M-DAQ Global Reports Full-Year 2024 Financial Results: Building a Stronger, More Resilient Foundation for Growth

‍[8 July 2025, Singapore] - M-DAQ Global recently reported financial results for the full year ended December 2024, highlighting a pivotal phase of building a stronger, more resilient foundation for future growth. Despite macroeconomic headwinds, revenue held steady at S$57 million, as M-DAQ Global strategically pivoted toward higher-margin business areas and an expanded focus on core solutions. By implementing proactive and comprehensive management initiatives, the company increased operational effectiveness, reshaping its financial outlook. These efforts yielded significant improvements in profitability, leading to a substantial reduction in net loss. This shift underscores the company's focus in enhancing its core competencies, ensuring it remains well-equipped to capitalise on emerging opportunities.

Driving Profitability Through Strategic Focus

Although revenue remained flat, a key highlight of the year was Gross Profit growth of 9% year-on-year, from S$22 million to S$24 million, boosted by a 13% increase in Gross Profit margin. This upward trend directly reflects M-DAQ Global's strategic emphasis on moving towards profitability while scaling for growth, through focusing on higher-margin enterprise solutions and building capabilities in a fragmented ASEAN collections and payments market.  

Enhanced Operational Efficiency While Investing in the Future

Further reflecting its enhanced operational efficiency, M-DAQ Global saw a 27% decrease in Operating Expenses (OPEX). This reduction was realised alongside strategic investments in the company's future, including new products like FX OTC Derivatives, expanded ASEAN collections and payments, and adoption of generative AI into business operations. This financial management discipline directly contributed to a healthier underlying business model and culminated in a reduction of net loss by S$20 million for the year, a clear indicator of its commitment to building long-term value.

Tan Choon Seng, Group CEO of M-DAQ Global, said, "We are pleased with the progress we've made in improving our profitability and operational efficiency this past year. Just like a seasoned athlete shedding excess weight to maximise performance, this was a pivotal year for us as we strategically realigned our focus to higher-margin opportunities.”

"This focus has bolstered our financial core, yielding improved gross profit margins and a substantial reduction in operating expenses. Our vision is to be the leading B2B cross-border FX & Payments player in Asia, with a strong focus on ASEAN. These foundational changes are intended to drive sustainable growth, significantly expand our presence across this dynamic sector, and reinforce our dedication to customer-centric FX and payment solutions."  

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About M-DAQ Global

M-DAQ Global is a pioneering fintech group specialising in foreign exchange (FX) & payment solutions that facilitate seamless cross-border transactions for businesses worldwide. Our proprietary technology empowers both institutional enterprise businesses and small and medium-sized businesses to navigate international trade with FX clarity, certainty, and payment mobility.  

Headquartered in Singapore with an expanding presence across 7 countries and territories, M-DAQ Global provides a comprehensive suite of FX, collections, and payment solutions, as well as value-added services such as AI-driven KYB onboarding and enhanced risk management solutions, enabling businesses to transact across borders with ease amidst evolving needs.  

For more information, please visit:www.m-daq.com.