Link: https://links.sgx.com/1.0.0/corporate-announcements/COESVQAGL8QOXHKM/0624f6c374835a2e7c143c6919f0ce06187754e48fbb3fda5b2b8f81b933bbcd

Summary:

• Group revenue dropped sharply to $7.76 million, down 56.8% from FY2024 due to property segment setbacks in Malaysia and ongoing contractor disputes.

• Net loss deepened to $8.79 million, mainly from negative gross profit in the property business and absence of FY2024’s non-recurring gains.

• Measuring Instruments segment reported increased revenue (up 12.6%) with higher demand, partially offsetting property-driven losses.

• No dividend proposed for FY2025 as the group prioritizes funding for affordable housing project completion.

• Affordable housing project in Perak, Malaysia remains under construction after contractor changes and legal disputes; group aims to complete Phase 1 and 2 by March 2026.

• Approximately $19.5 million in total cash and bank balances, with $2.01 million frozen in Malaysia due to disputes; total assets at $43.8 million, liabilities at $19.5 million.

• Strategic plans underway for expansion into renewable energy, battery storage, and food resilience to build a future-ready, diversified enterprise.

• Board and management emphasize resilience, technology investment, workforce upskilling, and sustainable growth through profitable, socially responsible projects.