Reported Earnings • Apr 18
Full year 2025 earnings released: EPS: S$0.028 (vs S$0.019 in FY 2024) Full year 2025 results: EPS: S$0.028 (up from S$0.019 in FY 2024). Revenue: S$12.6m (up 7.4% from FY 2024). Net income: S$1.26m (up 48% from FY 2024). Profit margin: 10.0% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. New Risk • Mar 08
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 3.6% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (S$6.17m market cap, or US$4.82m). Minor Risk Short dividend paying track record (less than a year of continuous dividend payments). Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: S$0.028 (vs S$0.019 in FY 2024) Full year 2025 results: EPS: S$0.028 (up from S$0.019 in FY 2024). Revenue: S$12.6m (up 7.4% from FY 2024). Net income: S$1.26m (up 48% from FY 2024). Profit margin: 10.0% (up from 7.3% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 16% per year. Reported Earnings • Aug 16
First half 2025 earnings released: EPS: S$0.01 (vs S$0.006 in 1H 2024) First half 2025 results: EPS: S$0.01 (up from S$0.006 in 1H 2024). Revenue: S$5.56m (up 9.0% from 1H 2024). Net income: S$437.0k (up 60% from 1H 2024). Profit margin: 7.9% (up from 5.4% in 1H 2024). The increase in margin was driven by higher revenue. Reported Earnings • Apr 17
Full year 2024 earnings released: EPS: S$0.019 (vs S$0.009 in FY 2023) Full year 2024 results: EPS: S$0.019 (up from S$0.009 in FY 2023). Revenue: S$11.8m (up 7.4% from FY 2023). Net income: S$853.6k (up 118% from FY 2023). Profit margin: 7.3% (up from 3.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Apr 11
TSH Corporation Limited, Annual General Meeting, Apr 29, 2025 TSH Corporation Limited, Annual General Meeting, Apr 29, 2025, at 15:00 Singapore Standard Time. Location: copthorne king`s hotel singapore, marquis room at level 2, 403 havelock road, singapore 169632, Singapore Announcement • Jul 18
Tsh Corporation Limited Approves the Appointment of Chua Khing Seng as Non-Executive Independent Director, Chairman of Nominating Committee and Member of Audit Committee and Remuneration Committee, Effective from July 18, 2024 TSH Corporation Limited approved the appointment of Chua Khing Seng as Non-Executive Independent Director, Chairman of Nominating Committee and member of Audit Committee and Remuneration Committee. The Board of Directors ("Board") of the Company has considered the recommendation of the Nominating Committee, and has reviewed the qualifications, working experience, expertise and independence of Mr. Chua Khing Seng, and is of the view that Mr. Chua Khing Seng will be able to contribute towards the core competences of the Board. Accordingly, the Board has approved the appointment of Mr. Chua Khing Seng as a Non-Executive Independent Director of the Company. Working Experience Yamato Asia Pte Ltd. - Executive Director (2018 to 2021) Chairman (2018 to 2019) Managing Director and Group CEO (2014 to 2017) Yamato Holdings Co. Ltd. - Executive Officer (2014 to 2019). Directorships: Yamato Asia Pte Ltd. Guangxi Overland Total Logistics Co. Ltd. Shenzhen Jiedi Supply Chain Management Co. Ltd. OTL Asia Sdn Bhd. GDEX Bhd. Overland Total Logistics Services (M) Sdn. Bhd. Other principal commitments: Please refer to "Working experience and occupation(s) during the past 10 years" section above. Chua Khing Seng was a Non-Executive Independent Director of Giken Sakata (S) Limited, a SGX-listed issuer, from 20 April 2009 to 30 November 2013. The Company will arrange for Mr. Chua Khing Seng to complete the mandatory sustainability course within 1 year from his appointment date. Professional Qualifications Bachelor of Engineering (Mechanical Engineering), Tokyo Institute of Technology. Appointment Date July 18, 2024. Board Change • May 23
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. 2 experienced directors. 1 highly experienced director. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 23
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 13
TSH Corporation Limited, Annual General Meeting, Apr 29, 2024 TSH Corporation Limited, Annual General Meeting, Apr 29, 2024, at 15:00 Singapore Standard Time. Agenda: To consider the Proposed Renewal of the Share Buyback Mandate. Announcement • Apr 12
TSH Corporation Limited Announces Retirement of Tan Dah Ching as Non-Executive Independent Director, Chairman of Nominating Committee, Member of Audit Committee and Remuneration Committee, Effective April 29, 2024 TSH Corporation Limited announced that Mr. Tan Dah Ching is due to retire as Non-Executive Independent Director at the Annual General Meeting of the Company to be held on 29 April 2024 pursuant to Regulation 107 of the Company's Constitution and will not be seeking a re-election to facilitate Board renewal. Upon his retirement, Mr. Tan will relinquish his position as Chairman of Nominating Committee, Member of Audit Committee and Remuneration Committee. SAC Capital Private Limited, after having interviewed Mr. Tan, is satisfied that, save as disclosed in this announcement, there are no material reasons for his retirement as Non-Executive Independent Director of the Company. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: S$0.009 (vs S$0.019 in FY 2022) Full year 2023 results: EPS: S$0.009 (down from S$0.019 in FY 2022). Revenue: S$10.9m (up 23% from FY 2022). Net income: S$392.0k (down 54% from FY 2022). Profit margin: 3.6% (down from 9.6% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 115% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. 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: Major Risks Shares are highly illiquid. Earnings have declined by 12% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Market cap is less than US$10m (S$4.44m market cap, or US$3.30m). Minor Risk Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Board Change • Jan 02
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Sep 15
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 13
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 12% per year over the past 5 years. High level of non-cash earnings (24% accrual ratio). Market cap is less than US$10m (S$12.0m market cap, or US$8.85m). Board Change • Jun 28
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • May 26
CEO & Executive Director recently bought S$2.5m worth of stock On the 23rd of May, Khoon Hui Chua bought around 5k shares on-market at roughly S$500 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 Khoon Hui's only on-market trade for the last 12 months. Board Change • May 23
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 06
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 29
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 13
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 24
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 28
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. 2 experienced directors. 2 highly experienced directors. CEO & Executive Director Khoon Hui Chua was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 12
TSH Corporation Limited, Annual General Meeting, Apr 29, 2022 TSH Corporation Limited, Annual General Meeting, Apr 29, 2022, at 15:00 Singapore Standard Time. Agenda: To consider Adopt the Audited Financial Statements, Directors' Statement and Auditor's Report for the financial year ended 31 December 2021; to consider Approval of Directors' fees of S$80,000.00 for the financial year ended 31 December 2021; to consider Re-election of Mr. Teo Kok Woon as a Director of the Company; to consider Re-election of Mr. Tan Dah Ching as Independent Director of the Company; to consider Re-appointment of Messrs Ernst & Young LLP as Auditors and to authorise the Directors to fix their remuneration; to consider Authority to allot and issue shares pursuant to the Share Issue Mandate; and to consider other matters. 
