2025/2026 ANNUAL REPORT MTQ CORPORATION LIMITED
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Continuing operations | |||
| RevenueS$'000 | 49,857 | 63,277 | PDF p. 42 |
| Cost of salesS$'000 | (37,123) | (41,826) | PDF p. 42 |
| Gross profitS$'000 | 12,734 | 21,451 | PDF p. 42 |
| Other incomeS$'000 | 1,050 | 843 | PDF p. 42 |
| Staff costsS$'000 | (7,134) | (8,523) | PDF p. 42 |
| Other operating expensesS$'000 | (12,563) | (9,059) | PDF p. 42 |
| (Loss)/profit from operating activitiesS$'000 | (5,913) | 4,712 | PDF p. 42 |
| Finance costsS$'000 | (1,645) | (1,080) | PDF p. 42 |
| (Loss)/profit before tax from continuing operationsS$'000 | (7,558) | 3,632 | PDF p. 42 |
| Tax credit/(expense)S$'000 | 217 | (138) | PDF p. 42 |
| (Loss)/profit from continuing operations, net of taxS$'000 | (7,341) | 3,494 | PDF p. 42 |
| Discontinued operations | |||
| Profit from discontinued operations, net of taxS$'000 | 841 | 1,345 | PDF p. 42 |
| (Loss)/profit for the yearS$'000 | (6,500) | 4,839 | PDF p. 42 |
| Other comprehensive income | |||
| Exchange difference on translation of subsidiariesS$'000 | (2,360) | (35) | PDF p. 42 |
| Net change in fair value of other investmentS$'000 | – | 306 | PDF p. 42 |
| Other comprehensive (loss)/income for the year, net of taxS$'000 | (2,360) | 271 | PDF p. 42 |
| Total comprehensive (loss)/income for the yearS$'000 | (8,860) | 5,110 | PDF p. 42 |
| Attributable to Owners of the Company | |||
| (Loss)/profit for the year attributable to Owners of the CompanyS$'000 | (6,500) | 4,839 | PDF p. 42 |
| Basic and diluted (loss)/earnings per share | |||
| From continuing operationscents per share | (3.30) | 1.55 | PDF p. 42 |
| From discontinued operationscents per share | 0.38 | 0.60 | PDF p. 42 |
| Total (loss)/earnings per sharecents per share | (2.92) | 2.15 | PDF p. 42 |
Original report: PDF p. 42 ↗
For the financial year ended 31 March 2026. Basic and diluted EPS in cents per share.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current assets | |||||
| GoodwillS$'000 | – | 3,032 | – | – | PDF p. 43 |
| Intangible assetsS$'000 | 232 | 261 | – | – | PDF p. 43 |
| Investment propertyS$'000 | – | – | 5,977 | 6,347 | PDF p. 43 |
| Property, plant and equipmentS$'000 | 58,522 | 58,391 | 121 | 118 | PDF p. 43 |
| Right-of-use assetsS$'000 | 18,020 | 19,005 | 11,652 | 12,370 | PDF p. 43 |
| Interests in subsidiariesS$'000 | – | – | 61,089 | 51,873 | PDF p. 43 |
| Other investmentS$'000 | – | – | – | – | PDF p. 43 |
| ReceivablesS$'000 | – | – | 646 | 2,237 | PDF p. 43 |
| PrepaymentsS$'000 | 189 | 11 | 26 | 11 | PDF p. 43 |
| Deferred tax assetsS$'000 | – | 32 | – | – | PDF p. 43 |
| SubtotalS$'000 | 76,963 | 80,732 | 79,511 | 73,070 | PDF p. 43 |
| Current assets | |||||
| InventoriesS$'000 | 16,785 | 17,052 | – | – | PDF p. 43 |
| Trade and other receivablesS$'000 | 22,650 | 22,232 | 11,249 | 7,102 | PDF p. 43 |
| Cash and cash equivalentsS$'000 | 5,290 | 7,666 | 324 | 741 | PDF p. 43 |
| SubtotalS$'000 | 47,633 | 48,488 | 11,665 | 8,194 | PDF p. 43 |
| Assets | |||||
| Total assetsS$'000 | 124,596 | 135,463 | 91,176 | 81,264 | PDF p. 43 |
| Current liabilities | |||||
| Trade and other payablesS$'000 | 14,196 | 16,387 | 1,377 | 1,830 | PDF p. 43 |
| Lease liabilitiesS$'000 | 899 | 694 | 512 | 493 | PDF p. 43 |
| Bank borrowingsS$'000 | 7,328 | 387 | 480 | – | PDF p. 43 |
| Provision for taxationS$'000 | 58 | 45 | 14 | – | PDF p. 43 |
| SubtotalS$'000 | 22,481 | 17,513 | 2,383 | 2,323 | PDF p. 43 |
| Net current assetsS$'000 | 25,152 | 35,770 | 9,282 | 5,871 | PDF p. 43 |
Original report: PDF p. 43 ↗
As at 31 March 2026. Subtotal rows are unlabelled in the source.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current liabilities | |||||
| Trade and other payablesS$'000 | – | – | 5,303 | 5,303 | PDF p. 44 |
| Lease liabilitiesS$'000 | 17,643 | 18,735 | 10,449 | 10,954 | PDF p. 44 |
| Bank borrowingsS$'000 | 13,164 | 16,144 | 8,164 | 2,144 | PDF p. 44 |
| Deferred tax liabilitiesS$'000 | 366 | 414 | 205 | 237 | PDF p. 44 |
| SubtotalS$'000 | 31,173 | 35,293 | 24,121 | 18,638 | PDF p. 44 |
| Liabilities | |||||
| Total liabilitiesS$'000 | 53,654 | 54,254 | 26,504 | 20,961 | PDF p. 44 |
| Net assets | |||||
| Net assetsS$'000 | 70,942 | 81,209 | 64,672 | 60,303 | PDF p. 44 |
| Equity attributable to Owners of the Company | |||||
| Share capitalS$'000 | 50,836 | 50,836 | 50,836 | 50,836 | PDF p. 44 |
| Treasury sharesS$'000 | (759) | (463) | (759) | (463) | PDF p. 44 |
| ReservesS$'000 | 20,865 | 30,836 | 14,595 | 9,930 | PDF p. 44 |
| Shareholders’ fund and total equityS$'000 | 70,942 | 81,209 | 64,672 | 60,303 | PDF p. 44 |
Original report: PDF p. 44 ↗
As at 31 March 2026. Subtotal rows are unlabelled in the source.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, S$'000 | 2025Group, S$'000 | Source |
|---|---|---|---|
| Other comprehensive income - items that may be reclassified | |||
| Exchange difference on translation of subsidiariesS$'000 | (2,360) | (35) | PDF p. 42 |
| Other comprehensive income - items not reclassified | |||
| Net change in fair value of other investmentS$'000 | – | 306 | PDF p. 42 |
| Other comprehensive income | |||
| Other comprehensive (loss)/income for the year, net of taxS$'000 | (2,360) | 271 | PDF p. 42 |
| Profit for the year | |||
| (Loss)/profit for the yearS$'000 | (6,500) | 4,839 | PDF p. 42 |
| Total comprehensive income | |||
| Total comprehensive (loss)/income for the yearS$'000 | (8,860) | 5,110 | PDF p. 42 |
| Total comprehensive income attributable to Owners of the Company | |||
| (Loss)/profit from continuing operations, net of taxS$'000 | (9,701) | 3,765 | PDF p. 42 |
| Profit from discontinued operations, net of taxS$'000 | 841 | 1,345 | PDF p. 42 |
Original report: PDF p. 42 ↗
For the financial year ended 31 March 2026. Basic and diluted EPS in cents per share. No Company-level comprehensive income statement printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, S$'000 | 2025Group, S$'000 | Source |
|---|---|---|---|
| Operating activities | |||
| (Loss)/profit before tax from continuing operationsS$'000 | (7,558) | 3,632 | PDF p. 46 |
| Profit before tax from discontinued operationsS$'000 | 841 | 1,584 | PDF p. 46 |
| Operating activities - adjustments | |||
| Amortization of intangible assetsS$'000 | 161 | 216 | PDF p. 46 |
| Depreciation of property, plant and equipmentS$'000 | 3,948 | 3,026 | PDF p. 46 |
| Depreciation of right-of-use assetsS$'000 | 1,214 | 1,264 | PDF p. 46 |
| (Gain)/loss on disposal of property, plant and equipment, netS$'000 | (133) | 78 | PDF p. 46 |
| Gain on disposal of assets held for sale and liabilities directly associated with the assets held for sale, net of transaction costsS$'000 | (841) | – | PDF p. 46 |
| Impairment loss on goodwillS$'000 | 3,022 | – | PDF p. 46 |
| Allowance for impairment of sundry receivablesS$'000 | 154 | – | PDF p. 46 |
| Bad debts written-offS$'000 | 3 | – | PDF p. 46 |
| Allowance for inventory obsolescence and stock written-off, netS$'000 | 596 | 192 | PDF p. 46 |
| Interest incomeS$'000 | – | (5) | PDF p. 46 |
| Interest expenseS$'000 | 1,645 | 1,088 | PDF p. 46 |
| Operating activities | |||
| Operating cash flows before changes in working capitalS$'000 | 3,052 | 11,075 | PDF p. 46 |
| (Increase)/decrease in receivables and prepaymentsS$'000 | (1,265) | 547 | PDF p. 46 |
| Increase in inventories and work-in-progressS$'000 | (840) | (120) | PDF p. 46 |
| Increase/(decrease) in payablesS$'000 | 254 | (901) | PDF p. 46 |
| OthersS$'000 | 53 | (140) | PDF p. 46 |
| Cash generated from operationsS$'000 | 1,254 | 10,461 | PDF p. 46 |
| Interest income receivedS$'000 | – | 5 | PDF p. 46 |
| Interest expense paidS$'000 | (1,696) | (1,173) | PDF p. 46 |
| Income taxes received/(paid), netS$'000 | 385 | (961) | PDF p. 46 |
| Net cash (used in)/generated from operating activitiesS$'000 | (57) | 8,332 | PDF p. 46 |
| Investing activities | |||
| Purchase of property, plant and equipmentS$'000 | (9,061) | (20,370) | PDF p. 46 |
| Addition of intangible assetsS$'000 | (139) | (207) | PDF p. 46 |
| Indirect costs of obtaining a leaseS$'000 | – | (201) | PDF p. 46 |
| Proceeds from sale of quoted investments, net of brokerageS$'000 | – | 9,209 | PDF p. 46 |
| Proceeds from disposal of property, plant and equipmentS$'000 | 133 | 1 | PDF p. 46 |
| Proceeds from disposal of assets held for sale and liabilities directly associated with the assets held for sale, net of cash disposed and transaction costsS$'000 | 4,685 | – | PDF p. 46 |
| Loans repaid by staffS$'000 | – | 20 | PDF p. 46 |
| Deposit received on disposal of a subsidiaryS$'000 | 120 | – | PDF p. 46 |
| Net cash used in investing activitiesS$'000 | (4,262) | (11,548) | PDF p. 46 |
| Financing activities | |||
| Share buy-backS$'000 | (296) | (422) | PDF p. 47 |
| Dividend paid in respect of previous financial year, tax exempt (one-tier)S$'000 | (1,111) | (1,124) | PDF p. 47 |
| Dividend paid in respect of current financial year, tax exempt (one-tier)S$'000 | – | (1,125) | PDF p. 47 |
| Proceeds from bank borrowingsS$'000 | 14,982 | 16,143 | PDF p. 47 |
| Repayment of bank borrowingsS$'000 | (10,948) | (13,471) | PDF p. 47 |
| Repayment of principal portion of lease liabilitiesS$'000 | (928) | (999) | PDF p. 47 |
| Net cash generated from/(used in) financing activitiesS$'000 | 1,699 | (998) | PDF p. 47 |
| Net change in cash | |||
| Net decrease in cash and cash equivalentsS$'000 | (2,620) | (4,214) | PDF p. 47 |
| Cash and cash equivalents at 1 AprilS$'000 | 8,040 | 12,291 | PDF p. 47 |
| Effect of exchange rate changes on cash and cash equivalentsS$'000 | (130) | (37) | PDF p. 47 |
| Cash and cash equivalents at 31 MarchS$'000 | 5,290 | 8,040 | PDF p. 47 |
| Cash and cash equivalents at 31 March | |||
| Classified as cash and cash equivalentsS$'000 | 5,290 | 7,666 | PDF p. 47 |
| Classified within assets of a disposal group classified as held for saleS$'000 | – | 374 | PDF p. 47 |
Original report: PDF p. 46 ↗ PDF p. 47 ↗
For the financial year ended 31 March 2026. Continues on page 47. No Company cash flow statement printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, Share capital, S$'000 | 2026Group, Treasury shares, S$'000 | 2026Group, Foreign currency translation reserve, S$'000 | 2026Group, Retained earnings, S$'000 | 2026Group, Other reserves, S$'000 | 2026Group, Total equity, S$'000 | Source |
|---|---|---|---|---|---|---|---|
| FY2026 | |||||||
| Balance as at 1 April 2025S$'000 | 50,836 | (463) | (1,655) | 28,195 | 4,296 | 81,209 | PDF p. 45 |
| Loss for the year, net of taxS$'000 | – | – | – | (6,500) | – | (6,500) | PDF p. 45 |
| Exchange difference on translation of subsidiariesS$'000 | – | – | (2,360) | – | – | (2,360) | PDF p. 45 |
| Total comprehensive loss for the yearS$'000 | – | – | (2,360) | (6,500) | – | (8,860) | PDF p. 45 |
| Dividend paid in respect of previous financial year, tax exempt (one-tier)S$'000 | – | – | – | (1,111) | – | (1,111) | PDF p. 45 |
| Share buy-backS$'000 | – | (296) | – | – | – | (296) | PDF p. 45 |
| Total distributions to OwnersS$'000 | – | (296) | – | (1,111) | – | (1,407) | PDF p. 45 |
| Balance as at 31 March 2026S$'000 | 50,836 | (759) | (4,015) | 20,584 | 4,296 | 70,942 | PDF p. 45 |
Original report: PDF p. 45 ↗
Columns in order: Share capital, Treasury shares, Foreign currency translation reserve, Retained earnings, Other reserves, Total equity. No non-controlling interests column printed. No separate Company statement of changes in equity printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital, S$'000 | 2025Group, Treasury shares, S$'000 | 2025Group, Foreign currency translation reserve, S$'000 | 2025Group, Retained earnings, S$'000 | 2025Group, Other reserves, S$'000 | 2025Group, Total equity, S$'000 | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | |||||||
| Balance as at 1 April 2024S$'000 | 50,836 | (41) | (1,620) | 25,605 | 3,990 | 78,770 | PDF p. 45 |
| Profit for the year, net of taxS$'000 | – | – | – | 4,839 | – | 4,839 | PDF p. 45 |
| Exchange difference on translation of subsidiariesS$'000 | – | – | (35) | – | – | (35) | PDF p. 45 |
| Net change in fair value of other investmentS$'000 | – | – | – | – | 306 | 306 | PDF p. 45 |
| Total comprehensive (loss)/income for the yearS$'000 | – | – | (35) | 4,839 | 306 | 5,110 | PDF p. 45 |
| Dividend paid in respect of previous financial year, tax exempt (one-tier)S$'000 | – | – | – | (1,124) | – | (1,124) | PDF p. 45 |
| Dividend paid in respect of current financial year, tax exempt (one-tier)S$'000 | – | – | – | (1,125) | – | (1,125) | PDF p. 45 |
| Share buy-backS$'000 | – | (422) | – | – | – | (422) | PDF p. 45 |
| Total distributions to OwnersS$'000 | – | (422) | – | (2,249) | – | (2,671) | PDF p. 45 |
| Balance as at 31 March 2025S$'000 | 50,836 | (463) | (1,655) | 28,195 | 4,296 | 81,209 | PDF p. 45 |
Original report: PDF p. 45 ↗
Comparative period; columns as in FY2026 table. No non-controlling interests column printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY ended 31 March 2026 | 2025Group, FY2025 | 2024Group, FY2024 | 2023Group, FY2023 | 2022Group, FY2022 | Source |
|---|---|---|---|---|---|---|
| For the year (in S$'000) | ||||||
| RevenueS$'000 | 49,857 | 63,277 | 66,966 | 74,733 | 41,352 | PDF p. 8 |
| EBITDAS$'000 | 4,023 | 10,997 | 10,184 | 12,252 | 5,707 | PDF p. 8 |
| (Loss) / Profit before taxS$'000 | (3,786) | 3,824 | 3,927 | 5,411 | 93 | PDF p. 8 |
| (Loss) / Profit after taxS$'000 | (3,569) | 3,686 | 3,151 | 5,219 | 66 | PDF p. 8 |
| (Loss) / Profit attributable to owners of the CompanyS$'000 | (2,728) | 5,031 | 3,062 | 5,834 | 1,277 | PDF p. 8 |
| At year end (in S$'000) | ||||||
| Net current assetsS$'000 | 25,152 | 35,770 | 42,034 | 37,701 | 28,557 | PDF p. 8 |
| Total assetsS$'000 | 124,596 | 135,463 | 128,337 | 124,789 | 102,599 | PDF p. 8 |
| Total liabilitiesS$'000 | 53,654 | 54,254 | 49,567 | 61,748 | 45,350 | PDF p. 8 |
| Shareholders' fundsS$'000 | 70,942 | 81,209 | 78,770 | 63,041 | 57,385 | PDF p. 8 |
| Net tangible assetsS$'000 | 70,710 | 77,916 | 75,524 | 59,835 | 54,202 | PDF p. 8 |
| Financial ratios | ||||||
| Return on shareholders' funds (%)% | (3.85) | 6.20 | 3.89 | 9.25 | 2.23 | PDF p. 8 |
| Interest cover (EBITDA / Net interest expense)times | 2.45 | 10.15 | 5.49 | 6.99 | 6.87 | PDF p. 8 |
| Net debt gearing ratio (%)% | 17.65 | 9.84 | 1.96 | 9.54 | 3.74 | PDF p. 8 |
| Per share data | ||||||
| Basic (loss) / earnings (in Singapore cents)Singapore cents | (1.23) | 2.24 | 1.36 | 2.70 | 0.59 | PDF p. 8 |
| Net tangible assets (in Singapore cents)Singapore cents | 31.84 | 34.90 | 33.59 | 27.30 | 25.07 | PDF p. 8 |
| Net asset value (in Singapore cents)Singapore cents | 31.94 | 36.38 | 35.03 | 28.76 | 26.55 | PDF p. 8 |
| Dividend per share, paid or proposed in respect of the financial year (in Singapore cents)Singapore cents | - | 1.00 | 1.00 | 0.50 | 0.50 | PDF p. 8 |
| Dividend payout ratio (%)% | N/A | 44.64 | 73.53 | 18.52 | 84.75 | PDF p. 8 |
Original report: PDF p. 8 ↗
1 Excluding discontinued operations' statistic.
2 Excluding non-cash impairment losses (including goodwill), allowances for impairment of sundry receivables, inventory obsolescence and write-offs as well as gain/loss from liquidation of subsidiaries.
3 Net debt is defined as the aggregate of bank borrowings, less cash and cash equivalents (see note 39 of the financial statements).
4 Net tangible assets is defined as shareholders' funds less intangible assets and goodwill.
5 Return on shareholders' funds is defined as (loss)/profit attributable to owners of the Company divided by shareholders' funds.
6 Net interest expense refers to interest expense less interest income.
7 Net debt gearing is defined as the ratio of net debt to net capitalization. Net capitalization is the aggregate of net debt and total equity.
8 Basic (loss)/earnings per share is defined as (loss)/profit attributable to owners of the Company divided by weighted average number of issued shares.
9 Net tangible assets per share is defined as net tangible assets divided by total number of issued shares excluding treasury shares.
10 Net asset value is defined as shareholders' funds divided by total number of issued shares excluding treasury shares.
11 Dividend payout ratio is defined as dividend per share paid/payable in respect of the financial year divided by the basic earnings per share.
12 Excluding one-off gain on disposal of Pandan Property amounting to S$6,367,000 in FY2024.
Dividend per share for 2026 printed as '-'; dividend payout ratio 2026 printed as 'N/A'.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, cents per share | 2025Group, cents per share | Source |
|---|---|---|---|
| Basic and diluted (loss)/earnings per share | |||
| From continuing operationscents per share | (3.30) | 1.55 | PDF p. 42 |
| From discontinued operationscents per share | 0.38 | 0.60 | PDF p. 42 |
| Total (loss)/earnings per sharecents per share | (2.92) | 2.15 | PDF p. 42 |
Original report: PDF p. 42 ↗
Basic and diluted EPS; Note references 9.1, 10, 9.2.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| EPS computation | |||
| (Loss)/profit for the year attributable to Owners of the CompanyS$'000 | (6,500) | 4,839 | PDF p. 65 |
| Profit from discontinued operations, net of tax, attributable to Owners of the CompanyS$'000 | (841) | (1,345) | PDF p. 65 |
| Number of shares | |||
| Weighted average number of ordinary shares for basic and diluted earnings per share computation#'000 shares | 222,203 | 224,731 | PDF p. 65 |
Original report: PDF p. 65 ↗
# The weighted average number of shares took into account the weighted average effect of 1,135,000 (2025: 1,629,000) ordinary shares that the Company bought back (Note 29.2).
Share counts in '000.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Discontinued EPS | |||
| Profit from discontinued operations attributable to Owners of the Company (S$’000)S$'000 | 841 | 1,345 | PDF p. 67 |
| Basic and diluted earnings per share (cents per share)cents per share | 0.38 | 0.60 | PDF p. 67 |
Original report: PDF p. 67 ↗
Weighted average shares presented in Note 9.1.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group and Company | 2025Group and Company | Source |
|---|---|---|---|
| Paid during the financial year | |||
| Final tax exempt (one-tier) dividend for 2025: 0.5 cents (2024: 0.5 cents) per shareS$'000 | 1,111 | 1,124 | PDF p. 97 |
Original report: PDF p. 97 ↗
The final dividends proposed but not recognized as a liability as at 31 March 2025 were estimated based on the Proposed Final Dividend of 0.5 Singapore cents per ordinary share and the total outstanding number of shares (excluding treasury shares) as at 12 June 2025.
Per-share amounts in text: final 2025 dividend 0.5 cents (2024: 0.5 cents); interim 2026 Nil cents (2025: 0.5 cents); proposed final 2026 Nil cents (2025: 0.5 cents).
Where the money comes from
| Item / unit | 2026Investment holding (continuing operations) | 2026Oilfield engineering (continuing operations) | 2026Eliminations | 2026Continuing operations Subtotal | 2026Discontinued operations | 2026Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| External salesS$'000 | – | 49,857 | – | 49,857 | – | 49,857 | PDF p. 99 |
| Inter-segment salesS$'000 | 6,245 | 4,426 | (10,671) | – | – | – | PDF p. 99 |
| Total salesS$'000 | 6,245 | 54,283 | (10,671) | 49,857 | – | 49,857 | PDF p. 99 |
| Results | |||||||
| Rental incomeS$'000 | 577 | 128 | – | 705 | – | 705 | PDF p. 99 |
| Depreciation and amortizationS$'000 | (1,486) | (3,837) | – | (5,323) | – | (5,323) | PDF p. 99 |
| Gain on disposal of property,S$'000 | – | 133 | – | 133 | – | 133 | PDF p. 99 |
| Gain on disposal of assets held forS$'000 | – | – | – | – | 841 | 841 | PDF p. 99 |
| Impairment loss on goodwillS$'000 | – | (3,022) | – | (3,022) | – | (3,022) | PDF p. 99 |
| Allowance for inventory obsolescenceS$'000 | – | (596) | – | (596) | – | (596) | PDF p. 99 |
| Allowance for impairment of sundryS$'000 | (154) | – | – | (154) | – | (154) | PDF p. 99 |
| Bad debts written-offS$'000 | – | (3) | – | (3) | – | (3) | PDF p. 99 |
| Finance costsS$'000 | (529) | (1,116) | – | (1,645) | – | (1,645) | PDF p. 99 |
| Segment (loss)/profit before taxS$'000 | (6,576) | (982) | – | (7,558) | 841 | (6,717) | PDF p. 99 |
| Tax credit/(expense)S$'000 | 299 | (82) | – | 217 | – | 217 | PDF p. 99 |
| Assets and liabilities | |||||||
| Additions to non-current assetsS$'000 | 147 | 6,217 | – | 6,364 | – | 6,364 | PDF p. 99 |
| Segment assetsS$'000 | 25,719 | 98,877 | – | 124,596 | – | 124,596 | PDF p. 99 |
| Segment liabilitiesS$'000 | (14,254) | (18,484) | – | (32,738) | – | (32,738) | PDF p. 99 |
Segment revenue, expenses and results include transfers between business segments. These transfers are eliminated on consolidation.
Blank cells in the printed table are shown as empty strings (reconciling items shown only in consolidated column).
| Item / unit | 2025Investment holding (continuing operations) | 2025Oilfield engineering (continuing operations) | 2025Eliminations | 2025Continuing operations Subtotal | 2025Discontinued operations | 2025Per consolidated financial statements | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| External salesS$'000 | – | 63,277 | – | 63,277 | 8,199 | 71,476 | PDF p. 100 |
| Inter-segment salesS$'000 | 6,757 | 2,859 | (9,691) | (75) | 75 | – | PDF p. 100 |
| Total salesS$'000 | 6,757 | 66,136 | (9,691) | 63,202 | 8,274 | 71,476 | PDF p. 100 |
| Results | |||||||
| Interest incomeS$'000 | – | – | – | – | 5 | 5 | PDF p. 100 |
| Rental incomeS$'000 | 573 | – | – | 573 | – | 573 | PDF p. 100 |
| Depreciation and amortizationS$'000 | (1,442) | (2,828) | – | (4,270) | (236) | (4,506) | PDF p. 100 |
| Loss on disposal of property,S$'000 | (11) | (67) | – | (78) | – | (78) | PDF p. 100 |
| Allowance for inventoryS$'000 | - | (192) | – | (192) | – | (192) | PDF p. 100 |
| Finance costsS$'000 | (663) | (417) | – | (1,080) | (8) | (1,088) | PDF p. 100 |
| Segment (loss)/profit before taxS$'000 | (6,610) | 10,242 | – | 3,632 | 1,584 | 5,216 | PDF p. 100 |
| Tax credit/(expense)S$'000 | 91 | (229) | – | (138) | (239) | (377) | PDF p. 100 |
| Assets and liabilities | |||||||
| Additions to non-current assetsS$'000 | 592 | 26,349 | – | 26,941 | 135 | 27,076 | PDF p. 100 |
| Segment assetsS$'000 | 27,206 | 101,770 | – | 128,976 | 6,243 | 135,219 | PDF p. 100 |
| Segment liabilitiesS$'000 | (15,724) | (20,092) | – | (35,816) | (1,448) | (37,264) | PDF p. 100 |
Note A: Inter-segment revenues are eliminated on consolidation.
Blank cells in the printed table are shown as empty strings.
| Item / unit | 2026External sales (excluding discontinued operations) | 2025External sales (excluding discontinued operations) | 2026Non-current assets | 2025Non-current assets | Source |
|---|---|---|---|---|---|
| Geographical segments | |||||
| SingaporeS$'000 | 24,122 | 30,112 | 28,074 | 29,714 | PDF p. 101 |
| Kingdom of BahrainS$'000 | 21,274 | 29,945 | 15,199 | 16,974 | PDF p. 101 |
| United KingdomS$'000 | 2,751 | 3,220 | 138 | 3,220 | PDF p. 101 |
| United Arab EmiratesS$'000 | 1,710 | – | 33,363 | 30,781 | PDF p. 101 |
| Total (unlabelled line)S$'000 | 49,857 | 63,277 | 76,774 | 80,689 | PDF p. 101 |
1 Excluding discontinued operations
Non-current assets information presented above consist of goodwill, intangible assets, property, plant and equipment, right-of-use assets and investment in associate and joint venture as presented in the consolidated statement of financial position.
The Group's non-current assets and sales to external customers disclosed in geographical segments are based on the entities' country of domicile.
Major customers (33.3): Revenue from two major customers amounted to S$17,040,000 (2025: one major customer amounted to S$11,143,000) arising from sales by the Oilfield Engineering segment.
Debt
| Item / unit | 2026Total contractual cash flows, S$'000 | 20261 year or less, S$'000 | 20261 to 5 years, S$'000 | 2026More than 5 years, S$'000 | Source |
|---|---|---|---|---|---|
| 2026 Non-derivative financial liabilities | |||||
| Bank borrowingsS$'000 | (22,239) | (7,925) | (11,836) | (2,478) | PDF p. 108 |
| Lease liabilitiesS$'000 | (34,458) | (1,745) | (5,768) | (26,945) | PDF p. 108 |
Based on contractual undiscounted repayment obligations. 2025 Group comparatives are in the next table.
| Item / unit | 2026Total contractual cash flows, S$'000 | 20261 year or less, S$'000 | 20261 to 5 years, S$'000 | 2026More than 5 years, S$'000 | 2025Total contractual cash flows, S$'000 | 20251 year or less, S$'000 | 20251 to 5 years, S$'000 | 2025More than 5 years, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Non-derivative financial liabilities | |||||||||
| Bank borrowingsS$'000 | (22,239) | (7,925) | (11,836) | (2,478) | (17,465) | (1,283) | (16,182) | – | PDF p. 108 |
| Lease liabilitiesS$'000 | (34,458) | (1,745) | (5,768) | (26,945) | (36,430) | (1,578) | (5,928) | (28,924) | PDF p. 108 |
Based on contractual undiscounted repayment obligations. 2025 Group comparatives are in the next table.
Based on contractual undiscounted repayment obligations.
| Item / unit | 2026Total contractual cash flows, S$'000 | 20261 year or less, S$'000 | 20261 to 5 years, S$'000 | 2026More than 5 years, S$'000 | 2025Total contractual cash flows, S$'000 | 20251 year or less, S$'000 | 20251 to 5 years, S$'000 | 2025More than 5 years, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Non-derivative financial liabilities | |||||||||
| Bank borrowingsS$'000 | (9,899) | (816) | (6,605) | (2,478) | (2,300) | (155) | (2,145) | – | PDF p. 108 |
| Lease liabilitiesS$'000 | (14,481) | (905) | (3,620) | (9,956) | (15,373) | (904) | (3,617) | (10,852) | PDF p. 108 |
Based on contractual undiscounted repayment obligations.
| Item / unit | 2026Group, S$'000 | 2025Group, S$'000 | 2026Company, S$'000 | 2025Company, S$'000 | Source |
|---|---|---|---|---|---|
| Bank borrowings, current portion | |||||
| Unsecured (Facility 1)S$'000 | 480 | – | 480 | – | PDF p. 91 |
| Unsecured (Facility 3)S$'000 | 6,848 | – | – | – | PDF p. 91 |
| Unsecured (Facility 4)S$'000 | – | 387 | – | – | PDF p. 91 |
| Total current bank borrowingsS$'000 | 7,328 | 387 | 480 | – | PDF p. 91 |
| Bank borrowings, non-current portion | |||||
| Unsecured (Facility 1)S$'000 | 7,520 | – | 7,520 | – | PDF p. 91 |
| Unsecured (Facility 2)S$'000 | 5,644 | 6,500 | 644 | – | PDF p. 91 |
| Unsecured (Facility 3)S$'000 | – | 9,644 | – | 2,144 | PDF p. 91 |
| Total non-current bank borrowingsS$'000 | 13,164 | 16,144 | 8,164 | 2,144 | PDF p. 91 |
| Total | |||||
| Total bank borrowingsS$'000 | 20,492 | 16,531 | 8,644 | 2,144 | PDF p. 91 |
No secured borrowings are listed; all facilities are printed as Unsecured.
Facility 1: SGD long term loans repayable quarterly from December 2026, final instalment 22 September 2032; interest 2.65% per annum over the SORA.
Facility 2: multi-currency revolving credit facility, repayable 31 May 2028 (2025: 4 May 2026); interest 3.00% per annum over SORA or 3.10% per annum over SOFR.
Facility 3: multi-currency revolving credit facility maturing 4 June 2026 (2025: 3 April 2026); interest 2.85% per annum over SORA or SOFR; refinanced with a short-term borrowing arrangement after 31 March 2026.
Facility 4: SGD loan, 48 monthly instalments from 23 January 2022, interest 2.00% per annum; fully repaid as at 31 March 2026.
Financial covenants (debt service coverage, gearing, tangible net worth): non-current portion could become repayable within 12 months if covenants are not met or waived.
| Item / unit | 2026Group, S$'000 | 2025Group, S$'000 | 2026Company, S$'000 | 2025Company, S$'000 | Source |
|---|---|---|---|---|---|
| Currency | |||||
| Singapore DollarsS$'000 | 16,500 | 14,387 | 8,000 | – | PDF p. 91 |
| United States DollarsS$'000 | 3,992 | 2,144 | 644 | 2,144 | PDF p. 91 |
Total 20,492 / 16,531 / 8,644 / 2,144 printed.
| Item / unit | 2026Group, S$'000 | 2025Group, S$'000 | 2026Company, S$'000 | 2025Company, S$'000 | Source |
|---|---|---|---|---|---|
| Current liabilities | |||||
| Lease liabilitiesS$'000 | 899 | 694 | 512 | 493 | PDF p. 43 |
| Non-current liabilities | |||||
| Lease liabilitiesS$'000 | 17,643 | 18,735 | 10,449 | 10,954 | PDF p. 44 |
Note reference 25 printed in the Note column.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend policy | The Company does not have a formal dividend policy. The Board takes into consideration the Group’s financial performance, cash position, cash flow generated from operations, projected capital requirements for business growth and such other factors as the Board may deem appropriate in determining the form, frequency and amount of dividend payments. | Company | PDF p. 30 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| No dividend has been proposed | No dividend has been proposed for the financial year ended 31 March 2026 | Group, FY2026 | PDF p. 7 |
| Interim tax exempt (one-tier) dividend for 2026 | Nil | Group and Company, FY2026 interim, tax exempt (one-tier) | PDF p. 97 |
| Interim tax exempt (one-tier) dividend for 2025 | 0.5 cents per share | Group and Company, FY2025 interim, tax exempt (one-tier) | PDF p. 97 |
| Final tax exempt (one-tier) dividend for 2026 | Nil | Group and Company, FY2026 final proposed, tax exempt (one-tier) | PDF p. 97 |
| Final tax exempt (one-tier) dividend for 2025 | 0.5 cents per share | Group and Company, FY2025 final, tax exempt (one-tier) | PDF p. 97 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend per share, paid or proposed in respect of the financial year (in Singapore cents) | 1.00 Singapore cents per share | Group, FY2025 (2025 column) | PDF p. 8 |
| Dividend per share, paid or proposed in respect of the financial year (in Singapore cents) | - Singapore cents per share | Group, FY2026 (2026 column) | PDF p. 8 |
| Dividend payout ratio (%) | 44.64% | Group, FY2025 (2025 column) | PDF p. 8 |
| Dividend payout ratio (%) | N/A | Group, FY2026 (2026 column) | PDF p. 8 |
Extracted from 2025/2026 ANNUAL REPORT MTQ CORPORATION LIMITED and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | BDO LLP | Group and Company, FY ended 31 March 2026 | PDF p. 41 |
| Engagement partner | Lee Kuang Hon | Group and Company, FY ended 31 March 2026 | PDF p. 41 |
| Opinion | In our opinion, the accompanying consolidated financial | Group and Company, FY ended 31 March 2026 | PDF p. 35 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern basis (Note 2.1) | there are no material uncertainties that may cast significant doubt on the Group’s ability to continue as a going concern | Group, FY ended 31 March 2026 | PDF p. 48 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Impairment assessment of goodwill | SFRS(I) 1-36 Impairment of Assets requires goodwill to be tested for impairment at least annually. | Group, 31 March 2026 | PDF p. 36 |
| Valuation of inventories | Inventories are stated at the lower of cost and net realizable value. | Group, 31 March 2026 | PDF p. 37 |
| Recoverability of trade receivables and contract assets | The Group provides for lifetime expected credit losses | Group, 31 March 2026 | PDF p. 38 |
Extracted from 2025/2026 ANNUAL REPORT MTQ CORPORATION LIMITED 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 2025/2026 ANNUAL REPORT MTQ CORPORATION LIMITED, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.