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Kingsmen
Business Development · Tenders
Last updated: 10 July 2026 (SGT)

Tender Pipeline

Tenders grouped by stage · Marcom + Contracts/QS
All tenders across Marcom (events, galleries), Exhibition (exhibition-build / booth tenders) and Contracts/QS (SG & China builds), grouped into three stages: pending submission (still to submit), submitted — awaiting award (in evaluation), and awarded (won). Open potential = pending submission + awaiting award. Values are submission amounts (QS in SGD-equivalent). Sources: Tenders List & QS Project List masters, as of 10 July 2026 (SGT).
$0
Pending submission (9)
$171.3M
Awaiting award (75)
$324.6M
Awarded — secured (55)

Win rate & trend

Marcom 51% · QS 31% all years
This report tracks our tender win percentage and how it is trending — by year and split between the Marcom and Contracts/QS streams. Win rate = tenders won ÷ tenders decided (won + lost).
51%
Marcom win rate — 91/179 decided (2022–26)
31%
QS win rate — 10/32 decided (2025–26)
41%
Marcom 2025 (last full year)
52%
Marcom 2026 (year-to-date)
Win rate by year   Marcom   QS  (QS tracked from 2025)
65%
2022
52%
2023
49%
2024
41%
12%
2025
52%
38%
2026
YearMarcom — won / decided · rateQS — won / decided · rate
202217 / 26 · 65%
202328 / 54 · 52%
202419 / 39 · 49%
202516 / 39 · 41%1 / 8 · 12%
202611 / 21 · 52%9 / 24 · 38%
How this is built. Win rate = Won ÷ (Won + Lost); pending, withdrawn and cancelled tenders are excluded. Marcom comes from the Tenders List yearly sheets (2022–2026); QS from the QS Project List bucketed by submission year (tracked from 2025). 2026 is year-to-date and will move as tenders are decided.

Pending submission

9 tenders · $0
TenderClientStreamRegion / SegmentAccount Service / SupportSubmissionValue
Jun 2026 · 2 tenders
Jul 2026 · 7 tenders

Submitted — awaiting award

75 tenders · $171.3M
Set Confidence on any tender to override the forecast: Win counts it at 100%, Unlikely at 0%; left as Scenario rate it uses the chosen win rate. The Forecast panel below updates instantly. Expand a quarter to see its tenders.
ConfidenceTenderClientStreamRegion / SegmentAccount Service / SupportValue
Q1 2025 · 4 tenders$8.4M
Q2 2025 · 4 tenders$2.4M
Q3 2025 · 3 tenders$3.1M
Q4 2025 · 5 tenders$16.5M
Q1 2026 · 11 tenders$6.9M
Q2 2026 · 48 tenders$134.1M
Total · 75 tenders$171.3M

Forecast — expected revenue from the awaiting-award pipeline

$56.1M risk-adjusted
$171.3M
Awaiting-award value (75 tenders)
$56.1M
Expected revenue (QS 31% · Marcom 52%)
33%
Blended conversion (value-weighted)
0 win · 0 unlikely
Tenders manually marked (override scenario rate)
Indicative revenue recognition by half-year (expected revenue spread over project lives)
Win-rate scenario for the unmarked tenders — pick one; marked tenders always count at 100%
UseScenarioQS win rateMarcom win rateQS expectedMarcom expectedTotal expected
Conservative21%42%$33.8M$5.2M$39.0M
Base case31%52%$49.7M$6.5M$56.1M
Optimistic41%62%$65.6M$7.7M$73.3M
How this is built. Win rates come from decided tenders in the raw files — QS 10 awarded of 32 (31%), Marcom 11 won of 21 (52%); that is the Base case. Conservative / Optimistic shift each rate by ±10 points. Tick Win? on any awaiting tender you're confident of winning — it is then counted at 100% and the rest at the chosen scenario rate. Expected revenue is recognised linearly from ~Sep 2026 over project life — QS builds ~35 months (value-weighted average from the Ongoing book), Marcom events ~6 months. Indicative only: small samples, lumpy percentage-of-completion, and a few mega-tenders dominate the QS figure.

Awarded — secured projects

55 projects · base $324.6M
ProjectRegionBase contractRevenue (YTD)
Ongoing · 28 projects · 14 clients$225.0M$26.2M
Final Account · 27 projects · 15 clients$99.5M$12.2M
Total55 projects$324.6M$38.5M
Notes. Pending submission = not yet submitted (To Submit / Pending Submission / newly logged); Awaiting award = submitted, in evaluation (Pending / Pending Evaluation). Awarded shows secured projects from the QS tracker, grouped by client, each tagged Ongoing or Final Account, with base contract value and revenue realised (1 Jan–15 Jun 2026) — so its values are contract sums, not tender submission amounts. Projects marked * had a blank client in the master and were assigned an inferred client from the project name (EF006B / EF015A Paddock Club → Singapore GP (F1); Egypt Pavilion → Egypt / World Expo 2025; Mandai Cavern → Mandai Wildlife Group; USS Façade → Resorts World Sentosa). Lost / unsuccessful / cancelled tenders are excluded. QS values are SGD-equivalent; tenders not yet valued show —. Sources: Tender Tracking Files — Tenders List 2013–2026 (MASTER) & QS Project List 2026 (MASTER), as of 10 July 2026 (SGT).