{
 "company": "Lincotrade & Associates Holdings Limited",
 "ticker": "SGX:BFT",
 "source_page": "https://smidresearch.com/companies/lincotrade/",
 "information_cutoff": "3 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": "The five-year record, and what is not comparable in it",
   "caption": "",
   "headers": [
    "S$m except per share",
    "FY2022",
    "FY2023",
    "FY2024",
    "FY2025",
    "FY2026"
   ],
   "rows": [
    [
     "Revenue",
     "39.3",
     "69.9",
     "67.9",
     "73.6",
     "129.5"
    ],
    [
     "Gross profit",
     "4.7",
     "7.3",
     "7.9",
     "9.2",
     "17.3"
    ],
    [
     "Gross margin",
     "11.9%",
     "10.4%",
     "11.6%",
     "12.5%",
     "13.3%"
    ],
    [
     "Profit attributable to owners",
     "0.6",
     "(8.7)",
     "2.3",
     "2.6",
     "8.1"
    ],
    [
     "Earnings per share",
     "0.55c",
     "(5.24)c",
     "1.33c",
     "1.49c",
     "4.54c"
    ],
    [
     "Dividends declared per share",
     "—",
     "0.00c",
     "0.70c",
     "0.66c",
     "1.78c"
    ],
    [
     "Net cash from operating activities",
     "1.0",
     "4.7",
     "5.5",
     "0.8",
     "(2.3)"
    ],
    [
     "Purchases of property, plant and equipment",
     "(0.1)",
     "(0.4)",
     "(10.3)",
     "(1.1)",
     "(3.1)"
    ],
    [
     "Free cash flow",
     "0.9",
     "4.3",
     "(4.8)",
     "(0.4)",
     "(5.4)"
    ],
    [
     "Cash and cash equivalents",
     "6.2",
     "12.7",
     "11.5",
     "12.6",
     "17.7"
    ],
    [
     "Other financial liabilities",
     "10.7",
     "13.1",
     "17.3",
     "20.8",
     "34.0"
    ],
    [
     "Project working capital / revenue",
     "22.1%",
     "10.5%",
     "7.7%",
     "9.5%",
     "15.5%"
    ],
    [
     "Net asset value per share",
     "—",
     "—",
     "—",
     "7.21c",
     "10.89c"
    ]
   ]
  },
  {
   "index": 2,
   "section": "The five-year record, and what is not comparable in it",
   "caption": "",
   "headers": [
    "S$m",
    "1H FY2025",
    "2H FY2025",
    "1H FY2026",
    "2H FY2026"
   ],
   "rows": [
    [
     "Revenue",
     "33.7",
     "40.0",
     "53.3",
     "76.2"
    ],
    [
     "Gross profit",
     "4.1",
     "5.1",
     "8.0",
     "9.3"
    ],
    [
     "Gross margin",
     "12.2%",
     "12.8%",
     "15.0%",
     "12.2%"
    ],
    [
     "Profit attributable to owners",
     "0.7",
     "1.8",
     "3.9",
     "4.2"
    ],
    [
     "Net cash from operating activities",
     "4.1",
     "(3.3)",
     "0.9",
     "(3.2)"
    ]
   ]
  },
  {
   "index": 3,
   "section": "The order book, the awards, and what an award is not",
   "caption": "",
   "headers": [
    "As at",
    "Order book",
    "What the filing said"
   ],
   "rows": [
    [
     "17 June 2022",
     "S$76.7m",
     "Latest practicable date of the reverse-takeover circular; to be fulfilled over the following two years"
    ],
    [
     "30 September 2023",
     "S$70.0m",
     "After two office fit-out wins totalling S$28.1m announced on 17 October 2023"
    ],
    [
     "31 December 2023",
     "S$47.0m",
     "Half-year results"
    ],
    [
     "30 June 2024",
     "S$39.5m",
     "The lowest figure on record"
    ],
    [
     "30 September 2024",
     "S$56.0m",
     "After S$31.0m of wins in the July to September quarter, including a first Johor commercial contract"
    ],
    [
     "31 December 2024",
     "S$53.9m",
     "Half-year results"
    ],
    [
     "31 March 2025",
     "S$81.0m",
     "Comparative given in the May 2026 order announcement"
    ],
    [
     "30 June 2025",
     "S$68.9m",
     "Full-year results; 89.6% commercial per the press release"
    ],
    [
     "30 September 2025",
     "S$113.0m",
     "After S$61.0m of wins in the quarter, all Singapore"
    ],
    [
     "31 December 2025",
     "S$117.2m",
     "Includes a S$29.1m data-centre contract secured in the first half"
    ],
    [
     "31 March 2026",
     "S$107.0m",
     "After seven commercial wins of S$16.8m, one of them a S$8.2m public-sector project"
    ],
    [
     "30 June 2026",
     "S$106.2m",
     "Excludes the S$70.0m award announced on 3 August 2026"
    ]
   ]
  },
  {
   "index": 4,
   "section": "FY2026: why a record profit was not cash",
   "caption": "",
   "headers": [
    "FY2026 operating cash flow, S$m",
    "Amount",
    "What it is"
   ],
   "rows": [
    [
     "Operating cash flow before working capital",
     "12.4",
     "Profit before tax plus depreciation, interest and other non-cash items"
    ],
    [
     "Change in contract assets",
     "(15.0)",
     "Work done and recognised but not yet certified for billing"
    ],
    [
     "Change in trade and other receivables",
     "(11.0)",
     "Certified and billed but not yet collected"
    ],
    [
     "Change in trade and other payables",
     "13.0",
     "Subcontractors and suppliers funding part of the build"
    ],
    [
     "Change in inventories",
     "0.3",
     "—"
    ],
    [
     "Change in other non-financial assets",
     "(0.4)",
     "—"
    ],
    [
     "Cash generated from operations",
     "(0.8)",
     "After the working-capital movements above"
    ],
    [
     "Interest paid",
     "(0.6)",
     "Classified in operating activities"
    ],
    [
     "Income tax paid",
     "(1.0)",
     "—"
    ],
    [
     "Net cash from operating activities",
     "(2.3)",
     "Against S$8.1m of profit attributable to owners"
    ]
   ]
  },
  {
   "index": 5,
   "section": "Funding: short-dated, secured, and undisclosed at the edges",
   "caption": "",
   "headers": [
    "At 30 June, S$m",
    "FY2025",
    "FY2026",
    "What it is"
   ],
   "rows": [
    [
     "Bills payable",
     "13.2",
     "26.2",
     "Trade bills of 7 to 112 days, floating rate"
    ],
    [
     "Term loan on the Tuas property",
     "6.9",
     "6.2",
     "Secured on the JTC leasehold"
    ],
    [
     "Revolving credit",
     "0.6",
     "1.5",
     "Secured on leasehold property, drawn at company level"
    ],
    [
     "Working-capital term loan",
     "0.1",
     "0.0",
     "Fixed at 2.00%; fully repaid during FY2026"
    ],
    [
     "Other financial liabilities",
     "20.8",
     "34.0",
     "Note 19 total"
    ],
    [
     "Lease liabilities",
     "0.1",
     "0.4",
     "—"
    ],
    [
     "Cash and cash equivalents",
     "12.6",
     "17.7",
     "Balance-sheet figure"
    ],
    [
     "of which pledged fixed deposits",
     "4.4",
     "3.6",
     "Security for bank facilities"
    ],
    [
     "Net debt",
     "8.3",
     "16.7",
     "Gross debt less balance-sheet cash"
    ],
    [
     "Current share of financial liabilities",
     "70.0%",
     "83.7%",
     "Due within twelve months"
    ],
    [
     "Gross debt / EBITDA",
     "4.25x",
     "2.82x",
     "Screening ratio; EBITDA adds back the bills interest charged to cost of sales"
    ],
    [
     "Interest cover, total-interest basis",
     "4.9x",
     "12.6x",
     "Includes the bills interest reported inside cost of sales"
    ],
    [
     "Cash / current financial liabilities",
     "0.86x",
     "0.62x",
     "Short-duration funding exposure"
    ]
   ]
  },
  {
   "index": 6,
   "section": "Ownership, governance and where the capital is going",
   "caption": "",
   "headers": [
    "Holder at 16 September 2025",
    "Shares",
    "Share of issued capital"
   ],
   "rows": [
    [
     "Tan Jit Meng, co-founder",
     "45,454,545",
     "26.42%"
    ],
    [
     "Soh Loong Chow Jackie, co-founder",
     "45,454,545",
     "26.42%"
    ],
    [
     "Wee Henry, direct",
     "24,411,499",
     "14.19%"
    ],
    [
     "Wee Henry, deemed",
     "15,399,000",
     "8.95%"
    ],
    [
     "Tan Chee Khoon",
     "23,520,518",
     "13.67%"
    ],
    [
     "Moomoo Financial Singapore, nominee",
     "9,941,618",
     "5.78%"
    ],
    [
     "Citibank Nominees Singapore",
     "9,864,000",
     "5.73%"
    ],
    [
     "Nomura Singapore",
     "6,859,000",
     "3.99%"
    ]
   ]
  },
  {
   "index": 7,
   "section": "Share price record",
   "caption": "Every threshold-detected move in the window — 27 sessions and 6 weekly windows — with its market and sector controls, dispositioned in the price-driver register. Ten rows were written up by hand and carry a numbered pin on the chart; the rest are dispositioned mechanically from the two controls and the enumerated tape, and say so in their own words.",
   "headers": [
    "#",
    "Session",
    "BFT",
    "STI",
    "Peers",
    "Left over",
    "Control result",
    "What the evidence supports"
   ],
   "rows": [
    [
     "1",
     "21 Nov 2023",
     "−71.9%",
     "−0.5%",
     "+0.0%",
     "−71.9%",
     "Residual",
     "The window's largest single-session fall, on a 4,000-share print — 0.1× the median volume of the preceding 60 sessions. Against an index move of −0.5% and a peer median of +0.0%, the whole 71.9% is left over. The recorded close went from 0.285 to 0.08, and back to 0.173 two sessions later (row 2). No filing beyond routine notices in the prior three sessions. On volume this thin the close is a single trade rather than a repricing, and the arithmetic above should be read that way. ISOTeam +0.0% · OKP +0.0% · BRC Asia +0.0%"
    ],
    [
     "2",
     "23 Nov 2023",
     "+116.2%",
     "−0.1%",
     "+0.0%",
     "+116.2%",
     "Residual",
     "The reversal of the 21 November print, two sessions later: 0.08 to 0.173 on 17,600 shares, 0.4× median volume, against an index move of −0.1% and an unmoved peer median, so about 116 points are left over. No filing beyond routine notices in the prior three sessions. Taken together the two sessions moved the recorded close from 0.285 to 0.173 on fewer than 22,000 shares. ISOTeam +0.0% · OKP +0.0% · BRC Asia +0.6%"
    ],
    [
     "3",
     "24 Nov 2023",
     "−39.3%",
     "−1.0%",
     "+2.5%",
     "−41.8%",
     "Residual",
     "The week to 24 Nov 2023 took the close from 0.285 to 0.173, −39.3% against an index move of −1.0% and a peer median of +2.5%, leaving about 42 points. The week included no filing beyond routine notices. It records the same two prints as rows 1 and 2. ISOTeam +2.5% · OKP +0.0% · BRC Asia +5.4%"
    ],
    [
     "4",
     "26 Feb 2024",
     "−49.5%",
     "−0.4%",
     "+0.0%",
     "−49.5%",
     "Residual",
     "Against an index move of −0.4% and a peer median of +0.0%, about 49 points are left over; 4,000 shares, 0.1× median volume, taking the close from 0.198 to 0.1. No filing beyond routine notices in the prior three sessions. ISOTeam +0.0% · OKP −2.0% · BRC Asia +0.0%"
    ],
    [
     "5",
     "1 Mar 2024",
     "−41.9%",
     "−1.5%",
     "+0.0%",
     "−41.9%",
     "Residual",
     "The week to 1 March 2024 took the close from 0.198 to 0.115 on 118,000 shares, 3.3× median volume and the heaviest week of the window to that point. The index fell 1.5% and the peer median did not move, leaving about 42 points. The week included no filing beyond routine notices; the 6M2024 results, the dividend policy and the maiden interim dividend of 0.38 Singapore cents had all been filed on 14 February, the week before. ISOTeam +0.0% · OKP +4.1% · BRC Asia −0.5%"
    ],
    [
     "6",
     "8 Mar 2024",
     "+69.6%",
     "+0.4%",
     "+0.0%",
     "+69.6%",
     "Residual",
     "Against an index move of +0.4% and a peer median of +0.0%, about 70 points are left over; 3,400 shares, 0.1× median volume, taking the close from 0.115 to 0.195. No filing beyond routine notices in the prior three sessions. ISOTeam +0.0% · OKP −2.0% · BRC Asia +1.1%"
    ],
    [
     "7",
     "19 Apr 2024",
     "+50.8%",
     "−1.3%",
     "+1.6%",
     "+49.3%",
     "Residual",
     "The week to 19 Apr 2024 took the close from 0.122 to 0.184, +50.8% against an index move of −1.3% and a peer median of +1.6%, leaving about 49 points. The week included no filing beyond routine notices. The vendor series records no shares traded in the week. ISOTeam +2.4% · OKP −1.9% · BRC Asia +1.5%"
    ],
    [
     "8",
     "22 Jul 2024",
     "−46.7%",
     "−0.3%",
     "−1.7%",
     "−45.1%",
     "Residual",
     "Against an index move of −0.3% and a peer median of −1.7%, about 45 points are left over; 10,000 shares, 0.3× median volume, taking the close from 0.184 to 0.098. No filing beyond routine notices in the prior three sessions. ISOTeam −1.7% · OKP −1.5% · BRC Asia −1.7%"
    ],
    [
     "9",
     "26 Jul 2024",
     "−46.7%",
     "−0.6%",
     "−4.5%",
     "−42.3%",
     "Residual",
     "The week to 26 Jul 2024 took the close from 0.184 to 0.098, −46.7% against an index move of −0.6% and a peer median of −4.5%, leaving about 42 points. The week included no filing beyond routine notices. It records the same session as row 8. ISOTeam +0.0% · OKP −4.5% · BRC Asia −4.6%"
    ],
    [
     "10",
     "20 Sep 2024",
     "+68.4%",
     "−0.2%",
     "+0.0%",
     "+68.4%",
     "Residual",
     "Against an index move of −0.2% and a peer median of +0.0%, about 68 points are left over; 100 shares, 0.0× median volume, taking the close from 0.098 to 0.165. No filing beyond routine notices in the prior three sessions. A 100-share print sets the close without repricing the company. ISOTeam +3.4% · OKP −2.8% · BRC Asia +0.0%"
    ],
    [
     "11",
     "3 Oct 2024",
     "−42.7%",
     "−0.2%",
     "+0.0%",
     "−42.7%",
     "Residual",
     "Against an index move of −0.2% and a peer median of +0.0%, about 43 points are left over; 200 shares, 0.0× median volume, taking the close from 0.178 to 0.102. No filing beyond routine notices in the prior three sessions. ISOTeam +1.7% · OKP −1.4% · BRC Asia +0.0%"
    ],
    [
     "12",
     "4 Oct 2024",
     "−42.7%",
     "+0.4%",
     "+0.0%",
     "−42.7%",
     "Residual",
     "The week to 4 Oct 2024 took the close from 0.178 to 0.102, −42.7% against an index move of +0.4% and a peer median of +0.0%, leaving about 43 points. The week included no filing beyond routine notices. It records the same 200-share print as row 11. ISOTeam +0.0% · OKP −4.2% · BRC Asia +1.3%"
    ],
    [
     "13",
     "2 Jan 2025",
     "−14.3%",
     "+0.3%",
     "−1.5%",
     "−12.8%",
     "Residual",
     "The first session of 2025 fell 14.3% from 0.21 to 0.18 on 900 shares, 0.0× median volume, against an index up 0.3% and a peer median down 1.5%, leaving about 13 points. It is the first session after the company announced, on 31 December 2024, that JTC had extended the lease of its Sungei Kadut premises from 28 February to 31 December 2025. The order of filing and session is established only to the day, and a 900-share close carries little information either way. ISOTeam −1.7% · OKP −1.5% · BRC Asia +2.0%"
    ],
    [
     "14",
     "7 Jan 2025",
     "+13.9%",
     "+0.2%",
     "+0.4%",
     "+13.5%",
     "Residual",
     "Against an index move of +0.2% and a peer median of +0.4%, about 13 points are left over; 100 shares, 0.0× median volume, taking the close from 0.18 to 0.205. No filing beyond routine notices in the prior three sessions. A 100-share print sets the close without repricing the company. ISOTeam +1.8% · OKP +0.0% · BRC Asia +0.4%"
    ],
    [
     "15",
     "20 Jan 2025",
     "−56.1%",
     "−0.1%",
     "+0.4%",
     "−56.5%",
     "Residual",
     "Against an index move of −0.1% and a peer median of +0.4%, about 56 points are left over; 2,000 shares, 0.1× median volume, taking the close from 0.205 to 0.09. No filing beyond routine notices in the prior three sessions. ISOTeam +0.0% · OKP +3.0% · BRC Asia +0.4%"
    ],
    [
     "16",
     "24 Jan 2025",
     "−56.1%",
     "−0.2%",
     "+1.5%",
     "−57.6%",
     "Residual",
     "The week to 24 Jan 2025 took the close from 0.205 to 0.09, −56.1% against an index move of −0.2% and a peer median of +1.5%, leaving about 58 points. The week included no filing beyond routine notices. It records the same 2,000-share print as row 15. ISOTeam +0.0% · OKP +1.5% · BRC Asia +7.4%"
    ],
    [
     "17",
     "20 Mar 2025",
     "−26.5%",
     "+0.6%",
     "+0.0%",
     "−26.5%",
     "Residual",
     "The session after the company announced the receipt of a statement of claim seeking 5% of its operating subsidiary’s enlarged share capital, or damages in the alternative: the close fell 26.5% from 0.102 to 0.075 on 52,100 shares, 1.3× median volume. The index rose 0.6% and the peer median did not move, so about 26 points are left over. The claim was discontinued on 1 July 2025. ISOTeam +0.0% · OKP +0.0% · BRC Asia −0.3%"
    ],
    [
     "18",
     "26 Mar 2025",
     "+40.0%",
     "+0.2%",
     "+0.0%",
     "+40.0%",
     "Residual",
     "Against an index move of +0.2% and a peer median of +0.0%, about 40 points are left over; 1,800 shares, 0.0× median volume, taking the close from 0.075 to 0.105. No filing beyond routine notices in the prior three sessions. ISOTeam +1.3% · OKP +0.0% · BRC Asia +0.0%"
    ],
    [
     "19",
     "9 May 2025",
     "−33.0%",
     "+0.7%",
     "+0.0%",
     "−33.0%",
     "Residual",
     "Against an index move of +0.7% and a peer median of +0.0%, about 33 points are left over; 51,800 shares, 1.3× median volume, taking the close from 0.112 to 0.075. No filing beyond routine notices in the prior three sessions. ISOTeam +0.0% · OKP +0.0% · BRC Asia +0.3%"
    ],
    [
     "20",
     "16 May 2025",
     "+32.0%",
     "+0.1%",
     "−0.3%",
     "+32.3%",
     "Residual",
     "Against an index move of +0.1% and a peer median of −0.3%, about 32 points are left over; 19,700 shares, 0.5× median volume, taking the close from 0.075 to 0.099. No filing beyond routine notices in the prior three sessions. ISOTeam +0.0% · OKP −2.2% · BRC Asia −0.3%"
    ],
    [
     "21",
     "16 Jun 2025",
     "+39.7%",
     "−0.1%",
     "+0.0%",
     "+39.7%",
     "Residual",
     "Against an index move of −0.1% and a peer median of +0.0%, about 40 points are left over; 24,300 shares, 0.6× median volume, taking the close from 0.068 to 0.095. No filing beyond routine notices in the prior three sessions. ISOTeam +1.4% · OKP −1.2% · BRC Asia +0.0%"
    ],
    [
     "22",
     "26 Jun 2025",
     "−33.7%",
     "+0.3%",
     "+0.3%",
     "−34.0%",
     "Residual",
     "Against an index move of +0.3% and a peer median of +0.3%, about 34 points are left over; 34,900 shares, 0.9× median volume, taking the close from 0.095 to 0.063. No filing beyond routine notices in the prior three sessions. ISOTeam +2.8% · OKP +0.0% · BRC Asia +0.3%"
    ],
    [
     "23",
     "15 Sep 2025",
     "+16.5%",
     "−0.1%",
     "+0.5%",
     "+16.0%",
     "Residual",
     "Against an index move of −0.1% and a peer median of +0.5%, about 16 points are left over; 2,800 shares, 0.1× median volume, taking the close from 0.085 to 0.099. No filing beyond routine notices in the prior three sessions. The FY2025 results had been filed on 29 August 2025, twelve sessions earlier. ISOTeam +1.1% · OKP +1.8% · BRC Asia −0.2% · Lum Chang Creations −1.7%"
    ],
    [
     "24",
     "28 Oct 2025",
     "+21.0%",
     "+0.2%",
     "−2.0%",
     "+23.0%",
     "Residual",
     "Up 21.0% from 0.10 to 0.121 on 98,800 shares, 2.4× median volume, against an index up 0.2% and a peer median down 2.0% — about 23 points left over. Nothing beyond the annual report, the AGM paperwork and the AGM-day dividend notice had been filed; the record order book and the change of chief executive came three weeks later. It is the first of the sessions that took the close from 0.106 at the end of September 2025 to 0.21 at the end of November. ISOTeam −2.4% · OKP −2.0% · BRC Asia −0.7% · Lum Chang Creations −2.0%"
    ],
    [
     "25",
     "6 Nov 2025",
     "+12.9%",
     "+1.5%",
     "+0.0%",
     "+12.9%",
     "Residual",
     "Against an index move of +1.5% and a peer median of +0.0%, about 13 points are left over; 45,500 shares, 1.1× median volume, taking the close from 0.14 to 0.158. No filing beyond routine notices in the prior three sessions. ISOTeam +0.0% · OKP +0.0% · BRC Asia −0.7% · Lum Chang Creations +0.0%"
    ],
    [
     "26",
     "12 Nov 2025",
     "+22.0%",
     "+0.6%",
     "+0.4%",
     "+21.7%",
     "Residual",
     "646,000 shares and 16.0× median volume, the heaviest session of the window to that date, taking the close up 22.0% from 0.168 to 0.205 against an index up 0.6% and a peer median up 0.4%, leaving about 22 points. No filing beyond routine notices in the prior three sessions; the S$61.0 million of new contracts, the record S$113.0 million order book and the appointment of a new chief executive were announced five sessions later, on 17 November 2025. ISOTeam +0.0% · OKP +1.0% · BRC Asia +0.7% · Lum Chang Creations −1.1%"
    ],
    [
     "27",
     "19 Jan 2026",
     "+13.2%",
     "−0.3%",
     "+0.1%",
     "+13.0%",
     "Residual",
     "Against an index move of −0.3% and a peer median of +0.1%, about 13 points are left over; 309,600 shares, 7.6× median volume, taking the close from 0.19 to 0.215. The filings in the preceding week were the placement use-of-proceeds statement of 8 January 2026 and substantial-shareholder interest notices; the tape carries no other material filing in the prior three sessions. ISOTeam −1.2% · OKP +0.0% · BRC Asia +0.2% · Lum Chang Creations +3.2%"
    ],
    [
     "28",
     "27 Jan 2026",
     "+20.9%",
     "+1.3%",
     "−1.1%",
     "+22.0%",
     "Residual",
     "Against an index move of +1.3% and a peer median of −1.1%, about 22 points are left over; 100 shares, 0.0× median volume, taking the close from 0.215 to 0.26. No filing beyond routine notices in the prior three sessions. A 100-share print sets the close without repricing the company. ISOTeam −2.3% · OKP −0.7% · BRC Asia +0.0% · Lum Chang Creations −1.4%"
    ],
    [
     "29",
     "13 Feb 2026",
     "+16.0%",
     "−1.6%",
     "+1.7%",
     "+14.3%",
     "Residual",
     "The session on which the 6M2026 results and the interim dividend were filed: up 16.0% from 0.25 to 0.29 on 1,634,200 shares, 40.4× median volume, against an index down 1.6% and a peer median up 1.7%, leaving about 14 points. The SGXNet broadcast times of the two filings could not be established for this build, so whether the session traded before or after them is not established. The results reported revenue up 58.2% to S$53.3 million, profit attributable to owners up 438.5% to S$3.9 million and a record S$117.2 million order book. ISOTeam +5.7% · OKP −2.9% · BRC Asia +0.2% · Lum Chang Creations +3.1%"
    ],
    [
     "30",
     "16 Feb 2026",
     "+19.0%",
     "+0.0%",
     "+0.3%",
     "+18.7%",
     "Residual",
     "The first session after the 6M2026 results: up 19.0% from 0.29 to 0.345 on 2,619,500 shares, 64.7× median volume and the heaviest session of the window, against a flat index and a peer median up 0.3%, leaving about 19 points. Over the two sessions of 13 and 16 February the close rose from 0.25 to 0.345 on more than 4.2 million shares. ISOTeam −2.2% · OKP −1.2% · BRC Asia +3.2% · Lum Chang Creations +1.8%"
    ],
    [
     "31",
     "13 May 2026",
     "+12.9%",
     "+1.2%",
     "+1.0%",
     "+11.9%",
     "Residual",
     "Against an index move of +1.2% and a peer median of +1.0%, about 12 points are left over; 155,000 shares, 3.8× median volume, taking the close from 0.31 to 0.35. No filing beyond routine notices in the prior three sessions. The only filing in the preceding week was a director's interest notice. ISOTeam +0.0% · OKP +0.0% · BRC Asia +2.0% · Lum Chang Creations +1.9%"
    ],
    [
     "32",
     "9 Jun 2026",
     "+15.5%",
     "+1.2%",
     "+0.2%",
     "+15.3%",
     "Residual",
     "Up 15.5% from 0.29 to 0.335 on 191,800 shares, 4.7× median volume, against an index up 1.2% and a peer median up 0.2%, leaving about 15 points. No filing beyond routine notices in the prior three sessions; the S$16.8 million of third-quarter contracts and the S$107.0 million order book had been announced seven sessions earlier, on 29 May 2026. The following session gave back 10.4% (row 33). ISOTeam +4.0% · OKP −0.6% · BRC Asia +0.5% · Lum Chang Creations +0.0%"
    ],
    [
     "33",
     "10 Jun 2026",
     "−10.4%",
     "−1.3%",
     "+0.3%",
     "−10.8%",
     "Residual",
     "Against an index move of −1.3% and a peer median of +0.3%, about 11 points are left over; 67,000 shares, 1.7× median volume, taking the close from 0.335 to 0.3. No filing beyond routine notices in the prior three sessions. It gives back most of the previous session's rise (row 32). ISOTeam +0.0% · OKP −1.3% · BRC Asia +0.7% · Lum Chang Creations +1.9%"
    ]
   ]
  }
 ]
}