VibroPower Responds to SGX Queries on 1H FY25 Financials

MT Newswires11-22

VibroPower (SGX:BJD) addressed queries from the Singapore Exchange regarding its H1 FY25 financials, according to a Thursday filing on the Singapore Exchange.

The company provided a breakdown of assets and liabilities held for sale, totaling SG$4.7 million and SG$3.7 million, respectively. It explained other expenses of SG$573,000 in discontinued operations, mainly from adjustments following the disposal of SXWN.

VibroPower also clarified a SG$3.8 million drop in trade receivables due to lower sales and receipt of outstanding payments. It confirmed an increase in credit loss allowance to SG$1.9 million, driven by uncollectible debts, including customer liquidations and disputes.

The company revealed a SG$2 million loan from CEO Benedict Chen Onn Meng, with 1% monthly interest, repayable by August 2025. It also disclosed a SG$540,000 impairment loss from a terminated contract with Puretech Engineering.

Regarding project delays, VibroPower attributed the setbacks to the customer's construction site not being ready. It further disclosed related party transactions totaling SG$668,000 with Mason Industries.

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