SKK Holdings Ltd (NASDAQ: SKK)

SKK Holdings Ltd is a civil engineering service provider that specializes in subsurface utility works in Singapore. The company focuses on planning constructing and maintaining public works and infrastructure projects such as power and telecommunication cable laying water pipeline works and sewer rehabilitation. It operates primarily under contracts awarded by government agencies and utility firms and has over ten years of experience in the local market. SKK Holdings Ltd was incorporated in the Cayman Islands in March 2023 and through its subsidiaries SKK Works and SKK M&E delivers its services to customers across the island.

Revenue is generated from three main activity groups cable or pipe laying works pipeline and sewerage repair and maintenance and other services which include service fees labor charges machinery rental transportation and maintenance works. In the fiscal year ended December 31 2025 cable or pipe laying works contributed approximately 73 percent of total revenue while pipeline and sewerage repair and maintenance accounted for about 24 percent and other services made up the remaining 3 percent. Customers typically pay through progress payments tied to milestone completion and the company secures performance bonds equal to five percent of the contract sum when it acts as the main contractor. The firm's client base consists of government agencies utility companies and main contractors that require subsurface utility installation and repair.

The company operates through the following segments.

• SKK Works is engaged in construction installation with a focus on communications and power line construction as well as subsurface utility works including underground piping works underground utility infrastructure construction and maintenance and horizontal directional drilling works in Singapore.

• SKK M&E provides construction installation services for water and gas pipeline and sewer construction and also performs subsurface utility works such as underground piping works underground utility infrastructure construction and maintenance horizontal directional drilling works sewer rehabilitation plumbing and sanitary works primarily for smaller scale projects in Singapore.

SKK Holdings Ltd holds a strong position within Singapore's civil engineering services sector where it is recognized as one of the five major contractors for horizontal directional drilling works. The company benefits from an established track record of over ten years delivering timely reliable and cost efficient projects covering power and telecommunication cable laying water pipeline and sewer rehabilitation. It holds ISO 9001 ISO 45001 and bizSAFE Level Star certifications which demonstrate its commitment to quality safety and environmental management. Competitive advantages include an experienced management team led by the founder who has more than twenty eight years of industry experience a modern fleet of fifteen horizontal directional drilling rigs twenty two excavators thirty five vehicles and a workforce of over 170 skilled employees. The firm competes against numerous local contractors as well as international players from China India Australia and Europe with Frost Sullivan estimating roughly two hundred market participants in the subsurface utility niche and fewer than thirty specializing in horizontal directional drilling.

The company's customers are principally government authorities utility companies and main contractors that undertake public utility infrastructure projects in Singapore. Among its major clients are the Public Utilities Board and Singapore Telecommunications Limited which together account for a significant portion of revenue. SKK Holdings Ltd also works with various other public agencies and private firms that require subsurface utility installation maintenance and repair services. The customer base is diversified across sectors but remains concentrated in a few key accounts that have long standing relationships with the group.