Link: https://links.sgx.com/1.0.0/corporate-announcements/3V8W2L24QM6SZLGL/f22a3f9e2c8bee50fdab8cdea060a8679c7021ff709a9bf58f1b28372f0c4cc7

Summary:

• Group revenue fell 17.6% to S$11.3 million (FY2024: S$13.7 million), mainly on slower project deliveries in Security Solutions and expiration of maintenance contracts.

• Gross profit decreased by 28.2% to S$4.1 million; gross margin slipped to 36.7% (FY2024: 42.2%) due to new lower-margin projects and softer demand for higher-margin services.

• Net loss after tax was S$1.48 million (FY2025) versus a profit of S$104,000 last year; loss per share: 0.30 cents (EPS FY2024: +0.02 cents).

• Both Security Solutions (-16.3%) and Maintenance/Leasing (-20.5%) segments posted revenue declines; Singapore business was the main driver of the drop.

• No dividend declared for FY2025, in view of net loss.

• Net asset value per share: 1.1 cents (down from 1.5 cents).

• Cash and cash equivalents at year-end: S$2.17 million; borrowings reduced substantially.

• Major contract wins in May/June 2025 include a $1.9m ELV system for a treatment plant and $0.7m cloud-based smart water pump project for public housing.

• Management to focus on cost containment, targeted marketing and public sector infra projects for recovery amidst lingering economic uncertainties.