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WAC Holdings

SEHK:8619
Snowflake Description

Flawless balance sheet with weak fundamentals.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
8619
SEHK
HK$2B
Market Cap
  1. Home
  2. HK
  3. Commercial Services
Company description

WAC Holdings Limited, a construction engineering consultant company, provides structural and geotechnical engineering consultancy services in Hong Kong. The last earnings update was 6 days ago. More info.


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8619 Share Price and Events
7 Day Returns
-1.7%
SEHK:8619
-5.2%
HK Professional Services
-0.6%
HK Market
1 Year Returns
-
SEHK:8619
-27.4%
HK Professional Services
-9.8%
HK Market
8619 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
WAC Holdings (8619) -1.7% 0% 4.1% - - -
HK Professional Services -5.2% -0.4% -9.6% -27.4% -38.6% 2.9%
HK Market -0.6% -9.6% -7.5% -9.8% 1.6% -10.6%
1 Year Return vs Industry and Market
  • No trading data on 8619.
  • No trading data on 8619.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is WAC Holdings 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 WAC Holdings 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 WAC Holdings.

SEHK:8619 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 8%
Perpetual Growth Rate 10-Year HK Government Bond Rate 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 SEHK:8619
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6.7%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.847 (1 + (1- 25%) (0%))
0.898
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.898 * 6.65%)
7.97%

Discounted Cash Flow Calculation for SEHK:8619 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for WAC Holdings 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

SEHK:8619 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (HKD, Millions) Source Present Value
Discounted (@ 7.97%)
2020 9.75 Est @ 10.84% 9.03
2021 10.55 Est @ 8.19% 9.05
2022 11.22 Est @ 6.33% 8.91
2023 11.79 Est @ 5.03% 8.67
2024 12.27 Est @ 4.12% 8.36
2025 12.70 Est @ 3.49% 8.01
2026 13.09 Est @ 3.04% 7.65
2027 13.44 Est @ 2.73% 7.28
2028 13.78 Est @ 2.51% 6.91
2029 14.11 Est @ 2.36% 6.55
Present value of next 10 years cash flows HK$80.44
SEHK:8619 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= HK$14.11 × (1 + 2%) ÷ (7.97% – 2%)
HK$241.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= HK$241.02 ÷ (1 + 7.97%)10
HK$111.92
SEHK:8619 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= HK$80.44 + HK$111.92
HK$192.35
Equity Value per Share
(HKD)
= Total value / Shares Outstanding
= HK$192.35 / 960.00
HK$0.2
SEHK:8619 Discount to Share Price
Calculation Result
Value per share (HKD) From above. HK$0.20
Current discount Discount to share price of HK$2.30
= -1 x (HK$2.30 - HK$0.20) / HK$0.20
-1047.9%

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

  • The current share price of WAC Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 WAC Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are WAC Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:8619 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in HKD HK$0.00
SEHK:8619 Share Price ** SEHK (2019-08-19) in HKD HK$2.3
Asia Professional Services Industry PE Ratio Median Figure of 21 Publicly-Listed Professional Services Companies 14.65x
Hong Kong Market PE Ratio Median Figure of 1,498 Publicly-Listed Companies 9.83x

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

** Primary Listing of WAC Holdings.

SEHK:8619 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:8619 Share Price ÷ EPS (both in HKD)

= 2.3 ÷ 0.00

-584.2x

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

  • WAC Holdings is loss making, we can't compare its value to the Asia Professional Services industry average.
  • WAC Holdings is loss making, we can't compare the value of its earnings to the Hong Kong market.
Price based on expected Growth
Does WAC Holdings's expected growth come at a high price?
Raw Data
SEHK:8619 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -584.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Professional Services Industry PEG Ratio Median Figure of 6 Publicly-Listed Professional Services Companies 1.19x
Hong Kong Market PEG Ratio Median Figure of 486 Publicly-Listed Companies 0.75x

*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 WAC Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on WAC Holdings's assets?
Raw Data
SEHK:8619 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in HKD HK$0.07
SEHK:8619 Share Price * SEHK (2019-08-19) in HKD HK$2.3
Hong Kong Professional Services Industry PB Ratio Median Figure of 12 Publicly-Listed Professional Services Companies 2.29x
Hong Kong Market PB Ratio Median Figure of 2,185 Publicly-Listed Companies 0.84x
SEHK:8619 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:8619 Share Price ÷ Book Value per Share (both in HKD)

= 2.3 ÷ 0.07

31.12x

* Primary Listing of WAC Holdings.

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

  • WAC Holdings is overvalued based on assets compared to the HK Professional Services industry average.
X
Value checks
We assess WAC Holdings'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 Professional Services 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 Professional Services industry average (and greater than 0)? (1 check)
  5. WAC Holdings has a total score of 0/6, 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 WAC Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 WAC 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
47.4%
Expected Professional Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is WAC Holdings expected to grow at an attractive rate?
  • Unable to compare WAC Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare WAC Holdings's earnings growth to the Hong Kong market average as no estimate data is available.
  • Unable to compare WAC Holdings's revenue growth to the Hong Kong market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SEHK:8619 Future Growth Rates Data Sources
Data Point Source Value (per year)
Hong Kong Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 47.4%
Asia Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 14.6%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.3%

*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
SEHK:8619 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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.
SEHK:8619 Future Estimates Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SEHK:8619 Past Financials Data
Date (Data in HKD Millions) Revenue Cash Flow Net Income *
2019-06-30 64 -4
2019-03-31 65 -2 0
2018-12-31 66 3
2018-09-30 66 15 -3
2018-06-30 67 9 -1
2018-03-31 69 -7 2
2017-03-31 71 12 16

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if WAC Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if WAC Holdings 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
SEHK:8619 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from WAC Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:8619 Future Estimates Data
Date (Data in HKD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SEHK:8619 Past Financials Data
Date (Data in HKD Millions) EPS *
2019-06-30 0.00
2019-03-31 0.00
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 0.00
2017-03-31

*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 WAC Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine WAC Holdings's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. WAC Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Commercial Services companies here
  3. WAC Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess WAC Holdings'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 Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
WAC Holdings has a total score of 0/6, 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 WAC Holdings 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 WAC Holdings's growth in the last year to its industry (Professional Services).
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.
  • WAC Holdings does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare WAC Holdings's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare WAC Holdings's 1-year growth to the Asia Professional Services industry average as it is not currently profitable.
Earnings and Revenue History
WAC Holdings'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 WAC Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:8619 Past Revenue, Cash Flow and Net Income Data
Date (Data in HKD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 64.22 -3.54 21.28
2019-03-31 64.63 -0.42 18.39
2018-12-31 66.44 2.73 16.59
2018-09-30 65.81 -3.34 15.83
2018-06-30 67.45 -0.62 14.85
2018-03-31 69.09 2.09 14.11
2017-03-31 70.57 16.29 12.29
2016-03-31 68.01 13.28 13.40

*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.
  • It is difficult to establish if WAC Holdings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if WAC Holdings has efficiently used its assets last year compared to the Asia Professional Services industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if WAC Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess WAC Holdings'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 Professional Services 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.
WAC Holdings has a total score of 0/6, 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 WAC Holdings'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 WAC Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • WAC Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • WAC Holdings has no long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of WAC Holdings'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.
  • Low level of unsold assets.
  • WAC Holdings has no debt, it does not need to be covered by short term assets.
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 WAC Holdings Company Filings, last reported 1 month ago.

SEHK:8619 Past Debt and Equity Data
Date (Data in HKD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30
2019-03-31 70.95 0.00 45.59
2018-12-31 70.07 4.84 55.55
2018-09-30 70.07 4.84 55.55
2018-06-30 27.93 9.26 10.82
2018-03-31 27.93 9.26 10.82
2017-03-31 10.98 7.23 1.16
2016-03-31 7.79 8.83 0.60
  • WAC Holdings has no debt.
  • WAC Holdings currently has no debt however we can't compare to 5 years ago as we have no data for that period.
  • WAC Holdings has no debt, it does not need to be covered by operating cash flow.
  • WAC Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess WAC Holdings'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. WAC Holdings has a total score of 6/6, 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 WAC Holdings'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
0%
Current annual income from WAC Holdings dividends.
If you bought HK$2,000 of WAC Holdings shares you are expected to receive HK$0 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?
  • Unable to evaluate WAC Holdings's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate WAC Holdings's dividend against the top 25% market benchmark as the company has not reported any payouts.
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
SEHK:8619 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
Asia Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 2.5%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 977 Stocks 3.9%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.3%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.3%
Hong Kong Top 25% Dividend Yield 75th Percentile 6.3%

Industry and Market average data is calculated daily.

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

SEHK:8619 Future Dividends Estimate Data
Date (Data in HK$) Dividend per Share (annual) Avg. No. Analysts

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

  • Unable to perform a dividend volatility check as WAC Holdings has not reported any payouts.
  • Unable to verify if WAC Holdings's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of WAC Holdings's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as WAC Holdings has not reported any payouts.
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 WAC Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - 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 WAC Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. WAC Holdings has a total score of 0/6, 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 WAC Holdings'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.
CEO
Po Lam Kwong
COMPENSATION HK$2,012,000
AGE 62
CEO Bio

Mr. Po Lam Kwong served as Executive Director at Win Win Way Construction Holdings Ltd since May 6, 2016 until April 26, 2019 and was responsible for quality and technical assurance. Mr. Kwong has been Executive Director of WAC Holdings Ltd. since November 21, 2017 and serves as its Managing Director. He served as a Director of WAC Holdings Ltd. from August 25, 2017 to November 21, 2017. He has been working at Wong & Cheng Consulting Engineers Limited which is specialised in engineering design, preparation of drawings and technical specifications, contract administration, site supervision and other related works since January 1994 and serves as its Managing Director. He has over 30 years of experience in the construction industry. Before joining Win Win Way Construction Holdings, he worked as assistant engineer of Stresstek (H.K.) Limited, in which he was responsible for construction site management and supervision, from January 1980 to March 1981. He then worked as structural designer of Gordon Wu & Associates, in which he was responsible for engineering design and construction site inspections, from April 1981 to September 1982. He then joined Ove Arup & Partners Hong Kong Limited as an Engineer, in which he was responsible for civil/structural engineering design and on-site supervision, from September 1982 to January 1986. From February 1986 to November 1989, he was the assistant head of the structural section and structural engineer of KNW Architects & Engineers Limited, in which he was responsible for site inspections and supervision, processing engineering plans submission and providing structural engineering advices. He was employed by the Hong Kong Government as structural engineer from December 1989 to August 1990. He joined Dywidag-Systems International Canada Limited as engineer from February 1992 to December 1993 and was mainly responsible for project planning, civil/structural engineering design and site supervision. He was admitted as fellow of the Hong Kong Institution of Engineers in July 2003. He was qualified as Chartered Engineer of the Engineering Council of the United Kingdom in May 1986 and a Registered Professional Engineer with Engineers Registration Board of Hong Kong in November 1995. He was also authorised as Civil Engineer by the Land, Public Works and Transport Bureau of the Macao Special Administrative Region in January 2016. He was qualified as registered structural engineer since 1987 and is a authorised person (list of engineers), registered inspector (list of engineers) and registered geotechnical engineer with Building Authority. He obtained the Certificate of Class I Registered Structural Engineer of the PRC in July 2001. He has been a member of the Institution of Civil Engineers, Institution of Structural Engineers and the Association of Professional Engineers and Geoscientists of British Columbia, Canada. He was awarded with an associateship in Civil and Structural Engineering from Hong Kong Polytechnic University in November 1981. He also obtained a degree of Master of Science in Engineering (Civil Engineering) from the University of Hong Kong in November 2000.

CEO Compensation
  • Po Lam's compensation has increased whilst company is loss making.
  • Po Lam's remuneration is about average for companies of similar size in Hong Kong.
Management Team

Yin Nin Chan

TITLE
Chairman of the Board & Compliance Officer
COMPENSATION
HK$3M
AGE
63

Po Lam Kwong

TITLE
MD & Executive Director
COMPENSATION
HK$2M
AGE
62

Kwok Wai Chan

TITLE
Financial Controller & Company Secretary
AGE
34

Xiaoyan Su

TITLE
Executive Director
AGE
29
Board of Directors Tenure

Average tenure and age of the WAC Holdings board of directors in years:

1
Average Tenure
57.5
Average Age
  • The average tenure for the WAC Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Yin Nin Chan

TITLE
Chairman of the Board & Compliance Officer
COMPENSATION
HK$3M
AGE
63

Po Lam Kwong

TITLE
MD & Executive Director
COMPENSATION
HK$2M
AGE
62
TENURE
2 yrs

Xiaoyan Su

TITLE
Executive Director
AGE
29
TENURE
0.2 yrs

Stella Chu

TITLE
Independent Non-Executive Director
COMPENSATION
HK$54K
AGE
45
TENURE
1 yrs

Raymond Choy

TITLE
Independent Non Executive Director
COMPENSATION
HK$54K
AGE
70
TENURE
1 yrs

Kyran Sze

TITLE
Independent Non-Executive Director
COMPENSATION
HK$54K
AGE
53
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
14. Mar 19 Sell Yanhong Zhang Individual 13. Mar 19 13. Mar 19 -50,000,000 HK$1.30 HK$-65,000,024
06. Mar 19 Sell Yanhong Zhang Individual 06. Mar 19 06. Mar 19 -50,000,000 HK$1.20 HK$-59,999,936
18. Jan 19 Buy Yanhong Zhang Individual 16. Jan 19 16. Jan 19 190,928,000 HK$0.80 HK$152,742,487
18. Jan 19 Sell Fung Ting Yuen Individual 16. Jan 19 16. Jan 19 -190,928,000 HK$0.80 HK$-152,742,487
X
Management checks
We assess WAC Holdings'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. WAC Holdings 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

Do WAC Holdings Limited’s (HKG:8619) Returns On Capital Employed Make The Cut?

Finally, we'll look at how its current liabilities affect its ROCE. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for WAC Holdings: 0.14 = HK$9.8m ÷ (HK$89m - HK$19m) (Based on the trailing twelve months to December 2018.) Therefore, WAC Holdings has an ROCE of 14%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

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How Much Of WAC Holdings Limited (HKG:8619) Do Insiders Own?

Taking a look at our data on the ownership groups (below), it's seems that institutions don't own shares in the company. … Private Company Ownership We can see that Private Companies own 49%, of the shares on issue. … Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.

Simply Wall St -

Can WAC Holdings Limited (HKG:8619) Improve Its Returns?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Our data shows WAC Holdings has a return on equity of 3.9% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Don’t Buy WAC Holdings Limited (HKG:8619) Until You Understand Its ROCE

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

What Percentage Of WAC Holdings Limited (HKG:8619) Shares Do Insiders Own?

A look at the shareholders of WAC Holdings Limited (HKG:8619) can tell us which group is most powerful. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Taking a look at the our data on the ownership groups (below), it's seems that.

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Company Info

Description

WAC Holdings Limited, a construction engineering consultant company, provides structural and geotechnical engineering consultancy services in Hong Kong. The company offers structural engineering services, such as loading calculation and stress design; geotechnical engineering services, including calculation of earth surface conditions and assessment of risks posed by site conditions; and material engineering services that include analyzing the use of and selecting building materials in a construction project. It also undertakes infrastructure works comprising drainage works; and provides registered structural engineers and authorized persons services related to alteration and addition works, as well as expert services. The company was founded in 1987 and is headquartered in Cheung Sha Wan, Hong Kong.

Details
Name: WAC Holdings Limited
8619
Exchange: SEHK
Founded: 1987
HK$2,236,800,000
960,000,000
Website: http://www.wcce.hk
Address: WAC Holdings Limited
9 Wing Hong Street,
Floor 9,
Cheung Sha Wan,
Kowloon, Hong Kong
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 8619 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 17. Sep 2018
Number of employees
Current staff
Staff numbers
125
WAC Holdings employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/08/19 13:02
End of day share price update: 2019/08/19 00:00
Last estimates confirmation: 2019/06/27
Last earnings filing: 2019/08/13
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/03/31


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.