North Gaia EC sales boost Sing Holdings H2 net profit to S$138.2 million; special dividend planned
Developer plans new mega project of more than 1,000 units on two Chuan Grove sites that will be amalgamated
[SINGAPORE] Property development and investment group Sing Holdings on Tuesday (Feb 24) posted a record net profit of S$138.2 million for the six months ended December 2025 – over 18 times the S$7.5 million recorded a year prior.
This comes on the back of strong performance from its latest residential development project in Yishun, North Gaia.
Revenue for H2 stood at S$870.4 million, up by more than 85 times from S$10.2 million in the year-ago period.
With the company’s outstanding results, its board has proposed a final dividend of S$0.01 a share, and a special dividend of S$0.04 a share.
This takes the total dividend for FY2025 to S$0.05 a share.
The statement on Tuesday noted that in addition to the cash dividends, the board is recommending a bonus issue to shareholders, based on one bonus share for every four existing shares held.
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Earnings per share for the six months ended December 2025 stood at S$0.3446, a surge from S$0.0188 in the same period a year before.
Segment assets in Singapore property development in H2 FY2025 grew to S$1.7 billion, from S$787.7 million in the period a year prior.
Other income fell by 81 per cent year on year to S$886,000 during the period, from S$4.7 million in H2 FY2024.
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Sing Holdings said it is preparing for its next major project following the successful acquisition of two adjacent land parcels in Chuan Grove in 2025.
With the group having secured in-principle approval to amalgamate the sites, it plans to undertake a large-scale residential development with a gross floor area of 979,924 square feet.
The proposed development will comprise more than 1,000 apartment units and ancillary retail shops.
“With construction slated to begin in the second half of 2026, the company will focus its efforts over the next 12 months on the execution and launch preparation for the Chuan Grove development,” said the company in its bourse filing.
Shares of Sing Holdings closed flat at S$0.675 on Tuesday.
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