SBS Transit S61
Financials
Annual Report 2025
Explore the statements
12 tablesStatements of Financial Position as at 31 December 2025
32 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current assets | |||||
| Short–term deposits and bank balances$'000 | 384,323 | 384,993 | 373,803 | 382,589 | PDF p. 92 |
| Trade and other receivables$'000 | 346,540 | 349,772 | 230,971 | 231,101 | PDF p. 92 |
| Inventories$'000 | 126,779 | 133,775 | 30,217 | 37,425 | PDF p. 92 |
| Total current assets$'000 | 857,642 | 868,540 | 634,991 | 651,115 | PDF p. 92 |
| Non–current assets | |||||
| Subsidiaries$'000 | – | – | 440,002 | 440,002 | PDF p. 92 |
| Due from subsidiaries$'000 | – | – | – | 35,750 | PDF p. 92 |
| Vehicles, premises and equipment$'000 | 220,224 | 271,948 | 179,715 | 233,790 | PDF p. 92 |
| Deferred tax assets$'000 | 15,155 | 20,180 | – | – | PDF p. 92 |
| Total non–current assets$'000 | 235,379 | 292,128 | 619,717 | 709,542 | PDF p. 92 |
| Assets | |||||
| Total assets$'000 | 1,093,021 | 1,160,668 | 1,254,708 | 1,360,657 | PDF p. 92 |
| Current liabilities | |||||
| Lease liabilities$'000 | 8,610 | 12,131 | 8,610 | 12,131 | PDF p. 92 |
| Trade and other payables$'000 | 284,437 | 297,500 | 145,460 | 177,898 | PDF p. 92 |
| Deposits received$'000 | 6,450 | 4,180 | 3,108 | 1,557 | PDF p. 92 |
| Provisions$'000 | 13,525 | 13,421 | 13,420 | 13,235 | PDF p. 92 |
| Fuel price equalisation account$'000 | 19,442 | 19,442 | 19,442 | 19,442 | PDF p. 92 |
| Income tax payable$'000 | 16,705 | 23,750 | 15,093 | 23,728 | PDF p. 92 |
| Total current liabilities$'000 | 349,169 | 370,424 | 205,133 | 247,991 | PDF p. 92 |
| Non–current liabilities | |||||
| Lease liabilities$'000 | 3,132 | 5,582 | 3,132 | 5,582 | PDF p. 92 |
| Deferred grants$'000 | 2,823 | 3,727 | 2,823 | 3,727 | PDF p. 92 |
| Deposits received$'000 | 5,895 | 7,845 | 1,122 | 2,707 | PDF p. 92 |
| Deferred tax liabilities$'000 | 13,075 | 17,989 | 13,066 | 17,989 | PDF p. 92 |
| Provisions$'000 | 16,881 | 16,185 | 12,918 | 13,275 | PDF p. 92 |
| Fuel price equalisation account$'000 | 19,442 | 19,442 | 19,442 | 19,442 | PDF p. 92 |
| Total non–current liabilities$'000 | 61,248 | 70,770 | 52,503 | 62,722 | PDF p. 92 |
| Liabilities and equity | |||||
| Total liabilities$'000 | 410,417 | 441,194 | 257,636 | 310,713 | PDF p. 92 |
| Capital and reserves | |||||
| Share capital$'000 | 102,442 | 101,436 | 102,442 | 101,436 | PDF p. 92 |
| Other reserves$'000 | 2,066 | 1,833 | 2,115 | 1,657 | PDF p. 92 |
| Accumulated profits$'000 | 577,348 | 616,205 | 892,515 | 946,851 | PDF p. 92 |
| Equity attributable to shareholders of the Company$'000 | 681,856 | 719,474 | 997,072 | 1,049,944 | PDF p. 92 |
| Non-controlling interest$'000 | 748 | – | – | – | PDF p. 92 |
| Total equity$'000 | 682,604 | 719,474 | 997,072 | 1,049,944 | PDF p. 92 |
| Liabilities and equity | |||||
| Total liabilities and equity$'000 | 1,093,021 | 1,160,668 | 1,254,708 | 1,360,657 | PDF p. 92 |
Definitions & sources
Original report: PDF p. 92 ↗
Group Income Statement for the financial year ended 31 December 2025
19 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Revenue$'000 | 1,517,350 | 1,559,728 | PDF p. 93 |
| Staff costs$'000 | (765,596) | (756,740) | PDF p. 93 |
| Repairs and maintenance costs$'000 | (196,643) | (203,093) | PDF p. 93 |
| Fuel and electricity costs$'000 | (204,342) | (262,063) | PDF p. 93 |
| Premises costs$'000 | (53,899) | (51,747) | PDF p. 93 |
| Depreciation expense$'000 | (82,507) | (87,158) | PDF p. 93 |
| Other operating costs$'000 | (146,243) | (125,761) | PDF p. 93 |
| Total operating costs$'000 | (1,449,230) | (1,486,562) | PDF p. 93 |
| Operating profit$'000 | 68,120 | 73,166 | PDF p. 93 |
| Interest income$'000 | 6,447 | 11,065 | PDF p. 93 |
| Finance costs$'000 | (602) | (726) | PDF p. 93 |
| Profit before taxation$'000 | 73,965 | 83,505 | PDF p. 93 |
| Tax expense$'000 | (12,771) | (13,204) | PDF p. 93 |
| Profit after taxation$'000 | 61,194 | 70,301 | PDF p. 93 |
| Profit attributable to: | |||
| Shareholders of the Company$'000 | 61,196 | 70,301 | PDF p. 93 |
| Non-controlling interest$'000 | (2) | – | PDF p. 93 |
| Profit attributable | |||
| Subtotal$'000 | 61,194 | 70,301 | PDF p. 93 |
| Earnings per share (in cents) | |||
| Basiccents per ordinary share | 19.59 | 22.52 | PDF p. 93 |
| Dilutedcents per ordinary share | 19.53 | 22.48 | PDF p. 93 |
Definitions & sources
Original report: PDF p. 93 ↗
Group Comprehensive Income Statement for the financial year ended 31 December 2025
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Profit after taxation$'000 | 61,194 | 70,301 | PDF p. 94 |
| Other comprehensive income: Items that may be reclassified subsequently to Profit or Loss | |||
| Fair value adjustment on cash flow hedges (Note 17)$'000 | (225) | 598 | PDF p. 94 |
| Total comprehensive income for the year$'000 | 60,969 | 70,899 | PDF p. 94 |
| Attributable to: | |||
| Shareholders of the Company$'000 | 60,971 | 70,899 | PDF p. 94 |
| Non-controlling interest$'000 | (2) | – | PDF p. 94 |
| Subtotal$'000 | 60,969 | 70,899 | PDF p. 94 |
Definitions & sources
Original report: PDF p. 94 ↗
Statements of Changes in Equity — Group FY2025
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group / Share capital | 2025Group / Other reserves | 2025Group / Accumulated profits | 2025Group / Total attributable equity | 2025Group / Non-controlling interest | 2025Group / Total equity | Source |
|---|---|---|---|---|---|---|---|
| Opening balance | |||||||
| Balance at 1 January 2025$’000 | 101,436 | 1,833 | 616,205 | 719,474 | – | 719,474 | PDF p. 95 |
| Total comprehensive income (expense) for the year | |||||||
| Profit/(Loss) for the year$’000 | – | – | 61,196 | 61,196 | (2) | 61,194 | PDF p. 95 |
| Other comprehensive expense for the year$’000 | – | (225) | – | (225) | – | (225) | PDF p. 95 |
| Total$’000 | – | (225) | 61,196 | 60,971 | (2) | 60,969 | PDF p. 95 |
| Transactions recognised directly in equity | |||||||
| Payment of dividends (Note 29)$’000 | – | – | (100,096) | (100,096) | – | (100,096) | PDF p. 95 |
| Shares issuance$’000 | 1,006 | (1,006) | – | – | – | – | PDF p. 95 |
| Share–based payment$’000 | – | 1,464 | – | 1,464 | – | 1,464 | PDF p. 95 |
| Share issuance in a subsidiary to a non-controlling interest$’000 | – | – | – | – | 750 | 750 | PDF p. 95 |
| Other reserves$’000 | – | – | 43 | 43 | – | 43 | PDF p. 95 |
| Total$’000 | 1,006 | 458 | (100,053) | (98,589) | 750 | (97,839) | PDF p. 95 |
| Closing balance | |||||||
| Balance at 31 December 2025$’000 | 102,442 | 2,066 | 577,348 | 681,856 | 748 | 682,604 | PDF p. 95 |
Definitions & sources
Original report: PDF p. 95 ↗
Printed component columns are represented individually; row labels carry the opening/closing date for each 2025 and 2024 equity movement. Amounts in thousands.
Source page presents FY2025 movement block followed by FY2024 comparative movement block; separated by opening/closing dates.
Statements of Changes in Equity — Group FY2024
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group / Share capital | 2024Group / Other reserves | 2024Group / Accumulated profits | 2024Group / Total attributable equity | 2024Group / Non-controlling interest | 2024Group / Total equity | Source |
|---|---|---|---|---|---|---|---|
| Opening balance | |||||||
| Balance at 1 January 2024$’000 | 100,783 | 40,861 | 540,440 | 682,084 | – | 682,084 | PDF p. 95 |
| Total comprehensive income for the year | |||||||
| Profit for the year$’000 | – | – | 70,301 | 70,301 | – | 70,301 | PDF p. 95 |
| Other comprehensive income for the year$’000 | – | 598 | – | 598 | – | 598 | PDF p. 95 |
| Total$’000 | – | 598 | 70,301 | 70,899 | – | 70,899 | PDF p. 95 |
| Transactions recognised directly in equity | |||||||
| Payment of dividends (Note 29)$’000 | – | – | (34,829) | (34,829) | – | (34,829) | PDF p. 95 |
| Shares issuance$’000 | 653 | (653) | – | – | – | – | PDF p. 95 |
| Share–based payment$’000 | – | 1,292 | – | 1,292 | – | 1,292 | PDF p. 95 |
| Transfer of revaluation reserve on disposal of leasehold land and building$’000 | – | (40,265) | 40,265 | – | – | – | PDF p. 95 |
| Other reserves$’000 | – | – | 28 | 28 | – | 28 | PDF p. 95 |
| Total$’000 | 653 | (39,626) | 5,464 | (33,509) | – | (33,509) | PDF p. 95 |
| Closing balance | |||||||
| Balance at 31 December 2024$’000 | 101,436 | 1,833 | 616,205 | 719,474 | – | 719,474 | PDF p. 95 |
Definitions & sources
Original report: PDF p. 95 ↗
Printed component columns are represented individually; row labels carry the opening/closing date for each 2025 and 2024 equity movement. Amounts in thousands.
Source page presents FY2025 movement block followed by FY2024 comparative movement block; separated by opening/closing dates.
Statements of Changes in Equity — Company FY2025
9 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company / Share capital | 2025Company / Other reserves | 2025Company / Accumulated profits | 2025Company / Total equity | Source |
|---|---|---|---|---|---|
| Opening balance | |||||
| Balance at 1 January 2025$’000 | 101,436 | 1,657 | 946,851 | 1,049,944 | PDF p. 96 |
| Total comprehensive income for the year | |||||
| Profit for the year$’000 | – | – | 45,717 | 45,717 | PDF p. 96 |
| Total$’000 | – | – | 45,717 | 45,717 | PDF p. 96 |
| Transactions recognised directly in equity | |||||
| Payment of dividends (Note 29)$’000 | – | – | (100,096) | (100,096) | PDF p. 96 |
| Shares issuance$’000 | 1,006 | (1,006) | – | – | PDF p. 96 |
| Share–based payment$’000 | – | 1,464 | – | 1,464 | PDF p. 96 |
| Other reserves$’000 | – | – | 43 | 43 | PDF p. 96 |
| Total$’000 | 1,006 | 458 | (100,053) | (98,589) | PDF p. 96 |
| Closing balance | |||||
| Balance at 31 December 2025$’000 | 102,442 | 2,115 | 892,515 | 997,072 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
Printed component columns are represented individually; row labels carry the opening/closing date for each 2025 and 2024 equity movement. Amounts in thousands.
Source page presents FY2025 movement block followed by FY2024 comparative movement block; separated by opening/closing dates.
Statements of Changes in Equity — Company FY2024
10 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company / Share capital | 2024Company / Other reserves | 2024Company / Accumulated profits | 2024Company / Total equity | Source |
|---|---|---|---|---|---|
| Opening balance | |||||
| Balance at 1 January 2024$’000 | 100,783 | 41,283 | 872,059 | 1,014,125 | PDF p. 96 |
| Total comprehensive income for the year | |||||
| Profit for the year$’000 | – | – | 69,328 | 69,328 | PDF p. 96 |
| Total$’000 | – | – | 69,328 | 69,328 | PDF p. 96 |
| Transactions recognised directly in equity | |||||
| Payment of dividends (Note 29)$’000 | – | – | (34,829) | (34,829) | PDF p. 96 |
| Shares issuance$’000 | 653 | (653) | – | – | PDF p. 96 |
| Share–based payment$’000 | – | 1,292 | – | 1,292 | PDF p. 96 |
| Transfer of revaluation reserve on disposal of leasehold land and building$’000 | – | (40,265) | 40,265 | – | PDF p. 96 |
| Other reserves$’000 | – | – | 28 | 28 | PDF p. 96 |
| Total$’000 | 653 | (39,626) | 5,464 | (33,509) | PDF p. 96 |
| Closing balance | |||||
| Balance at 31 December 2024$’000 | 101,436 | 1,657 | 946,851 | 1,049,944 | PDF p. 96 |
Definitions & sources
Original report: PDF p. 96 ↗
Printed component columns are represented individually; row labels carry the opening/closing date for each 2025 and 2024 equity movement. Amounts in thousands.
Source page presents FY2025 movement block followed by FY2024 comparative movement block; separated by opening/closing dates.
Group Cash Flow Statement
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before taxation$'000 | 73,965 | 83,505 | PDF p. 97 |
| Operating activities — Adjustments for | |||
| Depreciation expense$'000 | 82,507 | 87,158 | PDF p. 97 |
| Finance costs$'000 | 602 | 726 | PDF p. 97 |
| Net (gain)/loss on disposal of vehicles, premises and equipment$'000 | (27) | 188 | PDF p. 97 |
| Interest income$'000 | (6,447) | (11,065) | PDF p. 97 |
| Provisions$'000 | 8,371 | 5,951 | PDF p. 97 |
| Allowance for inventory obsolescence$'000 | 5,913 | 7,371 | PDF p. 97 |
| Allowance for expected credit losses$'000 | 40 | 108 | PDF p. 97 |
| Share-based payment expense$'000 | 1,464 | 1,292 | PDF p. 97 |
| Operating activities | |||
| Operating cash flows before movements in working capital$'000 | 166,388 | 175,234 | PDF p. 97 |
| Operating activities — movements in working capital | |||
| Trade receivables and other receivables$'000 | 2,627 | (46,156) | PDF p. 97 |
| Inventories$'000 | 1,083 | (21,270) | PDF p. 97 |
| Trade and other payables$'000 | (13,131) | (35,912) | PDF p. 97 |
| Deferred grants$'000 | (904) | (337) | PDF p. 97 |
| Deposits received$'000 | 320 | 612 | PDF p. 97 |
| Utilisation of provisions$'000 | (7,679) | (8,171) | PDF p. 97 |
| Receipt from net investment on sublease$'000 | 31 | 182 | PDF p. 97 |
| Operating activities | |||
| Cash generated from operations$'000 | 148,735 | 64,182 | PDF p. 97 |
| Income tax paid$'000 | (19,659) | (21,629) | PDF p. 97 |
| Interest paid arising from leases$'000 | (494) | (704) | PDF p. 97 |
| Net cash generated from operating activities$'000 | 128,582 | 41,849 | PDF p. 97 |
| Investing activities | |||
| Interest received$'000 | 6,695 | 11,918 | PDF p. 97 |
| Proceeds from disposal of vehicles, premises and equipment$'000 | 429 | 26,517 | PDF p. 97 |
| Purchase of vehicles, premises and equipment$'000 | (24,272) | (20,351) | PDF p. 97 |
| Net cash (used in)/generated from investing activities$'000 | (17,148) | 18,084 | PDF p. 97 |
| Financing activities | |||
| Payments under lease liabilities$'000 | (12,801) | (12,104) | PDF p. 97 |
| Dividends paid$'000 | (100,096) | (34,829) | PDF p. 97 |
| Others$'000 | 43 | 28 | PDF p. 97 |
| Proceeds from issuance of shares to non-controlling interest$'000 | 750 | – | PDF p. 97 |
| Net cash used in financing activities$'000 | (112,104) | (46,905) | PDF p. 97 |
| Cash and cash equivalents | |||
| Net (decrease)/increase in cash and cash equivalents$'000 | (670) | 13,028 | PDF p. 97 |
| Cash and cash equivalents at beginning of year$'000 | 384,993 | 371,965 | PDF p. 97 |
| Cash and cash equivalents at end of year$'000 | 384,323 | 384,993 | PDF p. 97 |
Definitions & sources
Original report: PDF p. 97 ↗
Payments under lease liabilities are referenced to Note 11; cash and cash equivalents at end of year are referenced to Note 5. The accompanying accounting policies and explanatory notes form an integral part of the Financial Statements.
Financial Summary
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Not stated in source | 2022Not stated in source | 2023Not stated in source | 2024Not stated in source | 2025Not stated in source | Source |
|---|---|---|---|---|---|---|
| Financial summary | ||||||
| Revenue$’mil | 1,310.8 | 1,515.3 | 1,527.1 | 1,559.7 | 1,517.4 | PDF p. 11 |
| Operating Costs$’mil | 1,257.3 | 1,435.4 | 1,450.5 | 1,486.6 | 1,449.2 | PDF p. 11 |
| Operating Profit$’mil | 53.6 | 79.9 | 76.7 | 73.2 | 68.1 | PDF p. 11 |
| Profit Attributable to Shareholders$’mil | 51.6 | 68.0 | 69.1 | 70.3 | 61.2 | PDF p. 11 |
| EBITDA$’mil | 158.9 | 173.9 | 169.3 | 160.3 | 150.6 | PDF p. 11 |
| Issued Capital$’mil | 100.5 | 100.5 | 100.8 | 101.4 | 102.4 | PDF p. 11 |
| Capital and Reserves$’mil | 603.6 | 646.3 | 682.1 | 719.5 | 681.9 | PDF p. 11 |
| Capital Disbursement$’mil | 33.1 | 10.7 | 15.7 | 20.4 | 24.3 | PDF p. 11 |
| Financial ratios | ||||||
| Return on Shareholders’ Equity% | 8.7 | 10.9 | 10.4 | 10.0 | 8.7 | PDF p. 11 |
| Per-share data | ||||||
| Earnings Per Ordinary Sharecents | 16.56 | 21.81 | 22.15 | 22.52 | 19.59 | PDF p. 11 |
| Net Asset Value Per Ordinary Sharecents | 193.54 | 207.24 | 218.64 | 230.45 | 218.38 | PDF p. 11 |
| Dividends and per-share data | ||||||
| Interim Dividend Per Ordinary Sharecents | 5.75 | 5.45 | 5.58 | 5.58 | 8.95 | PDF p. 11 |
| Final Dividend Per Ordinary Sharecents | 2.45 | 5.45 | 5.58 | 14.69 | 8.66 | PDF p. 11 |
| Special Dividend Per Ordinary Sharecents | – | – | – | 8.41 | 31.99 | PDF p. 11 |
| Total Dividend Per Ordinary Sharecents | 8.20 | 10.90 | 11.16 | 28.68 | 49.60 | PDF p. 11 |
| Financial ratios | ||||||
| Dividend Cover (Number of Times)number of times | 2.0 | 2.0 | 2.0 | 0.8 | 0.4 | PDF p. 11 |
Definitions & sources
Original report: PDF p. 11 ↗
The Financial Summary does not explicitly label its scope as Group or Company; source scope is recorded as unspecified. Column order follows the original 2021–2025 sequence. Units are given by each original row label.
Dividends paid during the year
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company, dividends paid during the year | 2024Company, dividends paid during the year | Source |
|---|---|---|---|
| Dividends paid | |||
| Tax-exempt one-tier final dividend in respect of the previous financial year: 14.69 cents (2024: 5.58 cents) per ordinary share$’000 | 45,863 | 17,408 | PDF p. 130 |
| Tax-exempt one-tier special dividend in respect of the previous financial year: 8.41 cents (2024: Nil) per ordinary share$’000 | 26,256 | – | PDF p. 130 |
| Tax-exempt one-tier interim dividend in respect of the current financial year: 8.95 cents (2024: 5.58 cents) per ordinary share$’000 | 27,977 | 17,421 | PDF p. 130 |
| Dividends paid — subtotal | |||
| Subtotal$’000 | 100,096 | 34,829 | PDF p. 130 |
Definitions & sources
Original report: PDF p. 130 ↗
Note 29(a): Company cash dividends paid during each calendar year, in $’000. Final and special dividends relate to the preceding financial year; interim dividends relate to the current year. These cash-paid totals differ from distributions attributable to the financial year.
Distributions attributable to the financial year — paid and proposed
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company, distributions attributable to financial year; paid and proposed | 2024Company, distributions attributable to financial year; paid and proposed | Source |
|---|---|---|---|
| Dividends proposed | |||
| total distributions paid and proposed in respect of the financial year ended 31 Decembercents per ordinary share | 49.60 | 28.68 | PDF p. 131 |
Definitions & sources
Original report: PDF p. 131 ↗
Cents per ordinary share. Includes interim paid and final/special dividends proposed after year end. Proposed dividends require shareholder approval and were not accrued as a current-year liability.
Final and special dividends recommended after year end
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company, recommended subsequent to year end; subject to shareholder approval | 2024Company, recommended subsequent to year end; subject to shareholder approval | Source |
|---|---|---|---|
| Recommended after year end — per-share rate | |||
| a tax-exempt one-tier final dividendcents per ordinary share | 8.66 | 14.69 | PDF p. 131 |
| a tax-exempt one-tier special dividendcents per ordinary share | 31.99 | 8.41 | PDF p. 131 |
| Recommended after year end — total amount | |||
| a tax-exempt one-tier final dividend$ | 27,070,000 | 45,863,000 | PDF p. 131 |
| a tax-exempt one-tier special dividend$ | 99,995,000 | 26,256,000 | PDF p. 131 |
Definitions & sources
Original report: PDF p. 131 ↗
Note 29(b): Company final and special dividends recommended after the financial year end, subject to shareholder approval; not accrued as a current-year liability. Per-share rates are cents; total amounts are original dollars ($), not thousands.
Where the money comes from
Segment information
By business
Business segment information – 31 December 7 lines
| Item / unit | 2025Public Transport Services | 2025Other Commercial Services | 2025Total | 2024Public Transport Services | 2024Other Commercial Services | 2024Total | Source |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Revenue$'000 | 1,454,548 | 62,802 | 1,517,350 | 1,499,977 | 59,751 | 1,559,728 | PDF p. 125PDF p. 126 |
| RESULTS | |||||||
| Segment results$'000 | 45,143 | 22,977 | 68,120 | 53,756 | 19,410 | 73,166 | PDF p. 125PDF p. 126 |
| Other information | |||||||
| Addition of vehicles, premises and equipment$'000 | 21,356 | 2,916 | 24,272 | PDF p. 125 | |||
| Depreciation expense$'000 | 77,477 | 5,030 | 82,507 | 82,108 | 5,050 | 87,158 | PDF p. 125PDF p. 126 |
| ASSETS | |||||||
| Segment assets$'000 | 669,129 | 23,870 | 692,999 | 729,622 | 25,094 | 754,716 | PDF p. 125PDF p. 126 |
| LIABILITIES | |||||||
| Segment liabilities$'000 | 333,732 | 27,862 | 361,594 | 351,652 | 29,745 | 381,397 | PDF p. 125PDF p. 126 |
| Other information | |||||||
| Additions of vehicles, premises and equipment$'000 | 18,242 | 3,583 | 21,825 | PDF p. 126 | |||
Notes
Blank values indicate cells not printed (only Total column shown). Revenue row label is printed below the values line in the source. The Group operates principally in Singapore; no geographic table is printed.
Blank values indicate cells not printed (only Total column shown). The Group operates principally in Singapore; no geographic table is printed.
Debt
Borrowings
Lease liabilities - maturity analysis
| Item / unit | 2025Group and Company | 2024Group and Company | Source |
|---|---|---|---|
| Maturity analysis | |||
| Within one year$'000 | 8,849 | 12,573 | PDF p. 118 |
| In the second to fifth year inclusive$'000 | 3,182 | 5,709 | PDF p. 118 |
| Less: Future finance charges$'000 | (289) | (569) | PDF p. 118 |
| Analysed as | |||
| Current$'000 | 8,610 | 12,131 | PDF p. 118 |
| Non-current$'000 | 3,132 | 5,582 | PDF p. 118 |
Notes
Subtotal before finance charges: 12,031 (2025), 18,282 (2024); total lease liabilities 11,742 (2025), 17,713 (2024). No 'after five years' bucket printed. Group and Company figures are identical.
Borrowing notes 1 tables
Statements of Financial Position - lease liabilities (current and non-current)
| Item / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current liabilities | |||||
| Lease liabilities (current)$'000 | 8,610 | 12,131 | 8,610 | 12,131 | PDF p. 92 |
| Non-current liabilities | |||||
| Lease liabilities (non-current)$'000 | 3,132 | 5,582 | 3,132 | 5,582 | PDF p. 92 |
Notes
The Group has no borrowings: 'With respect to debt capital, as of 31 December 2025, the Group does not have outstanding borrowings (2024: Nil).' (page 130)
Payout
Dividends & distributions
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Tax-exempt one-tier interim dividend in respect of the current financial year | 8.95 cents per share | FY2025 interim, tax-exempt one-tier; comparative 2024: 5.58 cents | PDF p. 131 |
| Interim Dividend Per Ordinary Share (cents) | 5.58 cents per share | FY2024 interim (comparative) | PDF p. 11 |
| a tax-exempt one-tier final dividend | 8.66 cents per share | FY2025 final, proposed, tax-exempt one-tier; comparative 2024: 14.69 cents | PDF p. 131 |
| a tax-exempt one-tier final dividend | 14.69 cents per share | FY2024 final (comparative), tax-exempt one-tier, totalling $45,863,000 | PDF p. 131 |
| a tax-exempt one-tier special dividend | 31.99 cents per share | FY2025 special, proposed, tax-exempt one-tier; comparative 2024: 8.41 cents | PDF p. 131 |
| a tax-exempt one-tier special dividend | 8.41 cents per share | FY2024 special (comparative), tax-exempt one-tier, totalling $26,256,000 | PDF p. 131 |
| total distributions paid and proposed in respect of the financial year ended 31 December 2025 | 49.60 cents per share | FY2025 total (interim 8.95 + final 8.66 + special 31.99 as printed) | PDF p. 131 |
| Total Dividend Per Ordinary Share (cents) | 28.68 cents per share | FY2024 total (comparative) | PDF p. 11 |
| Share Transfer Books and Register of Members closure | Monday, 4 May 2026 | Proposed FY2025 final and special dividends | PDF p. 139 |
| Proposed Final Dividend and Proposed Special Dividend payment | Monday, 11 May 2026 | Proposed FY2025 final and special dividends | PDF p. 139 |
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Dividend Cover (Number of Times) | 0.4 times | FY2025; comparative 2024: 0.8 | PDF p. 11 |
Extracted from Annual Report 2025 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 |
|---|---|---|---|
| Ernst & Young LLP | Ernst & Young LLP | Group and Company, FY2025 | PDF p. 91 |
| The engagement partner on the audit | Mr. Wong Yew Chung | Group and Company, FY2025 | PDF p. 91 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company, FY2025 | PDF p. 88 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Recoverability of equity investments in a subsidiary | Management is required to assess the recoverability of the Company’s related equity investments in SBST Rail, which are disclosed in the Financial Statements. | Company, FY2025 | PDF p. 88 |
| Recognition and measurement of provision for accident claims | Management exercises significant judgements in determining the estimated amounts required to settle the obligations, which is inherently uncertain in both timing and amounts. | Group, FY2025 | PDF p. 89 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report | Group, FY2025 | PDF p. 91 |
Extracted from 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 Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
Official FY2025 annual report, audited year ended31December2025. SGD thousands unless source row states millions, cents, percentages, multiples or dollars. Original dash/non-numeric placeholders retained.
Five-year summary covers2021–2025 in original ascending order and has no explicit Group/Company scope. Historical original-report backfill and all-company completion remain pending.
Cash-paid dividends during calendar year are separated from paid-and-proposed distributions attributable to financial year. Proposed final/special dividends require shareholder approval and were not accrued as year-end liability; proposed-total amounts are original dollars, not thousands.
Company presents separate financial-position and changes-in-equity statements; the report does not present separate Company income, comprehensive-income or cash-flow statements. All30chart points are already represented in the five-year summary.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.