T 
0.05
-4.17%
Close of 6 Nov 2026, in SGD
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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 394.7m
FY2016FY2025
Net income
−SGD 47.6m
FY2016FY2025
Free cash flow
SGD 37.9m
FY2016FY2025
Shareholders' equity
SGD 470.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 394.7m | SGD 351.2m | SGD 355.8m | SGD 333.7m | SGD 240.4m | SGD 327.8m | SGD 229.8m | SGD 215.6m | SGD 200.6m | SGD 103.1m |
| Gross profit | SGD 295.3m | SGD 275.4m | SGD 296.4m | SGD 278.4m | SGD 190.9m | SGD 257.5m | SGD 182.0m | SGD 171.0m | SGD 160.2m | — |
| Operating income | −SGD 38.7m | SGD 48.0m | SGD 82.3m | SGD 91.8m | SGD 48.8m | −SGD 45.4m | SGD 38.2m | SGD 37.2m | SGD 34.6m | SGD 563,000 |
| Net income | −SGD 47.6m | SGD 14.2m | SGD 36.6m | SGD 53.8m | SGD 14.2m | −SGD 99.2m | SGD 3.1m | SGD 2.2m | −SGD 22.3m | −SGD 63.3m |
| Diluted earnings per share | -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 1.78bn | SGD 1.81bn | SGD 1.45bn | SGD 1.36bn | SGD 1.29bn | SGD 1.29bn | SGD 1.34bn | SGD 1.49bn | SGD 1.51bn | SGD 568.4m |
| Cash and short-term investments | SGD 124.2m | SGD 167.3m | SGD 286.6m | SGD 161.6m | SGD 122.7m | SGD 160.0m | SGD 110.9m | SGD 115.2m | SGD 135.5m | SGD 34.3m |
| Total liabilities | SGD 1.31bn | SGD 1.31bn | SGD 948.3m | SGD 833.3m | SGD 795.9m | SGD 816.4m | SGD 757.9m | SGD 775.0m | SGD 887.4m | SGD 163.2m |
| Debt | SGD 1.12bn | SGD 1.12bn | SGD 762.8m | SGD 642.9m | SGD 631.1m | SGD 662.7m | SGD 594.9m | SGD 578.3m | SGD 221.2m | SGD 117.1m |
| Shareholders' equity | SGD 470.9m | SGD 499.7m | SGD 499.4m | SGD 531.7m | SGD 489.8m | SGD 477.9m | SGD 579.9m | SGD 714.0m | SGD 621.5m | SGD 405.3m |
| Shares outstanding | 26,441m | 26,459m | 26,447m | 26,441m | 26,441m | 26,382m | 26,353m | 26,263m | 4,738m | 4,591m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | SGD 60.4m | SGD 83.3m | SGD 88.6m | SGD 92.8m | SGD 61.3m | SGD 78.6m | SGD 68.2m | SGD 40.5m | SGD 52.2m | SGD 7.7m |
| Capital spending | −SGD 22.6m | −SGD 26.9m | −SGD 11.2m | −SGD 27.8m | −SGD 37.3m | −SGD 75.4m | −SGD 57.2m | −SGD 24.1m | −SGD 24.2m | −SGD 2.4m |
| Free cash flow | SGD 37.9m | SGD 56.5m | SGD 77.4m | SGD 65.0m | SGD 24.0m | SGD 3.2m | SGD 11.0m | SGD 16.4m | SGD 28.0m | SGD 5.2m |
| Dividends paid | — | −SGD 10.6m | −SGD 30.4m | −SGD 4.0m | — | −SGD 6.6m | −SGD 6.6m | — | — | — |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Sept 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | SGD 195.6m | SGD 199.1m | SGD 183.0m | SGD 168.1m | SGD 171.8m | SGD 184.0m | SGD 92.0m | SGD 188.3m |
| Gross profit | SGD 141.6m | SGD 153.7m | SGD 137.7m | SGD 137.7m | SGD 142.1m | SGD 154.3m | SGD 45.9m | SGD 159.7m |
| Operating income | −SGD 4.3m | SGD 20.2m | SGD 46.1m | SGD 27.4m | SGD 37.0m | SGD 45.2m | SGD 15.7m | SGD 60.9m |
| Net income | −SGD 34.7m | −SGD 12.9m | SGD 12.1m | SGD 2.0m | SGD 13.8m | SGD 22.8m | SGD 12.1m | SGD 41.3m |
| Diluted earnings per share | -0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | 0.00 |
| Total assets | SGD 1.78bn | SGD 1.82bn | SGD 1.81bn | SGD 1.89bn | SGD 1.45bn | SGD 1.34bn | SGD 1.34bn | SGD 1.36bn |
| Cash and short-term investments | SGD 124.2m | SGD 139.5m | SGD 167.3m | SGD 271.9m | SGD 286.6m | SGD 153.5m | SGD 143.3m | SGD 161.6m |
| Debt | SGD 950.1m | SGD 866.0m | SGD 925.3m | SGD 1.01bn | SGD 744.1m | SGD 629.4m | SGD 629.4m | SGD 409.9m |
| Shareholders' equity | SGD 470.9m | SGD 511.2m | SGD 499.7m | SGD 487.1m | SGD 499.4m | SGD 510.3m | SGD 582.9m | SGD 531.7m |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 | FY2017 | FY2016 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 73.8% | 74.8% | 78.4% | 83.3% | 83.4% | 79.4% | — | — | — | — |
| Operating margin | 6.7% | 4.8% | 23.0% | 23.1% | 27.5% | 20.3% | — | — | — | — |
| Net margin | -7.1% | -12.1% | 4.0% | 10.3% | 16.1% | 5.9% | — | — | — | — |
| Return on equity | -6.7% | -10.1% | 2.8% | 7.3% | 10.1% | 2.9% | — | — | — | — |
| Return on assets | -1.7% | -2.7% | 0.8% | 2.5% | 3.9% | 1.1% | — | — | — | — |
| Free cash flow yield | — | — | — | — | 9.5% | 7.8% | 6.0% | 151.4% | 4.5% | 2.2% |
| Revenue growth | 6.4% | 12.4% | -1.3% | 6.6% | 38.8% | -26.7% | — | — | — | — |
| Earnings growth | -37.6% | -436.1% | -61.3% | -32.0% | 277.6% | -114.4% | — | — | — | — |
| Current ratio | 1.04x | 1.19x | 1.08x | 3.67x | 0.95x | 3.01x | — | — | — | — |
| Debt to equity | 2.04x | 2.00x | 1.83x | 1.47x | 0.76x | 1.26x | — | — | — | — |
| Equity ratio | 24.9% | 26.4% | 27.7% | 34.5% | 39.0% | 38.1% | — | — | — | — |
| Interest coverage | 0.57x | 0.32x | 1.57x | 2.70x | 3.91x | 2.20x | — | — | — | — |
| Buybacks as a share of market value | — | — | — | — | -0.0% | -18.5% | -2022.8% | 77.5% | -378.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.8% | 3.8% | 16.9% |
| Operating income | — | -3.1% | — |
| Net income | — | -13.7% | 2.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 76.5% | 79.8% | 79.6% | — |
| Operating margin | 1.2% | 12.8% | 9.3% | 10.9% |
| Net margin | -4.5% | 4.0% | -1.4% | -5.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -33.4 | 87.8 | 44.1 | 38.4 | 156.0 | -13.3 | — | — | -26.6 | -8.7 |
| Price to sales | 4.0 | 3.5 | 4.5 | 6.2 | 9.2 | 4.0 | 7.3 | 8.9 | 3.0 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 Oct 2023.
| FY2024 | FY2023 | FY2022 | FY2019 | FY2009 | |
|---|---|---|---|---|---|
| Paid in the year | 0.00 | 0.001 | 0.00 | 0.00 | 0.001 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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