Between Mar 16 and 17, XMH chairman and managing director Tan Tin Yeow acquired a total of 31,000 ordinary shares via market transactions, comprising 30,000 shares for S$54,000 on Mar 16 and 1,000 shares for S$1,800 on Mar 17. This increased his direct interest   from 65.19 per cent to 65.22 per cent, or 71.5 million shares.

 

The company, which provides diesel engine, propulsion and power generation solutions for the marine and industrial sectors, reported its financial results for the first half (ended Oct 31, 2025) of its 2026 financial year last December. Since then, Tan has been increasing his direct interest from the level of 64.18 per cent.

 

For H1 FY2026, XMH posted a 40.5 per cent year-on-year rise in revenue   to S$94 million. Its profit after tax climbed 23 per cent to S$15.5 million from the year-ago period.

 

This was driven by growth across its distribution, project and after-sales segments. The group said its operating momentum was supported by a robust order book, strong project execution and improved operating cash flow, with S$13.2 million generated from operations. 

 

XMH also significantly reduced its borrowings during the period, strengthening its balance sheet and improving financial flexibility heading into H2 FY2026.

 

Multi-Chem CEO lifts stake as group reports mixed results

Between Mar 17 and 18, Foo Suan Sai, CEO of Multi-Chem, acquired 78,800 shares via a market transaction for S$270,284. 

 

Following the purchase, his direct interest increased from 40.22 per cent to 40.3 per cent, lifting his total stake (direct and deemed) from 68.35 per cent to 68.44 per cent, or 61.7 million shares. His deemed interest arises from shares held by his spouse. 

 

Foo, a founding shareholder of the specialty chemical distributor for the printed circuit board (PCB) industry, has spent more than three decades building the group and now oversees its overall direction and development.

 

On Feb 23, 2026, Multi-Chem reported mixed results for FY2025 ended Dec 31. Although its H2 revenue rose 3.4 per cent on the year, supported by a rebound in IT distribution, its profits declined for both the half-year period and full year. 

 

They were weighed down by higher inventory obsolescence, a weaker US dollar, lower interest income and higher finance costs. 

 

The company&rsquo s PCB business continued to wind down following a factory closure. Its cash flow was the standout, with robust operating cash generation lifting net cash to about S$99 million as at Dec 31, supporting a maintained and higher full-year dividend. 

 

While Multi-Chem remains cautious about near-term conditions, given macro and foreign exchange uncertainty, its continued focus on best-of-breed IT products, regional scale and a cleaner balance sheet leaves it well-positioned for when demand normalises.

 

 

Marine engine distributor XMH Holdings announced on Dec 12 a strong set of results for the six months ending Oct 31, recording growth for all three of its business segments.

 

However, the gross profit margin decreased to 32.9% in 1HFY2026 from 36.3% in 1HFY2025. The company attributes the decline to additional costs for meeting the deliveries deadlines and higher customer discounts.

 

Year-on-year, the mainboard-listed company increased revenue by more than 40% to nearly $94 million, gross profit by 27.3% to approximately $31 million and net profit by 23% to around $15.5 million. EPS attributable to shareholders increased by around 22.5% to 14.09 cents.

 

The company also pared down its short-term borrowings from more than $30 million to around $10 million on a y-o-y basis. Its cash holdings also increased y-o-y by more than 17% to around $25.6 million.

 

The company&rsquo s three business segments include: distribution of propulsion engines after-sales services such as spare parts, trading and services (presumably repairs and servicing) and project which pertains to the manufacturing, sale and commission of power generators.

 

On a y-o-y basis, revenue for the distribution business increased by nearly 18% to more than $49.9 million. The after-sales segment saw revenue of around $8.4 million, a 9% increase. Lastly, the project segment earned around $35.6 million in revenue representing a y-o-y increase of 84%.

 

In its earnings statement, XMH expects its business activity to &ldquo remain healthy&rdquo in the second half of the financial year and expresses optimism about growth.

 

In September, XMH announced that it had been slapped with a $143.9 billion ($11.2 million) rupiah tax bill by Indonesia for FY ended 30 April 2024. XMH&rsquo s net profit for FY2025 was $25.5 million.

 

XMH Holdings, which sells engines used in ships, says its Indonesia subsidiary PT Xin Ming Hua Engine has been slapped with a tax bill of 143.9 billion rupiah by local tax authorities, or nearly $10.94 million.

 

For context, XMH' s Holdings reported earnings of just over $25.5 million for its most recent FY2025 ended April.

 

In its announcement to the exchange on Sept 21, XMH Holdings says the tax is for its previous FY2024, and covers not only corporate income tax on PT XMH&rsquo s revenues from sales to customers in Indonesia, but also revenue generated by XMH' s wholly-owned subsidiary in Singapore, Xin Ming Hua, from its direct sales to Indonesia-based customers, which have been attributed to PT XMH.

 

PT XMH, the Indonesian subsidiary facing this tax bill, is in the process of appointing local tax and legal advisors to explore " all available avenues to satisfactorily resolve the issue, including but not limited to, the filing of a formal objection against the tax assessment notice."

 

Just less than a week earlier, XMH announced it is booking a gain of $10 million from selling a 14.8% stake in a subsidiary Mech Power Generator to Mitsubishi Heavy Industries for $12.3 million.

 

XMH Holdings says it will " thoroughly review the basis of the tax assessment by the Indonesian authorities and will take the necessary steps to safeguard its interests."

 

" However, should the full assessed amount be deemed payable, it would have a material financial impact on the group&rsquo s results for the current financial year," warns XMH Holdings.