Excerpt From FY2025 Financial Report

The Group suffered a  significant overall net loss of S$122.4 million  for the year ended 31 March 2025 as a result of recognition of losses from the provision of impairment losses, depreciation charges, amortisation charges and expected credit losses which amounted to approximately S$36.3 million. Additionally, if excluding the loss from discontinued operation of S$6.4 million and share of losses from cinema and digital business of S$82.4 million, the Group demonstrated resilience by achieving a net profit of S$2.7 million, despite the Concert and Event business having fewer projects completed in financial year ended 31 March 2025 as compared to last year. As at the reporting date, the  Group' s current liabilities exceeded its current assets by S$46.3 million  (31 March 2024: net current assets: $33.9 million).

In assessing the Group' s ability to continue as a going concern until 31 March 2026, the Board has carefully reviewed the Group' s financial position, including current and projected cash flows, creditors' claims, and available financing options.

The Board notes that  there are inherent uncertainties  in this assessment, including the outcome of ongoing capital-raising efforts, the timing and success of negotiations with creditors, and the performance of key business segments such as content, cinema, and live events. These factors represent  material uncertainties  that may cast significant doubt on the Group' s ability to continue as a going concern.