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Interestingly, the target price is double the current price.
" In their April 20 report, the analysts highlighted that Reclaims Global&rsquo s FY2026 earnings was above their expectation. &ldquo FY2026 net profit of $6.8 million forms 113% of our forecasts. The stronger performance was supported by higher profitability amid better project mix on the back of a strong construction upcycle in Singapore,&rdquo write both Tang and Mo."
https://www.businesstimes.com.sg/companies-markets/uobkhs-alpha-picks-outperform-sti-february-keppel-singtel-added-march
UOBKH maintains &lsquo buy&rsquo on Reclaims Global following better than expected FY2026 results
UOB KayHian analysts Tang Kai Jie and Heidi Mo have maintained their &ldquo buy&rdquo call on Reclaims Global (SGX:NEX) after its recent FY2026 results.
In their April 20 report, the analysts highlighted that Reclaims Global&rsquo s FY2026 earnings was above their expectation. &ldquo FY2026 net profit of $6.8 million forms 113% of our forecasts. The stronger performance was supported by higher profitability amid better project mix on the back of a strong construction upcycle in Singapore,&rdquo write both Tang and Mo.
Gross profit margin rose by 4.0 percentage points y-o-y to 48.3%, compared against FY2025&rsquo s figure of 44.3%. On the other hand, revenue increased by 5% y-o-y to $46.5 million, slightly behind the analysts&rsquo FY2026 forecasts at 96%.
From the analysts&rsquo perspective, Reclaims Global remains in a strong financial position, with net assets rising to $47.2 million at the end of FY2026 and a net cash position of $27.9 million, with no borrowings.
&ldquo It declared a final and special dividend of 1 cent per share, bringing total FY2026 dividends to 2.5 cents per share and a payout ratio of 54%, compared to just 28% back in FY2025. Supported by its strong balance sheet, we expect dividend payouts to remain robust going forward,&rdquo the team predicts.
The UOB KayHian team also points out that while the surge in diesel prices is expected to raise costs for the company, particularly in its logistics and leasing segments, the management indicated around 40%-60% of the increase will be passed on to customers, helping to mitigate the overall impact.
Meanwhile, Singapore&rsquo s ongoing construction upcycle, which the medium term demand is projected to be around $39-$46 billion annually from 2027 to 2030, should translate into sustained demand for Reclaims Global&rsquo s business segment, according to both Tang and Mo.
Some of the key projects ahead include the ongoing and upcoming phases of the Changi Airport Terminal 5 (T5) development, the anticipated award of the main contract for the Marina Bay Sands Integrated Resort expansion, and several other large-scale projects.
&ldquo In 4QFY2025, Reclaims Global secured several contracts, including a $15.5 million contract for the provision of labour and machinery for earthworks and disposal works, as well as a mix of public and private sector contracts valued at $3.1 million, covering demolition, reinstatement, and related construction activities. These contracts, with durations ranging from 1-12 months, are expected to contribute positively to its FY2027 earnings,&rdquo adds the team.
At the same time, both Tang and Mo predict that the recent venture in property-related investments by the company could see potential capital appreciation and rental income, while strengthening the group&rsquo s asset base and providing optionality for future growth.
As such, the UOB KayHian team is maintaining a &ldquo buy&rdquo call with a slightly lower target price of 27 cents, from the previous 28 cents, after lowering their earnings forecast. At 27 cents, it implies a 22.7% upside and the target price is pegged to 12 times FY2027 P/E ratio, which is in line with the company&rsquo s mean historical P/E ratio.
&ldquo We believe Reclaims Global&rsquo s current valuation of 9.7 times FY2027 P/E ratio is undervalued, given its high ROE of around 17%, driven by strong construction industry tailwinds and strong balance sheet with net cash of $27.9 million, which is around 28% of its market capitalisation,&rdquo the team concludes.
As at 11.26am, shares in Reclaims Global are trading flat at 22 cents.
For those interested:
UOB KH -
Reclaims Global (RGL SP)
20/04/2026
FY26: Earnings Beat Along With Strong Balance Sheet
Highlights
- FY26 earnings were better than expected, with net profit of S$6.8m forming 113% of our forecasts, supported by stronger project mix on the back of higher market demand.
- Healthy balance sheet position with net cash of S$27.9m (c.28% of market cap) positions Reclaims for further growth and shareholder returns.
- Reclaims currently trades at around an 11% discount vs peers despite higher ROE and yield. Maintain BUY and a target price of S$0.27.
This one still sleeping....
At 3.1x P/E, Isn' t This Company A Value Play in S' pore Construction Boom?
Singapore' s construction sector is riding a massive wave of public and private demand, leading to construction stocks soaring.
There are two Singapore-based construction companies operating largely in similar niches -- yet their stock performances and valuations are poles apart because while one is listed on SGX, the other is on HKSE (where the Singapore construction theme has not really taken hold among investors).
They are Chuan Holdings (SEHK: 1420) and Reclaims Global (SGX Catalist).
While Reclaims Global also operates in the earthworks niche, it has a wider focus on eco-friendly recycling of construction waste and fleet logistics.
- Steady Growth: For FY2026 (ended January 2026), Reclaims clocked a steady 4.8% revenue increase to S$46.5 million, driven by strong excavation demand.
- Net profit came in at S$6.9 million, including a one-off S$1.2 million gain from disposing of equipment.
- A Pristine Balance Sheet: It is debt-free with a fat S$27.9 million cashpile, contributed in part from a share placement which raised S$7.5 million in net proceeds.
- Shareholder-friendly: A a 1.0 SG cent dividend is proposed for the year, which includes a 0.5 cent special payout.
Sell down leh....
Reclaims Global Reports 23.0% Net Profit Growth in FY2026 and Raises Dividend Payout to 54%
Reclaims Global has announced its financial results for FY2026, delivering a strong performance underpinned by steady demand across its core business segments.
The Group recorded a 4.8% year-on-year increase in revenue to S$46.5 million, while net profit rose 23.0% to S$6.8 million. This growth was driven primarily by stronger contributions from its Excavation Services and Logistics and Leasing segments, reflecting continued execution strength and operational discipline.
The Group&rsquo s balance sheet remains robust, with net assets increasing to S$47.2 million, supported by cash and cash equivalents of S$27.9 million and zero borrowings. Positive operating cash flows of S$3.1 million further underscore its disciplined cash management approach.
In line with its commitment to shareholder returns, Reclaims Global has proposed a final and special dividend of 1.0 cent per share. Together with the interim dividend of 0.5 cent per share, this brings total dividend payout for FY2026 to 54% of net profit attributable to shareholders.
Looking ahead, the Group remains well-positioned to benefit from sustained demand in Singapore&rsquo s construction sector, while advancing its strategy to strengthen its asset base through property investments and drive long-term value creation.
Reclaims Global Posts Strong Net Profit Growth of 23.0% in FY2026
Increased Dividend Payout in FY2026 with Proposed Final and Special Dividends of 1.0 Cent per Share
https://links.sgx.com/1.0.0/corporate-announcements/CDVNWLDR9AXGP5Q8/881286_RGL-Press%20Release_Results%20FY2026.pdf
Last friday already credited.
kye_lin ( Date: 30-Mar-2026 08:29) Posted:
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Bonus shares when credited?
Reclaims Global: Acquisition Completion of Freehold Commercial Property near to Farrer Park MRT
- Acquired for S$38 million, the corner freehold commercial building (Located at 291 Serangoon Road, Singapore 218107) is a 3-minute walk from Farrer Park MRT station and situated near City Square Mall and Farrer Park Hospital.
- The freehold commercial building is 6-storey high with a basement carpark and has a gross floor area of 506.8 square meters.
- The Company plans to redevelop the freehold commercial building to improve building efficiency and increase net lettable area.
- The Company intends to hold this property as an investment and expects to enjoy significant capital appreciation on this property and/or rental income earned from the tenants of the property.
Hopefully it is huge % increase in earnings for the upcoming result.
UOB KH forecast Reclaims Global EPS at 4c for FY 26 (upcoming result). This is pre-bonus.
Reclaims is already making EPS 4.2c for preceding FY 25. AND to add on to it, the company issued a positive profit alert for FY 26.
Result this weekend, early next week.
( as usual, please perform your own DD )
Reclaims is already making EPS 4.2c for preceding FY 25. AND to add on to it, the company issued a positive profit alert for FY 26.
Result this weekend, early next week.
( as usual, please perform your own DD )
Result this weekend, early next week.
superstartup ( Date: 23-Mar-2026 11:07) Posted:
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Slowly add for upcoming result liao.
Today and tomorrow to buy before Ex-date for those interested.
+ positive profit alert, result on end Mar / 1 Apr
+ positive profit alert, result on end Mar / 1 Apr
superstartup ( Date: 16-Mar-2026 22:32) Posted:
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📊 Key Differences
| Feature | 1-for-1 Bonus Issue | 1-for-1 Stock Split |
|---|---|---|
| Definition | Company issues new shares to existing shareholders free of cost, usually from reserves. | Company increases the number of shares by splitting each into smaller units. |
| Mechanics | If you hold 100 shares, you get 100 more (total 200). | If you hold 100 shares, they split into 200 shares. |
| Source of Shares | Issued from company&rsquo s retained earnings or reserves. | No new shares created existing shares are re-denominated. |
| Impact on Share Price | Price usually adjusts downward to reflect increased supply, but reserves reduce. | Price adjusts downward proportionally, but overall market capitalization remains unchanged. |
| Purpose | Reward shareholders, signal strong reserves, boost investor confidence. | Improve liquidity, make shares more affordable, widen retail participation. |
| Perception | Seen as a &ldquo gift&rdquo of extra shares. | Seen as a technical adjustment for accessibility. |
📌 Example
-
Bonus Issue (1-for-1):
If you own 1,000 shares priced at SGD 10 each, you&rsquo ll receive 1,000 free shares. Price may adjust to ~SGD 5, but you now hold 2,000 shares. Value remains SGD 10,000. -
Stock Split (1-for-1):
If you own 1,000 shares priced at SGD 10 each, they split into 2,000 shares priced at ~SGD 5 each. Value remains SGD 10,000.
⚖ ️ Practical Implications
- Investor Value: Neither action changes your total investment value immediately.
- Liquidity: Stock splits often increase trading activity since the lower price attracts more retail investors.
- Confidence Signal: Bonus issues show the company has strong reserves and prefers rewarding shareholders without paying cash dividends.
On SGX company page:
Bonus Issue 1 for 1
Ex Date 19 Mar
Record Date 20 Mar
Payment Date 27 Mar
Bonus Issue 1 for 1
Ex Date 19 Mar
Record Date 20 Mar
Payment Date 27 Mar
more like a stock split.
Joelton ( Date: 14-Mar-2026 11:16) Posted:
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