BENG SOON MACH(01987) - 2025 - 中期业绩

Interim Financial Statements Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income For H1 2025, revenue increased 19.6% to 16.7 million SGD, with loss attributable to owners narrowing to 0.65 million SGD Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income (For the six months ended June 30) | Metric | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Revenue | 16,738,006 | 13,989,129 | | Cost of sales and services | (12,180,894) | (10,585,156) | | Gross Profit | 4,557,112 | 3,403,973 | | Other income | 182,956 | 193,371 | | Other gains — net | 74,930 | 216,104 | | Reversal of expected credit losses on trade receivables | 158,116 | – | | Selling and distribution expenses | (154,811) | (116,517) | | Administrative expenses | (5,216,278) | (4,939,100) | | Operating Loss | (397,975) | (1,242,169) | | Finance costs | (161,058) | (123,554) | | Loss Before Tax | (559,033) | (1,365,723) | | Income tax (expense)/credit | (87,239) | 31,687 | | Loss for the period attributable to owners of the Company | (646,272) | (1,334,036) | | Total Comprehensive Loss | (661,079) | (1,333,809) | | Basic and diluted loss per share (SGD cents) | (0.06) | (0.13) | Condensed Consolidated Statement of Financial Position As at June 30, 2025, total assets slightly decreased due to lower cash, with equity and liabilities remaining stable Condensed Consolidated Statement of Financial Position (As at June 30) | Metric | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | ASSETS | | | | Total Non-current Assets | 24,109,889 | 24,492,306 | | Total Current Assets | 31,919,572 | 31,774,971 | | Total Assets | 56,029,461 | 56,267,277 | | EQUITY | | | | Total Equity attributable to owners of the Company | 39,722,450 | 40,383,529 | | LIABILITIES | | | | Total Non-current Liabilities | 10,274,535 | 10,436,627 | | Total Current Liabilities | 6,032,476 | 5,447,121 | | Total Liabilities | 16,307,011 | 15,883,748 | | Total Equity and Liabilities | 56,029,461 | 56,267,277 | Notes to the Condensed Consolidated Interim Financial Statements 1 General Information Beng Soon Machinery Holdings Limited was incorporated in 2018, listed in 2019, and operates demolition services in Singapore - The Company was incorporated in the Cayman Islands on April 6, 2018, and listed on the Main Board of the Stock Exchange of Hong Kong on November 8, 2019[7] - The Group's principal activities are providing demolition services, selling inventory, and leasing machinery in Singapore[7] - The condensed consolidated interim financial statements are presented in Singapore Dollars ("SGD"), the Company's functional currency[8] 2 Basis of Preparation and Significant Accounting Policies This section outlines the basis of preparation for interim financial statements, adhering to IAS 34 and HKEX Listing Rules - The unaudited condensed consolidated interim financial statements are prepared in accordance with International Accounting Standard 34 "Interim Financial Reporting" and the applicable disclosure requirements of Appendix D2 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[10] - The accounting policies applied are consistent with those applied in the annual financial statements for the year ended December 31, 2024, except as described in Note 3[11] - Income tax for the six months ended June 30, 2025 and 2024, is accrued using the tax rate applicable to the expected total annual profit[11] 3 Adoption of New and Revised IFRSs The Group has consistently applied all new and revised IFRSs during the period but has not yet adopted those issued but not yet effective - The Group has consistently applied all new and revised International Financial Reporting Standards and amendments issued by the International Accounting Standards Board and the IFRS Interpretations Committee throughout the period[12] - The Group has not early adopted any new and revised IFRSs that have been issued but are not yet effective[12] - The Group is currently assessing the impact of adopting these new and revised IFRSs on its results and financial position[12] 4 Financial Risk Management and Capital Risk Management The Group aims to safeguard its ability to continue as a going concern and provide returns to shareholders by optimizing its capital structure - The Group's objective in managing capital is to safeguard its ability to continue as a going concern, provide returns to shareholders, and benefit other stakeholders, while maintaining an optimal capital structure to reduce the cost of capital[13] Capital Management (As at June 30) | Metric | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Lease liabilities | 11,466,999 | 11,281,148 | | Less: Cash and cash equivalents | (13,190,225) | (14,061,636) | | Net cash | (1,723,226) | (2,780,488) | | Total equity | 39,722,450 | 40,383,529 | | Total capital | 37,999,224 | 37,603,041 | | Gearing ratio | Not applicable | Not applicable | - Financial assets at fair value through profit or loss primarily consist of keyman insurance contracts, whose fair value is determined by their cash surrender value[16][17][19] 5 Revenue The Group's revenue primarily derives from providing demolition services, with total revenue increasing by 19.6% to 16.7 million SGD Revenue Breakdown (For the six months ended June 30) | Revenue Source | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Revenue recognized from providing demolition services | 16,209,621 | 12,830,654 | | Others | 528,385 | 1,158,475 | | Total Revenue | 16,738,006 | 13,989,129 | - Revenue from providing demolition services includes net amounts directly paid by project owners, proceeds from the disposal of scrap materials from demolition sites, and proceeds from earth disposal[22] 6 Other Income and Other Gains — Net Other income slightly decreased, while other gains net significantly reduced, mainly due to lower gains from asset disposal Other Income and Other Gains — Net (For the six months ended June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Other income: | | | | Interest income | 116,697 | 166,778 | | Government grants | 42,259 | 2,593 | | Rental income from investment properties | 24,000 | 24,000 | | Total Other Income | 182,956 | 193,371 | | Other gains/(losses) — net: | | | | Gain on disposal of property, plant and equipment | 72,000 | 213,888 | | Fair value gain on financial assets at fair value through profit or loss | 2,889 | 2,812 | | Net foreign exchange gain/(loss) | 41 | (596) | | Total Other Gains — Net | 74,930 | 216,104 | 7 Loss Before Tax Loss before tax significantly narrowed to 559,033 SGD in H1 2025, influenced by employee benefits and depreciation Loss Before Tax Components (For the six months ended June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Employee benefits expense (including directors' emoluments) | 5,440,847 | 6,136,918 | | Depreciation | 1,919,997 | 2,130,363 | | Auditor's remuneration | 35,020 | 35,681 | | Short-term lease related expenses | 335,784 | 321,437 | - Employee benefits expense primarily includes wages, salaries, bonuses, other benefits, and retirement benefit costs[25] 8 Finance Costs The Group's finance costs increased to 161,058 SGD in H1 2025 from 123,554 SGD in H1 2024 Finance Costs (For the six months ended June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Finance costs | 161,058 | 123,554 | 9 Income Tax Expense/(Credit) The Group recorded an income tax expense of 87,239 SGD in H1 2025, compared to a credit of 31,687 SGD in H1 2024 Income Tax Expense/(Credit) (For the six months ended June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Current tax — Singapore | 18,222 | – | | Deferred tax — Singapore | 69,017 | (31,687) | | Income Tax Expense/(Credit) | 87,239 | (31,687) | - Singapore corporate tax expense is provided at a rate of 17% on the estimated assessable profit[27] - No provision for Hong Kong profits tax was made as the Group had no assessable profit for both periods[27] 10 Loss Per Share Basic loss per share improved to 0.06 SGD cents in H1 2025 from 0.13 SGD cents in H1 2024 Loss Per Share (For the six months ended June 30) | Metric | 2025 | 2024 | | :--- | :--- | :--- | | Loss attributable to owners of the Company (SGD) | (646,272) | (1,334,036) | | Weighted average number of ordinary shares in issue | 1,000,000,000 | 1,000,000,000 | | Basic loss per share (SGD cents) | (0.06) | (0.13) | - Diluted loss per share is equal to basic loss per share as there are no outstanding potential dilutive ordinary shares[30] 11 Trade Receivables Net trade receivables slightly increased to 4,425,701 SGD as at June 30, 2025, with a typical 30-day credit period Trade Receivables (As at June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Trade receivables from third parties | 4,507,584 | 4,452,676 | | Less: Provision for expected credit losses on trade receivables | (384,432) | (542,548) | | Subtotal | 4,123,152 | 3,910,128 | | Retention monies | 302,549 | 439,831 | | Total | 4,425,701 | 4,349,959 | Aging Analysis of Trade Receivables (As at June 30) | Aging | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Within 30 days | 2,914,265 | 3,142,811 | | 31 to 60 days | 494,866 | 331,582 | | 61 to 90 days | 431,895 | 394,650 | | 91 to 120 days | 282,126 | 41,085 | | Total | 4,123,152 | 3,910,128 | 12 Deposits, Prepayments and Other Receivables Total deposits, prepayments, and other receivables significantly increased to 2,012,262 SGD as at June 30, 2025, driven by prepayments Deposits, Prepayments and Other Receivables (As at June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Deposits paid to third parties | 117,190 | 90,930 | | Loans to staff | 5,451 | 3,200 | | Prepayments | 1,868,522 | 151,626 | | Other receivables | 21,099 | 38 | | Total Current Portion | 2,012,262 | 245,794 | 13 Cash and Cash Equivalents Cash and cash equivalents decreased to 13,190,225 SGD as at June 30, 2025, mainly due to reductions in bank cash and fixed deposits Cash and Cash Equivalents (As at June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Cash at bank | 1,985,225 | 2,056,636 | | Cash on hand | 5,000 | 5,000 | | Unsecured fixed deposits with banks | 11,200,000 | 12,000,000 | | Total | 13,190,225 | 14,061,636 | 14 Trade and Other Payables Total trade and other payables increased to 3,704,875 SGD as at June 30, 2025, primarily driven by higher trade payables Trade and Other Payables (As at June 30) | Item | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Trade payables | 2,620,479 | 1,874,765 | | Accrued expenses | 831,004 | 829,362 | | Other payables | 253,392 | 538,981 | | Total | 3,704,875 | 3,243,108 | Aging Analysis of Trade Payables (As at June 30) | Aging | 2025 (SGD) | 2024 (SGD) | | :--- | :--- | :--- | | Up to 30 days | 1,720,629 | 1,159,905 | | 31 to 60 days | 717,950 | 564,361 | | 61 to 90 days | 176,961 | 131,113 | | 91 to 120 days | 4,939 | 19,386 | | Total | 2,620,479 | 1,874,765 | 15 Share Capital The Company's authorized and issued share capital remained unchanged as at June 30, 2025 Share Capital Movement (As at June 30) | Item | Number of Shares | Share Capital (HKD/SGD) | | :--- | :--- | :--- | | Authorized: | | | | Ordinary shares of HKD0.01 each | | | | December 31, 2024 and June 30, 2025 | 10,000,000,000 | 100,000,000 | | Issued and fully paid: | | | | Ordinary shares of HKD0.01 each | | | | December 31, 2024 and June 30, 2025 | 1,000,000,000 | 1,742,159 | 16 Other Reserves Total other reserves slightly decreased to 21,623,843 SGD as at June 30, 2025, due to exchange differences from foreign operations Movement in Other Reserves Attributable to Owners of the Company (As at June 30) | Item | Share Premium (SGD) | Other Reserves (SGD) | Exchange Fluctuation Reserve (SGD) | Total (SGD) | | :--- | :--- | :--- | :--- | :--- | | January 1, 2024 | 2,000,000 | 19,853,646 | (163,808) | 21,689,838 | | Exchange differences arising from translation of foreign operations | – | – | (62,699) | (62,699) | | Exchange differences realised on derecognition of a subsidiary | – | – | 11,511 | 11,511 | | December 31, 2024 and January 1, 2025 | 2,000,000 | 19,853,646 | (214,996) | 21,638,650 | | Exchange differences arising from translation of foreign operations | – | – | (14,807) | (14,807) | | June 30, 2025 | 2,000,000 | 19,853,646 | (229,803) | 21,623,843 | 17 Dividends No dividends were paid, declared, or proposed during the period, nor have any been declared since the end of the interim period[38] 18 Capital Commitments As at June 30, 2025, the Group had no capital commitments[39] 19 Performance Guarantees The Group held performance guarantees totaling 3,402,071 SGD for project completion and 300,000 SGD for foreign worker employment regulations - The Group has performance guarantees issued by banks and insurance companies for the completion of works amounting to 3,402,071 SGD (December 31, 2024: 3,559,071 SGD)[40] - The Group has performance guarantees issued under Regulation 12 of the Employment of Foreign Manpower (Work Passes) Regulations amounting to 300,000 SGD (December 31, 2024: 305,000 SGD)[40] 20 Events After the Reporting Period As at the date of this announcement, there have been no significant events after the reporting period for the Company or the Group[41] Management Discussion and Analysis Overall Review and Business Review The Group is a leading demolition service provider in Singapore, holding licenses for unlimited bidding, with 10 projects completed and 7 ongoing in H1 2025 - The Group is an established and leading demolition service provider in Singapore, operating in both public and private sectors for over 30 years[43] - The Group holds CR03 "Demolition" workhead (Single Grade), CW01 "General Building" workhead (C3 grade), and CW02 "Civil Engineering" workhead (C1 grade) licenses, with the Single Grade license and General Builder Class 1 license allowing the Group to tender for demolition projects of unlimited tender/contract value[44] - In H1 2025, the Group completed ten projects, including three factory buildings, three commercial buildings, two industrial facilities, one power plant, and one reinstatement of temporary occupation land[45] - As at June 30, 2025, the Group had seven ongoing demolition projects, including three factory building projects, one industrial building, one commercial building, one school building, and one residential building[48] Outlook and Prospects Singapore's construction sector is booming, with 47 billion to 53 billion SGD in contracts projected for 2025, driving demolition demand - The Building and Construction Authority of Singapore forecasts 47 billion SGD to 53 billion SGD in construction contracts to be awarded in 2025, indicating sustained demand for public infrastructure projects[52] - Demand in the demolition industry has significantly increased, with government incentives, such as grants for adopting advanced demolition techniques and methods, further stimulating growth in the sector[54] - The Group has focused on capitalizing on these opportunities, advancing its strategic projects, and exploring new partnerships to enhance shareholder value[55] Revenue In H1 2025, the Group's revenue increased 19.3% to approximately 16.7 million SGD, primarily from demolition projects - The Group's revenue for H1 2025 was approximately 16.7 million SGD, an increase of approximately 19.3% from approximately 14.0 million SGD in H1 2024, due to the completion of more projects contributing higher revenue during the period[56] Revenue Breakdown by Nature of Work Undertaken (For the six months ended June 30) | Item | 2025 (thousand SGD) | 2024 (thousand SGD) | | :--- | :--- | :--- | | Net contract amount | 8,151 | 2,772 | | Proceeds from disposal of scrap materials | 7,590 | 9,931 | | Proceeds from earth disposal | 469 | 127 | | Other revenue | 528 | 1,159 | | Total Revenue | 16,738 | 13,989 | Cost of Sales and Services Cost of sales and services increased 15.1% to approximately 12.2 million SGD in H1 2025, mainly due to increased subcontractor involvement - The Group's cost of sales and services increased by 15.1% from approximately 10.6 million SGD in H1 2024 to approximately 12.2 million SGD in H1 2025[60] - This increase was primarily due to increased subcontractor involvement in projects[60] Cost of Sales and Services Breakdown (For the six months ended June 30) | Item | 2025 (thousand SGD) | 2024 (thousand SGD) | | :--- | :--- | :--- | | Direct labour costs | 2,042 | 1,681 | | Depreciation | 1,376 | 1,155 | | Raw materials, consumables and other expenses | 2,953 | 2,973 | | Subcontractor fees | 4,537 | 1,986 | | Repair and maintenance expenses | 364 | 487 | | Transportation expenses | 86 | 1,295 | | Others | 823 | 1,008 | | Total Cost of Sales and Services | 12,181 | 10,585 | Gross Profit and Gross Profit Margin Gross profit increased 35.3% to 4.6 million SGD in H1 2025, with the gross profit margin rising to 27.2% due to improved contract margins - The Group's gross profit increased by approximately 1.2 million SGD or 35.3% from approximately 3.4 million SGD in H1 2024 to approximately 4.6 million SGD in H1 2025[61] - The Group recorded a gross profit margin of approximately 27.2% in H1 2025, compared to 24.3% in H1 2024[61] - The increase in the Group's gross profit margin was due to improved profit margins on contract amounts[61] Administrative Expenses Administrative expenses increased 6.1% to approximately 5.2 million SGD in H1 2025, mainly comprising staff costs and depreciation - The Group's administrative expenses in H1 2025 were approximately 5.2 million SGD, an increase of 0.3 million SGD or 6.1% from approximately 4.9 million SGD in H1 2024[62] - Administrative expenses primarily include staff costs and depreciation costs for the Group's property, office equipment, and motor vehicles[62] Other Income Other income remained stable at 0.2 million SGD in H1 2025, primarily from interest income and government grants - In H1 2025, the Group's other income was 0.2 million SGD, showing no significant change compared to H1 2024[63] - The main sources of income during the period were interest income from bank deposits and government grants[63] Other Gains Other gains decreased to 0.1 million SGD in H1 2025, mainly due to reduced gains from asset disposal - In H1 2025, the Group's other gains were 0.1 million SGD (H1 2024: 0.2 million SGD)[64] - This decrease was primarily due to reduced gains from the disposal of property, plant, and equipment[64] Finance Costs Finance costs remained stable at approximately 0.2 million SGD in H1 2025 compared to H1 2024[65] Income Tax Expense Income tax expense was 87,000 SGD in H1 2025, compared to a 32,000 SGD credit in H1 2024, due to current tax and deferred tax asset recognition - In H1 2025, the Group's income tax expense was 87,000 SGD (H1 2024: income tax credit of 32,000 SGD)[66] - This increase was primarily due to current tax expense in Singapore and the recognition of deferred tax assets for tax losses during the period[66] Loss Attributable to Owners of the Company Loss attributable to owners of the Company narrowed to approximately 0.7 million SGD in H1 2025 from 1.3 million SGD in H1 2024[67] Capital Structure, Liquidity and Financial Resources The Group maintains a robust financial position with stable cash flow, recording a net cash position and net current assets of approximately 25.9 million SGD - The Group's capital structure comprises debt (including borrowings and obligations under finance leases), net of bank deposits, bank balances, cash, and equity attributable to owners of the Group (including share capital and reserves)[68] - The Group recorded a net cash position as at June 30, 2025 and December 31, 2024, thus the gearing ratio, calculated as debt divided by total equity, is not applicable[70] - The Group's net current assets were approximately 25.9 million SGD, a decrease of approximately 0.4 million SGD or 1.5% from 26.3 million SGD as at December 31, 2024[72] - The Group's cash and cash equivalents as at June 30, 2025 were approximately 13.2 million SGD, compared to 14.1 million SGD as at December 31, 2024[72] Treasury Policy The Group's financing and treasury activities are centrally managed, with bank borrowings in SGD at floating rates, and no speculative derivative transactions - The Group's financing and treasury activities are centrally managed and controlled at the corporate level[71] - The Company's bank borrowings are denominated in SGD and bear interest at floating rates[71] - It is the Company's policy not to enter into derivative transactions for speculative purposes[71] Contingent Liabilities As at June 30, 2025, the Group had no significant contingent liabilities or pending litigations[73] Capital Commitments As at June 30, 2025, the Group had no capital commitments[74] Significant Acquisitions or Disposals of Subsidiaries and Affiliated Companies In H1 2025, the Group did not undertake any significant acquisitions or disposals of subsidiaries, associates, or joint ventures[75] Future Plans for Material Investments or Capital Assets As at June 30, 2025, the Group had no specific plans for material investments or capital assets for the coming year[76] Employee Information and Remuneration Policy As at June 30, 2025, the Group had 130 employees, with remuneration based on market practice and an adopted share option scheme - As at June 30, 2025, the Group had 130 employees, a decrease of one from the number of employees as at December 31, 2024[77] - Remuneration offered to employees generally includes salaries and bonuses, determined with reference to market practice and individual employee's performance, qualifications, and position[77] - The Company has adopted a share option scheme, under which share options may be granted to directors and eligible employees as incentives[77] Results and Interim Dividend The Group's H1 2025 results are presented in the financial statements, and no interim dividend is recommended - The Group's results for H1 2025 and its financial position are set out in the unaudited condensed consolidated financial statements on pages 1 to 4 of this announcement[78] - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[79] Material Investments Held As at June 30, 2025, the Group held no material investments other than those disclosed in this interim results announcement[80] Pledge of the Group's Assets Leasehold land and buildings with a carrying value of approximately 4.0 million SGD were pledged as collateral for credit facilities - As at June 30, 2025, the Group's leasehold land and buildings with a carrying value of approximately 4.0 million SGD (December 31, 2024: 4.2 million SGD) were pledged to a licensed bank as collateral for credit facilities granted to the Group[81] Foreign Exchange Risk The Group operates primarily in Singapore, with most income and expenses in SGD, thus incurring no significant foreign exchange risk - The Group operates its business in Singapore, and the majority of its income and expenses are denominated in SGD, which is the Company's functional currency[82] - The Group does not have significant foreign exchange risk and does not use any financial instruments for hedging[82] Use of Proceeds from Listing Net listing proceeds of approximately 77.5 million HKD were utilized as planned, with 2.5 million HKD remaining for excavator purchases - The net proceeds from the listing, approximately 77.5 million HKD, have been utilized in accordance with the intended allocation set out in the prospectus[83] Allocation Details of Net Proceeds from Listing and Utilized Net Proceeds (For H1 2025) | Use of Net Proceeds | Intended Amount (thousand HKD) | Unutilized Net Proceeds as at beginning of H1 2025 (thousand HKD) | Net Proceeds utilized during H1 2025 (thousand HKD) | Unutilized Net Proceeds as at end of H1 2025 (thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Purchase of excavators and accessories to strengthen the fleet | 51,200 | 10,988 | 8,499 | 2,489 | | Repayment of bank borrowings | 13,500 | – | – | – | | Recruitment of additional staff | 9,100 | – | – | – | | Engagement of professional consultants to review internal management systems | 2,200 | 668 | 668 | – | | General working capital of the Group | 1,500 | – | – | – | | Total | 77,500 | 11,656 | 9,167 | 2,489 | - As at June 30, 2025, the unutilized net proceeds of approximately 2.5 million HKD are expected to be fully utilized for the purchase of excavators of different capacities and their accessories on or before December 31, 2025[84] Other Information Corporate Governance The Company maintains high corporate governance standards, complying with Listing Rules, with the Chairman and CEO roles combined for effective management - The Company has adopted the code provisions set out in the Corporate Governance Code contained in Appendix C1 to the Listing Rules[85] - The Company has complied with all code provisions of the Corporate Governance Code for H1 2025, except for a deviation from code provision C.2.1 regarding the segregation of the roles of chairman and chief executive[85] - The Board believes that Mr. Tan's dual role as Chairman and Chief Executive Officer allows for efficient management and business development, serving the Group's best interests, and the presence of three independent non-executive directors enhances the Board's independence[85] Directors' and Chief Executive's Interests and Short Positions in Shares, Underlying Shares and Debentures of the Company or any Associated Corporation As at H1 2025, Mr. Tan Chee Beng held a 50.56% long position in the Company's shares, with no other directors holding relevant interests Directors' and Chief Executive's Long Positions in Shares (As at end of H1 2025) | Name | Capacity/Nature of Interest | Number of Shares | Percentage of Equity Interest | | :--- | :--- | :--- | :--- | | Mr. Tan Beng Chee | Interest in controlled corporation (Note 2) | 341,700,000 | 34.17% | | Mr. Tan Beng Chee | Spouse's interest (Note 3) | 163,900,000 | 16.39% | | Total | | 505,600,000 | 50.56% | - Mr. Tan beneficially owns all issued shares of TCB Investment Holdings Limited, which holds 34.17% of the shares[88] - Mr. Tan is the spouse of Ms. Lee Peck Kim, who holds 16.39% of the shares[88] - As at the end of H1 2025, no director or chief executive of the Company had or was deemed to have any interests or short positions in the shares, underlying shares, or debentures of the Company or its associated corporations as recorded in the register required under Section 352 of the Securities and Futures Ordinance[89] Major Shareholders' Interests and Short Positions in Shares and Underlying Shares Major shareholders TCB Investment Holdings Limited and K Luxe Holdings Limited held 34.17% and 16.39% long positions, respectively, as at H1 2025 Major Shareholders' Long Positions in Shares (As at end of H1 2025) | Name/Company Name | Capacity/Nature of Interest | Number of Shares | Percentage of Shareholding | | :--- | :--- | :--- | :--- | | TCB Investment Holdings Limited | Beneficial owner | 341,700,000 | 34.17% | | K Luxe Holdings Limited | Beneficial owner | 163,900,000 | 16.39% | | Ms. Lee Peck Kim | Interest in controlled corporation (Note 1) | 505,600,000 | 50.56% | | Ms. Lee Peck Kim | Spouse's interest (Note 2) | 505,600,000 | 50.56% | - Ms. Lee beneficially owns all issued shares of K Luxe, which holds 16.39% of the shares[90] - Ms. Lee is the spouse of Mr. Tan and is therefore deemed or taken to be interested in the shares in which Mr. Tan has an interest[90] Rights to Acquire Shares or Debentures by Directors In H1 2025, no arrangements were made for directors to acquire shares or debentures of the Company or any other body corporate[92] Directors' Interests in Competing Business As at the date of this announcement, no director or controlling shareholder held any competing business or interest with the Group's operations[93] Purchase, Sale or Redemption of the Company's Listed Securities In H1 2025, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities[94] Share Option Scheme The Company adopted a share option scheme in 2019 to attract talent, with 100,000,000 shares available, but no options were granted or exercised - The Company conditionally approved and adopted a share option scheme on October 15, 2019, which will be valid for a period of ten years from the adoption date[95] - The share option scheme aims to attract and retain the best personnel, provide additional incentives to the Group's employees, directors, consultants, advisors, distributors, contractors, suppliers, agents, customers, business partners, and service providers, and promote the success of the Group's business[95] - As at the beginning and end of H1 2025, the total number of shares of the Company available for issue under the share option scheme was 100,000,000 shares, representing 10% of the Company's issued share capital[96] - As at the end of H1 2025, no share options had been granted, exercised, cancelled, or lapsed under the share option scheme, and there were no outstanding share options[96] Standard of Dealings by Directors in Securities The Company adopted the Listing Rules' Model Code for directors' securities transactions, with all directors confirming compliance in H1 2025[97] Handling and Dissemination of Inside Information The Group strictly adheres to SFO and Listing Rules for inside information disclosure, prohibiting unauthorized use and ensuring prompt reporting to the Board - The Group recognizes its obligations under the provisions of Part XIVA of the Securities and Futures Ordinance and the Listing Rules regarding the disclosure of inside information to the public[98] - The Group strictly prohibits its directors and employees from unauthorized use of confidential or inside information for their own benefit or that of others[98] - Any inside information and any information that may constitute inside information will be promptly identified, assessed, and reported to the Board for a decision on whether disclosure is required[98] Audit Committee The Audit Committee, comprising three independent non-executive directors, reviewed and approved the Group's H1 2025 interim financial results - The Audit Committee comprises three independent non-executive directors, namely Mr. Leung Yau Wan, Mr. Leung Kei Wai, and Mr. Wee Chorng Kien[99] - Mr. Leung Yau Wan serves as the Chairman of the Audit Committee and possesses the appropriate professional qualifications and financial expertise as required by Rules 3.10(2) and 3.21 of the Listing Rules[99] - The Group's interim financial results for the six months ended June 30, 2025, are unaudited but have been reviewed and approved by the Audit Committee[100] By Order of the Board This announcement was issued by Chairman and CEO TAN CHEE BENG on August 29, 2025, with the Board comprising four executive and three independent non-executive directors - This announcement was issued by TAN CHEE BENG, Chairman and Chief Executive Officer of BENG SOON MACHINERY HOLDINGS LIMITED, on August 29, 2025[102][103] - The Company's Board of Directors comprises four executive directors (Mr. Tan Chee Beng, Mr. Tan Wei Leong, Ms. Tang Ling Ling, and Mr. Cheong Kam Fai) and three independent non-executive directors (Mr. Leung Yau Wan, Mr. Leung Kei Wai, and Mr. Wee Chorng Kien)[103]