Link: https://links.sgx.com/1.0.0/corporate-announcements/4I85WLLGL1VVNTPB/7983f6219bc97bf1086feb42329e9a2100da407d38f268858e52351c8a273057

Summary:

• Revenue rose 9.2% year-on-year to S$2.95 million in 1H FY2026, mainly from the new phase of the SibuJaya commercial project in Sarawak, Malaysia.

• Gross margin rebounded sharply to 23.9% (from a loss margin of 14.2% last year) as liquidated damages for a prior project were not repeated and new projects contributed higher margins.

• Net loss after tax narrowed to S$928,000 (vs. S$3.35 million loss in 1H FY2025), reflecting lower finance and operating costs and improved project performance.

• Cash and equivalents jumped to S$31.7 million, up S$11.4 million from March 2025, driven by collections from the 35 Gilstead project; total equity remains strong at S$66.9 million.

• No interim dividend declared due to accumulated losses; management remains focused on legal completion of 35 Gilstead, progressing construction in Sarawak, and upcoming project launches in Malaysia and London.

• The board signals ongoing adaptation of strategy, project launches, and selective divestments to support liquidity and growth.