Link: https://links.sgx.com/1.0.0/corporate-announcements/1LRO6AGZFITNUIOU/e81a42446084188b3052a91783f93c791077573a19bba1a28a0f0fb54311f57a

Summary:

• Net profit for nine months ended 30 September 2025 reached US$41.5 million, reversing a loss of US$1.2 million last year due to a US$42.1 million gain on debt forgiveness after a major restructuring and share consolidation.

• Group revenue declined 18% year-on-year to US$4.06 million as Sri Lanka-based power generation operations faced softer market demand.

• Administrative and marketing expenses plunged 43%, while finance costs fell 44% to US$1.25 million, following successful creditor settlements and loan conversions.

• Net asset position improved significantly to US$12.5 million (from a net liability of US$50.9 million at end-2024), with cash balances rising to US$10.8 million.

• Share consolidation and new subscription agreement completed in June 2025 enabled trading resumption, recapitalization, and fresh capital inflows.

• The board now considers the group a going concern, as liabilities were reduced from US$70.6 million to US$5.1 million; expansion plans will focus on core hydroelectric business amid sector challenges.