Industrial property developer Soon Hock Enterprise Holding has reported earnings of $37.9 million for its FY2025, an increase of 10.6 times over the preceding year ended Dec 2024. Revenue in the same period was up 27.9 times to $227.9 million.
The higher numbers were mainly due to recognition of revenue from its Stellar@Tampines development.
The company's property investment segment did well too, with revenue here up 1.4 times to $3.2 million, thanks to higher lease income from 2F Jalan Papan.
As at Dec 31 2025, the company held cash and equivalents of $160 million, up from $18.6 million; net assets increased from $36.8 million to $156.8 million.
Soon Hock plans to pay a final dividend of 3.05 cents per share, equivalent to a payout ratio of 25%.
Going forward, the company expects to recognise sales from its Skye@Tuas development, which will likely obtain its partial TOP in December 2026.
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Soon Hock plans to also develop a worker dormitory on its freehold property 20 Shaw Road with FY2028 as the expected completion date.
“The multi-strata industrial building segment is highly competitive, but I believe Soon Hock Enterprise is in a strong position to secure tenders through the Industrial Government Land Sales program, collective sales (En Bloc) and secondary market land purchase," says Walter Tan, the company's executive director and CEO.
"Since our listing, we have strategically deployed proceeds from the IPO to support ongoing and upcoming projects. We remain focused on our development pipeline and will continue to pursue opportunities that create long-term value for our shareholders," he adds.
Soon Hock shares, which went IPO last October at 58 cents, closed at 67 cents on Feb 23, up 1.53% for the day.
