{
 "company": "Huationg Global Limited",
 "ticker": "SGX:41B",
 "source_page": "https://smidresearch.com/companies/huationg/",
 "information_cutoff": "24 September 2026",
 "licence": "Public evidence-library figures as filed by the issuer and recomputed by SMID Research; cite the page and its information cut-off. No rating, fair value, price target or recommendation is included. Not investment advice.",
 "tables": [
  {
   "index": 1,
   "section": "One dominant engine and three support lanes",
   "caption": "Reported segments, FY2025 (audited). External and inter-segment revenue as disclosed; inter-segment revenue is eliminated on consolidation. Segment result is the reported segment line, which does not sum to group profit before tax of S$24.685m because of unallocated group items.",
   "headers": [
    "Segment",
    "External revenue (S$'000)",
    "Inter-segment revenue (S$'000)",
    "Segment result (S$'000)"
   ],
   "rows": [
    [
     "Civil engineering contract works",
     "279,309",
     "24,675",
     "21,317"
    ],
    [
     "Inland logistics support",
     "16,103",
     "21,251",
     "1,966"
    ],
    [
     "Sales of construction materials",
     "3,431",
     "14,977",
     "411"
    ],
    [
     "Dormitory operation",
     "0",
     "0",
     "0"
    ],
    [
     "Group",
     "298,843",
     "60,903",
     "Profit before tax 24,685"
    ]
   ]
  },
  {
   "index": 2,
   "section": "The reported series, FY2023 to 1H2026",
   "caption": "Consolidated income statement, audited financial years FY2023 to FY2025 and reviewed half-years 1H2025 and 1H2026 (S$'000 unless stated). The FY2024 column follows the later audited presentation; the foreign worker levy reclassification is set out in the next section. Gross margins are computed from the disclosed revenue and gross profit.",
   "headers": [
    "S$'000 unless stated",
    "FY2023",
    "FY2024",
    "FY2025",
    "1H2025",
    "1H2026"
   ],
   "rows": [
    [
     "Revenue",
     "174,591",
     "226,365",
     "298,843",
     "120,582",
     "197,799"
    ],
    [
     "Cost of sales",
     "(128,879)",
     "(185,203)",
     "(249,438)",
     "(99,448)",
     "(178,657)"
    ],
    [
     "Gross profit",
     "45,712",
     "41,162",
     "49,405",
     "21,134",
     "19,142"
    ],
    [
     "Gross margin",
     "26.2%",
     "18.2%",
     "16.5%",
     "17.5%",
     "9.7%"
    ],
    [
     "Profit before tax",
     "17,569",
     "20,002",
     "24,685",
     "10,675",
     "10,182"
    ],
    [
     "Profit attributable to owners",
     "14,274",
     "16,356",
     "19,141",
     "8,677",
     "7,743"
    ],
    [
     "Earnings per share (cents)",
     "8.05",
     "9.23",
     "10.80",
     "4.90",
     "4.25"
    ]
   ]
  },
  {
   "index": 3,
   "section": "The reported series, FY2023 to 1H2026",
   "caption": "Consolidated cash-flow statement, audited financial years and the reviewed half-year (S$'000). The contract-position movement is the reported working-capital line for contract assets net of contract liabilities.",
   "headers": [
    "S$'000",
    "FY2023",
    "FY2024",
    "FY2025",
    "1H2026"
   ],
   "rows": [
    [
     "Net cash from operating activities",
     "73,929",
     "76,830",
     "34,580",
     "(24,382)"
    ],
    [
     "Operating cash before working capital",
     "39,578",
     "45,365",
     "48,970",
     "20,853"
    ],
    [
     "Contract-position movement",
     "35,962",
     "29,008",
     "(27,373)",
     "(54,080)"
    ],
    [
     "Purchase of property, plant and equipment",
     "(5,067)",
     "(34,427)",
     "(24,700)",
     "(38,717)"
    ],
    [
     "Net cash used in investing",
     "(4,329)",
     "(33,966)",
     "(22,492)",
     "(41,870)"
    ],
    [
     "Net cash from (used in) financing",
     "(21,974)",
     "(2,893)",
     "1,864",
     "8,438"
    ],
    [
     "Dividends paid",
     "(1,418)",
     "(1,772)",
     "(1,950)",
     "(1,890)"
    ]
   ]
  },
  {
   "index": 4,
   "section": "The balance sheet and where the funding now comes from",
   "caption": "Borrowings and leases, audited financial years and the reviewed half-year (S$'000). The 1H2026 bank-borrowings total is the sum of the disclosed current S$68.662m and non-current S$11.943m captions; the June 2026 note presents the borrowing lines in its maturity table rather than by instrument, so the trust-receipt balance is left as n/d for the half. The net financial position is computed from the rows above, and the 1H2026 figure is the net debt position.",
   "headers": [
    "S$'000",
    "FY2024",
    "FY2025",
    "1H2026"
   ],
   "rows": [
    [
     "Cash and cash equivalents",
     "110,662",
     "124,614",
     "66,800"
    ],
    [
     "Bank borrowings",
     "56,436",
     "71,525",
     "80,605"
    ],
    [
     "Lease liabilities",
     "31,980",
     "22,459",
     "18,797"
    ],
    [
     "Total loans and borrowings",
     "88,416",
     "93,984",
     "99,402"
    ],
    [
     "of which trust receipts",
     "27,807",
     "37,925",
     "n/d"
    ],
    [
     "Net financial position",
     "22,246",
     "30,630",
     "(32,602)"
    ]
   ]
  },
  {
   "index": 5,
   "section": "Share price record",
   "caption": "Every threshold-detected move in the 36-month window: 37 moves, all retained from the public price-driver map. Residual means the move remains large after both the Straits Times Index and the median peer return are subtracted.",
   "headers": [
    "#",
    "Session",
    "41B",
    "STI",
    "Peers",
    "Left over",
    "Control result",
    "What the evidence supports"
   ],
   "rows": [
    [
     "1",
     "25 Oct 2023",
     "+8.76%",
     "-0.17%",
     "+0.00%",
     "+8.92%",
     "Residual",
     "Against an index move of −0.2% and a peer median of +0.0%, about 9 points are left over; 0.1× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "2",
     "10 Nov 2023",
     "-10.76%",
     "-0.91%",
     "+0.00%",
     "-9.85%",
     "Residual",
     "Against an index move of −0.9% and a peer median of +0.0%, about 11 points are left over; 0.1× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "3",
     "1 Apr 2024",
     "+7.25%",
     "+0.34%",
     "+1.14%",
     "+6.91%",
     "Residual",
     "Against an index move of +0.3% and a peer median of +1.1%, about 6 points are left over; 97.2× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +1.14% over this session."
    ],
    [
     "4",
     "3 Apr 2024",
     "+6.08%",
     "-0.77%",
     "+0.00%",
     "+6.85%",
     "Residual",
     "Against an index move of −0.8% and a peer median of +0.0%, about 6 points are left over; 1.3× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "5",
     "4 Apr 2024",
     "+5.10%",
     "+0.38%",
     "+0.00%",
     "+4.71%",
     "Residual",
     "Against an index move of +0.4% and a peer median of +0.0%, about 5 points are left over; 1.6× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "6",
     "week to 5 Apr 2024",
     "+19.57%",
     "-0.18%",
     "+1.49%",
     "+19.74%",
     "Residual",
     "Weekly window, 2024-03-28 to 2024-04-05: against an index move of −0.2% and a peer median of +1.5%, about 18 points are left over. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +1.49% over this window."
    ],
    [
     "7",
     "9 Apr 2024",
     "-9.09%",
     "+0.67%",
     "+0.00%",
     "-9.76%",
     "Residual",
     "Against an index move of +0.7% and a peer median of +0.0%, about 9 points are left over; 1.3× median volume. Coincided with the filing “General Announcement - CHANGES IN THE COMPOSITION OF THE BOARD AND BOARD COMMITTEES” (release order not established). The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "8",
     "26 Apr 2024",
     "+8.50%",
     "-0.23%",
     "+0.00%",
     "+8.73%",
     "Residual",
     "Against an index move of −0.2% and a peer median of +0.0%, about 8 points are left over; 1.0× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "9",
     "29 Apr 2024",
     "-7.23%",
     "+0.06%",
     "+1.64%",
     "-7.29%",
     "Residual",
     "AGM day (29 April 2024): the amendment to the AGM presentation slides and the ESOS status filings were both released after the session closed; no filing precedes the session. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +1.64% over this session."
    ],
    [
     "10",
     "8 Jul 2024",
     "-16.87%",
     "-0.19%",
     "+0.00%",
     "-16.69%",
     "Residual",
     "Against an index move of −0.2% and a peer median of +0.0%, about 17 points are left over; 9.5× median volume. Followed the filing “Financial Statements and Related Announcement - Profit Guidance”, released 5 Jul 2024, 18:08. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "11",
     "9 Jul 2024",
     "-7.52%",
     "+0.64%",
     "+0.00%",
     "-8.15%",
     "Residual",
     "Against an index move of +0.6% and a peer median of +0.0%, about 8 points are left over; 3.9× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "12",
     "week to 12 Jul 2024",
     "-20.62%",
     "+2.55%",
     "+0.78%",
     "-23.17%",
     "Residual",
     "Weekly window, 2024-07-05 to 2024-07-12: against an index move of +2.5% and a peer median of +0.8%, about 21 points are left over. The week included the filing “Financial Statements and Related Announcement - Profit Guidance” (5 Jul 2024, 18:08). The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.78% over this window."
    ],
    [
     "13",
     "15 Aug 2024",
     "+8.80%",
     "+0.90%",
     "+0.00%",
     "+7.90%",
     "Residual",
     "Against an index move of +0.9% and a peer median of +0.0%, about 9 points are left over; 5.1× median volume. Followed the filing “Financial Statements and Related Announcement - Half Yearly Results”, released 14 Aug 2024, 20:06. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "14",
     "27 Jan 2025",
     "+31.90%",
     "-0.20%",
     "+0.00%",
     "+32.10%",
     "Residual",
     "No filing in the window. The session precedes the 10 February 2025 profit guidance; the register records sequence only. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "15",
     "week to 31 Jan 2025",
     "+34.97%",
     "+1.36%",
     "+2.19%",
     "+33.61%",
     "Residual",
     "No filing in the window. The session precedes the 10 February 2025 profit guidance. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +2.19% over this window."
    ],
    [
     "16",
     "7 Feb 2025",
     "+15.91%",
     "+0.81%",
     "+2.44%",
     "+15.10%",
     "Residual",
     "No filing in the window. The session precedes the 10 February 2025 profit guidance. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +2.44% over this session."
    ],
    [
     "17",
     "11 Feb 2025",
     "+12.50%",
     "-0.37%",
     "+0.00%",
     "+12.87%",
     "Residual",
     "Against an index move of −0.4% and a peer median of +0.0%, about 12 points are left over; 9.9× median volume. Followed the filing “Financial Statements and Related Announcement - Profit Guidance”, released 10 Feb 2025, 17:51. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "18",
     "19 Feb 2025",
     "+11.76%",
     "+0.22%",
     "+0.00%",
     "+11.55%",
     "Residual",
     "No filing in the window; the FY2024 results were released on 28 February 2025, after this session. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "19",
     "3 Mar 2025",
     "-16.98%",
     "+0.34%",
     "+0.00%",
     "-17.32%",
     "Residual",
     "Against an index move of +0.3% and a peer median of +0.0%, about 17 points are left over; 7.1× median volume. Followed the filing “Financial Statements and Related Announcement - Full Yearly Results”, released 28 Feb 2025, 21:14. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "20",
     "week to 17 Apr 2025",
     "+17.50%",
     "+5.92%",
     "+0.80%",
     "+11.58%",
     "Residual",
     "Weekly window, 2025-04-11 to 2025-04-17: against an index move of +5.9% and a peer median of +0.8%, about 17 points are left over. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.80% over this window."
    ],
    [
     "21",
     "5 May 2025",
     "+11.63%",
     "+0.21%",
     "+0.00%",
     "+11.42%",
     "Residual",
     "Against an index move of +0.2% and a peer median of +0.0%, about 12 points are left over; 1.1× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "22",
     "3 Jun 2025",
     "+9.80%",
     "+0.10%",
     "+0.00%",
     "+9.71%",
     "Residual",
     "Against an index move of +0.1% and a peer median of +0.0%, about 10 points are left over; 1.9× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "23",
     "24 Jun 2025",
     "+14.04%",
     "+0.65%",
     "+2.27%",
     "+13.39%",
     "Residual",
     "Against an index move of +0.7% and a peer median of +2.3%, about 12 points are left over; 7.2× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +2.27% over this session."
    ],
    [
     "24",
     "week to 11 Jul 2025",
     "+24.56%",
     "+1.85%",
     "+11.58%",
     "+22.71%",
     "Residual",
     "No filing in the window. The largest volume multiple in the window (19.3x median). Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +11.58% over this window."
    ],
    [
     "25",
     "15 Jul 2025",
     "+10.53%",
     "+0.26%",
     "+1.77%",
     "+10.27%",
     "Residual",
     "Against an index move of +0.3% and a peer median of +1.8%, about 9 points are left over; 10.0× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +1.77% over this session."
    ],
    [
     "26",
     "week to 22 Aug 2025",
     "+19.44%",
     "+0.53%",
     "+2.89%",
     "+18.91%",
     "Residual",
     "No filing in the window; the 1H2025 results were released on 13 August 2025, outside the candidate window. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +2.89% over this window."
    ],
    [
     "27",
     "25 Aug 2025",
     "+11.63%",
     "+0.08%",
     "+1.18%",
     "+11.55%",
     "Residual",
     "No filing in the window. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +1.18% over this session."
    ],
    [
     "28",
     "22 Dec 2025",
     "-7.27%",
     "+0.89%",
     "+1.20%",
     "-8.16%",
     "Residual",
     "The −7.3% print came on 0.01x median volume; the register reads it as a thin-market print rather than a re-rating. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +1.20% over this session."
    ],
    [
     "29",
     "19 Jan 2026",
     "+7.89%",
     "-0.29%",
     "+0.00%",
     "+8.19%",
     "Residual",
     "No filing in the window. The session precedes the placement announcement of 26 January 2026. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "30",
     "week to 23 Jan 2026",
     "+15.79%",
     "+0.87%",
     "+2.25%",
     "+14.92%",
     "Residual",
     "No filing in the window. The session precedes the placement announcement of 26 January 2026. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +2.25% over this window."
    ],
    [
     "31",
     "3 Feb 2026",
     "+7.25%",
     "+1.06%",
     "+3.23%",
     "+6.19%",
     "Residual",
     "The placement completion, the press release and the listing-and-quotation notice were released after the session closed (21:50); the rise during the session cannot be tied to their timing and is recorded by date only. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +3.23% over this session."
    ],
    [
     "32",
     "23 Mar 2026",
     "-8.47%",
     "-2.17%",
     "-3.97%",
     "-6.30%",
     "Residual",
     "Against an index move of −2.2% and a peer median of −4.0%, about 4 points are left over; 5.5× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was -3.97% over this session."
    ],
    [
     "33",
     "8 Apr 2026",
     "+10.19%",
     "+0.77%",
     "+0.00%",
     "+9.42%",
     "Residual",
     "Against an index move of +0.8% and a peer median of +0.0%, about 10 points are left over; 6.7× median volume. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "34",
     "13 Aug 2026",
     "-6.12%",
     "-0.01%",
     "+0.00%",
     "-6.11%",
     "Residual",
     "Followed the half-year results and the interim dividend notice, both released 12 August 2026 after the close (−6.1%). The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "35",
     "17 Aug 2026",
     "-6.38%",
     "+0.43%",
     "+0.00%",
     "-6.82%",
     "Residual",
     "The latest preceding filing is the receipt of a third-party notice (14 August 2026, 18:49); the half-year results and interim dividend of 12 August also precede the session (−6.4%). The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ],
    [
     "36",
     "week to 21 Aug 2026",
     "-16.31%",
     "-0.95%",
     "-2.27%",
     "-15.36%",
     "Residual",
     "Weekly window, 17 to 21 August 2026: the week included the receipt of a third-party notice (14 August) and the half-year corporate presentation deck (19 August); release order within the week is not established (−16.3%). The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was -2.27% over this window."
    ],
    [
     "37",
     "24 Aug 2026",
     "-6.78%",
     "-0.15%",
     "+0.00%",
     "-6.63%",
     "Residual",
     "No material filing in the window; the daily share buy-back notices of 17 and 19 August are routine disclosures. Price movement is not attributed to a supported catalyst in this record. The Straits Times Index and the peer median are shown beside the move; a residual is what is left over, not a cause. Peer control: the session-aligned median of CSC Holdings (C06.SI), Wee Hur Holdings (E3B.SI), Hock Lian Seng Holdings (J2T.SI), Koh Brothers Group (K75.SI), Pan-United Corporation (P52.SI) was +0.00% over this session."
    ]
   ]
  }
 ]
}