BST:TUS

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Tuan Sing Holdings

Executive Summary

Tuan Sing Holdings Limited, an investment holding company, engages in the property development and investment, hotels investment, and industrial services businesses in Singapore, Australia, China, Malaysia, and Indonesia.


Snowflake Analysis

Fair value second-rate dividend payer.


Similar Companies

Share Price & News

How has Tuan Sing Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TUS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.5%

TUS

1.5%

DE Real Estate

2.4%

DE Market


1 Year Return

-39.9%

TUS

-8.2%

DE Real Estate

-0.1%

DE Market

Return vs Industry: TUS underperformed the German Real Estate industry which returned -8.2% over the past year.

Return vs Market: TUS underperformed the German Market which returned -0.1% over the past year.


Shareholder returns

TUSIndustryMarket
7 Day-1.5%1.5%2.4%
30 Day-6.6%6.2%7.8%
90 Day-27.3%-7.8%-3.8%
1 Year-38.1%-39.9%-6.5%-8.2%1.5%-0.1%
3 Year-27.1%-31.9%28.0%20.3%-4.8%-12.1%
5 Year-38.2%-44.6%91.5%66.5%3.6%-9.5%

Price Volatility Vs. Market

How volatile is Tuan Sing Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Tuan Sing Holdings undervalued compared to its fair value and its price relative to the market?

8.04x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TUS (€0.13) is trading above our estimate of fair value (€0.04)

Significantly Below Fair Value: TUS is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TUS is good value based on its PE Ratio (8x) compared to the Real Estate industry average (10.3x).

PE vs Market: TUS is good value based on its PE Ratio (8x) compared to the German market (19x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TUS's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TUS is good value based on its PB Ratio (0.2x) compared to the DE Real Estate industry average (1.3x).


Next Steps

Future Growth

How is Tuan Sing Holdings forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-4.3%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Tuan Sing Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Tuan Sing Holdings performed over the past 5 years?

11.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TUS has a large one-off gain of SGD33.1M impacting its December 31 2019 financial results.

Growing Profit Margin: TUS's current net profit margins (10.7%) are lower than last year (39.1%).


Past Earnings Growth Analysis

Earnings Trend: TUS's earnings have grown by 11.5% per year over the past 5 years.

Accelerating Growth: TUS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TUS had negative earnings growth (-74.8%) over the past year, making it difficult to compare to the Real Estate industry average (10%).


Return on Equity

High ROE: TUS's Return on Equity (2.9%) is considered low.


Next Steps

Financial Health

How is Tuan Sing Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: TUS's short term assets (SGD619.4M) exceed its short term liabilities (SGD395.9M).

Long Term Liabilities: TUS's short term assets (SGD619.4M) do not cover its long term liabilities (SGD1.5B).


Debt to Equity History and Analysis

Debt Level: TUS's debt to equity ratio (153%) is considered high.

Reducing Debt: TUS's debt to equity ratio has reduced from 165.3% to 153% over the past 5 years.

Debt Coverage: TUS's debt is not well covered by operating cash flow (1.2%).

Interest Coverage: TUS's interest payments on its debt are not well covered by EBIT (0.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Tuan Sing Holdings's current dividend yield, its reliability and sustainability?

2.67%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TUS's dividend (2.67%) is higher than the bottom 25% of dividend payers in the German market (1.32%).

High Dividend: TUS's dividend (2.67%) is low compared to the top 25% of dividend payers in the German market (4.07%).


Stability and Growth of Payments

Stable Dividend: TUS's dividend payments have been volatile in the past 10 years.

Growing Dividend: TUS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (21.4%), TUS's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.0yrs

Average management tenure


CEO

William Liem Nursalim (46yo)

12.33yrs

Tenure

S$1,378,626

Compensation

Mr. William Nursalim, also known as William Liem, B.Sc., MBA, serves as an Interim Executive Director of SP Corporation Limited since February 10, 2020. He has been the Chief Executive Officer of Tuan Sing ...


CEO Compensation Analysis

Compensation vs Market: William Liem's total compensation ($USD970.37K) is above average for companies of similar size in the German market ($USD711.30K).

Compensation vs Earnings: William Liem's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
William Nursalim
CEO & Executive Director12.33yrsS$1.38mno data
Kok Leong
Chief Financial Officer1.75yrsno datano data
Peggy Wong
General Counsel2.83yrsno datano data
Joo Lim Ong
Senior Vice President of Sales3.08yrsno datano data
Kim Loh
Human Resource Director1.25yrsno datano data
Tiam Song Kock
Senior Vice President of Property Management3.08yrsno datano data
Fook Onn Yong
Managing Director of Soil & Foundationno datano datano data
Choong How Ng
Senior Vice President of Business Developmentno datano datano data
Tan Sin
Managing Director of Commodities Tradingno datano datano data
Lim Khoon
Managing Director of Tyre & Auto Productsno datano datano data

3.0yrs

Average Tenure

Experienced Management: TUS's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
William Nursalim
CEO & Executive Director12.33yrsS$1.38mno data
Yee Ming Eu
Independent Non-Executive Director0.75yrS$31.90kno data
Hong Kok Cheng
Independent & Non-Executive Director2.75yrsS$86.50kno data
Mei Fung Liem
Non-Independent & Non-Executive Director19.08yrsS$69.00kno data
Teow Huat Choo
Independent & Non-Executive Director18.25yrsS$133.50kno data

16.3yrs

Average Tenure

62yo

Average Age

Experienced Board: TUS's board of directors are seasoned and experienced ( 16.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Tuan Sing Holdings Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Tuan Sing Holdings Limited
  • Ticker: TUS
  • Exchange: BST
  • Founded: 1969
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: S$266.364m
  • Listing Market Cap: S$170.724m
  • Shares outstanding: 1.18b
  • Website: https://www.tuansing.com

Location

  • Tuan Sing Holdings Limited
  • 9 Oxley Rise
  • No. 03-02 The Oxley
  • Singapore
  • 238697
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
T24SGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992
TUSBST (Boerse-Stuttgart)YesOrdinary SharesDEEURJan 1992

Biography

Tuan Sing Holdings Limited, an investment holding company, engages in the property development and investment, hotels investment, and industrial services businesses in Singapore, Australia, China, Malaysia, and Indonesia. The company’s Property segment develops and invests in residential, commercial, and industrial properties; and provides property management services. Its Hotels Investment segment owns two five-star hotels managed by Hyatt International in Melbourne and Perth, Australia. The company’s Industrial Services segment trades in and markets various industrial commodities, including coal, rubber, and aluminum; and manufactures and markets polypropylene woven bags. Its Other Investments segment manufactures and sells printed circuit boards for customers in the automotive, computer peripheral, consumer electronics, telecommunication, healthcare, and instrument and control sectors; and retails golf-related lifestyle products, as well as deals in footwear. The company was formerly known as Hytex Limited and changed its name to Tuan Sing Holdings Limited in 1983. Tuan Sing Holdings Limited was founded in 1969 and is headquartered in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/28 23:12
End of Day Share Price2020/05/28 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.