Tuan Sing Holdings Ltd posted a net profit attributable to shareholders of S$32.1 million for the year ended 31 December 2025, swinging from S$2.3 million a year earlier, as S$51.2 million of fair-value gains from asset revaluations in Singapore and Australia offset weaker development sales.
Earnings per share rose to 2.58 Singapore cents from 0.19 cents in FY2024. The board recommended an unchanged first-and-final, one-tier tax-exempt dividend of 0.7 Singapore cent per share, payable on 26 June 2026 under the Tuan Sing Scrip Dividend Scheme.
Group revenue declined 24 per cent year-on-year (YoY) to S$146.0 million. Hospitality remained the largest contributor, with sales up 12 per cent to S$89.6 million on higher occupancy and room rates at Grand Hyatt Melbourne and the first full-year contribution from Fraser Residence River Promenade in Singapore. Adjusted EBIT from the segment climbed 28 per cent to S$15.5 million.
Real Estate Investment revenue slipped 10 per cent to S$48.2 million after the expiry of an anchor tenant in Perth and temporary closure of Singapore’s Dunearn Village for upgrading. Segmental adjusted EBIT fell 15 per cent to S$16.2 million despite contributions from completed phases of Shoppe on Langley Park’s enhancement.
Real Estate Development revenue contracted 91 per cent to S$3.9 million, reflecting the completion of Peak Residence in October 2024. The segment narrowed its adjusted EBIT loss to S$2.3 million, helped by lower selling expenses.
Other Investments—mainly the 44.5 per cent stake in printed-circuit-board maker GulTech and a Malaysian packaging unit—recorded S$7.0 million in revenue, while adjusted EBIT improved 10 per cent to S$29.2 million on stronger demand for GulTech’s products.
The year’s bottom-line turnaround was driven chiefly by S$51.2 million of fair-value gains arising from the completion of enhancement works at Dunearn Village and a positive revaluation of 121-131 Collins Street in Melbourne, which recently secured planning approval for a mixed-use redevelopment.
Looking ahead, the group intends to deepen recurring income, continue asset enhancements and explore selective expansion in Asia-Pacific markets where it sees strong fundamentals. It also emphasised maintaining a “prudent balance sheet” while pursuing value-accretive opportunities in commercial, residential and hospitality assets.
Chief executive officer William Liem said the gains underscore the “intrinsic quality” of the portfolio and the discipline of the group’s repositioning strategy. He noted that global growth is expected to hold at about 3.3 per cent, and, despite geopolitical uncertainties, well-located assets should remain resilient. The company will therefore focus on disciplined execution, optimisation of existing properties and regional expansion to sustain long-term shareholder value.