Link: https://links.sgx.com/1.0.0/corporate-announcements/RFYG078AI7RW279X/a45a8a99e023582979bb86770c50a3beeb1b6122c3532e8749b1d4a8a54c488f

Summary:

• Returned to profitability with profit after tax of S$1.4 million in FY2025 versus a loss of S$2.0 million in FY2024, despite lower revenue of S$6.1 million compared with S$10.7 million previously, driven by higher-margin residential landed project, stronger other operating income and lower admin and finance costs​

• Gross profit nearly doubled to S$1.3 million and gross margin jumped to 21.8% from 6.6%, underscoring management’s focus on selective, higher-margin developments.

• Balance sheet expanded, with total assets rising to S$372.4 million and shareholders’ equity to S$186.7 million, while net asset value per share edged up to 51.95 Singapore cents.

• Board proposed a final tax-exempt cash dividend of 0.15 Singapore cents per share, payable in March 2026 subject to shareholder approval at the AGM on 27 January 2026, signalling confidence in cash generation and capital discipline.

• Singapore core market remained resilient amid moderating private residential price growth, while Malaysia’s Penang region and Cambodia platform provide additional upside through targeted commercial and mixed-use projects.

• Management guides for a “cautiously optimistic” FY2026, citing resilient end-user demand but persistent cost pressures in the built-environment sector, with strategy anchored on disciplined cost control, timely execution and selective land banking.