Singapore Overview
Financial Performance
Business Operations & Assets
Business Details
Reason For Sale
Description
- Asking Price: S$1,150,000
- Annual Revenue: S$2.45M (stable over 3 years)
- Adjusted EBITDA: S$395,000
- Established: 2013
- Staff: 13 full-time internal staff, plus about 35 deployed contract staff
- Structure: Private Limited
Business Overview:
- Owner-managed HR firm serving SMEs and foreign companies setting up in Singapore
- One-stop model: contract staffing, recruitment, payroll, HR advisory, and work pass support
- Over 55% of revenue is recurring, from contract staffing, monthly payroll, and retained HR contracts
- Consistent, predictable performance with a stable client base
Services and Revenue Mix:
- Contract staffing (deployed contractors billed monthly): 30%
- Permanent recruitment & headhunting: 27%
- Payroll outsourcing & CPF/IRAS administration: 21%
- HR advisory (handbooks, policies, TAFEP compliance, disputes): 11%
- Work pass services (EP, S Pass, Dependant's Pass): 7%
- Training workshops (SkillsFuture-eligible): 4%
Contract Staffing Division:
- About 35 contractors deployed across 18 client companies
- Roles include admin, finance, customer service, IT support, and logistics
- Average assignment length: 12 months, with a high renewal rate
- Contractors employed on the company's payroll; client billed monthly at a markup
- Gross margin on contract staffing: about 20%
- Many contract roles convert to permanent placements, creating additional fees
Financial Snapshot:
- FY2023: Revenue S$2.44M, Adjusted EBITDA S$390K
- FY2024: Revenue S$2.47M, Adjusted EBITDA S$398K
- FY2025: Revenue S$2.45M, Adjusted EBITDA S$395K
- Revenue includes gross contract staffing billings (contractor salaries included)
Clients:
- About 140 active clients, mostly SMEs with 10–200 employees
- Key sectors: tech, F&B, logistics, professional services, regional HQs
- No single client above 7% of revenue
- Average payroll client tenure: 5+ years
- Around 80% of new business comes from referrals
Team and Operations:
- 5 recruitment consultants
- 1 contract staffing coordinator
- 3 payroll executives
- 2 HR advisors
- 1 operations manager
- 1 admin executive
- MOM Employment Agency licence held
- Work injury compensation and group insurance in place for deployed contractors
- Cloud-based payroll, timesheet, and applicant tracking systems
- PDPA-compliant processes documented
Reason for Sale: Owner retiring and relocating
Deal Requirements:
- Buyer to appoint a CEI-certified key appointment holder
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