Ten-League International Holdings Ltd

Analysis for Ticker: TLIH

Ten League International Holdings Ltd provides heavy machines for ports and construction projects, but the business is a mathematical trap designed to favor its owners over its investors. The company is using a trick called a reverse stock split to hide a collapse in its value. They have crushed 10 shares into one to keep the price at 3,66$ so the exchange does not kick them out, but this does not fix the 14,4$ million they owe to their own boss. This debt is like a loaded gun because the chief executive officer can demand that money at any time, which would instantly empty the company treasury. They are stuck in a cycle of borrowing 16,9$ million just to keep operating, while they struggle to collect 4,7$ million from customers who are over four months late on their bills. The math is a disaster because the company is effectively a host being drained by a private parasite. The decay started in 2023, long before the public was invited to watch the decline. Before the company ever sold shares to the public, the chief executive officer Jison Lim and his wife Lin LiMing, who is the vice president, took 6$ million Singapore dollars out of the business as a private dividend. They emptied the box before handing it over to others. Then, on 08/07/2025, they asked the public to put 6,4$ million back into that same box through an initial public offering. The math was simple: replace the private wealth they took with public money from new investors. For exactly thirteen days, the stock stayed above the 1$ minimum price required by the exchange before it began to sink.