Link: https://links.sgx.com/1.0.0/corporate-announcements/O61ESD55B80OV1H2/77c8222fd782451e437215a45a6bd2dcec0b2c83c5e75236f7466cd9f34ce693

Summary:

• Revenue fell 60% year-on-year to S$130.2 million as completed projects, The Atelier and LIV@MB, contributed no new sales.

• Net profit after tax slid 25% to S$47.2 million, despite new launches and continued sales from Pollen Collection and 8@BT.

• Gross profit dropped 15% to S$61.9 million, mainly due to lower property development segment contributions.

• Interest income plunged 71% following a reduction in fixed deposits, while finance costs increased over tenfold on account of a S$121 million term loan for new project funding.

• Total assets rose 8% from March 2025, led by higher development properties, while total liabilities surged 138% due to borrowing and construction cost accruals.

• The board maintains cautious optimism as Singapore private housing demand remains resilient, with new project launches planned and a measured approach to future developments.