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In FY2025, the Group proudly commemorated its 50th anniversary, a landmark milestone in our corporate history. To honour this half-century of growth and community partnership, we made a donation of $500,000 to Nanyang Technological University (NTU) in the final quarter of FY2024. This contribution specifically bolsters the university’s Enhanced Financial Aid Scheme, ensuring that financially disadvantaged students have the resources to excel.
As we embark on our next half-century, the Group is committed to accelerating our growth trajectory and broadening our strategic footprint. We are not merely striving for incremental improvement; we are focused on achieving operational excellence and scaling our core businesses to capture emerging global opportunities.
Performance by Operating Segments
Manufacturing
In FY2025, manufacturing segment represented 64% or $36.1 million (FY2024: 70% or $38.4 million) of the Group’s revenue. Manufacturing segment comprises mainly blending of lubricating oils and specialty chemicals.
The Group operates four blending plants for its lubricating oil business with two (2) wholly-owned in Singapore and one joint venture each in Vietnam (AP Saigon Petro JSC) and in Chongqing, People’s Republic of China (AP Oil Singapore (Chongqing) Ltd). The plants produce a wide
range of lubricants for automotive, industrial and marine applications. The Group currently holds two (2) main brands for its lubricant business – “AP Oil” and “SIN-O”. Specialty chemicals are produced by two (2) of the Group wholly-owned subsidiaries that is A.I.M. Chemical Industries Pte Ltd and GB Chemicals Pte Ltd.
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Trading
Trading segment includes purchase and sale of manufacturing raw materials for lubricant and specialty chemicals which comprise mainly base oils, chemicals together with finished goods products purchased from third parties. Trading segment accounted for 36% or $20.6 million (FY2024: 30% or $16.3 million) of the Group’s revenue for FY2025.
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Performance by Geographical Markets
AP Oil Group exports a full range of lubricants and specialty chemicals to customers from more than 20 countries. Main markets in FY2025 were Singapore, countries in South East Asia, Middle East, East Asia and Indian Subcontinent.
Singapore was the Group’s largest market, recording 59% (FY2024: 63%) of the Group’s revenue for FY2025. Sales from Singapore decreased by $1.1 million from $34.4 million to $33.3 million mainly as a result from lower manufactured lubricants sales.
South East Asia (excluding Singapore) was the second largest market contributing 16% or $9.0 million (FY2024: 13% or $7.1 million) to the Group’s revenue in FY2025. This was followed by Middle East with 12% or $6.8 million (FY2024: 10% or $5.3 million) to the Group’s revenue in FY2025.
East Asia and Indian Subcontinent accounted for 6% or $3.6 million (FY2024: 8% or $4.4 million) and 6% or $3.2 million (FY2024: 4% or $2.0 million) respectively in FY2025. Other markets made up the balance of 1% or $0.8 million (FY2024: 2% or $1.5 million).
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