Multi Ways Holdings Ltd
multiwaysholdings.comWhat Do They Do?
Sells and rents new and used heavy construction equipment, and provides equipment servicing and maintenance, to construction and mining contractors and oil-and-gas customers in Singapore and the surrounding region.
20-F for FY2025, filed May 8, 2026We are a supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more…View ↗
Complementary to the heavy construction equipment products offered for sale and rental by us, we also offer services to our customers, such…View ↗
Our customers operate in various industries which range from the infrastructure and building construction industry, including piling and…View ↗
How Do They Make Money?
Equipment sales are billed when products are invoiced and shipped; rental income comes in over the lease term while the equipment is available, and service income is earned as repair work is carried out.
20-F for FY2025, filed May 8, 2026Product sales consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product…View ↗
Equipment rental business is governed by our standard rental contract. The Company accounts for the rental of heavy construction equipment…View ↗
Our Company acts as a principal in heavy industrial equipment repairs, rather than an agent, because we maintain control of the service…View ↗
2025 2024 2023 Financial Years Ended December 31, 2025 2024 2023 US$’000 US$’000 US$’000 Sales at a single point in time Equipment Sales…View ↗
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20-F for FY2025, filed May 8, 2026
FY2025 revenue by product or service ↗
$44.8M
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20-F for FY2025, filed May 8, 2026
$44.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Equipment Sales
Sold outright
20-F for FY2025, filed May 8, 2026 |
74%
FY2022: 84%
|
Equipment Sales, FY2025
$33.1M Sources
|
Sold outright |
|
Services
Sold outright
20-F for FY2025, filed May 8, 2026 |
9.8%
FY2022: 6.1%
|
Services, FY2025
$4.4M Sources
|
Sold outright |
|
Sales at a Single Point in Time
Sold outright
20-F for FY2025, filed May 8, 2026 |
84%
FY2022: 90%
|
Sales at a Single Point in Time, FY2025
$37.5M Sources
|
Sold outright |
|
Rental
Recurring
20-F for FY2025, filed May 8, 2026 |
16%
FY2022: 9.9%
|
Rental, FY2025
$7.3M Sources
|
Recurring |
Who Are Their Customers?
Construction and mining contractors, along with oil-and-gas and marine businesses, buy equipment and related services. Customers contact the company through referrals or its website and enter sales agreements directly.
20-F for FY2025, filed May 8, 2026
20-F for FY2025, filed May 8, 2026
Do Revenues Turn Into Profits?
Not on paper. It lost $433K in FY2025, but brought in more cash than it spent: $6.2M of free cash flow.
20-F for FY2025, filed May 8, 2026
$772KView ↗
20-F for FY2025, filed May 8, 2026
−$433KView ↗
20-F for FY2025, filed May 8, 2026
$6.2MView ↗
How Are They Changing?
Growing. Revenue grew 34% in 4 years, from $33.4M in FY2021 to $44.8M in FY2025, about 8% a year.
Who Do They Compete With?
Competes with Tat Hong Holdings, Sin Heng Heavy Machinery, Antar Cranes Services, and INA Heavy Machinery & Equipment
20-F for FY2025, filed May 8, 2026We operate in the heavy construction equipment sales business, which is highly competitive. The heavy construction equipment rental market…View ↗
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