Announcement • 52m
Far East Orchard Limited Announces Resignation of Phua Siyu, Audrey from Company Secretary, Effective October 12, 2026 FAR EAST ORCHARD LIMITED announced the resignation of Ms Phua Siyu, Audrey as Company Secretary with effect from October 12, 2026. Role And Responsibilities: Legal and corporate secretariat functions of the Far East Orchard Limited Group. Ms Phua will remain as Company Secretary of the Company and is working closely with Group CEO Mr. Alan Tang to ensure a smooth handover of her responsibilities, until the effective date of cessation. The Company is in the process of finding a replacement for a suitable candidate and will make the necessary announcement on SGXNet accordingly. Buy Or Sell Opportunity • Jun 19
Now 20% overvalued Over the last 90 days, the stock has fallen 4.2% to S$1.14. The fair value is estimated to be S$0.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 21% in 2 years. Earnings are forecast to decline by 8.0% in the next 2 years. Upcoming Dividend • May 03
Upcoming dividend of S$0.04 per share Eligible shareholders must have bought the stock before 08 May 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Singaporean dividend payers (5.0%). In line with average of industry peers (3.2%). Declared Dividend • Apr 19
Dividend of S$0.04 announced Shareholders will receive a dividend of S$0.04. Ex-date: 8th May 2026 Payment date: 29th June 2026 Dividend yield will be 3.2%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (36% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 10% over the next 2 years. However, it would need to fall by 60% to increase the payout ratio to a potentially unsustainable range. New Risk • Apr 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Earnings are forecast to decline by an average of 4.5% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Apr 09
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Apr 04
Far East Orchard Limited, Annual General Meeting, Apr 17, 2026 Far East Orchard Limited, Annual General Meeting, Apr 17, 2026, at 10:00 Singapore Standard Time. Location: antica ballroom, level 2, orchard rendezvous hotel, singapore, 1 tanglin road, singapore 247905, Singapore New Risk • Mar 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 169% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 01
Full year 2025 earnings released: EPS: S$0.11 (vs S$0.12 in FY 2024) Full year 2025 results: EPS: S$0.11 (down from S$0.12 in FY 2024). Revenue: S$247.6m (up 29% from FY 2024). Net income: S$54.0m (down 8.4% from FY 2024). Profit margin: 22% (down from 31% in FY 2024). The decrease in margin was driven by higher expenses. 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 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 26
Far East Orchard Limited to Report Q1, 2026 Results on May 08, 2026 Far East Orchard Limited announced that they will report Q1, 2026 results on May 08, 2026 New Risk • Feb 23
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. Large one-off items impacting financial results. Announcement • Jan 13
Far East Orchard Limited to Report Fiscal Year 2025 Results on Feb 27, 2026 Far East Orchard Limited announced that they will report fiscal year 2025 results on Feb 27, 2026 Announcement • Oct 02
Far East Orchard Limited (SGX:O10) acquired additional 35% stake in Homes For Students Limited for £25 million. Far East Orchard Limited (SGX:O10) acquired additional 35% stake in Homes For Students Limited for £25 million on September 30, 2025. A cash consideration of £25 million will be paid by Far East Orchard Limited. As part of consideration, £25 million is paid towards common equity of Homes For Students Limited. Following the acquisition of 35% stake in HFS The Group’s interest in HFS has increased from 49% to 84%, making HFS a subsidiary of the Group. The Group plans to acquire the remaining stake in HFS by November 2030, subject to the terms and conditions of the sale and purchase agreement. Martin Corbett and Graham Rogers, Co-CEOs of HFS, will continue their leadership roles, supporting the ongoing expansion of HFS’ presence in the living sector across the UK and Europe, and the delivery of exceptional services to the clients and residents across the properties HFS manages.
Far East Orchard Limited (SGX:O10) completed the acquisition of additional 35% stake in Homes For Students Limited on September 30, 2025. Reported Earnings • Aug 12
First half 2025 earnings released: EPS: S$0.04 (vs S$0.037 in 1H 2024) First half 2025 results: EPS: S$0.04 (up from S$0.037 in 1H 2024). Revenue: S$91.3m (down 6.1% from 1H 2024). Net income: S$19.6m (up 7.5% from 1H 2024). Profit margin: 21% (up from 19% in 1H 2024). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 19% to S$1.20. The fair value is estimated to be S$1.00, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has grown by 34%. Announcement • May 27
Far East Orchard Limited to Report First Half, 2025 Results on Aug 08, 2025 Far East Orchard Limited announced that they will report first half, 2025 results on Aug 08, 2025 Upcoming Dividend • May 13
Upcoming dividend of S$0.05 per share Eligible shareholders must have bought the stock before 19 May 2025. Payment date: 04 July 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of Singaporean dividend payers (6.1%). In line with average of industry peers (4.1%). Declared Dividend • Apr 27
Dividend of S$0.05 announced Shareholders will receive a dividend of S$0.05. Ex-date: 19th May 2025 Payment date: 4th July 2025 Dividend yield will be 5.0%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: S$0.12 (vs S$0.14 in FY 2023) Full year 2024 results: EPS: S$0.12 (down from S$0.14 in FY 2023). Revenue: S$191.9m (up 4.5% from FY 2023). Net income: S$59.0m (down 11% from FY 2023). Profit margin: 31% (down from 36% in FY 2023). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Apr 09
Far East Orchard Limited to Report Q1, 2025 Results on May 09, 2025 Far East Orchard Limited announced that they will report Q1, 2025 results on May 09, 2025 New Risk • Mar 03
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). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: S$0.12 (vs S$0.14 in FY 2023) Full year 2024 results: EPS: S$0.12 (down from S$0.14 in FY 2023). Revenue: S$191.9m (up 4.5% from FY 2023). Net income: S$59.0m (down 11% from FY 2023). Profit margin: 31% (down from 36% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Hon Chew Chan was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Sep 29
Non-Executive Chairman recently bought S$92k worth of stock On the 27th of September, Kah Sek Koh bought around 90k shares on-market at roughly S$1.02 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Kah Sek's only on-market trade for the last 12 months. Reported Earnings • Aug 17
First half 2024 earnings released: EPS: S$0.037 (vs S$0.017 in 1H 2023) First half 2024 results: EPS: S$0.037 (up from S$0.017 in 1H 2023). Revenue: S$97.3m (up 7.1% from 1H 2023). Net income: S$18.2m (up 122% from 1H 2023). Profit margin: 19% (up from 9.0% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jul 17
Far East Orchard Limited to Report First Half, 2024 Results on Aug 13, 2024 Far East Orchard Limited announced that they will report first half, 2024 results on Aug 13, 2024 Announcement • May 18
Far East Orchard Limited Announces Scrip Dividend Scheme to the 2023, Payable on or About 5 July 2024 On 25 April 2024, Far East Orchard Limited announced the application of its Scrip Dividend Scheme to the 2023 Dividend and the Record Date for determining Shareholders' entitlements to the 2023 Dividend. The company announced that for the purposes of the application of the Scheme to the 2023 Dividend, the price at which each New Share is to be issued credited as fully paid, to Shareholders who have elected to participate in the Scheme, in lieu of the cash amount of the 2023 Dividend, is SGD 1.001 for each New Share, the average of the volume weighted average prices of a Share on the SGX- ST for each of the market days, commencing on the day on which the Shares were first quoted ex-dividend on the SGX-ST after the announcement of the 2023 Dividend and ending on the Record Date. Election Notices for the scrip elective with respect to the FY2023 Dividend will be despatched to eligible Shareholders on or about 29 May 2024. The 2023 Dividend will be paid on or about 5 July 2024. Shareholders not participating in the Scheme will receive the 2023 Dividend in cash. Reported Earnings • Apr 14
Full year 2023 earnings released: EPS: S$0.14 (vs S$0.047 in FY 2022) Full year 2023 results: EPS: S$0.14 (up from S$0.047 in FY 2022). Revenue: S$183.6m (up 30% from FY 2022). Net income: S$65.9m (up 201% from FY 2022). Profit margin: 36% (up from 16% in FY 2022). Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Mar 07
Far East Orchard Limited, Annual General Meeting, Apr 25, 2024 Far East Orchard Limited, Annual General Meeting, Apr 25, 2024. Agenda: To consider re-election of directors; and to consider other issues. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: S$0.14 (vs S$0.047 in FY 2022) Full year 2023 results: EPS: S$0.14 (up from S$0.047 in FY 2022). Revenue: S$183.6m (up 30% from FY 2022). Net income: S$65.9m (up 201% from FY 2022). Profit margin: 36% (up from 16% in FY 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Feb 24
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: Major Risk Earnings have declined by 2.3% per year over the past 5 years. 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. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (13% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Announcement • Jan 27
Far East Orchard Limited Provides Earnings Guidance for the Financial Year Ended 31 December 2023 Far East Orchard Limited provided earnings guidance for the financial year ended 31 December 2023. The group is expected to report a higher profit after tax for financial year 2023, compared to the audited profit after tax for financial year 2022. Reported Earnings • Aug 13
First half 2023 earnings released: EPS: S$0.017 (vs S$0.017 in 1H 2022) First half 2023 results: EPS: S$0.017 (in line with 1H 2022). Revenue: S$90.9m (up 43% from 1H 2022). Net income: S$8.20m (up 2.1% from 1H 2022). Profit margin: 9.0% (down from 13% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
Far East Orchard Limited to Report First Half, 2023 Results on Aug 08, 2023 Far East Orchard Limited announced that they will report first half, 2023 results on Aug 08, 2023 New Risk • Jun 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 2.4% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (16% net profit margin). Shareholders have been diluted in the past year (2.7% increase in shares outstanding). Announcement • Jun 01
Far East Orchard Limited (SGX:O10) completed the acquisition of Emily Davies House from Empiric Student Property plc (LSE:ESP). Far East Orchard Limited (SGX:O10) agreed to acquire Emily Davies House from Empiric Student Property plc (LSE:ESP) for £13.9 million on December 12, 2022. Tom Yeadon, Andrew Morris of Jefferies International Limited and Capel Irwin, Carl Gough of Peel Hunt LLP acted as financial advisor to Empiric Student Property plc.Far East Orchard Limited (SGX:O10) completed the acquisition of Emily Davies House from Empiric Student Property plc (LSE:ESP) on May 31, 2023. Upcoming Dividend • May 03
Upcoming dividend of S$0.04 per share at 2.9% yield Eligible shareholders must have bought the stock before 10 May 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of Singaporean dividend payers (6.4%). Lower than average of industry peers (3.6%). Reported Earnings • Apr 06
Full year 2022 earnings released Full year 2022 results: Revenue: S$141.0m (up 32% from FY 2021). Net income: S$21.9m (down 22% from FY 2021). Profit margin: 16% (down from 26% in FY 2021). Buying Opportunity • Mar 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.8%. The fair value is estimated to be S$1.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has grown by 18%. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: S$0.047 (vs S$0.061 in FY 2021) Full year 2022 results: EPS: S$0.047 (down from S$0.061 in FY 2021). Revenue: S$141.0m (up 32% from FY 2021). Net income: S$21.9m (down 22% from FY 2021). Profit margin: 16% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up S$1.87m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • May 03
Upcoming dividend of S$0.03 per share Eligible shareholders must have bought the stock before 10 May 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Singaporean dividend payers (5.8%). Lower than average of industry peers (3.1%). Reported Earnings • Apr 04
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S$0.061 (up from S$0.003 in FY 2020). Revenue: S$106.8m (down 4.8% from FY 2020). Net income: S$28.1m (up S$26.6m from FY 2020). Profit margin: 26% (up from 1.4% in FY 2020). Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: S$106.8m (down 4.8% from FY 2020). Net income: S$28.1m (up S$26.6m from FY 2020). Profit margin: 26% (up from 1.4% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 31%, compared to a 6.3% growth forecast for the industry in Singapore. Reported Earnings • Feb 27
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: S$106.8m (down 4.8% from FY 2020). Net income: S$28.1m (up S$26.6m from FY 2020). Profit margin: 26% (up from 1.4% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 31%, compared to a 6.3% growth forecast for the industry in Singapore. Reported Earnings • Aug 09
First half 2021 earnings released: S$0.004 loss per share (vs S$0.002 loss in 1H 2020) The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: S$54.9m (down 15% from 1H 2020). Net loss: S$1.87m (loss widened 119% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 11
Upcoming dividend of S$0.03 per share Eligible shareholders must have bought the stock before 17 May 2021. Payment date: 05 July 2021. Trailing yield: 2.7%. Lower than top quartile of Singaporean dividend payers (4.6%). In line with average of industry peers (2.8%). Is New 90 Day High Low • Jan 20
New 90-day high: S$1.10 The company is up 12% from its price of S$0.98 on 22 October 2020. The Singaporean market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 15% over the same period. Is New 90 Day High Low • Dec 29
New 90-day high: S$1.09 The company is up 11% from its price of S$0.98 on 29 September 2020. The Singaporean market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 12% over the same period. Is New 90 Day High Low • Nov 06
New 90-day high: S$1.00 The company is up 4.0% from its price of S$0.96 on 07 August 2020. The Singaporean market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 2.0% over the same period. 
