Annual Report 2025
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Income statement | |||
| RevenueS$'000 | 4,336 | 2,934 | PDF p. 103 |
| Cost of salesS$'000 | (3,787) | (2,780) | PDF p. 103 |
| Gross profitS$'000 | 549 | 154 | PDF p. 103 |
| Other income | |||
| OthersS$'000 | 251 | 59 | PDF p. 103 |
| Interest incomeS$'000 | - | 1 | PDF p. 103 |
| Expenses | |||
| Administrative expensesS$'000 | (1,353) | (1,859) | PDF p. 103 |
| Impairment loss on property, plant and equipmentS$'000 | - | (277) | PDF p. 103 |
| Finance costsS$'000 | (7) | (7) | PDF p. 103 |
| Income statement | |||
| Loss before income tax from continuing operationsS$'000 | (560) | (1,929) | PDF p. 103 |
| Income tax expensesS$'000 | - | - | PDF p. 103 |
| Loss for the year from continuing operationsS$'000 | (560) | (1,929) | PDF p. 103 |
| Discontinued operation | |||
| Profit/(Loss) from discontinued operationS$'000 | 70 | (688) | PDF p. 103 |
| Income statement | |||
| Total loss for the yearS$'000 | (490) | (2,617) | PDF p. 103 |
| Other comprehensive loss, net of tax | |||
| - Exchange differences on currency translation differencesS$'000 | (26) | - | PDF p. 103 |
| Other comprehensive loss for the year, net of taxS$'000 | (26) | - | PDF p. 103 |
| Comprehensive income | |||
| Total comprehensive loss for the yearS$'000 | (516) | (2,617) | PDF p. 103 |
| (Loss)/Profit for the year attributable to | |||
| Equity holders of the CompanyS$'000 | (504) | (2,476) | PDF p. 103 |
| Non-controlling interestsS$'000 | 14 | (141) | PDF p. 103 |
| SubtotalS$'000 | (490) | (2,617) | PDF p. 103 |
| Total comprehensive (loss)/income for the year attributable to | |||
| Equity holders of the CompanyS$'000 | (530) | (2,476) | PDF p. 103 |
| Non-controlling interestsS$'000 | 14 | (141) | PDF p. 103 |
| SubtotalS$'000 | (516) | (2,617) | PDF p. 103 |
| Loss per share | |||
| From continuing and discontinued operationscents per share | (0.27) | (1.52) | PDF p. 103 |
| From continuing operationscents per share | (0.30) | (1.19) | PDF p. 103 |
Original report: PDF p. 103 ↗
Basic and diluted loss per share (cents per share) attributed to equity holders of the Company.
The accompanying notes form an integral part of these financial statements
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current Assets | |||||
| Property, plant and equipmentS$'000 | 44 | 482 | 1 | 4 | PDF p. 104 |
| Investments in subsidiariesS$'000 | - | - | - | - | PDF p. 104 |
| SubtotalS$'000 | 44 | 482 | 1 | 4 | PDF p. 104 |
| Current Assets | |||||
| InventoriesS$'000 | - | - | - | - | PDF p. 104 |
| Trade and other receivablesS$'000 | 2,264 | 179 | 14 | 84 | PDF p. 104 |
| Cash and cash equivalentsS$'000 | 198 | 1,467 | 3 | 5 | PDF p. 104 |
| Assets of disposal group classified as held for saleS$'000 | 8 | - | - | - | PDF p. 104 |
| Total Current AssetsS$'000 | 2,470 | 1,646 | 17 | 89 | PDF p. 104 |
| Assets | |||||
| Total AssetsS$'000 | 2,514 | 2,128 | 18 | 93 | PDF p. 104 |
| Equity attributable to owners of the Company | |||||
| Share capitalS$'000 | 190,510 | 189,710 | 190,510 | 189,710 | PDF p. 104 |
| ReservesS$'000 | (325) | (299) | - | - | PDF p. 104 |
| Accumulated lossesS$'000 | (190,599) | (190,095) | (191,965) | (191,110) | PDF p. 104 |
| SubtotalS$'000 | (414) | (684) | (1,455) | (1,400) | PDF p. 104 |
| Equity | |||||
| Non-controlling interestS$'000 | (983) | (997) | - | - | PDF p. 104 |
| Total EquityS$'000 | (1,397) | (1,681) | (1,455) | (1,400) | PDF p. 104 |
Original report: PDF p. 104 ↗
The accompanying notes form an integral part of these financial statements
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | 2025Company | 2024Company | Source |
|---|---|---|---|---|---|
| Non-current Liabilities | |||||
| ProvisionsS$'000 | - | - | - | - | PDF p. 105 |
| Lease liabilitiesS$'000 | - | 124 | - | - | PDF p. 105 |
| SubtotalS$'000 | - | 124 | - | - | PDF p. 105 |
| Current Liabilities | |||||
| Contract liabilitiesS$'000 | - | 1,358 | - | - | PDF p. 105 |
| Trade and other payablesS$'000 | 3,753 | 2,240 | 1,473 | 1,493 | PDF p. 105 |
| Lease liabilitiesS$'000 | - | 87 | - | - | PDF p. 105 |
| Liabilities directly associated with disposal group classified as held for saleS$'000 | 158 | - | - | - | PDF p. 105 |
| SubtotalS$'000 | 3,911 | 3,685 | 1,473 | 1,493 | PDF p. 105 |
| Liabilities | |||||
| Total LiabilitiesS$'000 | 3,911 | 3,809 | 1,473 | 1,493 | PDF p. 105 |
| Equity and Liabilities | |||||
| Total Equity and LiabilitiesS$'000 | 2,514 | 2,128 | 18 | 93 | PDF p. 105 |
Original report: PDF p. 105 ↗
The accompanying notes form an integral part of these financial statements
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 Dec 2025, S$'000 | 2024Group, year ended 31 Dec 2024, S$'000 | Source |
|---|---|---|---|
| Income | |||
| RevenueS$'000 | 4,336 | 2,934 | PDF p. 103 |
| Cost of salesS$'000 | (3,787) | (2,780) | PDF p. 103 |
| Gross profitS$'000 | 549 | 154 | PDF p. 103 |
| Other income | |||
| OthersS$'000 | 251 | 59 | PDF p. 103 |
| Interest incomeS$'000 | - | 1 | PDF p. 103 |
| Expenses | |||
| Administrative expensesS$'000 | (1,353) | (1,859) | PDF p. 103 |
| Impairment loss on property, plant and equipmentS$'000 | - | (277) | PDF p. 103 |
| Finance costsS$'000 | (7) | (7) | PDF p. 103 |
| Income | |||
| Loss before income tax from continuing operationsS$'000 | (560) | (1,929) | PDF p. 103 |
| Income tax expensesS$'000 | - | - | PDF p. 103 |
| Loss for the year from continuing operationsS$'000 | (560) | (1,929) | PDF p. 103 |
| Discontinued operation | |||
| Profit/(Loss) from discontinued operationS$'000 | 70 | (688) | PDF p. 103 |
| Income | |||
| Total loss for the yearS$'000 | (490) | (2,617) | PDF p. 103 |
| Other comprehensive loss, net of tax | |||
| - Exchange differences on currency translation differencesS$'000 | (26) | - | PDF p. 103 |
| Other comprehensive loss for the year, net of taxS$'000 | (26) | - | PDF p. 103 |
| Comprehensive income | |||
| Total comprehensive loss for the yearS$'000 | (516) | (2,617) | PDF p. 103 |
| (Loss)/Profit for the year attributable to | |||
| Equity holders of the CompanyS$'000 | (504) | (2,476) | PDF p. 103 |
| Non-controlling interestsS$'000 | 14 | (141) | PDF p. 103 |
| Total comprehensive (loss)/income for the year attributable to | |||
| Equity holders of the CompanyS$'000 | (530) | (2,476) | PDF p. 103 |
| Non-controlling interestsS$'000 | 14 | (141) | PDF p. 103 |
| Loss per share | |||
| From continuing and discontinued operationscents per share | (0.27) | (1.52) | PDF p. 103 |
| From continuing operationscents per share | (0.30) | (1.19) | PDF p. 103 |
Original report: PDF p. 103 ↗
Note column references omitted from values. Loss per share in cents per share.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, Share capital, S$'000 | 2025Group, Translation reserve, S$'000 | 2025Group, Other reserves, S$'000 | 2025Group, Accumulated losses, S$'000 | 2025Group, Total attributable to equity holders of the Company, S$'000 | 2025Group, Non-controlling interest, S$'000 | 2025Group, Total Equity, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|
| 2025 | ||||||||
| Balance at 1 January 2025S$'000 | 189,710 | 20 | (319) | (190,095) | (684) | (997) | (1,681) | PDF p. 106 |
| (Loss)/Profit for the yearS$'000 | - | - | - | (504) | (504) | 14 | (490) | PDF p. 106 |
| Total comprehensive (loss)/income for the yearS$'000 | - | (26) | - | (504) | (530) | 14 | (516) | PDF p. 106 |
| Issuance of ordinary sharesS$'000 | 800 | - | - | - | 800 | - | 800 | PDF p. 106 |
| Balance at 31 December 2025S$'000 | 190,510 | (6) | (319) | (190,599) | (414) | (983) | (1,397) | PDF p. 106 |
Original report: PDF p. 106 ↗
Column order: Share capital, Translation reserve, Other reserves, Accumulated losses, Total, Non-controlling interest, Total Equity. No separate Company statement of changes in equity is printed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2024Group, Share capital, S$'000 | 2024Group, Translation reserve, S$'000 | 2024Group, Other reserves, S$'000 | 2024Group, Accumulated losses, S$'000 | 2024Group, Total attributable to equity holders of the Company, S$'000 | 2024Group, Non-controlling interest, S$'000 | 2024Group, Total Equity, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|
| 2024 | ||||||||
| Balance at 1 January 2024S$'000 | 189,134 | 20 | (319) | (187,619) | 1,216 | (856) | 360 | PDF p. 106 |
| Loss for the yearS$'000 | - | - | - | (2,476) | (2,476) | (141) | (2,617) | PDF p. 106 |
| Other comprehensive income, net of taxS$'000 | - | - | - | - | - | - | - | PDF p. 106 |
| Total comprehensive loss for the yearS$'000 | - | - | - | (2,476) | (2,476) | (141) | (2,617) | PDF p. 106 |
| Issuance of ordinary sharesS$'000 | 576 | - | - | - | 576 | - | 576 | PDF p. 106 |
| Balance at 31 December 2024S$'000 | 189,710 | 20 | (319) | (190,095) | (684) | (997) | (1,681) | PDF p. 106 |
Original report: PDF p. 106 ↗
Comparative year 2024 block of the consolidated statement.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, year ended 31 Dec 2025, S$'000 | 2024Group, year ended 31 Dec 2024, S$'000 | Source |
|---|---|---|---|
| Operating Activities | |||
| Loss before income tax, from continuing operationsS$'000 | (560) | (1,929) | PDF p. 107 |
| Profit/(Loss) before income tax, from discontinued operationS$'000 | 70 | (688) | PDF p. 107 |
| Operating Activities - Adjustments | |||
| Depreciation of property, plant and equipmentS$'000 | 100 | 100 | PDF p. 107 |
| Impairment loss on property, plant and equipmentS$'000 | - | 775 | PDF p. 107 |
| Gain on disposal of property, plant and equipmentS$'000 | (239) | - | PDF p. 107 |
| Property, plant and equipment written offS$'000 | - | 1 | PDF p. 107 |
| Gain on termination of right-of-use assetsS$'000 | (6) | - | PDF p. 107 |
| Interest incomeS$'000 | - | (1) | PDF p. 107 |
| Interest expenseS$'000 | 7 | 7 | PDF p. 107 |
| Operating Activities | |||
| Operating cash flows before changes in working capitalS$'000 | (628) | (1,735) | PDF p. 107 |
| Operating Activities - Changes in working capital | |||
| Trade and other receivablesS$'000 | (1,708) | 33 | PDF p. 107 |
| Trade and other payables and contract liabilitiesS$'000 | (62) | 1,455 | PDF p. 107 |
| Operating Activities | |||
| Cash used in operating activitiesS$'000 | (2,398) | (247) | PDF p. 107 |
| Interest receivedS$'000 | - | 1 | PDF p. 107 |
| Net cash used in operating activitiesS$'000 | (2,398) | (246) | PDF p. 107 |
| Investing Activities | |||
| Additions of property, plant and equipment (Note A)S$'000 | (4) | - | PDF p. 107 |
| Proceeds from disposal of property, plant and equipment (Note B)S$'000 | 480 | - | PDF p. 107 |
| Net cash generated from investing activitiesS$'000 | 39 | - | PDF p. 107 |
| Financing Activities | |||
| Loan/advances from an employeeS$'000 | 1,160 | 1,167 | PDF p. 107 |
| Repayment of lease liabilitiesS$'000 | (64) | (74) | PDF p. 107 |
| Interest on lease liabilitiesS$'000 | (7) | (7) | PDF p. 107 |
| Net cash generated from financing activitiesS$'000 | 1,089 | 1,662 | PDF p. 107 |
| Net change in cash | |||
| Net (decrease)/increase in cash and cash equivalentsS$'000 | (1,270) | 1,416 | PDF p. 107 |
| Closing cash | |||
| Cash and cash equivalents at the end of the financial yearS$'000 | 198 | 1,467 | PDF p. 107 |
Original report: PDF p. 107 ↗
Note column references omitted from values. Notes A and B reconciliations on page 108.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group, FY2025, cents per share | 2024Group, FY2024, cents per share | Source |
|---|---|---|---|
| Loss per share | |||
| From continuing and discontinued operationscents per share | (0.27) | (1.52) | PDF p. 103 |
| From continuing operationscents per share | (0.30) | (1.19) | PDF p. 103 |
Original report: PDF p. 103 ↗
Basic and diluted loss per share (cents per share) attributed to equity holders of the Company.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group | 2024Group | Source |
|---|---|---|---|
| Loss attributable to equity holders used in computation of basic loss per share | |||
| Loss for the year from continuing operationsS$'000 | (560) | (1,929) | PDF p. 138 |
| Profit/(Loss) for the year from discontinued operationS$'000 | 56 | (547) | PDF p. 138 |
| Basic and diluted loss per share | |||
| Loss per share from continuing operationscents per share | (0.30) | (1.19) | PDF p. 138 |
| Profit/(Loss) per share for discontinued operationscents per share | 0.03 | (0.33) | PDF p. 138 |
| Total loss per sharecents per share | (0.27) | (1.52) | PDF p. 138 |
Original report: PDF p. 138 ↗
Weighted average number of ordinary shares for the purpose of computation of basic loss per share ('000): 187,749 (2025), 162,474 (2024).
Diluted loss per share is the same as basic loss per share for the financial years ended 31 December 2025 and 2024.
There are no potential dilutive shares during the financial years ended 31 December 2025 and 2024; no outstanding warrants as at 31 December 2025 and 2024.
Where the money comes from
| Item / unit | 2025Health Supplements Business | 2025Lab-Grown Diamond | 2025Corporate | 2025Total | 2024Health Supplements Business | 2024Lab-Grown Diamond | 2024Corporate | 2024Total | Source |
|---|---|---|---|---|---|---|---|---|---|
| Group 31.12. | |||||||||
| Segment revenueS$'000 | 4,336 | - | - | 4,336 | 2,889 | 45 | - | 2,934 | PDF p. 154 |
| Cost of salesS$'000 | (3,787) | - | - | (3,787) | (2,754) | (26) | - | (2,780) | PDF p. 154 |
| Depreciation of property, plant and equipmentS$'000 | - | (30) | (70) | (100) | - | (20) | (80) | (100) | PDF p. 154 |
| Finance costsS$'000 | - | - | (7) | (7) | - | - | (7) | (7) | PDF p. 154 |
| Segment resultsS$'000 | 121 | 70 | (681) | (490) | (142) | (688) | (1,787) | (2,617) | PDF p. 154 |
Segment results are before income tax. Lab-Grown Diamond segment was discontinued during the current financial year. Depreciation label wraps: 'Depreciation of property, plant' / 'and equipment'.
Segment results are before income tax.
| Item / unit | 2025Group 31.12.2025 | 2024Group 31.12.2024 | Source |
|---|---|---|---|
| Segment assets | |||
| Health Supplements BusinessS$'000 | 1,438 | 1,466 | PDF p. 154 |
| Lab-Grown DiamondS$'000 | 8 | 336 | PDF p. 154 |
| CorporateS$'000 | 1,068 | 326 | PDF p. 154 |
| Consolidated total segment assetsS$'000 | 2,514 | 2,128 | PDF p. 154 |
| Item / unit | 2025Group 31.12.2025 | 2024Group 31.12.2024 | Source |
|---|---|---|---|
| Segment liabilities | |||
| Health Supplements BusinessS$'000 | 1,415 | 1,358 | PDF p. 155 |
| Lab-Grown DiamondS$'000 | 158 | 314 | PDF p. 155 |
| CorporateS$'000 | 2,338 | 2,137 | PDF p. 155 |
| Consolidated total segment liabilitiesS$'000 | 3,911 | 3,809 | PDF p. 155 |
| Item / unit | 2025Group's revenue from external customers | 2024Group's revenue from external customers | 2025Group's non-current assets | 2024Group's non-current assets | Source |
|---|---|---|---|---|---|
| Geographical information | |||||
| SingaporeS$'000 | - | - | 44 | 482 | PDF p. 155 |
| People’s Republic of ChinaS$'000 | 4,336 | 2,934 | - | - | PDF p. 155 |
| Total (unlabelled)S$'000 | 4,336 | 2,934 | 44 | 482 | PDF p. 155 |
Revenue and non-current assets based on geographical location of customers and assets respectively. The total row has no printed label. Major customer: revenue of S$4,336,000 (2024: S$2,889,000) from sales to a major customer.
Debt
| Item / unit | 202531.12.2025, S$'000 | 202431.12.2024, S$'000 | Source |
|---|---|---|---|
| Lease liabilities | |||
| CurrentS$'000 | - | 87 | PDF p. 151 |
| Non-currentS$'000 | - | 124 | PDF p. 151 |
| Lease liabilities (total)S$'000 | - | 211 | PDF p. 151 |
Lease terminated during FY2025 as Group moved to new office premises it plans to acquire; no lease liabilities at 31.12.2025.
Total row has no printed label; it is the unlabelled total beneath Current and Non-current.
Lease liability maturity (undiscounted) table not found; no bank borrowings, interest rate ranges or secured/unsecured borrowings table disclosed.
| Item / unit | 20251 January 2025, S$'000 | 2025Addition, S$'000 | 2025(Repayments), S$'000 | 2025Non-cash (Termination)/Addition, S$'000 | 2025Non-cash Others, S$'000 | 202531 December 2025, S$'000 | 20241 January 2024, S$'000 | 2024Addition, S$'000 | 2024(Repayments), S$'000 | 2024Non-cash (Termination)/Addition, S$'000 | 2024Non-cash Others, S$'000 | 202431 December 2024, S$'000 | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lease liabilitiesS$'000 | 211 | - | (71) | (147) | 7 | - | 17 | - | (81) | 268 | 7 | 211 | PDF p. 108 |
| Loan/advances from an employeeS$'000 | - | 1,167 | - | - | - | 1,167 | PDF p. 108 |
* This pertains to the debt capitalisation arrangement with a shareholder, which additional shares were issued during the year (Note 19).
Row label 'Loan/advances from an employee' wraps across two lines in the source; the quote is the second line containing the values.
Note 22: the S$3.0 million employee loan is unsecured, interest free and repayable on 7 October 2025, subsequently extended to 23 September 2026.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Moore Stephens LLP | Moore Stephens LLP | Group and Company, FY2025 | PDF p. 102 |
| Engagement partner | Ms Chong Jia Yun, Michelle | Group and Company, FY2025 | PDF p. 102 |
| Opinion | Our opinion is not modified in respect of this matter. | Group and Company, FY2025 | PDF p. 98 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Material Uncertainty Related to Going Concern | these conditions indicate a material uncertainty that may cast significant doubt on the Group’s and the Company’s ability to continue as going concerns | Group and Company, FY2025 | PDF p. 98 |
| Going Concern Assumption | The above conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group’s and the Company’s ability to continue as going concerns. | Group and Company, Note 3(b) | PDF p. 111 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow 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.