Leading building materials supplier Hafary is back again as a big winner at this year’s Centurion Club. Besides securing the overall title in the industrials sector, Hafary is also recognised for having the best weighted return on equity (ROE). Sarawak-based offshore marine group Nam Cheong led growth in PAT. 

At the same time, Oiltek International, one of the best-performing Singapore stocks over the last year, has unsurprisingly been recognised for delivering the best returns to shareholders.

Hafary, founded in 1980 by executive director and CEO Low Kok Ann, is today the leading supplier of premium tiles, wood flooring, countertops and sanitary ware in Singapore. It sources from Italy and Spain, and also runs two manufacturing sites in Johor. The company has a direct-to-retail business, and, in a bid to elevate the experience, it opened the 15,000 sq ft Hafary House at 161 Lavender Street. In addition, the company sells to project managers of both public and private developments. 

In FY2024, Hafary grew its revenue by 16.2% y-o-y to $263.1 million, driven by increased revenue contributions from the manufacturing segment, which offset a moderation in the general and project segments. However, despite higher sales, Hafary had to bear with higher costs. This led to a 28.4% drop in earnings to $28.7 million. “We remain confident in our long-term growth trajectory, supported by strategic expansion and our resilience in the market,” says Low.

Nam Cheong was listed in 2011 through a reverse takeover of Eagle Brand Holdings. Its main business is chartering its fleet of 37 vessels for offshore oil and gas projects. It is also in shipbuilding, with a 12.6ha yard in Miri. To cope with growing demand, it also outsources yard services to China. In the most recent FY2024 ended Dec 31, revenue jumped by 44.1% y-o-y to RM684.7 million ($210.78 million), thanks to a bigger fleet, better charter rates, and higher utilisation. Its bottom line, meanwhile, was lifted after Nam Cheong received a boost of RM552.4 million from the waiver of debts under its 2024 scheme and its debt restructuring agreement. As such, earnings reached RM800.2 million, up from RM180.6 million in FY2023, marking its third consecutive year of profitability growth and underscoring its resilience and ability to navigate business challenges effectively. 


See also: A rejuvenated Singapore market, a reset for The Edge Singapore

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Oiltek International made its debut in the Centurion Club, as investors begin to recognise its earnings growth and potential in a big way. The engineering firm, listed in 2022, specialises in building refineries for edible oil, whose underlying growth is underpinned by the overall move towards sustainability. Since it was set up in 1980, the company has designed, built and commercialised over 650 plants in more than 37 countries across five continents. In its most recent FY2024, it set new records for both the top and bottom lines. Revenue was up 14.5% y-o-y to RM230.3 million and earnings up 55% to RM29.6 million.

In June, Oiltek upgraded its listing to the Mainboard and it plans to have a secondary listing on the Bursa too.