Jubilee Industries Holdings Ltd. FY2025 Financial Review

Jubilee Industries Holdings Ltd. has released its audited financial statements for the year ended 31 March 2025, accompanied by detailed notes on material variances between the unaudited and audited figures. The Group underwent notable changes during the year, including the disposal of its subsidiary and significant asset reclassifications. Below is a structured analysis of key financial metrics, performance trends, exceptional events, and actionable recommendations for investors.

Key Financial Metrics

Note: The lack of disclosed EPS and dividends suggests either negative performance or omission from the report. The removal of revenue and gross profit in the audited accounts is explained by the disposal of the Group’s main operating subsidiary, with related items reclassified to discontinued operations.

Historical Performance Trends and Exceptional Items

• Revenue and Gross Profit: The Group reported zero revenue and gross profit in the audited results, versus S\$1.59 million revenue and S\$98,000 gross profit in the unaudited accounts. This was due to the disposal of WE Total Engineering Sdn. Bhd., with financial figures reclassified to discontinued operations.
• Operating and Net Loss: The loss for the year increased substantially after audit adjustments, rising from S\$3.56 million to S\$6.35 million. This was primarily due to impairments and write-offs of receivables, in addition to losses from discontinued operations.
• Exceptional Expenses: Major one-off items include S\$2.12 million allowance for impairment of receivables and S\$616,000 of written-off receivables, both recognized in the audited accounts.
• Asset Reclassification: Investment properties were recognized at S\$3.18 million, offsetting a decrease in trade and other receivables (down 48%). This reflected the transfer of control over certain properties and related outstanding receivables.
• Cash Flows: Net cash used in operations worsened after audit, largely due to the additional impairments. Investing cash flows decreased due to a net advance to related parties, while financing outflows increased due to repayments to related holding companies.
• Comprehensive Loss: Total comprehensive loss nearly doubled after final audit adjustments, driven by the above factors.

Corporate Actions and Events Impacting Performance

• Disposal of Subsidiary: The sale of WE Total Engineering Sdn. Bhd. removed the Group’s revenue-generating capabilities for the period, with corresponding reclassification of financial items.
• Impairments and Write-offs: Significant provisions and write-offs of receivables impacted profitability and reflected a challenging operating environment or unsuccessful collection of outstanding accounts.
• No Dividend Announced: There is no indication of dividend payment for the year, which may disappoint income-seeking investors.
• No Mention of Director Remuneration, Share Buybacks, or Dilution: These items were not disclosed in the report.

Chairman’s Statement and Board Commentary

“The Board wishes to announce that subsequent to the release of the Unaudited Financial Statement, there were certain reclassifications and adjustments made to the Unaudited Financial Statements following the finalisation of the audit. The detailed explanations with corresponding line items are set out as follows…”

— Dato’ Terence Tea Yeok Kian, Executive Chairman and Chief Executive Officer, 12 September 2025

Tone Analysis: The statement is factual and corrective, focusing on transparency regarding audit adjustments and reclassifications. The absence of forward-looking optimism or strategic commentary reflects a neutral-to-negative tone.

Conclusion and Investment Recommendations

Summary: Jubilee Industries Holdings Ltd. posted a sharply higher net loss for FY2025 after audit adjustments, with no revenue recognized from continuing operations and a major subsidiary disposed of. The company faced significant impairments and write-offs, and its comprehensive loss almost doubled post-audit.

• If you currently hold the stock: Consider reducing or exiting your position. The Group is no longer generating revenue, posted substantial losses, and has disposed of its main operating subsidiary, which may signal ongoing financial challenges and strategic uncertainty.
• If you do not hold the stock: Avoid initiating a position at this time. The absence of operational income, major impairments, and lack of dividend payment suggest poor fundamentals and high risk until further clarity emerges on new business direction or profitability.

Disclaimer: The above recommendations are based solely on the disclosed financial statements for FY2025. Investors should conduct further due diligence and consult with a qualified financial advisor before making any investment decisions.

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