Reported Earnings • May 28
Full year 2026 earnings released: EPS: S$0.01 (vs S$0.01 in FY 2025) Full year 2026 results: EPS: S$0.01 (in line with FY 2025). Revenue: S$89.2m (down 3.0% from FY 2025). Net income: S$3.01m (down 2.9% from FY 2025). Profit margin: 3.4% (in line with FY 2025). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Mar 02
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 8.3% 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: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (S$36.5m market cap, or US$28.7m). New Risk • Nov 19
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 16% 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 (16% average weekly change). Minor Risk Market cap is less than US$100m (S$30.1m market cap, or US$23.2m). Reported Earnings • Nov 18
First half 2026 earnings released: EPS: S$0.005 (vs S$0.004 in 1H 2025) First half 2026 results: EPS: S$0.005 (up from S$0.004 in 1H 2025). Revenue: S$45.2m (up 2.0% from 1H 2025). Net income: S$1.68m (up 21% from 1H 2025). Profit margin: 3.7% (up from 3.1% in 1H 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Jul 10
Full year 2025 earnings released: EPS: S$0.01 (vs S$0.013 in FY 2024) Full year 2025 results: EPS: S$0.01 (down from S$0.013 in FY 2024). Revenue: S$91.9m (flat on FY 2024). Net income: S$3.10m (down 25% from FY 2024). Profit margin: 3.4% (down from 4.5% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Jul 09
Hiap Tong Corporation Ltd. Announces Retirement of Tito Shane Isaac as Lead Independent Director, Chairman of the Nominating Committee as Well as Member of the Audit Committee and Remuneration Committee Hiap Tong Corporation Ltd. announced Mr. Tito Shane Isaac ("Mr. Isaac") is due to retire as Director pursuant to Regulation 95 of the Company's Constitution at the forthcoming annual general meeting ("AGM") to be held on 29 July 2025. As part of the Board renewal process, Mr. Isaac has expressed his intention to retire from the Board and not seek for re-election at the forthcoming AGM. Upon Mr. Isaac's retirement, he will also relinquish his positions as Chairman of the Nominating Committee, member of the Audit Committee and Remuneration Committee. The Board would like to express its gratitude towards Mr. Isaac for his valuable and significant contributions to the Company during his tenure of service. Other Directorships Past: 1) Shanaya Ltd. 2) Agrilever Pte Ltd. 3) New Wave Holdings Ltd. Other Directorships Present: International Institute of Mediators (Singapore) Limited. Declared Dividend • Jul 09
Dividend of S$0.001 announced Dividend of S$0.001 is the same as last year. Ex-date: 6th August 2025 Payment date: 18th August 2025 Dividend yield will be 1.0%, which is lower than the industry average of 5.1%. Payout Ratios Payout ratio: 10%. Cash payout ratio: 2%. Announcement • Jul 07
Hiap Tong Corporation Ltd., Annual General Meeting, Jul 29, 2025 Hiap Tong Corporation Ltd., Annual General Meeting, Jul 29, 2025, at 15:00 Singapore Standard Time. Location: safra choa chu kang, orchid room, 28 choa chu kang drive, singapore 689964, Singapore Reported Earnings • May 29
Full year 2025 earnings released: EPS: S$0.01 (vs S$0.013 in FY 2024) Full year 2025 results: EPS: S$0.01 (down from S$0.013 in FY 2024). Revenue: S$91.9m (flat on FY 2024). Net income: S$3.10m (down 25% from FY 2024). Profit margin: 3.4% (down from 4.5% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Aug 22
Hiap Tong Corporation Ltd. Approves First and Final (One-Tier Tax Exempt) Dividend for the Financial Year Ended 31 March 2024, Payable on 27 August 2024 Hiap Tong Corporation Ltd. announced that the first and final one-tier tax-exempt dividend of 0.10 Singapore cent per ordinary share for the financial year ended 31 March 2024 be and is hereby approved and that it be paid on 27 August 2024. Announcement • Jul 26
Hiap Tong Corporation Ltd. Appoints Yee Chia Hsing as Non-Executive Independent Director, the Chairman of the Audit Committee, and A Member of the Nominating Committee and the Remuneration Committee Hiap Tong Corporation Ltd. announced Appointment of Non-Executive Independent Director. The Board of Directors of the Company, having considered among others, the recommendation of the NC and the qualifications, work experience and competencies of Mr. Yee Chia Hsing, is of the view that Mr. Yee is suitable for appointment as a Non-Executive Independent Director, the Chairman of the Audit Committee, and a Member of the Nominating Committee and the Remuneration Committee of the Company. Mr. Yee's appointment was approved at the AGM held on 25 July 2024. Working Experience; 1. Datapulse Technology Limited - Executive Director /Chief Executive Officer (August 2022 to January 2024) 2. iX Biopharma Ltd. and General Manager of Entity Health, its nutraceutical business - Director of Corporate Affairs (March 2021 to July 2022) 3. CIMB Bank (Singapore Branch) - Head of Catalist, Managing Director (January 2011 to February 2021). Other DirectorShips Past; . Datapulse Technology Limited - Executive Director/CEO 2. Ezion Holdings Limited - Independent Director 3. First Sponsor Group Limited - Lead Independent Director. Other DirectorShips Present; 1. Beng Kuang Marine Limited - Independent Director 2. Union Gas Holdings Limited - Independent Director 3. Yangzijiang Shipbuilding (Holdings) Ltd. - Independent Director 4. Zhongmin Baihui Retail Group Ltd. - Independent Director. Director Experience Details; Mr. Yee has been /is presently an Independent Director of the following listed companies: 1. Datapulse Technology Limited 2. Ezion Holdings Limited 3. First Sponsor Group Limited 4. Beng Kuang Marine Limited 5. Union Gas Holdings Limited 6. Yangzijiang Shipbuilding (Holdings) Ltd. 7. Zhongmin Baihui Retail Group Ltd. Professional Qualifications; Bachelor of Accountancy Degree (First Class Honours) from Nanyang Technological University. Reported Earnings • Jul 08
Full year 2024 earnings released: EPS: S$0.013 (vs S$0.045 in FY 2023) Full year 2024 results: EPS: S$0.013 (down from S$0.045 in FY 2023). Revenue: S$92.3m (down 6.7% from FY 2023). Net income: S$4.13m (down 70% from FY 2023). Profit margin: 4.5% (down from 14% in FY 2023). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 05
Dividend of S$0.001 announced Shareholders will receive a dividend of S$0.001. Ex-date: 2nd August 2024 Payment date: 27th August 2024 Dividend yield will be 1.1%, which is lower than the industry average of 5.1%. Payout Ratios Payout ratio: 8%. Cash payout ratio: 2%. Announcement • Jul 04
Hiap Tong Corporation Ltd., Annual General Meeting, Jul 25, 2024 Hiap Tong Corporation Ltd., Annual General Meeting, Jul 25, 2024, at 15:00 Singapore Standard Time. Location: 11 slim barracks rise, alumni house, lecture theatre 301 @level 3, singapore 138664, Singapore Announcement • Jul 03
Hiap Tong Corporation Ltd. Announces Retirement of Tay Seo Long as Chairman of the Audit Committee and Member of the Nominating Committee and Remuneration Committee As part of the progressive Board's renewal process, Mr. Tay Seo Long has expressed his intention to retire from the Board of Hiap Tong Corporation Ltd. and not seek for re-election at the Company's forthcoming Annual General Meeting to be held on 25 July 2024. Upon Mr. Tay's retirement, he will also relinquish his positions as Chairman of the Audit Committee and member of the Nominating Committee and Remuneration Committee. Buy Or Sell Opportunity • May 30
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 10.0% to S$0.099. The fair value is estimated to be S$0.081, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.9% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Market cap is less than US$100m (S$27.9m market cap, or US$20.7m). Buy Or Sell Opportunity • Apr 12
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 8.7% to S$0.10. The fair value is estimated to be S$0.081, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (3.0% increase in shares outstanding). Market cap is less than US$100m (S$39.4m market cap, or US$28.8m). Announcement • Jul 28
Hiap Tong Corporation Ltd. Approves First and Final Tax Exempt (One-Tier) Dividend for the Financial Year Ended 31 March 2023 Hiap Tong Corporation Ltd. at its Annual General Meeting held on July 27, 2023, approved declaration of a first and final tax exempt (one-tier) dividend of 0.5 Singapore cents per ordinary share for the financial year ended 31 March 2023. Announcement • Jul 23
Hiap Tong Corporation Ltd. Proposes First and Final Tax Exempt (One-Tier) Dividend for the Financial Year Ended 31 March 2023 Hiap Tong Corporation Ltd. proposed first and final tax exempt (one-tier) dividend of 0.5 Singapore cents per ordinary share for the financial year ended 31 March 2023 at its Annual General Meeting to be held on 27 July 2023. Reported Earnings • Jul 08
Full year 2023 earnings released: EPS: S$0.045 (vs S$0.005 in FY 2022) Full year 2023 results: EPS: S$0.045 (up from S$0.005 in FY 2022). Revenue: S$98.8m (up 45% from FY 2022). Net income: S$13.8m (up S$12.2m from FY 2022). Profit margin: 14% (up from 2.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Jul 07
Hiap Tong Corporation Ltd., Annual General Meeting, Jul 27, 2023 Hiap Tong Corporation Ltd., Annual General Meeting, Jul 27, 2023, at 15:00 Singapore Standard Time. Location: Devan Nair Institute for Employment and Employability 80 Jurong East Street 21, Level 1 Hall 3 Singapore Singapore Agenda: To consider adoption of Directors' Statement and Audited Financial Statements for the financial year ended 31 March 2023 together with the Auditors' Report thereon; to consider declaration of a first and final tax exempt (one tier) dividend of 0.5 Singapore cents per ordinary share for the financial year ended 31 March 2023; to consider approval of Directors' Fees of SGD 110,000 for the financial year ended 31 March 2023; and to consider other matters. Announcement • Jul 01
Hiap Tong Corporation Ltd. Announces Re-Designation of Executive Director to Executive Vice Chairman The Board of Directors of Hiap Tong Corporation Ltd. (the "Company", together with its subsidiaries, collectively, the "Group") wishes to announce that Mr. Ong Boon Tat, Alvin ("Mr. Alvin Ong"), the Executive Director of the Company, shall be re-designated as Executive Vice Chairman of the Company with effect from 3 July 2023. The Board of Directors, after considering the recommendation of the Nominating Committee and having reviewed and considered the qualifications, work experience and performance, and suitability of Mr. Alvin Ong, is of the view that Mr. Alvin Ong possesses the requisite experience and capabilities to assume the responsibilities of an Executive Vice Chairman of the Company and that he will continue to contribute positively to the Group. Accordingly, and in line with the Group's succession planning, the Board of Directors approved the re-designation of Mr. Alvin Ong from his existing role of Executive Director to the position of Executive Vice Chairman. Mr. Alvin Ong will continue to assist the Executive Chairman/Chief Executive Officer in the day-to-day management of the Group, as well as managing the Group's strategic planning functions. Mr. Alvin Ong abstained from the deliberation of the Board and Nominating Committee pertaining to his re-designation. Following the re-designation of Mr. Alvin Ong, the composition of the Board with effect from 3 July 2023 shall be as follows: Board of Directors: Mr. Ong Teck Meng: (Executive Chairman and Chief Executive Officer); Mr. Ong Boon Tat Alvin: (Executive Vice Chairman); Mr. Ong Lim San: (Executive Director); Mr. Tito Shane Isaac: (Lead Independent Director); Mr. Choy Bing Choong: (Independent Director); Mr. Tay Seo Long: (Independent Director). Reported Earnings • May 27
Full year 2023 earnings released: EPS: S$0.045 (vs S$0.005 in FY 2022) Full year 2023 results: EPS: S$0.045 (up from S$0.005 in FY 2022). Revenue: S$98.8m (up 45% from FY 2022). Net income: S$13.8m (up S$12.2m from FY 2022). Profit margin: 14% (up from 2.4% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Announcement • May 20
Hiap Tong Corporation Ltd. Provides Earnings Guidance for the Year Ended March 31, 2023 Hiap Tong Corporation Ltd. provided earnings guidance for the year ended March 31, 2023. Based on a preliminary assessment of the Group's unaudited financial results for the full year ended 31 March 2023 ("FY2023"), the Group expects to record a significantly higher net profit after tax for FY2023 as compared to the preceding financial year ended 31 March 2022 ("FY2022"). The higher net profit after tax for FY2023 was mainly attributable to new construction projects under the lifting and haulage segment as well as the full resumption of business operations from the COVID-19 situation in Singapore and Malaysia during the year. Board Change • Feb 22
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. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Benjamin Choy was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. 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. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Benjamin Choy was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 07
Full year 2022 earnings released: EPS: S$0.005 (vs S$0.001 loss in FY 2021) Full year 2022 results: EPS: S$0.005 (up from S$0.001 loss in FY 2021). Revenue: S$68.1m (up 25% from FY 2021). Net income: S$1.61m (up S$1.94m from FY 2021). Profit margin: 2.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 06
Hiap Tong Corporation Ltd., Annual General Meeting, Jul 28, 2022 Hiap Tong Corporation Ltd., Annual General Meeting, Jul 28, 2022, at 15:00 Singapore Standard Time. Agenda: To consider the adoption of Directors' Statement and Audited Financial Statements for the financial year ended 31 March 2022 and the Auditors' Report thereon; to consider Approval of Directors' Fees for the financial year ended 31 March 2022; to re-elect the Directors; to re-appoint RSM Chio Lim LLP, Public Accountants and Chartered Accountants, Singapore and to authorize the Directors to fix the Auditors' remuneration; and to consider other matters. Reported Earnings • May 29
Full year 2022 earnings released: EPS: S$0.005 (vs S$0.001 loss in FY 2021) Full year 2022 results: EPS: S$0.005 (up from S$0.001 loss in FY 2021). Revenue: S$68.1m (up 25% from FY 2021). Net income: S$1.61m (up S$1.94m from FY 2021). Profit margin: 2.4% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • May 10
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. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Benjamin Choy was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 02
Hiap Tong Corporation Ltd. Announces Executive Changes Hiap Tong Corporation Ltd. announced the appointment of Ms. Lim Guek Hong as Company Secretary in place of Ms. Lo Swee Oi who has resigned with effect from 29 April 2022. Following the aforesaid change, the Company Secretaries of the Company are Mr. Loh Boon Wah and Ms Lim Guek Hong. Board Change • Feb 10
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. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Benjamin Choy was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 09
Full year 2021 earnings released: S$0.001 loss per share (vs S$0.026 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: S$54.3m (down 7.5% from FY 2020). Net loss: S$335.0k (loss narrowed 96% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 07
Founder recently bought S$519k worth of stock On the 5th of July, Teck Meng Ong bought around 8m shares on-market at roughly S$0.066 per share. This was the largest purchase by an insider in the last 3 months. This was Teck Meng's only on-market trade for the last 12 months. Reported Earnings • May 30
Full year 2021 earnings released The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: S$54.3m (down 7.5% from FY 2020). Net loss: S$335.0k (loss narrowed 96% from FY 2020).