Hoe Leong

What Hoe Leong does

Hoe Leong is a Singapore-based, publicly listed manufacturer of heavy equipment and spare parts, founded in 1957 and trading on the Singapore Exchange under the ticker H20. The company operates with a small workforce of 51-100 employees and serves industrial customers requiring heavy machinery components and replacement parts, likely spanning construction, infrastructure, and adjacent heavy-industry segments.

The company's revenue has remained in a narrow band around $38M-$44M across 2022-2025, with the most recent year (2025) reporting $38.5M. While the topline has been flat, profitability has materially improved: gross profit expanded from $3.2M in 2022 to $9.6M in 2025, and operating income swung from a $4.9M loss in 2022 to a $1.22M gain in 2025. Net income, however, remains modest at $0.47M in 2025, indicating thin absolute margins despite the operating recovery.

Hoe Leong's business model appears to be a traditional B2B industrial supplier generating revenue through equipment sales and spare parts distribution. No pricing model specifics, customer segmentation data, channel details, or technology platform are disclosed in the available material. Public-company financial disclosures represent the primary observable data source, with the company website (hoeleong.com) returning only a loading placeholder and offering no further product or go-to-market detail.

Name

Hoe Leong

Website

http://www.hoeleong.com

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

51–100 employees

Short description

Hoe Leong is a Singapore-based, SGX-listed manufacturer of heavy equipment and spare parts, founded in 1957, serving industrial and infrastructure customers with a workforce of 51-100 employees.

Ownership category

akta.pro rank

Product category

Heavy Equipment Manufacturing

NAICS

Industrial Machinery Manufacturing (3332), Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (333923)

SIC

Construction, Mining & Materials Handling Machinery & Equip (3530), Wholesale-Industrial Machinery & Equipment (5084)

akta.pro primary industry

Crane & Hoist Components (Wire Rope, Chain, Drums, Sheaves, Motors, Controls) (IMAHAJAK)

akta.pro secondary industry

Cranes, Hoists & Overhead Material Handling (Industrial) (IMAHABAE)

Keywords

• Heavy equipment manufacturing
• Industrial machinery parts
• Equipment spare parts
• Heavy machinery components
• Industrial equipment supply

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure

Core offering

Hoe Leong manufactures heavy equipment and supplies spare parts for heavy and industrial machinery. The company is publicly listed on the Singapore Exchange and has operated in the industrial equipment sector since 1957.

Differentiator

Problem solved

Functional benefit

Products and services

• Heavy Equipment
• Industrial Machinery Spare Parts

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves2 records

Expansion highlights1 record

Broad incumbents

• Caterpillar: Largest global heavy equipment OEM with a massive aftermarket parts business. Comparable as the dominant incumbent whose installed fleet generates the replacement-parts demand Hoe Leong also serves.
• Liebherr: Privately-held global manufacturer of cranes, earthmoving, and heavy industrial equipment. Comparable broad incumbent whose installed base drives aftermarket spare-parts demand — the same dynamic Hoe Leong depends on.
• Konecranes: Global leader in cranes, hoists, and material-handling equipment. Comparable as the dominant incumbent in Hoe Leong's core product category, including spare parts and service.
• Manitowoc Company: US-listed manufacturer of cranes and lifting equipment. Comparable broad incumbent in the heavy lifting / material handling equipment category that Hoe Leong serves with components and parts.

Direct peers

• Tiong Woon Corporation: Singapore-listed (SGX) heavy lifting and crane services provider. Directly comparable to Hoe Leong because both are SGX-listed industrial equipment names serving Singapore and SE Asia construction/infrastructure customers.
• Tat Hong Holdings: Singapore-listed heavy equipment leasing and distribution group. Directly comparable as a regional heavy-equipment operator and parts provider overlapping with Hoe Leong's customer base and product mix.
• Sin Heng Heavy Machinery: Singapore-based dealer and distributor of heavy equipment (Komatsu, etc.) including spare parts. Closely comparable in terms of size, geography, and the equipment-and-parts business model.
• Ban Leong Technologies: Singapore-listed IT and industrial distribution company. Comparable as a Singapore-based small-cap SGX distributor of industrial/technology products with a similar revenue scale and aftermarket service orientation.

Regional players

• Hiap Hoe Ltd: Singapore-listed property/construction group that operates heavy equipment and machinery divisions. Comparable as a regional Singapore player exposed to similar construction capex cycles, though with broader property exposure.
• TEE International: Singapore-listed engineering and infrastructure group with exposure to industrial equipment and M&E services. Comparable as a SE Asia regional player operating in adjacent industrial/infrastructure segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/hoe-leong-corporation-ltd

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hoe Leong