Announcement • Apr 10
Progen Holdings Ltd, Annual General Meeting, Apr 27, 2026 Progen Holdings Ltd, Annual General Meeting, Apr 27, 2026, at 10:00 Singapore Standard Time. Location: 28 riverside road, 04-01 progen building, singapore 739085, Singapore New Risk • Mar 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$10.5m market cap, or US$8.24m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Revenue is less than US$5m (S$6.2m revenue, or US$4.9m). Reported Earnings • Mar 04
Full year 2025 earnings released: S$0.002 loss per share (vs S$0.002 loss in FY 2024) Full year 2025 results: S$0.002 loss per share (in line with FY 2024). Revenue: S$5.29m (down 8.0% from FY 2024). Net loss: S$693.0k (loss narrowed 3.7% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. New Risk • Mar 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$11.3m market cap, or US$8.92m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Revenue is less than US$5m (S$6.3m revenue, or US$4.9m). New Risk • Dec 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$10.5m market cap, or US$8.21m). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Revenue is less than US$5m (S$6.3m revenue, or US$4.9m). Reported Earnings • Aug 20
First half 2025 earnings released: S$0.002 loss per share (vs S$0.003 loss in 1H 2024) First half 2025 results: S$0.002 loss per share (improved from S$0.003 loss in 1H 2024). Revenue: S$2.08m (up 35% from 1H 2024). Net loss: S$770.0k (loss narrowed 23% from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 10
Full year 2024 earnings released: S$0.002 loss per share (vs S$0.003 loss in FY 2023) Full year 2024 results: S$0.002 loss per share (improved from S$0.003 loss in FY 2023). Revenue: S$5.75m (up 30% from FY 2023). Net loss: S$720.0k (loss narrowed 35% from FY 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Apr 04
Progen Holdings Ltd, Annual General Meeting, Apr 28, 2025 Progen Holdings Ltd, Annual General Meeting, Apr 28, 2025, at 10:00 Singapore Standard Time. Location: 28 riverside road, 04-01 progen building, singapore 739085, Singapore New Risk • Apr 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Singaporean stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$10.2m market cap, or US$7.60m). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Revenue is less than US$5m (S$6.0m revenue, or US$4.5m). Reported Earnings • Feb 28
Full year 2024 earnings released: S$0.002 loss per share (vs S$0.003 loss in FY 2023) Full year 2024 results: S$0.002 loss per share (improved from S$0.003 loss in FY 2023). Revenue: S$6.16m (up 40% from FY 2023). Net loss: S$720.0k (loss narrowed 35% from FY 2023). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Feb 24
Progen Holdings Ltd to Report Fiscal Year 2024 Results on Mar 01, 2025 Progen Holdings Ltd announced that they will report fiscal year 2024 results at 5:00 PM, Singapore Standard Time on Mar 01, 2025 New Risk • Nov 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.9m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$12.9m market cap, or US$9.79m). Minor Risks Share price has been volatile over the past 3 months (9.1% average weekly change). Revenue is less than US$5m (S$3.2m revenue, or US$2.5m). New Risk • Jul 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Singaporean stocks, typically moving 15% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (15% average weekly change). Minor Risks Revenue is less than US$5m (S$4.4m revenue, or US$3.3m). Market cap is less than US$100m (S$14.8m market cap, or US$11.0m). Buy Or Sell Opportunity • Jul 25
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to S$0.032. The fair value is estimated to be S$0.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jun 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.9m (US$9.52m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (S$12.9m market cap, or US$9.52m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (S$4.4m revenue, or US$3.3m). Announcement • Apr 09
Progen Holdings Ltd, Annual General Meeting, Apr 25, 2024 Progen Holdings Ltd, Annual General Meeting, Apr 25, 2024, at 10:00 Singapore Standard Time. Location: 28 Riverside Road, #04-01 Progen Building, Singapore Singapore Agenda: To consider and receive and adopt the Directors' Statement and Audited Financial Statements of the Company for the financial year ended 31 December 2023 together with the Auditor's Report thereon; to consider and re-elect Mr. Chee Wai Pong, a Director of the Company who is retiring pursuant to Article 109 of the Constitution of the Company; to consider and re-elect the following Directors of the Company who are retiring pursuant to Article 119 of the Constitution of the Company; to consider and approve the payment of S$118,033 as Directors' fees for the financial year ended 31 December 2023 (FY2022: S$139,840); and to discuss other matters. Reported Earnings • Mar 01
Full year 2023 earnings released: S$0.003 loss per share (vs S$0.004 profit in FY 2022) Full year 2023 results: S$0.003 loss per share (down from S$0.004 profit in FY 2022). Revenue: S$4.95m (down 5.4% from FY 2022). Net loss: S$1.11m (down 168% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Feb 27
Progen Holdings Ltd to Report Second Half, 2023 Results on Feb 29, 2024 Progen Holdings Ltd announced that they will report second half, 2023 results on Feb 29, 2024 New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (9.5% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (S$6.3m revenue, or US$4.7m). Market cap is less than US$100m (S$15.6m market cap, or US$11.6m). Announcement • Aug 26
Progen Holdings Ltd Announces Changes to Board and Board Committees The Board of Directors of Progen Holdings Ltd. announced the following changes to take effect from 25 August 2023: the appointment of Mr. Chua Thian Huat ("Mr. Chua") as Independent Director of the Company and a member of the Audit and Risk and Remuneration Committees; the re-designation of Mr. Hu Weisheng, an Independent Director of the Company, as the Chairman of the Audit and Risk and Remuneration Committees; the re-designation of Mr. Lee Ee @ Lee Eng, an Executive and Managing Director of the Company, as the Chairman of Investment Review Committee; and the re-designation of Mr. Chee Wai Pong, an Independent Director of the Company, as the Chairman of the Board of Directors and his appointment as a member of the Investment Review Committee. Following the above changes, the composition of the Board and Board Committees of the Company shall be as follows with effect from 25 August 2023: Board of directors: Mr. Chee Wai Pong- Independent Director and Non-Executive Chairman; Mr. Lee Ee @ Lee Eng- Executive and Managing Director; Mr. Francis Lau Choo Yew- Non-Independent and Non-Executive Director; Mr. Hu Weisheng- Independent and Non-Executive Director; Mr. Chua Thian Huat- Independent and Non-Executive Director. Audit And Risk Committee: Mr. Hu Weisheng- Chairman; Mr. Chee Wai Pong and Mr. Chua Thian Huat as member; Nominating Committee: Mr. Chee Wai Pong- Chairman; Mr. Hu Weisheng and Mr. Lee Ee @ Lee Eng as member; Remuneration Committee: Mr. Hu Weisheng- Chairman; Mr. Chee Wai Pong and Mr. Chua Thian Huat as member. Investment Review Committee: Mr. Lee Ee @ Lee Eng- Chairman; Mr. Hu Weisheng and Mr. Chee Wai Pong as members. After more than 50 years of experience in the Mechanical & Electrical field of the Built Environment Industry, Mr. Chua has built up a vast network that is valuable to the Group. As an adjudicator accredited by the Construction Adjudicator Accreditation Committee of Singapore Mediation Centre, Mr. Chua has in-depth knowledge and experience in resolving payment disputes that arise in the Built Environment Industry under the Building and Construction Industry Security of Payment Act (Cap 30B), which is also very relevant to the Groups business. Professional Qualifications: Bachelor of Engineering (Electrical 1966) University of Malaya Registered Professional Engineer Singapore Registered Professional Engineer Malaysia Fellow, Institution of Engineers Singapore Member, Institution of Engineers Malaysia Principal Mediator Singapore Mediation Centre Adjudicator Singapore Mediation Centre. Working Experience: 2021 - Present - Retired 2006 - 2020 - Consultant, Rankine & Hill (S) Pte Ltd. Reported Earnings • Aug 17
First half 2023 earnings released: EPS: S$0 (vs S$0.001 loss in 1H 2022) First half 2023 results: EPS: S$0 (improved from S$0.001 loss in 1H 2022). Revenue: S$2.64m (up 73% from 1H 2022). Net income: S$11.0k (up S$542.0k from 1H 2022). Profit margin: 0.4% (up from net loss in 1H 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Apr 19
Founder recently bought S$87k worth of stock On the 17th of April, Ee Lee bought around 2m shares on-market at roughly S$0.048 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ee's only on-market trade for the last 12 months. Reported Earnings • Apr 15
Full year 2022 earnings released: EPS: S$0.004 (vs S$0.007 loss in FY 2021) Full year 2022 results: EPS: S$0.004 (up from S$0.007 loss in FY 2021). Revenue: S$5.24m (up 33% from FY 2021). Net income: S$1.63m (up S$4.31m from FY 2021). Profit margin: 31% (up from net loss in FY 2021). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 26
Full year 2022 earnings released: EPS: S$0.004 (vs S$0.007 loss in FY 2021) Full year 2022 results: EPS: S$0.004 (up from S$0.007 loss in FY 2021). Revenue: S$7.53m (up 91% from FY 2021). Net income: S$1.65m (up S$4.33m from FY 2021). Profit margin: 22% (up from net loss in FY 2021). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Non-Independent Non-Executive Director Francis Lau was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 14
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up S$373.0k from 1H 2021). Profit margin: (up from net loss in 1H 2021). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Non-Independent Non-Executive Director Francis Lau was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 17
Full year 2021 earnings released: S$0.007 loss per share (vs S$0.008 loss in FY 2020) Full year 2021 results: S$0.007 loss per share (up from S$0.008 loss in FY 2020). Revenue: S$3.95m (up 31% from FY 2020). Net loss: S$2.68m (loss narrowed 8.8% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Announcement • Apr 14
Progen Holdings Ltd, Annual General Meeting, Apr 28, 2022 Progen Holdings Ltd, Annual General Meeting, Apr 28, 2022, at 10:00 Singapore Standard Time. Agenda: To receive and adopt the Directors' Statement and the Audited Financial Statements of the Company for the financial year ended 31 December 2021 together with the Auditors' Report thereon; to consider re-elect the Directors of the Company retiring pursuant to Article 109 the Constitution of the Company: to consider approval of the payment of S$139,840 as Directors' fees for the financial year ended 31 December 2021; to consider re-appointing Messrs Ernst & Young LLP as the Auditors of the Company and to authorize the Directors of the Company to fix their remuneration; and to consider similar matters. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: S$0.69 (up from S$0.008 loss in FY 2020). Revenue: S$4.38m (up 46% from FY 2020). Net loss: S$2.68m (loss narrowed 8.8% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 182% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 28
Full year 2020 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: S$3.72m (down 61% from FY 2019). Net loss: S$2.93m (loss widened 30% from FY 2019). 
