Tat Seng Packaging Group Balance Sheet

Financials in millions SGD. Fiscal year is January - December.

Millions SGD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	110.17	97.47	104.24	82.78	93.7
Short-Term Investments	10.92	5.93	-	-	-
Cash & Short-Term Investments	121.09	103.4	104.24	82.78	93.7
Cash Growth	17.11%	-0.80%	25.92%	-11.65%	29.98%
Accounts Receivable	73.2	85.06	82.98	97.65	112.59
Receivables	73.2	85.06	82.98	97.65	112.59
Inventory	24.59	22.1	21.25	27.67	42.68
Total Current Assets	218.88	210.56	208.46	208.11	248.98
Property, Plant & Equipment	86.52	87.38	93.06	95.03	87.31
Long-Term Investments	22.29	26.53	16.16	-	-
Goodwill	1.01	1.03	1.02	1.07	1.17
Long-Term Accounts Receivable	0.2	0.22	0.21	0.02	0.04
Long-Term Deferred Tax Assets	2.17	2.79	2.98	3.66	3.64
Total Assets	331.07	328.5	321.89	307.88	341.13
Accounts Payable	36.55	21.63	20.46	23.84	31.49
Accrued Expenses	-	12.71	12.84	14.4	16.14
Short-Term Debt	-	60.68	35.13	43.18	48.67
Current Portion of Long-Term Debt	57.34	-	33.76	12.76	31.54
Current Portion of Leases	0.52	0.52	0.45	0.41	1.01
Current Income Taxes Payable	0.84	1.65	0.81	0.71	1.21
Current Unearned Revenue	0.22	0.25	0.27	0.28	0.3
Other Current Liabilities	-	6.79	4.18	4.59	5.41
Total Current Liabilities	95.46	104.23	107.89	100.16	135.77
Long-Term Debt	3.35	6.36	6.38	-	3.82
Long-Term Leases	6.11	-	-	6.53	0.51
Long-Term Unearned Revenue	0.71	0.94	1.19	1.3	1.72
Long-Term Deferred Tax Liabilities	2.86	3.49	3.6	2.9	3.31
Total Liabilities	108.49	115.02	119.07	110.89	145.12
Common Stock	31.44	31.44	31.44	31.44	31.44
Retained Earnings	191.54	180.94	169.97	158.99	144.61
Comprehensive Income & Other	-11.41	-9.97	-9.96	-5.23	7.32
Total Common Equity	211.56	202.41	191.46	185.2	183.36
Minority Interest	11.02	11.07	11.36	11.79	12.65
Shareholders' Equity	222.59	213.47	202.82	196.99	196.01
Total Liabilities & Equity	331.07	328.5	321.89	307.88	341.13
Total Debt	67.3	67.55	75.73	62.87	85.53
Net Cash (Debt)	53.79	35.85	28.52	19.91	8.17
Net Cash Growth	50.04%	25.72%	43.19%	143.78%	22.00%
Net Cash Per Share	0.34	0.23	0.18	0.13	0.05
Filing Date Shares Outstanding	157.2	157.2	157.2	157.2	157.2
Total Common Shares Outstanding	157.2	157.2	157.2	157.2	157.2
Working Capital	123.42	106.33	100.57	107.95	113.21
Book Value Per Share	1.35	1.29	1.22	1.18	1.17
Tangible Book Value	210.55	201.38	190.43	184.14	182.2
Tangible Book Value Per Share	1.34	1.28	1.21	1.17	1.16
Land	-	75.06	65	67.73	59.89
Machinery	-	104.78	103.34	104.31	109.12
Construction In Progress	-	0.29	10.22	5.06	5.09

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.