Tiong Seng Holdings
About Tiong Seng Holdings Limited Established in 1959 and listed on the Mainboard of the Singapore Exchange since 2010, Tiong Seng Holdings Limited (SGX: BFI) is principally engaged in three core pillars of business: Building Construction & Civil Engineering, Property Development and Engineering Solutions. Tiong Seng is one of the leading building and civil engineering contractors in Singapore, and holds the highest grading of A1 from the Building and Construction Authority (BCA) for both general building and civil engineering, qualifying the Group to undertake public sector projects with unlimited contract value. For over 60 years, Tiong Seng has built up a comprehensive track record of private and public sector projects of different complexity, uses and sizes. On the property development front, Tiong Seng has successfully developed both residential and commercial projects in various second and third-tier cities in China, including Tianjin, Suzhou and Yangzhou. The Group currently has three ongoing projects in the Bohai Economic Rim, one of the main economic zones in China. More recently, the Group made headway in the Singapore property market with acquisitions of residential landbanks in the prime districts 9 and 10. As a technological frontrunner, Tiong Seng has developed a diverse portfolio of innovative innovations which encompasses Engineering Solutions, the Group’s third business segment. This segment provides building solutions as a service and comprises a blend of engineering capabilities such as Prefabricated Prefinished Volumetric Construction (“PPVC”), Pre-cast, Structural Steel, Mass Engineered Timber (“MET”) and Tunnel Segment production. With this assetlight business model, the Group is positioned to capture rising industry demand for modern and efficient building solutions.
Recent Developments
- 12 Aug 2024 General Announcement::Contract Awarded For The Proposed Additions & Alterations To The Singapore Aviation Academy
- 12 Aug 2024 Announcement in Relation to Regulatory Actions by SGX and/or Other Authorities::Quarterly Update Pursuant To Rule 1313(2) Of The Listing Manual
- 12 Aug 2024 Asset Acquisitions and Disposals::Announcement Pursuant To Rule 706A Of The Listing Manual Of The SGX-ST
- 12 Aug 2024 Financial Statements and Related Announcement::Half Yearly Results
- 29 May 2024 General Announcement::Changes In The Composition Of The Board Of Directors And Board Committees
- 29 May 2024 Change - Announcement of Appointment::Appointment of Ng Kim Beng as an Independent Non-Executive Director
- 15 May 2024 Announcement in Relation to Regulatory Actions by SGX and/or Other Authorities::Quarterly Update Pursuant To Rule 1313(2) Of The Listing Manual
- 30 Apr 2024 REPL::Annual General Meeting::Voluntary
- 24 Apr 2024 Change - Announcement of Cessation::Retirement of Non-Executive and Independent Director
- 24 Apr 2024 Response to SGX Queries::
- 15 Apr 2024 General Announcement::Corrigendum To The Appendix Dated 15 April 2024
- 15 Apr 2024 Annual General Meeting::Voluntary
- 15 Apr 2024 Annual Reports and Related Documents::
- 20 Mar 2024 Change - Change in Corporate Information::CHANGE OF REGISTERED OFFICE ADDRESS
- 28 Feb 2024 Announcement in Relation to Regulatory Actions by SGX and/or Other Authorities::Quarterly Update Pursuant To Rule 1313(2) Of The Listing Manual
- 28 Feb 2024 Asset Acquisitions and Disposals::Announcement Pursuant To Rule 706A Of The Listing Manual Of The SGX-ST
- 28 Feb 2024 Financial Statements and Related Announcement::Full Yearly Results
- 08 Feb 2024 Asset Acquisitions and Disposals::COMPLETION OF THE PROPOSED SLF PROPERTY DISPOSAL
- 05 Jan 2024 General Announcement::Minutes of Extraordinary General Meeting held on 15 December 2023
- 15 Dec 2023 REPL::Extraordinary/ Special General Meeting::Voluntary
- 05 Dec 2023 Announcement in Relation to Regulatory Actions by SGX and/or Other Authorities::NOTIFICATION OF INCLUSION ON THE WATCHLIST DUE TO THE FINANCIAL ENTRY CRITERION
- 30 Nov 2023 Extraordinary/ Special General Meeting::Voluntary
- 10 Oct 2023 Asset Acquisitions and Disposals::EXERCISE OF OPTION TO PURCHASE FOR PROPOSED DISPOSAL OF PROPERTY AT 510 THOMSON ROAD
- 26 Sep 2023 Asset Acquisitions and Disposals::UPDATE ON PROPOSED DISPOSAL OF PROPERTY - EXTENSION OF EXERCISE PERIOD FOR OPTION TO PURCHASE
- 13 Sep 2023 Waiver::Approval from SGX-ST For Waiver from compliance with Rule 1019(1) of The Listing Manual
- 29 Aug 2023 General Announcement::LODGEMENT OF POLICE REPORT AND COMMENCEMENT OF LEGAL PROCEEDINGS
- 14 Aug 2023 Asset Acquisitions and Disposals::Announcement Pursuant To Rule 706A of The Listing Manual
- 14 Aug 2023 General Announcement::LODGEMENT OF POLICE REPORT AND COMMENCEMENT OF LEGAL PROCEEDINGS
- 14 Jul 2023 Change – Announcement of Appointment::Appointment of Chief Financial Officer
- 14 Jul 2023 Change – Announcement of Cessation::Cessation of Chief Financial Officer
- 23 Jun 2023 REPL::Change – Announcement of Appointment::Re-designation of Dr Teo Ho Pin as Non-executive Chairman
- 23 Jun 2023 General Announcement::Re-Constitution of the Baord
- 23 Jun 2023 Change – Announcement of Appointment::Re-designation of Dr Teo Ho Pin as Non-executive Chairman
- 23 Jun 2023 Change – Announcement of Appointment::Appointment of Ong Seet Joon as an Independent Director
- 23 Jun 2023 Change – Announcement of Cessation::Retirement of Non-Executive Chairman
- 01 Jun 2023 Notice of 3 Consecutive Years’ Losses::Notice of 3 Consecutive Years’ Losses
- 24 May 2023 General Announcement::Minutes of Annual General Meeting
- 28 Apr 2023 REPL::Annual General Meeting::Voluntary
- 26 Apr 2023 Response to SGX Queries::
- 17 Apr 2023 Response to SGX Queries::
- 13 Apr 2023 Annual General Meeting::Voluntary
- 13 Apr 2023 Annual Reports and Related Documents::
- 13 Apr 2023 Financial Statements and Related Announcement::Discrepancies between unaudited and audited accounts
- 28 Feb 2023 Asset Acquisitions and Disposals::Announcement Pursuant To Rule 706A of The Listing Manual
- 28 Feb 2023 Financial Statements and Related Announcement::Full Yearly Results
- 24 Feb 2023 Financial Statements and Related Announcement::Profit Guidance
- 22 Dec 22 General Announcement::Sloane Residences, a Tiong Seng Construction, for TSky Development achieves TOP; 90% of Units Sold
- 5 Dec 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 28 Nov 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 22 Nov 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 18 Nov 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 17 Nov 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 11 Nov 22 Change – Announcement of Appointment::Appointment of Chief Financial Officer
- 11 Nov 22 Change – Announcement of Cessation::Cessation of Chief Financial Officer
- 3 Nov 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 31 Oct 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-back Notice
- 26 Oct 22 Share Buy Back – Daily Share Buy-Back Notice::Share Buy Back – Daily Share Buy-Back Notice
Investment Merits
- Established track record of 60 years
- Experienced and dedicated management team
- Strong focus on cost efficiencies, quality and reliability
- Capable of handling a wide spectrum of projects
- Complementary business segments and ability to leverage our experience across these business segments
Stock Information
(as of 02 September 2024)
Price | Market Cap (SGDm) | Enterprise Value (SGDm) |
---|---|---|
SGD 0.0630 | 27.79 | 54.40 |
Key Financial Highlights
Key Highlights | TTM (SGD) |
---|---|
Revenue | 563.91M |
Net Income Available to Common | 8.34M |
Profit Margin | 1.48% |
Return on Assets | 0.34% |
Return on Equity | 9.11% |
Price/Sales (ttm) | 0.05 |
Price/Book (mrq) | 0.36 |
Enterprise Value/Revenue | 0.10 |
Enterprise Value/EBITDA | 2.29 |
Total Cash (mrq) | 68.23M |
Total Debt/Equity (mrq) | 117.70% |
Levered Free Cash Flow (ttm) | -34.1M |