Ac

Revenue grew from 3.70 million (FY2023) to 4.37 million (FY2024) and 4.89 million (FY2025). Roughly 1.49 million of FY2025 revenue was recognized over time from continuous secretarial services, offering partial recurrence, while one‑off services (incorporations, accounting deliverables, IP filings) introduce variability.

No single customer exceeded 10 percent of revenue in FY2025, yet one customer accounted for more than half of accounts receivable at year‑end, indicating working capital concentration risk. Heavy Hong Kong exposure and FX translation risks further limit predictability.