Even as the march of delistings continues, the Singapore IPO scene might be stirring, with two companies lodging their draft prospectuses last month: Vin's Holdings on March 14 and YLF Group Marketing on March 27.
The last company to IPO here was Attika Group, which started trading last November having raised 4.6 million shares at 22 cents each. It last traded at 35 cents.
Vin's Holdings, headed by executive director and chairman Vincent Khong, sells and leases cars and also offers financing, after-sales and maintenance services.
Khong started the company back in 1987, as a motor vehicle workshop handling accident repairs and insurance claims.
For the most recent 9MFY2024, it reported earnings of $2 million, versus $2.49 million recorded in the year-earlier period. Revenue in the same nine-month period was $83.7 million, up from $82.8 million in 9MFY2023.
For the whole of FY2023, the company's earnings reached $3.27 million versus $2.78 million in FY2022.
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In its product highlights sheet, the company says it will tap new technologies to improve its efficiency.
Also, it will open new showrooms as a way to grow. "Pre-owned motor vehicles, in particular, represent a significant opportunity for us due to increasing consumer demand for affordable, high-quality vehicles at an affordable price.
"We aim to capitalise on this trend by upgrading existing showrooms and establishing new ones in strategic locations across Singapore," the company says.
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Vin's Holdings's listing is arranged by RHB Bank.
YLF Group Marketing, headed by Lee Tee Wei, executive director, chairman and CEO, describes itself as an established manufacturer and distributor of candies and candy novelty products, with a presence in Singapore, Malaysia, and Thailand.
The company began back in 1980 as a distributor of confectionary and beverages in Singapore.
Its own candy brands include “Pikin” brand of plum candies, “Beardy” and “Toy’s Castle” brands of candies, biscuit products and novelty products.
In addition, YLF manufactures on behalf of licensors such as Disney and Warner Bros.
For the most recent 9MFY2024, earnings came in at $2.5 million, a drop from $3.38 million in the year-earlier period. Revenue in the same nine-month period was $24.7 million, versus $26.5 million in 9MFY2023.
In its product highlights factsheet, YLF says it wants to develop new brands and new food and beverage products to cater to changing market trends and demands.
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"We will continue to grow our existing product range and brand portfolio to meet evolving consumer tastes and preferences," the company says.
It is planning to increase its marketing efforts in Singapore, Malaysia, Thailand and Vietnam, as well as in other overseas markets, in order to increase brand awareness.
YLF's listing is arranged by Xandar Capital and KGI Securities (Singapore) is the placement agent.
