Infinity Development Holdings Company Limited (ZBA) has issued a detailed response to questions from shareholders and the Securities Investors Association (Singapore) ahead of its 2025 annual general meeting on Jan, 29 2026.
The Group said its new adhesive-production facility at Kendal Industrial Park, Central Java, remains unaffected by a November 2025 report of Caesium-137 contamination at a separate industrial estate in Banten. All operations and supply chains are “stable”, with no disruption to customers.
Designed for an annual capacity of 14,000 tons, the Indonesian plant is expected to reach full commercial operations once remaining regulatory approvals are obtained. About 55 million Singapore dollars of the roughly 75 million Singapore dollars budgeted for land, construction and machinery has been spent to date; the balance is slated for the financial year ending Sep, 30 2026.
Group-wide maximum capacity will rise about 11 per cent to 83,000 tons once the new facility is fully online and the existing 6,000-ton Indonesian plant is phased out gradually.
Planned expansion into India remains under evaluation, with the target start-up year set for the financial year ending Sep, 30 2027. Management said internal resources and part of the Singapore IPO proceeds will fund that project.
Infinity Development confirmed that nearly all of its capital commitments—about 3 million Singapore dollars as at Sep, 30 2025—are tied to the Indonesian build-out.
IPO expenses totalled roughly 6.5 million Singapore dollars across FY2024 and FY2025, with a further 4.5 million Singapore dollars to be recognised in FY2026.
Management reiterated a cautious FY2026 outlook amid tariff and geopolitical uncertainties, noted stable gross margins and highlighted ongoing R&D into water-based adhesives, which represented less than 1 per cent of cost of sales in FY2025.
The company maintains a net-cash position and does not plan any special dividend beyond ordinary payouts; it will seek shareholder approval for a buy-back mandate at the forthcoming AGM.