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Salt Investments widens loss on impairment but flags operational improvements
Salt Investments has reported revenue of $14.69 million for the year ended March, an increase of 589% y-o-y, due to contributions from newly acquired businesses.
Prior to the acquisitions of lubricant distributor TT Oil and Prosper Excel Engineering, the company had barely any functioning business activities.
Gross profit following the acquisitions, as a result, increased by 814% to $1.98 million.
However, because of impairment made on the acquired businesses to factor in more conservative value-in-use assumptions, Salt Investments' net loss widened from $6 million to $13.38 million.
According to the company, it took into account developments such as a higher risk profile arising from supplier concentration and geopolitical exposure, no thanks to the escalation of the conflict between Iran and US, plus disruptions to Middle East shipping routes as a result.
" The impairments should not, of themselves, be read as a determination that the underlying operating businesses are no longer viable," the company stresses.
For the current FY2027, Salt Investments does not expect significant non-cash impairment-related accounting adjustments and " certainly not at a level comparable to those recognised for FY2026" and its results henceforth better reflect the true core earnings of its operations.
Dennis Goh, the company' s executive director and CEO, says that these acquisitions have resulted in a less favourable immediate impact on the company' s financial performance than originally anticipated, primarily due to non-cash accounting adjustments.
Nonetheless, he is confident that " these strategically sound businesses and the crucial network of maritime veterans and trusted ecosystem partners they bring with them are important levers the group needs to implement its ambitious growth plans."
" Notwithstanding the accounting adjustments, both Prosper Excel Engineering and TT Oil have continued and are expected to continue making significant contributions to the group' s revenue and gross profit, strengthening the group' s operating scale and market presence," says Goh.
Salt Investments closed at 0.3 cents on May 29.
Salt Investments widens loss on impairment but flags operational improvements
Salt Investments has reported revenue of $14.69 million for the year ended March, an increase of 589% y-o-y, due to contributions from newly acquired businesses.
Prior to the acquisitions of lubricant distributor TT Oil and Prosper Excel Engineering, the company had barely any functioning business activities.
Gross profit following the acquisitions, as a result, increased by 814% to $1.98 million.
However, because of impairment made on the acquired businesses to factor in more conservative value-in-use assumptions, Salt Investments' net loss widened from $6 million to $13.38 million.
According to the company, it took into account developments such as a higher risk profile arising from supplier concentration and geopolitical exposure, no thanks to the escalation of the conflict between Iran and US, plus disruptions to Middle East shipping routes as a result.
" The impairments should not, of themselves, be read as a determination that the underlying operating businesses are no longer viable," the company stresses.
For the current FY2027, Salt Investments does not expect significant non-cash impairment-related accounting adjustments and " certainly not at a level comparable to those recognised for FY2026" and its results henceforth better reflect the true core earnings of its operations.
Dennis Goh, the company' s executive director and CEO, says that these acquisitions have resulted in a less favourable immediate impact on the company' s financial performance than originally anticipated, primarily due to non-cash accounting adjustments.
Nonetheless, he is confident that " these strategically sound businesses and the crucial network of maritime veterans and trusted ecosystem partners they bring with them are important levers the group needs to implement its ambitious growth plans."
" Notwithstanding the accounting adjustments, both Prosper Excel Engineering and TT Oil have continued and are expected to continue making significant contributions to the group' s revenue and gross profit, strengthening the group' s operating scale and market presence," says Goh.
Salt Investments closed at 0.3 cents on May 29.
Salt Investments raised $4.8 mil from investors including Lion Global, Ginko-AGT
Salt Investments has raised some $4.8 million placing out new shares at 0.275 cent to investors including Ginko-AGT Global Growth Fund, Lion Global Investors and Value Partners Hong Kong, as well as certain unnamed individuals.
Salt Investments plans to tap this additional capital to speed up its transformation into a scalable, integrated marine and infrastructure platform.
Specifically, the new capital will be used to support the growth in the company' s core business in bunkering and trading, oil waste recycling, and oil lubricants.
The placement of nearly 1.75 billion new shares was managed by Evolve Capital Advisory and Maybank Securities was the sub-placement agent.
These new placement shares have increased the company' s share base by 6.71% to more than 26 billion shares.
" This placement represents a pivotal step in Salt&rsquo s strategic evolution," says executive director and CEO Dennis Goh.
" By securing growth capital today, we are building the foundation for stronger operational scale, enhanced earnings quality, and sustainable shareholder returns tomorrow," he says.
" Recent geopolitical developments have underscored the resilient fundamentals of the oil and gas industry, as well as the structural gaps that remain.
" At Salt, we are advancing our vision to address these gaps and capture the significant growth opportunities presented by the global macroeconomic situation today," says Goh.
Big guns coming on board
SmallSmall ( Date: 11-May-2026 09:02) Posted:
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Salt Investments Completes S$4.8 Million Private Placement for Business Expansion
Placement attracted institutional investors
Ginko-AGT Global Growth Fund,
Lion Global Investors Ltd (as investment manager for and on behalf of its clients) and
Value Partners Hong Kong Limited Net proceeds strengthen the balance sheet and will be used to fund high-return growth initiatives to enhance long-term shareholder value and accelerate Salt&rsquo s transformation into a scalable, integrated marine and infrastructure platform
Placement attracted institutional investors
Ginko-AGT Global Growth Fund,
Lion Global Investors Ltd (as investment manager for and on behalf of its clients) and
Value Partners Hong Kong Limited Net proceeds strengthen the balance sheet and will be used to fund high-return growth initiatives to enhance long-term shareholder value and accelerate Salt&rsquo s transformation into a scalable, integrated marine and infrastructure platform
Closed mine at 4...seems not much fire
Big congrates.
makdatok ( Date: 04-May-2026 14:07) Posted:
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I got at 3
Boss u have this too?
makdatok ( Date: 04-May-2026 10:07) Posted:
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Wahh..can go up 200%?..heh
DBS (29) big buyyer (300m) @ $0.003 and UOBKH (05) 600m @ $0.004.
kye_lin ( Date: 01-May-2026 10:36) Posted:
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JV with Mencast.
Placement at S$0.00275.
Monday cheong?
Halted....
Salt...how?. $0.003, how come boss owner did push?.
Shifted some fund to Salt Investments (Jasper) , this one back by prominace investor Mr Koh , Mr Terence Azuere Capital and new CEO Mr Dennis
Salt Investments to raise $7 million in another placement round at 0.25 cents each
Salt Investments has raised $7 million from a group of investors by placing out 2.8 billion new shares at 0.25 cents each, a 16.7% discount off its last traded price of 0.3 cents on May 30.
The company, previously called Jasper Investments, is in a fund-raising mode, as it seeks to venture into new businesses under new CEO Dennis Goh.
Investors who have come on board thus far include former SGX chairman Koh Boon Hwee and Terence Wong of Azure Capital.
On Jan 1, the company announced it was looking for alternative funding after two investors who were supposed to take part in an earlier placement round did not pay up in time.
The two individuals were supposed to invest a total of $4 million.
In a separate announcement, Salt Investments says it has completed the acquisition of a 60% stake in marine lubricant supplier TT Oil (Singapore) for $6 million.
Salt Investments looking for alternative funding after two investors missed placement deadline
Salt Investments is looking for alternative funding after two investors who were supposed to take part in a placement did not pay up in time.
According to the company on Jan 1, it had reminded Hin Chin Qui and Yip Kean Mun to transfer amounts totalling $4 million by Dec 30 but did not hear from them.
SGX requires the placement to be completed by Dec 31. As such, Salt Investments will regard Hin and Yip as having repudiated their respective subscription agreements and will consider claiming damages.
However, other investors who are part of this fund-raising had transferred a total of $6.5 million as agreed. They are Wong Shun Lee, Quek Hong Sheng Roy and ROQ Investments. Some 4.3 billion new shares are thus issued and ready for trading on Jan 6.
Salt Investments used to be called Jasper Investments FQ7 . Under new CEO Dennis Goh, the company is acquiring operating assets to capture new growth in the offshore and marine industry which is now seeing an upswing.
On Dec 17, Salt Investments announced it is in talks to buy a majority stake in marine lubricant supplier TT Oil (Singapore) from Poly Million Group, which is controlled by Wong, one of the new investors.
Other backers of the company include Koh Boon Hwee, former chairman of companies such as SIA and Singtel, and fund manager Terence Wong of Azure Capital.
Salt Investments in talks to acquire marine lubricant supplier TT Oil
Salt Investments is exploring the acquisition of a majority stake in marine lubricant supplier TT Oil (Singapore), citing " encouraging improvements and trends" in the offshore and marine market.
The company, formerly known as Jasper Investments FQ7 , has on Dec 17 signed an MOU with Poly Million Group, which controls TT Oil, to negotiate a deal on an exclusive basis.
Poly Million Group is controlled by one Wong Shun Lee, who is part of a group of investors that are in the process of helping to recapitalise Salt Investments by subscribing for new shares.
Other investors include Koh Boon Hwee, former chairman of companies such as SIA and Singtel, and fund manager Terence Wong, a long-time business partner of Dennis Goh, CEO of Salt Investments.
According to Salt Investments in its Dec 19 announcement, the potential acquisition of TT Oil will help bring together the " competitive strengths and combined business and funding networks" of both parties.
Separately, TT Oil has earlier agreed to charter a vessel from Prosper Excel Engineering, to replace its existing charter with another ship owner.
Salt Investments, as part of its ongoing bid to grow the offshore and marine business, has recently acquired Prosper Excel.
The agreement between TT Oil and Prosper Excel has yet to be finalised.
Went Up to closed at 0.005, up .002 or up 66.7% Tues-17/12/2024.
teeth53 ( Date: 17-Dec-2024 17:03) Posted:
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Salt fish become real fish ..:)).
MrBear12 ( Date: 19-Nov-2024 13:25) Posted:
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