Koh Brothers Eco Engineering shares up 32% on proposed transfer to mainboard

[SINGAPORE] Shares of Koh Brothers Eco Engineering were up 32 per cent or S$0.042 at S$0.174 as at 9.40 am on Thursday (May 28), after it announced that it had submitted an application for a transfer to the mainboard on the Singapore Exchange (SGX).

By that time, around 49.6 million shares had changed hands.

As at 11.15 am, the counter was up 27.3 per cent or S$0.036 at S$0.168, with nearly 69.2 million shares exchanged.

The company is a subsidiary of construction and property group Koh Brothers, which holds a 54.8 per cent stake in the unit.

Shares of parent company Koh Brothers were up 10 per cent or S$0.04 at S$0.44 as at 9.46 am.

The board of Koh Brothers Eco Engineering said listing on the mainboard will enhance the long-term value for the company’s shareholders. The company has been listed on the Catalist board of SGX since Feb 27, 2006.

The transfer “would better reflect the company’s current stage of development and future growth trajectory”, the board said.

The board expects the proposed transfer to enhance the company’s credibility and visibility with key stakeholders, including customers, suppliers, lenders and prospective strategic partners.

Having a mainboard status also provides “improved peer comparability” within the larger-capitalisation segment and reinforces the group’s corporate profile, it added.

SEE ALSO

Oiltek to ‘actively review’ capital structure after stock-split query

Koh Brothers Eco Engineering proposes transfer to SGX mainboard

Earlier this year, shares of Koh Brothers Eco Engineering also jumped when its majority-owned unit Oiltek crossed S$1 billion in market capitalisation. The company owns 68.1 per cent of Oiltek, but is valued at just about S$372 million. The subsidiary is valued at around S$871 million as at Thursday.

Oiltek’s recent gains, which were likely propelled by rising oil prices due to the conflict in the Middle East, led it to become the first and only Catalist-origin stock with a market cap exceeding S$1 billion. It moved to the mainboard in June 2025.