Skylink raises S$5 million for commercial-vehicle financing
The fully subscribed bond issue funds its hire-purchase business; additional lending and a loan book above S$100 million remain company projections.
Skylink Holdings has completed a fully subscribed S$5 million bond issue to fund its commercial-vehicle hire-purchase business, the Singapore company announced on 19 October. The proceeds are earmarked for a credit operation serving customers buying new and used commercial vehicles, as well as those seeking refinancing.
The completion follows the company’s announcement of the financing terms on 30 September. Skylink said the net proceeds would be used to originate additional hire-purchase loans and expand its portfolio, with organic growth and acquisitions among the possible routes for developing the credit business.
Two-year funding for the credit business
The bonds have a two-year term, carry an annual coupon of 8% paid semi-annually, and are unlisted, non-convertible and non-transferable. That coupon is the company’s payment obligation to bondholders; the release does not announce new interest rates for vehicle-financing customers.
The hire-purchase loans themselves are secured by the new or pre-owned commercial vehicles being financed. Customers service the loans through monthly instalments under their repayment contracts. The funding therefore supports the group’s vehicle-backed lending portfolio, alongside its separate vehicle-leasing activities.
Skylink reported a hire-purchase loan book of S$66.24 million in FY2026, up from S$24.16 million in FY2023. It projects that the bonds could support at least S$30 million of additional loan-book growth and a portfolio exceeding S$100 million across FY2027 and FY2028.
Expansion within an existing vehicle business
Chief executive Wesley Shen said the completed financing would help Skylink serve a broader SME customer base. He linked the expansion plans to the group’s banking relationships and internal risk assessment, and described hire-purchase finance as part of its wider support for customers’ commercial-vehicle needs.
Skylink operates three business segments: vehicle leasing, credit and engineering services. Chairman Teh Wing Kwan described the bond funding as non-dilutive capital that gives the group greater financial flexibility to expand beyond its FY2026 loan-book base. He said the company would maintain disciplined capital deployment and prudent risk management as it scaled the credit business.
Sources: Skylink Holdings 19 October 2026 financing release.
