XML 22 R6.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Profit before tax $ 68,819 $ 55,217 $ 157,697
Adjustments for:      
Interest income (33,516) (18,919) (20,192)
Finance costs 12,742 13,425 8,199
Depreciation of property, plant and equipment 9,904 6,730 1,766
Amortization of intangible assets 9 115 857
Dividend income (8,616) (8,681) (9,935)
Gain on disposed financial assets at FVTPL and settled derivative financial assets (123,634)
Gain from a bargain purchase (4,469)
Gain on disposal of subsidiaries (1,388) (24,757) (64,328)
Net fair value changes on financial assets at FVTPL (except derivative financial assets) (44,005) (26,389) 40,899
Fair value gain on over-allotment option (126)
Share of losses of joint ventures 559 2,335
Impairment losses under expected credit loss model on financial assets 4,988
Operating cash flows before changes in working capital 3,823 (2,700) (5,817)
(Increase)/decrease in accounts receivable (100) (4,113) 10,668
Decrease/(increase) in prepayments, deposits and other receivables 2,455 (1,352) 5,326
Increase in other payables and accruals 3,595 1,159 15,570
(Increase)/decrease in restricted cash 664 (72) 280
Increase/(decrease) in provisions 743 142 (355)
Changes in accounts payable and other assets (2,730) 1,603 (1,156)
Payment of operating lease liabilities (247) (280) (81)
Cash generated from/(used in/ operations 8,203 (5,613) 24,435
Profits tax paid (862) (1,605)
Dividend received 8,616 8,681 9,935
Interest received 1,878 2,091 7,213
Net cash generated from operating activities 17,835 5,159 39,978
CASH FLOWS FROM INVESTING ACTIVITIES      
Addition to property, plant and equipment (746) (8) (72)
Addition to financial assets at FVTPL (150,000) (7,228) (1,591)
Decrease/(increase) in amount due from immediate holding company 59,314 (41,422) (404,364)
Acquisition of subsidiaries, net of cash acquired 4,273 1,347
Net cash outflow from disposal of subsidiaries (929) (953) (514)
Deposits paid for acquisitions (82,609)
Acquisition of additional interests in subsidiaries (1,647)
Collection of consideration receivable 90,687
Amount received from former subsidiaries 23,860
Amount received from a non-controlling shareholder of a subsidiary 20,000
Amount received from amounts due from joint ventures 6,515
Advance to a non-controlling shareholder of a subsidiary (1,561)
Proceeds from disposal of financial assets at FVTPL 373
Net cash used in investing activities (174,970) (45,338) (266,967)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from issuance of shares 93,600
Proceeds from issuance of shares of subsidiaries 163,166 100,000
Costs directly attributable to issuance of shares of subsidiaries (2,274)
Repayment of bank borrowings (164) (16,757) (396)
Repayment to non-controlling shareholder of a subsidiary (15,675)
Proceeds from bank borrowings 33,000 25,000
Distribution to perpetual securities holders (2,171) (4,305) (2,796)
Finance costs paid (13,082) (13,603) (6,060)
Net cash flows generated from/(used in) financing activities 145,475 (17,340) 209,348
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS (11,660) (57,519) (17,641)
Cash and cash equivalents at beginning of year 62,872 120,234 138,297
Effect of foreign exchange rate change, net (138) 157 (422)
CASH AND CASH EQUIVALENTS AT END OF YEAR 51,074 62,872 120,234
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS      
Cash and bank balances $ 51,074 $ 62,872 $ 120,234