Summary:
Kimly announced its proposed transfer from the SGX Catalist Board to the Mainboard on August 19th. Anticipated official completion and formal transfer to the SGX Mainboard is expected to be around February 2027.
With revenue of over $300 mil, annual profits of around $40 mil and a free float of approximately 44%, Kimly more than qualifies for an upgrade even by SGX’s stringent requirements.
The backdrop for the move and timing couldn’t be better. Kimly reported a stellar set of results in 1HFY26 with net profits rising by a better than expected 10.6% yoy to $16.4 mil and margins expanding to 28.3% from 27.5%.
Once Kimly has transferred to the Mainboard, Kimly’s size and steady liquidity qualify it for inclusion in global benchmark provider’s FTSE Developed Asia Pacific Index which tracks mid-to-small cap stocks in developed Asian markets.
Kimly is in a sweet spot with upcoming HDB estate intensification and recurring government food stamps (CDC vouchers – $500 in June). We reiterate our BUY on Kimly with an Intrinsic Value of $0.56, potential 37% upside.
