kopi-C with Reclaims Global CEO: How earthworks and recycling lay the foundation for the Group’s next phase of growth

When a contractor finds themselves at the start of a construction project with an urgent problem—it could be a collapsing structure, a hidden foundation, or a timeline suddenly at risk— Reclaims Global CEO Tan Kok Huat shares that he is often the first person they reach. 

“People call us because they know we will show up and get the work done properly and timely,” he says. 

This reputation, he emphasises, has been earned through years of consistency. Employees tend to stay with the company for long stretches, and many of Reclaims’ machine operators have worked with Tan for more than a decade.

“Technical skill can get you so far,” Tan says. “But trust and teamwork are what make a project succeed.”

Together with Executive Chairman Chan Chew Leh, Tan has built Reclaims into a business that has been consistently profitable since its listing in 2019. 

In November 2025, Reclaims announced new contract wins with an aggregate value of S$25.8 million. 

The Work that comes before Construction

When construction is mentioned, it might call to mind towering cranes and scaffolding. For Reclaims, they operate in the front phase before any building emerges from the ground.

Today, Reclaims is in the business of the unglamorous but critical foundation of Singapore’s built environment: excavation, demolition, land-clearing, recycling of construction waste, and the logistics of moving materials across the island.

Their activities span three interconnected areas. 

There is excavation and demolition, which involves clearing land, tearing down structures, and preparing sites for redevelopment. Then there is the recycling of construction and demolition waste. Typically, this means crushing debris into recycled aggregates that is typically used for foundations and roads and the production of ready-mixed concrete.

Finally, there is the logistics and machinery leasing—moving raw materials around the island and providing heavy equipment to contractors.

Excavation prepares the ground, demolition clears what’s old, and recycling turns waste into materials that can be used again. Without these steps, construction simply can’t happen, and sustainability goals cannot be supported. 

Singapore’s long-term development blueprint has created a structural tailwind for companies like Reclaims. Infrastructure renewal, coastal protection works, new waterfront districts, and underground infrastructure upgrades—almost all these projects begin with excavation and demolition.

Then there is Singapore’s Green Plan 2030, which has placed heavy emphasis on recycling and sustainable construction. Tan anticipate sustained demand for recycled materials.

“We think it’s possible that future buildings may need to include a certain percentage of recycled products,” Tan says. “If that happens, it aligns perfectly with what we already do.”

Reclaims is one of the few players with an integrated model that links demolition directly to recycling. They hope that what they tear down today will become part of tomorrow’s roads and infrastructure.

Margin over volume

Tan highlights that Reclaims has always taken a more cautious approach when it comes to project bidding.

“Some companies go for the top line,” he says. “But if the margin is only 1% or 2%, it’s very risky. We prefer to be prudent.”

This philosophy guides how the company bid for its projects. Tan explains that instead of chasing headline-grabbing projects, Reclaims focuses on projects that yield healthier margins, aiming for about 10% on average.

This strategy has kept the company profitable every year since its 2019 listing.

“We want the company to be stable,” Tan says. “That’s more important than chasing big numbers.”

In FY2025, Reclaims delivered an 83% increase in revenue of S$44.31 million with net profit increasing 267% to S$5.6 million. 

In the first half of 2026, revenue grew by nearly 15% year-on-year to S$21.8 million with net profit of S$2.5 million.

Over the last two financial years, the Group’s dividend payout was at least S$0.01 per share. And for first half of 2026, the Group issued an interim dividend of S$0.005 per share.

In for the long haul 

Even capital raising is done conservatively. In late 2025, Reclaims completed its first ever share placement of S$7.8 million since its IPO listing in 2019 to renew machinery and strengthen capacity for upcoming projects, including potential coastal protection work.

Tan shares that they could easily have directed profit into dividends. Instead, they reinvested it in the company.

“It’s not just about taking money out and sharing with shareholders,” Tan explains. “It’s about making the company stronger for the future.”

In December 2025, Reclaims announced the strategic acquisition of a freehold commercial property—an investment that strengthens the Group’s long-term resilience while unlocking future growth opportunities.

Located at 291 Serangoon Road, Singapore 218107, the corner freehold commercial building sits just a 3-minute walk from Farrer Park MRT station, and is surrounded by key landmarks such as City Square Mall and Farrer Park Hospital. The 6-storey property, complete with a basement carpark, has a site area of 506.8 square metres.

Reclaims plans to redevelop the building to enhance efficiency and increase its net lettable area. With a prominent 35-metre dual-road frontage, the property is positioned in a vibrant and highly connected area supported by strong amenities and natural footfall drivers—making it a high-visibility asset with compelling long-term potential.

As Singapore embarks on its next decade of transformation, perhaps it is companies like Reclaims that will help lay the foundations.

About Reclaims Global Limited 

Listed on the Catalist of the SGX-ST in March 2019, Reclaims Global Limited is an eco-friendly integrated service provider within Singapore’s construction industry, specialising in the customisation of excavation/demolition/building construction solutions, operating fleet management of construction vehicles and equipment as well as the recycling of construction and demolition waste. 

The Group’s integrated and synergistic business model is organised into three main business segments as follows: (1) excavation services; (2) logistics and leasing; and (3) recycling. 

Since its inception in 2009, the Group has established a strong reputation and proven track record for reliable execution and timely delivery of diverse projects across the construction sector.

About kopi-C: the Company brew

kopi-C is a regular column by SGX Research in collaboration with Beansprout, a MAS-licensed investment advisory platform, that features C-level executives of leading companies listed on SGX. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.