Link: https://links.sgx.com/1.0.0/corporate-announcements/25UHPFSNGHXRO03N/94f3b9bedeab8d0100b76bef5eb5a1aba16986211ab5e3e4bd05f75d796e8a27

Summary:

• Revenue for 1H FY2026 dropped 22.5% year-on-year to S$7.96 million (Q2: S$3.81 million), reflecting softer sales demand and continuing business challenges.

• Gross profit slipped to S$3.14 million (margin 39.4%), with lower sales mix cited; other operating income halved due to reduced events and supplier support.

• Net loss attributable to owners for 1H FY2026 widened to S$1.99 million (Q2: S$948,000), compared to a S$1.69 million profit in 1H FY2025; basic/diluted LPS at 0.13 cents per share.

• Cash at end-September 2025 was S$439,000; net current liabilities of S$226.2 million, accumulated losses at S$530 million. Net worth negative at S$318.7 million.

• Borrowings totalled S$243 million (S$98.98 million long-term, S$144.17 million current); significant debt refinanced via Scheme of Arrangement, ongoing since 2010.

• The group remains on SGX watch-list, with repeated moratorium extensions and creditor adjournments throughout 2025.

• Operating and investing cash flows were positive for Q2/Q2FY2026; total comprehensive loss for 1H FY2026 was S$1.79 million (up 13% Y/Y).

• No dividend declared; Board continues to focus on debt restructuring, cost management, and sourcing new capital with support from stakeholders.