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TTM gross margin near 62.5% indicates project-level economics retain substantial value capture before below-the-line costs. If sustained, this margin provides room to fund operations and absorb some cost pressure, even though it has not yet produced net profit.
Operating cash flow rose to about 53.5m from 28.5m in 2025, while free cash flow remained positive and close to operating cash flow. This supports internal funding capacity and suggests capital spending is not consuming most operating cash.
TTM EBITDA and EBIT remain positive despite the revenue decline, indicating the operating business is generating earnings before financing, tax and other below-the-line effects. That operating base could support recovery if the charges overwhelming net income moderate.
Net margin near -97%, with similarly large losses in prior periods, shows that operating profitability is being overwhelmed by below-the-line costs, impairments or other charges. Persistent losses erode equity and make durable earnings conversion a central business risk.
TTM revenue fell 6.3%, extending a weak top-line trend and indicating contraction in the current business base. Without renewed project activity or demand, lower revenue can reduce operating leverage and make debt obligations harder to absorb.
Debt-to-equity around 14.3x, with thin equity relative to assets, leaves a limited capital buffer against operating setbacks. High leverage raises refinancing and downside risk and can divert cash toward financial obligations rather than development or growth.
The latest announcement is out from Debao Property Development Ltd. ( ($SG:BTF) ). Debao Property Development Ltd. has successfully opposed the proposed striking off of its wholly owned subsidiaries, Dynamic
Debao Property Development Limited operates as an investment holding company, primarily engaged in the development and construction of various real estate assets. The company structures its operations into several distinct business segments: Property Development: Concentrates on creating residential, commercial, and other types of properties. Construction Contract: Handles both building structural projects and interior fit-out works. Property Investment: Focuses on the leasing and management of its portfolio of investment properties. Others: Encompasses additional services such as property management, trading activities, and public utility operations.
