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Boardroom

SGX:B10
Snowflake Description

Adequate balance sheet with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B10
SGX
SGD190M
Market Cap
  1. Home
  2. SG
  3. Commercial Services
Company description

Boardroom Limited, an investment holding company, provides professional business services in Singapore, Malaysia, Hong Kong, Australia, and China. The last earnings update was 77 days ago. More info.


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B10 Share Price and Events
7 Day Returns
2.8%
SGX:B10
-2.7%
Asia Professional Services
0%
SG Market
1 Year Returns
14.6%
SGX:B10
-22.4%
Asia Professional Services
0.2%
SG Market
B10 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Boardroom (B10) 2.8% 2.8% 20.7% 14.6% 26.6% 56%
Asia Professional Services -2.7% -16.1% -19.8% -22.4% 5.3% -34.4%
SG Market 0% 0.9% 0.2% 0.2% 9.4% -5.5%
1 Year Return vs Industry and Market
  • B10 outperformed the Professional Services industry which returned -22.4% over the past year.
  • B10 outperformed the Market in Singapore which returned 0.2% over the past year.
Price Volatility
B10
Industry
5yr Volatility vs Market

B10 Value

 Is Boardroom 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 Boardroom 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 Boardroom.

SGX:B10 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 8.6%
Perpetual Growth Rate 10-Year SG Government Bond Rate 2.3%

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 SGX:B10
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.85
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.851 (1 + (1- 17%) (32.04%))
1.051
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (1.051 * 5.96%)
8.57%

Discounted Cash Flow Calculation for SGX:B10 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Boardroom 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.

SGX:B10 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 8.57%)
2020 10.53 Est @ 6.26% 9.70
2021 11.07 Est @ 5.08% 9.39
2022 11.54 Est @ 4.24% 9.01
2023 11.96 Est @ 3.66% 8.61
2024 12.35 Est @ 3.25% 8.19
2025 12.71 Est @ 2.97% 7.76
2026 13.07 Est @ 2.77% 7.35
2027 13.41 Est @ 2.63% 6.95
2028 13.75 Est @ 2.53% 6.56
2029 14.09 Est @ 2.46% 6.19
Present value of next 10 years cash flows SGD79.71
SGX:B10 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SGD14.09 × (1 + 2.3%) ÷ (8.57% – 2.3%)
SGD230.00
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD230.00 ÷ (1 + 8.57%)10
SGD101.08
SGX:B10 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD79.71 + SGD101.08
SGD180.79
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD180.79 / 209.66
SGD0.86
SGX:B10 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.86
Current discount Discount to share price of SGD0.91
= -1 x (SGD0.91 - SGD0.86) / SGD0.86
-5%

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

  • The current share price of Boardroom 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 Boardroom's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Boardroom's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:B10 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.03
SGX:B10 Share Price ** SGX (2019-07-17) in SGD SGD0.91
Asia Professional Services Industry PE Ratio Median Figure of 23 Publicly-Listed Professional Services Companies 14.72x
Singapore Market PE Ratio Median Figure of 327 Publicly-Listed Companies 13.09x

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

** Primary Listing of Boardroom.

SGX:B10 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:B10 Share Price ÷ EPS (both in SGD)

= 0.91 ÷ 0.03

33.8x

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

  • Boardroom is overvalued based on earnings compared to the Asia Professional Services industry average.
  • Boardroom is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does Boardroom's expected growth come at a high price?
Raw Data
SGX:B10 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 33.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.5%per year
Asia Professional Services Industry PEG Ratio Median Figure of 5 Publicly-Listed Professional Services Companies 1.73x
Singapore Market PEG Ratio Median Figure of 119 Publicly-Listed Companies 1.69x

*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 Boardroom, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Boardroom's assets?
Raw Data
SGX:B10 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD0.46
SGX:B10 Share Price * SGX (2019-07-17) in SGD SGD0.91
Asia Professional Services Industry PB Ratio Median Figure of 38 Publicly-Listed Professional Services Companies 1.18x
Singapore Market PB Ratio Median Figure of 431 Publicly-Listed Companies 0.74x
SGX:B10 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:B10 Share Price ÷ Book Value per Share (both in SGD)

= 0.91 ÷ 0.46

1.98x

* Primary Listing of Boardroom.

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

  • Boardroom is overvalued based on assets compared to the Asia Professional Services industry average.
X
Value checks
We assess Boardroom'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. Boardroom 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.

B10 Future Performance

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

  • No analysts cover Boardroom, future earnings growth has been estimated based on fundamentals.
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
9.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Boardroom expected to grow at an attractive rate?
  • Boardroom's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Boardroom's earnings growth is expected to exceed the Singapore market average.
  • Unable to compare Boardroom's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:B10 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:B10 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.5%
Asia Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 19%
Asia Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 14.8%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.7%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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
SGX:B10 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:B10 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 95 14 5
2018-12-31 92 15 7
2018-09-30 78 14 12
2018-06-30 76 13 12
2018-03-31 83 12 12
2017-12-31 81 11 11
2017-09-30 76 10 9
2017-06-30 73 12 9
2017-03-31 70 11 8
2016-12-31 68 7 7
2016-09-30 68 10 5
2016-06-30 68 7 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Boardroom's earnings are expected to grow by 9.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Boardroom 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
SGX:B10 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Boardroom Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:B10 Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 0.03
2018-12-31 0.03
2018-09-30 0.06
2018-06-30 0.06
2018-03-31 0.06
2017-12-31 0.05
2017-09-30 0.05
2017-06-30 0.04
2017-03-31 0.04
2016-12-31 0.04
2016-09-30 0.03
2016-06-30 0.03

*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 Boardroom will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Boardroom'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 Asia 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.
Boardroom has a total score of 2/6, 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.

B10 Past Performance

  How has Boardroom 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 Boardroom'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.
  • Boardroom's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Boardroom's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Boardroom's 1-year earnings growth is negative, it can't be compared to the Asia Professional Services industry average.
Earnings and Revenue History
Boardroom'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 Boardroom Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:B10 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 94.88 5.44 0.18
2018-12-31 91.59 6.95
2018-09-30 78.24 11.66 3.23
2018-06-30 76.06 12.30 1.44
2018-03-31 83.17 11.65 0.88
2017-12-31 80.67 10.57
2017-09-30 76.47 8.93 5.77
2017-06-30 72.99 8.70 3.54
2017-03-31 69.74 7.55 0.84
2016-12-31 68.03 7.25
2016-09-30 67.92 5.45 0.25
2016-06-30 68.10 5.74 0.34
2016-03-31 67.89 5.68 0.35
2015-12-31 69.17 6.72
2015-09-30 65.42 6.64 -6.20
2015-06-30 65.64 6.84 -5.90
2015-03-31 66.37 8.06 -6.00
2014-12-31 64.38 7.21 -5.89
2014-06-30 64.03 7.67 12.52
2014-03-31 63.05 7.94 0.14
2013-12-31 62.13 8.16 11.98
2013-09-30 61.32 8.12 -0.30
2013-06-30 61.36 8.30
2013-03-31 60.21 7.80 0.76
2012-12-31 60.47 8.10 0.58
2012-09-30 59.82 7.25 0.49

*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.
  • Boardroom has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Boardroom used its assets less efficiently than the Asia Professional Services industry average last year based on Return on Assets.
  • Boardroom's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Boardroom'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.
Boardroom has a total score of 1/6, 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.

B10 Health

 How is Boardroom'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 Boardroom's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Boardroom is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Boardroom's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Boardroom'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.
  • Debt is covered by short term assets, assets are 1.2x debt.
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 Boardroom Company Filings, last reported 3 months ago.

SGX:B10 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 95.65 46.70 23.56
2018-12-31 95.31 48.36 26.93
2018-09-30 94.29 49.59 22.55
2018-06-30 81.86 8.95 15.76
2018-03-31 82.22 8.50 18.77
2017-12-31 82.08 8.50 22.20
2017-09-30 78.17 9.25 17.95
2017-06-30 76.45 9.25 16.77
2017-03-31 78.33 10.00 20.73
2016-12-31 77.23 10.00 21.66
2016-09-30 72.42 10.75 17.75
2016-06-30 69.41 10.75 12.46
2016-03-31 72.81 11.50 17.64
2015-12-31 72.98 11.50 22.65
2015-09-30 69.93 12.25 15.76
2015-06-30 69.14 12.25 13.48
2015-03-31 70.68 13.00 16.23
2014-12-31 69.85 13.00 16.19
2014-06-30 67.60 12.50 9.84
2014-03-31 64.40 16.00 11.03
2013-12-31 64.17 15.75 7.81
2013-09-30 64.87 14.40 6.97
2013-06-30 63.98 14.75 10.70
2013-03-31 66.48 14.50 7.41
2012-12-31 66.04 15.25 6.16
2012-09-30 67.39 16.50 8.94
  • Boardroom's level of debt (48.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24.8% vs 48.8% today).
  • Debt is well covered by operating cash flow (29.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.1x coverage).
X
Financial health checks
We assess Boardroom'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. Boardroom has a total score of 4/6, 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.

B10 Dividends

 What is Boardroom'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
2.21%
Current annual income from Boardroom dividends.
If you bought SGD2,000 of Boardroom shares you are expected to receive SGD44 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?
  • Boardroom's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.59%).
  • Boardroom's dividend is below the markets top 25% of dividend payers in Singapore (5.54%).
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
SGX:B10 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 2.4%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 278 Stocks 3.8%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.7%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.6%
Singapore Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

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

SGX:B10 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-09 0.020 2.354
2019-02-26 0.020 2.645
2018-04-25 0.025 3.261
2017-03-31 0.020 3.051
2016-04-05 0.020 3.180
2015-11-13 0.000 0.000
2015-04-10 0.040 6.762
2014-08-29 0.030 5.251
2014-02-06 0.030 5.248
2013-10-30 0.030 5.146
2013-02-05 0.030 4.854
2012-10-08 0.030 5.309
2011-08-05 0.030 5.643
2011-02-11 0.030 5.481
2010-10-25 0.030 5.164
2010-08-20 0.030 5.544
2010-02-22 0.030 5.458
2009-08-05 0.030 5.356
2009-02-20 0.020 4.132
2008-08-12 0.030 5.851

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Boardroom's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
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 Boardroom's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - 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 Boardroom afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Boardroom has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

B10 Management

 What is the CEO of Boardroom'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
Kim Teo
AGE 60
TENURE AS CEO 18.9 years
CEO Bio

Mr. Teo Poh Jin, also known as Kim, has been the Chief Executive Officer and Executive Director of Boardroom Limited since August 2000 and August 5, 2009 respectively. Mr. Teo served as Chief Executive Officer of CMG First State Investments, Singapore from 1989 to 2001. Mr. Teo served as Chief Executive Officer of Asia of AIB Govett (Asia) Limited from 2001 to 2003. He served as Head of Retail Equities of CIMB-GK Securities Pte Ltd. from 2004 to February 2007. He held various management positions with Wardley Limited and Wardley Investment Services Ltd. He served as an Executive Director of CIMB-GK Securities Pte Ltd. from 2004 to November 2006. Mr. Teo served as Independent Director of Esmart Holdings Limited. since December 29, 2006. He served as a Director of Duty Free International Limited until March 6, 2009. He is also a member of Investment Committee for National Kidney Foundation and Young President Organisation and serves as the Chairman of Finance Committee for National Crime Prevention Council. Mr. Teo holds a Bachelor of Arts in Economics (Honours) degree from Heriot-Watt University, Edinburgh.

CEO Compensation
  • Insufficient data for Kim to compare compensation growth.
  • Insufficient data for Kim to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the Boardroom management team in years:

3.8
Average Tenure
52
Average Age
  • The tenure for the Boardroom management team is about average.
Management Team

Kim Teo

TITLE
CEO & Executive Director
AGE
60
TENURE
18.9 yrs

Adrian Kow

TITLE
Group CFO & COO
AGE
52
TENURE
3.9 yrs

Mui Kiow Ang

TITLE
Managing Director of Johor Bahru Operations

Chester Leong

TITLE
Regional MD of Boardroom Business Solutions Pte. Ltd & Head of Operations of Boardroom China Ltd
TENURE
1.6 yrs

Victor Lai

TITLE
Regional MD of Boardroom Corporate & Advisory Services Pte. Ltd - Singapore

Samantha Tai

TITLE
Chief Executive Officer of Boardroom Corporate Services (KL) Sdn. Bhd - Malaysia

Rhett Tregunna

TITLE
Chief Executive Officer of Boardroom Pty Limited - Australia

Poh Huat Chin

TITLE
Regional Financial Controller

Ngiam May Ling

TITLE
Company Secretary
TENURE
3.8 yrs

Irene Liew

TITLE
Executive Director of Kuala Lumpur Operations
AGE
51
Board of Directors Tenure

Average tenure and age of the Boardroom board of directors in years:

12.3
Average Tenure
60
Average Age
  • The average tenure for the Boardroom board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Geok Khim Goh

TITLE
Non-Executive & Non-Independent Chairman
AGE
87
TENURE
14.7 yrs

Kim Teo

TITLE
CEO & Executive Director
AGE
60
TENURE
9.9 yrs

Lye Mak

TITLE
Non-Executive & Independent Director
AGE
60
TENURE
14.7 yrs

Spencer Lee

TITLE
Lead Independent Director
AGE
68

Thomas Teo

TITLE
Non-Executive & Non-Independent Director
AGE
54
TENURE
6.4 yrs

Christopher Grubb

TITLE
Non-Executive & Independent Director
AGE
72
TENURE
5.9 yrs

Goh Yew Lin

TITLE
Alternate Director
AGE
59
TENURE
14.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SGD) Value (SGD)
30. May 19 Buy GKG Investment Holdings Pte Ltd Company 30. May 19 30. May 19 1,000 SGD0.88 SGD880
29. May 19 Buy GKG Investment Holdings Pte Ltd Company 29. May 19 29. May 19 500 SGD0.88 SGD440
27. May 19 Buy GKG Investment Holdings Pte Ltd Company 27. May 19 27. May 19 500 SGD0.88 SGD440
24. May 19 Buy GKG Investment Holdings Pte Ltd Company 24. May 19 24. May 19 1,000 SGD0.88 SGD880
23. May 19 Buy GKG Investment Holdings Pte Ltd Company 23. May 19 23. May 19 200 SGD0.88 SGD176
22. May 19 Buy GKG Investment Holdings Pte Ltd Company 22. May 19 22. May 19 5,000 SGD0.88 SGD4,400
21. May 19 Buy GKG Investment Holdings Pte Ltd Company 21. May 19 21. May 19 81,100 SGD0.88 SGD71,368
17. May 19 Buy GKG Investment Holdings Pte Ltd Company 16. May 19 16. May 19 134,800 SGD0.88 SGD118,624
16. May 19 Buy GKG Investment Holdings Pte Ltd Company 16. May 19 16. May 19 303,700 SGD0.88 SGD267,256
X
Management checks
We assess Boardroom'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. Boardroom 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.

B10 News

Simply Wall St News

What Does Boardroom Limited's (SGX:B10) Balance Sheet Tell Us About It?

With this growth in debt, the current cash and short-term investment levels stands at S$24m , ready to be used for running the business. … Moreover, B10 has generated cash from operations of S$14m in the last twelve months, resulting in an operating cash to total debt ratio of 23%, signalling that B10’s current level of operating cash is high enough to cover debt. … Next Steps: B10’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Boardroom Limited (SGX:B10) Delivered A Weaker ROE Than Its Industry

Our data shows Boardroom has a return on equity of 7.3% for the last year. … One way to conceptualize this, is that for each SGD1 of shareholders' equity it has, the company made SGD0.073 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Boardroom Limited (SGX:B10) Struggling With Its 8.2% Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Why Boardroom Limited's (SGX:B10) High P/E Ratio Isn't Necessarily A Bad Thing

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … How Do I Calculate A Price To Earnings Ratio … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Does Boardroom's Share Price Gain of 38% Match Its Business Performance?

To wit, the Boardroom share price has climbed 38% in five years, easily topping the market return of 18%. … During five years of share price growth, Boardroom achieved compound earnings per share (EPS) growth of 5.2% per year. … This EPS growth is slower than the share price growth of 6.7% per year, over the same period.

Simply Wall St -

Is Boardroom Limited's (SGX:B10) Balance Sheet Strong Enough To Weather A Storm?

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … So, understanding the company's financial health becomes. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

Taking A Look At Boardroom Limited's (SGX:B10) ROE

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every SGD1 worth of shareholders' equity, it generated SGD0.12 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Know This Before Buying Boardroom Limited (SGX:B10) For Its Dividend

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Historically, Boardroom Limited (SGX:B10) has paid dividends to shareholders, and these days it yields 3.3%. … Let's dig deeper into whether Boardroom should have a place in your portfolio.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Boardroom Limited (SGX:B10)

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at Boardroom Limited's (SGX:B10) P/E ratio and reflect on what it tells us about the company's share price. … Boardroom has a price to earnings ratio of 12.61, based on the last twelve months.

Simply Wall St -

Where Boardroom Limited (SGX:B10) Stands In Terms Of Earnings Growth Against Its Industry

Examining how Boardroom Limited (SGX:B10) is performing as a company requires looking at more than just a years' earnings. … Below, I will run you through a simple sense check to build perspective on how Boardroom is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its professional services industry peers. … Did B10's recent earnings growth beat the long-term trend and the industry.

Simply Wall St -

B10 Company Info

Description

Boardroom Limited, an investment holding company, provides professional business services in Singapore, Malaysia, Hong Kong, Australia, and China. The company operates through Corporate Secretarial; Share Registry; and Accounting, Taxation & Payroll Services segments. It offers corporate secretarial services for private limited companies and public listed corporations, including company secretary services, as well as corporate secretarial consultancy, advisory, assistance, and support services. The company also provides share registry services comprising share registrar, unit registrar, share transfer agent, warrant agent, bond agent, employee equity plan administration, voting, meeting, shareholders analytics, investor solicitation, and transfer agency services for public listed corporations. In addition, it offers book-keeping, financial statements preparation, payroll and payment processing, goods and services tax accounting, tax advisory, and human resource advisory services. The company was founded in 1968 and is headquartered in Singapore.

Details
Name: Boardroom Limited
B10
Exchange: SGX
Founded: 1968
SGD189,742,466
209,660,184
Website: http://www.boardroomlimited.com
Address: Boardroom Limited
No. 32-01, Singapore Land Tower,
50 Raffles Place,
Singapore,
048623,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX B10 Ordinary Shares Singapore Exchange SG SGD 01. Sep 2000
Number of employees
Current staff
Staff numbers
0
Boardroom employees.
Industry
Research and Consulting Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/23 12:40
End of day share price update: 2019/07/17 00:00
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


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.