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The Assembly Place IPO

   The Assembly Place Holdings Ltd. IPO Overview Company:   The Assembly Place Holdings Ltd. Listing venue:  Singapore Exchange (SGX) —  Catalist  board Offer type:  IPO (Public Offer + Placement + Cornerstone) Sponsor / Issue Manager:  SAC Capital Private Limited The Company is offering 50.3m shares of which 48.3 will be via placement and the balance 2m shares via public offering.  The IPO will close on 21 Jan 2026 noon and start trading on 23 Jan 2026 at 9am.   Business Description The Assembly Place (TAP) is  Singapore’s largest  community living operator * by number of keys under management, operating under an  asset-light  model that leases and manages accommodation properties rather than owning them outright. As at 17 Dec 2025, TAP managed  ~3,422 keys across ~100 property assets  in Singapore, spanning multiple living sectors. TAP’s portfolio includes: Residential co-living  spaces (for singles a...
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Hafary Holdings Limited

Hafary Holdings was established in 1980 and is a supplier of tiles to customers in the Singapore Market. The Company is offering 32.5m New Shares at $0.20 each for a Catalist listing and market cap is $32.5m post listing.

Personally i don't like the sector in which the Company is in as there are many competitors, low barriers of entry and cyclical in nature.  Revenue has remained stagnant from $29.9m in FY2008 to $30.8m in FY2009.  The net profit has declined from $3.4m to $3.0m.

The historical EPS (assuming service agreement in place and based on enlarged share cap) will be 2.16 cents and that translate into a historical listing PE of 9.3x (not cheap considering the sector it is in).

Avoid.
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