SingAsia Holdings Limited (8293) reported its annual results for the financial year ended 31 July 2025. The Group primarily provides manpower outsourcing, recruitment services, and, during the reporting period, launched corporate development and training services in Hong Kong.
The Group’s revenue stood at approximately S$12.23 million, a slight decrease of 0.7% compared to the previous year. Of this, manpower outsourcing services contributed around 72.6%, while manpower recruitment services accounted for 0.5%. Newly introduced corporate development and training services in Hong Kong generated around 26.9% of the total revenue.
Gross profit declined by roughly 32.5% compared to the prior year, reaching approximately S$2.04 million. The net loss narrowed significantly from about S$3.27 million in the previous year to approximately S$1.13 million this year. The decrease in net loss was mainly attributed to gains on changes in fair value of financial assets at fair value through profit or loss (FVTPL).
As of 31 July 2025, the Group recorded total assets of approximately S$7.47 million and total liabilities of about S$5.68 million, yielding total equity of roughly S$1.79 million. The current ratio stood at approximately 1.2 times, reflecting changes in working capital needs for the expansion of operations in Hong Kong.
During the year, the Group disposed of its 49% equity stake in an associate involved in serviced apartment and hostel operations. Separately, it acquired a 99% equity interest in a company based in Shenzhen. The Board does not recommend the payment of a final dividend for the reporting period.
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