Summary:

• Group revenue fell 16% year-on-year to S$2.72 million in 1H FY2026, mainly due to lower recognition from the property development business as percentage-of-completion tapered versus the prior period.

• Net loss shrank sharply to S$40,000 from S$122,000 a year earlier, helped by S$133,000 gain on disposal of investment properties and S$97,000 gain on sale of a motor vehicle, while gross margin held at 24%.

• Non-current assets dropped to S$84,000 from S$396,000 after divestment of investment properties, but current assets rose to S$4.81 million on higher development properties and inventories, lifting net current assets to S$2.16 million.

• Current liabilities declined to S$2.65 million, driven by repayment of payables and accrued expenses, partly offset by an increase in directors’ loans, while non-current liabilities fell to S$1,000 following settlement of lease obligations.

• Cash and cash equivalents slid to S$316,000 from S$599,000 as operating cash outflow of S$1.06 million exceeded inflows from property disposal and fresh director financing, prompting management to reiterate its focus on cost control and cash conservation in a challenging macro backdrop.

• Share capital rose by S$966,000 via debt conversion, expanding the share base to about 2.68 billion shares and helping lift total equity to S$2.24 million despite continued accumulated losses.

https://links.sgx.com/1.0.0/corporate-announcements/LQ3S9O1V6VR95VEB/7f4b0f74cc83562ca94e02842a9f8d19be1df838b78781da4a45f4f36bcee087