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Tuan Sing Soaring Beyond $1 Post Reply Rate topic
spursfan Supreme	01-Jul-2026 18:53        spursfan About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://links.sgx.com/1.0.0/corporate-announcements/DME55YLY6B6XUVWC/895040__eFORM3V2%20-%20Greenpark%20Investments_30%20June%202026.pdf
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Alignment Elite	29-Jun-2026 12:07        Alignment About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Perhaps just a move between holding companies. Let' s see.
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kusje58 Member	29-Jun-2026 10:39        kusje58 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hopefully looking to privatize?
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Goldfinger Supreme	26-Jun-2026 17:19        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Koh family sold their stake?
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investshare Supreme	26-Jun-2026 16:22        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is more than 5% threshold, definitely something is brewing.
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sengkang Master	26-Jun-2026 15:52        sengkang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wow = something' s brewing? investshare      ( Date: 26-Jun-2026 11:43) Posted: That is quite big size. Should trigger some disclosure. Beta21177      ( Date: 26-Jun-2026 11:30) Posted: 10:40:13 0.325 65,830,000 Married Deal
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investshare Supreme	26-Jun-2026 11:43        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	That is quite big size. Should trigger some disclosure. Beta21177      ( Date: 26-Jun-2026 11:30) Posted: 10:40:13 0.325 65,830,000 Married Deal
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Beta21177 Member	26-Jun-2026 11:30        Beta21177 About Contact  Quote this Post!
x 0   x 0  Alert Admin	10:40:13 0.325 65,830,000 Married Deal
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7ocean Master	26-Jun-2026 11:24        7ocean About Contact  Quote this Post!
x 0   x 0  Alert Admin	What' s happen to their Batam Developent project????  investshare      ( Date: 26-Jun-2026 10:06) Posted: Q and got it at 0.31. Sudden breakdown. But pcb biz should be good, I think higher chance being acquired than ipo.
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kusje58 Member	26-Jun-2026 11:04        kusje58 About Contact  Quote this Post!
x 0   x 0  Alert Admin	direct beneficiary is ok. but it needs to translate to pnl and dividends
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investshare Supreme	26-Jun-2026 10:15        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is indeed very strange. In some way, gultech is probably the most direct beneficiary of AI boom. Probably not many people understand the AI ecosystem.
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investshare Supreme	26-Jun-2026 10:06        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Q and got it at 0.31. Sudden breakdown. But pcb biz should be good, I think higher chance being acquired than ipo.
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kusje58 Member	22-Jun-2026 16:32        kusje58 About Contact  Quote this Post!
x 0   x 0  Alert Admin	ok but so what? share price is still shit
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Alignment Elite	18-Jun-2026 20:59        Alignment About Contact  Quote this Post! Style: Fundamental
x 0   x 0  Alert Admin	Another beneficiary of AI boom
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investshare Supreme	17-Jun-2026 11:42        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Pcb industry is super good now.
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SmallSmall Supreme	04-May-2026 13:16        SmallSmall About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Call to Divest GulTech at Tuan Sing&rsquo s AGM and the CEO' s Reply   Leong Chan Teik     04 May 2026     While Tuan Sing Holdings is recognised as a regional real estate group, one of its most valuable holdings is rooted in its  44.5% equity interest in  Gul Technologies Singapore (GulTech), a printed circuit board (PCB) manufacturer. Tuan Sing has a long association with GulTech which, at some point in the future, will be divested.  Tuan Sing' s CEO, William Liem, at the recent AGM said as much -- to no one' s surprise -- reiterating its position that GulTech is a non-core asset to be divested. " The asset is doing well, but of course, for us, it' s still a non-core asset. At some point, if we are able to, we would consider to divest and focus on real estate and as a result be able to deploy capital better," he said.   The Story of a Failed IPO In 2021, it was announced that Gultech Jiangsu was exploring a potential IPO in China. Unfortunately it was eventually aborted.   Tuan Sing' s CEO  acknowledged shareholder feedback regarding the need to unlock its value. He assured investors that the board is " working hard" and actively exploring various strategic options to monetize this asset.   Favourable condition " Today' s condition looks very favourable. And then we have all along been telling the market that this is a non-core investment... So now, taking advantage of this window, we quickly do a deal to divest off our stake so that we can bring down our debt meaningfully." -- Shareholder at AGM " It' s been taking time, but I think at the end of the day, as you rightly pointed out, the markets are quite strong at this point in time for that particular asset, that asset class, and there' s a lot of interest in it. And we are, as a board, trying to explore different ways to monetize that," he said in reply to a shareholder. GulTech caters to a diverse range of industries, including the  automotive, computer peripheral, consumer electronics, and healthcare sectors. It currently operates two plants in Suzhou, Wuxi and Jiangsu, and has just set up a fourth facility in Kedah, Malaysia.   What valuation? " Based on GulTech&rsquo s current earnings profile, what valuation range does the board ascribe to this investment under different scenarios, and how does this compare with its carrying value on the balance sheet?." -- SIAS'   pre-AGM submitted question.  Tuan Sing did not respond to the part about valuation range. GulTech' s Profitability and the PCB Market Boom The timing for such a divestment could not be better, as GulTech is currently riding the wave of an industry upswing. GulTech recorded a net profit of S$65.82 million on a 100% basis for FY 2025. This success is underpinned by increased global demand for printed circuit boards. Furthermore, the broader PCB market is experiencing a boom, largely driven by the growth of AI applications.   Financials of GulTech and its subsidiaries on a 100% are shown in the table below: Year Revenue (S$' 000) Net Profit (S$' 000) 2022 624,931 62,086 2023 506,606 71,181 2024 430,495 59,032 2025 470,498 65,817 Source: Tuan Sing annual reports A shareholder cited Victory Giant, which  surged post-listing  in April 2026  on HKSE, and trades at ~50X PE, a premium due to its PCB products targeting AI usage for AI clients, especially Nvidia. Even if GulTech' s PE is, say, 20X, given its exposure is to automotive and other sectors, the valuation of S$1.3 billion translates to S$580 million attributable to Tuan Sing' s stake. This alone is higher than Tuan Sing' s current market cap of S$412 million (stock price: 33 cents).  Currently, Tuan Sing' s  equity interest in GulTech is carried on its balance sheet at S$177.69 million.   Value of a Complete Divestment If Tuan Sing successfully executes a complete divestment of GulTech, the windfall could be transformative for the group.   Stock price  $0.33 52-week range $0.23-$0.37 Market cap S$412 m PE  (ttm) 11 Dividend yield  2.1% P/B 0.34 Source: Yahoo! Completely monetising this asset would bring immense value by allowing Tuan Sing to meaningfully pay down its S$1.39 billion in total borrowings. Ultimately, it would also provide extra fuel for Tuan Sing' s real estate ambitions and enhance overall shareholder returns.
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sengkang Master	22-Apr-2026 10:14        sengkang About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hmmmmm linbei      ( Date: 17-Apr-2026 08:15) Posted: War over . Everything back to normal
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linbei Veteran	17-Apr-2026 08:15        linbei About Contact  Quote this Post! Style: Combined   Mood: Yells: "Huat ah!"
x 0   x 0  Alert Admin	War over . Everything back to normal
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Beta21177 Member	04-Mar-2026 10:26        Beta21177 About Contact  Quote this Post!
x 0   x 0  Alert Admin	30c coming
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kusje58 Member	01-Mar-2026 00:15        kusje58 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Why are they not able to make money? Assets getting revalued but they can' t extract profits from it? What' s the point of having those assets then? Sell them and realize the gains.
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