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Here are 1-2 brief analogies for SMJ International:

• Like a Sherwin-Williams for commercial flooring.
• The Grainger of commercial flooring.

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• Carpet Tiles: Premier flooring products distributed under their proprietary "SMJ" brand for commercial and institutional sectors.
• Broadloom Carpets: Wide-width flooring products sold under their "SMJ" brand, primarily for commercial and institutional clients.
• Vinyl Tiles: Durable and versatile flooring options, part of their premier product range under the "SMJ" brand.
• Professional Installation Services: Services provided for flooring renovation projects, primarily to customers in Singapore.

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SMJ International (SMJF) sells primarily to other companies, rather than individuals. The provided information does not list specific names of customer companies or their symbols. Instead, it describes categories of business customers that SMJ International serves. These major customer categories are:

• Distribution Network: This includes over 260 dealers, importers, and installation companies that purchase SMJ's flooring products on a wholesale basis for onward sale and distribution to end-users in various commercial and institutional sectors.
• Commercial Real Estate & Development: This category encompasses property developers of commercial buildings, as well as owners or tenants of commercial spaces who require flooring products for their premises.
• Professional Services Firms: This includes professional firms such as architecture firms, interior design firms, and renovation firms, which may procure SMJ's products for their projects.

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Ho Pei Yuen Rena

Chief Executive Officer and Executive Director

Ms. Ho Pei Yuen Rena has served as the Chief Executive Officer and Executive Director of SMJ International Holdings Inc. since January 2014, demonstrating a tenure of over 12 years with the company. She is responsible for the overall management and strategic direction of the Group. Ms. Ho graduated from Nanyang Technological University in Singapore with a Bachelor's degree in Business (Honours) in 1997. She directly holds 40.65% of the company's shares. The company was founded in 1988 by Siew Yee Ho.

Low Yeen Mei Sherina

Chief Financial Officer

Ms. Low Yeen Mei Sherina is the Chief Financial Officer of SMJ International Holdings Inc. and is responsible for the daily accounting and human resource matters of the Group. She began her career as an accounts assistant for Evergreen Shipping (S) Pte Ltd, a shipping business, from 2003 to 2005.

Ho Wan Jing Nellie

Deputy Chief Executive Officer and Executive Director

Ms. Ho Wan Jing Nellie serves as the Deputy Chief Executive Officer and Executive Director. Her primary role involves formulating viable expansion plans and business development strategies for overseas markets. Ms. Ho joined the Group in 1999, starting as an administrative assistant and export sales coordinator, eventually becoming an executive director of SMJ Furnishings (S) Pte. Ltd. in 2002 before her appointment as Deputy CEO in 2014. Her experience in managing overseas customers and distributorships has contributed significantly to the growth of the company's export sales. She was admitted as a Certified Accounting Technician of the Association of Chartered Certified Accountants in 2001.

Lee Lay Choo (Rosie Lee)

Chief Operating Officer and Executive Director

Ms. Lee Lay Choo, also known as Rosie Lee, is the Chief Operating Officer and Executive Director of SMJ International Holdings Inc. She is responsible for the export sales and marketing function and oversees the implementation of all expansion plans and policies for overseas markets. During her tenure with the Group, she gained extensive experience in the flooring industry and was instrumental in leading the growth of the local sales and marketing department through effective strategies and techniques.

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The key risks to SMJ International's business are:

1. Reliance on Commercial and Institutional Sectors and Singapore Market Performance: A significant portion of SMJ International's revenue is derived from the commercial and institutional sectors, including offices, educational institutions, hospitals, and hotels. Furthermore, 59.7% and 52.8% of its revenue for the financial years ended March 31, 2024, and 2025, respectively, came from the Singapore market. Consequently, the company is highly susceptible to downturns in the commercial real estate and construction industries, economic slowdowns in Singapore, or shifts in demand within these specific sectors, which could negatively impact its sales and profitability.
2. Inventory Management and Obsolescence Risks: SMJ International maintains a comprehensive inventory of approximately 80 different designs in up to 400 different colors across a 42,614 sq ft warehousing facility to ensure quick order fulfillment. While this strategy provides a competitive advantage by enabling short turnaround times, it also exposes the company to significant risks. These include the substantial capital tied up in inventory, high holding costs, and the risk of inventory obsolescence if designs, colors, or material preferences in the flooring market shift rapidly, potentially leading to write-downs and reduced profitability.

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The clear emerging threat to SMJ International is the potential development of highly efficient, localized manufacturing processes or advanced direct-to-customer logistics solutions by flooring product manufacturers. SMJ International's primary competitive advantage lies in its extensive inventory and ability to offer next-day delivery, thereby bypassing the "extended timelines typically required for the production and shipment of such flooring products from overseas." If manufacturers can increasingly produce and deliver diverse flooring products directly to commercial and institutional clients with lead times comparable to SMJ International's rapid fulfillment, it would negate SMJ International's core value proposition of holding large inventories as a buffer against long production and shipping times. This would effectively disintermediate SMJ International's role as the crucial rapid-fulfillment intermediary in the supply chain.

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Addressable Markets for SMJ International's Main Products

• The overall flooring materials market in the Asia-Pacific region was valued at approximately USD 135.21 billion in 2024 and is projected to reach USD 215.50 billion by 2032, growing at a CAGR of 6.00%.
• The vinyl flooring market in Singapore was estimated at USD 248.74 million in 2024 and is expected to reach USD 473.74 million by 2035, growing at a CAGR of 6.03% from 2025 to 2035.
• The Asia Pacific vinyl flooring market is valued at USD 16.9 billion. Specifically, the Asia Pacific luxury vinyl tile (LVT) flooring market size is expected to reach US$ 15.41 billion by 2031 from US$ 7.33 billion in 2023, at a CAGR of 9.7% from 2023 to 2031.
• The carpet tiles market in the Asia Pacific region was approximately USD 1.9 billion in 2024. Asia-Pacific dominates the global carpet tiles market with a 42% share.
• The Asia-Pacific region is estimated to hold approximately 24% of the global broadloom carpet market share. With the global broadloom carpet market valued at about USD 41.2 billion in 2026, the addressable market for broadloom carpets in Asia-Pacific would be approximately USD 9.89 billion in 2026.

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• Growing demand for eco-friendly and sustainable flooring products: The company is positioned to capitalize on the increasing market demand for green and environmentally certified materials, supporting government initiatives for sustainable building practices in Asia.
• Deepening market penetration and expansion in existing overseas markets: Leveraging its established distribution network in over 20 countries, primarily across Asia, SMJ International aims to increase its sales and market share in these international regions. The shift in revenue contribution, with Singapore's share decreasing from 59.7% to 52.8% between fiscal years 2024 and 2025, suggests an ongoing trend of growth in overseas markets.
• Capitalizing on operational efficiency and extensive ready stock for rapid project fulfillment: SMJ International distinguishes itself with a comprehensive inventory of various designs and colors and a real-time inventory management system, enabling a short turnaround time for customer orders, often within the next working day. This operational efficiency and ready stock allow the company to cater to the fast-paced project requirements of its commercial and institutional clients, securing more business.
• Overall growth in the commercial and institutional construction and renovation sectors: As a specialist in providing flooring solutions to sectors such as private and government offices, business premises, educational institutions, hospitals, and hotels, SMJ International's revenue growth is inherently tied to the development and renovation activities within these segments across its operating regions.

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Share Issuance

• SMJ International Holdings Inc. completed an Initial Public Offering (IPO) in December 2025.
• The company issued 2,500,000 Class A ordinary shares at a price of US$4.00 per share, resulting in gross proceeds of US$10,000,000.
• Through an over-allotment option exercised by the underwriter, an additional 205,000 Class A ordinary shares were purchased, increasing the total gross proceeds to US$10.82 million before deducting offering expenses.

Capital Expenditures

• For the six months ending March 2025, SMJ International Holdings spent approximately US$0.09 million on property, plant, and equipment.
• In March 2024, the company's expenditures on property, plant, and equipment amounted to approximately US$0.01 million.
• Capital expenditures over the last 12 months were reported as approximately US$91,198.