SGX:F9D

Stock Analysis Report

Executive Summary

Boustead Singapore Limited, an investment holding company, provides energy-related engineering, real estate, and geospatial and healthcare technology solutions in Africa, the Asia Pacific, Australia and Oceania, Europe, the Middle East, and North and South America.

Snowflake

Fundamentals

Excellent balance sheet and fair value.

Share Price & News

How has Boustead Singapore's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

F9D

0.5%

SG Construction

0.9%

SG Market


1 Year Return

0%

F9D

-17.3%

SG Construction

0.4%

SG Market

Return vs Industry: F9D exceeded the SG Construction industry which returned -17.3% over the past year.

Return vs Market: F9D matched the SG Market which returned 0.4% over the past year.


Share holder returns

F9DIndustryMarket
7 Day0%0.5%0.9%
30 Day3.3%-0.7%-2.1%
90 Day-2.5%-4.4%-7.0%
1 Year4.0%0%-14.9%-17.3%4.4%0.4%
3 Year3.0%-6.5%-12.9%-20.7%15.5%3.1%
5 Year-36.2%-53.9%-42.2%-51.0%11.6%-6.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Boustead Singapore undervalued based on future cash flows and its price relative to the stock market?

35%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: F9D (SGD0.79) is trading below our estimate of fair value (SGD1.21)

Significantly Undervalued: F9D is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: F9D is good value based on its PE Ratio (12.9x) compared to the Construction industry average (13.3x).

PE vs Market: F9D is good value based on its PE Ratio (12.9x) compared to the SG market (13.3x).


Price Based on Expected Growth

Low PEG Ratio: Insufficient data to calculate F9D's PEG Ratio to determine if it is good value.


Price Based on Value of Assets

PB vs Industry: F9D is overvalued based on its PB Ratio (1.2x) compared to the SG Construction industry average (0.6x).


Next Steps

Future Growth

How is Boustead Singapore expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

-8.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: F9D's earnings are forecast to decline over the next 3 years (-8% per year).

Earnings vs Market: F9D's earnings are forecast to decline over the next 3 years (-8% per year).

High Growth Earnings: F9D's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if F9D's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if F9D's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: Insufficient data to determine if F9D's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Boustead Singapore performed over the past 5 years?

-20.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: F9D's earnings have declined by -20.7% per year over the past 5 years.

Accelerating Growth: F9D's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: F9D had negative earnings growth (-7.4%) over the past year, making it difficult to compare to the Construction industry average (-52.7%).


Return on Equity

High ROE: F9D's Return on Equity (9.2%) is considered low.


Return on Assets

ROA vs Industry: F9D has a higher Return on Assets than the Construction industry average last year.


Return on Capital Employed

ROCE Improving: F9D's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Boustead Singapore's financial position?


Financial Position Analysis

Short Term Liabilities: F9D's short term assets (SGD523.7M) exceeds its short term liabilities (SGD286.7M)

Long Term Liabilities: F9D's short term assets (SGD523.7M) exceeds its long term liabilities (SGD183.4M)


Debt to Equity History and Analysis

Debt Level: F9D's debt to equity ratio (22.5%) is considered satisfactory

Reducing Debt: F9D's debt to equity ratio has increased from 16.4% to 22.5% over the past 5 years.

Debt Coverage: F9D's debt is well covered by operating cash flow (54.2%).

Interest Coverage: F9D earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: F9D has a low level of unsold assets or inventory.

Debt Coverage by Assets: F9D's debt is covered by short term assets (assets are 4.836830x debt).


Next Steps

Dividend

What is Boustead Singapore's current dividend yield, its reliability and sustainability?

3.80%

Current Dividend Yield


Dividend Yield vs Market

company3.8%marketbottom25%2.5%markettop25%5.6%industryaverage3.3%forecastin3Yearsn/a

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: F9D's dividend (3.8%) is higher than the bottom 25% of dividend payers in the SG market (2.5%).

High Dividend: F9D's dividend (3.8%) is low compared to the top 25% of dividend payers in the SG market (5.57%).

Stable Dividend: F9D's dividend payments have been volatile in the past 10 years.

Growing Dividend: F9D's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (49.1%), F9D'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

What is the CEO of Boustead Singapore's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

Fong Fui Wong (76yo)

23.5yrs

Tenure

0

Mr. Fong Fui Wong, B.Eng (Chem) has been the Group Chief Executive Officer and Chairman of Boustead Singapore Limited since April 15, 1996. Mr. Wong serves as Group Managing Director of Boustead Singapore  ...


Management Age and Tenure

3.4yrs

Average Tenure

66yo

Average Age

Experienced Management: F9D's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

16.9yrs

Average Tenure

68yo

Average Age

Experienced Board: F9D's board of directors are seasoned and experienced ( 16.9 years average tenure).


Insider Trading

Insider Buying: F9D insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellS$292,00013 Sep 19
Ngien Chong
EntityIndividual
Role
Member of the Board of Directors
Independent & Non-Executive Director
Shares400,000
Max PriceS$0.73
SellS$17,064,62313 Sep 19
Sang Chun Holdings Pte Ltd
EntityCompany
Shares23,376,203
Max PriceS$0.73
BuyS$17,475,49313 Sep 19
Fong Fui Wong
EntityIndividual
Role
Chief Executive Officer
Chairman & Group CEO
Shares23,776,203
Max PriceS$0.73
SellS$585,07502 Aug 19
FMR LLC
EntityCompany
Shares750,000
Max PriceS$0.78
SellS$75,57322 Jul 19
FMR LLC
EntityCompany
Shares93,300
Max PriceS$0.81
SellS$178,22015 Jul 19
FMR LLC
EntityCompany
Shares226,800
Max PriceS$0.79
BuyS$1,109,02519 Mar 19
FMR LLC
EntityCompany
Shares1,395,000
Max PriceS$0.80
BuyS$171,65703 Dec 18
FMR LLC
EntityCompany
Shares214,600
Max PriceS$0.80

Ownership Breakdown


Management Team

  • Alvin Kok

    Company Secretary

    • Tenure: 0yrs
  • Kai Keong Loh (66yo)

    Consultant & Non-Executive Director

    • Tenure: 14.7yrs
  • Fong Fui Wong (76yo)

    Chairman & Group CEO

    • Tenure: 23.5yrs
  • Chak Chakraborty

    Chief Executive Officer of Controls & Electrics Pte Ltd

    • Tenure: 0yrs
  • Shiok Faun Chan

    Group Chief Financial Officer

    • Tenure: 0yrs
  • Keith Chu

    Senior Vice President of Corporate Marketing & Investor Relations

    • Tenure: 0yrs
  • Yu Loon Wong (45yo)

    Deputy Group CEO & Executive Director

    • Tenure: 6.5yrs
  • Wee Leong Yeo

    Senior Vice President of Internal Audit

    • Tenure: 0yrs
  • Karen Kor

    Senior Vice President of Group Human Resources

    • Tenure: 0yrs
  • Thomas Pramotedham

    Chief Executive Officer of Esri Singapore Pte Ltd

    • Tenure: 0yrs

Board Members

  • Kai Keong Loh (66yo)

    Consultant & Non-Executive Director

    • Tenure: 14.7yrs
  • Fong Fui Wong (76yo)

    Chairman & Group CEO

    • Tenure: 23.5yrs
  • Godfrey Ernest Scotchbrook (73yo)

    Independent Non-Executive Director

    • Tenure: 19.1yrs
  • Ngien Chong (68yo)

    Independent & Non-Executive Director

    • Tenure: 23.4yrs
  • Thomas Chu

    MD & Executive Director of Boustead Projects Limited

    • Tenure: 0yrs
  • Yu Loon Wong (45yo)

    Deputy Group CEO & Executive Director

    • Tenure: 6.5yrs
  • Tan Giap

    Independent Non-Executive Director

    • Tenure: 1.3yrs

Company Information

Boustead Singapore Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Boustead Singapore Limited
  • Ticker: F9D
  • Exchange: SGX
  • Founded: 1828
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: S$388.049m
  • Shares outstanding: 491.20m
  • Website: https://www.boustead.sg

Number of Employees


Location

  • Boustead Singapore Limited
  • No. 08-01 Edward Boustead Centre
  • 82 Ubi Avenue 4
  • Singapore
  • 408832
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
F9DSGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992
BSTG.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992

Biography

Boustead Singapore Limited, an investment holding company, provides energy-related engineering, real estate, and geospatial and healthcare technology solutions in Africa, the Asia Pacific, Australia and Oc ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 12:47
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.

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