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
Significant segment expenses:
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

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		4,241			4,367			3,658
Off-Highway Business		3,628			3,568			2,829
Engineering Services		1,418			769			610

General and administrative		9,287			8,704			7,097

Depreciation and amortization
On-Highway Business		150			158			181
Off-Highway Business		548			416			290
Engineering Services		120			88			125

Depreciation and amortization		818			662			596

Segment operating (loss) income
On-Highway Business		672			403			1,119
Off-Highway Business		207			(75	)		1,941
Engineering Services		(930	)		921			(205	)

Segment Operating (Loss) income		(51	)		1,249			2,855

Reconciliation to (loss) income before income taxes:
Interest expenses, net
On-Highway Business		350			377			384
Off-Highway Business		838			865			647
Engineering Services		102			125			85

Interest expenses, net		1,290			1,367			1,116

Other segment items⁽¹⁾
On-Highway Business (1)		99			330			126
Off-Highway Business (1)		169			243			285
Engineering Services (1)		20			46			(5	)

Other segment items (1)		288			619			406

(Loss) income before income taxes
On-Highway Business		421			356			861
Off-Highway Business		(462	)		(697	)		1,579
Engineering Services		(1,012	)		842			(295	)

(Loss) income before income taxes		(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

		41,418			45,775			44,161