NOTES TO THE FINANCIAL STATEMENTS For the financial year ended 31 December 2025 23. PROFIT BEFORE TAX The following items have been included in arriving at profit before tax: Group 2025 2024 $’000 $’000 Audit services paid to: - – Auditor of the Company – Statutory audit 570 527 – Other assurance services 35 35 – Other auditors of subsidiaries 499 471 Non-audit services paid to: – Auditor of the Company 45 100 – Other auditors of subsidiaries 23 84 Loss on disposal and write-off of property, plant and equipment 2,768 322 Gain on disposal of asset held-for-sale (6,907) (588) Write-off of intangible assets 2,003 − Depreciation of property, plant and equipment (Note 4) 12,768 12,842 Depreciation of right-to-use assets (Note 27) 11,675 9,905 Amortisation of intangible assets (Note 7) 4,468 4,960 Write-down/(writeback) of inventories, net (Note 10) 838 (1,048) Allowance for expected credit loss on trade receivables, net (Note 11) 526 1,588 Provision for warranties made, net (Note 15) 42 651 Rental expenses for short-term leases (Note 27) 8,156 4,821 Settlement of arbitration # − 10,414 Personnel and related costs comprising: Salaries and bonuses 94,785 82,312 Share-based compensation * 2,750 2,427 Employees’ provident fund 5,090 4,804 Other personnel and related costs 15,869 15,576 Directors’ fees – Directors of the Company 477 513 * Under the performance share plan, the Group awards the performance shares by taking into account the profitability of the year. Accordingly, $2.75 million was recorded under share payment reserve upon achieving the full year target. # Relates to the full and final settlement of all claims asserted by a customer in the arbitration proceedings against Hankin Environmental Systems, Inc., a wholly owned subsidiary of the Company, in relation to delays in the performance of its contracted works in a project. A total of 2,148,361 (2024: 5,220,004) performance shares (“Performance Shares”) were awarded in February 2026 (2024: February 2025) to the Executive Director and key management personnel of the Company (the “Participants”) for their performance in FY2025 (2024: FY2024). Part of the Performance Shares awarded are subject to a moratorium period of 1 to 5 years from the date of award against any disposal or sale and/or other dealings in the shares. The Performance Shares will be released to the Participants via the release of Treasury shares. ANNUAL REPORT 2025 169
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