Latest Forum Topics / Tiong Seng Last:0.099 -- |
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Tiong Seng
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Joelton
Supreme |
19-Jun-2025 11:44
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Tiong Seng sells Tuas Property for $10.5 mil after subsidiary moves out
 
Tiong Seng Holdings will be selling its asset at 6 Tuas South Street 11, Tiong Seng @ Tuas South, to an unrelated third party for a consideration of $10.5 million.
 
On June 18, the company granted an option to purchase the Tuas Property, which is a leasehold property granted by Jurong Town Council to TSC with a leasehold tenure of 20 years and six months from May 27, 2015.
 
The cost of acquisition of the Tuas Property by the Tiong Seng was $18,5 million, and the monthly gross rental payable by the group for the Tuas Property is $1.00. The Tuas Property is mortgaged in favour of Malayan Banking Berhad as security for credit facilities extended to the group, under which $1.02 million is outstanding as at Dec 31, 2024.
 
The purchaser is Maxwell Technology, a manufacturer of high-end photovoltaic equipment.
 
The group has rented the property out to its wholly-owned subsidiary Robin Village Development (RVD) as an office, storage, warehouse and the assembly of prefabricated bathroom units among other usages. RVD has since shifted a portion of its operations to Malaysia and no longer requires the usage of the Tuas property space.
 
Under the option, an option fee of 1% will be payable upon the grant of the option. Then, a sum of $1.05 million or 10% of the consideration shall be payable upon the exercise of the option by the purchaser, and the balance purchase consideration shall be payable upon completion of the disposal.
 
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ahberngh
Elite |
29-May-2025 10:17
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After reacquisition by the Tianjing authorities, Tiong Seng will receive about S$34M, out of which about S$11M is profit. The money received will be useful for their warchest. |
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spursfan
Elite |
29-May-2025 10:10
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up on reacquisition gain MUTUAL TERMINATION OF LAND USE RIGHTS AGREEMENT AND REACQUISITION OF STATE-OWNED LAND AND BUILDINGS IN ZIZHULIN, TIANJIN  " Accordingly, Tianjin Zizhulin expects to record a total gain of approximately RMB59,768,319 (equivalent to approximately S$11,122,286) after deducting acquisition and development costs, the aforesaid RMB16,000,000 fee and taxes. " https://links.sgx.com/1.0.0/corporate-announcements/7EEB9K00BA5Q54VL/847256_TSHL%20-%20Announcement%20of%20Reacquisition%20of%20Zizhulin%20Property.pdf |
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ahberngh
Elite |
02-Apr-2025 12:05
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This is a recovery story. After 3 years of horrendous losses, Tiong Seng is digging itself out of a deep hole. It is on the SGX watchlist. In 2024, it managed to turn around with a small profit. As far a I am concerned, today it reached a new milestone, the share price broke above 10c. With cost cutting and new contracts,businesses, I have some confidence the turnaround story is real. Just my opinion, please dyodd. Vested. |
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Joelton
Supreme |
01-Mar-2025 15:55
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Tiong Seng reverses into earnings for FY2024 of $4.26 mil, but made a loss y-o-y for 2HFY2024
 
Construction group and property developer Tiong Seng Holdings reverses into earnings of $4.26 million for FY2024 ended Dec 31, 2024. However, for the 2HFY2024, the group made a loss of $87,000. 
 
Earnings per share for FY2024 came in at 0.65 cents per share. 
 
The group saw revenue for the full year growing 17% y-o-y to $526.6 million, but revenue for 2HFY2024 declined 8% y-o-y to $286.0 million. 
 
The group says that key factors driving the turnaround included resuming construction work post-Covid-19 pandemic, and implementing effective cost management measures.
 
For the 2HFY2024, the group&rsquo s revenue decreased due to a decline in revenue from the construction and engineering solutions segment. This was caused by the completion of certain existing projects and the lower revenue recognition for the initial phase of new projects secured in 2HFY2024. 
 
The group&rsquo s operating loss in 2HFY2024 of $0.1 million compared to a profit the year before was due to profits generated from the engineering solutions and the property development segments, partially offset by an operating loss in the construction segment.
 
The group&rsquo s revenue for the full year however increased due to increase in revenue from construction and engineering solutions. 
 
Revenue from the property development segment amounted to $9.4 million in FY2024 mainly
attributable from the sale recognition of two units from Tranquility Project and 10 units from Equinox Project. 
 
The group&rsquo s 2025 strategy focuses on sustainable growth through strategic partnerships and enhanced internal capabilities. It says that it has refined its project selection criteria to emphasise on quality and margins. 
 
As at Dec 31, 2024, the group&rsquo s order book stood at $0.60 billion, expected to extend until 2028.
 
The group has not proposed any final dividend for the reporting period. 
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ahberngh
Elite |
10-Feb-2025 16:25
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Slowly creeping up, today 9.3c. If full year result shows a profit and the market cap stays above 40M, I won' t be surprised if share price goes above 10c. Singapore construction sector is booming. Just my opinion, please dyodd.   |
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7ocean
Veteran |
03-Jan-2025 10:04
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Could it be using bad debts to trade off equity
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kepoh88
Veteran |
03-Jan-2025 00:05
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Personally, don' t think Mr Soh (CS) so stupid to buy into TS at premium price of 10c. Something is brewing, kha - kha hoot!! |
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kepoh88
Veteran |
02-Jan-2025 02:02
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No need to resort to talk down the stock,will never succeed. 2025 is year for Construction stocks to shine....many big project in pipeline.
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kepoh88
Veteran |
02-Jan-2025 01:59
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Dont quite agree with you, there are many not from Harvard , Cambridge , just normal U or college yet they shines Jack Ma , Steve Job among others.. so, is the mindset 思 维 and oppotunity that count.
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desmlee
Member |
01-Jan-2025 19:55
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Dont think market really care much about family or not as long as can make money and give big dividends back to shareholders | ||||
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n3wbie
Elite |
01-Jan-2025 18:43
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Classic Asian families and towkays. Havent looked at this stock in ages, cant believe its down to 8c... iirc, they also did a consolidation previously to meet the 20c minimum price for mainboards previously.
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moonsun
Veteran |
01-Jan-2025 14:38
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What you expect in sgx ? Even money laundering guy before he jailed was listed no signboard director..
This is the legal way.. disclosure based regime.. Got 1 lawyer say spore too stringent.. investors must accept more risks here.. u want invest ? Dyodd |
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7ocean
Veteran |
31-Dec-2024 11:08
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A young man who just graduated from college becomes the Executive Director without work experience, How can he running Listed company, This is a typical family busness.
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Joelton
Supreme |
31-Dec-2024 09:49
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Tiong Seng to raise $2 million via placement at 10 cents per share
 
Contractor Tiong Seng Holdings BFI is raising $2 million by placing 20 million shares at 10 cents each to its longtime business partner Continental Steel.
 
At 10 cents, the placement price is a premium of 19.33% to Tiong Seng' s last traded price of 8.38 cents on Dec 27.
 
Upon completion of the placement, Continental Steel, in operation since 1982, will hold a 4.34% stake in Tiong Seng.
 
Tiong Seng says it will use all the net proceeds from the placement for working capital.
 
In its announcement on Dec 30, Tiong Seng says that placement is a " strategic investment" to " build on the established and robust working relationship between itself and Continental Steel.
 
" By combining our complementary expertise, we are well-positioned to tackle some of the most critical challenges in urban infrastructure and environmental sustainability,&rdquo says Tiong Seng' s executive director Pek Zhi Kai.
 
" This investment represents more than a financial transaction it is a commitment to advancing sustainable building practices and driving technological innovation in Singapore' s built environment sector," says Ronnie Lim, Continental Steel' s executive director.
 
" We believe that by pooling our resources and expertise, we can create more resilient, efficient, and environmentally responsible infrastructure solutions that will benefit our industry and community," adds Lim.
 
Tiong Seng was placed on the Singapore Exchange S68 Regulation&rsquo s watch-list in December 2023. Shares in Tiong Seng closed flat at 8.4 cents on Dec 30. 
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Bigwin$
Member |
18-Dec-2024 20:45
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Buy already must prepare to sell at 0.01 | ||||
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Secret_Squirrel
Elite |
18-Dec-2024 20:08
Yells: "Stay curious but skeptical" |
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Virtual tour of cairnhill16.  ![]() https://cairnhill16-official.sg/360-showflat-virtual-tour/  
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ahberngh
Elite |
18-Dec-2024 10:38
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Oh, I see .........![]()
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ahberngh
Elite |
18-Dec-2024 09:03
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????
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kepoh88
Veteran |
17-Dec-2024 23:19
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cairnhills16
 
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