Multi Ways Holdings Ltd

Listed Company

MWGCIK 0001941500NYSENon-AcceleratedEmerging GrowthMiscellaneous Manufacturing IndustriesVNFY ends Dec 31

Period

FY 2024

Revenue

$31.07M

Net Income

$-2.85M

Total Assets

$69.58M

Equity

$20.09M

Shares Out

33.33M

Op. Cash Flow

$-12.91M

Business

Multi Ways Holdings Ltd is a supplier and lessor of heavy construction equipment, operating a sales and rental business for new and used machinery. It offers earth-moving, material-handling and road-building equipment, cranes, forklifts, generators, compressors and complementary services including refurbishment, servicing, cleaning, transportation, crane erection and operator provision. Its key business segments comprise equipment sales, equipment rental and after-sales services (maintenance, repair and customization). The company serves customers in Singapore and the surrounding region, selling domestically and to overseas customers via direct sales and port shipments.

Summary from filing dated 2025-05-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Total	45	31	36
Cost of revenue	34	21	27
Gross profit	11	10	9
Operating costs and expenses:	—	—	—
Selling and distribution	2	2	952,000
General and administrative	8	9	11
Share-based compensation	—	1	—
Total operating costs and expenses	10	12	12
Profit/(Loss) from operations	772,000	−2	−3
Other Income/(expenses):	—	—	—
Gain on early termination on lease liability	—	—	113,000
Gain/Loss on Dispositions	5,000	50,000	5
Interest Income	108,000	220,000	57,000
Interest expenses	2	2	1
Net Interest Income	1,000	13,000	16,000
Government grants	16,000	21,000	22,000
Foreign Currency Gain/Loss	170,000	−219,000	−43,000
Other Income	185,000	194,000	656,000
Total other (loss)/income, net	−1	−1	5
(Loss)/Profit before income taxes	−433,000	−3	2
Income tax benefit	—	−310,000	−53,000
NET (LOSS)/INCOME	−433,000	−3	2
Net income attributable to non-controlling interest	—	—	−50,000
NET (LOSS)/ INCOME ATTRIBUTABLE TO EQUITY HOLDER OF THE COMPANY	−433,000	−3	2
Other comprehensive (loss)/income:	—	—	—
Foreign currency translation adjustment	331,000	−84,000	269,000
COMPREHENSIVE (LOSS)/INCOME	−102,000	−3	2
Net (loss)/income per share	—	—	—
Earnings Per Share (Basic)	−0.11	−0.9	0.59
Earnings Per Share (Diluted)	−0.11	−0.9	0.59
Shares Outstanding	—	—	—
Basic	4	3	3
Weighted Average Shares Outstanding, Diluted	4	3	3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
ASSETS	—	—
Current assets:	—	—
Cash and Cash Equivalents	2	3
Accounts Receivable	7	6
Inventory	42	45
Other Non-Operating Current Assets	2	2
Financial assets available for sales	125,000	47,000
Other Non-Operating Current Assets	3	8
Total current assets	57	65
Non-current assets:	—	—
Property, Plant and Equipment	1	2
Operating lease, right-of-use asset, net	1	774,000
Other Non-Operating Non-Current Assets	2	2
Deferred Tax Assets, Non-Current	11,000	11,000
Total non-current assets	5	5
TOTAL ASSETS	62	70
LIABILITIES AND SHAREHOLDERS’ EQUITY	—	—
Current liabilities:	—	—
Accounts Payable	6	7
Other Current Liabilities	2	6
Other Non-Operating Current Liabilities	16	15
Bank borrowings	9	13
Lease liabilities	3	5
Total current liabilities	36	45
Long-term liabilities:	—	—
Lease liabilities	3	5
Total long-term liabilities	3	5
TOTAL LIABILITIES	39	49
Total Stockholders' Equity	—	—
Preferred Stock	13,000	9,000
Additional Paid-In Capital	23	20
Retained Earnings	−263,000	170,000
Accumulated Other Comprehensive Income	97,000	−234,000
Total shareholders’ equity	23	20
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	62	70

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Cash flows from operating activities	—	—	—
Income Before Tax	−433,000	−3	2
Adjustments to reconcile net income to net cash provided by operating activities:	—	—	—
Depreciation Expense	420,000	397,000	907,000
Depreciation of right-of-use assets	845,000	812,000	866,000
Restructuring Expense	655,000	943,000	452,000
Written off of advance to suppliers	—	—	956,000
Impairment loss on advance to suppliers	—	223,000	—
Gain on disposal of property and equipment	5,000	50,000	5
Gain on disposal of financial assets available for sales	—	3,000	—
Gain on early termination on lease liability	—	—	113,000
Provision of impairment of trade receivables	145,000	532,000	145,000
Reversal of impairment of trade receivables	12,000	58,000	—
Bad debt recovered	6,000	—	—
Bad debt written off	54,000	—	—
Customer deposit forfeited	185,000	70,000	—
Interest Expense	2	—	—
(Gain)/Loss on revaluation of quoted shares	39,000	−35,000	−22,000
Stock-Based Compensation Expense	—	1	—
Change in operating assets and liabilities:	—	—	—
Accounts receivables	802,000	1	−2
Inventories	−4	9	−4
Deposits, prepayments and other receivables	5	−8	408,000
Accounts payable and accrued liabilities	−1	2	−2
Customer deposits	−3	3	−3
Net Cash from Operating Activities	—	−2,000	−675,000
Net cash provided by/(used in) operating activities	6	−13	55,000
Cash flows from investing activities:	—	—	—
Purchase of property and equipment	202,000	598,000	2
Proceeds from disposal of property and equipment	5,000	464,000	11
Investment in equity securities	—	—	2
Proceeds from/(investment in) financial assets available for sales, net	−38,000	160,000	71,000
Net cash (used in)/generated from investing activities	−235,000	26,000	7
Cash flows from financing activities:	—	—	—
Proceeds from bank borrowing	30	39	—
Repayment of bank borrowing	35	32	7
Proceeds from lease liabilities	2	6	—
Repayment of lease liabilities	6	4	6
Payment of interest on lease liabilities	431,000	—	—
Payment of interest on bank borrowings	544,000	—	—
Stock Repurchases (Issuances)	3	—	14
Payment of dividends	—	—	11
Net Cash from Financing Activities	—	—	10
Net cash (used in)/generated from financing activities	−7	9	−875,000
Effect of Exchange Rate on Cash	−176,000	−153,000	80,000
Net change in cash and cash equivalent	−1	−4	6
END OF THE FINANCIAL YEAR	—	—	—
END OF THE FINANCIAL YEAR	—	—	—
SUPPLEMENTAL CASH FLOW INFORMATION:	—	—	—
Income Tax Expense	−175,000	−18,000	−675,000
Cash refund for income taxes	175,000	18,000	—
Interest Expense	975,000	803,000	1

Filings

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