HomesToLife Receives Conditional Eligibility for Secondary Listing in Singapore Ahead of Shareholder Vote
Key Facts
HomesToLife said it had received a conditional eligibility letter for listing from the Singapore Exchange and issued the introductory document for a proposed secondary listing by way of introduction on the Mainboard. In a statement published by GlobeNewswire, the company said the letter was issued by SGX-ST, while the listing conditions have not yet been met. Under exchange rules, the listing will not be permitted until all conditions in the eligibility letter are fulfilled. The company’s admission to the official list remains at the exchange’s discretion. The step puts the proposal at an advanced regulatory stage, but does not mean shares will begin trading in Singapore.
The company said in an earlier disclosure that the secondary listing was part of its long-term strategy to strengthen its presence in capital markets and support business development initiatives. It said the plan was not intended to change the controlling shareholders or management. It also said implementation remained subject to regulatory review, approvals and satisfaction of listing requirements. The introductory document and eligibility letter form part of that process, while regulatory conditions and the internal vote remain steps to be completed before any listing. The company thus links the move to its growth and business development plan, while keeping its ownership control and management structure unchanged.
Shareholders are set to meet at an extraordinary general meeting on 27 October 2026 at 10:00 a.m. Singapore time to vote on amendments to the constitution and proposals related to the listing. The first proposal concerns adopting a revised constitution to meet SGX-ST requirements. The meeting requires the attendance of shareholders representing at least one-third of the voting shares. The first proposal also requires approval by at least two-thirds of votes cast, while the second requires a simple majority. The vote, alongside satisfaction of regulatory conditions, is therefore a necessary step before the listing can proceed.
The company’s results for the first half of 2026 showed revenue growth, with net revenue reaching 198.305 million dollars, up 10% year on year. Export revenue rose 11% to 186.293 million dollars, compared with 168.009 million dollars in the corresponding period of 2025. Performance varied by region: revenue rose 12% to 123.660 million dollars in Europe and 27% to 27.966 million dollars in North America. By contrast, Asia-Pacific revenue fell 4% to 46.680 million dollars. The divergence reflects the period’s growth relying on European and American markets, alongside a contraction in sales in Asia-Pacific.
At the operating-profit level, gross profit rose 14% to 56.994 million dollars in the first half of 2026, from 49.833 million dollars a year earlier. The gross margin widened to 28.7% from 27.6%. But the company said net income was affected by a foreign-exchange loss of 2.2 million dollars, compared with a gain of 4.3 million dollars in the first half of 2025. It added that net income, excluding the foreign-exchange impact, would have risen 22% to 7.9 million dollars. Chief Executive Fua Vee Ming said the first half showed “the strength of our business fundamentals and the advantages of our diversified global strategy,” while expressing optimism about coming opportunities despite market uncertainty.
Cash outflow from operating activities improved to 8.3 million dollars in the first half of 2026, down 26% from 11.3 million dollars in the same period a year earlier. Cash and cash equivalents stood at 17.9 million dollars on 30 June 2026. As for its published outlook, the company kept its fiscal 2026 revenue guidance at a range of 400 to 420 million dollars and said it expected stable sales growth for the rest of the year. The stock’s closing price, according to EL7 data, fell from 1.78 dollars on 20 October to 1.64 dollars on 22 October 2026. The company has not announced a completion date for the listing, which remains subject to the vote outcome and fulfillment of exchange conditions.