Link: https://links.sgx.com/1.0.0/corporate-announcements/VYHGDIZWT23N8Q2L/f3dca719056ba75eb00edd165f1a5d232315d882f21c5746d6ec362f788569cc

Summary:

• Net loss attributable to shareholders widened to S$23.9 million for the first half of 2025, compared to S$17.5 million in 1H 2024, a 36% increase.

• Group revenue fell sharply by 76.7% to S$1.7 million, mainly due to fewer distributions and dividends from financial assets at FVOCI.

• Total expenses increased 14.9% year-over-year, driven by net foreign exchange losses of S$1.2 million (vs. gains in the prior year), partially offset by a decrease in finance expenses due to lower interest rates.

• Share of loss from associated companies, including PCCW, amounted to S$16.5 million, slightly lower than S$17.4 million for 1H 2024.

• Net asset value per share dropped to S$0.026 as at 30 June 2025, down from S$0.098 at end-2024.

• Net borrowings decreased substantially from S$193.3 million at end-2024 to S$89.4 million by 30 June 2025.

• An interim dividend of 2.20 cents per share was declared, higher than the 1.12 cents per share declared in 1H 2024.

• PCCW, a major associate, reported key positive metrics: revenue up 7% (to HK$18,922 million), EBITDA up 6% (to HK$6,010 million), narrowing attributable loss, and strong subscriber and digital engagement growth from its Viu and ViuTV units.

• The Group remains reliant on PCCW’s results for financial performance and future trends.

• The figures reported are unaudited and have been prepared under the same accounting policies as previous periods.