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Amid the the recovery and boom in the Singapore maritime and offshore sectors, one company -- Salt Investments -- has not made waves until now. Lately, the company has been making headlines with a trifecta of positive developments: an encouraging financial turnaround, a strategic partnership, and a private share placement. |
| Improving Margins and Narrowing Losses in 2Q FY2026 |
The latest financial results for 2Q ended 30 Sept 2025 (2Q FY2026) signal that Salt’s strategic pivot is bearing fruit.
Revenue amounted to S$3.9 million, largely driven by subsidiaries Prosper Excel and TT Oil.
More importantly, gross profit jumped 47.3% quarter-on-quarter to S$726,000, accompanied by a margin improvement to 18.5%.
This margin expansion reflects stronger operational efficiencies, helping net losses narrow by 14.2% quarter-on-quarter to S$365,000.
CEO Dennis Goh said: “This is just the beginning of our journey to scale our businesses in the maritime ecosystem. The continued momentum from Prosper Excel Engineering and TT Oil is translating into stronger margins and improved efficiency across our operations.”
| Combined strengths |
 “By combining our collection and logistics strengths with Mencast’s established marine waste treatment infrastructure, we are creating a comprehensive and commercially robust service offering that meets the rising sustainability and compliance demands of the global maritime industry”.-- CEO Dennis Goh |
A Green Leap: Strategic Collaboration with Mencast
In a major move toward sustainability, Salt (through Prosper Excel) has entered into an agreement with Mencast Holdings to jointly deliver integrated marine oily-waste management services.
Operating in Singapore—one of the world's busiest shipping hubs—the partnership will collect, treat, and responsibly process marine oily waste, slops, and sludge.
This initiative is not just about waste disposal; it focuses heavily on circular resource recovery.
The collaboration aims to convert these waste streams into usable recycled fuel oil.
Salt Investments recently completed a private placement, raising gross proceeds of S$4.8 million by issuing 1.74 billion new ordinary shares at S$0.00275 each.
This placement attracted institutional investors like Ginko-AGT Global Growth Fund, Lion Global Investors, and Value Partners Hong Kong. The net proceeds of S$4.6 million will be channelled into capital expenditures for growth initiatives, particularly in fuel bunkering, oil waste recycling, and marine lubricants. |
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→ See also:NAM CHEONG: 70% of Fleet on Long-Term Charters, Analyst Target Prices At 10-11x PE
