v3.26.1
Revenue by segment
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Revenue by segment

Note 13 – Revenue by segment

 

In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision-making group, in deciding how to allocate resources and in assessing performance. The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. Management, including the chief operating decision maker, reviews operation results by the revenue of different services. Based on management’s assessment, the Company has determined that it has two operating segments as defined by ASC 280 as follow:

 

  1. Swim fees
  2. Sales of merchandise
  3. Pickleball

 

Information regarding the results of each reportable segment is included below. Performance is measured based on segment revenue and gross profit, as included in the internal management reports that are reviewed by the Company’s CODM. Both segment revenue and gross profit are used to measure performance as management believes that such information is the most relevant in evaluating the level of activities and results of these segments.

 

      S$’000    S$’000        S$’000      S$’000   
   For the Six Months Ended  June 30, 2025 
   Swim fees  

Sales of

merchandise

   Pickleball   Total 
      S$’000    S$’000        S$’000      S$’000   
Revenue   2,158    4    -    2,162 
Gross profit (loss)   628    (4)   -    624 

 

      S$’000    S$’000        S$’000        S$’000   
   For the Six Months Ended June 30, 2026 
   Swim fees  

Sales of

merchandise

   Pickleball   Total 
      S$’000    S$’000        S$’000        S$’000   
Revenue   2,038    4    3    2,045 
Gross profit (loss)   484    (38)   -*   446 

 

-*Below S$1,000

 

Revenue by Geographic Segment

    2025     2026  
   

For the Six Months Ended

June 30,

 
    2025     2026  
    S$’000     S$’000  
Singapore     2,162       2,015  
Dubai     -       30  
 Revenue     2,162       2,045