THE ASSEMBLY PLACE TAP
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Financials
Annual Report 2025
Explore the statements
12 tablesConsolidated Statements of Profit or Loss and Other Comprehensive Income (Group)
18 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| Revenue and income$'000 | 26,972 | 18,941 | PDF p. 63 |
| Cost of sales$'000 | (6,462) | (3,199) | PDF p. 63 |
| Gross profit$'000 | 20,510 | 15,742 | PDF p. 63 |
| Changes in fair value of investment properties$'000 | (4,705) | (5,639) | PDF p. 63 |
| Changes in fair value of investments in unquoted shares$'000 | 439 | 1,908 | PDF p. 63 |
| Other income and gains$'000 | 38 | 143 | PDF p. 63 |
| Other losses$'000 | (277) | (7) | PDF p. 63 |
| Selling and distribution costs$'000 | (678) | (558) | PDF p. 63 |
| Administrative expenses$'000 | (4,858) | (3,027) | PDF p. 63 |
| Finance costs$'000 | (2,293) | (1,379) | PDF p. 63 |
| Share of results of associates, net of tax$'000 | 197 | (69) | PDF p. 63 |
| Profit before tax$'000 | 8,373 | 7,114 | PDF p. 63 |
| Income tax expense$'000 | (1,757) | (896) | PDF p. 63 |
| Profit and total comprehensive income for the year$'000 | 6,616 | 6,218 | PDF p. 63 |
| Profit and total comprehensive income for the year attributable to | |||
| Owners of the Company$'000 | 6,618 | 6,220 | PDF p. 63 |
| Non-controlling interests$'000 | (2) | (2) | PDF p. 63 |
| Subtotal$'000 | 6,616 | 6,218 | PDF p. 63 |
| Earnings per share | |||
| Basic and diluted earnings per share (cents)Cents | 2.10 | 2.25 | PDF p. 63 |
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Definitions & sources
Original report: PDF p. 63 ↗
The accompanying notes form an integral part of these financial statements.
No separate Company-level income statement is printed.
Statement of Financial Position - Group
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipment$'000 | 132 | 386 | PDF p. 64 |
| Investment properties$'000 | 75,595 | 37,620 | PDF p. 64 |
| Intangible assets$'000 | 2,024 | 1,991 | PDF p. 64 |
| Investments in subsidiaries$'000 | − | − | PDF p. 64 |
| Investments in associates$'000 | 1,258 | 861 | PDF p. 64 |
| Other investments$'000 | 2,355 | 1,916 | PDF p. 64 |
| Other receivables$'000 | 1,908 | 1,962 | PDF p. 64 |
| Total non-current assets$'000 | 83,272 | 44,736 | PDF p. 64 |
| Current assets | |||
| Inventories$'000 | 39 | 24 | PDF p. 64 |
| Trade and other receivables$'000 | 10,357 | 7,792 | PDF p. 64 |
| Other non-financial assets$'000 | 1,023 | 702 | PDF p. 64 |
| Cash and cash equivalents$'000 | 2,186 | 3,176 | PDF p. 64 |
| Total current assets$'000 | 13,605 | 11,694 | PDF p. 64 |
| Assets | |||
| Total assets$'000 | 96,877 | 56,430 | PDF p. 64 |
| Equity | |||
| Share capital$'000 | 15,580 | 9,200 | PDF p. 64 |
| Merger reserve$'000 | (1,052) | (1,052) | PDF p. 64 |
| Retained earnings$'000 | 12,423 | 5,805 | PDF p. 64 |
| Equity attributable to owners of the Company$'000 | 26,951 | 13,953 | PDF p. 64 |
| Non-controlling interests$'000 | (4) | (2) | PDF p. 64 |
| Total equity$'000 | 26,947 | 13,951 | PDF p. 64 |
| Non-current liabilities | |||
| Deferred tax liabilities$'000 | 2,658 | 866 | PDF p. 64 |
| Provisions$'000 | 102 | 102 | PDF p. 64 |
| Other payables$'000 | 65 | 65 | PDF p. 64 |
| Lease liabilities$'000 | 47,213 | 21,182 | PDF p. 64 |
| Other financial liabilities$'000 | − | 259 | PDF p. 64 |
| Total non-current liabilities$'000 | 50,038 | 22,474 | PDF p. 64 |
| Current liabilities | |||
| Income tax payable$'000 | − | 36 | PDF p. 64 |
| Trade and other payables$'000 | 6,076 | 8,649 | PDF p. 64 |
| Lease liabilities$'000 | 12,909 | 10,134 | PDF p. 64 |
| Other financial liabilities$'000 | 45 | 209 | PDF p. 64 |
| Other liabilities$'000 | 862 | 977 | PDF p. 64 |
| Total current liabilities$'000 | 19,892 | 20,005 | PDF p. 64 |
| Liabilities | |||
| Total liabilities$'000 | 69,930 | 42,479 | PDF p. 64 |
| Equity and liabilities | |||
| Total equity and liabilities$'000 | 96,877 | 56,430 | PDF p. 64 |
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Definitions & sources
Original report: PDF p. 64 ↗
Group columns of the combined Group/Company statement; quotes are whole printed rows including Company columns.
The accompanying notes form an integral part of these financial statements.
Statement of Financial Position - Company
34 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company | 2024Company | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipment$'000 | 72 | 279 | PDF p. 64 |
| Investment properties$'000 | − | − | PDF p. 64 |
| Intangible assets$'000 | − | − | PDF p. 64 |
| Investments in subsidiaries$'000 | 9,200 | 9,200 | PDF p. 64 |
| Investments in associates$'000 | 1,258 | 861 | PDF p. 64 |
| Other investments$'000 | 2,355 | 1,912 | PDF p. 64 |
| Other receivables$'000 | − | − | PDF p. 64 |
| Total non-current assets$'000 | 12,885 | 12,252 | PDF p. 64 |
| Current assets | |||
| Inventories$'000 | − | − | PDF p. 64 |
| Trade and other receivables$'000 | 4,937 | 3,690 | PDF p. 64 |
| Other non-financial assets$'000 | 189 | 19 | PDF p. 64 |
| Cash and cash equivalents$'000 | 227 | 819 | PDF p. 64 |
| Total current assets$'000 | 5,353 | 4,528 | PDF p. 64 |
| Assets | |||
| Total assets$'000 | 18,238 | 16,780 | PDF p. 64 |
| Equity | |||
| Share capital$'000 | 15,580 | 9,200 | PDF p. 64 |
| Merger reserve$'000 | − | − | PDF p. 64 |
| Retained earnings$'000 | 509 | 1,737 | PDF p. 64 |
| Equity attributable to owners of the Company$'000 | 16,089 | 10,937 | PDF p. 64 |
| Non-controlling interests$'000 | − | − | PDF p. 64 |
| Total equity$'000 | 16,089 | 10,937 | PDF p. 64 |
| Non-current liabilities | |||
| Deferred tax liabilities$'000 | − | − | PDF p. 64 |
| Provisions$'000 | − | − | PDF p. 64 |
| Other payables$'000 | − | − | PDF p. 64 |
| Lease liabilities$'000 | − | 37 | PDF p. 64 |
| Other financial liabilities$'000 | − | − | PDF p. 64 |
| Total non-current liabilities$'000 | − | 37 | PDF p. 64 |
| Current liabilities | |||
| Income tax payable$'000 | − | − | PDF p. 64 |
| Trade and other payables$'000 | 2,146 | 5,605 | PDF p. 64 |
| Lease liabilities$'000 | 3 | 201 | PDF p. 64 |
| Other financial liabilities$'000 | − | − | PDF p. 64 |
| Other liabilities$'000 | − | − | PDF p. 64 |
| Total current liabilities$'000 | 2,149 | 5,806 | PDF p. 64 |
| Liabilities | |||
| Total liabilities$'000 | 2,149 | 5,843 | PDF p. 64 |
| Equity and liabilities | |||
| Total equity and liabilities$'000 | 18,238 | 16,780 | PDF p. 64 |
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Definitions & sources
Original report: PDF p. 64 ↗
Company columns of the combined Group/Company statement; quotes are whole printed rows including Group columns.
The accompanying notes form an integral part of these financial statements.
Consolidated statement of profit or loss and other comprehensive income (Group)
17 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Profit or loss | |||
| Revenue and income$’000 | 26,972 | 18,941 | PDF p. 63 |
| Cost of sales$’000 | (6,462) | (3,199) | PDF p. 63 |
| Gross profit$’000 | 20,510 | 15,742 | PDF p. 63 |
| Changes in fair value of investment properties$’000 | (4,705) | (5,639) | PDF p. 63 |
| Changes in fair value of investments in unquoted shares$’000 | 439 | 1,908 | PDF p. 63 |
| Other income and gains$’000 | 38 | 143 | PDF p. 63 |
| Other losses$’000 | (277) | (7) | PDF p. 63 |
| Selling and distribution costs$’000 | (678) | (558) | PDF p. 63 |
| Administrative expenses$’000 | (4,858) | (3,027) | PDF p. 63 |
| Finance costs$’000 | (2,293) | (1,379) | PDF p. 63 |
| Share of results of associates, net of tax$’000 | 197 | (69) | PDF p. 63 |
| Profit before tax$’000 | 8,373 | 7,114 | PDF p. 63 |
| Income tax expense$’000 | (1,757) | (896) | PDF p. 63 |
| Profit and total comprehensive income for the year$’000 | 6,616 | 6,218 | PDF p. 63 |
| Attributable to | |||
| Owners of the Company$’000 | 6,618 | 6,220 | PDF p. 63 |
| Non-controlling interests$’000 | (2) | (2) | PDF p. 63 |
| Earnings per share | |||
| Basic and diluted earnings per share (cents)Cents | 2.10 | 2.25 | PDF p. 63 |
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Definitions & sources
Original report: PDF p. 63 ↗
The accompanying notes form an integral part of these financial statements.
Basic and diluted EPS in cents.
Statement of changes in equity – Group
6 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group current year: Share capital | 2025Group current year: Merger reserve | 2025Group current year: Retained earnings/(accumulated losses) | 2025Group current year: Sub-total attributable to owners | 2025Group current year: Non-controlling interests | 2025Group current year: Total equity | Source |
|---|---|---|---|---|---|---|---|
| Current year (2025) | |||||||
| Issue of shares (Note 23)$’000 | 6,380 | − | − | 6,380 | − | 6,380 | PDF p. 65 |
| Total comprehensive income/ (loss) for the year$’000 | − | − | 6,618 | 6,618 | (2) | 6,616 | PDF p. 65 |
| Closing balance at 31 December 2025$’000 | 15,580 | (1,052) | 12,423 | 26,951 | (4) | 26,947 | PDF p. 65 |
| Previous year (2024) | |||||||
| Total comprehensive income/ (loss) for the year$’000 | − | − | 6,220 | 6,220 | (2) | 6,218 | PDF p. 65 |
| Closing balance at 31 December 2024$’000 | 9,200 | (1,052) | 5,805 | 13,953 | (2) | 13,951 | PDF p. 65 |
| Current year (2025) | |||||||
| Opening balance at 1 January 2025$’000 | 9,200 | (1,052) | 5,805 | 13,953 | (2) | 13,951 | PDF p. 65 |
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Definitions & sources
Original report: PDF p. 65 ↗
* Less than $1,000.
Columns in order: Share capital, Merger reserve, Retained earnings/(accumulated losses), Sub-total, Non-controlling interests, Total equity. Previous year (2024) rows are listed separately with year 2024 in the row section.
Statement of changes in equity – Company
7 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company current year: Share capital | 2025Company current year: Retained earnings | 2025Company current year: Total equity | Source |
|---|---|---|---|---|
| Current year (2025) | ||||
| Opening balance at 1 January 2025$’000 | 9,200 | 1,737 | 10,937 | PDF p. 65 |
| Issue of shares (Note 23)$’000 | 6,380 | − | 6,380 | PDF p. 65 |
| Total comprehensive loss for the year$’000 | − | (1,228) | (1,228) | PDF p. 65 |
| Closing balance at 31 December 2025$’000 | 15,580 | 509 | 16,089 | PDF p. 65 |
| Previous year (2024) | ||||
| Opening balance at 1 January 2024$’000 | 9,200 | (125) | 9,075 | PDF p. 65 |
| Total comprehensive income for the year$’000 | − | 1,862 | 1,862 | PDF p. 65 |
| Closing balance at 31 December 2024$’000 | 9,200 | 1,737 | 10,937 | PDF p. 65 |
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Definitions & sources
Original report: PDF p. 65 ↗
Columns in order: Share capital, Retained earnings, Total equity. 2024 rows are the previous year.
Consolidated statement of cash flows (Group)
43 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before tax$’000 | 8,373 | 7,114 | PDF p. 66 |
| Changes in fair value of investment properties$’000 | 4,705 | 5,639 | PDF p. 66 |
| Changes in fair value of investments in unquoted shares$’000 | (439) | (1,908) | PDF p. 66 |
| Gain on disposal of property, plant and equipment$’000 | − | (34) | PDF p. 66 |
| Share of results of associates, net of tax$’000 | (197) | 69 | PDF p. 66 |
| Interest expense$’000 | 2,293 | 1,379 | PDF p. 66 |
| Amortisation of intangible assets$’000 | 84 | 41 | PDF p. 66 |
| Depreciation of plant, plant and equipment$’000 | 282 | 295 | PDF p. 66 |
| Provisions$’000 | − | 5 | PDF p. 66 |
| Loss on disposal of investment properties due to lease termination$’000 | 200 | − | PDF p. 66 |
| Gain on remeasurement of right-of-use under property, plant and equipment$’000 | − | (28) | PDF p. 66 |
| Allowance for expected credit loss of trade receivables$’000 | 77 | 7 | PDF p. 66 |
| Non-recurring IPO expenses$’000 | 1,110 | − | PDF p. 66 |
| Operating cash flows before changes in working capital$’000 | 16,488 | 12,579 | PDF p. 66 |
| Inventories$’000 | (15) | (7) | PDF p. 66 |
| Trade and other receivables$’000 | (1,919) | (899) | PDF p. 66 |
| Other non-financial assets$’000 | (11) | (27) | PDF p. 66 |
| Trade and other payables$’000 | 1,376 | 722 | PDF p. 66 |
| Other liabilities$’000 | (115) | 261 | PDF p. 66 |
| Other payables$’000 | (23) | 55 | PDF p. 66 |
| Net cash flows from operations$’000 | 15,781 | 12,684 | PDF p. 66 |
| Income taxes paid$’000 | (158) | (4) | PDF p. 66 |
| Net cash flows from operating activities$’000 | 15,623 | 12,680 | PDF p. 66 |
| Investing activities | |||
| Proceeds from disposal of property, plant and equipment$’000 | − | 34 | PDF p. 66 |
| Purchase of property, plant and equipment$’000 | (28) | (110) | PDF p. 66 |
| Payments of development costs in intangible assets$’000 | (117) | (90) | PDF p. 66 |
| Investment in unquoted shares$’000 | − | (4) | PDF p. 66 |
| Additions of furniture and fittings in investment properties$’000 | (274) | (881) | PDF p. 66 |
| Investments in associates$’000 | (200) | (930) | PDF p. 66 |
| Net movements with related parties$’000 | 1,424 | (16) | PDF p. 66 |
| Net movements with investees companies$’000 | (1,646) | (2,490) | PDF p. 66 |
| Net movements with associates$’000 | (291) | (230) | PDF p. 66 |
| Net security deposits paid$’000 | 32 | (317) | PDF p. 66 |
| Net cash flows used in investing activities$’000 | (1,100) | (5,034) | PDF p. 66 |
| Financing activities | |||
| Repayment of loan and borrowings$’000 | (423) | (185) | PDF p. 66 |
| Payment of non-recurring IPO expenses$’000 | (243) | − | PDF p. 66 |
| Net movements with shareholder$’000 | 1,246 | 5,873 | PDF p. 66 |
| Payments of lease liabilities – principal portion$’000 | (13,800) | (10,030) | PDF p. 66 |
| Interest expense paid$’000 | (2,293) | (1,379) | PDF p. 66 |
| Net cash flows used in financing activities$’000 | (15,513) | (5,721) | PDF p. 66 |
| Net change in cash | |||
| Net (decrease)/increase in cash and cash equivalents$’000 | (990) | 1,925 | PDF p. 66 |
| Cash and cash equivalents at beginning of year$’000 | 2,934 | 1,009 | PDF p. 66 |
| Cash and cash equivalents at end of year (Note 22A)$’000 | 1,944 | 2,934 | PDF p. 66 |
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Definitions & sources
Original report: PDF p. 66 ↗
The accompanying notes form an integral part of these financial statements.
Labels printed as in source (e.g. 'Depreciation of plant, plant and equipment', 'Cash flows used financing activities').
Financial Review – Consolidated Statement of Comprehensive Income
16 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025 S$'000 | 2024Group FY2024 S$'000 | 2025Increase/(Decrease) S$'000, FY2025 vs FY2024 | 2025Increase/(Decrease) %, FY2025 vs FY2024 | Source |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue and incomeS$'000 | 26,972 | 18,941 | 8,031 | 42.4 | PDF p. 15 |
| Cost of salesS$'000 | (6,462) | (3,199) | 3,263 | 102.0 | PDF p. 15 |
| Gross profitS$'000 | 20,510 | 15,742 | 4,768 | 30.3 | PDF p. 15 |
| Changes in fair value of investment propertiesS$'000 | (4,705) | (5,639) | (934) | (16.6) | PDF p. 15 |
| Changes in fair value of investments in unquoted sharesS$'000 | 439 | 1,908 | (1,469) | (77.0) | PDF p. 15 |
| Other income and gainsS$'000 | 38 | 143 | (105) | (73.4) | PDF p. 15 |
| Other lossesS$'000 | (277) | (7) | 270 | NM | PDF p. 15 |
| Selling and distribution costsS$'000 | (678) | (558) | 120 | 21.5 | PDF p. 15 |
| Administrative expensesS$'000 | (4,858) | (3,027) | 1,831 | 60.5 | PDF p. 15 |
| Finance costsS$'000 | (2,293) | (1,379) | 914 | 66.3 | PDF p. 15 |
| Share of results in associates, net of taxS$'000 | 197 | (69) | 266 | NM | PDF p. 15 |
| Profit before taxS$'000 | 8,373 | 7,114 | 1,259 | 17.7 | PDF p. 15 |
| Income tax expenseS$'000 | (1,757) | (896) | 861 | 96.1 | PDF p. 15 |
| Profit, net of tax and total comprehensive incomeS$'000 | 6,616 | 6,218 | 398 | 6.4 | PDF p. 15 |
| Attributable to | |||||
| Owners of the CompanyS$'000 | 6,618 | 6,220 | 398 | 6.4 | PDF p. 15 |
| Non-controlling interestsS$'000 | (2) | (2) | – | – | PDF p. 15 |
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Definitions & sources
Original report: PDF p. 15 ↗
NM: Not meaningful
Financial Review – Adjusted NPAT (illustrative, excluding non-recurring IPO-related expenses)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025 S$'000 | 2024Group FY2024 S$'000 | 2025Increase/(Decrease) S$'000, FY2025 vs FY2024 | 2025Increase/(Decrease) %, FY2025 vs FY2024 | Source |
|---|---|---|---|---|---|
| Adjusted profit | |||||
| Profit attributable to owners of the Company (“NPAT”)S$'000 | 6,618 | 6,220 | 398 | 6.4 | PDF p. 15 |
| Non-recurring IPO-related expensesS$'000 | 1,110 | – | 1,110 | NM | PDF p. 15 |
| Adjusted NPATS$'000 | 7,728 | 6,220 | 1,508 | 24.2 | PDF p. 15 |
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Definitions & sources
Original report: PDF p. 15 ↗
For illustrative purpose only, the presentation below shows what the profit attributable to owners of the Company would have been without the non-recurring IPO-related expenses.
NM: Not meaningful
Financial Review – Consolidated Statement of Financial Position
33 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group 31 December 2025 S$'000 | 2024Group 31 December 2024 S$'000 | Source |
|---|---|---|---|
| Non-current assets | |||
| Property, plant and equipmentS$'000 | 132 | 386 | PDF p. 16 |
| Investment propertiesS$'000 | 75,595 | 37,620 | PDF p. 16 |
| Intangible assetsS$'000 | 2,024 | 1,990 | PDF p. 16 |
| Investments in associatesS$'000 | 1,258 | 861 | PDF p. 16 |
| Other investmentsS$'000 | 2,355 | 1,916 | PDF p. 16 |
| Other receivablesS$'000 | 1,908 | 1,963 | PDF p. 16 |
| Total non-current assetsS$'000 | 83,272 | 44,736 | PDF p. 16 |
| Current assets | |||
| InventoriesS$'000 | 39 | 24 | PDF p. 16 |
| Trade and other receivablesS$'000 | 10,357 | 7,792 | PDF p. 16 |
| Other non-financial assetsS$'000 | 1,023 | 702 | PDF p. 16 |
| Cash and cash equivalentsS$'000 | 2,186 | 3,176 | PDF p. 16 |
| Total current assetsS$'000 | 13,605 | 11,694 | PDF p. 16 |
| Assets | |||
| Total assetsS$'000 | 96,877 | 56,430 | PDF p. 16 |
| Equity | |||
| Share capitalS$'000 | 15,580 | 9,200 | PDF p. 16 |
| Merger reserveS$'000 | (1,052) | (1,052) | PDF p. 16 |
| Retained earningsS$'000 | 12,423 | 5,805 | PDF p. 16 |
| Equity, attributable to owners of the CompanyS$'000 | 26,951 | 13,953 | PDF p. 16 |
| Non-controlling interestsS$'000 | (4) | (2) | PDF p. 16 |
| Total equityS$'000 | 26,947 | 13,951 | PDF p. 16 |
| Non-current liabilities | |||
| Deferred tax liabilitiesS$'000 | 2,658 | 866 | PDF p. 16 |
| ProvisionsS$'000 | 102 | 102 | PDF p. 16 |
| Other payablesS$'000 | 65 | 65 | PDF p. 16 |
| Lease liabilitiesS$'000 | 47,213 | 21,182 | PDF p. 16 |
| Other financial liabilitiesS$'000 | – | 259 | PDF p. 16 |
| Total non-current liabilitiesS$'000 | 50,038 | 22,474 | PDF p. 16 |
| Current liabilities | |||
| Income tax payableS$'000 | – | 36 | PDF p. 16 |
| Trade and other payablesS$'000 | 6,076 | 8,649 | PDF p. 16 |
| Lease liabilitiesS$'000 | 12,909 | 10,134 | PDF p. 16 |
| Other financial liabilitiesS$'000 | 45 | 209 | PDF p. 16 |
| Other liabilitiesS$'000 | 862 | 977 | PDF p. 16 |
| Total current liabilitiesS$'000 | 19,892 | 20,005 | PDF p. 16 |
| Liabilities | |||
| Total liabilitiesS$'000 | 69,930 | 42,479 | PDF p. 16 |
| Equity and liabilities | |||
| Total equity and liabilitiesS$'000 | 96,877 | 56,430 | PDF p. 16 |
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Definitions & sources
Original report: PDF p. 16 ↗
Financial Review – Revenue by segment
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group FY2025 S$'000 | 2024Group FY2024 S$'000 | Source |
|---|---|---|---|
| Revenue by segment | |||
| Community driven staysS$'000 | 25,172 | 17,738 | PDF p. 17 |
| InvestmentsS$'000 | – | 470 | PDF p. 17 |
| Other property-related servicesS$'000 | 1,800 | 733 | PDF p. 17 |
| TotalS$'000 | 26,972 | 18,941 | PDF p. 17 |
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Definitions & sources
Original report: PDF p. 17 ↗
Note 11 Earnings per share (Group)
3 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group 2025 | 2024Group 2024 | Source |
|---|---|---|---|
| Earnings per share | |||
| Profit, net of tax ($’000)$'000 | 6,618 | 6,220 | PDF p. 83 |
| Weighted average number of ordinary shares | |||
| Basic and diluted (’000)'000 shares | 315,232 | 276,351 | PDF p. 83 |
| Earnings per share | |||
| Basic and diluted earnings per share (cents)cents | 2.10 | 2.25 | PDF p. 83 |
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Definitions & sources
Original report: PDF p. 83 ↗
Basic earnings per share is calculated by dividing the profit, net of tax attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the reporting year.
The weighted average number of ordinary shares is derived from the number of ordinary shares in issue by the Company, adjusted retrospectively for the effects of share-split disclosed in Note 23.
There are no potential dilutive ordinary shares during the reporting year ended 31 December 2025 (2024: Nil).
Where the money comes from
Segment information
By business
Segment information 20 lines
| Item / unit | 2025Community driven stays | 2025Investments | 2025Other property-related services | 2025Total | 2024Community driven stays | 2024Investments | 2024Other property-related services | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue and income$'000 | 25,172 | − | 1,800 | 26,972 | 17,738 | 470 | 733 | 18,941 | PDF p. 78PDF p. 79 |
| Segment results$'000 | 10,097 | 439 | 1,043 | 11,579 | 5,962 | 2,379 | 221 | 8,562 | PDF p. 78PDF p. 79 |
| Share of results of associates, net of tax$'000 | 197 | − | − | 197 | (69) | − | − | (69) | PDF p. 78PDF p. 79 |
| Non-recurring IPO expenses$'000 | (1,110) | − | − | (1,110) | PDF p. 78 | ||||
| Interest expenses$'000 | (2,274) | − | (19) | (2,293) | PDF p. 78 | ||||
| Operating results before tax$'000 | 6,910 | 439 | 1,024 | 8,373 | 4,547 | 2,379 | 188 | 7,114 | PDF p. 78PDF p. 79 |
| Other segment information | |||||||||
| Allowance for expected credit loss of trade receivables$'000 | (77) | − | − | (77) | (7) | − | − | (7) | PDF p. 78PDF p. 79 |
| Amortisation of intangible assets$'000 | (84) | − | − | (84) | (41) | − | − | (41) | PDF p. 78PDF p. 79 |
| Depreciation of property, plant and equipment$'000 | (282) | − | − | (282) | (295) | − | − | (295) | PDF p. 78PDF p. 79 |
| Loss on disposal of investment properties due to lease termination$'000 | (200) | − | − | (200) | PDF p. 78 | ||||
| Segment assets and liabilities | |||||||||
| Segment assets$'000 | 86,789 | 6,612 | 1,133 | 94,534 | 48,199 | 4,527 | 528 | 53,254 | PDF p. 78PDF p. 79 |
| Segment liabilities$'000 | 67,272 | − | − | 67,272 | 41,577 | − | − | 41,577 | PDF p. 78PDF p. 79 |
| Additions | |||||||||
| Property, plant and equipment$'000 | 28 | − | − | 28 | 487 | − | − | 487 | PDF p. 78PDF p. 79 |
| Intangible assets$'000 | 117 | − | − | 117 | 90 | − | − | 90 | PDF p. 78PDF p. 79 |
| Investment properties$'000 | 43,038 | − | − | 43,038 | 20,268 | − | − | 20,268 | PDF p. 78PDF p. 79 |
| Advances to investees companies$'000 | − | 1,646 | − | 1,646 | − | 2,490 | − | 2,490 | PDF p. 78PDF p. 79 |
| Income statement | |||||||||
| Interest expense$'000 | (1,346) | − | (33) | (1,379) | PDF p. 79 | ||||
| Other segment information | |||||||||
| Gain on remeasurement of property, plant and equipment$'000 | 28 | − | − | 28 | PDF p. 79 | ||||
| Gain on disposal of property, plant and equipment$'000 | 33 | − | − | 34 | PDF p. 79 | ||||
| Additions | |||||||||
| Other investments$'000 | − | 4 | − | 4 | PDF p. 79 | ||||
Notes
Blank values mean the cell is not printed (total column only). Segment profit or loss before tax is used to measure performance. Please also refer to Note 5.
Blank values mean the cell is not printed (total column only). Printed total for gain on disposal of PPE is 34 versus 33 in the segment column, as printed.
Debt
Borrowings
Borrowing notes 2 tables
Other financial liabilities
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Non-current | |||
| Bank loan$'000 | − | 259 | PDF p. 99 |
| Current | |||
| Bank loan$'000 | − | 97 | PDF p. 99 |
| Real world asset tokens$'000 | 45 | 112 | PDF p. 99 |
| Subtotal$'000 | 45 | 209 | PDF p. 99 |
| Total | |||
| Total other financial liabilities$'000 | 45 | 468 | PDF p. 99 |
Notes
The bank loan was at fixed interest rate at 8.25% per annum. It was unsecured and guaranteed by certain Directors of the Company. The loan had been repaid in full during the reporting year.
The Group issued real world asset tokens to raise funds for financing of renovation costs of a right-of-use asset. The funds collected is repayable in seven quarterly instalments.
Lease liabilities
| Item / unit | 2025Group, $'000 | 2024Group, $'000 | 2025Company, $'000 | 2024Company, $'000 | Source |
|---|---|---|---|---|---|
| Lease liabilities | |||||
| Non-current$'000 | 47,213 | 21,182 | − | 37 | PDF p. 98 |
| Current$'000 | 12,909 | 10,134 | 3 | 201 | PDF p. 98 |
| Total lease liabilities$'000 | 60,122 | 31,316 | 3 | 238 | PDF p. 98 |
Notes
Weighted average incremental borrowing rate applied to lease liabilities during the reporting year ranged from 4% to 5.5% (2024: 5.5%).
In the previous reporting year end, lease liabilities amounting to $37,000 were secured by a charge over the Group’s motor vehicles (see Note 12) and guaranteed by a director of the Company.
Lease liabilities payable to related parties: $35,770,000 (2024: $13,793,000).
Total row has no printed label; label supplied descriptively.
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 amount of retained earnings and cash flow, actual and projected business and financial performance, projected levels of capital expenditure and other investment plans, working capital needs and general financial conditions, and other factors as the Board may deem appropriate. | Company | PDF p. 51 |
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 |
|---|---|---|---|
| Audit firm | RSM SG Assurance LLP | Group | PDF p. 62 |
| Engagement partner | Chan Weng Keen | Group | PDF p. 62 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 (the “Act”) and the Singapore Financial Reporting Standards (International) (“SFRS(I)”) so as to give a true and fair view | Group and Company, year ended 31 December 2025 | PDF p. 59 |
Key audit matters
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Fair value of investment properties | Fair value of investment properties | Group | PDF p. 59 |
| Fair value of investment properties - description | The right-of-use assets related to community living space are classified as investment properties and measured at fair value with changes in fair value being recognised in profit or loss. | Group | PDF p. 59 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Basis of preparation - going concern | The Directors have prepared these consolidated financial statements on a going concern basis | Group | PDF p. 67 |
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.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.