The Assembly Place Continues Strong Growth Trajectory as 1H2026’s Revenue Rises 33.9% with Net Profit Surging 80.7%; Inaugural Interim Dividend Reflects the Strength of its Cash-Generative Business Model
• Revenue growth was primarily driven by the continued expansion of the Group's core Community-Driven Stays segment, supported by an increase in master lease agreements and a larger portfolio of keys under operation and management, with the total number of keys expanding from 3,018 as at 30 June 2025 to 3,520 as at 30 June 2026.
• Underpinned by higher rental income in 1H2026, gross profit increased 22.7% to S$11.2 million, despite cost of sales rising 75.1% to S$4.4 million.
• Reflecting the strength of its underlying business model, net profit surged 80.7% to S$2.2 million, which also accounted for the one-off, non-recurring IPO expenses of S$0.2 million, share-based payments of S$0.2 million in 1H2026 as well as higher operating costs associated with increased business activities, among others.
• Net cash flows from operating activities increased to S$7.7 million during 1H2026 (1H2025: S$6.9 million).
• Strengthened balance sheet with total equity and cash and cash equivalents increasing significantly to S$41.6 million and S$11.5 million, respectively, as at 30 June 2026.
• Declared inaugural interim dividend of 0.1 SG cents per ordinary share for 1H2026, reflects the strength of its cash-generative business model and represents an important milestone that underscores its commitment to consistently deliver value to shareholders.
• Backed by its asset-light, scalable operating model and proprietary digital infrastructure that enhances resident engagement and customer stickiness, the Group continues on a strong growth trajectory with a robust pipeline of new projects to further strengthen its position as Singapore's largest and most diversified Community Living operator.
Commenting on the 1H2026 financial results, TAP’s Executive Director and Chief Executive Officer, Mr. Eugene Lim (林英劼), said: “Our strong first half performance reflects the scalability and resilience of our Community Living business platform. Through the continued expansion of our master lease portfolio, we increased the number of keys under operation and management, driving healthy revenue growth, strengthening operating cash flow and delivering improved financial performance, despite the one-off IPO-related expenses and continued investments to support our growth.
Beyond our business performance, we have further strengthened our balance sheet, providing us with the financial flexibility to accelerate our expansion. Backed by our asset-light operating model and proprietary digital platform that enhances the resident engagement and customer stickiness, we are well-positioned to scale efficiently while maintaining operational discipline. With a robust pipeline of new projects and growing demand for professionally-managed community
living solutions, we remain confident in our ability to further strengthen TAP’s position as Singapore’s largest and most diversified Community Living operator while delivering sustainable long-term value for our shareholders.
On the inaugural interim dividend, Mr. Eugene Lim, added: “While modest in size, our inaugural interim dividend represents an important milestone for the Group and serves as a meaningful reward
to shareholders following our strong operating performance in the first half of 2026. Following our successful IPO in January 2026, the Group has largely preserved the S$10.6 million in net proceeds raised, with our improved liquidity position reflecting the strength of our cash-generative business model.
This dividend decision reflects the Board’s confidence in the resilience of our business model, the sustainability of our cash generation capabilities, and our commitment to delivering long-term value to shareholders.
As we continue to execute our long-term growth strategy and strengthen our financial performance, we remain focused on maintaining the financial flexibility to pursue future growth opportunities while consistently delivering value to shareholders.”