Link: https://links.sgx.com/1.0.0/corporate-announcements/O5JRINORZND0UYZL/f430ce04787c0ee9f10620c15b64d1553567d14fc4bf6e1ee3156bcb4171fd15

Summary:

• Revenue plunged to S$0.1 million in FY2025 (from S$76.3 million in FY2024), as Apex Foodworks project sales recognized last year had no repeat in the current period.

• Group reported S$1.4 million net loss after tax versus S$15.1 million net profit last year.

• Lower income also stemmed from the absence of substantial gains on disposals that boosted FY2024 results.

• Operating expenses marginally increased, while costs related to major project sales were not repeated in FY2025.

• Current assets dropped by S$15.9 million, with significant cash outflows for dividend payouts (S$8.0 million), capital reduction, and tax payments.

• No dividend for FY2025; FY2024’s special/ordinary dividends totaled S$8.0 million.

• Group retains positive working capital, seeks further property sale and investment opportunities; Apex Foodworks has only one unsold unit remaining.

• Board signals focus on cost management and portfolio optimization for future stability.