Link: https://links.sgx.com/1.0.0/corporate-announcements/8W8QA1RHTP4YHNFK/25633e94bf586d99253b701fcd99757fc3c958c2adcba391cbadef7a06b3b5c3

Summary:

• The Group expects to report a higher consolidated net loss for the financial period ended 30 June 2025 compared to the previous period.

• Golf Business segment losses stemmed from lower revenue (due to weaker consumer spending in China, property market slump, and intense competition) with operating expenses outweighing revenues.

• Luggage Business segment reported post-acquisition losses (from 1 May 2024 to 30 June 2025), impacted by geopolitical uncertainties and insufficient sales volume for production efficiency; goodwill impairment likely.

• Financing Business segment affected by expected credit losses on receivables and foreign exchange losses from the depreciation of AUD against HKD.

• Corporate expenses increased due to higher approved directors’ fees for 2024 and greater compliance costs related to expansion into new segments (Golf and Luggage).

• Results for FY2025 are pending finalization and will be released by 29 August 2025.

• Shareholders and investors are cautioned to act carefully and seek professional advice as needed.