SGX:PA3

Stock Analysis Report

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Executive Summary

TA Corporation Ltd, an investment holding company, operates in the property and construction business. More Details


Snowflake Analysis

Adequate balance sheet with weak fundamentals.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: Insufficient data to determine PA3's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine PA3's volatility change over the past year.


Market Performance


7 Day Return

0%

PA3

-0.02%

SG Construction

1.8%

SG Market


1 Year Return

-22.6%

PA3

-15.2%

SG Construction

-13.7%

SG Market

Return vs Industry: PA3 underperformed the SG Construction industry which returned -15.2% over the past year.

Return vs Market: PA3 underperformed the SG Market which returned -13.7% over the past year.


Shareholder returns

PA3IndustryMarket
7 Day0%-0.02%1.8%
30 Day2.5%4.3%12.8%
90 Day24.2%3.3%9.7%
1 Year-22.6%-22.6%-13.2%-15.2%-8.9%-13.7%
3 Year-48.6%-50.8%-37.7%-42.7%-11.6%-22.5%
5 Year-48.6%-54.4%-31.0%-40.6%10.7%-9.7%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.47x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: PA3 (SGD0.12) is trading above our estimate of fair value (SGD0.07)

Significantly Below Fair Value: PA3 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PA3 is unprofitable, so we can't compare its PE Ratio to the SG Construction industry average.

PE vs Market: PA3 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 PA3's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PA3's PB Ratio (0.5x) is in line with the SG Construction industry average.


Next Steps

Future Growth

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

13.5%

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 TA 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 TA performed over the past 5 years?

-9.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PA3 is currently unprofitable.

Growing Profit Margin: PA3 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: PA3 is unprofitable, and losses have increased over the past 5 years at a rate of 9.7% per year.

Accelerating Growth: Unable to compare PA3's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PA3 is unprofitable, making it difficult to compare its past year earnings growth to the Construction industry (-14.8%).


Return on Equity

High ROE: PA3 has a negative Return on Equity (-22.99%), as it is currently unprofitable.


Next Steps

Financial Health

How is TA's financial position?


Financial Position Analysis

Short Term Liabilities: PA3's short term assets (SGD400.7M) exceed its short term liabilities (SGD398.4M).

Long Term Liabilities: PA3's short term assets (SGD400.7M) exceed its long term liabilities (SGD239.8M).


Debt to Equity History and Analysis

Debt Level: PA3's debt to equity ratio (293.3%) is considered high.

Reducing Debt: PA3's debt to equity ratio has increased from 147.5% to 293.3% over the past 5 years.


Balance Sheet


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: Whilst unprofitable PA3 has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: PA3 is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 25.5% per year.


Next Steps

Dividend

What is TA current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate PA3's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PA3's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PA3's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PA3's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: PA3 is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PA3'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?

2.4yrs

Average board tenure


CEO

Tiam Boon Neo (57 yo)

no data

Tenure

Mr. Tiam Boon Neo, PBM serves as the Chief Executive Officer of TA Corporation Ltd and has been its Executive Director since March 7, 2011. Mr. Neo has been employed with TA since 1996 and has over 15 year...


Board Members

NamePositionTenureCompensationOwnership
Kiam Teck Liong
Executive Chairmanno datano data33.62%
SGD 21.4m
Tiam Boon Neo
CEO & Executive Directorno datano data16.96%
SGD 10.8m
Boo Fong Heng
Lead Independent Director2.92yrsno datano data
Bin Guan Goh
Independent Director9.17yrsno datano data
Thiam Neo
Alternate Director1.58yrsno data7.99%
SGD 5.1m
Tiam Neo
Alternate Director1.58yrsno data16.14%
SGD 10.3m
Teng Pang
Independent Director1.92yrsno datano data

2.4yrs

Average Tenure

63.5yo

Average Age

Experienced Board: PA3's board of directors are not considered experienced ( 2.4 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.


Ownership Breakdown

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


Top Shareholders

Company Information

TA Corporation Ltd's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TA Corporation Ltd
  • Ticker: PA3
  • Exchange: SGX
  • Founded: 1972
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: S$63.722m
  • Shares outstanding: 518.07m
  • Website: https://www.tiongaik.com.sg

Location

  • TA Corporation Ltd
  • No. 03-03 New World Centre
  • No. 1 Jalan Berseh
  • Singapore
  • 209037
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PA3SGX (Singapore Exchange)YesOrdinary SharesSGSGDNov 2011

Biography

TA Corporation Ltd, an investment holding company, operates in the property and construction business. It provides various construction services that cover structural, architectural, mechanical, and electr...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/28 11:04
End of Day Share Price2020/11/16 00:00
Earnings2020/06/30
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.