From staging world events to IPO: Kin Global eyes growth in event tourism

SINGAPORE – When a tender to build a bespoke 4,800-seat arena on a 250,000 sq ft carpark next to Leisure Park Kallang was called by the Government, a young local sports management firm took on the challenge.

Given just six months, it had to deliver the site – which included a temporary 3m-deep pool that took a week to fill – in time for the World Aquatics Championships in 2025. The event drew about 140,000 spectators and featured nearly 2,500 athletes from 206 countries and territories.

The company behind the effort, Kin Global, is now tapping the capital markets, seeking to position itself beyond sports as a player in the lucrative event tourism sector.

On March 30, it lodged a preliminary prospectus for an initial public offering (IPO) on the Catalist board.

This will comprise both new shares, and vendor shares sold by two co-founders – chairman Ko Chee Wah and chief executive officer Vincent Chai, who will retain control of the company post listing.

While the final offer size and pricing have yet to be disclosed, cornerstone investors including Amova Asset Management Asia, Apricot Capital and Qilin Wealth Fund have committed to subscribe for shares, subject to listing conditions.

The company said IPO proceeds will be used for acquisitions, investments in new attractions and working capital to support bids for larger as well as recurring contracts to tap the rise of what it calls “event tourism”.

Kin Global had a 17.3 per cent share of Singapore’s sports events management market in 2024, according to its prospectus, citing Euromonitor data. Its big projects that year included the FIDE World Chess Championship Singapore 2024 and Singapore 2024 World Taekwondo Virtual Championship.

But rather than limiting itself to the sports market, Kin Global sees growing opportunity in creating adjacent experiences that draw visitors, extend their stay and drive spending.

In an interview with The Straits Times, Mr Ko said the company plans to develop immersive attractions and large-scale events in partnership with agencies such as Sport Singapore and the Singapore Tourism Board, tapping high-traffic locations like Gardens by the Bay.

“Singapore cannot stand still. It has to up its tourism game,” Mr Ko said. He added that as the Republic invests in new attractions and infrastructure, demand for curated experiences will grow, opening up a much larger and more scalable market than sports alone.

This comes as Singapore ramps up investments in tourism infrastructure, including expansions at Marina Bay Sands and Resorts World Sentosa, the upcoming Changi Airport Terminal 5, and new attractions in Mandai.

Mr Ko cited forecasts that passenger traffic at Changi Airport could eventually reach 150 million annually once new infrastructure is in place, creating a larger pool of potential visitors.

“For our company, this is where the opportunity for growth is, not just by staging the main events, but by providing visitors things to do before and after them,” he said.

Take sports tournaments, for instance. Events like the World Table Tennis Championships and HSBC SVNS bring in thousands of participants and spectators, many of whom stay for several days.

“What do they do after the event? That’s where you create additional experiences,” CEO Chai said.

Currently, Kin Global’s business is largely project-based, deriving revenue from planning and delivering events as well as design-and-build services, meaning earnings can be lumpy, depending on the timing and scale of events.

Its IPO is aimed at funding a shift towards more recurring and scalable revenue streams – particularly through investments in attractions and immersive experiences.

One such investment is an attraction space at Gardens by the Bay, where exhibitions and immersive events are held. The company has signed a deal to acquire a 7.5 per cent interest in IMBA, which operates the space.

“With about 15 million visitors annually, the location offers a steady flow of potential customers. If we have an attraction inside Gardens by the Bay, we can tap some of that tourist flow,” Mr Chai said.

Kin Global is also looking at staging new events tied to emerging trends, including a major pickleball tournament expected to gather 300 professional and amateur players from around the world.

For the nine months ended Sept 30, 2025, the group’s revenue surged more than sevenfold to $56.5 million, from $8 million a year earlier. Gross profit more than tripled to $9.2 million while net profit jumped nearly tenfold to $4 million, according to its offer document.

Kin Global began in 2018 as a sports event management firm to take advantage of a gap in Asia’s ability to organise large-scale international sporting events without relying on foreign consultants.

Having previously worked on events such as the Youth Olympics and SEA Games, the founders noticed that governments often lacked in-house expertise to plan and execute such events.

Said Mr Ko: “Every time a major event came, they had to call in overseas consultants. We felt there was a gap – not just in Singapore but across Asia.

“But sports was how we started. Further growth will come from event tourism and creating events that bring people into the city.”

Kin Global’s IPO comes at a time when efforts are being made to revive investor interest in local stocks, and lure more listings to the Singapore Exchange. One major initiative is the $6.5 billion Equity Market Development Programme (EQDP), which allocates state capital with selected fund managers to invest in Singapore stocks.

Since the start of 2026, two companies have listed on the Catalist board – co-living operator The Assembly Place and cloud communications platform Toku.

SAC Capital is the sponsor, issue manager, underwriter and placement agent for Kin Global’s planned IPO.

Said its chief operating officer Tan Kian Tiong: “Singapore’s equities market remains an attractive platform for fast-growing small and medium enterprises, supported by initiatives such as the EQDP, which continue to enhance liquidity and investor participation.”