To appreciate our loyal shareholders, the Board would like to recommend a final dividend of 1.60 cent per ordinary share. Subject to shareholders’ approval at our upcoming annual general meeting scheduled on 31 October 2025, the dividend is expected to be paid out to shareholders on or around 28 November 2025.

Dear Shareholders,

The global economy has been affected by trade policy uncertainties and simmering geopolitical tensions during the financial year ended 30 June 2025 (“FY2025”). Despite these challenges, the Group has maintained its unrelenting focus on executing our strategy, growing steadily through systematic business expansion and improving operational efficiency to remain competitive and continue to be a trusted partner to our clients.

Notwithstanding the tough operating conditions, the Group is committed to leverage our existing capabilities and track record to capitalise on opportunities in the digital economy arising from growing investments in data centres. Rising energy demand and ongoing efforts to combat climate change which provide additional impetus to develop the renewable energy sector. These key trends will reshape the business landscape and pave the way for future growth opportunities for the Group.

The Group will continue to strive to deliver sustainable growth and enhance shareholder value. Group revenue increased 19.98% from $400.68 million in the financial year ended 30 June 2024 (“FY2024”) to $480.73 million in the year under review with higher contributions from the Cable & Wire (“C&W”), Electrical Material Distribution (“EMD”) as well as Test & Inspection (“T&I”) segments, mainly driven by the expanding economy in the Southeast Asia region.

Gross profit increased from $66.43 million in the previous financial year to $80.20 million in FY2025. Gross profit margin improved marginally from 16.58% to 16.68% in line with the growth in revenue.

Other operating income decreased from $5.49 million to $5.29 million. This was primarily attributable to lower scrap sales and lower foreign exchange gain, arising from the fluctuation in the US dollar. However, this was partially offset by the gain on disposal of a subsidiary in Cambodia of $2.20 million.

Selling and distribution increased to $26.50 million due to higher contributions from our newly acquired Indonesian subsidiary, PT Elmecon Multikencana (“Elmecon”), as well as higher business operation and staff costs, which were in line with higher revenue. Administrative expenses increased to $24.19 million mainly due to higher staff costs and increased expenditure on information technology to support the Group’s expanding operations.

Other operating expenses decreased to $1.54 million mainly due to the absence of impairment losses in Cambodia recognised in FY2024, as well as lower loss allowance for trade receivables.

Finance costs increased to $2.68 million mainly due to higher utilisation of bank borrowings to finance the purchase of copper in FY2025.

Share of profit from associates decreased to $0.43 million mainly due to lower profits reported by the Nylect Group and the reclassification of Elmecon from an associate to a subsidiary following the acquisition of an additional stake during the year under review.

As a result of the above, the Group’s profit attributable to shareholders increased to $25.95 million in FY2025.

To appreciate our loyal shareholders, the Board would like to recommend a final dividend of 1.60 cent per ordinary share. Subject to shareholders’ approval at our upcoming annual general meeting scheduled on 31 October 2025, the dividend is expected to be paid out to shareholders on or around 28 November 2025. This will bring the total cash dividend payout for FY2025 to 2.35 cent per ordinary share.

As part of the Board renewal process, I will not be standing for re-election at the upcoming annual general meeting on 31 October 2025. It has been my privilege to serve on the Board and steer the Group’s transformation throughout these years. I am honoured to have been involved in the Group’s strategic development from a local cable manufacturer to its current standing as an integrated industrial group in Southeast Asia. When I joined the Board in 1997, the Group was about to embark on its listing on the secondary board of the Singapore TUAS MEGA PORT Exchange (“SGX”). The significant strides that the Group has made to date, including the subsequent transfer of its listing to the SGX Mainboard and our recent conferment by the National Volunteer and Philanthropy Centre (“NVPC”) as a Company of Good in recognition of our contributions to corporate purpose and impact, underscore the commitment of the Group to deliver sustainable shareholder value.

Finally, I would like to extend our heartfelt thanks to our shareholders, business partners and customers for their trust and confidence in the Group. I would also like to commend the collective efforts of our management team and employees to drive the organisation forward and scale greater heights together. The twin pillars of strategic innovation and operational excellence will enable the Group to build on its strong foundation and deliver greater value to our shareholders in the years ahead. On behalf of the Board of Directors, we thank you and look forward to your continued support.

Bobby Lim Chye Huat
Chairman