Events manager Kin Productions lodges preliminary prospectus for Catalist IPO

[SINGAPORE] Sports events manager Kin Productions on Monday (Mar 30) lodged its preliminary prospectus for a listing on the Catalist board of the Singapore Exchange (SGX).

The Singapore-based company – which counts the World Aquatics Championship, FIDE World Chess Championship Singapore 2024 and Singapore 2024 World Taekwondo Virtual Championship as projects under its belt – could be the third company to list on the Catalist board this year. 

Its potential listing follows that of co-living operator The Assembly Place and customer experience platform Toku, which both commenced trading in January. 

“We want to get listed (as) we have grown very well over the last eight years,” said Ko Chee Wah, the chairman of Kin Productions, in a recent interview with The Business Times. The proposed listing is managed and sponsored by SAC Capital.

In its preliminary offer document, the group said it is seeking a Catalist listing as it believes this will enhance its public image locally and overseas. This will allow it to raise funds from capital markets to expand its business operations.

Proceeds from the invitation and cornerstone tranche will provide additional capital for its business expansion and general working capital, it said, adding that it may invest the funds in short-term money market instruments.

None of the proceeds from either tranche will be used to discharge, reduce or retire any indebtedness of the group, the company added.

The group does not currently have a fixed dividend policy; and its board may recommend future dividends depending on factors such as the company’s cash levels, retained earnings, financial performance, capital expenditure, expansion plans and working capital requirements.

Kin Productions noted that the board intends to recommend dividends of not less than 20 per cent of its net profit after tax for FY2025. This excludes the S$2 million interim dividend declared by Kin Productions and the dividend of around S$300,000 declared by Kin D+B, an associated company, in respect of FY2025.

The board also intends to recommend dividends of not less than 30 per cent of its net profit after tax for FY2026.

Based on its latest financial statements for the first nine months of 2025, the company’s net profit stood at close to S$4 million, compared with S$442,000 for the year-ago period. Its revenue rose to S$56.5 million, up from nearly S$8 million.

For its latest financial year of FY2024, it posted a net profit of S$1.6 million, nearly double from its net profit of S$864,000 in FY2023, although its revenue fell to S$19.6 million from S$20.6 million.

Founded in 2017, Kin Productions was started by Ko’s former colleagues at entertainment company Cityneon, a former SGX-listed company where Ko previously served as group managing director, and that he brought public in 2005. Cityneon was renamed Neon Global and went private in 2019. 

Kin Production specialises in sports events management, and is now expanding into the event tourism sector. Given the company’s strength in the sports event industry, Ko sees this as a stepping stone to further expansion. 

He highlighted the “infinite opportunities” within event tourism and noted that Kin has already taken concrete steps to enter this space by focusing on growing key verticals. 

Event tourism, Ko explained, refers to events created and staged in order to attract and draw quality tourist traffic into the country. 

In Singapore, he noted, significant government investments in this sector include the S$30 billion being spent on Changi Airport’s Terminal 5, new developments such as the Founders Memorial and NS Square as well as expansion projects underway at Marina Bay Sands, Resorts World Sentosa, and Mandai.

Kin plans to leverage its success in sports events to manage cultural and live entertainment events as well as theme parks and attractions.

Ko added: “To achieve growth in the next three to five years, we need funds. That is why we have chosen to tap the capital markets, to get those funds to help us to grow.”

Nevertheless, the preliminary prospectus listed several potential risks for the company. These include the group’s ability to successfully secure new projects, competition from established and new entrants to the market as well as the risk of decreased demand for new projects.

Home-field advantage

Ko shared that despite suggestions from some to consider listings on larger international exchanges such as Hong Kong Exchange or Nasdaq, he strongly believes in the value of the Singapore market.

“This is our home country (where) we are known by the players, fund managers, and key clients here,” he said.

He dismissed the misconception that being listed on the Singapore market means limited visibility or poor investor following, pointing to companies such as DBS that have made a mark globally.

He added: “You have to be a good company (and) show good growth. Your fundamentals must be strong; and if you can show all these things, the market will take notice.”

“We definitely feel that it is the right time and the right place to get listed,” said Ko.