Announcement PDF 2025 ANNUAL REPORT 1 20 2 5 F i nb a r G r oup L i m i t e d A nnua l Re p or t Contents 3 16 4 18 6 19 About Finbar Chairman’s Report CEO’s Report 8 Our Finbar Development Timeline Completed Projects 23 FY25 Highlights Projects Under Construction 10 25 12 29 ESG at Finbar Investment Properties 13 31 Key Financial Metrics Project History 14 Celebrating 30 Years Future Projects Financial Report 2 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t About Finbar Finbar Group Limited has been shaping inner-city Perth for over three decades, delivering prestigious, well-appointed apartments that combine innovative design with functional, engaging spaces. From a small team of three in a makeshift Como office, Finbar has grown into an 18-strong team led by experienced management, positioning the company at the forefront of Western Australia’s urban development market. Our Business Model At the heart of Finbar is a simple but powerful approach: create high-quality, progressive residential developments that offer value, innovation, and lasting appeal. By delivering thoughtfully designed apartments, we create desirable living environments, enhance community value, and support sustainable growth. Our focus on design excellence and careful project planning ensures each development contributes positively to Perth’s urban landscape. Our Vision Finbar is committed to elevating the quality of inner-city living in Perth. Guided by a skilled and experienced team, we deliver innovative projects that enrich the urban environment for current and future generations. Our reputation as WA’s largest and most trusted apartment developer reflects our dedication to excellence, innovation, and lasting community impact. Our Future Looking ahead, Finbar will continue focusing on inner-city Perth, delivering residential projects that combine progressive design with community benefit. We aim to sustain and enhance urban living, creating vibrant, connected neighborhoods while remaining at the forefront of Western Australia’s lifestyle property market. 3 4 Chairman’s Report 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t “ If we evaluate total comprehensive income on an underlying basis, by removing the impacts of yearly swings in property valuations, the figure for the current year is 16% higher at $16.17 million against $13.90 million from the year before. This demonstrates the positive momentum of our core business as we enter FY2026. JOHN CHAN Dear Shareholders, I am pleased to present Finbar Group’s Annual Report for the 2025 financial year, marking our thirtieth year of operations in Western Australia. This milestone has been defined by strategic transitions, robust financial performance, the successful delivery of premium developments, and a leadership transition, all achieved throughout ongoing industry challenges. Finbar’s success over the past three decades is a testament to our growth strategy. What began in a two-bedroom apartment in Como has evolved into the delivery of 79 developments and 7,400 apartments across Western Australia. This journey of determination and success was capped off by the completion of the landmark Civic Heart project in South Perth last year, of which we are incredibly proud. We never lose sight of the fact that we are building homes for our customers to live in. Finbar has recorded total comprehensive income of $14.4 million for the year ending 30 June 2025. Although this is a slight decrease from last year’s $16.4 million, with the difference primarily driven by office asset revaluations, our revenue has significantly increased to $284.5 million, from $194.3 million in 2024. This strong performance demonstrates our capability to complete complex developments successfully. If we evaluate total comprehensive income on an underlying basis, by removing the impacts of yearly swings in property valuations, the figure for the current year is 16% higher at $16.17 million against $13.90 million from the year before. This demonstrates the positive momentum of our core business as we enter FY2026. ” in Rivervale and Aurora in Applecross. These developments have performed exceptionally well, with strong settlement rates demonstrating the continued demand for quality apartment living in Perth’s premier locations. A highlight has been the successful leadership transition and the implementation of a revitalised executive structure. We extend our thanks to Mr Darren Pateman, our former Managing Director, for his contribution to the company’s growth and success, and wish him well for the future. As a result, the Board has declared a final fully franked dividend of 2.0 cents per share, continuing our commitment to delivering shareholder returns while maintaining prudent capital management. Our strong cash position of $36.4 million, combined with a low debt balance of $56.7 million at year-end, demonstrates our sound financial stewardship and provides us with flexibility for future opportunities as we work to deliver our five-year development pipeline of over $1 billion in estimated end value. With the execution of our planned succession strategy now complete, we have embedded a new executive leadership model that enhances operational focus, leverages our agile and collaborative culture, and improves alignment of executive responsibilities with our strategic priorities. This structure is designed not only to drive efficiency and innovation in the near term, but also to position the Company for scalable growth and long-term value creation. This year has seen significant achievements in project delivery, with the successful completion of The Point As part of this leadership change, we are pleased to welcome Ronald Chan as our new Chief Executive Officer. 5 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t Riverbank Residences Ronald has been with the Company for over 21 years and has served as Chief Operations Officer since 2013. His proven track record in delivering operational excellence, building strong partnerships, and driving sales, positions him to lead Finbar into its next chapter of success and growth. The Perth property market continues to present favourable conditions for our business. While construction costs and labour challenges persist, the fundamental undersupply of housing stock, particularly in the apartment sector, supports our development pipeline. Our upcoming projects, including Riverbank Residences, Palmyra West, and Romeo Applecross, position us well to address this market demand. We are proud of our long-standing relationship with Hanssen and Chang Architects, our loyal and exclusive builder and architect, whose expertise continues to underpin the quality and design of our developments. On behalf of the Board, I would like to thank our executive team and all Finbar staff for their dedication and hard work throughout this transitional year. Their commitment to excellence continues to be evident in the quality of our developments and our strong market position. To our customers, thank you for choosing Finbar to build your homes and investments. Finally to our shareholders, thank you for your ongoing support and trust in Finbar. As we begin our fourth decade, our focus remains on providing premium developments and sustainable returns. With a robust project pipeline, a skilled and experienced team, and a clear strategic plan, we are well-equipped to seize upcoming opportunities and keep creating value for all stakeholders. John Chan Chairman 6 CEO’s Report 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t “ The recent sell out of our $114 million Bel-Air apartments project ahead of completion and almost 30% of the 143 residential units sold at Riverbank Residences during its two week pre-launch campaign, are a strong indication of demand for mid-tier apartment product in Western Australia from both owner-occupiers and increasingly investors. RONALD CHAN Dear Shareholders, I am pleased to present Finbar’s 2025 annual report, and my first annual report as Chief Executive Officer. The 2025 financial year has been a strong period for Finbar and marks a significant milestone as we celebrate 30 years of shaping communities and redefining apartment living in Western Australia. This year has been marked by substantial strategic changes, successful project completions, and a continued focus on our primary development activities despite ongoing industry challenges. I am pleased to present a detailed overview of our performance and outlook for the year ahead. Financial Performance Finbar reported a total comprehensive income of $14.4 million for the year ended 30 June 2025. While this is down slightly from last year’s $16.4 million, our revenue increased substantially to $284.5 million, up from $194.3 million in 2024. Our cash position at year-end stands at $36.4 million, following the successful completion and settlement of significant projects and our strategic divestment activities. The Board has declared a dividend of 2.0 cents per share, demonstrating our commitment ” to delivering shareholder returns while maintaining prudent capital management. ability to adapt to market conditions while maintaining our high standards of quality and design. Project Delivery This financial year saw the successful completion of two significant projects: The Point in Rivervale and Aurora in Applecross. The Point has achieved strong sales with over 87% of the units now sold. Aurora has similarly performed well, with 84% of its 121 units sold, showcasing the enduring appeal of our premium developments. Market Conditions and Outlook The Perth property market continues to present a mix of challenges and opportunities. While construction and labour costs remain elevated, Western Australia’s persistent shortage of housing stock is underpinning demand and fuelling activity in the construction sector. Our award-winning project, Civic Heart continues to sell down available stock, with only 7% of the 334 units remaining. Our Garden Towers development in East Perth is progressing, with construction on schedule The project has achieved significant pre-sales success, with 73% of the residential and six commercial units sold. Similarly, our Bel-Air project in Belmont has performed exceptionally, with all residential and commercial units sold ahead of completion, reflecting the ongoing demand for quality apartment living in well-connected locations. These achievements underscore our This significant undersupply of housing, particularly within the apartment sector, positions Finbar favourably to contribute meaningfully to addressing this shortfall, while supporting sustainable price growth across the market. Finbar’s proven capability in managing projects to both time and budget ensures that the Company is well placed to capture these opportunities. Importantly, overall market demand and sales volumes remain the key economic indicators for our business, rather than reliance on unsustainable price escalation. This disciplined approach supports the Company’s longterm resilience and value creation for shareholders. 7 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t Reflecting this, the recent sell out of our $114 million Bel-Air apartments project ahead of completion and almost 30% of the 143 residential units sold at Riverbank Residences during its two week pre-launch campaign, are a strong indication of demand for mid-tier apartment product in Western Australia from both owner-occupiers and increasingly investors. Project Pipeline Our project pipeline is robust, with several approved developments ready to commence. In addition to Riverbank Residences in Rivervale, Palmyra West will add 130 residential units to the local community, and Romeo Applecross will add 152 residential and three commercial units, alongside additional future projects. Finbar has developed a strong five-year development pipeline with well-located sites positioning the Company for sustained revenue and profit growth. Current projects under construction represent an estimated end value of $391 million, projects with DA approvals pending market release represent an estimated end value of $364 million. When combined with future plans not yet at these pre-development milestones of circa $261 million, this leads to a total development pipeline value of more than $1 billion. Strategic Focus We maintain a disciplined approach to financial management, focusing on supply chain optimisation, cost control, and maintaining strong relationships with our financial partners. Our presales requirements before construction commencement continue to serve as a strong risk management tool, while our established relationships with major Australian banks ensure stable and well priced project funding. The company’s strong balance sheet and careful management of debt position us well to weather market fluctuations while pursuing strategic growth opportunities. The WA built form development industry continues to be constrained by a lack of overall construction capacity, including access to skilled labour, with no expectation that this will change in the short to medium term. In contrast, Finbar possesses a unique competitive advantage with its longterm relationship builder, Hanssen. The relationship provides Finbar with cost certainty, margin protection and confirmed delivery capacity. This year marked a pivotal moment in Finbar’s history with several leadership changes. Following Darren Pateman’s resignation as Managing Director, we’ve implemented a new executive structure to drive the company forward. Over the years, Finbar’s growth into Western Australia’s largest apartment developer has been the result of a collective effort, with Darren, the executive team and our dedicated staff all contributing to the delivery of some of Perth’s most iconic residential projects and the establishment of a strong foundation for the company’s future. Building on this legacy, the appointments of Melissa Chan as Chief Operating Officer, Jennifer Lim as Chief Financial Officer, and Scott Cameron as General Manager and Company Secretary bring a refreshed executive team that combines continuity with new perspectives. Together, this team is well placed to guide Finbar into its next phase of growth and deliver even greater success. Our focus on the Company’s core business was also reflected in the completed sale of non-core subsidiaries, Finbar to Rent and Finbar Sales, on 30 June 2025 for a combined $2.55 million. In the future, we intend to leverage our strategic advantages by placing more emphasis on wholly owned projects. For larger developments, we will continue to consider joint ventures only where a significant equity contribution is required, ensuring that such arrangements are undertaken selectively and strategically. This approach is designed to create greater value for our shareholders as we progress through, and continue to refresh, our development pipeline. Looking ahead, we are increasing our focus on sustainable development practices and innovative design solutions to address growing environmental concerns and contribute to long-term cost efficiencies for our buyers. Our commitment to quality and sustainability continues to differentiate Finbar in the market and attracts discerning buyers who value long-term investment in their homes. Acknowledgements Thank you to our dedicated team, whose commitment and expertise have been instrumental in navigating this year of transition and achievement for Finbar. Our partnerships with our joint venture partners, financiers, including Westpac, CBA and NAB, together with our builder Hanssen, architect Chang Architects, sales teams, suppliers and consultants remain integral to the continued success of our business. I also extend special thanks to Darren Pateman for his leadership, dedication and contribution to Finbar’s growth over the 30 years. We recognise our customers have many choices in the property market, and have chosen to trust Finbar for their home purchase or investment. On behalf of our employees and suppliers I thank you. Most importantly, our shareholders deserve our thanks for their continued support and confidence in Finbar’s vision and strategy. We remain well-positioned to capitalise on the opportunities in the Perth property market. Our strong project pipeline, experienced team, and focused strategy provide a solid foundation for continued success. We look forward to delivering strong results and sustainable returns to our shareholders in the coming year. Ronald Chan Chief Executive Officer and Executive Director 8 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t FY25 Highlights Total Revenue $284.5M Settlements 351 Lots Valued at $352M Average Sales per Month $20M Dividend 2c per share Total Comprehensive Income $14.4M Earnings Per Share 5.28c 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t 9 FY25 Highlights (continued) Completed Stock Sales 102 Lots Future Pipeline 1300+ Lots Under Construction 539 Lots Total Sales 221 Lots Valued at $236M Valued at $143M Valued at $391M Valued at $1B 10 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t Key Financial Metrics SOURCE OF EARNINGS TOTAL COMPREHENSIVE INCOME $MILLION $16.4 $14.4 $11.0 $7.1 TOTAL EARNINGS $8.9 Development income 94% $2.8 Rental income 3% Other 3% 2020 2021 2022 2023 2024 2025 FULLY FRANKED DIVIDEND $ PER SHARE Interim Dividend Final Dividend 0.08 Civic 42% DEVELOPMENT INCOME 0.04 Aurora 30% The Point 24% 0.04 0.03 0.02 AT238 4% 0.00 2020 2021 2022 2023 2024 2025 EARNINGS PER SHARE $ PER SHARE RENTAL INCOME $0.06 Pelago 79% $0.05 Fairlanes 15% Other 6% $0.04 $0.02 $0.03 $0.01 2020 2021 2022 2023 2024 2025 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t Key Financial Metrics (continued) PROJECT PIPELINE VALUE $BILLION $1.3 $1.4 $1.5 $1.4 $1.1 2020 2021 2022 2023 2024 $1 2025 Finbar maintains a robust Project Pipeline of $1 BILLION to ensure that the company can capitalise on changing market conditions and bring new product to the market as quickly and efficiently as possible to maximise shareholder returns. PRESALES BOOK VALUE $MILLION $414.8 $439.7 $349.0 $298.2 $175.2 $45.6 2020 2021 2022 2023 2024 2025 Sales achieved at Bel-Air and Garden Towers has contributed to FY2025 presales of $298.2 MILLION. TOTAL DEVELOPED UNITS UNITS 6402 6527 6655 2020 2021 2022 6776 2023 7110 2024 7407 2025 Total Developed Units reached 7407 by the end of FY2025 with the addition of 297 units from the completion of Aurora and The Point. Finbar continues to position itself as the largest residential apartment developer in Western Australia. 11 12 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t ESG at Finbar As Western Australia's leading and most trusted apartment developer, Finbar is committed to operating with the highest standards of environmental, social and governance performance. From its earliest days, the Company's success has been guided by an ethos of delivering positive environmental and social outcomes while maintaining a transparent and ethical approach that exceeds the regulatory frameworks under which it operates. The way in which Finbar delivers its core business --developing high-quality residential and mixed-use projects --provides important sustainability benefits. Finbar was the first developer in Australia to adopt Bubbledeck® coaxial slab technology in partnership with its relationship builder Hanssen. This innovation, that utilises recycled plastic balls, reduces the volume of concrete required by approximately one-third compared with conventional slab construction, lowering embodied carbon and lessening environmental impact while maintaining structural performance. Finbar's focus on infill development amplifies these benefits by leveraging existing infrastructure, public transport, and community amenity. This approach minimises urban sprawl, reduces pressure on greenfield land, and contributes to more sustainable, connected cities. Our ESG commitment extends beyond the built form. Finbar strives to develop better lifestyles for people, guided by principles of trust, respect, and accountability. This commitment underpins the Company's role as a responsible joint venture partner, employer, and neighbour to the communities in which we operate. ENVIRONMENT SOCIAL – Using innovative, contemporary, and light-weight construction techniques to reduce carbon emissions – Providing affordable & diverse housing options across the Perth metro area – Optimising design and material selection to reduce energy usage after handover – Aiming to achieve high energy efficiency and thermal comfort ratings for each project – Reducing waste through compaction and building management of diverse waste streams – Reducing land clearing through offering affordable and diverse infill housing options – Promoting adoption of EV through providing backbone infrastructure to catalyse the future installation of chargers – Providing a wide range of amenities in each project with a focus on health and wellness – Supporting local community organisations – Importance of employee diversity & wellbeing – Ensuring all our contractors and suppliers comply with the modern slavery initiatives and requirements. – Providing positive policy outcomes through membership and committee input into the Property Council of Australia (WA) & the Urban Development Institute of Australia (WA) – Broadening the rate base of local governments, supporting the delivery of services they provide to the local community GOVERNANCE – Corporate Governance Statement – Materiality assessment and identification of key ESG issues – Long serving and experienced management and leadership team – Ethical conduct and responsible business practices – Risk management and long term strategic direction – Nurturing employee growth & enhancing skills through training and professional development. – Data security and privacy 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t Project History 2024 121 AURORA Applecross 334 CIVIC HEART South Perth 176 THE POINT Rivervale 2023 121 AT238 Perth 2021 128 DIANELLA APARTMENTS Dianella 125 RIVERENA Rivervale 2020 123 ONE KENNEDY Maylands 167 SABINA Applecross 2019 128 PALMYRA APARTMENTS EAST Palmyra 59 REVA SOUTH PERTH South Perth 250 VUE TOWER East Perth 2018 244 AIRE WEST PERTH West Perth 138 AURELIA South Perth 2017 227 CONCERTO East Perth 143 MOTIVE West Leederville 2016 13 30 YEARS 79 LANDMARK DEVELOPMENTS 7407 UNITS COMPLETED 2009 21 CIRCLE EAST Northbridge 16 CIRCLE WEST Northbridge 114 CODE Perth 2008 113 111 123 81 49 CERESA Rivervale INFINITY East Perth ALTAIR East Perth DOMUS Perth DEL MAR Mandurah 2007 80 76 60 104 SOHO East Perth AVENA Rivervale SOL APARTMENTS West Perth ONE28 East Perth 2005 116 LINQ Northbridge 169 UNISON ON TENTH Maylands 54 43 98 64 14 ARUM Rivervale SAMPHIRE Rivervale WESTRALIAN East Perth COSMOPOLITAN East Perth RIVERSTONE South Perth 2015 154 63 47 264 ARBOR NORTH Rivervale NORWOOD PERTH Perth TOCCATA East Perth SUBI STRAND Subiaco 2004 94 51 25 45 MARKETRISE West Perth 175 HAY East Perth BLUE 2 South Perth KINGSTON West Perth 2014 188 8 98 194 SPRING VIEW TOWERS Rivervale 52 MILL POINT RD South Perth ECCO APARTMENTS Perth AU APARTMENTS East Perth 2003 30 ST THOMAS SQUARE Subiaco 47 MONTEREY BAY Port Mandurah 2013 188 131 115 43 PELAGO EAST Pegs Creek (Karratha) ST MARKS Highgate ADAGIO East Perth KNIGHTSGATE Currambine 2001 54 47 11 25 2012 111 114 128 31 LIME Victoria Park PELAGO WEST Pegs Creek (Karratha) FAIRLANES PERTH East Perth 18 ON PLAIN East Perth 2000 68 THE RISE East Perth 76 WELLINGTON PLACE East Perth 1 ALBANY HIGHWAY MEDICAL CENTRE Victoria Park 2011 202 X2 APARTMENTS East Perth 1999 2010 75 THE EDGE Victoria Park 85 THE SAINT East Perth 1 CORFIELD STREET MEDICAL CENTRE Gosnells 12 MATILDA BAY APARTMENTS Crawley 1998 78 PADDINGTON PLACE West Perth 1997 2009 34 50 62 197 71 71 5 167 MELVILLE PARADE South Perth 15 SEVILLE ON THE POINT South Perth 1996 3 THE LINKS South Perth 5 19 RENWICK STREET South Perth VERVE Perth HORIZON CENTRAL Maylands HORIZON SIXTH Maylands ROYALE Perth REFLECTIONS EAST East Perth REFLECTIONS WEST East Perth BLUEWATER South Perth CHELSEA GARDENS West Perth 85 MILL POINT ROAD South Perth THE 10TH TEE The Vines 14 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t Finbar Group Limited: Celebrating 30 Years of Excellence in Urban Development Since its inception in 1995, Finbar Group Limited has been at the forefront of Perth's urban transformation. What began as a modest venture operating from a two-bedroom apartment in Como has evolved into Western Australia's largest and most trusted apartment developer, with over 79 landmark developments delivered to date . 15 2 0 2 5 F i n bar G r oup L i m i t e d A nnua l Re p or t 1990s: Laying the Foundations 2010s: Achieving Milestones In 1995, Finbar listed on the ASX as a property development company and commenced its first project, Seville on the Point in South Perth. The successful completion of this 15-unit development marked a significant milestone, setting the standard for Finbar's commitment to quality and design excellence. The project also saw the company declare its maiden dividend and report its first net profit of $0.7 million . The 2010s saw Finbar consolidate its position as a leading developer in Western Australia through a series of high-profile and award-winning projects. During this period, the company completed key Pilbara developments, Pelago West and East, while its commitment to design excellence was recognized with UDIA awards for St. Marks, Pelago West, Spring View Towers, and Concerto. This decade also marked the completion of Finbar’s largest development to date, Subi Strand, and the company celebrated reaching 6,000 apartments delivered. In addition, Finbar achieved the benchmark of successfully completing over $3 billion in developments, reinforcing its reputation for innovation, quality, and a transformative impact on Perth's urban landscape. 2000s: Expanding Horizons Throughout the early 2000s, Finbar expanded its portfolio, delivering a series of successful projects that solidified its reputation in the market. The company's focus on high-quality, innovative apartment designs resonated with homebuyers and investors alike, driving sustained growth. During this period, Finbar completed Westralian, its first luxury project on Terrace Road, relocated to its first corporate office, reached a $10 million net profit milestone, and celebrated the completion of over 2,000 apartments. 2020s: Defining the Skyline In the 2020s, Finbar celebrated its 30th year listed on the ASX, marking three decades of growth and achievement. Since its inception, the company has completed over $4 billion in developments and delivered multiple award-winning projects. The completion of Civic Heart, Perth's tallest residential building, further cemented Finbar’s reputation for excellence, also receiving UDIA and Property Council awards. Notably, Sabina Applecross earned recognition from both UDIA and the Property Council. These accomplishments reflect Finbar’s continued leadership in shaping Perth’s skyline and delivering innovative, highquality residential developments. Looking Ahead As Finbar celebrates 30 years of success, the company remains committed to its mission of delivering high-quality, innovative residential developments that enhance the urban experience. With a dedicated team and a strong pipeline of over $1 billion in future projects, Finbar is well-positioned to continue its leadership in Western Australia's property development sector. 16 2 0 2 5 F i n ba r G r oup L i m i t e d A nnua l Re p or t Our Finbar JOHN CHAN RONALD CHAN Executive Chairman Chief Executive Officer and Executive Director BSc, MBA, MAICD John Chan is Executive Director and Chairman of Finbar, and a Director of its Subsidiaries and Jointly Controlled entities. John was appointed director in 1995 and was instrumental in re-listing Finbar on the ASX as a property development company. Prior to joining Finbar, John headed several property and manufacturing companies both in Australia and overseas. Ronald joined the Board as an Executive Director on 24 February 2017. Ronald became Chief Executive Officer in 2025, bringing 21 years of experience in Finbar’s Company operations where he has worked in several roles in the organisation including marketing, contract administration, and Chief Operations Officer from 2013 to 2025 where he gained an intimate understanding of the Company's relationships and systems and managed the Company's transition to digital and online marketing strategies. TERENCE PEH ELDON WAN Non-Executive Director Non-Executive Director B COMM, M COMM B Acc, FCA Terence is Chief Executive Officer and Executive Director of Chuan Hup Holdings Limited, an investment company listed on the Singapore Stock Exchange, and Finbar's largest corporate shareholder. Eldon is the Chief Operating Officer of Chuan Hup Holdings Limited, an investment company listed on the Singapore Stock Exchange, and Finbar's largest corporate shareholder. Terence has over 26 years of experience in property development investment and project management in the Asia Pacific, and management experience in finance in the marine and electronics manufacturing services industries. Eldon has over 27 years of experience in the finance and accounting sectors. He has accumulated industry experience in mergers and acquisitions, financial and management reporting, budgeting, taxation, treasury as well as cor