Ever Glory
About Ever Glory United Holdings Limited
principally engages in mechanical and electrical (M&E) engineering services, alongside property
investment and development.
The Group’s M&E engineering business began in 2018 through wholly-owned subsidiary, Sunbeam M&E Pte.
Ltd., delivering comprehensive engineering solutions to public and private sector clients. Services include
the supply and installation of air-conditioning and mechanical ventilation systems, electrical engineering
systems, fire protection systems, plumbing, sanitary and gas systems, and integrated building services
across residential, commercial, institutional and industrial projects in Singapore.
Strategic acquisitions have strengthened the Group’s M&E capabilities. In February 2024, Ever Glory
acquired Fire-Guard Engineering Pte. Ltd., an established firm with over 30 years of industry experience,
enabling more integrated, in-house M&E solutions. The July 2025 acquisition of Guthrie Engineering (S) Pte.
Ltd. further enhances scale, provides a larger order book, and the capacity to tender for larger, more
complex projects.
Ever Glory diversified into property investment and development in 2023 through Ever Capital Pte. Ltd.
Current projects include a freehold residential development in Geylang and a food factory development at
Mandai Estate.
The Group holds ISO 9001:2015, ISO 45001:2018 and bizSAFE Star accreditations, demonstrating its
commitment to quality management and workplace safety excellence.
Recent Developments
| Brokerages | Report | Analysts | Recommendation | TP |
|---|---|---|---|---|
| CGS International | Download File | THEN Wan Lin, LIM Siew Khee | ADD | S$1.13 |
| Phillip Securities Research | Download File | BUY | S$1.05 | |
| KGI Securities | Download File | NON-RATED | – | |
| KGI | Download File | Alyssa Tee | INITIATION | S$1.20 |
| CGS | Download File | LIM Siew Khee THEN Wan Lin |
ADD | S$0.87 |
Archive
2026
- 23 Apr 2026 – CGS International: Ever Glory United Holdings Lining up the wins
- 09 Mar 2026 – Phillip Securities Research: Guthrie drives new growth trajectory
2025
- 17 Dec 2025 – KGI Securities: Ever Glory United Holdings Ltd Building scale through strategic acquisitions
- 17 Dec 2025 – KGI: Ever Glory United Holdings Ltd Building scale through strategic acquisitions
- 18 Nov 2025 – CGS: Ever Glory United Holdings Scaling-up-for-a-construction-upcycle.pdf” rel=”noopener” target=”_blank”>18 Nov 2025 – CGS: Ever Glory United Holdings Scaling up for a construction upcycle
Stock Information
| Price | Market Cap (SGDm) | Enterprise Value (SGDm) |
|---|---|---|
| SGD 0.650 | 228.18 | 98.52 |
Key Financial Highlights
| Key Highlights | FY2024 (SGD) |
|---|---|
| Revenue | 74.67M |
| Net Income Available to Common | 8.96M |
| Profit Margin | 12.00% |
| Price/Sales (ttm) | 3.06 |
| Enterprise Value/Revenue | 1.32 |
| Enterprise Value/EBITDA | 15.18 |
| EBITDA | 6.49M |
| EBITDA Margin | 11.36% |
| Gross Margin | 23.10% |
