Link: https://links.sgx.com/1.0.0/corporate-announcements/K9CP2V0PQMQT078U/8486ad315d1b3fee7e1b9c9f5b1ff4faad3506c4342c4ba40ed2d9ed422ca5e4

Summary:

• Revenue: S$111.9 million (+68% YoY), led by Engineering & Construction revenue more than doubling to S$81.3m on higher recognition from new and ongoing projects.

• Profit: Net profit attributable to equity holders S$3.0 million (turnaround from S$9.3m loss in 1H2024); gross profit S$13.9m (vs S$0.5m).

• Order book: S$1.1 billion as at 30 June 2025, supported by recent S$999.1m JV contract for Changi T5 intra-terminal tunnels.

• Balance sheet: Cash and bank balances S$64.4m; shareholders’ equity S$116.0m; NAV per share 4.12 Singapore cents (vs 3.99 cents end-2024).

• Segments: Engineering & Construction rebounded strongly; Bio-Refinery & Renewable Energy segment continued to deliver robust financials.

• Outlook: Construction demand projected at S$47–53b in 2025; Group to focus on disciplined project selection, managing variation orders and costs; aims to secure larger-scale bio-refinery/renewable energy projects to build recurring revenue.