Summary:

• Group revenue fell 45.8% year-on-year to S$3.1 million for the half year ended 30 November 2025, mainly on sharply lower licence and related service sales in its core Indonesian digital identity business​

• Net loss attributable to shareholders increased 23.9% to S$2.9 million, but operating cost lines such as subcontractor fees, project/admin staff costs, legal/professional fees and other expenses all declined by 20–55% after restructuring and consultant cuts​

• Depreciation and amortisation remained heavy at S$2.9 million, reflecting sizeable past investments in software, customer relationships and technology, with intangible assets now carried at S$4.9 million after prior impairments​

• Despite the loss, operating cash outflow was limited to S$0.6 million, and financing cash inflow of S$2.6 million from a S$3.2 million share placement lifted cash and cash equivalents to S$2.7 million at period end​

• Net asset value attributable to shareholders stood at S$25.9 million, translating to 1.73 cents per share, while total liabilities fell to S$3.2 million, underscoring a lowly geared balance sheet​