1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
JCSE
Event Date
2022-04-22
IPO Date (Actual)
2022-04-21
Sector
Industrials
Subsector
Industrials — Other
Offer Range
$4.00
Shares Offered
3M
Shares Outstanding Pre-IPO
5M
5M
$60.0M
60.0%
Implied Upside vs Midpoint
Description
Our Group’s history began in November 1999 when JCS was founded by Ms. Hong Bee Yin, our Chairman, executive Director and chief executive officer, and her then business partner, Mr. Yeo Hock Huat. Our Group commenced business in the selling of cleaning systems in 2005, before starting our business in the design, development, manufacture and sale of cleaning systems in Singapore in 2006. We manufacture a broad range of cleaning systems, including aqueous washing systems, plating and cleaning systems, train cleaning systems and other equipment. Since 2013, we have also been in the business of providing centralized dishwashing services for the food and beverage industry, mainly for food and beverage establishments in Singapore such as food courts, hawker centers, restaurants, cookhouses, eldercare homes and an inflight catering service provider. We have also provided general cleaning services since 2015, mainly for food courts in Singapore. Our mission is to be an industry leader in the cleaning systems and provision of centralized dishwashing services industry and in the design, development and manufacturing of precision cleaning systems industry. --- We were incorporated in the Cayman Islands on January 29, 2019. Our registered office in the Cayman Islands is at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111 Cayman Islands. Our principal executive office is at 3 Woodlands Sector 1, Singapore 738361. Our telephone number at this location is +65 6369 4198. Our principal website address is www.jecleantech.com.sg. Our agent for service of process in the United States is Cogency Global Inc., 122 E. 42nd Street, 18th Floor, New York, New York 10168.
JE Cleantech Holdings Ltd annual income statement and balance sheet, FY 2022 to FY 2025, as reported in SEC filings (SGD).
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Revenue | SGD 18.6M | SGD 18.0M | SGD 19.3M | SGD 20.3M |
| Gross profit | SGD 5.1M | SGD 4.4M | SGD 5.2M | SGD 5.8M |
| Operating income | SGD 1.8M | SGD 1.0M | (SGD 30.0K) | SGD 610K |
| Net income | SGD 1.2M | SGD 519K | SGD 32.0K | SGD 3.2M |
| Metric | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Total assets | SGD 35.5M | — | SGD 35.1M | SGD 33.0M |
| Total liabilities | SGD 19.2M | — | SGD 18.6M | SGD 13.2M |
| Total equity | SGD 16.3M | SGD 16.7M | SGD 16.5M | SGD 19.8M |
| Cash & equivalents | SGD 6.6M | — | SGD 5.7M | SGD 9.9M |