Link: https://links.sgx.com/1.0.0/corporate-announcements/08X15KNOLHTN5D84/ffd5f50a82f284980872fba450f9cd6d0dd08f020d9a71d8140fea463b839f23

Summary:

• Revenue/Income mix: Net interest income S$14.30m (+16.4%) on ARP growth and lower borrowing costs; insurance service result loss narrowed to S$1.46m (from S$2.55m); non-interest income S$5.76m (+33%).

• Profit: Profit before tax S$3.08m (+9.0%); profit after tax S$2.23m (+31.6%); profit attributable to owners S$1.75m (+92.8%); basic/diluted EPS 0.46 cents (vs 0.24 cents).

• Operating expenses: S$12.08m (+13.3%) from higher technology, marketing, and staff-related costs.

• Credit costs: Allowances S$3.42m (vs S$0.59m), mainly Stage 3 from a single Thailand client default; partial writebacks in Stage 1/2.

• Segment performance: Operating income S$18.10m with Credit Financing S$18.87m and Insurance -S$0.83m; segment PBT: Credit Financing S$4.08m, Insurance -S$0.64m, PE/Other S$0.06m, Fund Management -S$0.42m.

• Geography: Operating income Singapore S$7.80m; Thailand S$8.70m; Malaysia S$1.12m; Indonesia S$0.47m.

• Balance sheet: Total assets S$522.2m (slightly lower vs Dec-2024); loans and advances S$270.9m; ARP S$145.9m; borrowings S$281.0m (slightly higher); cash S$42.7m.

• NAV per share: 46.9 cents (down from 47.5 cents at end-2024); shareholders’ equity S$176.5m.

• Cash flow: Operating cash inflow S$2.06m; investing outflow S$0.51m; financing inflow S$1.80m; net increase in cash S$3.35m to S$42.68m.

• Capital and shares: Shares outstanding 375,969,665; first and final dividend of 0.50 cents/share for FY2024 paid in 1H25; no interim dividend stated for 1H25.

• Outlook: Cautious on geopolitics and trade; supportive funding-cost trend expected in 2H; focus on prudent lending growth, repositioning insurance portfolio to manage inflation-driven claims, and diversification into non-motor lines.