NOTES TO FINANCIAL STATEMENTS 31 December 2025 1 GENERAL The Company (Registration No. 201011034Z) is incorporated in Singapore with its principal place of business and registered office at 8 Temasek Boulevard, #36-02 Suntec Tower Three, Singapore 038988. The Company is listed on the Singapore Exchange Securities Trading Limited. The consolidated financial statements are expressed in United States dollars to enhance the comparability of the Group’s financials to other companies in the coal mining industry. The principal activity of the Company is that of investment holding and provision of management support services. The principal activities of the subsidiaries are disclosed in Note 11 to the financial statements. The consolidated financial statements of the Group and statement of financial position and statement of changes in equity of the Company for the year ended 31 December 2025 were authorised for issue by the Board of Directors on 25 March 2026. 2 SUMMARY OF MATERIAL ACCOUNTING POLICY INFORMATION BASIS OF ACCOUNTING - The financial statements have been prepared in accordance with the historical cost basis, except as disclosed in the accounting policies below, and are drawn up in accordance with the provisions of the Singapore Companies Act 1967 and Singapore Financial Reporting Standards (International) (“SFRS(I)s”). Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability which market participants would take into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure purposes in these consolidated financial statements is determined on such a basis, except for sharebased payment transactions that are within the scope of SFRS(I) 2, leasing transactions that are within the scope of SFRS(I) 16, and measurements that have some similarities to fair value but are not fair value, such as net realisable value in SFRS(I) 1-2 or value in use in SFRS(I) 1-36. In addition, for financial reporting purposes, fair value measurements are categorised into Level 1, 2 or 3 based on the degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows: a) Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date; b) Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and c) Level 3 inputs are unobservable inputs for the asset or liability. ADOPTION OF NEW AND REVISED STANDARDS - On 1 January 2025, the Group and the Company adopted all the new and revised SFRS(I) pronouncements that are relevant to its operations. The adoption of these new/revised SFRS(I) pronouncements does not result in changes to the Group’s and the Company’s accounting policies and has no material effect on the amounts reported for the current or prior years except as below. At the date of authorisation of these financial statements, the following SFRS(I)s pronouncements relevant to the Group and Company were issued but not effective: Effective for annual periods beginning on or after 1 January 2026 • Annual Improvements to FRSs–Volume 11 • Amendments to SFRS(I) 9 and SFRS(I) 7: Amendments to the Classification and Measurement of Financial Instruments Effective for annual periods beginning on or after 1 January 2027 • SFRS(I) 18 : Presentation and Disclosure in Financial Statements • SFRS(I) 19: Subsidiaries without Public Accountability: Disclosures Effective date is deferred indefinitely • Amendments to SFRS(I) 10 and SFRS(I) 1-28 : Sale or Contribution of Assets between Investor and Its Associate or Joint Venture 60
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