Link: https://links.sgx.com/1.0.0/corporate-announcements/XKOLV4EDYB0BJNA6/1d1d32c3af27fef140e8015e86c97fc960bab00681ba32ecbe3425e80c7f6a5c

Summary:

• Revenue fell 75.3% year-on-year to S$1.73 million for nine months ended 30 September 2025 (vs S$7.0 million last year), mainly due to project completion and reduced new works.

• Gross profit dropped 69.2% to S$179,000; group posted net loss of S$3.1 million (vs S$2.96 million last year); basic loss per share at 0.84 cents.

• Cash and bank balances diminished to S$425,000 (from S$2.2 million at Dec 2024); net current assets down to S$8.05 million (from S$11.3 million).

• Operating cash outflow for the period totaled S$2.22 million; proceeds from new borrowings offset by repayments, resulting in overall liquidity drain.

• No dividend declared for the period; Board states historical practice is to declare final dividends rather than interim.

• Major uncertainties highlighted regarding going concern: net current liability position, continued support from corporate shareholder, and funding alternatives under evaluation.

• Property investment segment (Changshu China, Melbourne Australia) remains a source of recurring income via JV; ongoing marketing of residential units and data center segment in Australia.

• Group stays cautious on new project tendering amid challenging cost environment and global uncertainty; Board actively evaluating asset realization and new capital sources to strengthen liquidity.