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Financials
ANNUAL REPORT 2026
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7 tablesConsolidated Statement of Profit or Loss and Other Comprehensive Income (Group)
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Profit or loss | |||
| RevenueS$'000 | 41,256 | 34,581 | PDF p. 115 |
| Other operating incomeS$'000 | 1,068 | 621 | PDF p. 115 |
| Changes in inventories & raw materials usedS$'000 | (12,837) | (10,057) | PDF p. 115 |
| Employee benefits expenseS$'000 | (13,996) | (12,698) | PDF p. 115 |
| Amortisation and depreciation expenseS$'000 | (2,332) | (1,828) | PDF p. 115 |
| Other operating expensesS$'000 | (9,363) | (8,993) | PDF p. 115 |
| Finance costsS$'000 | (206) | (192) | PDF p. 115 |
| Operating profitS$'000 | 3,590 | 1,434 | PDF p. 115 |
| Fair value adjustment for contingent considerationS$'000 | (4,626) | (3,000) | PDF p. 115 |
| Impairment of goodwillS$'000 | – | (129) | PDF p. 115 |
| Loss before income taxS$'000 | (1,036) | (1,695) | PDF p. 115 |
| Income tax expenseS$'000 | (759) | (119) | PDF p. 115 |
| Loss for the yearS$'000 | (1,795) | (1,814) | PDF p. 115 |
| Other comprehensive income | |||
| Exchange differences on translating foreign operationsS$'000 | 95 | 76 | PDF p. 115 |
| Fair value loss from equity instrument designated at fair value through other comprehensive incomeS$'000 | (158) | – | PDF p. 115 |
| Other comprehensive (loss)/income for the yearS$'000 | (63) | 76 | PDF p. 115 |
| Total comprehensive loss for the yearS$'000 | (1,858) | (1,738) | PDF p. 115 |
| Loss per share attributable to owners of the Company | |||
| Basic (cents per share)cents per share | (0.67) | (0.69) | PDF p. 115 |
| Diluted (cents per share)cents per share | (0.67) | (0.69) | PDF p. 115 |
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Definitions & sources
Original report: PDF p. 115 ↗
For the financial year ended 31 March 2026. The accompanying notes form an integral part of and should be read in conjunction with these financial statements. Only a consolidated (Group) statement is presented; no separate Company profit or loss statement is printed.
Statements of Financial Position - Group
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Non-current assets | |||
| Investment in subsidiariesS$'000 | – | – | PDF p. 116 |
| Investment in unquoted securitiesS$'000 | 161 | – | PDF p. 116 |
| Property, plant and equipmentS$'000 | 5,413 | 3,617 | PDF p. 116 |
| Intangible assetsS$'000 | 4,036 | 4,047 | PDF p. 116 |
| Trade receivablesS$'000 | 442 | 538 | PDF p. 116 |
| Total non-current assetsS$'000 | 10,052 | 8,202 | PDF p. 116 |
| Current assets | |||
| InventoriesS$'000 | 1,074 | 1,478 | PDF p. 116 |
| Trade receivablesS$'000 | 20,748 | 19,717 | PDF p. 116 |
| Other receivablesS$'000 | 668 | 1,041 | PDF p. 116 |
| Fixed deposit pledgedS$'000 | 65 | 60 | PDF p. 116 |
| Cash and cash equivalentsS$'000 | 11,471 | 4,415 | PDF p. 116 |
| Total current assetsS$'000 | 34,026 | 26,711 | PDF p. 116 |
| Assets | |||
| Total assetsS$'000 | 44,078 | 34,913 | PDF p. 116 |
| Equity | |||
| Share capitalS$'000 | 34,019 | 31,019 | PDF p. 116 |
| Treasury sharesS$'000 | (51) | (51) | PDF p. 116 |
| Foreign currency translation reserveS$'000 | 68 | (27) | PDF p. 116 |
| Share-based compensation reserveS$'000 | 361 | 145 | PDF p. 116 |
| Capital reserveS$'000 | 3,927 | – | PDF p. 116 |
| Fair value through other comprehensive income reserveS$'000 | (158) | – | PDF p. 116 |
| Accumulated lossesS$'000 | (13,937) | (12,142) | PDF p. 116 |
| Total equityS$'000 | 24,229 | 18,944 | PDF p. 116 |
| Non-current liabilities | |||
| Deferred tax liabilitiesS$'000 | 2 | 2 | PDF p. 116 |
| BorrowingS$'000 | 1,360 | – | PDF p. 116 |
| Other payablesS$'000 | – | 4,900 | PDF p. 116 |
| Lease liabilitiesS$'000 | 1,125 | 758 | PDF p. 116 |
| Total non-current liabilitiesS$'000 | 2,487 | 5,660 | PDF p. 116 |
| Current liabilities | |||
| BorrowingS$'000 | 940 | 111 | PDF p. 116 |
| Lease liabilitiesS$'000 | 1,270 | 605 | PDF p. 116 |
| Trade payablesS$'000 | 4,249 | 4,359 | PDF p. 116 |
| Other payablesS$'000 | 9,633 | 3,845 | PDF p. 116 |
| Contract liabilitiesS$'000 | 541 | 1,077 | PDF p. 116 |
| Provision for taxationS$'000 | 729 | 312 | PDF p. 116 |
| Total current liabilitiesS$'000 | 17,362 | 10,309 | PDF p. 116 |
| Liabilities | |||
| Total liabilitiesS$'000 | 19,849 | 15,969 | PDF p. 116 |
| Equity and liabilities | |||
| Total equity and liabilitiesS$'000 | 44,078 | 34,913 | PDF p. 116 |
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Definitions & sources
Original report: PDF p. 116 ↗
As at 31 March 2026. Quotes show the full printed row including Company columns, which are extracted in the separate Company table. Fair value through other comprehensive income reserve label wraps across two lines; original_label is the full label, quote is the second line.
Statements of Financial Position - Company
35 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Company | 2025Company | Source |
|---|---|---|---|
| Non-current assets | |||
| Investment in subsidiariesS$'000 | 11,395 | 11,395 | PDF p. 116 |
| Investment in unquoted securitiesS$'000 | – | – | PDF p. 116 |
| Property, plant and equipmentS$'000 | 4,051 | 1,771 | PDF p. 116 |
| Intangible assetsS$'000 | 474 | 285 | PDF p. 116 |
| Trade receivablesS$'000 | – | – | PDF p. 116 |
| Total non-current assetsS$'000 | 15,920 | 13,451 | PDF p. 116 |
| Current assets | |||
| InventoriesS$'000 | 122 | 147 | PDF p. 116 |
| Trade receivablesS$'000 | 2,613 | 1,542 | PDF p. 116 |
| Other receivablesS$'000 | 5,662 | 6,760 | PDF p. 116 |
| Fixed deposit pledgedS$'000 | – | – | PDF p. 116 |
| Cash and cash equivalentsS$'000 | 4,087 | 498 | PDF p. 116 |
| Total current assetsS$'000 | 12,484 | 8,947 | PDF p. 116 |
| Assets | |||
| Total assetsS$'000 | 28,404 | 22,398 | PDF p. 116 |
| Equity | |||
| Share capitalS$'000 | 34,019 | 31,019 | PDF p. 116 |
| Treasury sharesS$'000 | (51) | (51) | PDF p. 116 |
| Foreign currency translation reserveS$'000 | – | – | PDF p. 116 |
| Share-based compensation reserveS$'000 | 361 | 145 | PDF p. 116 |
| Capital reserveS$'000 | 3,927 | – | PDF p. 116 |
| Fair value through other comprehensive income reserveS$'000 | – | – | PDF p. 116 |
| Accumulated lossesS$'000 | (24,175) | (18,812) | PDF p. 116 |
| Total equityS$'000 | 14,081 | 12,301 | PDF p. 116 |
| Non-current liabilities | |||
| Deferred tax liabilitiesS$'000 | – | – | PDF p. 116 |
| BorrowingS$'000 | 1,360 | – | PDF p. 116 |
| Other payablesS$'000 | – | 4,900 | PDF p. 116 |
| Lease liabilitiesS$'000 | 926 | 139 | PDF p. 116 |
| Total non-current liabilitiesS$'000 | 2,286 | 5,039 | PDF p. 116 |
| Current liabilities | |||
| BorrowingS$'000 | 940 | 111 | PDF p. 116 |
| Lease liabilitiesS$'000 | 739 | 109 | PDF p. 116 |
| Trade payablesS$'000 | 461 | 351 | PDF p. 116 |
| Other payablesS$'000 | 9,876 | 4,464 | PDF p. 116 |
| Contract liabilitiesS$'000 | 21 | 23 | PDF p. 116 |
| Provision for taxationS$'000 | – | – | PDF p. 116 |
| Total current liabilitiesS$'000 | 12,037 | 5,058 | PDF p. 116 |
| Liabilities | |||
| Total liabilitiesS$'000 | 14,323 | 10,097 | PDF p. 116 |
| Equity and liabilities | |||
| Total equity and liabilitiesS$'000 | 28,404 | 22,398 | PDF p. 116 |
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Definitions & sources
Original report: PDF p. 116 ↗
As at 31 March 2026. Company columns of the same statement; quotes show the full printed row including Group columns.
Consolidated Statement of Cash Flows
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Operating activities | |||
| Loss before income taxS$'000 | (1,036) | (1,695) | PDF p. 118 |
| Depreciation of plant and equipmentS$'000 | 1,829 | 1,404 | PDF p. 118 |
| Amortisation of intangible assetsS$'000 | 503 | 424 | PDF p. 118 |
| Fair value adjustment for contingent considerationS$'000 | 4,626 | 3,000 | PDF p. 118 |
| Impairment of goodwillS$'000 | – | 129 | PDF p. 118 |
| Allowance for inventories obsolescenceS$'000 | 34 | 3 | PDF p. 118 |
| Property, plant and equipment written offS$'000 | 14 | 143 | PDF p. 118 |
| Gain on lease terminationS$'000 | (1) | – | PDF p. 118 |
| Trade payables written offS$'000 | – | (211) | PDF p. 118 |
| Provision on reinstatementS$'000 | – | 2 | PDF p. 118 |
| Allowance for/(Reversal of) expected credit loss on receivablesS$'000 | 15 | (14) | PDF p. 118 |
| Unrealised exchange lossS$'000 | 63 | 46 | PDF p. 118 |
| Cost of share-based compensationS$'000 | 216 | 145 | PDF p. 118 |
| Interest incomeS$'000 | (117) | (125) | PDF p. 118 |
| Interest expenseS$'000 | 199 | 185 | PDF p. 118 |
| Operating cash flows before working capital changesS$'000 | 6,345 | 3,436 | PDF p. 118 |
| InventoriesS$'000 | 370 | 2,407 | PDF p. 118 |
| Trade and other receivablesS$'000 | (544) | 1,363 | PDF p. 118 |
| Trade payables, other payables and contract liabilitiesS$'000 | (457) | (4,735) | PDF p. 118 |
| Cash generated from operationsS$'000 | 5,714 | 2,471 | PDF p. 118 |
| Income tax paidS$'000 | (342) | (451) | PDF p. 118 |
| Cash flows generated from operating activitiesS$'000 | 5,372 | 2,020 | PDF p. 118 |
| Investing activities | |||
| Addition of property, plant and equipmentS$'000 | (1,505) | (2,028) | PDF p. 118 |
| Interest receivedS$'000 | 84 | 125 | PDF p. 118 |
| Addition of intangible assetsS$'000 | (492) | (493) | PDF p. 118 |
| Investment in unquoted securitiesS$'000 | (319) | – | PDF p. 118 |
| Addition of fixed deposits pledged with banksS$'000 | (1) | – | PDF p. 118 |
| Cash flows used in investing activitiesS$'000 | (2,233) | (2,396) | PDF p. 118 |
| Financing activities | |||
| Interest paidS$'000 | (199) | (72) | PDF p. 118 |
| Repayment of borrowingsS$'000 | (811) | (259) | PDF p. 118 |
| Repayment of lease liabilitiesS$'000 | (1,101) | (635) | PDF p. 118 |
| Proceeds from borrowingsS$'000 | 3,000 | – | PDF p. 118 |
| Proceeds from issuance of ordinary sharesS$'000 | 3,000 | – | PDF p. 118 |
| Purchase of treasury sharesS$'000 | – | (15) | PDF p. 118 |
| Dividend paidS$'000 | – | (579) | PDF p. 118 |
| Cash flows generated from/(used in) financing activitiesS$'000 | 3,889 | (1,560) | PDF p. 118 |
| Net change in cash | |||
| Net increase/(decrease) in cash and cash equivalentsS$'000 | 7,028 | (1,936) | PDF p. 118 |
| Cash and cash equivalents at beginning of yearS$'000 | 4,415 | 6,327 | PDF p. 118 |
| Net effect of exchange rate changes on cash and cash equivalentsS$'000 | 28 | 24 | PDF p. 118 |
| Cash and cash equivalents at end of yearS$'000 | 11,471 | 4,415 | PDF p. 118 |
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Definitions & sources
Original report: PDF p. 118 ↗
Financial year ended 31 March 2026; amounts in S$’000. Notes column references omitted from values. Reconciliation of liabilities from financing activities is on page 119.
Consolidated Statement of Profit or Loss and Other Comprehensive Income (comprehensive income items)
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Profit or loss | |||
| Loss for the yearS$'000 | (1,795) | (1,814) | PDF p. 115 |
| Other comprehensive (loss)/income | |||
| Exchange differences on translating foreign operationsS$'000 | 95 | 76 | PDF p. 115 |
| Fair value loss from equity instrument designated at fair value through other comprehensive incomeS$'000 | (158) | – | PDF p. 115 |
| Other comprehensive (loss)/income for the yearS$'000 | (63) | 76 | PDF p. 115 |
| Total comprehensive income | |||
| Total comprehensive loss for the yearS$'000 | (1,858) | (1,738) | PDF p. 115 |
| Loss per share attributable to owners of the Company | |||
| Basic (cents per share)cents per share | (0.67) | (0.69) | PDF p. 115 |
| Diluted (cents per share)cents per share | (0.67) | (0.69) | PDF p. 115 |
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Definitions & sources
Original report: PDF p. 115 ↗
Financial year ended 31 March 2026; S$’000 except per-share data in cents. Only the loss and other comprehensive income lines are extracted in this stage; items 'may be reclassified subsequently to profit or loss'. No non-controlling interest attribution is printed.
Consolidated Statement of Changes in Equity (Group)
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group - Share capital | 2026Group - Treasury shares | 2026Group - Share-based compensation reserve (Note 21) | 2026Group - Foreign currency translation reserve | 2026Group - Capital reserve (Note 22) | 2026Group - Fair value through other comprehensive income reserve (Note 23) | 2026Group - Accumulated losses | 2026Group - Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 movements | |||||||||
| Balance at 1 April 2024S$'000 | 31,019 | (36) | – | (103) | – | – | (9,749) | 21,131 | PDF p. 117 |
| Repurchase of treasury sharesS$'000 | – | (15) | – | – | – | – | – | (15) | PDF p. 117 |
| Cost of share-based compensation (Note 8)S$'000 | – | – | 145 | – | – | – | – | 145 | PDF p. 117 |
| Loss for the yearS$'000 | – | – | – | – | – | – | (1,814) | (1,814) | PDF p. 117 |
| Exchange differences on translating foreign operationsS$'000 | – | – | – | 76 | – | – | – | 76 | PDF p. 117 |
| Total comprehensive lossS$'000 | – | – | – | 76 | – | – | (1,814) | (1,738) | PDF p. 117 |
| Dividend (Note 30)S$'000 | – | – | – | – | – | – | (579) | (579) | PDF p. 117 |
| Balance | |||||||||
| Balance at 31 March 2025S$'000 | 31,019 | (51) | 145 | (27) | – | – | (12,142) | 18,944 | PDF p. 117 |
| FY2026 movements | |||||||||
| Issuance of ordinary shares (Note 19)S$'000 | 3,000 | – | – | – | – | – | – | 3,000 | PDF p. 117 |
| Cost of share-based compensation (Note 8)S$'000 | – | – | 216 | – | – | – | – | 216 | PDF p. 117 |
| Reclassification of equity-settled contingent consideration (Note 28)S$'000 | – | – | – | – | 3,927 | – | – | 3,927 | PDF p. 117 |
| Loss for the yearS$'000 | – | – | – | – | – | – | (1,795) | (1,795) | PDF p. 117 |
| Exchange differences on translating foreign operationsS$'000 | – | – | – | 95 | – | – | – | 95 | PDF p. 117 |
| Fair value loss from equity instrument designated at fair value through other comprehensive incomeS$'000 | – | – | – | – | – | (158) | – | (158) | PDF p. 117 |
| Total comprehensive lossS$'000 | – | – | – | 95 | – | (158) | (1,795) | (1,858) | PDF p. 117 |
| Balance | |||||||||
| Balance at 31 March 2026S$'000 | 34,019 | (51) | 361 | 68 | 3,927 | (158) | (13,937) | 24,229 | PDF p. 117 |
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Definitions & sources
Original report: PDF p. 117 ↗
Amounts in S$’000. Rows cover both FY2025 (1 April 2024 to 31 March 2025) and FY2026 movements; the column year label denotes the latest period only. No non-controlling interest column is printed. No separate Company statement of changes in equity is presented in the report (Company statement of financial position only).
Note 10 Basic and diluted loss per share
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2026Group, FY2026 | 2025Group, FY2025 | Source |
|---|---|---|---|
| Loss per share | |||
| Loss attributable to the ordinary shareholdersS$'000 | (1,795) | (1,814) | PDF p. 142 |
| Basic Loss | |||
| Number of ordinary shares in issue at beginning of the financial yearNo. of shares | 263,200,511 | 263,367,993 | PDF p. 142 |
| Purchase of treasury sharesNo. of shares | – | (167,482) | PDF p. 142 |
| Issuance of ordinary sharesNo. of shares | 6,876,854 | – | PDF p. 142 |
| Weighted average number of ordinary shares outstanding for basic loss per share (in units)No. of shares | 270,077,365 | 263,200,511 | PDF p. 142 |
| Weighted average number of ordinary shares outstanding for diluted loss per share (in units)No. of shares | 274,027,471 | 263,259,772 | PDF p. 142 |
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Definitions & sources
Original report: PDF p. 142 ↗
Basic and diluted loss per share both (0.67) cents in 2026 and (0.69) cents in 2025. Equity-settled employee share options granted in 2025 and equity-settled contingent consideration are excluded from diluted loss per share because they are antidilutive.
Where the money comes from
Segment information
By business
Information about reportable segments, FY2026 (year ended 31 March 2026) 14 lines
| Item / unit | 2026IaaS segment, S$'000 | 2026SCS segment, S$'000 | 2026WES segment, S$'000 | 2026DES segment, S$'000 | 2026Trd segment, S$'000 | 2026Unallocated, S$'000 | 2026Total Group, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| External customersS$'000 | 7,251 | 967 | 15,809 | 13,936 | 3,293 | – | 41,256 | PDF p. 161 |
| Other operating incomeS$'000 | 525 | 17 | 88 | 438 | – | – | 1,068 | PDF p. 161 |
| Expenses | ||||||||
| Changes in inventories & raw materials usedS$'000 | (355) | (59) | (2,847) | (7,159) | (2,417) | – | (12,837) | PDF p. 161 |
| Employee benefits expenseS$'000 | (3,554) | (1,829) | (5,262) | (2,939) | (412) | – | (13,996) | PDF p. 161 |
| Amortisation & depreciation expenseS$'000 | (1,541) | (228) | (382) | (180) | (1) | – | (2,332) | PDF p. 161 |
| Allowance for expected credit loss on receivablesS$'000 | – | – | – | – | (15) | – | (15) | PDF p. 161 |
| Allowance for inventories obsolescenceS$'000 | (3) | (1) | – | – | (30) | – | (34) | PDF p. 161 |
| Other operating expensesS$'000 | (1,432) | (876) | (4,218) | (2,763) | (11) | – | (9,300) | PDF p. 161 |
| Property, plant and equipment written offS$'000 | (14) | – | – | – | – | – | (14) | PDF p. 161 |
| Finance costsS$'000 | (123) | (43) | (28) | (12) | – | – | (206) | PDF p. 161 |
| Fair value adjustment for contingent considerationS$'000 | – | – | – | – | – | (4,626) | (4,626) | PDF p. 161 |
| Results | ||||||||
| Reportable segment profit/(loss) before income taxS$'000 | 754 | (2,052) | 3,160 | 1,321 | 407 | (4,626) | (1,036) | PDF p. 161 |
| Assets and liabilities | ||||||||
| Reportable segment assetsS$'000 | 7,760 | 1,472 | 12,859 | 7,494 | 679 | 13,814 | 44,078 | PDF p. 161 |
| Reportable segment liabilitiesS$'000 | (743) | (696) | (3,637) | (2,572) | (247) | (11,954) | (19,849) | PDF p. 161 |
Notes
Performance is measured based on segment profit before income tax. Income taxes are managed on a Group basis. Inter-segment pricing is determined on an arm's length basis.
Information about reportable segments, FY2025 (comparative) 15 lines
| Item / unit | 2025IaaS segment, S$'000 | 2025SCS segment, S$'000 | 2025WES segment, S$'000 | 2025DES segment, S$'000 | 2025Trd segment, S$'000 | 2025Unallocated, S$'000 | 2025Total Group, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| External customersS$'000 | 6,729 | 853 | 15,147 | 8,794 | 3,058 | – | 34,581 | PDF p. 162 |
| Other operating incomeS$'000 | 70 | 270 | 124 | 157 | – | – | 621 | PDF p. 162 |
| Expenses | ||||||||
| Changes in inventories & raw materials usedS$'000 | (272) | (338) | (3,520) | (4,258) | (1,669) | – | (10,057) | PDF p. 162 |
| Employee benefits expenseS$'000 | (3,017) | (1,779) | (5,208) | (2,338) | (356) | – | (12,698) | PDF p. 162 |
| Amortisation & depreciation expenseS$'000 | (1,067) | (210) | (370) | (179) | (2) | – | (1,828) | PDF p. 162 |
| Allowance for expected credit loss on receivablesS$'000 | – | – | – | – | 14 | – | 14 | PDF p. 162 |
| Allowance for/(Reversal of) inventories obsolescenceS$'000 | (17) | – | – | – | 14 | – | (3) | PDF p. 162 |
| Other operating expensesS$'000 | (1,228) | (722) | (4,831) | (2,053) | (27) | – | (8,861) | PDF p. 162 |
| Property, plant and equipment written offS$'000 | (143) | – | – | – | – | – | (143) | PDF p. 162 |
| Finance costsS$'000 | (17) | (16) | (30) | (129) | – | – | (192) | PDF p. 162 |
| Fair value adjustment for contingent considerationS$'000 | – | – | – | – | – | (3,000) | (3,000) | PDF p. 162 |
| Impairment of goodwillS$'000 | – | – | – | – | – | (129) | (129) | PDF p. 162 |
| Results | ||||||||
| Reportable segment profit/(loss) before income taxS$'000 | 1,038 | (1,942) | 1,312 | (6) | 1,032 | (3,129) | (1,695) | PDF p. 162 |
| Assets and liabilities | ||||||||
| Reportable segment assetsS$'000 | 5,868 | 1,219 | 12,904 | 6,600 | 893 | 7,429 | 34,913 | PDF p. 162 |
| Reportable segment liabilitiesS$'000 | (958) | (600) | (3,654) | (2,661) | (518) | (7,578) | (15,969) | PDF p. 162 |
Notes
Comparative year labelled 2025 in the report.
Reconciliation of revenue (Note 4) to business segments 7 lines
| Item / unit | 2026IaaS segment, S$'000 | 2026SCS segment, S$'000 | 2026WES segment, S$'000 | 2026DES segment, S$'000 | 2026Trd segment, S$'000 | 2026Total, S$'000 | 2025IaaS segment, S$'000 | 2025SCS segment, S$'000 | 2025WES segment, S$'000 | 2025DES segment, S$'000 | 2025Trd segment, S$'000 | 2025Total, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from contract with customers | |||||||||||||
| – Sale of goods and services renderedS$'000 | 22 | 405 | – | – | 3,293 | 3,720 | 84 | 570 | – | – | 3,058 | 3,712 | PDF p. 162 |
| – Silver generation solutionsS$'000 | 1,332 | 479 | – | – | – | 1,811 | 1,011 | 203 | – | – | – | 1,214 | PDF p. 162 |
| – Provision of electronic monitoring servicesS$'000 | 4,666 | 83 | – | – | – | 4,749 | 4,396 | 80 | – | – | – | 4,476 | PDF p. 162 |
| – Maintenance and subscription feeS$'000 | 1,231 | – | 664 | 1,464 | – | 3,359 | 1,238 | – | 431 | 1,252 | – | 2,921 | PDF p. 162 |
| – Contract revenueS$'000 | – | – | 8,597 | 5,713 | – | 14,310 | – | – | 7,853 | 2,205 | – | 10,058 | PDF p. 162 |
| – Term contractS$'000 | – | – | 6,548 | 6,759 | – | 13,307 | – | – | 6,863 | 5,337 | – | 12,200 | PDF p. 162 |
| TotalS$'000 | 7,251 | 967 | 15,809 | 13,936 | 3,293 | 41,256 | 6,729 | 853 | 15,147 | 8,794 | 3,058 | 34,581 | PDF p. 162 |
Notes
Revenue from contract with customers.
By geography
Geographical segments 6 lines
| Item / unit | 2026Singapore, $'000 | 2026Malaysia, $'000 | 2026Others, $'000 | 2026Total Group, $'000 | 2025Singapore, $'000 | 2025Malaysia, $'000 | 2025Others, $'000 | 2025Total Group, $'000 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||
| External customers$'000 | 36,839 | 4,065 | 352 | 41,256 | 31,893 | 2,174 | 514 | 34,581 | PDF p. 163 |
| Other geographical information | |||||||||
| Segment assets$'000 | 40,866 | 3,212 | – | 44,078 | 32,687 | 2,226 | – | 34,913 | PDF p. 163 |
| Total assets$'000 | 40,866 | 3,212 | – | 44,078 | 32,687 | 2,226 | – | 34,913 | PDF p. 163 |
| Total liabilities$'000 | (19,019) | (830) | – | (19,849) | (15,616) | (353) | – | (15,969) | PDF p. 163 |
| Net assets$'000 | 21,847 | 2,382 | – | 24,229 | 17,071 | 1,873 | – | 18,944 | PDF p. 163 |
| Non-current assets$'000 | 10,028 | 24 | – | 10,052 | 8,151 | 51 | – | 8,202 | PDF p. 163 |
Notes
Revenue is based on location of customers; assets on location relative to the legal entities within the Group.
Debt
Borrowings
Liquidity risk – Group 2025 contractual undiscounted maturity
| Item / unit | 2025effective interest rate % | 2025less than 1 year S$'000 | 20251 to 5 years S$'000 | 2025total S$'000 | Source |
|---|---|---|---|---|---|
| Undiscounted financial liabilities | |||||
| Borrowing% / S$'000 | 3.5 | 112 | – | 112 | PDF p. 171 |
Liquidity risk – Company 2025 contractual undiscounted maturity
| Item / unit | 2025effective interest rate % | 2025less than 1 year S$'000 | 20251 to 5 years S$'000 | 2025total S$'000 | Source |
|---|---|---|---|---|---|
| Undiscounted financial liabilities | |||||
| Borrowing% / S$'000 | 3.5 | 112 | – | 112 | PDF p. 172 |
| Lease liabilities% / S$'000 | 5.25 | 119 | 145 | 264 | PDF p. 172 |
Borrowing notes 4 tables
Borrowing – Group and Company
| Item / unit | 2026S$'000 | 2025S$'000 | Source |
|---|---|---|---|
| Borrowing by type | |||
| Bank loanS$'000 | 2,300 | 111 | PDF p. 155 |
| Maturity profile | |||
| Within one yearS$'000 | 940 | 111 | PDF p. 155 |
| After one year but within five yearsS$'000 | 1,360 | – | PDF p. 155 |
Notes
Borrowing is repayable over a period of 1 month to 5 years. Effective interest rate per annum: Bank loan 3.30% – 4.56% (2026); 3.5% (2025).
Bank loan C is unsecured, repayment commenced June 2025 in monthly instalments, final instalment due May 2028. Bank loan A (secured by DBS current account sums and corporate guarantee by iWOW Connections Pte. Ltd.) fully repaid 18 August 2025; Bank loan B (S$500,000 short-term) fully repaid 23 May 2025. Borrowing is denominated in Singapore dollars.
Statements of financial position – borrowing and lease liabilities (current/non-current)
| Item / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Non-current liabilities | |||||
| Borrowing (non-current)S$'000 | 1,360 | – | 1,360 | – | PDF p. 116 |
| Lease liabilities (non-current)S$'000 | 1,125 | 758 | 926 | 139 | PDF p. 116 |
| Current liabilities | |||||
| Borrowing (current)S$'000 | 940 | 111 | 940 | 111 | PDF p. 116 |
| Lease liabilities (current)S$'000 | 1,270 | 605 | 739 | 109 | PDF p. 116 |
Notes
Row labels disambiguated with current/non-current in parentheses; printed label is 'Borrowing' / 'Lease liabilities'.
Note 26(b) Lease liabilities
| Item / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Lease liabilities | |||||
| Non-currentS$'000 | 1,125 | 758 | 926 | 139 | PDF p. 157 |
| CurrentS$'000 | 1,270 | 605 | 739 | 109 | PDF p. 157 |
Notes
Total lease liabilities 2,395 / 1,363 / 1,665 / 248. Maturity analysis disclosed in Note 33.
Note 26(b) Lease liabilities by currency
| Item / unit | 2026Group | 2025Group | 2026Company | 2025Company | Source |
|---|---|---|---|---|---|
| Currency denomination | |||||
| Singapore dollarS$'000 | 2,385 | 1,331 | 1,665 | 248 | PDF p. 157 |
| Malaysia ringgitS$'000 | 10 | 32 | – | – | PDF p. 157 |
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy | The Company does not have a fixed dividend policy. The form, frequency and amount of future dividends on the Company’s shares will depend on the Group’s earnings, general financial condition, results of operations, capital requirements, cash flow, general business condition, development plans and other factors as the Directors may, in their absolute discretion, deem appropriate (“Dividend Factors”). Therefore, there is no assurance that dividends will be paid in the future or of the amount or timing of any future dividends. The Company may declare an annual dividend subject to the approval of the shareholders in a general meeting but the amount of such dividend shall not exceed the amount recommended by the Directors. The Directors may also declare an interim dividend without the approval of the shareholders. | Company | PDF p. 97 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Policy (FY2026 declaration) | No dividend has been declared or recommended for FY2026 as the Group is in a loss-making position. | FY2026 (year ended 31 March 2026) | PDF p. 97 |
| In the prior financial year, the Company declared tax-exempt final dividend of S$0.0022 per ordinary share | S$0.0022 | Company, final dividend for FY ended 31 March 2024 (comparative; declared in prior financial year) | PDF p. 159 |
Extracted from ANNUAL REPORT 2026 and checked against the cited pages; see the original report for full context.
Auditor’s report
Audit & risk signals
Audit opinion
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Auditor | FORVIS MAZARS LLP | Group | PDF p. 114 |
| Engagement partner | Tan Chee Tyan | Group | PDF p. 114 |
| Opinion | In our opinion, the accompanying financial statements of the Group and the statement of financial position of the Company are properly drawn up in accordance with the Singapore Companies Act 1967 | Group and Company | PDF p. 111 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Capitalisation and carrying value of development costs | Due to the significant judgement involved, we consider management’s determination of capitalisation and carrying value of development costs as a key audit matter. | Group | PDF p. 112 |
Extracted from ANNUAL REPORT 2026 and checked against the cited pages; see the original report for full context.
How to read these figures
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow ANNUAL REPORT 2026, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.