SINGAPORE--(BUSINESS WIRE)--December 26, 2025--
TechCreate Group Ltd. (NYSE American: TCGL) ("TechCreate" or the "Company"), a technology consultancy and advanced software solutions provider specializing in payment solutions, cybersecurity, and digital services, announced its financial and operational results for the six months ended June 30, 2025.
Recent Operational Highlights
-- Secured a new Real-Time Engine Project in Singapore and Real-Time
Engine enhancement by an existing Brunei customer
-- Secured and fulfilled the QR Soundbox Terminal Business Line work for a
Cambodia bank
-- Completed successful initial public offering ("IPO") and sale of option
shares in October 2025, raising gross proceeds of $11.73 million, prior
to deducting underwriting discounts and other offering expenses.
TechCreate's Class A Ordinary Shares began trading on the NYSE American
on October 2025 under the ticker symbol "TCGL"
First Half 2025 Financial Results
Total Revenues increased 10.4% to S$1.9 million (US $1.5 million) for the six months ended June 30, 2025 compared to S$1.8 million in the same period last year. The increase was primarily due to an increase in Provision of Professional Services stemming from a new Real-Time Engine Project in Singapore and Real-Time Engine enhancement by existing Brunei Customer, an increase in Sale of Hardware Solutions as the Company's Cambodian team successfully started the QR Soundbox Terminal Business Line, and an increase in Provision of Hosting and Supporting Service, offset by a decrease in Sale of Software Licenses and Maintenance Licenses.
Cost of Revenue decreased 22.7% to S$0.6 million (US $0.4 million) for the six months ended June 30, 2025 compared to S$0.7 million in the same period last year. The decrease was primarily due to a decrease in sales of license maintenance for third party software.
Gross Profit Margins increased to 70.5% for the six months ended June 30, 2025 compared to 57.8% in the same period last year. The increase was primarily due to an increase in revenue from provision of professional fees, and a decrease in sales of software licenses and maintenance licenses which lowers external vendor costs.
Total Operating Expenses increased 2.2% to S$1.3 million (US $1.0 million) for the six months ended June 30, 2025 compared to S$1.3 million in the same period last year. The slight increase was primarily due to an increase in general and administrative expenses and selling and distribution expenses offset by a decrease in research and development expenses.
Net Loss was approximately S$20,000 (US $16,000) for the six months ended June 30, 2025 compared to a loss of S$0.4 million in the same period last year, primarily due to the increase in gross profit and gross profit margin.
As of June 30, 2025, cash and cash equivalents were approximately S$1.3 million (US $1.0 million).
Management Commentary
"I am pleased to announce our first half fiscal 2025 results, highlighted by our growth seen in the provision of professional services revenue," said TechCreate CEO Heng Hai Lim. "During this period, we were awarded a handful of notable deals with valued customers, including a new Real-Time Engine project in Singapore, a Real-Time Engine enhancement by an existing Brunei customer, and a new contract to provide QR Terminal to a Cambodia bank. We also continued to lower our focus on the sale of software and maintenance licenses, which are lower margin in nature. The progress made towards our bottom-line results was encouraging to see, and we look forward to continuing to pursue professional services work with new and existing customers as we grow our global presence."
About TechCreate Group Ltd.
TechCreate Group Ltd. is a Singapore-based payment software solutions provider. Founded in 2015, the Company delivers digital payment and infrastructure solutions to financial institutions, telecommunications, deposit insurance, and enterprises. TechCreate's offerings include real-time payment systems, digital banking platforms, API management, cybersecurity, and cloud computing. Its proprietary Artificial Intelligence Real-Time Engine (AI-RTE) is designed to enable fast, secure, and efficient payment processing. For more information, visit https://www.techcreate.com.sg/.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and TechCreate Group Ltd. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
TECHCREATE GROUP LTD
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
As at
December
31, As at June 30,
----------- --------------------------
2025 2025
2024 (Unaudited) (Unaudited)
----------- ----------- -------------
S$ S$ US$
----------- ----------- -------------
ASSETS
Current Assets
Deferred Cost 576,562 312,458 244,911
Contract Assets 145,383 65,680 51,481
Accounts and Other
Receivable 276,734 110,930 85,950
Amount Due from
Shareholders 4,900 4,900 3,841
Amount Due from Related
Party 11,772 - -
Cash and Cash
Equivalents 1,205,951 1,305,991 1,023,664
Deferred Offering Costs 457,718 711,848 557,962
--------- ---------- ----------
Total Current Assets 2,679,020 2,511,807 1,968,809
--------- ---------- ----------
Non-Current Assets
Property, Plant and
Equipment, net 7,929 6,438 5,046
Right-of-Use Assets --
Operating Leases 83,288 62,699 49,145
Deferred Cost 57,400 96,014 75,258
Total Non-Current
Assets 148,617 165,151 129,449
--------- ---------- ----------
TOTAL ASSETS 2,827,637 2,676,958 2,098,258
========= ========== ==========
Commitments and
Contingencies - - -
LIABILITIES
Current Liabilities
Contract Liabilities 981,651 660,699 517,870
Account and Other
Payables 100,653 363,183 284,672
Amount Due to Directors 14,907 3,646 2,858
Operating Lease
Liability 39,815 37,890 29,699
Income Tax Payables 277 260 204
Working Capital Loans 151,714 156,155 122,398
--------- ---------- ----------
Total Current
Liabilities 1,289,017 1,221,833 957,701
--------- ---------- ----------
Non-Current
Liabilities:
Operating Lease
Liability 47,233 28,742 22,529
Contract Liabilities 8,247 49,293 38,636
Working Capital Loans 608,416 503,249 394,458
--------- ---------- ----------
Total Non-Current
Liabilities 663,896 581,284 455,623
--------- ---------- ----------
TOTAL LIABILITIES 1,952,913 1,803,117 1,413,324
========= ========== ==========
SHAREHOLDERS' EQUITY
Class A Ordinary
Shares, US$0.0002 par
value, 225,000,000
shares authorized,
14,927,250 shares
issued and
outstanding as of
December 31, 2024 and
June 30, 2025
respectively.* - - -
Class B Ordinary
Shares, US$0.0002 par
value, 25,000,000
shares authorized,
2,572,750 shares
issued and
outstanding as of
December 31, 2024 and
June 30, 2025
respectively.* - - -
Additional Paid-in
Capital 1,351,540 1,351,540 1,059,367
Accumulated Other
Comprehensive Loss (7,875) 11,389 8,924
Retained Earnings/
(Accumulated Losses) (468,941) (489,088) (383,357)
--------- ---------- ----------
Total Shareholders'
Equity 874,724 873,841 684,934
--------- ---------- ----------
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY 2,827,637 2,676,958 2,098,258
========= ========== ==========
TECHCREATE GROUP LTD
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