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. đť•Ź 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. đť•Ź Posts
Discussion
1. Investment Snapshot
2. Valuation
Discussion
Symbol
SMJF
Event Date
2025-12-04
Sector
Materials
Subsector
Paper & Forest Products
Offer Range
$4.00
Shares Offered
2.5M
27.5M
$110.0M
9.1%
Implied Upside vs Midpoint
Description
With an established distribution network in more than 20 countries and a track record of over 35 years, we believe that we are one of the leading Singapore-based premier flooring specialists that has a well-established reputation and track records with the commercial and institutional sectors in Asia. We specialize in the sale and distribution of a wide range of premier flooring products such as carpet tiles, broadloom carpets and vinyl tiles under our proprietary brand known as “SMJ” in Singapore and over 20 countries mainly in Asia. These overseas markets include Malaysia, Indonesia, Philippines, Hong Kong, PRC, Taiwan, Korea, Thailand, Vietnam, Brunei, India, Sri Lanka, United Arab Emirates, Saudi Arabia, Maldives, Brazil, Uruguay, Chile, Australia, Kuwait and the United Kingdom. To meet the increasing demand for green and eco-friendly materials in Asia, we also supply flooring products that have been certified as environmentally friendly to support government initiatives in promoting sustainable building practices in Asia. As at the date of this Prospectus, our premier flooring products are mainly marketed through our extensive distribution network of more than 260 dealers, importers and installation companies that made at least one purchase in each of the 2024 and 2025 fiscal years. These customers usually make bulk purchases from us on wholesale basis and will in turn sell and distribute them primarily to a wide range of end-users in the commercial and institutional sectors including private and government offices, business premises, educational institutions, banks, hospitals, hotels and other premises. We also sell our flooring products to property developers of commercial buildings, professional firms such as architecture, interior design and renovation firms, as well as owners or tenants of commercial spaces. These customers may require us to provide professional installation services for renovation projects carried out in Singapore. We distinguish ourselves from competitors by maintaining a comprehensive inventory of flooring products in various designs and colors, readily available for sale. Our head office and corporate showroom are located in Singapore at 31 Jurong Port Road, #02-20 Jurong Logistics Hub, Singapore 619115. We have a centralized warehousing facility located at 31 Jurong Port Road, #01-25/26/27/28/29/30 Jurong Logistics Hub, Singapore 619115 with a floor area of approximately 42,614 sq ft. We currently maintain approximately 80 different designs of flooring products in up to 400 different colors. We also maintain a real-time inventory management system which is updated daily to allow us to check on the availability of our inventory and enable us to manage our stock level efficiently. Equipped with a good inventory management system, our turnaround time to fulfil our customers’ orders is greatly reduced, thereby allowing us to respond to our customers’ orders within the next working day (if the stocks are readily available). The short turnaround time from order to delivery is crucial as we serve the commercial and institutional sectors where our customers will have to complete flooring installation and renovation of their premises within a few weeks’ time of rent-free fitting out period. Due to the wide variety of our flooring products stocked in different designs and colors and our ability to fulfil orders within a short turnaround time without the need to wait for the manufacturing process, we gain a competitive edge over our peers in the marketplace. When placing orders with us, overseas customers have the flexibility to select a diverse range of designs and colors in varying quantities from our available stock. This enables the consolidation of multiple products into a single shipment, maximizing efficiency and minimizing shipping costs. This also enables us to meet our customers’ requirements efficiently, avoiding the extended timelines typically required for the production and shipment of such flooring products from overseas. Our commitment to service quality, efficiency, reliability, and competitive pricing has solidified our position in the market. With our ready stock of products, we are able to cater to our clients’ fast paced projects. We derived approximately 59.7% and 52.8% of our revenue from Singapore market for the financial years ended March 31, 2024 and 2025, respectively. The balance of our revenue is derived from overseas markets. --- Our principal place of business is at 31 Jurong Port Road #02-20 Jurong Logistics Hub Singapore 619115 and our phone number is +65 62611212. Our registered office in the Cayman Islands is Harneys Fiduciary (Cayman) Limited, 4th Floor, Harbour Place, 103 South Church Street, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands. Our agent for service of process in the United States is Cogency Global Inc. Our corporate website is https://smjf.com.sg.