Skylink Holdings Limited · SGX:XZB
Skylink — Merger or Acquisition (September 2025)
31 slides from Skylink's merger presentation, September 2025
Slide 1: Overview of the Proposed Acquisition of Skylink APAC Pte Ltd as a Reverse Takeover
OVERVIEW OF THE PROPOSED ACQUISITION OF SKYLINK APAC PTE LTD AS AN REVERSE TAKEOVER September 2025
Slide 2: Important Notice
Important Notice This presentation is prepared for information purposes only, without regard to the objectives, financial situation nor needs of any specific person. Neither this presentation nor any of its content may be distributed, reproduced, or used without the prior written consent of Skylink
Slide 3: Content
Content 1 2 3 Key Investment Indicative Timetable Overview of RTO Highlights of Skylink APAC
Slide 4: Overview of RTO
Overview of RTO
Slide 5: RTO Key Transaction Terms
RTO Key Transaction Terms Total consideration for the Proposed Acquisition of Skylink S$42.3 million APAC by the Company Base Consideration S$28.3 million 122,222,222 - S$27.5 million in shares Base Consideration Shares at - S$0.8 million in cash S$0.225/share Deferred Consideration S$14.0 million -
Slide 6: Placement and Use of Proceeds
Placement and Use of Proceeds Placement S$4.2 million 21,000,000 Shares at S$0.20/share (15,000,000 New Shares + 6,000,000 Vendor Shares) 11% discount to RTO Issue Price Convertible Bonds S$5.0 million Only available 8% interest per annum, payable half-yearly, 3 years tenure to placees of Conversion
Slide 7: RTO Shareholding Structure
RTO Shareholding Structure What does it mean for shareholders and investors? As at Latest Practicable SPA Completion/ Issuance of Deferred Conversion of Convertible Date Listing Consideration Shares Bonds Total Interest % Total Interest % Total Interest % Total Interest % Shareholders under moratori
Slide 8: Key Investment Highlights
Key Investment Highlights
Slide 9: Company Overview
Company Overview One of the largest commercial vehicle leasing companies in Total principal loan 7 workshop units** in Singapore* with 1,239** book of ~S$65.41 mil** Wcega Plaza commercial vehicles Since its founding in 2017, the Target Company has become one of the largest commercial vehicle leasin
Slide 10: Key Investment Highlights
Key Investment Highlights Market leader is well-positioned for 1 growth amid M&A opportunities Placement S$4.20 million High growth company to become one New Shares: S$3.0 million 2 of the largest commercial vehicle Vendor Shares: S$1.2 million + leasing companies within 7 years Scalable business mo
Slide 11: Market leader is well-positioned for growth amid M&A opportunities
Key Investment Highlights 1 Market leader is well- positioned for growth amid M&A opportunities
Slide 12: Skylink is one of the leading leasing companies in Singapore
Key Investment Highlights Skylink is one of the largest commercial vehicle leasing companies in Singapore with 1,239 commercial vehicles Main Competitors in terms of commercial vehicle fleet size, share capital & service offerings According to Independent Market Report, the Commercial Vehicle Leasin
Slide 13: Commercial Vehicle Leasing market expected to grow by CAGR 9.14%-11.10%
Key Investment Highlights Market size of Commercial Vehicle Leasing Industry in SG is expected to grow by CAGR 9.14%- 11.10%, with increasing M&A activities among established players Range for the Estimated Market Size of the Commercial Vehicle Leasing Industry in Singapore (S$mn) • The market size
Slide 14: High growth company to become one of the largest leasing companies within 7 years
Key Investment Highlights 2 High growth company to become one of the largest commercial vehicle leasing companies within 7 years
Slide 15: High growth company and steep increase in loan book within 7 years
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years Main Competitors in terms of vehicle fleet size & service offerings Estimated Commercial Company Established Fleet Size • Skylink took only 7 year
Slide 16: Income Statement
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years Income Statement (S$’000) 26,373 (%) FY2023 FY2024 FY2025 CAGR 77.9% Gross profit margins 19.9 33.9 25.7 15,011 Net profit margins 8.0 13.5 10.4 8
Slide 17: High growth company and steep increase in loan book within 7 years
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years
Slide 18: Fleet size and loan book growth
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years Fleet size Loan book (S$’m)* 1,231 66.4 60.5 642 24.2 215 FY23 FY24 FY25 FY23 FY24 FY25 • Strategic management of fleet size based on changing bus
Slide 19: Minimum Contract Amount
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years Minimum Contract Amount (S$’m) Commercial Vehicle Credit Segment Leasing Segment Within 1 year S$7.6m S$23.4m Within 1 year After 1 year within 5
Slide 20: Strong growth in balance sheet
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years Strong growth in balance sheet (S$’000) FY2023 FY2024 FY2025 Total assets 42,424 84,099 111,056 • Leveraged-play business model drives high scalab
Slide 21: Cash Flow Statement
Key Investment Highlights 2 High growth company as one of the largest commercial vehicle leasing companies and steep increase in loan book within 7 years Cash Flow Statement (S$’000) FY2023 FY2024 FY2025 • Strong operating cash flows • Healthy cash flows and cash balances Net cash generated from 1,3
Slide 22: Scalable business model powered by the Skylink Ecosystem
Key Investment Highlights 3 Scalable business model powered by the Skylink Ecosystem
Slide 23: Scalable business model powered by the Skylink ecosystem
Key Investment Highlights 3 Scalable business model powered by the Skylink ecosystem 3. Expansion of Leasing Fleet for income-producing asset-base 2. Re-invest profits + Injection of shareholder’s equity + additional facilities from banks 4. Leverage asset-backed banking facilities to expand loan bo
Slide 24: Strong leadership team with proven execution capabilities
Key Investment Highlights 4 Strong leadership team with proven execution capabilities
Slide 25: Strong leadership team with proven execution capabilities
Key Investment Highlights 4 Strong leadership team with proven execution capabilities Non-Independent Executive Director and Chief Financial Chief Operating Non-Executive Chairman Chief Executive Officer Officer Officer Teh Wing Kwan Wesley Shen Leonard Teh Johnson Shen Sophisticated Investor and Aw
Slide 26: Founder and CEO Profile – Mr Wesley Shen
Founder and CEO Profile – Mr Wesley Shen Educational background: - Diploma in Mechatronics, Temasek Polytechnic 2006 - MBA from Singapore Management University, SMU 2022 - Mergers & Acquisitions Programme from Fudan University (复旦大学) since 2024 Skylink and Wesley's achievements: Sgcarmart Singapore
Slide 27: Skylink Growth Journey
Skylink Growth Journey • Wesley left his hometown in Guilin, China to pursue a diploma in Singapore in 2003 and an MBA from SMU in 2022 • Started career in SIA • Scaling business operations • Relocation to Wcega Plaza, • Founded Skylink with small fleet Engineering before and achieving stable includ
Slide 28: Skylink EcoSystem
Skylink EcoSystem CURRENT FUTURE Skylink Auto Target Group (part of RTO) Organic expansion of business Skylink Vehicle Rental • Expand commercial vehicles fleet • Expand loan book • Expand Engineering capacity Skylink Credit Expansion through M&A, joint venture Skylink and/or strategic alliances • W
Slide 29: Indicative Timetable
Indicative Timetable
Slide 30: Indicative Timetable
Indicative Timetable Key Milestones Date EGM of the Company 11 September 2025 - Completion of Proposed Acquisition 15 September 2025 - Expected allotment and issue of the Base Consideration Shares, Settlement Shares, the New Placement Shares, completion of the sale of the Vendor Shares - Issue of Co
Slide 31: Contact Details
Contact Details Skylink Holdings Limited Tel: (65) 6266 5858, Leonard Teh, ir@skylink.com.sg SAC Capital Private Limited Tel: (65) 6232 3200, Tan Kian Tiong, tankt@saccapital.com.sg Investor Relations Tel: (65) 9718 0269, Isaac Tang, skylink@wer1.net
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