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Latest Forum Topics / Hiap Seng Ind    Last:0.016 --  Post Reply
THE BEST IS YET TO BE
treetops
Elite
23-Feb-2026 15:31     
 
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Yells: "Moments Today, Memories Tomorrow!"
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 Alert Admin 		0.016 good deal entry for short term.
Target 0.02 to sell.
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Taylor
Elite
23-Feb-2026 15:01     
 
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 Alert Admin 		They just set up one newly main- contractor construction group, May be big project like koh brother or Chandra oil and gas Relate to be given,I'm pray hard 🙏 may be good for long term investment
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oldflyingfox
Master
23-Feb-2026 14:44     
 
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 Alert Admin 		What is the background of this  Tian Yuan? Is he related to Vibrant?
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sengkang
Master
13-Feb-2026 15:42     
 
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 Alert Admin 		TY is laughin all the way to the bank.
Classic money making deal in his favour.

k2kingkong      ( Date: 13-Feb-2026 15:06) Posted:

You posted that " The Company is pleased to update that on 12 February 2026, Tian Yuan has exercised 368,324,125
Options for 368,324,125 Option Shares for the Option Amount of S$2,198,895.03."

massimovindimian      ( Date: 13-Feb-2026 11:22) Posted:

Are you able to share the source?
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k2kingkong
Senior
13-Feb-2026 15:06     
 
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 Alert Admin 		You posted that " The Company is pleased to update that on 12 February 2026, Tian Yuan has exercised 368,324,125
Options for 368,324,125 Option Shares for the Option Amount of S$2,198,895.03."

massimovindimian      ( Date: 13-Feb-2026 11:22) Posted:

Are you able to share the source?

k2kingkong      ( Date: 13-Feb-2026 10:57) Posted:

TY got his shares at $0.00597 eac
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Taylor
Elite
13-Feb-2026 13:08     
 
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 Alert Admin 		continue throw by ty The two BB Chandra and vibrant kena stuck,. Easy money 💰 for CIMB and Fraser Both very good in short
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massimovindimian
Member
13-Feb-2026 11:22     
 
massimovindimian About Contact  Quote this Post!   Mood: happy
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 Alert Admin 		Are you able to share the source?

k2kingkong      ( Date: 13-Feb-2026 10:57) Posted:

TY got his shares at $0.00597 each

massimovindimian      ( Date: 12-Feb-2026 20:40) Posted:

On 16 February 2024, 368,324,125 Options were granted to Tian Yuan by the Company on behalf
of Hiap Seng Engineering Ltd, wherein the Company had assumed all liabilities and obligations of
Hiap Seng Engineering Ltd in connection with such Options.

The Company is pleased to update that on 12 February 2026, Tian Yuan has exercised 368,324,125
Options for 368,324,125 Option Shares for the Option Amount of S$2,198,895.03.
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k2kingkong
Senior
13-Feb-2026 10:57     
 
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 Alert Admin 		TY got his shares at $0.00597 each

massimovindimian      ( Date: 12-Feb-2026 20:40) Posted:

On 16 February 2024, 368,324,125 Options were granted to Tian Yuan by the Company on behalf
of Hiap Seng Engineering Ltd, wherein the Company had assumed all liabilities and obligations of
Hiap Seng Engineering Ltd in connection with such Options.

The Company is pleased to update that on 12 February 2026, Tian Yuan has exercised 368,324,125
Options for 368,324,125 Option Shares for the Option Amount of S$2,198,895.03.
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Taylor
Elite
13-Feb-2026 09:54     
 
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 Alert Admin 		Continue short IMO
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aragosta
Supreme
12-Feb-2026 20:54     
 
aragosta About Contact  Quote this Post!  
Yells: "BBs never say why when they buy; never tell when they sell"
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 Alert Admin 		Jialat liao.... I called for chow ah qua, you answered... thanks, thanks, anyway, for acknowledging..... and please learn to smell your own name correctly la.... want to be a roadside pros for PENNY stocks, must learn how to talk or spell properly la....

And want to give " not useful" rating,   learn how to cover your shit la.... the authorities confirms you gave not useful rating to my post at MASTER OF THE SEAS .../ hahah... why so cowardly? ....no wonder ownself call ownself idiot...  but I would call you a seow char bor..... every where you think   penny stock can pick up some hard up money , you must go and do road side ah qua show there .......

Stocky901      ( Date: 06-Feb-2026 21:25) Posted:

Jialat liao.. that chau ah qua aragosta back side itchy again.. enduring for so long now finally got a rare chance to throw out cock&bull stories on hsi.. even somebody just mentioned the word 'gangster' ..so desperate.. hahaha.. but as usual don't expect anything new from the koyo postings.. all the same cock&bull stories.. really outdated & sia suay kia .. hahaha.. and even gangsters also ignore this idiot ..😭

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massimovindimian
Member
12-Feb-2026 20:40     
 
massimovindimian About Contact  Quote this Post!   Mood: happy
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 Alert Admin 		On 16 February 2024, 368,324,125 Options were granted to Tian Yuan by the Company on behalf
of Hiap Seng Engineering Ltd, wherein the Company had assumed all liabilities and obligations of
Hiap Seng Engineering Ltd in connection with such Options.

The Company is pleased to update that on 12 February 2026, Tian Yuan has exercised 368,324,125
Options for 368,324,125 Option Shares for the Option Amount of S$2,198,895.03.
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k2kingkong
Senior
12-Feb-2026 18:36     
 
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 Alert Admin

Hiap Seng Industries Limited (SGX: 1L2) &mdash Updated Report with 2026 Data

Current Stock Performance (as of February 2026)



Metric

Value


Share Price

S$0.014&ndash 0.017 


52-Week Range

S$0.004 &ndash S$0.046 


Market Cap

~S$62.7M&ndash S$76M 


YTD Performance

Down ~32%  in the last month 


1-Year Return

Still up ~200% from relisting lows 


Critical Update: The stock has experienced a 32% decline in the past month as of February 2026, continuing its volatile trajectory.

HY2026 Financial Results (Six Months Ended 30 September 2025)



The company released its Half-Year FY2026 results on 14 November 2025:

 



Financial Metric

HY2026

HY2025

Change


Revenue

S$11.0M

S$12.6M

-12.7%


Profit Before Tax

S$1.6M

S$4.4M

-64%


EBITDA (Plant Construction & Maintenance)

S$1.9M

S$4.8M

-60%


Other Gains/(Losses)

S$0.2M

S$2.4M

-92%


Key Observations from HY2026 :


  • Revenue decline driven by lower construction and maintenance activities


  • Loss of one-off gains: HY2025 included S$1.2M from asset disposal and S$0.9M currency exchange gains that didn' t repeat


  • Operational profit decline: Excluding the S$2.2M decrease in other gains, core operational profit still declined by S$0.6M (14%)


  • Cash flow negative: Net decrease in cash of S$2.0M (operating cash outflow of S$0.7M + investing outflow of S$1.3M)

Trailing Twelve Months (TTM) Financials (to Sep 2025)



Metric

TTM Value

Trend


Revenue

S$21.22M

-16.6%  YoY 


Net Income

S$3.42M

-85.3%  YoY 


EPS (Diluted)

S$0.0008

-79.2%  decline 


Gross Margin

32.5%

Improved from 26.1% (cost control)


Operating Margin

18.1%

Improved from 8.3%


Free Cash Flow

-S$40,750

Negative 

Updated Ownership Structure (2026)



Shareholder

Stake

Notes


Vibrant Group Limited

~49%

Largest shareholder exercised options for 1.1B shares in Feb 2025 at S$6M 


Chandra Asri Trading (Catco)

11.87%

Strategic investor from Indonesian energy group 


Public Companies Total

61%

Concentrated control 


Insiders

16%

Management holds S$23M in shares 


Institutions

Minimal

Lack of institutional coverage 


Recent Development: In February 2025, Vibrant Group exercised 1.1 billion options at S$6M, increasing its control. This caused a 14% share price jump at the time but also contributed to dilution concerns.

2026 Strategic Developments



1. New Subsidiary Incorporation (January 2026)


  • Hiap Seng Energy Technology Pte. Ltd. (HSET) incorporated on 2 January 2026


  • Purpose: General contractor for building construction, major upgrading works, and engineering design consultancy


  • Initial capital: S$2.00 (2 shares)


  • Signals potential diversification beyond oil & gas maintenance


2. Workers' Dormitory Project


  • Capacity: 299 personnel


  • Budget: S$3M cap


  • Status: Under construction (expected Q4 2025 completion)


  • Purpose: Cost savings on foreign worker accommodation potential third-party rental income


3. Share Options Expiry


  • February 2026: Outstanding share options set to expire


  • This could trigger additional dilution or conversion activities

Causes of Recent Share Price Decline (2026 Update)



The 32% drop in January&ndash February 2026 extends the earlier decline and reflects:

 



Factor

Impact


Continued Revenue Erosion

HY2026 revenue down 12.7% TTM revenue down 16.6% 


Profitability Collapse

Net income down 85% YoY HY2026 PBT down 64% 


Persistent Dilution

Shares outstanding increased to  4.48 billion 

Vibrant' s option exercise added 1.1B shares 


Negative Cash Flow

Operating cash turned negative in HY2026 


Weak Order Book

Only  S$5M  confirmed for next 12 months (excluding routine maintenance) 


Valuation Compression

P/S ratio still elevated at  3.2x  vs industry average  0.8x 


No Dividend Support

Interim dividend of S$0.0001/share (negligible yield) 

Industry Context & Outlook



Challenging Operating Environment :


  • Elevated costs: Tightened foreign workforce policies and high dormitory expenses


  • Geopolitical uncertainties: Affecting client capital expenditure decisions


  • Oil & gas sector volatility: Reduced maintenance and shutdown activities


Management' s Response:


  • " Selective approach" to new projects prioritizing long-term profitability


  • Prudent capital allocation for potential M& A opportunities


  • Diversification into energy technology via new subsidiary

Valuation Assessment (February 2026)



Metric

Hiap Seng

Industry Average

Assessment


P/S Ratio

3.2x 

0.8x 

Overvalued


P/E Ratio

21.4x&ndash 28.8x 

16.2x 

Premium


P/B Ratio

2.34x&ndash 3.02x 

Industry lower

High


ROE

12.33% 

Moderate

Reasonable


ROA

7.25% 

Moderate

Reasonable


Analyst Consensus: No analyst coverage currently, indicating limited institutional interest.

Summary: Key Risks & Considerations



Red Flags:


  1. Accelerating revenue decline (-17% over past year, -6.7% over 3 years)


  2. Massive earnings collapse (85% net income drop)


  3. Continuous dilution destroying shareholder value


  4. Weak order book visibility (only S$5M confirmed)


  5. Negative free cash flow despite profitability


  6. Concentrated ownership (61% controlled by 2 entities) limits minority shareholder influence


Potential Positives:


  1. Strategic partnerships with Vibrant Group and Chandra Asri


  2. New subsidiary for diversification (Hiap Seng Energy Technology)


  3. Dormitory asset providing cost savings and potential rental income


  4. Debt-free balance sheet with S$21.7M cash


Investment Thesis: The 2026 data confirms Hiap Seng remains in a challenged turnaround phase. While the company has successfully relisted and stabilized post-judicial management, it faces structural headwinds in its core oil & gas maintenance business. The extreme valuation premium (3.2x P/S vs 0.8x industry) appears unsustainable given declining revenues and collapsing earnings. The stock' s 32% drop in early 2026 reflects this reality check, though it remains up 200% over 12 months from its relisting lows.

Caution Advised: The company has 5 warning signs identified by analysts (2 considered " unpleasant" ) , and the lack of institutional coverage combined with concentrated ownership presents governance risks for minority investors.


 
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Taylor
Elite
12-Feb-2026 12:29     
 
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 Alert Admin 		Look like catch short action, Hse know big retailers naked or bear want to protection keep buying 17 Double up ? 2pm will know
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Taylor
Elite
12-Feb-2026 09:30     
 
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 Alert Admin 		Easy money's can short Again

Newbie85      ( Date: 11-Feb-2026 22:21) Posted:

Took all profits at 17 today.

For past records refer to my older posts

Newbie85      ( Date: 11-Feb-2026 07:02) Posted:

Yes this counter good to short everyday

But after yesterday. Not so wise to do so no
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piscesmonkey
Supreme
12-Feb-2026 09:30     
 
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 Alert Admin 		Dead cat rebound? Goinf back 12 break then go 8 liao
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Taylor
Elite
12-Feb-2026 09:21     
 
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 Alert Admin 		Powerful the 17 Bear vs bill L Fight
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Taylor
Elite
12-Feb-2026 09:16     
 
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 Alert Admin 		Short 🐻 smelly
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Taylor
Elite
12-Feb-2026 09:10     
 
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 Alert Admin 		Should be alot short kena cover today later part
Watch closely if naked swim
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Newbie85
Veteran
11-Feb-2026 22:21     
 
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 Alert Admin 		Took all profits at 17 today.

For past records refer to my older posts

Newbie85      ( Date: 11-Feb-2026 07:02) Posted:

Yes this counter good to short everyday

But after yesterday. Not so wise to do so now

BlueKnight      ( Date: 06-Feb-2026 17:33) Posted:

Very shiok ...
Past 2 days just short only ...


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stlimst
Master
11-Feb-2026 21:55     
 
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 Alert Admin 		Master Student has spoken.
Hear ye, hear ye.

' Intitutions' in this case should include gangsters!

student      ( Date: 11-Feb-2026 18:25) Posted:

This one will surge IF instittions join the play.
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