Wong Fong Industries Limited ("Wong Fong" or the "Company") is placing out 43m shares at $0.23 each for a listing on Catalist. There is no public offering and the offer will close on 26 July at 12pm. The market cap at IPO will be $54.1m   The Company is a provider of land transport engineering solutions and systems for various industries with a presence in Singapore, Malaysia and the PRC. The core businesses are:

• sale and installation of equipment
• design, customisation, engineering and integration of equipment and solutions
• servicing and maintenance support
• conducting training courses for industrial equipment users

Financial Highlights   As you can see from the table above, revenue from equipment sale made up more than 75% of the revenue each year with more than 90% of them derived from Singapore. As such, i will consider Wong Fong more of a Singapore-based business. Revenue and profitability has been ......