Link: https://links.sgx.com/1.0.0/corporate-announcements/0XQ7O08HSFO2H3O5/14882d8855e4264c0c094ffedcf00938dfa2c66b24726c1f92b2ff63ebe80a43

Summary:

• Reverse takeover completed September 2025: Skylink APAC acquired Sincap Group, creating one of Singapore’s largest commercial vehicle leasing, financing, and engineering solutions firms.

• Revenue: Up 33.8% YoY to S$16.1 million for 1H FY2026 (from S$12.1 million), lifted by commercial vehicle leasing (+52% to S$12.5M) and engineering services (+11.5% to S$2M). Vehicle credit segment fell.

• Gross profit: Up 12.7% YoY to S$3.86 million, margin expansion led by higher-margin engineering services.

• Net profit (excluding RTO costs): S$1.8 million (+32.7% YoY); EPS: 1.02 cents. Net loss S$9.65M after one-off reverse acquisition charges.

• Total assets: Up to S$116.2M (from S$111.1M); cash and cash equivalents increased to S$7.4 million.

• Borrowings: S$87.3M total (mainly for vehicle fleet); new S$5M convertible bond issued in connection with RTO.

• Net asset value per share: S$0.036, down from S$1.28 before RTO due to new equity and restatement.

• No dividend declared. Board may consider future payout after potential capital reduction and as business stabilizes.

• Outlook: Focus on scaling fleet, expanding credit and engineering business, rationalizing post-merger structure for future dividend capability. Large working capital base supports ongoing growth in Singapore.