ValueMax 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	22.42	16.81	15.47	10.99	14.6
Short-Term Investments	-	0.39	0.56	0.78	0.5
Cash & Short-Term Investments	22.42	17.2	16.03	11.76	15.1
Cash Growth	30.37%	7.25%	36.30%	-22.07%	22.27%
Accounts Receivable	867.13	735.8	733.96	644.45	365.01
Other Receivables	-	2.79	2.02	1.82	2.08
Receivables	867.13	738.59	740.42	657.81	377.17
Inventory	150.27	114.96	115.43	98.63	78.23
Prepaid Expenses	3.83	3.61	3.08	2.11	1.46
Total Current Assets	1,044	874.35	874.97	770.31	471.96
Property, Plant & Equipment	55.04	51.46	38.78	35.53	36.09
Long-Term Investments	62.59	49.84	31.69	28.91	26.74
Other Intangible Assets	0.31	0.31	0.31	0.31	0.31
Long-Term Accounts Receivable	398.57	269.68	129.58	174.13	262.72
Long-Term Deferred Charges	-	-	-	-	0.13
Other Long-Term Assets	-	1.46	1.26	1.19	1.19
Total Assets	1,560	1,247	1,077	1,010	799.12
Accounts Payable	12.26	0.09	0.09	0.4	0.42
Accrued Expenses	-	9.63	8.05	5.65	5.24
Short-Term Debt	-	124.1	92.91	64.75	24.97
Current Portion of Long-Term Debt	820.92	519.49	474.48	515.33	381.65
Current Portion of Leases	5.48	5.13	4.4	4.75	4.36
Current Income Taxes Payable	21.29	14.42	9.74	8.2	7.38
Other Current Liabilities	13.75	1.34	1.89	2.14	2.05
Total Current Liabilities	873.7	674.19	591.56	601.22	426.06
Long-Term Debt	66.32	46.34	49.39	33.3	39.06
Long-Term Leases	5.37	5.9	3.62	3.71	3.56
Long-Term Deferred Tax Liabilities	2.37	2.27	2.51	2.54	2.49
Other Long-Term Liabilities	0.6	0.61	0.59	0.6	0.55
Total Liabilities	948.36	729.31	647.67	641.37	471.72
Common Stock	217.45	191.57	168.33	145.09	133.75
Retained Earnings	394.44	328.66	264.92	226.7	195.41
Treasury Stock	-0.03	-0.03	-0.03	-0.03	-0.03
Comprehensive Income & Other	-6.46	-8.14	-9.79	-7.88	-6.81
Total Common Equity	605.41	512.06	423.44	363.89	322.32
Minority Interest	6.39	5.73	5.48	5.12	5.08
Shareholders' Equity	611.8	517.79	428.92	369.01	327.41
Total Liabilities & Equity	1,560	1,247	1,077	1,010	799.12
Total Debt	898.09	700.95	624.81	621.84	453.6
Net Cash (Debt)	-875.67	-683.76	-608.78	-610.08	-438.5
Net Cash Per Share	-0.92	-0.74	-0.81	-0.85	-0.67
Filing Date Shares Outstanding	940.1	869.24	803.66	731.59	698.41
Total Common Shares Outstanding	940.1	868.21	803.66	731.59	698.41
Working Capital	169.95	200.16	283.4	169.09	45.9
Book Value Per Share	0.64	0.59	0.53	0.50	0.46
Tangible Book Value	605.1	511.75	423.13	363.58	322.01
Tangible Book Value Per Share	0.64	0.59	0.53	0.50	0.46
Machinery	-	7.48	7.36	6.78	6.42

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