Link: https://links.sgx.com/1.0.0/corporate-announcements/9XM71M4FRLCCYAZV/2971be66e3b01e9d244a4e9a38a9e63f0cd106c7272ea4ae6e993c7914bda855

Summary:

• Group revenue reached S$212.9 million in 1H2025, up 22% year-on-year, with broad-based growth in industrial automation (84.7% of revenue) and renewable energy (15.3% of revenue).

• China industrial automation revenue grew 3.7% YoY; Southeast Asia grew 15.1% YoY, with Malaysia, Thailand, and Taiwan showing particularly strong results.

• Renewable energy revenue rose to S$32.5 million, mainly from mini-hydropower project construction and operations in Indonesia; two additional plants to commence in 2026.

• Gross profit increased 13.8% YoY to S$50.5 million; industrial automation margins improved, while renewable energy’s profitability was impacted by lower-margin construction revenue.

• Core shareholder profits (excluding unrealized FX losses) grew 35.1% YoY, but net profit attributable to equity holders fell to S$1.3 million (due to S$3.2 million unrealized FX losses).

• Strategy focuses on expanding automation solutions, renewable energy, and geographical diversification across Asia for sustained long-term growth.