On Apr 21, Union Steel Holdings executive director Ang Yew Chye acquired 45,000 shares at an average price of S$0.510 per share. This increased his total interest in the metals, scaffolding, and engineering company from 12.22 to 12.26 per cent. As a co-founder of the group, Ang has been an executive director since August 2004. His preceding acquisition of 15,000 shares at S$0.515 apiece was on Mar 27, and he has increased his direct interest from 12.08 per cent when Union Steel Holdings reported its H1 FY2025 (ended Dec 31) results on Feb 12.

 

Its revenue for H1 FY25 increased by 9.5 per cent to S$58.6 million, driven by stronger performances in the metals and engineering segments, despite a lower contribution from the scaffolding segment. Cost of sales also increased 15.3 per cent while administrative expenses rose by 10.7 per cent, or S$0.9 million, to S$9.3 million in H1 FY2025. This saw the attributable net profit decline 12.2 per cent from H1 FY2024 to S$6.2 million in H1 FY2025.

 

Looking forward, management remains cautiously optimistic about steel leasing and logistics services. They are monitoring increased competition and exploring measures to maintain operational efficiency in the scaffolding segment. Additionally, they hold an optimistic outlook for the near-term prospects of the engineering segment.