SGX:BLL

Stock Analysis Report

Executive Summary

PSL Holdings Limited, an investment holding company, provides land logistics and support services in Singapore and Indonesia.


Snowflake Analysis

Excellent balance sheet and overvalued.

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

BLL

-3.1%

SG Construction

-2.8%

SG Market


1 Year Return

2.2%

BLL

-12.5%

SG Construction

-4.7%

SG Market

Return vs Industry: BLL exceeded the SG Construction industry which returned -12.6% over the past year.

Return vs Market: BLL exceeded the SG Market which returned -5.2% over the past year.


Shareholder returns

BLLIndustryMarket
7 Day0%-3.1%-2.8%
30 Day-15.5%-2.7%-2.5%
90 Day-12.3%-2.1%-3.3%
1 Year2.2%2.2%-10.2%-12.5%-0.8%-4.7%
3 Year-74.9%-74.9%-23.0%-30.2%5.2%-5.9%
5 Year-91.1%-91.1%-38.4%-48.2%6.9%-11.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.19x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate BLL's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate BLL's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: BLL is unprofitable, so we can't compare its PE Ratio to the Construction industry average.

PE vs Market: BLL is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BLL is good value based on its PB Ratio (0.2x) compared to the SG Construction industry average (0.6x).


Next Steps

Future Growth

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

11.5%

Forecasted Capital Goods 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 PSL 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 PSL Holdings performed over the past 5 years?

-8.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BLL is currently unprofitable.

Growing Profit Margin: BLL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: BLL is unprofitable, and losses have increased over the past 5 years at a rate of -8.8% per year.

Accelerating Growth: Unable to compare BLL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BLL is unprofitable, making it difficult to compare its past year earnings growth to the Construction industry (-39.2%).


Return on Equity

High ROE: BLL has a negative Return on Equity (-8.54%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is PSL Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: BLL's short term assets (SGD28.5M) exceed its short term liabilities (SGD3.0M).

Long Term Liabilities: BLL's short term assets (SGD28.5M) exceed its long term liabilities (SGD6.6M).


Debt to Equity History and Analysis

Debt Level: BLL's debt to equity ratio (7.9%) is considered satisfactory.

Reducing Debt: BLL's debt to equity ratio has increased from 0% to 7.9% over the past 5 years.


Balance Sheet

Inventory Level: BLL has a high level of physical assets or inventory.

Debt Coverage by Assets: BLL's debt is covered by short term assets (assets are 13.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: BLL has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: BLL has sufficient cash runway for 1.7 years if free cash flow continues to reduce at historical rates of -18.6% each year.


Next Steps

Dividend

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


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%5.7%industryaverage3.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate BLL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate BLL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if BLL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if BLL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: BLL is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BLL's dividend in 3 years as they are not forecast to pay a notable one for the SG market.


Next Steps

Management

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

1.6yrs

Average management tenure


CEO

Chee Tak Lee (54yo)

0.3yrs

Tenure

0

Mr. Chee Tak Lee has been Chief Executive Officer of PSL Holdings Limited since October 24, 2019. Mr. Lee served as an Independent Non Executive Director of PSL Holdings Limited since July 22, 2019 until O ...


Leadership Team

NamePositionTenureCompensationOwnership
Chee Tak Lee
Chief Executive Officer0.3yrsno datano data
Stephen Leong
Executive Vice Chairman3.3yrsS$14.00kno data
Sjonanto Widjaja
Chief Financial Officer1.2yrsno datano data
Richard Melati
Executive Director0.7yrsno datano data
Hui Yap
Group Financial Controller2.6yrsno datano data
Kern Chua
Company Secretary1.6yrsno datano data
Yew Ghee Koh
GM - TSL Transport & Engineering Pte Ltd and Director of TSL Transport & Engineering Pte Ltd0yrsS$145.00kno data
Sudirman Kurniawan
Director of Marine Logistics4.2yrsS$60.00kno data

1.6yrs

Average Tenure

52.5yo

Average Age

Experienced Management: BLL's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Stephen Leong
Executive Vice Chairman3.3yrsS$14.00kno data
Richard Melati
Executive Director0.7yrsno datano data
Yew Ghee Koh
GM - TSL Transport & Engineering Pte Ltd and Director of TSL Transport & Engineering Pte Ltd0yrsS$145.00kno data
Choon Kow Teo
Independent Non-Executive Director8.5yrsS$42.00kno data
Yoke Ng
Non-Executive Non-Independent Chairman2.3yrsS$36.00k2.43% SGD125.9k
Wei Boon Wong
Independent Director2.7yrsS$42.00kno data
Fhifi Ronie
Independent Non-Executive Director0.8yrsno datano data
Ting Ting Leong
Independent Director0.3yrsno datano data

2.3yrs

Average Tenure

72yo

Average Age

Experienced Board: BLL's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.8%.


Top Shareholders

Company Information

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


Key Information

  • Name: PSL Holdings Limited
  • Ticker: BLL
  • Exchange: SGX
  • Founded: 1997
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: S$5.179m
  • Shares outstanding: 55.69m
  • Website: https://www.pslgroup.com.sg

Location

  • PSL Holdings Limited
  • 37 Jalan Pemimpin
  • No. 07-16, Mapex
  • Singapore
  • 577177
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BLLSGX (Singapore Exchange)YesOrdinary SharesSGSGDOct 1998
PLHABST (Boerse-Stuttgart)YesOrdinary SharesDEEUROct 1998

Biography

PSL Holdings Limited, an investment holding company, provides land logistics and support services in Singapore and Indonesia. It operates through two segments, Trading & Engineering, and Construction Logistics. The company engages in the installation of industrial machinery and equipment; mechanical engineering works; building construction and infrastructure activities; excavation and earth moving works; general engineering activities; and trading and supply of construction materials and related equipment. It is also involved in the real estate activities with own or leased properties; and provision of marine logistics services through its tugboats and barges. The company was incorporated in 1997 and is based in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/27 12:43
End of Day Share Price2020/02/27 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.