Dezign Format targets IPO in Singapore on strong financial performance

SINGAPORE: Dezign Format Group, a design-and-build specialist firm, is preparing to list on the Catalist board of the Singapore Exchange (SGX).

With a niche in experiential design in the MICE (meetings, incentives, conferences, and exhibitions) sector, the company has seen its earnings and revenues grow over the past three year. FY2022 saw it post earnings of S$1.6 million on revenue of S$18.3 million. Its earnings rose to S$3.3 million on revenue of S$26 million in FY2023. And in FY2024, earnings climbed to S$5 million on revenue of S$33.4 million.

Experiential design, or experiential marketing, is a strategy for brands to develop emotional resonance with customers through immersing them in experiences that boost brand awareness. The methods used include live events, pop-up stores, virtual experiences, and interactive online campaigns.

Cognitive Market Research estimates the global experiential marketing services market was worth US$52.614 billion in 2024. It is forecast to reach US$69.8 billion by 2033 on a compound annual growth rate (CAGR) of 3.6%. The Asia Pacific is set to lead global growth, with a CAGR of 10%.

End-2024 saw Dezign Format with an outstanding order book worth S$23.89 million. Of this, S$10.47 million is recognised as revenue for the first quarter of FY2025. This indicates a strong pipeline and sustained demand.

Dezign Format’s business lines include custom environment design and fabrication, project management, festive and seasonal installations, commercial interior fit-outs and location-based entertainment and immersive experiences.

Its key business is in offering integrated, turnkey solutions for large-scale projects. Most of its clients are organisations in the commercial, corporate and government sectors. Additionally, the company is capitalising on the growing demand for experiential design.

Its plans to list come at a time of strength in Singapore’s stock market. Shares are demonstrating resilience to global market uncertainty. The Straits Times Index (STI) breached the 4,000 mark on July 2, the second time it crossed the mark this year and is up 5.9% year-to-date. This outpaces the S&P 500’s 5.4% growth.

Analysts remain optimistic. UBS recently upgraded Singapore equities from “neutral” to “attractive,” citing disciplined capital management and currency strength as key advantages. Meanwhile, the Singapore Equity Strategy Mid-year Outlook released by Morgan Stanley in May notes how the Singapore market has been outperforming global stocks through the year.

The share sale signals the company’s intent to scale further and explore overseas markets in the region. Investors will be keeping note on Dezign Format to see how it leverages its strong order book and growth momentum in Southeast Asia’s evolving experiential space in future quarters.