J 
4.30
-3.37%
Close of 9 Nov 2026, in HKD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in SGD, from our data supplier.
Revenue
SGD 285.1m
FY2016FY2025
Net income
−SGD 105.2m
FY2016FY2025
Free cash flow
−SGD 38.1m
FY2016FY2025
Shareholders' equity
SGD 315.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 285.1m | SGD 50.2m | SGD 45.6m | SGD 22.3m | SGD 21.9m | SGD 22.5m | SGD 51.9m | SGD 47.5m | SGD 44.4m | SGD 45.1m |
| Research and development | SGD 4.6m | — | — | — | — | — | — | — | — | — |
| Operating income | −SGD 115.5m | −SGD 20.0m | −SGD 4.6m | SGD 869,000 | SGD 69,942 | −SGD 1.9m | −SGD 863,054 | −SGD 3.2m | SGD 2.5m | SGD 7.6m |
| Net income | −SGD 105.2m | −SGD 18.0m | −SGD 3.1m | SGD 468,000 | −SGD 246,205 | SGD 1.3m | −SGD 685,782 | −SGD 3.5m | SGD 2.3m | SGD 6.6m |
| Diluted earnings per share | -0.02 | -0.00 | -0.00 | 0.00 | -0.00 | 0.00 | -0.00 | -0.00 | 0.00 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | SGD 547.2m | SGD 58.9m | SGD 62.2m | SGD 40.3m | SGD 33.8m | SGD 39.4m | SGD 42.6m | SGD 33.8m | SGD 38.1m | SGD 26.5m |
| Cash and short-term investments | SGD 226.6m | SGD 14.9m | SGD 26.8m | SGD 23.9m | SGD 25.9m | SGD 27.4m | SGD 22.1m | SGD 19.0m | SGD 21.8m | SGD 15.8m |
| Total liabilities | SGD 227.1m | SGD 26.1m | SGD 24.7m | SGD 15.7m | SGD 9.7m | SGD 13.9m | SGD 18.4m | SGD 8.9m | SGD 8.8m | SGD 16.6m |
| Debt | SGD 91.8m | SGD 14.5m | SGD 10.1m | SGD 4.4m | SGD 1.9m | SGD 5.5m | SGD 10.1m | SGD 341,500 | SGD 768,900 | SGD 512,400 |
| Shareholders' equity | SGD 315.9m | SGD 31.8m | SGD 37.5m | SGD 24.4m | SGD 24.3m | SGD 25.5m | SGD 24.2m | SGD 24.9m | SGD 29.4m | SGD 10.0m |
| Shares outstanding | 5,261m | 5,170m | 1,256m | 1,230m | 1,230m | 1,230m | 1,230m | 1,230m | 1,112m | 1,071m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −SGD 37.5m | −SGD 3.3m | −SGD 1.9m | SGD 4.2m | SGD 3.3m | SGD 7.4m | SGD 7.9m | −SGD 2.3m | −SGD 1.4m | SGD 7.5m |
| Capital spending | −SGD 576,875 | −SGD 1.0m | −SGD 1.2m | −SGD 1.2m | −SGD 607,079 | −SGD 137,503 | −SGD 647,231 | −SGD 310,305 | −SGD 1.0m | −SGD 1.3m |
| Free cash flow | −SGD 38.1m | −SGD 4.3m | −SGD 3.1m | SGD 3.1m | SGD 2.7m | SGD 7.2m | SGD 7.3m | −SGD 2.6m | −SGD 2.4m | SGD 6.3m |
| Dividends paid | — | — | — | — | — | — | — | — | −SGD 3.0m | −SGD 7.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 211.4m | SGD 195.6m | SGD 89.5m | SGD 24.3m | SGD 25.9m | SGD 33.7m | SGD 12.0m | SGD 7.6m |
| Operating income | −SGD 21.9m | −SGD 47.8m | −SGD 67.7m | −SGD 13.6m | −SGD 6.5m | −SGD 4.8m | SGD 239,908 | −SGD 980,877 |
| Net income | −SGD 27.1m | −SGD 42.1m | −SGD 63.2m | −SGD 11.9m | −SGD 6.0m | −SGD 4.1m | SGD 938,685 | −SGD 934,136 |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | -0.00 | -0.00 | -0.00 | 0.00 | -0.00 |
| Cash from operations | — | SGD 16.0m | −SGD 327.0m | −SGD 25.0m | SGD 5.0m | −SGD 1.0m | — | SGD 2.0m |
| Capital spending | — | — | — | −SGD 4.0m | −SGD 1.0m | −SGD 1.0m | — | −SGD 1.0m |
| Free cash flow | — | — | — | −SGD 29.0m | SGD 4.0m | −SGD 2.0m | — | SGD 1.0m |
| Total assets | SGD 617.5m | SGD 547.2m | SGD 308.9m | SGD 58.9m | SGD 64.9m | SGD 62.2m | SGD 47.0m | SGD 40.3m |
| Cash and short-term investments | SGD 180.2m | SGD 226.6m | SGD 42.9m | SGD 14.9m | SGD 17.7m | SGD 26.8m | SGD 21.1m | SGD 26.1m |
| Debt | SGD 78.7m | SGD 91.8m | SGD 90.4m | SGD 14.5m | SGD 11.3m | SGD 10.1m | SGD 5.3m | SGD 4.4m |
| Shareholders' equity | SGD 319.8m | SGD 315.9m | SGD 168.5m | SGD 31.8m | SGD 37.6m | SGD 37.5m | SGD 25.2m | SGD 24.4m |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -38.9% | -40.0% | -6.6% | 3.9% | 0.3% | -8.2% |
| Net margin | -36.9% | -35.8% | -6.9% | 2.1% | -1.1% | 5.6% |
| Return on equity | -33.3% | -56.5% | -8.4% | 1.9% | -1.0% | 5.0% |
| Return on assets | -19.2% | -30.5% | -5.0% | 1.2% | -0.7% | 3.2% |
| Free cash flow yield | -0.0% | -0.0% | -0.0% | 0.1% | 0.1% | 0.2% |
| Revenue growth | -7.9% | 10.1% | 104.9% | 1.8% | -2.6% | -56.7% |
| Earnings growth | -4.9% | 472.0% | -771.2% | -290.1% | -119.5% | -284.2% |
| Current ratio | 1.84x | 1.29x | 2.01x | 2.38x | 3.24x | 2.46x |
| Debt to equity | 0.25x | 0.37x | 0.18x | 0.15x | 0.45x | 0.19x |
| Equity ratio | 57.7% | 54.0% | 60.2% | 60.5% | 71.9% | 64.7% |
| Interest coverage | -27.07x | -25.99x | -13.56x | 10.19x | 0.53x | -5.90x |
| R&D as a share of sales | 1.6% | — | — | — | — | — |
| Buybacks as a share of market value | -1.8% | -311.7% | -2.1% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 133.9% | 66.2% | 0.0% |
| Operating income | — | 128.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -40.4% | -34.5% | -31.5% | -9.4% |
| Net margin | -36.7% | -31.2% | -27.9% | -8.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.3 | -44.4 | -19.3 | 116.4 | -284.1 | 27.3 | -65.4 | -13.9 | 6.2 |
| Price to sales | 3.8 | 15.9 | 1.3 | 2.4 | 3.2 | 1.5 | 0.9 | 1.0 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 4-for-1 split · 12 Dec 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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