TLIH | Market Cap: $14.7M (07/13/26)
Industry:
Capital Goods
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DESCRIPTION

Ten-League is a Singapore-based heavy equipment provider serving the port, construction, civil engineering, and underground foundation industries. The company operates through three business lines: equipment sales, equipment rental, and engineering consultancy. On the sales side, Ten-League sources heavy equipment — primarily from SANY, its key supplier — and resells it to customers; product categories include foundation drilling rigs, crawler and rough terrain cranes, excavators, and port machinery such as reach stackers and empty container handlers. Ten-League also maintains an owned fleet available for short- to medium-term rental. Its engineering consultancy business offers value-added services including equipment retrofitting, IoT-based fleet monitoring, and EV charging infrastructure deployment. Ten-League's customers are primarily construction and infrastructure companies in Singapore, many working on government projects. Revenue is project-driven and transactional, with no long-term contracts, making demand lumpy and tied to project awards. SANY purchases accounted for roughly 65% of cost of revenue in FY2025, and Ten-League's long-term preferred partner status with SANY is central to its competitive positioning on price and supply. The company is also pursuing EV-related growth, supplying fully electric port machinery and building associated charging infrastructure, supported by Singapore government electrification policy.

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