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Keck Seng Investments (Hong Kong)

DB:KEC
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KEC
DB
HK$2B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Keck Seng Investments (Hong Kong) Limited, an investment holding company, engages in the hotel and club operations, and property investment and development activities. The last earnings update was 51 days ago. More info.


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KEC Share Price and Events
7 Day Returns
2.3%
DB:KEC
0.1%
DE Hospitality
0.3%
DE Market
1 Year Returns
-32.3%
DB:KEC
-52.1%
DE Hospitality
-11.7%
DE Market
KEC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Keck Seng Investments (Hong Kong) (KEC) 2.3% -6.6% -16.2% -32.3% -19.3% -12.2%
DE Hospitality 0.1% -7.8% -10.1% -52.1% -28.9% -25.1%
DE Market 0.3% -2.8% -0.8% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • KEC outperformed the Hospitality industry which returned -52.1% over the past year.
  • KEC underperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
KEC
Industry
5yr Volatility vs Market

Value

 Is Keck Seng Investments (Hong Kong) undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Keck Seng Investments (Hong Kong) to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Keck Seng Investments (Hong Kong).

DB:KEC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:KEC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.92 (1 + (1- 25%) (100.92%))
1.413
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.413 * 6.65%)
9.62%

Discounted Cash Flow Calculation for DB:KEC using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Keck Seng Investments (Hong Kong) is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:KEC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 9.62%)
2019 322.48 Est @ -2.58% 294.16
2020 316.88 Est @ -1.74% 263.68
2021 313.24 Est @ -1.15% 237.77
2022 310.94 Est @ -0.73% 215.30
2023 309.55 Est @ -0.45% 195.52
2024 308.80 Est @ -0.24% 177.92
2025 308.48 Est @ -0.1% 162.13
2026 308.47 Est @ -0% 147.89
2027 308.68 Est @ 0.07% 135.00
2028 309.03 Est @ 0.11% 123.29
Present value of next 10 years cash flows HK$1,952.65
DB:KEC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= HK$309.03 × (1 + 0.23%) ÷ (9.62% – 0.23%)
HK$3,296.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$3,296.19 ÷ (1 + 9.62%)10
HK$1,314.99
DB:KEC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$1,952.65 + HK$1,314.99
HK$3,267.65
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$3,267.65 / 340.20
HK$9.61
DB:KEC Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:KEC represents 0.11175x of SEHK:184
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.11175x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 9.61 x 0.11175
€1.07
Value per share (EUR) From above. €1.07
Current discount Discount to share price of €0.54
= -1 x (€0.54 - €1.07) / €1.07
49.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Keck Seng Investments (Hong Kong) is available for.
Intrinsic value
50%
Share price is €0.54 vs Future cash flow value of €1.07
Current Discount Checks
For Keck Seng Investments (Hong Kong) to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Keck Seng Investments (Hong Kong)'s share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Keck Seng Investments (Hong Kong)'s share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Keck Seng Investments (Hong Kong)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Keck Seng Investments (Hong Kong)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:KEC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in HKD HK$0.58
SEHK:184 Share Price ** SEHK (2019-06-14) in HKD HK$4.85
Germany Hospitality Industry PE Ratio Median Figure of 10 Publicly-Listed Hospitality Companies 18.98x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Keck Seng Investments (Hong Kong).

DB:KEC PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:184 Share Price ÷ EPS (both in HKD)

= 4.85 ÷ 0.58

8.39x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Keck Seng Investments (Hong Kong) is good value based on earnings compared to the DE Hospitality industry average.
  • Keck Seng Investments (Hong Kong) is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Keck Seng Investments (Hong Kong)'s expected growth come at a high price?
Raw Data
DB:KEC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.39x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
27.2%per year
Germany Hospitality Industry PEG Ratio Median Figure of 5 Publicly-Listed Hospitality Companies 1.31x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Keck Seng Investments (Hong Kong), we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Keck Seng Investments (Hong Kong)'s assets?
Raw Data
DB:KEC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in HKD HK$11.02
SEHK:184 Share Price * SEHK (2019-06-14) in HKD HK$4.85
Germany Hospitality Industry PB Ratio Median Figure of 13 Publicly-Listed Hospitality Companies 2.06x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:KEC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:184 Share Price ÷ Book Value per Share (both in HKD)

= 4.85 ÷ 11.02

0.44x

* Primary Listing of Keck Seng Investments (Hong Kong).

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Keck Seng Investments (Hong Kong) is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Keck Seng Investments (Hong Kong)'s value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Keck Seng Investments (Hong Kong) has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Keck Seng Investments (Hong Kong) expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Keck Seng Investments (Hong Kong), future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
27.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Keck Seng Investments (Hong Kong) expected to grow at an attractive rate?
  • Keck Seng Investments (Hong Kong)'s earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Keck Seng Investments (Hong Kong)'s earnings growth is expected to exceed the Germany market average.
  • Unable to compare Keck Seng Investments (Hong Kong)'s revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:KEC Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:KEC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 27.2%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 18.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:KEC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in HKD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:KEC Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,022 464 197
2018-09-30 2,017 453 197
2018-06-30 2,011 443 198
2018-03-31 1,980 457 165
2017-12-31 1,949 472 131
2017-09-30 1,936 465 150
2017-06-30 1,923 459 168
2017-03-31 1,939 451 197
2016-12-31 1,955 443 225
2016-09-30 1,951 443 203
2016-06-30 1,946 442 181
2016-03-31 1,943 450 205

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Keck Seng Investments (Hong Kong)'s earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Keck Seng Investments (Hong Kong) is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:KEC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Keck Seng Investments (Hong Kong) Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KEC Past Financials Data
Date (Data in HKD Millions) EPS *
2018-12-31 0.58
2018-09-30 0.58
2018-06-30 0.58
2018-03-31 0.48
2017-12-31 0.39
2017-09-30 0.44
2017-06-30 0.49
2017-03-31 0.58
2016-12-31 0.66
2016-09-30 0.60
2016-06-30 0.53
2016-03-31 0.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Keck Seng Investments (Hong Kong) will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Keck Seng Investments (Hong Kong)'s future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Keck Seng Investments (Hong Kong) has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Keck Seng Investments (Hong Kong) performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Keck Seng Investments (Hong Kong)'s growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Keck Seng Investments (Hong Kong)'s year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Keck Seng Investments (Hong Kong)'s 1-year earnings growth exceeds its 5-year average (50.1% vs -14.7%)
  • Keck Seng Investments (Hong Kong)'s earnings growth has exceeded the DE Hospitality industry average in the past year (50.1% vs -2.6%).
Earnings and Revenue History
Keck Seng Investments (Hong Kong)'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Keck Seng Investments (Hong Kong) Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:KEC Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,022.40 196.58 530.33
2018-09-30 2,016.66 197.32 519.11
2018-06-30 2,010.91 198.06 507.90
2018-03-31 1,980.20 164.53 501.90
2017-12-31 1,949.50 131.01 495.90
2017-09-30 1,936.31 149.53 499.62
2017-06-30 1,923.12 168.06 503.35
2017-03-31 1,939.16 196.70 512.86
2016-12-31 1,955.21 225.35 522.38
2016-09-30 1,950.72 202.95 506.28
2016-06-30 1,946.23 180.55 490.18
2016-03-31 1,942.90 204.76 492.67
2015-12-31 1,939.57 228.97 495.15
2015-09-30 1,863.90 231.34 482.66
2015-06-30 1,788.24 233.70 470.16
2015-03-31 1,653.67 250.92 421.85
2014-12-31 1,519.09 268.14 373.53
2014-09-30 1,480.59 306.21 365.79
2014-06-30 1,442.09 344.28 358.05
2014-03-31 1,399.71 335.25 345.71
2013-12-31 1,357.33 326.23 333.37
2013-09-30 1,243.83 314.05 299.37
2013-06-30 1,227.21 301.87 297.78
2013-03-31 1,295.57 328.73 293.87
2012-12-31 1,363.94 355.59 289.96
2012-09-30 1,360.35 302.55 280.94
2012-06-30 1,356.76 249.51 271.93

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Keck Seng Investments (Hong Kong) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Keck Seng Investments (Hong Kong) used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Keck Seng Investments (Hong Kong)'s use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Keck Seng Investments (Hong Kong)'s performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Keck Seng Investments (Hong Kong) has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Keck Seng Investments (Hong Kong)'s financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Keck Seng Investments (Hong Kong)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Keck Seng Investments (Hong Kong) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Keck Seng Investments (Hong Kong)'s cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Keck Seng Investments (Hong Kong)'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Keck Seng Investments (Hong Kong) Company Filings, last reported 5 months ago.

DB:KEC Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 4,420.22 1,665.19 1,830.03
2018-09-30 4,420.22 1,665.19 1,830.03
2018-06-30 4,326.25 1,603.68 1,665.22
2018-03-31 4,326.25 1,603.68 1,665.22
2017-12-31 4,389.08 1,603.70 1,980.13
2017-09-30 4,389.08 1,603.70 1,980.13
2017-06-30 4,279.71 1,824.80 2,006.64
2017-03-31 4,279.71 1,824.80 2,006.64
2016-12-31 4,270.15 1,844.13 1,952.16
2016-09-30 4,270.15 1,844.13 1,952.16
2016-06-30 4,156.43 1,915.17 1,839.81
2016-03-31 4,156.43 1,915.17 1,839.81
2015-12-31 4,105.44 1,942.63 1,798.76
2015-09-30 4,105.44 1,942.63 1,798.76
2015-06-30 4,016.01 1,993.13 1,653.70
2015-03-31 4,016.01 1,993.13 1,653.70
2014-12-31 3,929.57 2,068.23 1,477.76
2014-09-30 3,929.57 2,068.23 1,477.76
2014-06-30 3,826.23 420.48 1,801.13
2014-03-31 3,826.23 420.48 1,801.13
2013-12-31 3,722.85 465.18 1,773.74
2013-09-30 3,682.49 428.59 1,765.86
2013-06-30 3,475.49 465.60 1,776.41
2013-03-31 3,475.49 465.60 1,776.41
2012-12-31 3,437.62 510.66 1,540.81
2012-09-30 3,437.62 510.66 1,540.81
2012-06-30 3,261.12 1,004.95 1,206.52
  • Keck Seng Investments (Hong Kong)'s level of debt (37.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.5% vs 37.7% today).
  • Debt is well covered by operating cash flow (27.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.2x coverage).
X
Financial health checks
We assess Keck Seng Investments (Hong Kong)'s financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Keck Seng Investments (Hong Kong) has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Keck Seng Investments (Hong Kong)'s current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.3%
Current annual income from Keck Seng Investments (Hong Kong) dividends.
If you bought €2,000 of Keck Seng Investments (Hong Kong) shares you are expected to receive €66 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Keck Seng Investments (Hong Kong)'s pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Keck Seng Investments (Hong Kong)'s dividend is below the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:KEC Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:KEC Past Annualized Dividends Data
Date (Data in HK$) Dividend per share (annual) Avg. Yield (%)
2019-03-25 0.160 3.097
2018-03-23 0.150 2.437
2017-09-25 0.150 2.197
2017-03-24 0.150 2.263
2016-09-26 0.150 2.588
2016-04-26 0.150 2.456
2015-08-28 0.150 2.490
2015-04-24 0.150 2.000
2015-03-25 0.150 1.911
2014-04-22 0.180 2.640
2014-03-21 0.180 2.904
2013-04-26 0.200 4.491
2013-03-22 0.200 5.135
2012-08-24 0.130 3.670
2012-03-27 0.125 3.887
2011-08-29 0.200 6.051
2011-03-31 0.200 5.405
2010-08-30 0.200 5.097
2010-04-26 0.200 5.014
2009-12-31 0.200 4.842
2009-09-29 0.150 3.887

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Keck Seng Investments (Hong Kong)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Keck Seng Investments (Hong Kong)'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Keck Seng Investments (Hong Kong) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Keck Seng Investments (Hong Kong) has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Keck Seng Investments (Hong Kong)'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Keck Seng Investments (Hong Kong) has no CEO, or we have no data on them.
Management Team

Kian Guan Ho

TITLE
Executive Chairman
COMPENSATION
HK$5M
AGE
73

Kian Hock Ho

TITLE
Deputy Executive Chairman
COMPENSATION
HK$5M
AGE
70

Paul Tse

TITLE
Executive Director
COMPENSATION
HK$215K
AGE
63

Evelyn Yu

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
62

Ivan Chan

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
48

Chung Tao Ho

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
44

Chung Hui Ho

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
42

Sing Beng Ng

TITLE
Company Secretary
AGE
52
TENURE
6.6 yrs
Board of Directors Tenure

Average tenure and age of the Keck Seng Investments (Hong Kong) board of directors in years:

12.9
Average Tenure
62.5
Average Age
  • The average tenure for the Keck Seng Investments (Hong Kong) board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Kian Guan Ho

TITLE
Executive Chairman
COMPENSATION
HK$5M
AGE
73

Kian Hock Ho

TITLE
Deputy Executive Chairman
COMPENSATION
HK$5M
AGE
70

Paul Tse

TITLE
Executive Director
COMPENSATION
HK$215K
AGE
63
TENURE
39.5 yrs

Evelyn Yu

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
62
TENURE
12.9 yrs

Ivan Chan

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
48
TENURE
12.9 yrs

Chung Tao Ho

TITLE
Executive Director
COMPENSATION
HK$5M
AGE
44
TENURE
10.7 yrs

Chung Hui Ho

TITLE
Executive Director
COMPENSATION
HK$2M
AGE
42
TENURE
10.7 yrs

Arthur Kwok

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
72
TENURE
24.4 yrs

Angela Wang

TITLE
Independent Non-Executive Director
COMPENSATION
HK$250K
AGE
60
TENURE
14.8 yrs

David Yu

TITLE
Independent Non Executive Director
COMPENSATION
HK$250K
AGE
70
TENURE
6.2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Keck Seng Investments (Hong Kong) insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
24. Apr 19 Buy Kim Swee Ho Individual 23. Apr 19 23. Apr 19 8,000 €0.60 €4,824
16. Apr 19 Buy Kim Swee Ho Individual 15. Apr 19 15. Apr 19 10,000 €0.60 €5,983
10. Jan 19 Buy Kim Swee Ho Individual 08. Jan 19 08. Jan 19 10,000 €0.54 €5,407
02. Jan 19 Buy Kim Swee Ho Individual 28. Dec 18 28. Dec 18 20,000 €0.55 €11,078
05. Dec 18 Buy Kim Swee Ho Individual 03. Dec 18 03. Dec 18 4,000 €0.65 €2,596
06. Dec 18 Buy Kim Swee Ho Individual 04. Dec 18 04. Dec 18 10,000 €0.63 €6,319
15. Nov 18 Buy Kim Swee Ho Individual 14. Nov 18 14. Nov 18 2,000 €0.68 €1,354
14. Nov 18 Buy Kim Swee Ho Individual 12. Nov 18 12. Nov 18 8,000 €0.70 €5,628
09. Nov 18 Buy Kim Swee Ho Individual 08. Nov 18 08. Nov 18 20,000 €0.71 €14,234
29. Jun 18 Buy Kansas Holdings Limited Company 27. Jun 18 27. Jun 18 250,000 €0.74 €184,106
X
Management checks
We assess Keck Seng Investments (Hong Kong)'s management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Keck Seng Investments (Hong Kong) has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Keck Seng Investments (Hong Kong) Limited, an investment holding company, engages in the hotel and club operations, and property investment and development activities. It operates through three segments: Hotel, Property, and Investment and Corporate. The Hotel segment offers hotel room accommodation services; and food and beverages at hotel restaurant outlets, as well as operates slot machines. The Property segment leases investment properties, which primarily consist of retail, commercial, and office properties; and develops, sells, and markets trading properties, as well as offers management services. The Investment and Corporate segment is involved in the non-trading and trading securities; financial instruments; and other treasury operations. It has operations in Hong Kong, Macau, the People's Republic of China, Vietnam, the United States, Canada, and Japan. The company was founded in 1973 and is based in Central, Hong Kong.

Details
Name: Keck Seng Investments (Hong Kong) Limited
KEC
Exchange: DB
Founded: 1973
HK$187,853,052
340,200,000
Website: http://www.keckseng.com.hk
Address: Keck Seng Investments (Hong Kong) Limited
West Tower,
Room 2902,
Central,
Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 184 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 02. Jan 1992
OTCPK KCKS.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB KEC Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
1,937
Keck Seng Investments (Hong Kong) employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 21:03
End of day share price update: 2019/06/14 00:00
Last earnings filing: 2019/04/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.