Link: https://links.sgx.com/1.0.0/corporate-announcements/R3NQO231HIWT6WWC/8dd89f7f92e61098c56271e8f5933a0ef566b464d8a49fbf7df985d63cb1105c

Summary:

• Group revenue for 6 months ended 30 September 2025 fell 1.5% year-on-year to S$21.8 million, driven by modest declines in both Fire Protection Solutions and Energy Services segments.

• Net profit attributable to equity holders soared 106% to S$419,000; basic earnings per share steady at 0.01 cents.

• Cost of sales and operating expenses reduced, leading to improved gross margin in Fire Protection Solutions (more services, higher margin); Energy Services margin weakened due to lower tariffs in Cambodia.

• Net asset value per share sustained at 0.6 Singapore cents.

• Operating cash flow positive at S$2.2 million; cash and short-term deposits at S$6.1 million.

• Group recorded net current liabilities of S$7.38 million amid ongoing short-term financing; bank loans successfully rolled over, with continued financial support expected.

• No dividend declared due to negative revenue reserve; Board prioritizes liquidity and working capital management.

• Litigation in Cambodia, including civil judgment and arbitration with JV partners, continues; no material changes in asset control as at announcement date.

• Sector outlook stable for fire protection, challenging for energy supply amid tariff changes and customer mix shifts; management remains vigilant on cost and cash flow over next 12 months.