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Lincotrade & Associates / Equity Bottom-Up

<ul>
<li>Lincotrade delivered a stellar financial performance in 1HFY26. The Group’s 1HFY26 net profit surged 400.6% YoY to S$3.9 million, exceeding FY25 full year net profit of S$2.6 million.</li>
<li>1HFY26 revenue increased 58.2% YoY to S$53.3 million, while gross profit jumped 94.0% to S$8.0 million, underscoring effective project execution and improved cost efficiency.</li>
<li>The Group’s overall gross margin expanded sharply from 12.5% in FY25 to 15.0% in 1HFY26.</li>
</ul>


Lincotrade delivered a stellar financial performance in 1HFY26. The Group’s 1HFY26 net profit surged 400.6% YoY to S$3.9 million, exceeding FY25 full year net profit of S$2.6 million.
1HFY26 revenue increased 58.2% YoY to S$53.3 million, while gross profit jumped 94.0% to S$8.0 million, underscoring effective project execution and improved cost efficiency.
The Group’s overall gross margin expanded sharply from 12.5% in FY25 to 15.0% in 1HFY26.


Lincotrade & Associates Holdings Limited - From Execution to Acceleration

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<ul>
 <li>
Record Order Book Provides Strong Revenue Visibility: Lincotrade's order book surged to a record S$113.0 million as of September 2025, providing approximately two years of revenue visibility and underpinning confidence in forward growth. The majority of these new projects are in the commercial sector, which typically yield higher margins.</li>
 <li>
Strategic Shift to Higher-Margin Projects and Geographic Expansion: The company is strategically focusing on higher-margin commercial projects and expanding its footprint into Malaysia. This includes a new data centre project in Johor and a 30% stake in a residential property development in Kuala Lumpur, signaling a diversification of revenue streams.</li>
 <li>
Operational Efficiency and Cost Management Initiatives: The upcoming completion of its new Tuas facility, which includes a 204-bed workers' dormitory, is expected to reduce accommodation costs and improve operational efficiency. This, combined with better cost controls, has already contributed to an improvement in gross profit margins.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Record Order Book Provides Strong Revenue Visibility: Lincotrade's order book surged to a record S$113.0 million as of September 2025, providing approximately two years of revenue visibility and underpinning confidence in forward growth. The majority of these new projects are in the commercial sector, which typically yield higher margins.
  
Strategic Shift to Higher-Margin Projects and Geographic Expansion: The company is strategically focusing on higher-margin commercial projects and expanding its footprint into Malaysia. This includes a new data centre project in Johor and a 30% stake in a residential property development in Kuala Lumpur, signaling a diversification of revenue streams.
  
Operational Efficiency and Cost Management Initiatives: The upcoming completion of its new Tuas facility, which includes a 204-bed workers' dormitory, is expected to reduce accommodation costs and improve operational efficiency. This, combined with better cost controls, has already contributed to an improvement in gross profit margins.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Lincotrade & Associates Holdings (LINASC SP) - Feb 2026

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>Institutions were net buyers of Singapore stocks with S$208 million inflow; major inflows included OCBC, Hongkong Land, and Singtel.</li><li>Over five sessions, 19 companies conducted share buybacks totaling S$11.5 million; UOB led with 190,000 shares.</li><li>Director transactions included substantial acquisitions by Asdew Acquisitions in Low Keng Huat and Tan Chee Khoon in Lincotrade & Associates.</li></ul>

Institutions were net buyers of Singapore stocks with S$208 million inflow; major inflows included OCBC, Hongkong Land, and Singtel.Over five sessions, 19 companies conducted share buybacks totaling S$11.5 million; UOB led with 190,000 shares.Director transactions included substantial acquisitions by Asdew Acquisitions in Low Keng Huat and Tan Chee Khoon in Lincotrade & Associates.

Net Institutional Inflow Continues; QAF, XMH, JEP Directors Add

<ul>
<li>Lincotrade &amp; Associates Holdings Limited is a Singapore-based interior fitting-out specialist with over 30 years of experience and an established track record in commercial, residential premises as well as showflats and sales galleries.</li>
<li>Lincotrade is engaged in the provision of interior fitting-out services, additions and alterations (“A&amp;A”) works and other building construction services.</li>
<li>Catering to its current operational requirements and future needs, the Company has acquired a larger JTC facility in Tuas with approval to build a 204-bed ancillary workers dormitory.</li>
</ul>


Lincotrade &amp; Associates Holdings Limited is a Singapore-based interior fitting-out specialist with over 30 years of experience and an established track record in commercial, residential premises as well as showflats and sales galleries.
Lincotrade is engaged in the provision of interior fitting-out services, additions and alterations (“A&amp;A”) works and other building construction services.
Catering to its current operational requirements and future needs, the Company has acquired a larger JTC facility in Tuas with approval to build a 204-bed ancillary workers dormitory.


Lincotrade & Associates Holdings Limited - Enhanced Revenue Visibility with Record Order Book

<ul><li>Institutions were net sellers of Singapore stocks from Nov 21 to Nov 27, with a S$552 million outflow.</li><li>Engro Corporation Chairman Tan Cheng Gay increased his interest to 25.01% by acquiring 11,870,000 shares at S$0.725 each.</li><li>Sanli Environmental proposed a placement of up to 38,492,404 shares at S$0.260 each, raising up to S$10,008,025.</li></ul>

Institutions were net sellers of Singapore stocks from Nov 21 to Nov 27, with a S$552 million outflow.Engro Corporation Chairman Tan Cheng Gay increased his interest to 25.01% by acquiring 11,870,000 shares at S$0.725 each.Sanli Environmental proposed a placement of up to 38,492,404 shares at S$0.260 each, raising up to S$10,008,025.

Singtel Tops Buybacks; Soon Hock & Engro Chairs Boost Stakes; Sanli Eyes Growth with Placement

Singapore

Lincotrade & Associates is a Singapore-based interior fitting-out specialist. The company provides integrated interior fitting-out services, additions and alterations (A&A) works, and other building construction services for commercial and residential properties, as well as showflats and sales galleries. It was established in 1991 and is headquartered in Singapore.

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Lincotrade & Associates (LINASC SP)

Lincotrade & Associates Holdings Limited - From Execution to Acceleration

Lincotrade delivered a stellar financial performance in 1HFY26. The Group’s 1HFY26 net profit surged 400.6% YoY to S$3.9 million, exceeding FY25...

SAC Capital

Primer: Lincotrade & Associates Holdings (LINASC SP) - Feb 2026

Record Order Book Provides Strong Revenue Visibility: Lincotrade's order book surged to a record S$113.0 million as of September 2025,...

αSK

Net Institutional Inflow Continues; QAF, XMH, JEP Directors Add

Institutions were net buyers of Singapore stocks with S$208 million inflow; major inflows included OCBC, Hongkong Land, and Singtel. Over five...

Singapore Exchange Ltd (SGX)

Lincotrade & Associates Holdings Limited - Enhanced Revenue Visibility with Record Order Book

Lincotrade & Associates Holdings Limited is a Singapore-based interior fitting-out specialist with over 30 years of experience and an established...

SAC Capital

Singtel Tops Buybacks; Soon Hock & Engro Chairs Boost Stakes; Sanli Eyes Growth with Placement

Institutions were net sellers of Singapore stocks from Nov 21 to Nov 27, with a S$552 million outflow. Engro Corporation Chairman Tan Cheng Gay...

Singapore Exchange Ltd (SGX)

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