Venture V03
Financials
Annual Report 2025
Explore the statements
12 tablesStatements of Financial Position as at 31 December 2025
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Current assets | |||||
| Cash and bank balances$’000 | 1,283,570 | 1,316,706 | 283,081 | 299,513 | PDF p. 99 |
| Trade receivables$’000 | 608,783 | 667,589 | 9,110 | 10,684 | PDF p. 99 |
| Other receivables and prepayments$’000 | 39,793 | 40,910 | 2,146 | 4,075 | PDF p. 99 |
| Contract assets$’000 | 13,701 | 14,933 | 2,878 | 2,997 | PDF p. 99 |
| Inventories$’000 | 695,841 | 686,431 | 52,864 | 59,566 | PDF p. 99 |
| Trade receivables due from subsidiaries$’000 | – | – | 87,228 | 101,820 | PDF p. 99 |
| Other receivables due from subsidiaries$’000 | – | – | 630 | 1,444 | PDF p. 99 |
| Total current assets$’000 | 2,641,688 | 2,726,569 | 437,937 | 480,099 | PDF p. 99 |
| Non-current assets | |||||
| Investments in subsidiaries$’000 | – | – | 1,229,819 | 1,229,819 | PDF p. 99 |
| Investment in associate$’000 | 1,054 | 978 | – | – | PDF p. 99 |
| Other financial assets$’000 | 45,224 | 41,684 | 16,591 | 12,710 | PDF p. 99 |
| Property, plant and equipment$’000 | 244,187 | 249,589 | 31,658 | 31,834 | PDF p. 99 |
| Right-of-use assets$’000 | 17,690 | 28,551 | 5,335 | 11,069 | PDF p. 99 |
| Intangible assets$’000 | 3,090 | 661 | 124 | 107 | PDF p. 99 |
| Goodwill$’000 | 639,708 | 639,708 | – | – | PDF p. 99 |
| Deferred tax assets$’000 | 9,578 | 12,206 | 560 | 560 | PDF p. 99 |
| Total non-current assets$’000 | 960,531 | 973,377 | 1,284,087 | 1,286,099 | PDF p. 99 |
| Total assets | |||||
| Total assets$’000 | 3,602,219 | 3,699,946 | 1,722,024 | 1,766,198 | PDF p. 99 |
| Current liabilities | |||||
| Trade payables$’000 | 473,802 | 443,503 | 45,241 | 50,170 | PDF p. 100 |
| Other payables and accrued expenses$’000 | 171,012 | 189,103 | 26,350 | 29,630 | PDF p. 100 |
| Contract liabilities$’000 | 92,061 | 94,062 | 4,040 | 3,011 | PDF p. 100 |
| Lease liabilities$’000 | 8,609 | 11,832 | 4,534 | 6,936 | PDF p. 100 |
| Trade payables due to subsidiaries$’000 | – | – | 20,965 | 13,122 | PDF p. 100 |
| Other payables due to subsidiaries$’000 | – | – | 17,445 | 17,909 | PDF p. 100 |
| Income tax payable$’000 | 46,074 | 46,664 | 8,352 | 8,888 | PDF p. 100 |
| Total current liabilities$’000 | 791,558 | 785,164 | 126,927 | 129,666 | PDF p. 100 |
| Non-current liabilities | |||||
| Deferred tax liabilities$’000 | 1,804 | 2,037 | – | – | PDF p. 100 |
| Lease liabilities$’000 | 11,024 | 18,421 | 2,037 | 5,454 | PDF p. 100 |
| Total non-current liabilities$’000 | 12,828 | 20,458 | 2,037 | 5,454 | PDF p. 100 |
| Equity | |||||
| Share capital$’000 | 801,969 | 820,009 | 801,969 | 820,009 | PDF p. 100 |
| Treasury shares$’000 | (21,159) | (22,292) | (21,159) | (22,292) | PDF p. 100 |
| Share-based awards reserve$’000 | 5,879 | 5,507 | 5,879 | 5,507 | PDF p. 100 |
| Investments revaluation reserve$’000 | 9,505 | 4,545 | 10,809 | 6,927 | PDF p. 100 |
| Foreign exchange translation reserve$’000 | (178,329) | (95,805) | – | – | PDF p. 100 |
| Other reserves$’000 | 3,622 | 2,648 | (7,726) | (7,551) | PDF p. 100 |
| Accumulated profits$’000 | 2,171,254 | 2,175,201 | 803,288 | 828,478 | PDF p. 100 |
| Equity attributable to owners of the Company$’000 | 2,792,741 | 2,889,813 | 1,593,060 | 1,631,078 | PDF p. 100 |
| Non-controlling interests$’000 | 5,092 | 4,511 | – | – | PDF p. 100 |
| Total equity$’000 | 2,797,833 | 2,894,324 | 1,593,060 | 1,631,078 | PDF p. 100 |
| Total liabilities and equity | |||||
| Total liabilities and equity$’000 | 3,602,219 | 3,699,946 | 1,722,024 | 1,766,198 | PDF p. 100 |
Definitions & sources
Original report: PDF p. 99 ↗ PDF p. 100 ↗
Amounts in $’000. The Group and Company columns each report 2025 and 2024.
Consolidated Statement of Profit or Loss and Other Comprehensive Income
26 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Revenue$’000 | 2,534,517 | 2,735,927 | PDF p. 101 |
| Changes in finished goods, work in progress and raw materials used$’000 | (1,832,846) | (2,024,780) | PDF p. 101 |
| Employee benefits expense$’000 | (315,820) | (313,562) | PDF p. 101 |
| Depreciation and amortisation expense$’000 | (33,884) | (32,775) | PDF p. 101 |
| Research and development expense$’000 | (19,019) | (20,741) | PDF p. 101 |
| Foreign currency exchange gain$’000 | 459 | 2,683 | PDF p. 101 |
| Other operating expenses$’000 | (90,099) | (85,651) | PDF p. 101 |
| Other income$’000 | 2,761 | 3,818 | PDF p. 101 |
| Investment revenue$’000 | 39,086 | 42,551 | PDF p. 101 |
| Finance costs$’000 | (983) | (1,137) | PDF p. 101 |
| Share of profit of associate$’000 | 241 | 254 | PDF p. 101 |
| Profit before income tax$’000 | 284,413 | 306,587 | PDF p. 101 |
| Income tax expense$’000 | (56,778) | (60,837) | PDF p. 101 |
| Profit for the year$’000 | 227,635 | 245,750 | PDF p. 101 |
| Fair value gain on other financial assets, through other comprehensive income (FVTOCI)$’000 | 4,960 | 2,209 | PDF p. 101 |
| Exchange differences on translation of foreign operations$’000 | (82,620) | 44,240 | PDF p. 101 |
| Other comprehensive income for the year, net of tax$’000 | (77,660) | 46,449 | PDF p. 101 |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR$’000 | 149,975 | 292,199 | PDF p. 101 |
| Profit attributable to | |||
| Owners of the Company$’000 | 226,958 | 245,029 | PDF p. 101 |
| Non-controlling interests$’000 | 677 | 721 | PDF p. 101 |
| Subtotal$’000 | 227,635 | 245,750 | PDF p. 101 |
| Total comprehensive income attributable to | |||
| Owners of the Company$’000 | 149,394 | 291,435 | PDF p. 101 |
| Non-controlling interests$’000 | 581 | 764 | PDF p. 101 |
| Subtotal$’000 | 149,975 | 292,199 | PDF p. 101 |
| Basic earnings per sharecents per share | 78.8 | 84.5 | PDF p. 101 |
| Fully diluted earnings per sharecents per share | 78.7 | 84.4 | PDF p. 101 |
Definitions & sources
Original report: PDF p. 101 ↗
Amounts in $’000 except basic and fully diluted earnings per share, reported in cents per share.
Statements of Changes in Equity – Group – FY2024
14 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group; Share capital | 2024Group; Treasury shares | 2024Group; Share-based awards reserve | 2024Group; Investments revaluation reserve | 2024Group; Foreign exchange translation reserve | 2024Group; Other reserves | 2024Group; Accumulated profits | 2024Group; Equity attributable to owners | 2024Group; Non-controlling interests | 2024Group; Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||||
| Balance at 1 January 2024$’000 | 838,055 | (22,429) | 5,920 | 2,336 | (140,002) | 1,533 | 2,148,694 | 2,834,107 | 3,747 | 2,837,854 | PDF p. 102 |
| Profit for the year$’000 | – | – | – | – | – | – | 245,029 | 245,029 | 721 | 245,750 | PDF p. 102 |
| Other comprehensive income for the year$’000 | – | – | – | 2,209 | 44,197 | – | – | 46,406 | 43 | 46,449 | PDF p. 102 |
| Total$’000 | – | – | – | 2,209 | 44,197 | – | 245,029 | 291,435 | 764 | 292,199 | PDF p. 102 |
| Shares purchased and cancelled$’000 | (18,046) | – | – | – | – | – | – | (18,046) | – | (18,046) | PDF p. 102 |
| Purchase of treasury shares$’000 | – | (1,815) | – | – | – | – | – | (1,815) | – | (1,815) | PDF p. 102 |
| Treasury shares reissued pursuant to equity compensation plans$’000 | – | 1,952 | (1,707) | – | – | (245) | – | – | – | – | PDF p. 102 |
| Share options lapsed$’000 | – | – | (375) | – | – | – | 375 | – | – | – | PDF p. 102 |
| Recognition of share-based payments$’000 | – | – | 1,669 | – | – | – | – | 1,669 | – | 1,669 | PDF p. 102 |
| Final tax-exempt dividend paid in respect of the previous financial year$’000 | – | – | – | – | – | – | (145,042) | (145,042) | – | (145,042) | PDF p. 102 |
| Interim tax-exempt dividend paid in respect of the current financial year$’000 | – | – | – | – | – | – | (72,495) | (72,495) | – | (72,495) | PDF p. 102 |
| Appropriation to reserve fund$’000 | – | – | – | – | – | 1,360 | (1,360) | – | – | – | PDF p. 102 |
| Total$’000 | (18,046) | 137 | (413) | – | – | 1,115 | (218,522) | (235,729) | – | (235,729) | PDF p. 102 |
| Balance at 31 December 2024$’000 | 820,009 | (22,292) | 5,507 | 4,545 | (95,805) | 2,648 | 2,175,201 | 2,889,813 | 4,511 | 2,894,324 | PDF p. 102 |
Definitions & sources
Original report: PDF p. 102 ↗
Component columns represent equity accounts and not fiscal-year columns; row captions supply movement dates. Amounts in $’000.
Original physical page 102 shows sequential FY2024 and FY2025 movement blocks. Columns refer to FY2024; the original FY2024 closing balance is the FY2025 opening balance. No duplicate opening row added.
Statements of Changes in Equity – Group – FY2025
12 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; Share capital | 2025Group; Treasury shares | 2025Group; Share-based awards reserve | 2025Group; Investments revaluation reserve | 2025Group; Foreign exchange translation reserve | 2025Group; Other reserves | 2025Group; Accumulated profits | 2025Group; Equity attributable to owners | 2025Group; Non-controlling interests | 2025Group; Total equity | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | |||||||||||
| Profit for the year$’000 | – | – | – | – | – | – | 226,958 | 226,958 | 677 | 227,635 | PDF p. 102 |
| Other comprehensive income for the year$’000 | – | – | – | 4,960 | (82,524) | – | – | (77,564) | (96) | (77,660) | PDF p. 102 |
| Total$’000 | – | – | – | 4,960 | (82,524) | – | 226,958 | 149,394 | 581 | 149,975 | PDF p. 102 |
| Shares purchased and cancelled$’000 | (18,040) | – | – | – | – | – | – | (18,040) | – | (18,040) | PDF p. 102 |
| Treasury shares reissued pursuant to equity compensation plans$’000 | – | 1,133 | (958) | – | – | (175) | – | – | – | – | PDF p. 102 |
| Share options lapsed$’000 | – | – | (394) | – | – | – | 394 | – | – | – | PDF p. 102 |
| Recognition of share-based payments$’000 | – | – | 1,724 | – | – | – | – | 1,724 | – | 1,724 | PDF p. 102 |
| Final tax-exempt dividend paid in respect of the previous financial year$’000 | – | – | – | – | – | – | (143,840) | (143,840) | – | (143,840) | PDF p. 102 |
| Interim / special tax-exempt dividend paid in respect of the current financial year$’000 | – | – | – | – | – | – | (86,310) | (86,310) | – | (86,310) | PDF p. 102 |
| Appropriation to reserve fund$’000 | – | – | – | – | – | 1,149 | (1,149) | – | – | – | PDF p. 102 |
| Total$’000 | (18,040) | 1,133 | 372 | – | – | 974 | (230,905) | (246,466) | – | (246,466) | PDF p. 102 |
| Balance at 31 December 2025$’000 | 801,969 | (21,159) | 5,879 | 9,505 | (178,329) | 3,622 | 2,171,254 | 2,792,741 | 5,092 | 2,797,833 | PDF p. 102 |
Definitions & sources
Original report: PDF p. 102 ↗
Component columns represent equity accounts and not fiscal-year columns; row captions supply movement dates. Amounts in $’000.
Original physical page 102 shows sequential FY2024 and FY2025 movement blocks. Columns refer to FY2025; the original FY2024 closing balance is the FY2025 opening balance. No duplicate opening row added.
Statements of Changes in Equity – Company – FY2024
13 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Company; Share capital | 2024Company; Treasury shares | 2024Company; Share-based awards reserve | 2024Company; Investments revaluation reserve | 2024Company; Other reserves | 2024Company; Accumulated profits | 2024Company; Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| Company | ||||||||
| Balance at 1 January 2024$’000 | 838,055 | (22,429) | 5,920 | 3,397 | (7,306) | 826,980 | 1,644,617 | PDF p. 103 |
| Profit for the year$’000 | – | – | – | – | – | 218,660 | 218,660 | PDF p. 103 |
| Other comprehensive income for the year$’000 | – | – | – | 3,530 | – | – | 3,530 | PDF p. 103 |
| Total$’000 | – | – | – | 3,530 | – | 218,660 | 222,190 | PDF p. 103 |
| Shares purchased and cancelled$’000 | (18,046) | – | – | – | – | – | (18,046) | PDF p. 103 |
| Purchase of treasury shares$’000 | – | (1,815) | – | – | – | – | (1,815) | PDF p. 103 |
| Treasury shares reissued pursuant to equity compensation plans$’000 | – | 1,952 | (1,707) | – | (245) | – | – | PDF p. 103 |
| Share options lapsed$’000 | – | – | (375) | – | – | 375 | – | PDF p. 103 |
| Recognition of share-based payments$’000 | – | – | 1,669 | – | – | – | 1,669 | PDF p. 103 |
| Final tax-exempt dividend paid in respect of the previous financial year$’000 | – | – | – | – | – | (145,042) | (145,042) | PDF p. 103 |
| Interim tax-exempt dividend paid in respect of the current financial year$’000 | – | – | – | – | – | (72,495) | (72,495) | PDF p. 103 |
| Total$’000 | (18,046) | 137 | (413) | – | (245) | (217,162) | (235,729) | PDF p. 103 |
| Balance at 31 December 2024$’000 | 820,009 | (22,292) | 5,507 | 6,927 | (7,551) | 828,478 | 1,631,078 | PDF p. 103 |
Definitions & sources
Original report: PDF p. 103 ↗
Component columns represent equity accounts and not fiscal-year columns; row captions supply movement dates. Amounts in $’000.
Original physical page 103 shows sequential FY2024 and FY2025 movement blocks. Columns refer to FY2024; the original FY2024 closing balance is the FY2025 opening balance. No duplicate opening row added.
Statements of Changes in Equity – Company – FY2025
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Company; Share capital | 2025Company; Treasury shares | 2025Company; Share-based awards reserve | 2025Company; Investments revaluation reserve | 2025Company; Other reserves | 2025Company; Accumulated profits | 2025Company; Total equity | Source |
|---|---|---|---|---|---|---|---|---|
| Company | ||||||||
| Profit for the year$’000 | – | – | – | – | – | 204,566 | 204,566 | PDF p. 103 |
| Other comprehensive income for the year$’000 | – | – | – | 3,882 | – | – | 3,882 | PDF p. 103 |
| Total$’000 | – | – | – | 3,882 | – | 204,566 | 208,448 | PDF p. 103 |
| Shares purchased and cancelled$’000 | (18,040) | – | – | – | – | – | (18,040) | PDF p. 103 |
| Treasury shares reissued pursuant to equity compensation plans$’000 | – | 1,133 | (958) | – | (175) | – | – | PDF p. 103 |
| Share options lapsed$’000 | – | – | (394) | – | – | 394 | – | PDF p. 103 |
| Recognition of share-based payments$’000 | – | – | 1,724 | – | – | – | 1,724 | PDF p. 103 |
| Final tax-exempt dividend paid in respect of the previous financial year$’000 | – | – | – | – | – | (143,840) | (143,840) | PDF p. 103 |
| Interim / special tax-exempt dividend paid in respect of the current financial year$’000 | – | – | – | – | – | (86,310) | (86,310) | PDF p. 103 |
| Total$’000 | (18,040) | 1,133 | 372 | – | (175) | (229,756) | (246,466) | PDF p. 103 |
| Balance at 31 December 2025$’000 | 801,969 | (21,159) | 5,879 | 10,809 | (7,726) | 803,288 | 1,593,060 | PDF p. 103 |
Definitions & sources
Original report: PDF p. 103 ↗
Component columns represent equity accounts and not fiscal-year columns; row captions supply movement dates. Amounts in $’000.
Original physical page 103 shows sequential FY2024 and FY2025 movement blocks. Columns refer to FY2025; the original FY2024 closing balance is the FY2025 opening balance. No duplicate opening row added.
Consolidated Statement of Cash Flows
40 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Operating activities | |||
| Profit before income tax$’000 | 284,413 | 306,587 | PDF p. 104 |
| Share of profit of associate$’000 | (241) | (254) | PDF p. 104 |
| Allowance for inventory provisions$’000 | 241 | 1,074 | PDF p. 104 |
| Depreciation of property, plant and equipment$’000 | 21,383 | 20,377 | PDF p. 104 |
| Depreciation of right-of-use assets$’000 | 12,115 | 11,856 | PDF p. 104 |
| Amortisation of intangible assets$’000 | 386 | 542 | PDF p. 104 |
| Net re-measurement of loss allowance$’000 | 62 | (161) | PDF p. 104 |
| Interest income$’000 | (39,086) | (42,551) | PDF p. 104 |
| Dividend income$’000 | (2,313) | (1,691) | PDF p. 104 |
| Interest expense$’000 | 983 | 1,137 | PDF p. 104 |
| Share-based payments expense$’000 | 1,724 | 1,669 | PDF p. 104 |
| Fair value adjustment on derivative instrument$’000 | (743) | 1,438 | PDF p. 104 |
| Loss on disposal of plant and equipment, net$’000 | 82 | 27 | PDF p. 104 |
| Operating profit before working capital changes$’000 | 279,006 | 300,050 | PDF p. 104 |
| Trade receivables$’000 | 27,875 | 28,910 | PDF p. 104 |
| Other receivables, prepayments and contract assets$’000 | (6,417) | (1,017) | PDF p. 104 |
| Inventories$’000 | (37,133) | 153,533 | PDF p. 104 |
| Trade payables$’000 | 48,708 | 41,804 | PDF p. 104 |
| Other payables, accrued expenses and contract liabilities$’000 | (6,169) | 24,531 | PDF p. 104 |
| Cash generated from operations$’000 | 305,870 | 547,811 | PDF p. 104 |
| Interest paid$’000 | (983) | (1,137) | PDF p. 104 |
| Income tax paid$’000 | (53,352) | (64,164) | PDF p. 104 |
| Net cash from operating activities$’000 | 251,535 | 482,510 | PDF p. 104 |
| Investing activities | |||
| Interest received$’000 | 42,387 | 38,759 | PDF p. 104 |
| Dividend received from associate$’000 | 165 | 165 | PDF p. 104 |
| Dividend received from other equity investments$’000 | 2,313 | 1,691 | PDF p. 104 |
| Purchase of property, plant and equipment (Note A)$’000 | (25,242) | (16,554) | PDF p. 104 |
| Proceeds on disposal of plant and equipment$’000 | 83 | 102 | PDF p. 104 |
| Addition of intangible assets$’000 | (2,819) | (218) | PDF p. 104 |
| Purchase of other financial assets$’000 | – | (13,450) | PDF p. 104 |
| Net cash from investing activities$’000 | 16,887 | 10,495 | PDF p. 104 |
| Financing activities | |||
| Dividends paid$’000 | (230,150) | (217,537) | PDF p. 105 |
| Shares purchased and cancelled$’000 | (18,040) | (18,046) | PDF p. 105 |
| Repayments of lease liabilities (Note B)$’000 | (12,811) | (11,556) | PDF p. 105 |
| Purchase of treasury shares$’000 | – | (1,815) | PDF p. 105 |
| Net cash used in financing activities$’000 | (261,001) | (248,954) | PDF p. 105 |
| Cash and cash equivalents reconciliation | |||
| Net increase in cash and cash equivalents$’000 | 7,421 | 244,051 | PDF p. 105 |
| Cash and cash equivalents at beginning of year$’000 | 1,316,706 | 1,056,303 | PDF p. 105 |
| Effect of foreign exchange rate changes on the balance of cash held in foreign currencies$’000 | (40,557) | 16,352 | PDF p. 105 |
| Cash and cash equivalents at end of year (Note 6)$’000 | 1,283,570 | 1,316,706 | PDF p. 105 |
Definitions & sources
Original report: PDF p. 104 ↗ PDF p. 105 ↗
Amounts in $’000. Cash flow subtotal rows retain source signs. Note A excludes accrued capital expenditure of $1,732,000 from purchase of PPE; Note B reconciles lease-liability changes.
Five-Year Financial Highlights
11 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2021Group | 2022Group | 2023Group | 2024Group | 2025Group | Source |
|---|---|---|---|---|---|---|
| RevenueS$ million unless otherwise stated | 3,107.5 | 3,863.7 | 3,025.0 | 2,735.9 | 2,534.5 | PDF p. 19 |
| Profit Before TaxS$ million unless otherwise stated | 359.6 | 448.9 | 330.8 | 306.6 | 284.4 | PDF p. 19 |
| Profit Attributable to Owners of the CompanyS$ million unless otherwise stated | 312.1 | 369.6 | 270.0 | 245.0 | 227.0 | PDF p. 19 |
| Total AssetsS$ million unless otherwise stated | 3,635.3 | 3,751.4 | 3,554.8 | 3,699.9 | 3,602.2 | PDF p. 19 |
| Total LiabilitiesS$ million unless otherwise stated | 915.8 | 908.5 | 716.9 | 805.6 | 804.4 | PDF p. 19 |
| Equity Attributable to Owners of the CompanyS$ million unless otherwise stated | 2,716.4 | 2,839.7 | 2,834.1 | 2,889.8 | 2,792.7 | PDF p. 19 |
| Net Cash PositionS$ million unless otherwise stated | 807.9 | 812.6 | 1,056.3 | 1,316.7 | 1,283.6 | PDF p. 19 |
| Earnings Per Share (Singapore cents)1Singapore cents per share | 107.0 | 126.8 | 92.6 | 84.4 | 78.7 | PDF p. 19 |
| Net Asset Value Per Share (S$)S$ per share | 9.35 | 9.76 | 9.76 | 10.00 | 9.71 | PDF p. 19 |
| Dividend Per Share (Singapore cents)Singapore cents per share | 75.0 | 75.0 | 75.0 | 75.0 | 80.0 | PDF p. 19 |
| Key Ratios and Per Share Metrics | ||||||
| ROE (%) 2% | 11.8 | 13.3 | 9.5 | 8.6 | 8.0 | PDF p. 19 |
Definitions & sources
Original report: PDF p. 19 ↗
1. Earnings Per Share is on a fully diluted basis.
2. Return on Equity (ROE) is calculated using Profit Attributable to Owners of the Company/average Shareholders’ Equity.
Dividends paid or proposed in financial year 2025 (Note 33)
4 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Rate per ordinary share, S$ | 2025Total dividend, S$ | Source |
|---|---|---|---|
| Dividends declared and paid during FY2025 | |||
| a final one-tier tax-exempt dividend ofS$ per ordinary share; total S$ | 0.50 | 143,840,000 | PDF p. 164 |
| an interim one-tier tax-exempt dividend ofS$ per ordinary share; total S$ | 0.25 | 71,925,000 | PDF p. 164 |
| a special one-tier tax-exempt dividend ofS$ per ordinary share; total S$ | 0.05 | 14,385,000 | PDF p. 164 |
| Proposed final dividend for FY2025, subject to approval | |||
| a final one-tier tax-exempt dividend ofS$ per ordinary share; total S$ | 0.50 | 143,848,000 | PDF p. 164 |
Definitions & sources
Original report: PDF p. 164 ↗
Paid amounts are distinguished from proposed amounts. The FY2025 proposed final dividend was not accrued as a liability and requires shareholder approval at the 2026 AGM.
Dividends paid or proposed in financial year 2024 (Note 33)
2 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Rate per ordinary share, S$ | 2024Total dividend, S$ | Source |
|---|---|---|---|
| Dividends declared and paid during FY2024 | |||
| a final one-tier tax-exempt dividend ofS$ per ordinary share; total S$ | 0.50 | 145,042,000 | PDF p. 164 |
| an interim one-tier tax-exempt dividend ofS$ per ordinary share; total S$ | 0.25 | 72,495,000 | PDF p. 164 |
Definitions & sources
Original report: PDF p. 164 ↗
These dividends were declared and paid in the financial year ended 31 December 2024.
Changes in liabilities arising from financing activities – FY2025 (Note B)
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; 1 January | 2025Group; Net lease liabilities additions | 2025Group; Foreign exchange movement | 2025Group; Financing cash flows | 2025Group; 31 December | Source |
|---|---|---|---|---|---|---|
| Changes in liabilities arising from financing activities (Note B) | ||||||
| Lease liabilities (Note 21)$’000 | 30,253 | 2,020 | 171 | (12,811) | 19,633 | PDF p. 105 |
Definitions & sources
Original report: PDF p. 105 ↗
Source cash-flow Note B: opening balance, non-cash movements, financing cash flows, closing balance. Dashes remain source notation.
Changes in liabilities arising from financing activities – FY2024 (Note B)
1 metricsUnits appear below each metric. Scroll to compare years
| Metric / unit | 2024Group; 1 January | 2024Group; Net lease liabilities additions | 2024Group; Foreign exchange movement | 2024Group; Financing cash flows | 2024Group; 31 December | Source |
|---|---|---|---|---|---|---|
| Changes in liabilities arising from financing activities (Note B) | ||||||
| Lease liabilities (Note 21)$’000 | 27,526 | 14,038 | 245 | (11,556) | 30,253 | PDF p. 105 |
Definitions & sources
Original report: PDF p. 105 ↗
Source cash-flow Note B: opening balance, non-cash movements, financing cash flows, closing balance. Dashes remain source notation.
Where the money comes from
Segment information
By business
Group's revenue by Technology Domains 3 lines
| Item / unit | 2025$'000 | 2024$'000 | Source |
|---|---|---|---|
| Revenue by Technology Domains | |||
| Portfolio A(1)$'000 | 933,437 | 1,113,509 | PDF p. 163 |
| Portfolio B(2)$'000 | 1,601,080 | 1,622,418 | PDF p. 163 |
| Consolidated revenue$'000 | 2,534,517 | 2,735,927 | PDF p. 163 |
Notes
(1) Portfolio A comprised Life Science, Genomics, Molecular Diagnostics and Related Materials Technology, Medical Devices and Equipment, Healthcare & Wellness Technology, Lifestyle Consumer Technology, Health Improvement Products and Others.
(2) Portfolio B comprised Instrumentation, Test & Measurement Technology, Networking & Communications, Security & Safety, Building Automation, Industrial IOT, Fintech & Advanced Payment Systems, Computing & Productivity Systems, Advanced Industrial Technology, Semiconductor Related Products, Printing & Imaging, Related Components Technology and Others.
By geography
Geographical information: revenue from external customers and non-current assets 4 lines
| Item / unit | 2025Revenue from external customers, Group | 2024Revenue from external customers, Group | 2025Non-current assets, Group | 2024Non-current assets, Group | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| Singapore$'000 | 721,490 | 724,190 | 681,755 | 686,457 | PDF p. 164 |
| Asia-Pacific (excluding Singapore)$'000 | 1,715,573 | 1,872,874 | 170,968 | 175,924 | PDF p. 164 |
| Others$'000 | 97,454 | 138,863 | 51,952 | 56,128 | PDF p. 164 |
| Total$'000 | 2,534,517 | 2,735,927 | 904,675 | 918,509 | PDF p. 164 |
Notes
Segment assets are non-current assets excluding investment in associate, deferred tax assets and financial assets.
The Group operates in two principal geographical areas - Singapore (country of domicile) and Asia-Pacific (excluding Singapore).
The total revenue for the Group includes revenue from two customers (2024 : one customer) which individually makes up more than 10% of the Group’s total revenue.
Debt
Borrowings
Lease liabilities – maturity analysis and current/non-current split
| Item / unit | 2025The Group | 2024The Group | 2025The Company | 2024The Company | Source |
|---|---|---|---|---|---|
| Maturity analysis | |||||
| Within one year$'000 | 9,351 | 12,663 | 4,637 | 7,223 | PDF p. 153 |
| In the second to fifth year inclusive$'000 | 8,762 | 16,002 | 2,072 | 5,494 | PDF p. 153 |
| After five years$'000 | 6,444 | 6,001 | – | – | PDF p. 153 |
| Less: Unearned interest$'000 | (4,924) | (4,413) | (138) | (327) | PDF p. 153 |
| Analysed as | |||||
| Current$'000 | 8,609 | 11,832 | 4,534 | 6,936 | PDF p. 153 |
| Non-current$'000 | 11,024 | 18,421 | 2,037 | 5,454 | PDF p. 153 |
Notes
The Group and the Company do not face a significant liquidity risk with regard to its lease liabilities.
Maturity analysis is undiscounted; the total before unearned interest was 24,557 / 34,666 (Group 2025/2024) and 6,709 / 12,717 (Company 2025/2024); after unearned interest 19,633 / 30,253 and 6,571 / 12,390.
The report discloses no bank borrowings or other interest-bearing loans; lease liabilities are the only debt-like item.
Payout
Dividends & distributions
Dividend policy
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Payment of Dividends | The Company strives to pay dividends that are on par or higher than the previous year. Since FY2018, the Company has paid interim and final dividends. Barring unforeseen circumstances, the Company aims to declare dividends at sustainable rates considering a wide range of factors, including the Company’s capital structure, profitability, cash flow, future earnings, working capital and capital expenditure requirements, investment plans, as well as other corporate considerations. | Company | PDF p. 83 |
Dividends declared and proposed
| Item | Value | Period / scope | Source |
|---|---|---|---|
| a final one-tier tax-exempt dividend | 0.50 $ per share | FY2025 proposed final dividend, one-tier tax-exempt; subject to shareholder approval at 2026 AGM | PDF p. 164 |
| an interim one-tier tax-exempt dividend | 0.25 $ per share | FY2025 interim, one-tier tax-exempt, paid 12 September 2025 | PDF p. 164 |
| a special one-tier tax-exempt dividend | 0.05 $ per share | FY2025 special, one-tier tax-exempt, paid 12 September 2025 | PDF p. 164 |
| total dividend for FY2025 | 80 cents per share | FY2025 total (final 50 + interim 25 + special 5), one-tier tax-exempt | PDF p. 9 |
| a final one-tier tax-exempt dividend | 0.50 $ per share | FY2024 final, one-tier tax-exempt, paid in FY2025 (comparative year) | PDF p. 164 |
| an interim one-tier tax-exempt dividend | 0.25 $ per share | FY2024 interim, one-tier tax-exempt (comparative year) | PDF p. 164 |
| Notice of Record Date | 6 May 2026 | Proposed FY2025 final dividend; books closure at 5.00 p.m. · As at 2026-05-06 | PDF p. 191 |
| Payment of the dividend | 19 May 2026 | Proposed FY2025 final dividend, if approved at AGM on 24 April 2026 · As at 2026-05-19 | PDF p. 191 |
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 |
|---|---|---|---|
| Auditors | Deloitte & Touche LLP | Group and Company | PDF p. 94 |
| Engagement partner | Mr Tan Hon Chye | Group and Company | PDF p. 98 |
Going concern
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Going concern | None reported | Group | PDF p. 97 |
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.
Primary statements preserve Group and Company balance sheets, separate Group/Company equity movement components for FY2024 and FY2025, Group income/OCI and cash flows. Amounts are SGD thousands except the explicitly stated per-share units. No separate Company income, OCI or cash-flow statement is disclosed.
Five-year financial highlights cover FY2021–FY2025 in SGD millions; EPS and DPS are Singapore cents, NAV is S$ per share, ROE is %. Highlight EPS is fully diluted. Historical original-report backfill remains incomplete.
Original unlabelled attribution subtotals remain unlabelled and retain section context. The source Note B lease-liability opening/movement/closing reconcilations are retained for both FY2025 and FY2024.
Dividend Note 33 distinguishes dividends declared/paid during FY2025 from the proposed final dividend for FY2025, which requires AGM approval in 2026 and is not included as a liability. A final dividend paid during FY2025 relates to FY2024.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.