Soon Hock Enterprise Holding Limited has announced a remarkable financial turnaround, reporting a net profit after tax (NPAT) of S$19.3m for the first half of 2026. This marks a significant improvement from a net loss of S$1.4m in the same period last year. The surge in profitability is attributed to the completion of the Stellar@Tampines project, which contributed S$140.7m to the company’s revenue.
The company’s total revenue for the period reached S$142.6m, an 87.7-fold increase from S$1.6m in 1H2025. This growth was primarily driven by the property development segment, with Stellar@Tampines playing a pivotal role following the issuance of its final Temporary Occupation Permit in February 2026. The property investment segment also saw a modest rise, generating S$1.9m compared to S$1.6m the previous year.
Gross profit soared to S$44.6m, although the gross profit margin dipped to 31.3% from 36.8% due to a shift in revenue mix. Increased expenses, including S$18.6m in sales commissions and S$2.2m in administrative costs, were partially offset by reduced finance costs and gains from property divestments.
Looking ahead, Soon Hock Enterprise is progressing with its Skye@Tuas development, expected to partially complete by early 2027. The company is also enhancing its investment property portfolio, with plans for a workers’ dormitory at 20 Shaw Road. CEO Walter Tan Min Loon emphasised the company’s commitment to delivering quality industrial developments, stating, “The completion of Stellar@Tampines and its impact on our performance underscores our ability to execute and deliver quality industrial developments.”
