British and Malayan Holdings (CJN) H1 2025 earnings summary

Executive summary

• Revenue rose 21% YoY to S$748,000, mainly from new private trust clients; the half-year loss before tax edged down to S$793,000 from S$796,000.

• Cash and other short-term investments totaled S$6.728 million, or 74% of net assets; debt obligations were zero.

Financial highlights

• Total income was S$935,000, down 5% YoY; operating revenue increased to S$748,000 from S$617,000.

• Loss after tax was S$793,000 versus S$796,000 a year earlier; basic and diluted EPS were both S$0.09 loss per share.

• Net cash used in operating activities was S$1.436 million; ending cash and cash equivalents were S$3.555 million, down from S$4.924 million at 30 June 2024.

Outlook and guidance

• Management is building the pipeline of new customer leads through greater visibility with trust service-support providers, with the aim of supporting revenue growth.

• The core trustee business is positioned for future revenue growth; exploration continues for alternative revenue and profit streams, new investments and entry into new markets.