Senja Close EC™

Welcome to the ultimate foodie’s paradise – Bukit Panjang near the luxurious Senja Close EC. No matter what your taste buds are yearning for, this area is brimming with delectable options. Whether it’s the rich flavors of Chinese dishes or the aromatic spices of Indian cuisine that entice you, rest assured, there is something for everyone here. From humble ramen stalls to exquisite fine dining establishments, you’ll be spoilt for choice. Be sure to add Senja Close EC to your list of must-visit places for a gastronomic experience like no other.

Home is where there’s a GymMortgagee sale of three industrial units at T99 in Tuas Source – The industrial real estate developer, Soon Hock Enterprise Holdings, has filed its preliminary prospectus with the Monetary Authority of Singapore (MAS) for its planned listing on the Mainboard of the Singapore Exchange Securities Trading (SGX-ST). The company focuses on developing and selling industrial properties and has been involved in the launch of more than 1,200 units of strata-titled industrial properties in Singapore. According to the company, revenue is recognized when the customer takes control of the property.

Soon Hock’s current projects are located in Singapore, and the company is looking to acquire more land sites or properties through tenders or direct purchases for development and redevelopment to expand its portfolio. One of its key strengths is its deep understanding of the specific needs of end-users in the industrial space, as seen in its ongoing development at Skye@Tuas, which caters to heavy-duty logistics and transport users.

The company also has partnerships with companies that offer strong design and build capabilities and strategically selects locations for its projects.

In terms of revenue, Soon Hock’s main source is from property development income, which accounted for 99.5% of its total revenue in FY2023 and 82.6% in FY2024. Rental income from leasing its investment properties is also a significant contributor, accounting for 17.4% in FY2024 and 97.7% in 1QFY2025. For FY2024, the company’s revenue was $7.9 million, a significant decrease from $264.7 million in FY2023, primarily due to the absence of revenue from the sale of development property.

Soon Hock’s gross profit also saw a significant decline in FY2024, dropping by 94.3% from $66.4 million in FY2023. This was again due to the lack of revenue from the sale of development property.

As of December 31, 2024, Soon Hock’s current assets amounted to $316.5 million, representing 87.7% of its total assets. This includes development properties, cash and cash equivalents, and trade and other receivables.

The company plans to use the net proceeds from the IPO to acquire new land sites and buildings for development and redevelopment, finance the cost of developing 20 Shaw Road, and partially fund existing property development projects. Its founder and executive chairman is Tan Yeow Khoon, and its cornerstone investors include Amova Asset Management, ICHAM Master Fund VCC, Maybank Asset Management, and UOB Kay Hian, among others.

Soon Hock’s joint issue managers, joint global coordinators, and joint bookrunners for the proposed IPO are Maybank Securities and United Overseas Bank.