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https://links.sgx.com/1.0.0/corporate-announcements/7K4NP5AB836AYOQM/891081_MEH_SeaTwirl%20Collaboration.pdf
Mooreast aims to raise $6 mil by issuing new shares at 13.5 cents each
Mooreast Holdings is the latest to join a growing line of listcos doing secondary fund raisings.
The company has appointed Zico Capital to raise and Maybank Securities to help raise up to $6 million by selling 44.45 million new shares at 13.5 cents each.
These new shares will enlarge Mooreast' s share base by 14.65% and the placement price is a discount of 2.03% off the last traded price on May 22.
Mooreast, which expects net proceeds of some $5.83 million, says the funds raised will help it take on additional projects.
placement seem to be well received
spursfan ( Date: 28-May-2026 22:04) Posted:
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Halted 2 days n today all penny rally n Mooreast suck thumbs silly mgt takes 2 .5 days to announce placement
Halt lifted
PROPOSED PLACEMENT OF UP TO 44,450,000 NEW ORDINARY SHARES AT THE PLACEMENT
PRICE OF S$0.135 PER NEW ORDINARY SHARE
? ENTRY INTO PLACEMENT AGREEMENT
https://links.sgx.com/1.0.0/corporate-announcements/LR8HMMG4VKCIC7VR/890691_20260528_MEH_Announcement_Proposed%20placement.pdf
PROPOSED PLACEMENT OF UP TO 44,450,000 NEW ORDINARY SHARES AT THE PLACEMENT
PRICE OF S$0.135 PER NEW ORDINARY SHARE
? ENTRY INTO PLACEMENT AGREEMENT
https://links.sgx.com/1.0.0/corporate-announcements/LR8HMMG4VKCIC7VR/890691_20260528_MEH_Announcement_Proposed%20placement.pdf
Congrats!...
antifragile ( Date: 08-May-2026 10:56) Posted:
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Brewing....
antifragile ( Date: 28-Apr-2026 09:51) Posted:
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price up from 11.5 cents after ann. decent.
SmallSmall ( Date: 28-Apr-2026 09:22) Posted:
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Mooreast to divest 51 Shipyard Road for $29.7 mil
Mooreast Holdings has agreed to divest 51 Shipyard Road for a cash consideration of $29.7 million. On April 27, the group announced that it had granted an option to purchase to HLMG-Nuform System for the sale of the leasehold 30,691 sqm (323,000 sq ft) property. The land &mdash comprising Lots 192V, 193P and 288L of Mukim 7 &mdash is held under a 30-year lease from Jurong Town Corporation (JTC) from July 1, 2013.
The group will receive net proceeds of $19.2 million, which it will use for expansion, capital expenditure and operational build-out purposes at its newly-acquired facility at 60 Shipyard Crescent.
Mooreast acquired the facility from Seatrium New Energy in March for $12.5 million as part of its strategic pivot towards the offshore renewable energy market.
The new facility, which measures 98,919 sqm or around 1.1 million sq ft, will be used to fabricate high-value subsea foundations. It will also serve as a logistics hub to hold, stage and assemble equipment and blocks. The group says having its activities in one location will enable it to &ldquo improve efficiency and reduce project congestion&rdquo .
Mooreast acquired 51 Shipyard Road for $18.5 million in September 2021.
The sale price exceeds the property&rsquo s independent open market valuation of $28 million as at April 8. The price also represents a &ldquo significant premium&rdquo over the book value of the property and plant and machinery of approximately $15.4 million as at Dec 31, 2025.
On the pro forma basis, if the disposal was completed as at end-December 2025, the group&rsquo s net tangible assets (NTA) per share would have increased to 14.6 cents from 8.7 cents. The group&rsquo s earnings per share (EPS) would have increased to 7.26 cents from 1.41 cents originally.
Mooreast has received an option fee of $297,000. The option remains valid till 4pm on July 13. It has not been exercised by HLMG-Nuform. The proposed disposal is conditional upon the approvals of JTC and Mooreast&rsquo s shareholders, among other things.
&ldquo The proposed disposal allows us to unlock value from an asset that has served us well &ndash and to redeploy that capital at a pivotal moment in our growth journey. With our new facility at 60 Shipyard Crescent now in hand, this transaction sharpens our focus and frees up resources that we can direct squarely towards our transformation to serve the emerging floating offshore wind market,&rdquo says Sim Koon Lam, founder, executive director and deputy chairman of Mooreast.
&ldquo The proceeds will accelerate our build-out at 60 Shipyard Crescent, which quadruples our production capacity and positions Mooreast to take on projects of a scale that were simply not possible before,&rdquo adds Eirik Ellingsen, Mooreast&rsquo s CEO.
Mooreast' s ipo price: $0.22
Wont be surprised if owner decided to privatise it at $0.15
Wont be surprised if owner decided to privatise it at $0.15
The Sale Price was arrived at on a willing-buyer, willing-seller basis, and exceeds the independent open market valuation of the Property of S$28.0 million as at 8 April 2026.
It represents a significant premium over the book value of the Property and plant and machinery of approximately S$15.4 million as at 31 December 2025.
The gain on disposal &ndash being the excess of the Sale Price over the book value of the Property and plant and machinery &ndash is approximately S$14.3 million. After settling the outstanding loan and estimated transaction expenses, Mooreast expects to record net proceeds of approximately S$19.2 million. Assuming completion as at 31 December 2025, the Group&rsquo s net tangible assets per share would have increased from 8.7 Singapore cents to 14.6 Singapore cents, while earnings per share would have increased from 1.41 Singapore cents to 7.26 Singapore cents. MAPL has received an option fee of S$297,000. The Option remains valid until 4.00 p.m. on 13 July 2026 and has not yet been exercised by the Purchaser. The Proposed Disposal is conditional upon, amongst other things, the approval of JTC Corporation as lessor of the Property, and the approval of Mooreast&rsquo s shareholders at an extraordinary general meeting to be convened. Mr Sim Koon Lam, Founder, Executive Director and Deputy Chairman of Mooreast, said: &ldquo The Proposed Disposal allows us to unlock value from an asset that has served us well &ndash and to redeploy that capital at a pivotal moment in our growth journey. With our new facility at 60 Shipyard Crescent now in hand, this transaction sharpens our focus and frees up resources that we can direct squarely towards our transformation to serve the emerging floating offshore wind market.&rdquo Mr Eirik Ellingsen, Chief Executive Officer of Mooreast, said, &ldquo The proceeds will accelerate our build-out at 60 Shipyard Crescent, which quadruples our production capacity and positions Mooreast to take on projects of a scale that were simply not possible before. We believe this is the right strategic step at the right time, and one that will deliver long-term value for our shareholders.&rdquo Note: This press release is to be read in conjunction with the SGX announcement released on the same date. ***E
It represents a significant premium over the book value of the Property and plant and machinery of approximately S$15.4 million as at 31 December 2025.
The gain on disposal &ndash being the excess of the Sale Price over the book value of the Property and plant and machinery &ndash is approximately S$14.3 million. After settling the outstanding loan and estimated transaction expenses, Mooreast expects to record net proceeds of approximately S$19.2 million. Assuming completion as at 31 December 2025, the Group&rsquo s net tangible assets per share would have increased from 8.7 Singapore cents to 14.6 Singapore cents, while earnings per share would have increased from 1.41 Singapore cents to 7.26 Singapore cents. MAPL has received an option fee of S$297,000. The Option remains valid until 4.00 p.m. on 13 July 2026 and has not yet been exercised by the Purchaser. The Proposed Disposal is conditional upon, amongst other things, the approval of JTC Corporation as lessor of the Property, and the approval of Mooreast&rsquo s shareholders at an extraordinary general meeting to be convened. Mr Sim Koon Lam, Founder, Executive Director and Deputy Chairman of Mooreast, said: &ldquo The Proposed Disposal allows us to unlock value from an asset that has served us well &ndash and to redeploy that capital at a pivotal moment in our growth journey. With our new facility at 60 Shipyard Crescent now in hand, this transaction sharpens our focus and frees up resources that we can direct squarely towards our transformation to serve the emerging floating offshore wind market.&rdquo Mr Eirik Ellingsen, Chief Executive Officer of Mooreast, said, &ldquo The proceeds will accelerate our build-out at 60 Shipyard Crescent, which quadruples our production capacity and positions Mooreast to take on projects of a scale that were simply not possible before. We believe this is the right strategic step at the right time, and one that will deliver long-term value for our shareholders.&rdquo Note: This press release is to be read in conjunction with the SGX announcement released on the same date. ***E
Press Release
SGX-Listed Mooreast to Divest 51 Shipyard Road for S$29.7 Million
Net Proceeds of S$19.2 Million Will Accelerate Offshore Wind Activities at New Location
https://links.sgx.com/1.0.0/corporate-announcements/N27PVD9YGR32DM6O/885974_MEH%20-%2051%20Shipyard%20Road%20OTP.pdf
SGX-Listed Mooreast to Divest 51 Shipyard Road for S$29.7 Million
Net Proceeds of S$19.2 Million Will Accelerate Offshore Wind Activities at New Location
https://links.sgx.com/1.0.0/corporate-announcements/N27PVD9YGR32DM6O/885974_MEH%20-%2051%20Shipyard%20Road%20OTP.pdf
Mooreast returns to profitability with higher revenue and margins
Mooreast Holdings reported a return to profitability in 2HFY2025, with earnings of $106,000 and full-year earnings of $3.64 million. The company plans to focus on the floating offshore renewable market and has received approval to acquire 60 Shipyard Crescent from Seatrium.
Catalist-listed Mooreast eyes Norway&rsquo s 30 GW offshore wind pie, signs MoU to enhance business opportunities
Mooreast Holdings, Asia&rsquo s only drag-embedment anchor designer and manufacturer, has signed a Memorandum of Understanding (MoU) with Norway-based GMC Holdings AS to collaborate and explore opportunities in floating offshore wind and oil and gas opportunities across the Land of the Midnight Sun and the greater North Sea area.
Under the MoU, both parties will set up a framework to explore joint business opportunities, share technical expertise and create tailored anchoring, mooring, and engineering solutions for the Norwegian offshore market.
Established in 1973, GMC is a family-owned rigging, installation and industrial specialist. Headquartered in Stavanger, Norway, GMC serves the offshore and marine sector in northern Europe.
Mooreast CEO Eirik Ellingsen says that Norway&rsquo s offshore sector is evolving &ldquo rapidly&rdquo with tailwinds for floating renewable projects. He says, &ldquo We look forward to partnering with GMC to tap into their deep local knowledge and operational strengths to deliver value to floating wind and oil and gas projects.&rdquo
In its press release, Mooreast shares that Norway has launched the first part of its inaugural floating wind tender to develop commercial projects of up to 500 MW at the Utsira Nord site and the company is presumably interested in this project. Norway aims to have 30 GW of offshore wind allocated and under development by 2040.
Earlier in July, Mooreast signed an agreement with Norway-based GeoProvider AS to strengthen capabilities in offshore data analysis and enhance its value proposition to the floating offshore renewable energy market.
For the half-year ended Jun 30, Mooreast reported revenue of $25.2 million and net profit of $6.8 million.
Mooreast Holdings appoints Yangzijiang Financial&rsquo s MD Alvin Chew to board
Mooreast Holdings has appointed Alvin Chew as a non-executive non-independent director from Jan 1, 2026.
The group says that this is in line with its acceleration of plans to serve the floating renewable market.
Chew is currently the managing director and head of investments at Yangzijiang Financial Holding, with more than 20 years of experience spanning direct investments, investment banking and corporate development.
Prior to his role at Yangzijiang Financial, Chew held senior leadership roles at EDBI, and spent close to a decade at ACA Investments as managing partner investing in mid-market private equity transactions across Southeast Asia and North Asia.
Chew will also serve as a member of the audit & risk committee upon his appointment to the board.
Mooreast Holdings
On Nov 5, ICH Group co-founder and ICH Asset Management managing director Vincent Toe directly bought 3,615,939 shares of Mooreast Holdings : 1V3 -0.81%, with ICH Capital Pte Ltd also directly acquiring eight million shares. The shares were acquired in a married deal at S$0.087 apiece. This took Toe&rsquo s total interest in Mooreast to above the 5 per cent substantial shareholder threshold to 5.47 per cent.
Toe is an experienced investment executive with over 30 years in investment banking, private equity, fund management and corporate advisory across Asia.
From 2022 to 2024, he served as the inaugural CEO of Yangzijiang Financial Holding, managing assets under management of about S$4.6 billion, and previously held senior roles at UBS, DBS, JPMorgan and worked as a fund manager at GEM.
As reported by The Business Times on Aug 19, Toe views Singapore&rsquo s small and mid-cap segment as a structural growth driver, citing their need for capital, governance support and investor engagement as catalysts for long-term value creation.
Catalist-listed Mooreast provides end-to-end mooring solutions, including design, engineering, fabrication, supply, installation, and commissioning for offshore oil and gas, marine, and renewable energy sectors.
For its H1 FY2025 (ended Jun 30), Mooreast posted a net profit of S$3.5 million, reversing a net loss of S$1.3 million in H1 FY2024, as revenue surged 84 per cent to S$25.2 million on its mooring division performance.
Operating cash flow also saw a positive swing to S$5.3 million, with cash balances rising to S$18.5 million.
The group remains confident in the long-term growth of floating renewable energy and is actively pursuing opportunities in Europe and North Asia.
To accelerate this transformation, it partnered Norway-based GeoProvider in July, leveraging its geotechnical and geophysical data for larger, more complex projects.
In September, Mooreast also signed a strategic cooperation agreement with CCCC Mechanical & Electrical Engineering to jointly develop offshore renewable energy and marine projects, including offshore wind supply-chain solutions.
Mooreast signs agreement with Chinese infrastructure company to develop floating offshore renewable energy projects
Catalist-listed Mooreast Holdings has signed an agreement with a Chinese-state owned infrastructure development company to collaborate on opportunities in the floating offshore renewable energy space.
The strategic cooperation agreement was signed with a subsidiary under China Communications Construction Company (CCCC) Mechanical & Electrical Engineering Co, to explore projects in China and the rest of the world.
Mooreast says that the agreement will tap on the scale of operations, expertise, resources, reputation and network of CCCC M& E within China and on Mooreast&rsquo s technical capabilities, track record and international network in the green and low-carbon development and floating renewable energy sector including offshore wind farms.
In addition, both parties will explore related opportunities to establish an offshore wind-related industry supply chain, and pursue projects involving engineering, production, sub-assembly, transportation and/or installation of mooring and rigging systems, wind turbines, floaters and related components or equipment for floating wind energy, as well as for other offshore and marine projects.
&ldquo The floating offshore wind sector in China is relatively untapped compared to what has been developed onshore. We look forward to deepening our collaboration in the near future to tap domestic and international opportunities,&rdquo says Sim Koon Lam, executive director and deputy chairman of Mooreast.
Collect first
Mooreast earnings increase fourfold to $6.8 mil from several high value orders in 1HFY2025
Mooreast Holdings has reported earnings that have increased more than fourfold to $6.8 million for the 1HFY2025 ended June 30.
Revenue for the 1HFY2025 came in 84% y-o-y higher at $25.2 million, and gross profit increased 115% y-o-y to $10.9 million.
The SGX Catalist-listed mooring specialist says that it completed several high value mooring orders worth $12.5 million during the period under review, which is not expected to recur in the second half of the year.
This increase was partially offset by the Renewable, Rigging & Heavy Lifting, Marine Supplies & Services and Yard divisions, amid a slowdown in market activities.
The group&rsquo s gross profit margin improved to 43% in 1HFY2205. Net cash flow from operating activities came in at $5.3 million for the 1HFY2025.
Cash and bank balances rose to $18.5 million as at end June.
The group announced on July 14 that it partnered with Norway-based GeoProvider AS to accelerate data analysis and support larger, more complicated projects. It also signed an MOU with Korea Ocean Engineering & Consultants Co. to promote collaboration in offshore mooring and seabed anchoring solutions.
Play this today