Resources Global Development Limited reported net profit of S$22.84 million for the year ended 31 Dec 2025, down 12.5 % year-on-year, as higher coal-mining volumes were offset by a sharp contraction in shipping margins.
Revenue rose 50.0 % to S$119.86 million, lifting basic earnings per share to 2.49 Singapore cents from 2.17 cents a year earlier. The board has proposed a final cash dividend of 0.44 Singapore cents a share—below the prior year’s 0.72 Singapore-cent payout—subject to shareholder approval at the April 2026 AGM; the payment date will be announced later.
By segment, Shipping Services remained the largest contributor with S$60.40 million in revenue (-1.7 % YoY) and S$18.52 million in pre-tax profit (-32.7 %). Coal Mining revenue surged to S$58.11 million (up 240 %) as production from the TRIOP mine expanded to roughly 1.1 million tonnes; pre-tax profit rose 65.3 % to S$5.79 million. Construction Services generated S$1.35 million of sales and a pre-tax loss of S$0.18 million. Overall gross profit held steady at S$37.61 million, but the Group margin narrowed to 31.4 % from 46.9 % on softer Indonesian freight rates and higher fuel costs.
Operating cash flow came in at S$29.90 million. Capital expenditure totalled S$33.72 million, including S$26.96 million for five new tug-and-barge sets that lifted fleet capacity 14.5 % to 316,000 dead-weight tonnes and S$6.72 million for mine development. The Group also booked a S$4.40 million gain from disposing of a 15 % stake in PT Singaraja Putra Tbk (PT SINI); the remaining 16.22 % interest has been reclassified as a financial asset, contributing an S$86.55 million fair-value gain to other comprehensive income.
Shipping operations faced headwinds from subdued freight rates, congestion-linked delays and higher bunker costs, pressuring margins. Coal Mining profitability was tempered by lower benchmark coal prices and initial operating adjustments at the recently commissioned TRIOP pit. The Group also absorbed higher staff and finance costs and recorded foreign-exchange losses stemming from a weaker Indonesian rupiah.
During the year the company completed the acquisition of Draco Investment Holdings for US$1 million, adding indirect stakes in four Indonesian coal mines, and continued fleet expansion to strengthen logistics capabilities. Management intends to leverage the enlarged fleet to diversify cargo beyond coal and explore new shipping routes, while focusing on operational efficiency at its greenfield TRIOP mine and recently acquired mining interests. The Group noted that tighter Indonesian coal-production quotas and a stable Southeast Asian demand outlook should underpin market conditions in 2026.