SKK Holdings Ltd

Singapore subsurface-utility contractor burning cash with a deep loss and near-immediate cash exhaustion.

Strengths

• Revenue grew ~17% (70th pct) with an established BCA workhead grading
• Diversified public-sector customers (PUB, Singtel)

Risks

• Cash runway ~0.5 quarter and current ratio 0.74 — near cash-out distress
• Net margin -22.5%, ROE -40% and bottom-2% net-income growth
• Nasdaq sub-$1 deficiency requiring a 10:1 reverse split to stay listed

Notable findings

• Net lossNet loss (net margin -22.6%)
• Cash burnNegative free cash flow (-5.6M)
• Weak liquidityCurrent ratio 0.74 (<1)
• Customer concentration~96% of revenue from one customer/distributor — If we fail to retain business relationships with our top five (5) key customers or secure new customers, our business may be adversely affected During the financial years ended December 31, 2025, 2