As of
   December 31, 2025  December 31, 2024
   $’000  $’000
Furniture and equipment   19    232 
Vehicles       215 
Leasehold improvements   11    11 
Land and land improvements       11,766 
Construction in process       6 
Property and equipment, gross   30    12,230 
Less: accumulated depreciation   (10)   (410)
Property and equipment, net   20    11,820 

Historical Timeline

Fiscal YearFiled
2025Apr 29, 2026Showing above
2024Mar 11, 2025
2023Mar 20, 2024
2022Mar 21, 2023
2021Mar 17, 2022
2020Apr 15, 2021
2019May 29, 2020
2018Aug 21, 2019
2017Feb 27, 2019

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.