1. Headline Performance (YoY)

2. Dividend Update

• FY2026: Board recommended tax-exempt (one-tier) final dividend of S$0.0055 per share (&asymp 32.9% payout of adjusted profit).
• FY2025: No dividend.
• This is the first dividend post-RTO, signalling confidence in cash flow and operational improvement.
• No interim dividend was paid.

3. Key Business Improvements (FY2026 vs FY2025)

• Revenue Growth: Strong across all segments, especially Commercial Vehicle Leasing (main contributor).
• Margin Expansion: Gross margin improved due to better fleet utilization and scale.
• Cash Flow: Operating cash inflow S$11.97M (vs S$16.01M in FY2025) &mdash still healthy despite fleet expansion.
• Balance Sheet:
  • Total Assets: S$129.8M (+17% YoY)
  • Cash: S$6.74M (vs S$3.52M)
  • PPE (Fleet): S$75.8M (vs S$68.8M)

4. One-off Items in FY2026

• Non-cash RTO Accounting Loss: S$9.92M
• RTO Listing Expenses: S$1.85M &rarr These explain the reported net loss. Core business is clearly stronger.

Bottom Line

• Faster revenue & profit growth
• First dividend declared
• Continued fleet expansion
• Stronger cash position

Despite insider buying and bullish guidance, Skylink price is stuck because liquidity is thin, contra flows keep capping rallies, and investors want to see hard results before chasing the breakout above 27 cents.

🧩 Possible Reasons for Skylink&rsquo s Stalled Price

• 
  
  Liquidity & Market Depth:
  Skylink trades in the lower tier segment of SGX, where daily volumes are thin. Even insider buying at 24.5 to 26 cents doesn&rsquo t guarantee momentum if broader market participants are not engaged.
• 
  
  Investor Skepticism:
  Profit guidance sounds strong, but retail investors may be waiting for the actual FY26 results (due end‑ May) before committing. Guidance alone does not always shift sentiment unless backed by earnings delivery.
• 
  
  Contra Players & Short Term Flows:
  As you noted earlier, contra players often close positions by T+4. That creates artificial spikes and retracements, muting the impact of bullish signals.
• 
  
  Macro Headwinds:
  Broader STI and sector peers (like Seatrium, Olam, Singtel) have been choppy. If the overall sentiment is cautious, even a bullish chart structure (inverse H& S, ascending triangle, bullish harami) can stall.
• 
  
  Technical Resistance:
  You&rsquo ve flagged the trendline at 0.27 as a cap. Until Skylink clears that convincingly, buyers hesitate. Breakouts need volume confirmation, which has not materialized yet.