 PDF p. 7
Current liabilitiesSGD million 110.9123.9140.4115.487.9113.8106.481.366.460.0 PDF p. 7
Non-current liabilitiesSGD million 15.515.10.12.91.01.11.50.61.746.5 PDF p. 7
Non-controlling interestsSGD million ----0.1--0.20.40.50.7 PDF p. 7
Equity attributable to shareholdersSGD million 243.3197.4202.2205.7203.6227.7237.3258.7284.0292.2 PDF p. 7
Definitions & sources

Ten-year cash flow highlights

7 metrics

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Ten-year cash flow highlights from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2016Group2017Group2018Group2019Group2020Group2021Group2022Group2023Group2024Group2025Group Source
Ten-year cash flow highlights
Net cash from / used in operating activitiesSGD million 5.6-0.916.77.4-17.36.751.0-6.232.4-104.1 PDF p. 7
Net cash from / used in investing activitiesSGD million 56.3-8.6-41.9-3.35.82.0-3.434.32.0-1.4 PDF p. 7
Net cash from / used in financing activitiesSGD million -12.8-64.2-12.8-20.7-6.2-1.2-6.4-4.7-7.734.3 PDF p. 7
Net change in cash and cash equivalentsSGD million 49.1-73.9-38.0-16.6-17.77.541.223.426.7-71.3 PDF p. 7
Foreign exchange changesSGD million --0.20.30.3-0.20.30.10.20.10.0 PDF p. 7
Opening cash and cash equivalentsSGD million 156.9206.0132.194.477.659.767.5108.8132.5159.3 PDF p. 7
Closing cash and cash equivalentsSGD million 206.0132.194.477.659.767.5108.8132.5159.388.0 PDF p. 7
Definitions & sources

Earnings per share — underlying profit and weighted shares

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Earnings per share — underlying profit and weighted shares from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Earnings per share — underlying profit and weighted shares
Profit attributable to equity holders used for basic and diluted EPSSGD thousand 17,01031,987 PDF p. 64
Weighted average ordinary shares used for basic and diluted EPSThousand shares 511,731512,104 PDF p. 64
Definitions & sources

Cash and short-term deposits

3 metrics

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Cash and short-term deposits from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Cash and short-term deposits
Cash at banks and on handSGD thousand 27,25732,0982,6191,843 PDF p. 75
Short-term depositsSGD thousand 60,756127,20613,70853,043 PDF p. 75
Cash and cash equivalentsSGD thousand 88,013159,30416,32754,886 PDF p. 75
Definitions & sources

Dividends — paid and proposed amounts

2 metrics

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Dividends — paid and proposed amounts from Hock Lian Seng Holdings Limited Annual Report 2025
Metric / unit 2025Group and Company2024Group and Company Source
Dividends — paid and proposed amounts
Final dividends declared and paid during financial yearSGD thousand 9,2097,682 PDF p. 80
Proposed final dividends — subject to shareholder approval, not recognised as liabilitySGD thousand 5,7509,218 PDF p. 80
Definitions & sources

Where the money comes from

Segment information

By business

Segment information at 31 December 2025 (S$'000) 14 lines
Segment information at 31 December 2025 (S$'000)
Item / unit 2025Civil engineering2025Properties development2025Properties investment2025Adjustments2025Per consolidated financial statements Source
Revenue
External customers, representing total revenueS$'000 163,78522,281193–186,259 PDF p. 96
Results
DepreciationS$'000 2,545–––2,545 PDF p. 96
Dividend income from investment securitiesS$'000 –––155155 PDF p. 96
Gain on disposal of property, plant and equipmentS$'000 471–––471 PDF p. 96
Gain on fair value of investment propertyS$'000 –––4040 PDF p. 96
Gain on fair value of investment securities - netS$'000 –––1,3161,316 PDF p. 96
Interest incomeS$'000 –––4,4324,432 PDF p. 96
Unrealised loss on foreign exchangeS$'000 –––2525 PDF p. 96
Share of results of joint ventureS$'000 –371––371 PDF p. 96
Segment profitS$'000 5,81912,440611,57519,895 PDF p. 96
Assets
Investment in joint ventureS$'000 –2,098––2,098 PDF p. 96
Additions to non-current assetsS$'000 4,234–––4,234 PDF p. 96
Segment assetsS$'000 208,105142,9943,50144,709399,309 PDF p. 96
Liabilities
Segment liabilitiesS$'000 57,45447,92952968106,403 PDF p. 96
Notes

Notes column letters A, B, C, D refer to adjustment notes on page 98 (A: added to/(deducted from) segment profit to arrive at Profit before taxation; B: additions to non-current assets consist of additions to property, plant and equipment; C: items added to segment assets; D: items added to segment liabilities).

Corporate overheads, taxes and investment securities are managed on a group basis and are not allocated to operating segments.

Segment information at 31 December 2024 (S$'000) 14 lines
Segment information at 31 December 2024 (S$'000)
Item / unit 2024Civil engineering2024Properties development2024Properties investment2024Adjustments2024Per consolidated financial statements Source
Revenue
External customers, representing total revenueS$'000 150,16433,110182–183,456 PDF p. 97
Results
DepreciationS$'000 2,289–––2,289 PDF p. 97
Dividend income from investment securitiesS$'000 –––151151 PDF p. 97
Gain on disposal of property, plant and equipmentS$'000 1,405–––1,405 PDF p. 97
Gain on fair value of investment propertyS$'000 –––100100 PDF p. 97
Gain on fair value of investment securities - netS$'000 –––558558 PDF p. 97
Interest incomeS$'000 –13–6,2326,245 PDF p. 97
Share of results of joint ventureS$'000 –61––61 PDF p. 97
Unrealised gain on foreign exchangeS$'000 –––119119 PDF p. 97
Segment profitS$'000 17,09616,449614,05237,658 PDF p. 97
Assets
Investment in joint ventureS$'000 –3,752––3,752 PDF p. 97
Additions to non-current assetsS$'000 3,666–––3,666 PDF p. 97
Segment assetsS$'000 249,94456,9883,72241,883352,537 PDF p. 97
Liabilities
Segment liabilitiesS$'000 62,2655,4245832768,074 PDF p. 97
Notes

Notes column letters A, B, C, D refer to adjustment notes on page 98.

Corporate overheads, taxes and investment securities are managed on a group basis and are not allocated to operating segments.

Adjustment A: items added to/(deducted from) segment profit to arrive at Profit before taxation 3 lines
Adjustment A: items added to/(deducted from) segment profit to arrive at Profit before taxation
Item / unit 2025Group2024Group Source
Adjustment A
Other incomeS$'000 6,8039,303 PDF p. 98
Corporate overheadsS$'000 (5,204)(5,251) PDF p. 98
Other operating costsS$'000 (24)– PDF p. 98
Notes

Total of adjustment A: 1,575 (2025), 4,052 (2024), printed without a label.

Adjustment C: items added to segment assets to arrive at total assets 3 lines
Adjustment C: items added to segment assets to arrive at total assets
Item / unit 2025Group2024Group Source
Adjustment C
Investment in joint ventureS$'000 –1,350 PDF p. 98
Investment securitiesS$'000 43,79139,223 PDF p. 98
Deferred tax assetsS$'000 9181,310 PDF p. 98
Notes

Total of adjustment C: 44,709 (2025), 41,883 (2024), printed without a label.

Adjustment D: items added to segment liabilities to arrive at total liabilities 2 lines
Adjustment D: items added to segment liabilities to arrive at total liabilities
Item / unit 2025Group2024Group Source
Adjustment D
Provision for taxationS$'000 96– PDF p. 98
Other payablesS$'000 872327 PDF p. 98
Notes

Total of adjustment D: 968 (2025), 327 (2024), printed without a label.

Geographical information: The Group derives all of its revenues from external customers based in Singapore and its non-current assets are solely located in Singapore for the years ended 31 December 2025 and 2024. No geographic table is printed.

Major customer: revenue from a major customer from the construction segment amounted to S$124,711,000 (2024: S$126,008,000).

Debt

Borrowings

Note 35(d) Maturity profile of contractual undiscounted financial liabilities - Group

Note 35(d) Maturity profile of contractual undiscounted financial liabilities - Group — Group
Item / unit 2025One year or less, S$'0002025One to five years, S$'0002025Over five years, S$'0002025Total, S$'0002024One year or less, S$'0002024One to five years, S$'0002024Over five years, S$'0002024Total, S$'000 Source
Financial liabilities
BorrowingsS$'000 (934)(47,220)–(48,154) PDF p. 86
Lease liabilitiesS$'000 (368)(2,416)–(2,784)(136)(315)–(451) PDF p. 86PDF p. 87
Notes

Based on contractual undiscounted repayment obligations.

No borrowings line printed for 2024.

Borrowing notes 3 tables

Borrowings

Borrowings — Group
Item / unit 2025S$'0002024S$'000 Source
Non-current
Secured loan, denominated in SGDS$'000 44,095– PDF p. 77
Notes

Nominal interest rate: SORA + Margin; maturity 2030.

The bank loan bears interest at 1-month Singapore Overnight Rate Average (“SORA”) plus a margin, with effective interest rates ranging from 1.85% to 2.57% per annum.

The bank loan is secured by: (i) a first legal mortgage over a subsidiary’s leasehold land (Note 16); and (ii) corporate guarantee by the Company (Note 34).

Covenants: security margin ratio of not more than 70% of the project’s security value and meeting specified project milestones; Group complied.

Note 23(b) Reconciliation of liabilities from financing activities (lease liabilities and borrowings), 2025

Note 23(b) Reconciliation of liabilities from financing activities (lease liabilities and borrowings), 2025
Item / unit 2024Opening balance, S$'0002025Cash flows, S$'0002025Non-cash additions, S$'0002025Non-cash accretion of interest, S$'0002025Closing balance, S$'000 Source
Lease liabilities
Lease liabilities - CurrentS$'000 118(453)66340368 PDF p. 76
Lease liabilities - Non-currentS$'000 293–699–992 PDF p. 76
Financing liabilities
Borrowings (Note 24)S$'000 –44,095––44,095 PDF p. 76
TotalS$'000 41143,6421,3624045,455 PDF p. 76
Notes

Columns printed as 2024, Cash flows, Additions, Accretion of interest, 2025.

Note 23(b) Reconciliation of lease liabilities, 2024

Note 23(b) Reconciliation of lease liabilities, 2024
Item / unit 2023Opening balance, S$'0002024Cash flows, S$'0002024Non-cash additions, S$'0002024Non-cash accretion of interest, S$'0002024Closing balance, S$'000 Source
Lease liabilities
Lease liabilities - CurrentS$'000 20(40)1326118 PDF p. 76
Lease liabilities - Non-currentS$'000 65–228–293 PDF p. 76
TotalS$'000 85(40)3606411 PDF p. 76

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividend Policy The dividend that the Board may recommend in respect of each financial year is subject to various factors such as the level of available cash, financial performance and projected capital expenditures and investment plans. Over the past five years, annual dividends paid out by the Group (excluding special dividends) was about 30% of the Group’s net profit after tax. Subject to the shareholders’ approval, the Company pays the final dividend(s) to all its shareholders within 30 days after the AGM. Group PDF p. 29

Dividends declared and proposed

ItemValuePeriod / scopeSource
Final tax-exempt (one-tier) dividends for 2025 1.125 Singapore cents per share Proposed for FY2025, subject to shareholders' approval at AGM; Group and Company PDF p. 100
Final tax-exempt (one-tier) dividends for 2025: S$0.01125 (2024: S$0.018) S$0.01125 Proposed but not recognised as a liability at 31 December 2025, Group and Company; FY2025 vs comparative 2024 S$0.018 · As at 2025-12-31 PDF p. 80
Final tax-exempt (one-tier) dividend for 2025:S$0.018 (2024: S$0.015) S$0.018 Declared and paid during FY2025 (in respect of FY2024), Group and Company; comparative paid in 2024 S$0.015 PDF p. 80

Payout

ItemValuePeriod / scopeSource
Dividend per share (Cents) 1.125 cents per share FY2025; comparative FY2024 1.8 PDF p. 6
annual dividends paid out by the Group (excluding special dividends) about 30% of the Group’s net profit after tax Group, past five years average (excluding special dividends) PDF p. 29

Extracted from Hock Lian Seng Holdings Limited Annual Report 2025 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 Ernst & Young LLP Group PDF p. 38
Engagement partner Ang Chuen Beng Group PDF p. 38
Opinion In our opinion, the accompanying consolidated financial statements of the Group, the balance sheet and the statement of changes in equity of the Company are properly drawn up in accordance with the provisions of the Companies Act 1967 (the Act) and Singapore Financial Reporting Standards (International) (SFRS(I)) so as to give a true and fair view Group and Company PDF p. 34

Key audit matters

ItemValuePeriod / scopeSource
Revenue recognition from civil engineering construction projects Accordingly, revenue recognition from civil engineering construction projects is identified as a key audit matter. Group PDF p. 34
Provision for maintenance and warranties for civil engineering construction projects Given its magnitude and the significant judgement and estimate involved in management’s assessment, the provision for maintenance and warranties is identified as a key audit matter in our audit. Group PDF p. 35
Carrying value of development properties Accordingly, we have identified this to be a key audit matter. Group PDF p. 36

Extracted from Hock Lian Seng Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow Hock Lian Seng Holdings Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Statements are in SGD thousand; historical highlights are in SGD million and per-share figures in SGD cents. Group equity reserves exclude share capital. The 2024 equity tables do not disclose a separate treasury-share column.

The report provides FY2016–FY2025 comparisons. FY2016 dividend of 12.5 cents includes a 10-cent special dividend. FY2025 proposed dividend of 1.125 cents is subject to AGM approval on 23 April 2026. Paid dividends differ from proposed dividends, which are not recognised as a liability. The cash flow highlights report FY2024 operating cash flow of 32.4 million and FY2025 financing cash flow of 34.3 million; the statements report 32,462 thousand and 34,240 thousand respectively. Both original presentations are retained.

Note 8 discloses no potential dilutive ordinary shares. The SGD 44,095 thousand secured bank loan matures in 2030 and bears one-month SORA plus a margin, with an effective rate of 1.85%–2.57%. It is secured by subsidiary leasehold land and a Company guarantee. Subsidiaries, the equity-method joint venture and joint operations follow the classifications in Notes 11–13.

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