MYP Ltd. — Earnings Release 2026

May 29, 2026

MYP LTD.

(Company Registration Number: 200509721C)

UNAUDITED FULL YEAR FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

PART I – INFORMATION REQUIRED FOR ANNOUNCEMENTS OF FULL YEAR RESULTS

1(a) An income statement and a statement of other comprehensive income, for the group, together with a comparative statement for the corresponding period of the immediately preceding financial year.

Group

	2H FY2026	2H FY2025	Change	Full Year FY2026	Full Year FY2025	Change
	$'000	$'000	%	$'000	$'000	%
Revenue	9,460	9,109	3.9	18,805	18,289	2.8
Other income (i)	3	2	50.0	8	7	14.3
Loss on disposal of investment property held for sale	-	-	-	-	(50)	(100.0)
Fair value gains from investment properties	2,540	400	>100.0	2,540	400	>100.0
Depreciation expense on plant and equipment	(65)	(23)	>100.0	(99)	(42)	>100.0
Staff costs	(878)	(840)	4.5	(1,642)	(1,565)	4.9
Direct operating expenses of investment properties	(2,274)	(2,097)	8.4	(4,516)	(4,580)	(1.4)
Other expenses	(330)	(227)	45.4	(508)	(589)	(13.8)
Results from operating activities	8,456	6,324	33.7	14,588	11,870	22.9
Finance income	1,243	1,675	(25.8)	2,914	3,355	13.1
Finance costs	(6,357)	(7,958)	(20.1)	(12,654)	(17,054)	(25.8)
Net finance costs (ii)	(5,114)	(6,283)	(18.6)	(9,740)	(13,699)	(28.9)
Profit/(Loss) before taxation	3,342	41	>100.0	4,848	(1,829)	(>100.0)
Taxation (iii)	(260)	(263)	(1.1)	(563)	(599)	(6.0)
Profit/(Loss) for the year	3,082	(222)	(>100.0)	4,285	(2,428)	(>100.0)
Other comprehensive income	-	-	-	-	-	-
Total comprehensive Income/(loss)	3,082	(222)	(>100.0)	4,285	(2,428)	(>100.0)
Profit/(Loss) for the year attributable to:
Equity holders of the Company	3,082	(222)	(>100.0)	4,285	(2,428)	(>100.0)
	3,082	(222)	(>100.0)	4,285	(2,428)	(>100.0)

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2

MYP LTD.

(Company Registration Number: 200509721C)

Group

	2H FY2026	2H FY2025	Change	Full Year FY2026	Full Year FY2025	Change
	$'000	$'000	%	$'000	$'000	%
Total comprehensive income/(loss)
Equity holders of the Company	3,082	(222)	(>100.0)	4,285	(2,428)	(>100.0)
	3,082	(222)	(>100.0)	4,285	(2,428)	(>100.0)
Earnings/(Loss) per share, cents
Basic	0.19	(0.01)		0.27	(0.15)
Diluted	0.19	(0.01)		0.27	(0.15)

FY: Financial year ended 31 March
1H: 1st half financial period ended 30 September
2H: 2nd half financial period ended 31 March
nm: not meaningful

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MYP LTD.

(Company Registration Number: 200509721C)

Note (i) Other income

	2H FY2026	2H FY2025	Full Year FY2026	Full Year FY2025
	$'000	$'000	$'000	$'000
Wage Credit Scheme pay-out	1	-	4	2
Other employment credit pay-out	-	2	2	5
Government-paid leave	2	-	2	-
	3	2	8	7

Note (ii) Net finance costs

	2H FY2026	2H FY2025	Full Year FY2026	Full Year FY2025
	$'000	$'000	$'000	$'000
Finance income
Interest income on deposits with banks	1,243	1,675	2,914	3,355
Finance costs
Interest expense on bank borrowings – secured	(5,390)	(7,672)	(11,401)	(16,482)
Amortisation of transaction costs related to bank borrowings	(967)	(286)	(1,253)	(572)
	(6,357)	(7,958)	(12,654)	(17,054)
Net finance costs	(5,114)	(6,283)	(9,740)	(13,699)

Note (iii) Taxation

The income tax expense on the results of the Group for the financial year varies from the amount of income tax determined by applying the Singapore standard rate of income tax to loss before taxation, due to the following factors:

	2H FY2026	2H FY2025	Full Year FY2026	Full Year FY2025
Income tax recognised in profit or loss	$'000	$'000	$'000	$'000
Income tax expenses/(credits)
- current year	254	329	595	665
- prior year	6	(66)	(32)	(66)
	260	263	563	599
Reconciliation of effective tax:
Profit/(Loss) for the year	3,082	(222)	4,285	(2,428)
Total income tax expenses	260	263	563	599
Profit/(Loss) before taxation	3,342	41	4,848	(1,829)
Tax using the Singapore tax rate of 17% (2025: 17%)	568	7	824	(311)
Singapore statutory stepped income exemption	(10)	(7)	(36)	(12)
Non-deductible expenses	537	404	698	958
Non-taxable income	(950)	(397)	(1,258)	(623)
Utilisation of unrecognised deferred tax asset	(138)	-	(211)	-
Withholding tax	247	322	578	653
Under/(over) provision in prior year	6	(66)	(32)	(66)
	260	263	563	599

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MYP LTD.

(Company Registration Number: 200509721C)

1(b) Statements of financial position (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.

	Group		Company
	31.03.2026	31.03.2025	31.03.2026	31.03.2025
	$'000	$'000	$'000	$'000
Non-current assets
Plant and equipment	430	167	1	1
Other assets	4,497	4,497	-	-
Investments in subsidiaries	-	-	310,320	308,316
Investment properties	562,740	560,200	-	-
	567,667	564,864	310,321	308,317
Current assets
Trade and other receivables	1,475	2,338	31	205
Cash and cash equivalents	134,103	90,474	148	283
	135,578	92,812	179	488
Total assets	703,245	657,676	310,500	308,805
Equity
Share capital	255,318	255,318	262,106	262,106
Other reserves	46,677	46,677	(456)	(456)
Accumulated losses	(20,660)	(24,945)	(36,842)	(38,327)
Total equity	281,335	277,050	224,808	223,323
Non-current liabilities
Other payables	1,031	797	-	-
Bank borrowings – secured	385,376	324,013	-	-
	386,407	324,810	-	-
Current liabilities
Trade and other payables	3,208	3,281	78,350	58,138
Amount owing to a shareholder	32,250	52,495	7,337	27,340
Current tax liabilities	45	40	5	4
	35,503	55,816	85,692	85,482
Total liabilities	421,910	380,626	85,692	85,482
Total equity and liabilities	703,245	657,676	310,500	308,805

1(c) Aggregate amount of the group's borrowings and debt securities.

Amount repayable in one year or less, or on demand

As at 31.03.2026		As at 31.03.2025
Secured	Unsecured	Secured	Unsecured
$	$	$	$
-	32,250,000	-	52,495,000

Amount repayable after one year

As at 31.03.2026		As at 31.03.2025
Secured	Unsecured	Secured	Unsecured
$	$	$	$
385,376,000	-	324,013,000	-

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5

MYP LTD.

(Company Registration Number: 200509721C)

Details of any collateral: The secured bank loans of the Group are secured over investment properties with carrying amount of $553,000,000 (31.03.2025: of $551,000,000).

1(d) A statement of cash flows (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.

Group

	Note	Full Year FY2026	Full Year FY2025
		$'000	$'000
Cash flows from operating activities
Profit/(Loss) for the year		4,285	(2,428)
Adjustments for:
Finance income		(2,914)	(3,355)
Finance costs		12,654	17,054
Loss on disposal of investment property held for sale		-	50
Depreciation expense on plant and equipment		99	42
Fair value gains on investment properties		(2,540)	(400)
Income tax expense		563	599
Operating cash flows before working capital		12,147	11,562
Changes in working capital
Trade and other receivables		863	645
Trade and other payables		494	96
Cash generated from operations		13,504	12,303
Tax paid		(558)	(655)
Net cash generated from operating activities		12,946	11,648
Cash flows from investing activities
Purchase of plant and equipment		(362)	(128)
Proceeds from disposal of investment property		-	5,989
Interest income received		2,914	3,402
Net cash generated from investing activities		2,552	9,263
Cash flows from financing activities
Decrease in amount owing to a shareholder	Note A	(20,245)	(6,205)
Changes in debt service reserve	Note A	1,475	(3,669)
Proceeds from drawdown of bank borrowing		64,000	-
Payment of transaction costs related to bank borrowings		(3,890)	-
Interest paid	Note A	(11,734)	(16,885)
Net cash generated from/(used in) financing activities		29,606	(26,759)
Change in cash and cash equivalents		45,104	(5,848)
Cash and cash equivalents at the beginning of the year		82,384	88,232
Cash and cash equivalents at the end of the year	1	127,488	82,384

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6

MYP LTD.

(Company Registration Number: 200509721C)

Note to consolidated statement of cash flows

(1) For the purpose of the consolidated statement of cash flows, the group's cash and cash equivalents comprise the following:

| | Full Year
FY2026 | Full Year
FY2025 |
| --- | --- | --- |
| | $'000 | $'000 |
| Cash and cash equivalents in the statement of financial position | 134,103 | 90,474 |
| Debt service reserve | (6,615) | (8,090) |
| Cash and cash equivalents in the statement of cash flows | 127,488 | 82,384 |

Debt service reserve represents bank balances maintained for the purpose of a bank loan obtained by a subsidiary.

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7

MYP LTD.

(Company Registration Number: 200509721C)

Note A:

The table below details changes in the Group's liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group's consolidated statement of cash flows as cash flows from financing activities.

	Debt service reserve	Secured bank loan	Interest payable to banks	Amount owing to a shareholder	Total
	$'000	$'000	$'000	$'000	$'000
At 1 April 2024	(4,421)	323,441	2,022	58,700	379,742
Cash flows:
Decrease in amount owing to a shareholder	-	-	-	(6,205)	(6,205)
Bank borrowings:
- Interest paid	-	-	(16,885)	-	(16,885)
- Changes in debt service reserve	(3,669)	-	-	-	(3,669)
	(3,669)	-	(16,885)	(6,205)	(26,759)
Non-cash changes:
Interest expense	-	-	16,482	-	16,482
Amortised transaction costs	-	572	-	-	572
	-	572	16,482	-	17,054
At 31 March 2025	(8,090)	324,013	1,619	52,495	370,037
	Debt service reserve	Secured bank loan	Interest payable to banks	Amount owing to a shareholder	Total
---	---	---	---	---	---
	$'000	$'000	$'000	$'000	$'000
At 1 April 2025	(8,090)	324,013	1,619	52,495	370,037
Cash flows:
Decrease in amount owing to a shareholder	-	-	-	(20,245)	(20,245)
Bank borrowings:
- Interest paid	-	-	(11,734)	-	(11,734)
- Proceeds from drawdown of bank borrowing	-	64,000	-	-	64,000
- Payment of transaction costs related to bank borrowings	-	(3,890)	-	-	(3,890)
- Changes in debt service reserve	1,475	-	-	-	1,475
	1,475	60,110	(11,734)	(20,245)	29,606
Non-cash changes:
Interest expense	-	-	11,401	-	11,401
Amortised transaction costs	-	1,253	-	-	1,253
	-	1,253	11,401	-	12,654
At 31 March 2026	(6,615)	385,376	1,286	32,250	412,297

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8

MYP LTD.

(Company Registration Number: 200509721C)

1(e) Statements (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year.

Group

Consolidated Statement of Changes in Equity for the Financial Year Ended 31 March 2026

	Share capital	Capital reserve	Retained earnings	Total equity
	$'000	$'000	$'000	$'000
At 1 April 2024	255,318	46,677	(22,517)	279,478
Loss for the year, representing total comprehensive loss for the year	-	-	(2,428)	(2,428)
At 31 March 2025	255,318	46,677	(24,945)	277,050
At 1 April 2025	255,318	46,677	(24,945)	277,050
Profit for the year, representing total comprehensive income for the year	-	-	4,285	4,285
At 31 March 2026	255,318	46,677	(20,660)	281,335

Company

Statement of Changes in Equity for the Financial Year Ended 31 March 2026

	Share capital	Capital reserve	Retained earnings	Total equity
	$'000	$'000	$'000	$'000
At 1 April 2024	262,106	(456)	(33,239)	228,411
Loss for the year, representing total comprehensive loss for the year	-	-	(5,088)	(5,088)
At 31 March 2025	262,106	(456)	(38,327)	223,323
At 1 April 2025	262,106	(456)	(38,327)	223,323
Profit for the year, representing total comprehensive income for the year	-	-	1,485	1,485
At 31 March 2026	262,106	(456)	(36,842)	224,808

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MYP LTD.

(Company Registration Number: 200509721C)

1(f) Details of any changes in the company's share capital arising from rights issue, bonus issue, share buy-backs, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares for cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding convertibles, as well as the number of shares held as treasury shares, if any, against the total number of issued shares excluding treasury shares of the issuer, as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year.

| | Full Year
FY2026 | Full Year
FY2025 |
| --- | --- | --- |
| | '000 | '000 |
| Ordinary shares in issue: | | |
| At beginning and end of the financial year | 1,592,469 | 1,592,469 |

1(g) To show the total number of issued shares excluding treasury shares as at the end of the current financial period and as at the end of the immediately preceding year.

	As at 31.03.2026	As at 31.03.2025
Total number of issued shares (excluding treasury shares)
At beginning and end of year	1,592,469,212	1,592,469,212

There were no shares held as treasury shares as at 31 March 2026 and 31 March 2025.

1(h) A statement showing all sales, transfers, disposal, cancellation and/or use of treasury shares as at the end of the current financial period reported on.

Not applicable.

1. Whether the figures have been audited or reviewed, and in accordance with which auditing standard or practice.

The figures have not been audited nor reviewed by the Company's auditors.

1. Where the figures have been audited or reviewed, the auditors' report (including any qualifications or emphasis of a matter).

Not applicable.

1. Whether the same accounting policies and methods of computation as in the issuer's most recently audited annual financial statements have been applied.

Except as disclosed in item 5 below, the Group has applied the same accounting policies and methods of computation in the financial statements of the current financial reporting period as in the audited financial statements for the financial year ended 31 March 2025.

1. If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of, the change.

With effect from 1 April 2025, the Group has adopted various new / revised Singapore Financial Reporting Standards (International) (SFRS(I)s) which are relevant to the Group's operations.

The adoption of these new standards and amendments has no significant effect on the consolidated financial statements of the Group.

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MYP LTD.

(Company Registration Number: 200509721C)

1. Earnings per ordinary share of the group for the current financial period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends.

Basic and diluted earnings per share was based on profit attributable to ordinary shareholders, and a weighted average number of ordinary shares outstanding, calculated as follows:

	2H FY2026	2H FY2025	Full Year FY2026	Full Year FY2025
	S$’000	S$’000	S$’000	S$’000
Profit/(Loss) for the year attributable to: Equity holders of the Company	3,082	(222)	4,285	(2,428)

Weighted average number of ordinary shares and earnings per share:-

	2H FY2026	2H FY2025	Full Year FY2026	Full Year FY2025
Weighted average number of ordinary shares during the year ('000)	1,592,469	1,592,469	1,592,469	1,592,469
Basic earnings/(loss) per share (cents)	0.19	(0.01)	0.27	(0.15)
Diluted earnings/(loss) per share (cents)	0.19	(0.01)	0.27	(0.15)

1. Net asset value (for the issuer and group) per ordinary share based on the total number of issued shares excluding treasury shares of the issuer at the end of the:-

(a) current financial period reported on; and
(b) immediately preceding financial year

	Group		Company
	As at 31.03.2026	As at 31.03.2025	As at 31.03.2026	As at 31.03.2025
	Cents	Cents	Cents	Cents
Net asset value per ordinary share based on issued share capital as at the end of the year reported on	17.7	17.4	14.1	14.0

8 A review of the performance of the group, to the extent necessary for a reasonable understanding of the group's business.

REVENUE

The Group's revenue comprised mainly rental and service income generated from its investment properties, as well as other supplemental and ad-hoc income.

2HFY2026 and Full Year FY2026 vs 2HFY2025 and Full Year FY2025

The Group's revenue for 2HFY2026 and full year FY2026 grew by 3.9%, from S$9.1 million to S$9.5 million, and 2.8% from $18.3 million to $18.8 million respectively. This was primarily due to income from new tenancy agreements, as well as increases in other supplemental and ad-hoc income. Ad-hoc income includes non-recurring reinstatement fees for services provided to outgoing tenants and additional property tax charges billed to tenants, partly offset by the loss of rental income arising from the non-renewal of certain tenancy agreements and lower electricity income.

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MYP LTD.

(Company Registration Number: 200509721C)

OTHER INCOME

2HFY2026 and Full Year FY2026 vs 2HFY2025 and Full Year FY2025

The increase in other income was mainly due to higher employment-related credit payouts and government-paid leave reimbursements received.

FY2025 LOSS ON DISPOSAL OF INVESTMENT PROPERTY

The loss on disposal of S$0.05 million in FY2025 arose from the disposal of a residential unit owned by a subsidiary company. The transaction was completed on 5 July 2024. Refer to the Company's prior announcements to the SGX-ST dated 9 April 2024 and 5 July 2024. In FY2026, there was no disposal of investment property.

FAIR VALUE GAINS FROM INVESTMENT PROPERTIES

2HFY2026 and Full Year FY2026 vs 2HFY2025 and Full Year FY2025

As at the reporting date of 31 March 2026, the Group revalued its investment properties measured at fair value. The fair value of the investment properties as at 31 March 2026 increased by S$2.5 million (FY2025: S$0.4 million) compared to the previous financial year. The amount representing the fair value gain on revaluation has been recognised in the profit or loss statement.

EXPENSES

	2H FY2026	2H FY2025	Change	Full Year FY2026	Full Year FY2025	Change
	$'000	$'000	%	$'000	$'000	%
Depreciation	65	23	>100.0	99	42	>100.0
Staff costs	878	840	4.5	1,642	1,565	4.9
Direct operating expenses of investment properties	2,274	2,097	8.4	4,516	4,580	(1.4)
Other expenses	330	227	45.4	508	589	(13.8)
Net finance costs	5,114	6,283	(18.6)	9,740	13,699	(28.9)
Taxation	260	263	(1.1)	563	599	(6.0)
Total	8,921	9,733	(8.3)	17,068	21,074	(19.0)

2HFY2026 and Full Year FY2026 vs 2HFY2025 and Full Year FY2025

Higher depreciation charges on plant and equipment were due to additions of renovation costs.

2HFY2026 and Full Year FY2026 vs 2HFY2025 and Full Year FY2025

Staff costs comprised mainly gross salaries, CPF contributions, and provision for directors' fees. The increase was mainly due to a higher average number of headcounts, salary increments, and higher employer CPF contributions.

2HFY2026 vs 2HFY2025

Direct operating expenses for 2HFY2026 increased compared with 2HFY2025, mainly due to increases in property tax and higher repair and maintenance costs.

Full Year FY2026 vs Full Year FY2025

Direct operating expenses for the full year FY2026 decreased compared with FY2025, mainly due to lower utility costs, partly offset by increases in property tax and higher repair and maintenance costs.

2HFY2026 vs 2HFY2025

Other expenses comprise expenses other than depreciation, staff costs, and direct operating expenses of investment properties. These expenses mainly consist of audit and tax agent fees, corporate secretarial fees, legal and professional fees, and administrative expenses. The increase in other expenses in 2HFY2026 was mainly due to non-recurring reinstatement costs incurred for a certain outgoing tenant, partly offset by the absence of a provision for bad debts.

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MYP LTD.
(Company Registration Number: 200509721C)

Full Year FY2026 vs Full Year FY2025

Other expenses comprise expenses other than depreciation, staff costs, and direct operating expenses of investment properties. These expenses mainly consist of audit and tax agent fees, corporate secretarial fees, legal and professional fees, and administrative expenses. In FY2025, professional fees were incurred in relation to the disposal of an investment property as well as allowances for bad debts on certain tenancy agreements. These expenses were non-recurring in nature. In FY2026, no such expenses were incurred.

2HFY2026 and Full Year FY2026 vs 2HFY2025 and Full Year FY2025

Net finance costs for 2HFY2026 and full year FY2026 decreased by 18.6% and 28.9%, respectively, compared to the previous year, mainly due to lower interest rates.

2HFY2026 vs 2HFY2025

In 2HFY2026, the income tax expense for the current period comprised mainly withholding tax expense and provision for income tax. Overall, there was no significant change in total tax expense.

In 2HFY2025, a tax credit was recognised, representing a tax refund arising from an overprovision in the prior year. In contrast, in the corresponding period of 2HFY2026, there was an under-provision of income tax.

Full Year FY2026 vs Full Year FY2025

For the full year FY2026, the decrease in total tax expense was mainly due to lower withholding tax expense, partially offset by a lower tax credit arising from the prior year.

The effective income tax rate is lower than the statutory tax rate mainly because the current year's tax expense was offset by higher non-taxable income, arising mainly from fair value gains on the revaluation of investment properties and the utilisation of previously unrecognised deferred tax assets. The tax credit represents an overprovision of income tax in the prior year.

RESULTS FROM OPERATING ACTIVITIES

In 2HFY2026 and full year FY2026, the Group's operating profit increased by 33.7% and 22.9%, respectively. The reasons are set out in the preceding paragraphs.

PROFIT/(LOSS) FOR THE YEAR

In 2HFY2026 and full year FY2026, the Group registered a net profit of $3.1 million and $4.3 million, respectively, compared to a net loss of $0.2 million and $2.4 million in 2HFY2025 and FY2025, respectively. The reasons are set out in the preceding paragraphs.

GROUP'S STATEMENT OF FINANCIAL POSITION

Plant and equipment increased mainly due to office renovations and renewal of COE for a motor vehicle, offset by depreciation charges for the year.

Other assets consist of art pieces, which are carried at cost upon initial recognition and are reviewed annually for impairment. As at the reporting date of 31 March 2026, the net carrying amount of these other assets remained unchanged compared with 31 March 2025.

Investment properties are initially measured at cost and subsequently carried at fair value, determined annually by an independent professional valuer. Based on the valuer's report, the fair value of the investment properties as at 31 March 2026 increased by S$2.5 million (31 March 2025: fair value gain of S$0.4 million), representing fair value gains on revaluation, which have been recognised in profit or loss.

Trade and other receivables as at 31 March 2026 decreased compared with 31 March 2025, mainly due to a decrease in accrued revenue, partly offset by higher prepaid operating expenses and an increase in net trade receivables.

As at 31 March 2026, there was no change in share capital compared with 31 March 2025.

Other reserves of the Group and Company comprise the following:

	Group		Company
	31.03.2026	31.03.2025	31.03.2026	31.03.2025
	$'000	$'000	$'000	$'000
Capital reserves	46,677	46,677	(456)	(456)

The decrease in accumulated losses was due to the net profit recorded in FY2026.

12

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13

MYP LTD.

(Company Registration Number: 200509721C)

Non-current other payables comprise security deposits collected from tenants, which are refundable after one year from 31 March 2026. The increase was due to deposits collected from new tenants and the renewal of certain existing occupancy agreements (with lease terms of more than 12 months), which were reclassified from current to non-current liabilities.

Bank borrowings as at 31 March 2026 comprised the following:

	Group
	31.03.2026	31.03.2025
Non-current	$'000	$'000
Secured bank loans	389,000	325,000
Unamortised transaction costs	(3,624)	(987)
	385,376	324,013

In FY2026, the Group renewed its bank loan of $325.0 million for a further five years and obtained an additional $64.0 million loan with the same five-year tenure for working capital purposes. Transaction costs represent upfront fees paid to the lender upon drawdown of the bank loans. The increase was due to the renewal of the existing loan and the new loan, offset by the amortisation of fees during the year.

Trade and other payables of the Group decreased mainly due to security deposits from certain occupancy agreements being reclassified from current to non-current liabilities and lower loan interest payable, partly offset by a higher amount of accrued operating expenses and an increase in GST payable.

Amount owing to a shareholder is unsecured, non-interest-bearing, and has no fixed repayment terms. The decrease was mainly due to partial repayments made by the Group in FY2026.

The increase in current tax liabilities was due to a higher provision for current-year income tax for FY2026, offset by income tax paid during the year.

As at 31 March 2026, the Group had a positive working capital of approximately $100.0 million (31 March 2025: $37.0 million).

COMPANY'S STATEMENT OF FINANCIAL POSITION

Except for depreciation charges, there was no significant change in the plant and equipment of the Company compared with the previous year.

In FY2025, the Company recognised impairment losses of S$4.4 million (2024: S$9.1 million) on its investment in a subsidiary, representing the shortfall between the recoverable amount and cost. As at 31 March 2025, the recoverable amount had decreased by S$4.4 million, and this was recognised as an impairment loss in the profit or loss statement for FY2025. The recognition of the impairment loss has no impact on the Group's financial results or financial position.

In FY2026, there was a partial reversal of impairment losses recognised in FY2025 amounting to S$2.0 million, representing an increase in the recoverable amount above the cost of investment. As at 31 March 2026, the reversal of S$2.0 million was recognised as other income in the profit or loss statement for FY2026. The recognition of such reversal has no impact on the Group's results or financial position.

The decrease in trade and other receivables was mainly due to a lower amount owing from a subsidiary.

The decrease in cash and cash equivalents was mainly due to payments made to suppliers during the current year, offset by loans from subsidiaries.

As at 31 March 2026, share capital remained unchanged compared with the previous financial year.

As at 31 March 2026, other reserves, representing capital reserves, remained unchanged compared with the previous financial year.

Accumulated losses decreased due to the net profit recorded by the Company in FY2026.

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MYP LTD.
(Company Registration Number: 200509721C)

Trade and other payables comprised mainly amounts owing to subsidiaries of $78.0 million (31 March 2025: $57.7 million) and accrued operating expenses of $0.3 million (31 March 2025: $0.4 million). The increase was mainly due to an increase in amounts owing to subsidiaries and higher accrued operating expenses, offset by payments of trade payables during the current year. Amounts owing to subsidiaries are non-trade in nature, non-interest bearing, and have no fixed repayment terms. On a consolidated group level, the amounts owing to subsidiaries of $78.0 million in the Company's accounts have been fully eliminated against the amount due from the immediate holding company of $78.0 million in the respective subsidiaries' accounts.

Amount owing to a shareholder mainly comprises payments made on behalf of the Group. This amount is unsecured, non-interest-bearing, and has no fixed repayment terms. The decrease was due to partial repayments made on behalf of the Company by a subsidiary during FY2026.

GROUP'S STATEMENT OF CASH FLOWS

Full Year FY2026 vs Full Year FY2025

Change in cash and cash equivalents in FY2026 represents a net cash inflow of $45.1 million, mainly due to the following factors:

• Net cash generated from operating activities mainly comprised rental income, lower net finance costs, changes in working capital, and tax paid;
• The decrease in net cash generated from investing activities was mainly due to non-recurring proceeds from the disposal of an investment property in FY2025, lower interest income received, offset by higher purchase of plant and equipment.
• Net cash generated from financing activities increased mainly due to drawdown of bank borrowing, changes in the debt service reserve amount, lower interest paid, offset payment of transaction costs related to bank borrowings and higher partial repayments of amounts owing to a shareholder.

9 Where a forecast, or a prospect statement, had been previously disclosed to shareholders, any variance between it and the actual results.

The Group did not make any forecasts or prospect statements to shareholders.

10 A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.

The Group is closely monitoring external factors that may impact its performance, such as the office rental market and bank interest rates.

The Group continues to explore strategic investments in value-accretive assets with the potential to generate attractive returns.

11 Dividends

(a) Current Financial Period Reported On

Any dividend declared for the current financial period reported on? No.

(b) Corresponding Period of the Immediately Preceding Financial Year

Any dividend declared for the corresponding period of the immediately preceding financial year? None.

(c) Tax on dividend

Whether the dividend is before tax, net of tax or tax exempt? Not applicable.

(d) Date payable

Not applicable.

(e) Books closure date

Not applicable.

14

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15

MYP LTD.

(Company Registration Number: 200509721C)

12 If no dividend has been declared (recommended), a statement to that effect.

Having considered interest costs and the Group's investment strategy of keeping a strong balance sheet with sufficient resources for future investment purposes for long-term and sustainable growth, the Board is not recommending any dividend for this financial year ended 31 March 2026.

13 Interested person transactions (IPT)

The Group has not obtained a general mandate from shareholders for IPTs.

PART II – ADDITIONAL INFORMATION

1. Segmented revenue and results for business or geographical segments (of the group) in the form presented in the issuer's most recently audited annual financial statements, with comparative information for the immediately preceding year.

(a) Operating segments

No segment information by operating segment has been presented as the Group operates only the business of property investment in FY2026.

(b) Geographical segments

No segment information by geographical location has been presented as the Group's activities are primarily carried out in Singapore.

(c) Information about major customers

Rental income of approximately $15.6 million (2025: $15.3 million) is derived from 6 (2025: 5) external tenants.

For the purpose of this disclosure, a major customer is defined as one in which revenue from transactions with a single customer amount to 3 per cent (2025: 3 per cent) or more of the Group's revenue.

(d) Breakdown of revenue and operating profits/(losses)

| | Group | FY2026
$’000 | FY2025
$’000 | Change
% |
| --- | --- | --- | --- | --- |
| (a) | Sales reported for first half year | 9,345 | 9,180 | 1.8 |
| (b) | Operating profit/(loss) after taxation reported for first half year | 1,203 | (2,206) | (>100.0) |
| (c) | Sales reported for second half year | 9,460 | 9,109 | 3.9 |
| (d) | Operating profit/(loss) after taxation reported for second half year | 3,082 | (222) | (>100.0) |

1. In the review of performance, the factors leading to any material changes in contributions to turnover and earnings by the business or geographical segments.

See comments under paragraph 8.

1. A breakdown of the total annual dividend (in dollar value) for the issuer's latest full year and its previous full year

Not applicable.

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16

MYP LTD.
(Company Registration Number: 200509721C)

1. Disclosure of person occupying a managerial position in the issuer or any of its principal subsidiaries who is a relative of a director or chief executive officer or substantial shareholder of the issuer pursuant to Rule 704(13).

Pursuant to Rule 704(13) of the Listing Rules, the Company confirms that there were no persons occupying managerial position in the Company or any of its subsidiaries who is a relative of a director or chief executive officer or substantial shareholder of the Company.

1. Confirmation pursuant to Rule 720(1) of the SGX Listing Rules.

The Company hereby confirms that it has procured undertakings from all its Directors and Executive Officers under Rule 720(1) of the SGX Listing Rules.

BY ORDER OF THE BOARD

Jonathan Tahir
Executive Chairman and CEO
29 May 2026