Ohmyhome sold its core real estate brokerage business, held under subsidiary Ohmyhome (BVI), to Sterling Oat Ltd. for US$1 (S$1.30) on June 18, 2026, according to the company’s filing with the US SEC [1, 2, 3, 4, 5, 6, 7]. The sale follows continuing losses and declining revenue in the real estate brokerage and related property services sector within the company [1, 8, 2, 3, 4, 5, 9].
As of March 31, 2026, Ohmyhome (BVI) had a negative net asset position of about S$14.77 million, with liabilities exceeding assets by this amount [1, 2, 3, 4, 5, 6, 7, 9]. Prior to the sale, the parent company waived approximately S$19 million in debt owed unconditionally by Ohmyhome (BVI) to improve its financial position [1, 2, 3, 4, 5, 6, 7, 9].
Following the sale, Ohmyhome’s publicly listed company will no longer operate any real estate brokerage or property-related businesses. It will instead shift focus entirely to providing digital marketing services [1, 2, 3, 4, 5, 9]. The core real estate business and other property services such as property management and renovation will continue privately under co-founders and sisters Rhonda Wong (CEO) and Race Wong (CPO) [8, 2, 3, 4, 5, 9].
Rhonda Wong emphasized that "the property business continues to operate as usual under a private business structure, and that its app and website, property agents, and renovation and property management business are still operating and clinching new deals. There will be no retrenchments" [2].
Ohmyhome was founded in 2016 in Singapore by the Wong sisters and completed its Nasdaq IPO in March 2023, raising about US$15.1 million at an initial share price of US$4 [8, 6, 7]. The company grew revenue from S$5 million in 2023 to S$12.24 million in 2025 but sustained net losses expanding to S$9.24 million in 2025 [8]. Ohmyhome’s stock price has declined substantially since the IPO and recently closed around US$0.64 on June 25, 2026, below Nasdaq’s US$1 minimum listing requirement [1, 8]. The company’s continued listing is now in question due to the stock price and loss of its core business [8, 9].
As of today, Ohmyhome remains focused on the transition to digital marketing services, with its real estate brokerage business continuing privately under the founding management. The next key date will be any formal Nasdaq review regarding the company’s listing status.
