SKK Holdings Ltd. has released its annual financial results for the fiscal year ending December 31, 2024. The company reported a net income of approximately $0.2 million for the year, a significant decrease from the $1.4 million recorded in the previous year. Revenue from services accounted for approximately $2.4 million for the financial year ended December 31, 2023, compared to approximately $1.6 million for the financial year ended December 31, 2022. Revenue from other services remained consistent at approximately $1.2 million for both 2023 and 2022. SKK Holdings Ltd. highlighted foreign currency exchange risk as a key factor affecting its financial results, given that the company's operations in Singapore are conducted in Singapore dollars, while reporting is in U.S. dollars. The translation of financial statements from Singapore dollars to U.S. dollars is a necessary process that impacts the consolidated financial outcomes.
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