v3.26.3
Interim Condensed Consolidated Balance Sheets (Unaudited)
$ in Thousands, $ in Thousands
Jun. 30, 2026
USD ($)
Jun. 30, 2026
SGD ($)
Dec. 31, 2025
SGD ($)
Current assets:      
Cash and cash equivalents $ 11,660 $ 15,090 $ 9,931
Accounts receivable, net 7,767 10,051 7,411
Prepaid expenses and other current assets, net 454 587 837
Inventory 4,756 6,155 9,202
Total current assets 24,637 31,883 27,381
Financial instruments 590 764 764
Property, plant and equipment, net 3,214 4,159 3,735
Right-of-use assets, net 709 917 983
Other current assets, net 29 37 47
Deferred tax assets, net 57 74 74
Total non-current assets 4,599 5,951 5,603
TOTAL ASSETS 29,236 37,834 32,984
Current liabilities:      
Bank loans - current 873 1,130 1,152
Lease payable - current 76 98 191
Accounts payable, accruals, and other current liabilities 3,322 4,299 2,673
Warranty liabilities 17 22 22
Income taxes payable 566 732 205
Contract liabilities 8,293 10,732 5,815
Total current liabilities 13,147 17,013 10,058
Bank loans – non-current 1,725 2,232 2,870
Lease payable - non-current 41 53 217
Deferred tax liabilities 52 67 67
Total non-current liabilities 1,818 2,352 3,154
TOTAL LIABILITIES 14,965 19,365 13,212
Commitments and contingencies
Ordinary Shares US$ 0.003 par value per share, comprised of: - 23,333,333 Class A Ordinary Shares authorized and 1,806,666 Class A Ordinary Shares issued and outstanding as of December 31, 2025 and June 30, 2026* - 5,000,000 Class B Ordinary Shares authorized and 3,500,000 Class B Ordinary Shares issued and outstanding as of December 31, 2025 and June 30, 2026* - 5,000,000 shares authorized (not designated) and zero shares outstanding as of December 31, 2025 and June 30, 2026* 16 [1] 21 21
Additional paid-in capital 9,677 12,522 15,508
Treasury shares (53,946 and 64,447 acquired as of December 31, 2025 and June 30, 2026) (71) (92) (75)
Retained earnings 4,708 6,094 4,394
Accumulated other comprehensive loss (59) (76) (76)
Total shareholders’ equity 14,271 18,469 19,772
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 29,236 $ 37,834 $ 32,984
[1] Giving retroactive effect to the re-designation and re-classification of shares effected which are detailed in Note 13 to the unaudited interim condensed consolidated financial statements