BUSINESS SEGMENT AND DISAGGREGATION OF REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

SCHEDULE OF DISAGGREGATION OF REVENUE BY BUSINESS SEGMENT

The following tables present the Company’s revenue disaggregated by business segment and geography, based on management’s assessment of available data:

	2025			2024			2023
	Financial Years Ended December 31,
	2025			2024			2023
	$’000			$’000			$’000

Revenue
On-Highway Business		24,511			25,837			26,900
Off-Highway Business		29,330			31,315			32,621
Engineering Services		4,584			5,589			3,172

Revenue from external customers		58,425			62,741			62,693

Cost of revenue
On-Highway Business		18,867			20,247			21,349
Off-Highway Business		24,446			26,436			26,731
Engineering Services		3,891			3,756			2,617

Cost of revenue		47,204			50,439			50,697

Gross profit
On-Highway Business		5,644			5,589			5,551
Off-Highway Business		4,884			4,879			5,890
Engineering Services		693			1,834			555

Gross profit		11,221			12,302			11,996

Selling and distribution
On-Highway Business		581			662			593
Off-Highway Business		501			970			830
Engineering Services		85			55			25

Selling and distribution		1,167			1,687			1,448

General and administrative
On-Highway Business		4,391			4,526			3,840
Off-Highway Business		4,176			3,983			3,118
Engineering Services		1,538			857			735

General and administrative		10,105			9,366			7,693

(Loss) profit from operations
On-Highway Business		672			774			1,118
Off-Highway Business		207			(447	)		1,942
Engineering Services		(930	)		922			(205	)

(Loss) profit from operations		(51	)		1,249			2,855

Other expense
On-Highway Business		251			46			258
Off-Highway Business		669			622			362
Engineering Services		82			80			90

Other expense		1,002			748			710

Segment (loss) profit
On-Highway Business		421			728			860
Off-Highway Business		(462	)		(1,069	)		1,580
Engineering Services		(1,012	)		842			(295	)

Segment (loss) profit		(1,053	)		501			2,145

Segment assets
On-Highway Business		14,942			14,847			15,254
Off-Highway Business		19,470			25,380			23,778
Engineering Services		7,006			5,548			5,129

Segment assets		41,418			45,775			44,161