Announcement • May 27
PEC Ltd. Approves Special Dividend Resolution PEC Ltd. at its EGM, held on May 5, 2025, approved the Special Dividend of SGD 0.20 per share (the "Special Dividend Resolution"). Announcement • Feb 21
PEC to be Delisted from the Mainboard of the Singapore Exchange Securities Trading Alliance Energy Services is proposing to take engineering company PEC Ltd. private by way of a scheme of arrangement for SGD 0.64 per share in cash and SGD 0.20 per share through a special cash dividend. Both companies have agreed to the offeror acquiring all issued and paid-up ordinary shares in PEC's share capital from all its shareholders, excluding the shares PEC holds in treasury, they said in a joint statement on February 17. The offeror has also obtained irrevocable undertakings from a group of PEC shareholders to vote in favour of the scheme and the special dividend, and to sell their combined stake of approximately 63.4% to the offeror. The PEC shareholders group includes executive chairman Edna Ko and its chief executive Robert Dompeling. Once the scheme takes effect, PEC will be delisted from the mainboard of the Singapore Exchange Securities Trading, subject to the exchange's approval, Alliance Energy Services and PEC said. Reported Earnings • Feb 15
First half 2025 earnings released: EPS: S$0.011 (vs S$0.02 in 1H 2024) First half 2025 results: EPS: S$0.011 (down from S$0.02 in 1H 2024). Revenue: S$186.8m (down 35% from 1H 2024). Net income: S$2.85m (down 45% from 1H 2024). Profit margin: 1.5% (down from 1.8% in 1H 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Recent Insider Transactions Derivative • Dec 05
Executive Chairman exercised options to buy S$66k worth of stock. On the 2nd of December, Poh Thim Ko exercised options to buy 78k shares at a strike price of around S$0.87, costing a total of S$68k. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. Poh Thim currently holds 35.58m shares (0.1407925176950468 of the company). Company insiders have collectively bought S$135k more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Nov 01
Upcoming dividend of S$0.035 per share Eligible shareholders must have bought the stock before 08 November 2024. Payment date: 25 November 2024. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Singaporean dividend payers (6.0%). Lower than average of industry peers (3.5%). Reported Earnings • Oct 15
Full year 2024 earnings released: EPS: S$0.063 (vs S$0.027 in FY 2023) Full year 2024 results: EPS: S$0.063 (up from S$0.027 in FY 2023). Revenue: S$491.0m (up 14% from FY 2023). Net income: S$16.0m (up 136% from FY 2023). Profit margin: 3.3% (up from 1.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Declared Dividend • Oct 12
Dividend of S$0.035 announced Shareholders will receive a dividend of S$0.035. Ex-date: 8th November 2024 Payment date: 25th November 2024 Dividend yield will be 5.5%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 11
PEC Ltd., Annual General Meeting, Oct 25, 2024 PEC Ltd., Annual General Meeting, Oct 25, 2024, at 15:00 Singapore Standard Time. Location: 14 international business park, singapore 609922, Singapore Announcement • Sep 23
PEC Ltd. Announces Change of Company Secretary The Board of Directors of PEC Ltd. announced that Ms Cheok Hui Yee and Mr. Chin Yee Seng have been appointed as the Company Secretaries of the Company in place of Ms Siau Kuei Lian with effect from 23 September 2024. Reported Earnings • Aug 29
Full year 2024 earnings released Full year 2024 results: Revenue: S$491.0m (up 14% from FY 2023). Net income: S$16.0m (up 136% from FY 2023). Profit margin: 3.3% (up from 1.6% in FY 2023). The increase in margin was driven by higher revenue. New Risk • Aug 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.7% net profit margin). Announcement • Aug 21
PEC Ltd. Announces Resignation of Pek Hak Bin as Non-Executive Independent Director, Chairman of Remuneration Committee and Member of the Audit and Risk Management Committee and Nominating Committee PEC Ltd. announced resignation of Pek Hak Bin as Non-Executive Independent Director, Chairman of Remuneration Committee and Member of the Audit and Risk Management Committee and Nominating Committee. Reason For Cessation: On 15 August 2024, the Company was informed that Mr. Pek Hak Bin has been disqualified to act as a director pursuant to Section 155A of the Companies Act 1967 of Singapore for a period of 5 years from 9 July 2024. The Company was also informed that Mr. Pek Hak Bin was made aware on 15 August 2024 of his disqualification and he has submitted his application to the Accounting & Corporate Regulatory Authority of Singapore for permission to, inter alia, act as a director. The Board through its Nominating Committee will initiate the selection process to identify potential candidates, including Mr. Pek Hak Bin, subject to the outcome of his application, to fill the role of an independent director, in line with applicable listing rules and the Code of Corporate Governance (issued by the Monetary Authority of Singapore on 12 August 2018). New Risk • Jun 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: S$130.1m (US$96.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (S$130.1m market cap, or US$96.4m). Reported Earnings • Feb 13
First half 2024 earnings released: EPS: S$0.02 (vs S$0.011 in 1H 2023) First half 2024 results: EPS: S$0.02 (up from S$0.011 in 1H 2023). Revenue: S$287.0m (up 50% from 1H 2023). Net income: S$5.21m (up 82% from 1H 2023). Profit margin: 1.8% (up from 1.5% in 1H 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year whereas the company’s share price has increased by 8% per year. New Risk • Feb 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: S$132.1m (US$99.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (S$132.1m market cap, or US$99.0m). Announcement • Nov 25
PEC Ltd. Approves Final Dividend for the Year Ended 30 June 2023, Payable on 24 November 2023 PEC Ltd. announced at annual general meeting held on October 27, 2023, the shareholders approved the payment of a tax exempt one-tier final dividend of 2 cents per ordinary share for the financial year ended 30 June 2023 and that such dividends, if approved, would be payable on 24 November 2023. Upcoming Dividend • Nov 02
Upcoming dividend of S$0.02 per share at 3.8% yield Eligible shareholders must have bought the stock before 09 November 2023. Payment date: 24 November 2023. Payout ratio is on the higher end at 75% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Singaporean dividend payers (6.8%). Lower than average of industry peers (4.7%). Announcement • Nov 01
PEC Ltd. Announces Cessation of David Wong Cheong Fook as Non-Executive and Non-Independent Director, Member of Audit and Risk Management Committee, Nominating Committee and Remuneration Committee and Changes in Composition of Board and Board Committees PEC Ltd. announced cessation of David Wong Cheong Fook as Non-Executive and Non-Independent Director, member of Audit and Risk Management Committee, Nominating Committee and Remuneration Committee. Other DirectorShips Present: Director of Papua New Guinea Sustainable Development Programme - Deep Identity Pte Ltd. Mr. David Wong has been serving on the Board of the Company since 8 January 2014. He has indicated his intention to retire as the Non-Executive and Non-Independent Director, member of Audit and Risk Management Committee, Nominating Committee and Remuneration Committee on 31 October 2023 to pave way for board refreshment and to devote more time to his other commitments. Consequently, the composition of the Board and Board Committees shall be as follows with effect from 31 October 2023: Board of Directors: Ms Edna Ko Poh Thim (Executive Chairman); Mr. Robert Dompeling (Group Chief Executive Officer); Mr. Wong Peng (Non-Executive and Non-Independent Director); Ms Joy Tan Whei Mien (Lead Independent Director); Mr. Pek Hak Bin (Independent Director); Mr. Winston Ngan Wan Sing (Independent Director); and Ms Yvonne Tan (Independent Director). Audit and Risk Management Committee: Mr. Winston Ngan Wan Sing (Chairman); Ms Joy Tan Whei Mien; Mr. Pek Hak Bin; and Ms Yvonne Tan. Nominating Committee: Ms Joy Tan Whei Mien (Chairman); Mr. Pek Hak Bin; Mr. Winston Ngan Wan Sing; and Ms Yvonne Tan. Remuneration Committee: Mr. Pek Hak Bin (Chairman); Ms Joy Tan Whei Mien; Mr. Winston Ngan Wan Sing; and Ms Yvonne Tan. New Risk • Oct 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: S$135.8m (US$98.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (S$135.8m market cap, or US$98.9m). Reported Earnings • Oct 13
Full year 2023 earnings released: EPS: S$0.027 (vs S$0.056 in FY 2022) Full year 2023 results: EPS: S$0.027 (down from S$0.056 in FY 2022). Revenue: S$430.9m (flat on FY 2022). Net income: S$6.77m (down 52% from FY 2022). Profit margin: 1.6% (down from 3.3% in FY 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Sep 09
PEC Ltd. Appoints Tan Peck Hong Yvonne as Independent Director The Nominating Committee of PEC Ltd. has reviewed Ms. Yvonne Tan's curriculum vitae and declaration of independence, and has concluded that Ms Yvonne Tan has met the requisite standards as required by the Code of Corporate Governance 2018 (the "Code") and is also satisfied that Ms Yvonne tan is considered independent under the Code. The Nominating Committee has recommended the appointment of Ms Yvonne Tan as an Independent Director of the Company and the Board of Directors has approved her appointment based on her qualifications and experience. Job Title: Independent Director and a member of the Audit and Risk Management Committee, Nominating Committee and Remuneration Committee. Effective from September 8, 2023. Working Experience: PreceptsGroup International Pte Ltd, Group General Counsel (2022- current) Bih Li & Lee LLP, Advocates and Solicitors (2021-2022) ExxonMobil Asia Pacific Pte Ltd. (1989-2020) Senior Legal Counsel (2018-2020) Lubes Law Coordinator Asia Pacific (2016 to 2019) ExxonMobil Chemical Asia /ExxonMobil Asia Pacific trading as EXTAP (Oil trading division)/Esso Korea Inc(Gas), Mobil Korea Lubricants Oil Co. (remote from Singapore) /Esso Singapore Pte Ltd. (the Pre-ExxonMobil merger entity from 1989 -2000). Other DirectorShips Past: Ptarmigan Niseko Pte Ltd. b. Ptarmigan Services Limited. Professional Qualifications: Bachelor of Laws Hons, Second Class Upper Honours - National University of Singapore. Admitted to Singapore Bar - 1985. With effect from 8 September 2023, the composition of the Board and Board Committees shall be as follows: Board of Directors: Ms Edna Ko Poh Thim (Executive Chairman), Mr. Robert Dompeling (Group Chief Executive Officer), Mr. Wong Peng (Non-Executive and Non-Independent Director), Mr. David Wong Cheong Fook (Non-Executive and Non-Independent Director), Ms Joy Tan Whei Mien (Lead Independent Director), Mr. Pek Hak Bin (Independent Director), Mr. Winston Ngan Wan Sing (Independent Director), Ms Yvonne Tan (Independent Director). Audit and Risk Management Committee: Mr. Winston Ngan Wan Sing (Chairman), Mr. David Wong Cheong Fook, Ms Joy Tan Whei Mien, Mr. Pek Hak Bin, Ms Yvonne Tan. Nominating Committee: Ms Joy Tan Whei Mien (Chairman), Mr. David Wong Cheong Fook, Mr. Pek Hak Bin, Mr. Winston Ngan Wan Sing, Ms Yvonne Tan, Remuneration Committee: Mr. Pek Hak Bin (Chairman), Mr. David Wong Cheong Fook, Ms Joy Tan Whei Mien, Mr. Winston Ngan Wan Sing, Ms Yvonne Tan. Reported Earnings • Aug 30
Full year 2023 earnings released: EPS: S$0.027 (vs S$0.056 in FY 2022) Full year 2023 results: EPS: S$0.027 (down from S$0.056 in FY 2022). Revenue: S$430.9m (flat on FY 2022). Net income: S$6.77m (down 52% from FY 2022). Profit margin: 1.6% (down from 3.3% in FY 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Aug 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.8% net profit margin). Board Change • Aug 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Winston Ngan was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 14
First half 2023 earnings released: EPS: S$0.011 (vs S$0.02 in 1H 2022) First half 2023 results: EPS: S$0.011 (down from S$0.02 in 1H 2022). Revenue: S$191.0m (down 2.3% from 1H 2022). Net income: S$2.86m (down 43% from 1H 2022). Profit margin: 1.5% (down from 2.6% in 1H 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jan 07
PEC Ltd. Announces Change of Composition of the Board and Board Committees The Board of Directors of PEC Ltd. referred to its announcement pursuant to Rule 704(7) of the Listing Manual of the SGX-ST dated 6 January 2023 which contained the details of the redesignation of Mr. David Wong Cheong Fook as an Independent Director to Non-Executive and Non-Independent Director and the relinquishment of his role as a Lead Independent Director and Chairman of the Audit and Risk Management Committee. Appointment of Lead Independent Director: Ms. Joy Tan Whei Mien, an Independent Director of the Company, has been appointed as the Lead Independent director with effect from 8 January 2023. Appointment of Chairman of the Audit and Risk Management Committee: Mr. Winston Ngan Wan Sing, a member of the ARMC, has been appointed as Chairman of the ARMC with effect from 8 January 2023. Change of composition of the Board and Board Committees: Consequently, the composition of the Board of Directors, the ARMC, the Nominating Committee and Remuneration Committee of the Company shall be as follows with effect from 8 January 2023: Board of Directors: Ms. Edna Ko Poh Thim (Executive Chairman), Mr. Robert Dompeling (Group Chief Executive Officer), Mr. Wong Peng (Non-Executive and Non-Independent Director), Mr. David Wong Cheong Fook (Non-Executive and Non-Independent Director), Ms. Joy Tan Whei Mien (Lead Independent Director), Mr. Pek Hak Bin (Independent Director) and Mr. Winston Ngan Wan Sing (Independent Director). Audit and Risk Management Committee: Mr. Winston Ngan Wan Sing (Chairman), Mr. David Wong Cheong Fook, Ms. Joy Tan Whei Mien and Mr. Pek Hak Bin. Nominating Committee: Ms. Joy Tan Whei Mien (Chairman), Mr. David Wong Cheong Fook, Mr. Pek Hak Bin and Mr. Winston Ngan Wan Sing. Remuneration Committee: Mr. Pek Hak Bin (Chairman), Mr. David Wong Cheong Fook, Ms. Joy Tan Whei Mien and Mr. Winston Ngan Wan Sing. Upcoming Dividend • Nov 03
Upcoming dividend of S$0.035 per share Eligible shareholders must have bought the stock before 10 November 2022. Payment date: 24 November 2022. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Singaporean dividend payers (6.7%). In line with average of industry peers (4.3%). Reported Earnings • Oct 13
Full year 2022 earnings released: EPS: S$0.056 (vs S$0.088 in FY 2021) Full year 2022 results: EPS: S$0.056 (down from S$0.088 in FY 2021). Revenue: S$428.0m (up 13% from FY 2021). Net income: S$14.1m (down 37% from FY 2021). Profit margin: 3.3% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Full year 2022 earnings released: EPS: S$0.056 (vs S$0.088 in FY 2021) Full year 2022 results: EPS: S$0.056 (down from S$0.088 in FY 2021). Revenue: S$428.0m (up 13% from FY 2021). Net income: S$14.1m (down 37% from FY 2021). Profit margin: 3.3% (down from 5.9% in FY 2021). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 14
First half 2022 earnings: EPS and revenues exceed analyst expectations First half 2022 results: EPS: S$0.02 (up from S$0.015 in 1H 2021). Revenue: S$195.4m (up 11% from 1H 2021). Net income: S$4.99m (up 35% from 1H 2021). Profit margin: 2.6% (up from 2.1% in 1H 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 22%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Nov 04
Upcoming dividend of S$0.025 per share Eligible shareholders must have bought the stock before 11 November 2021. Payment date: 24 November 2021. Trailing yield: 4.2%. Lower than top quartile of Singaporean dividend payers (5.2%). Higher than average of industry peers (2.7%). Reported Earnings • Aug 29
Full year 2021 earnings released: EPS S$0.082 (vs S$0.05 loss in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: S$379.4m (down 23% from FY 2020). Net income: S$20.9m (up S$33.7m from FY 2020). Profit margin: 5.5% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 24
New 90-day high: S$0.43 The company is up 13% from its price of S$0.38 on 26 November 2020. The Singaporean market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 10.0% over the same period. Reported Earnings • Feb 12
First half 2021 earnings released: EPS S$0.015 (vs S$0.024 in 1H 2020) The company reported a poor first half result with weaker earnings and revenues, although profit margins were flat. First half 2021 results: Revenue: S$175.7m (down 40% from 1H 2020). Net income: S$3.70m (down 40% from 1H 2020). Profit margin: 2.1% (in line with 1H 2020). Over the last 3 years on average, earnings per share has fallen by 86% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Dec 31
New 90-day high: S$0.42 The company is up 6.0% from its price of S$0.40 on 01 October 2020. The Singaporean market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is up 5.0% over the same period. Reported Earnings • Dec 12
Full year 2020 earnings released: S$0.05 loss per share The company reported a soft full year result with weaker earnings and control over expenses, although revenues were improved. Full year 2020 results: Revenue: S$495.1m (up 26% from FY 2019). Net loss: S$12.8m (down 254% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 04
New 90-day low: S$0.35 The company is down 29% from its price of S$0.49 on 05 August 2020. The Singaporean market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 2.0% over the same period. Is New 90 Day High Low • Oct 15
New 90-day low: S$0.40 The company is down 21% from its price of S$0.50 on 16 July 2020. The Singaporean market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 2.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day low: S$0.40 The company is down 20% from its price of S$0.50 on 19 June 2020. The Singaporean market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 4.0% over the same period.