Link: https://links.sgx.com/1.0.0/corporate-announcements/OO3U17GPWDUSOV9Y/502caf01e84b06c0dc620bc79defa800859324bda89bff07b919a4cd181d7f98

Summary:

• Amcorp Global Limited and Subsidiaries experienced mixed financial performance for the period ended 31 March 2025, marked by significant decreases in sales and gross profit, yet achieved a commendable turnaround from a loss to a profit before tax ($1.548 million for the twelve months).
• The Group generated $55.8 million in cash from operating activities, primarily from the 35 Gilstead development, but a net decrease of $7.4 million in cash and cash equivalents was recorded due to substantial net repayment of bank borrowings and loans ($58.1 million) and the acquisition of Amcorp Baker Street Pte. Ltd. ($5.0 million).
• Operational highlights include the receipt of the Temporary Occupation Permit (TOP) for the 35 Gilstead project, successful launch and ongoing construction of commercial shophouse units in SibuJaya, Sarawak, and the submission of a planning application for the Baker Street project in London.
• In line with its strategy, no interim dividend was recommended as the Company aims to conserve resources due to the absence of accumulated profits available for distribution.
• The strategic outlook emphasizes continuous market monitoring, business strategy calibration, proactive exploration of new investment opportunities, and the divestment of non-core assets to ensure liquidity for future projects and investments.