It is said that a tree's longevity is only as good as its roots. Being planted in a good location with enough sunlight and water isn't enough. The roots must develop first, for without a strong foundation, growth is limited.
This philosophy has underpinned Skylink's progress from its business roots in Singapore as a dealer selling and leasing commercial vehicles, to a one-stop trusted Mobility Partner that also offers credit facilities, insurance services, and maintenance, repair and overhaul (MRO) services.
Underscoring Skylink's achievements over the past eight years is the fact that to date, it remains the only home-grown company specialising in the commercial vehicles market that is listed on the Singapore Exchange (SGX) - with three core business divisions spanning vehicle leasing, hire-purchase financing, and engineering services.
Sowing the seeds of success
Skylink, which was started by Wesley Shen, began operations in 2017 as a dealer in new and pre-owned commercial vehicles. Although the business grew swiftly, fluctuations in COE prices posed considerable challenges. In navigating these conditions, the Group identified new opportunities, laying the foundation for its commercial vehicle leasing business.
Since then, the company expanded its business activities to include financing and insurance services as well as MRO services, creating a scalable business model that supports and reinforces each other within the larger Skylink Group.
Commercial vehicles are essential to the smooth functioning of business operations; hence it was only natural for Skylink to start offering maintenance, repair and overhaul services (MRO) as well. After all, keeping one's clients happy by offering the convenience of a one-stop-shop operation means repeat business.
Recognising the importance of aftersales services, Wesley, the firm's CEO, knew he had to grow Skylink Engineering, which is responsible for MRO operations. Not only would the Engineering division help ensure customer satisfaction and repeat business, but it would also be another anchor of Skylink's future growth.
"Leasing and hire-purchase financing are significant sources of income, but Engineering is just as important, too," says Wesley. He continued, "Let's say there's a motor accident claim - that involves body and paint. Maintenance doesn't just involve mechanical parts, but cosmetic refurbishments as well. Speed matters - every minute saved in returning a vehicle to the road translates into reduced downtime for our customers' businesses."
New clients, on the other hand, may need to have their trucks outfitted to suit specific requirements. The size of the lorry (or van), the need for refrigeration, and customised paint or graphics to suit a customer's corporate identity, fall under the scope of Skylink Engineering.
Rapid expansion with IPO listing on SGX
With ambitious growth plans, Skylink needed funds to accelerate their business strategy and one of the ways was to become a listed firm. But meeting regulatory requirements is no easy task - even if it's done via reverse takeover. After months of planning and preparation, Skylink was successfully listed on SGX in September 2025.
Following this milestone, Skylink announced in November 2025 that it secured a maiden service contract with SBS Transit Ltd. to supply labour and materials for bus body works, for a period of two years, which covers accident-related repair works for buses, under the Ulu Pandan Bus Depot.
In addition, Skylink secured a two-year service contract (that may be extended for one more year) with F&N Foods to provide MRO services for part of F&N's commercial vehicles fleet. These new contracts with blue-chip corporate customers reflect Skylink's expertise and professionalism. It also signals to investors that the firm a trusted partner within the industry.
To enhance the capabilities of its Engineering business, Skylink signed a new lease for a B2 Industrial Property at Jurong Port Road with a built up area of 15,000 square feet, which will almost double the current size of its engineering specialist workshop areas to 33,300 square feet.
The new lease will also significantly expand its engineering MRO capacity and scope for commercial and heavy-duty vehicles, including vehicles body fabrication and spray painting works.
Clear growth roadmap ahead
Following its listing on SGX, Skylink can further focus on growing its integrated business model comprising vehicle leasing, hire-purchase financing, and engineering services.
One of the most significant challenges in the industry is manpower. Without the right mix of skilled mechanics, engineers and finance professionals, the ability to scale and unlock growth potential is constrained.
We asked Wesley how Skylink is tackling this. He replied, "We see a growing trend of consolidation in the industry, driven in part by a shortage of successors from the next generation. For instance, if an owner of a commercial vehicle leasing firm or workshop wishes to retire or sell his business, we're in a ready position to take over. This is one of the ways of expanding the talent pool as we scale our business platform."
As a testament to its growth ambitions, Skylink announced the acquisition of 132 units of commercial vehicles in early December 2025, which will provide immediate recurring revenue stream and form part of its strategies to optimise vehicle replacement cycles.
Swiftly following, Skylink announced the acquisition of Chuang Li Partners, a bodywork customisation specialist for $1.75 million in mid-December 2025. Chuang Li Partners is a company that design, customises, manufactures and installs the upper body structures for improved safety and regulatory compliance of such customised commercial vehicles.
Wesley looks forward to being able to ink more deals to support the growth of Skylink's integrated business model. With enhanced economies of scale, the Company will be better positioned to strengthen its market competitiveness while advancing its long-term growth objectives ahead.
Aiming high
Skylink's success didn't occur overnight. Much effort was needed to reach each stage of its development. But now that the company is listed, it is poised to take off.
Raising funds through an IPO is just the beginning. Guided by strong corporate governance as a listed SGX company and supported by proven execution capabilities, it will be easier for the firm to secure more credit facilities from banks and financial institutions, so it can have the 'fuel' it needs to power ahead.
Wesley, however, knows that keeping the company's foundation strong will remain a priority. "Business has always been about talent. Having the right people, whether in the office or in any of our three core business divisions, is the real key to value creation and sustaining growth."
