Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Non-Executive & Independent Director Boon Wee Kuah was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Apr 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.4% to S$1.62. The fair value is estimated to be S$2.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 7.2%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 5.2% per annum over the same time period. Upcoming Dividend • Apr 21
Upcoming dividend of S$0.075 per share Eligible shareholders must have bought the stock before 28 April 2026. Payment date: 11 May 2026. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Singaporean dividend payers (4.9%). Higher than average of industry peers (1.5%). Declared Dividend • Mar 27
Dividend of S$0.075 announced Shareholders will receive a dividend of S$0.075. Ex-date: 28th April 2026 Payment date: 11th May 2026 Dividend yield will be 4.8%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 17% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 26
Sing Investments & Finance Limited Proposes First and Final Tax-Exempt Dividend for the Year Ended 31 December 2025, Payable on 11 May 2026 Sing Investments & Finance Limited announced that Notice Hereby Given that the Share Transfer Books and Register of Members of the Company will be closed at 5.00 p.m. on 29 April 2026 (the "Record Date") for the purpose of determining Shareholders' entitlements to the proposed first and final tax-exempt dividend of 7.5 cents per ordinary share for the year ended 31 December 2025. Duly completed and stamped registrable transfers received by the Company's Share Registrar, Boardroom Corporate & Advisory Services Pte. Ltd. at 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632, up to 5.00 p.m. on the Record Date will be registered to determine Shareholders' entitlements to the proposed dividend. In respect of shares in the securities accounts with The Central Depository (Pte) Limited ("CDP"), the dividend will be paid by the Company to CDP, which will in turn distribute the dividend entitlements to Shareholders. The proposed dividend, if approved at the Annual General Meeting to be held on 24 April 2026, will be paid on 11 May 2026. Announcement • Mar 25
Sing Investments & Finance Limited, Annual General Meeting, Apr 24, 2026 Sing Investments & Finance Limited, Annual General Meeting, Apr 24, 2026, at 15:00 Singapore Standard Time. Location: big picture theatre at 168 robinson road, capital tower, level 9, singapore 068912, Singapore Buy Or Sell Opportunity • Mar 02
Now 21% undervalued Over the last 90 days, the stock has risen 1.9% to S$1.61. The fair value is estimated to be S$2.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 7.2%. Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: S$0.18 (vs S$0.15 in FY 2024) Full year 2025 results: EPS: S$0.18 (up from S$0.15 in FY 2024). Revenue: S$81.0m (up 13% from FY 2024). Net income: S$42.3m (up 17% from FY 2024). Profit margin: 52% (up from 51% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 24
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. New Risk • Feb 21
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to S$1.60, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 14x in the Consumer Finance industry in Asia. Total returns to shareholders of 92% over the past three years. Reported Earnings • Aug 11
First half 2025 earnings released: EPS: S$0.092 (vs S$0.068 in 1H 2024) First half 2025 results: EPS: S$0.092 (up from S$0.068 in 1H 2024). Revenue: S$41.0m (up 22% from 1H 2024). Net income: S$21.7m (up 35% from 1H 2024). Profit margin: 53% (up from 48% in 1H 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 9% per year. Announcement • May 22
Sing Investments & Finance Limited Approves First and Final One-Tier Tax Exempt Dividend for the Financial Year Ended 31 December 2024, Payable on 8 May 2025 Sing Investments & Finance Limited announced that at its AGM held on 23 April 2025, the shareholders approved first and final one-tier tax exempt dividend of 6.5 cents per ordinary share for the financial year ended 31 December 2024. The dividend will be paid to shareholders on 8 May 2025. Record date is 28 April 2025. Upcoming Dividend • Apr 18
Upcoming dividend of S$0.065 per share Eligible shareholders must have bought the stock before 25 April 2025. Payment date: 08 May 2025. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 5.8%. Lower than top quartile of Singaporean dividend payers (6.1%). Higher than average of industry peers (1.4%). Declared Dividend • Mar 27
Dividend increased to S$0.065 Dividend of S$0.065 is 8.3% higher than last year. Ex-date: 25th April 2025 Payment date: 8th May 2025 Dividend yield will be 5.7%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 25
Sing Investments & Finance Limited, Annual General Meeting, Apr 23, 2025 Sing Investments & Finance Limited, Annual General Meeting, Apr 23, 2025, at 15:00 Singapore Standard Time. Location: 60 cecil street, isca house, level 4 (function room 4-2 & 4-3), singapore 049709, Singapore Recent Insider Transactions • Mar 08
MD, CEO & Executive Director recently bought S$112k worth of stock On the 5th of March, Sze Leong Lee bought around 101k shares on-market at roughly S$1.11 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Sze Leong's only on-market trade for the last 12 months. New Risk • Feb 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Paying a dividend despite having no free cash flows. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: S$0.15 (vs S$0.14 in FY 2023) Full year 2024 results: EPS: S$0.15 (up from S$0.14 in FY 2023). Revenue: S$71.9m (up 5.4% from FY 2023). Net income: S$36.3m (up 9.4% from FY 2023). Profit margin: 51% (up from 49% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 3% per year. New Risk • Feb 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Paying a dividend despite having no free cash flows. Reported Earnings • Aug 05
First half 2024 earnings released: EPS: S$0.068 (vs S$0.069 in 1H 2023) First half 2024 results: EPS: S$0.068 (down from S$0.069 in 1H 2023). Revenue: S$33.7m (flat on 1H 2023). Net income: S$16.1m (down 2.0% from 1H 2023). Profit margin: 48% (in line with 1H 2023). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. New Risk • Aug 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 210% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (210% accrual ratio). Minor Risk Paying a dividend despite having no free cash flows. Upcoming Dividend • Apr 22
Upcoming dividend of S$0.06 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 10 May 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 5.8%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (1.6%). Declared Dividend • Mar 29
Dividend of S$0.06 announced Shareholders will receive a dividend of S$0.06. Ex-date: 29th April 2024 Payment date: 10th May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 2.2%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
Sing Investments & Finance Limited, Annual General Meeting, Apr 25, 2024 Sing Investments & Finance Limited, Annual General Meeting, Apr 25, 2024, at 15:00 Singapore Standard Time. Location: Seminar Rooms 1 & 2 @ SBF Center, 160 Robinson Road #06-01 Singapore 068914 Singapore Agenda: To receive and, if approved, to adopt the Directors' statement and audited financial statements for the year ended 31 December 2023 together with the auditor's report thereon; to declare a first and final one-tier tax exempt dividend of 6.0 cents per ordinary share for the financial year ended 31 December 2023; to re-appoint Messrs Deloitte & Touche LLP as auditors of the Company for the next financial year and to authorise the Directors to fix their remuneration; and to consider other matters. Announcement • Mar 27
Sing Investments & Finance Limited Proposes to Declare First and Final One-Tier Tax Exempt Dividend for the Financial Year Ended 31 December 2023 Sing Investments & Finance Limited at its annual general meeting to be held on 25 April 2024 proposed to declare a first and final one-tier tax exempt dividend of 6.0 cents per ordinary share for the financial year ended 31 December 2023. Reported Earnings • Feb 24
Full year 2023 earnings released: EPS: S$0.14 (vs S$0.16 in FY 2022) Full year 2023 results: EPS: S$0.14 (down from S$0.16 in FY 2022). Revenue: S$68.5m (down 4.7% from FY 2022). Net income: S$33.2m (down 11% from FY 2022). Profit margin: 49% (down from 52% in FY 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Feb 12
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Buying Opportunity • Aug 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be S$1.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 22%. Reported Earnings • Jul 30
First half 2023 earnings released: EPS: S$0.069 (vs S$0.083 in 1H 2022) First half 2023 results: EPS: S$0.069 (down from S$0.083 in 1H 2022). Revenue: S$34.0m (down 7.7% from 1H 2022). Net income: S$16.4m (down 17% from 1H 2022). Profit margin: 48% (down from 54% in 1H 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • May 26
Non-Executive & Independent Director recently sold S$26m worth of stock On the 24th of May, Wai Yee Quan sold around 5k shares on-market at roughly S$5,150 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of S$26m more than they bought in the last 12 months. Upcoming Dividend • Apr 21
Upcoming dividend of S$0.10 per share at 6.0% yield Eligible shareholders must have bought the stock before 28 April 2023. Payment date: 11 May 2023. Payout ratio is a comfortable 42% but the company is not cash flow positive. Trailing yield: 6.0%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (1.8%). Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: S$0.24 (vs S$0.20 in FY 2021) Full year 2022 results: EPS: S$0.24 (up from S$0.20 in FY 2021). Revenue: S$71.9m (up 14% from FY 2021). Net income: S$37.2m (up 18% from FY 2021). Profit margin: 52% (up from 50% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 25
Full year 2022 earnings released: EPS: S$0.24 (vs S$0.20 in FY 2021) Full year 2022 results: EPS: S$0.24 (up from S$0.20 in FY 2021). Revenue: S$72.1m (up 14% from FY 2021). Net income: S$37.2m (up 18% from FY 2021). Profit margin: 52% (up from 50% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 28
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down S$18.3m from profit in 1H 2021). Profit margin: (down from 53% in 1H 2021). The decrease in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Buying Opportunity • May 27
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be S$1.81, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 12%. Buying Opportunity • May 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.6%. The fair value is estimated to be S$1.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years. Earnings per share has grown by 12%. Upcoming Dividend • Apr 21
Upcoming dividend of S$0.08 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 11 May 2022. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 5.0%. Lower than top quartile of Singaporean dividend payers (5.8%). Higher than average of industry peers (1.4%). Announcement • Mar 29
Sing Investments & Finance Limited, Annual General Meeting, Apr 26, 2022 Sing Investments & Finance Limited, Annual General Meeting, Apr 26, 2022, at 15:00 Singapore Standard Time. Agenda: To receive and, if approved, to adopt the Directors' statement and audited financial statements for the year ended 31 December 2021 together with the auditors' report thereon; to approve the payment of $403,750 as Directors' fees for the year ended 31 December 2021 (2020: $480,000); to declare a first and final one-tier tax exempt dividend of 8 cents per ordinary share for the financial year ended 31 December 2021; to re-elect Mr Joseph Toh Kian Leong as Director, who retires pursuant to Regulation 109 of the Constitution of the Company; to re-elect Mr Michael Lau Hwai Keong as Director, who retires pursuant to Regulation 109 of the Constitution of the Company; to re-elect Ms Quan Wai Yee as Director, who retires pursuant to Regulation 119 of the Constitution of the Company; and to consider other matters. Announcement • Feb 25
Sing Investments & Finance Limited Recommends First and Final Dividend for the Fiscal Year 2021 Sing Investments & Finance Limited announced in line with the record performance for fiscal year 2021, the Board of Directors recommend a first and final dividend of 8 cents per share one-tier tax exempt in respect of the financial year 2021 for approval by the shareholders at the next Annual General Meeting. This is significantly higher by 4.4 cents per share or more than double the 3.6 cents per share dividend for fiscal year 2020. Upcoming Dividend • Apr 24
Upcoming dividend of S$0.036 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 10 May 2021. Trailing yield: 2.5%. Lower than top quartile of Singaporean dividend payers (4.6%). Higher than average of industry peers (1.4%). Reported Earnings • Mar 29
Full year 2020 earnings released: EPS S$0.12 (vs S$0.13 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: S$47.0m (down 3.2% from FY 2019). Net income: S$19.6m (down 2.1% from FY 2019). Profit margin: 42% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Feb 18
Full year 2020 earnings released: EPS S$0.12 (vs S$0.13 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: S$49.5m (up 2.1% from FY 2019). Net income: S$19.6m (down 2.1% from FY 2019). Profit margin: 40% (down from 41% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Feb 18
New 90-day high: S$1.40 The company is up 12% from its price of S$1.25 on 20 November 2020. The Singaporean market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Finance industry, which is up 23% over the same period. Is New 90 Day High Low • Jan 25
New 90-day high: S$1.36 The company is up 17% from its price of S$1.16 on 27 October 2020. The Singaporean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 28% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: S$1.32 The company is up 13% from its price of S$1.17 on 08 September 2020. The Singaporean market is up 10.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Consumer Finance industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: S$1.15 The company is down 4.0% from its price of S$1.20 on 05 August 2020. The Singaporean market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 7.0% over the same period. Reported Earnings • Oct 27
Third quarter earnings released Over the last 12 months the company has reported total profits of S$18.2m, down 14% from the prior year. Total revenue was S$46.5m over the last 12 months, down 9.2% from the prior year.