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161-180 of 631
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
What is the background of this Tian Yuan? Is he related to Vibrant?
TY is laughin all the way to the bank.
Classic money making deal in his favour.
Classic money making deal in his favour.
k2kingkong ( Date: 13-Feb-2026 15:06) Posted:
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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."
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:
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continue throw by ty
The two BB Chandra and vibrant kena stuck,.
Easy money 💰 for CIMB and Fraser
Both very good in short
Are you able to share the source?
k2kingkong ( Date: 13-Feb-2026 10:57) Posted:
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TY got his shares at $0.00597 each
massimovindimian ( Date: 12-Feb-2026 20:40) Posted:
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Continue short IMO
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 .......
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:
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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.
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.
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:
-
Accelerating revenue decline (-17% over past year, -6.7% over 3 years) -
Massive earnings collapse (85% net income drop) -
Continuous dilution destroying shareholder value -
Weak order book visibility (only S$5M confirmed) -
Negative free cash flow despite profitability -
Concentrated ownership (61% controlled by 2 entities) limits minority shareholder influence
Potential Positives:
-
Strategic partnerships with Vibrant Group and Chandra Asri -
New subsidiary for diversification (Hiap Seng Energy Technology) -
Dormitory asset providing cost savings and potential rental income -
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.
Look like catch short action,
Hse know big retailers naked or bear want to protection keep buying 17
Double up ?
2pm will know
Easy money's can short Again
Newbie85 ( Date: 11-Feb-2026 22:21) Posted:
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Dead cat rebound? Goinf back 12 break then go 8 liao
Powerful the 17
Bear vs bill
L
Fight
Short 🐻 smelly
Should be alot short kena cover today later part
Watch closely if naked swim
Watch closely if naked swim
Took all profits at 17 today.
For past records refer to my older posts
For past records refer to my older posts
Newbie85 ( Date: 11-Feb-2026 07:02) Posted:
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Master Student has spoken.
Hear ye, hear ye.
' Intitutions' in this case should include gangsters!
Hear ye, hear ye.
' Intitutions' in this case should include gangsters!
student ( Date: 11-Feb-2026 18:25) Posted:
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4.4bil shares, not easy to trade. Maybe can consider share consolidation. Trade with care.
student ( Date: 11-Feb-2026 18:25) Posted:
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