Announcement • Jul 16
Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 31, 2026 Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 31, 2026, at 11:00 Singapore Standard Time. Location: orchard rendezvous hotel, 1 tanglin road, level 2 antica ballroom, singapore 247905, Singapore New Risk • May 31
New major risk - Revenue and earnings growth Earnings have declined by 15% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 15% per year over the past 5 years. Minor Risk Market cap is less than US$100m (S$19.2m market cap, or US$15.1m). Reported Earnings • Jul 15
Full year 2025 earnings released: S$0.006 loss per share (vs S$0.007 profit in FY 2024) Full year 2025 results: S$0.006 loss per share (down from S$0.007 profit in FY 2024). Revenue: S$82.1m (down 8.7% from FY 2024). Net loss: S$1.77m (down 187% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 35% 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. Announcement • Jul 15
Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 31, 2025 Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 31, 2025, at 11:00 Singapore Standard Time. Location: orchard rendezvous hotel, 1 tanglin road, level 2 antica ballroom, singapore 247905, Singapore New Risk • May 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. 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: Major Risk Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Market cap is less than US$100m (S$23.6m market cap, or US$18.4m). New Risk • Mar 19
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 2.8% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Paying a dividend despite being loss-making. Market cap is less than US$100m (S$23.6m market cap, or US$17.7m). Announcement • Oct 26
Tung Lok Restaurants (2000) Ltd to Report First Half, 2025 Results on Nov 14, 2024 Tung Lok Restaurants (2000) Ltd announced that they will report first half, 2025 results on Nov 14, 2024 New Risk • Oct 22
New minor risk - Dividend sustainability The company has a short dividend paying track record. Continuous dividend paying years: 1 Dividend yield: 2.8% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (2.3% net profit margin). Market cap is less than US$100m (S$38.1m market cap, or US$29.0m). Announcement • Aug 23
Tung Lok Restaurants (2000) Ltd Approves Tax Exempt (One-Tier) First and Final Dividend for the Financial Year Ended 31 March 2024 Tung Lok Restaurants (2000) Ltd. announced at its AGM held on July 31, 2024, the shareholders approved the payment of a tax exempt (one-tier) first and final dividend of 0.224 Singapore cents per ordinary share for the financial year ended 31 March 2024. Declared Dividend • Jul 17
Dividend of S$0.0022 announced Shareholders will receive a dividend of S$0.0022. Ex-date: 8th August 2024 Payment date: 30th August 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (6% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 56% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 16
Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 31, 2024 Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 31, 2024, at 11:00 Singapore Standard Time. Location: orchard rendezvous hotel, 1 tanglin road, level 2 antica ballroom, singapore 247905, Singapore Reported Earnings • Jun 05
Full year 2024 earnings released: EPS: S$0.008 (vs S$0.015 in FY 2023) Full year 2024 results: EPS: S$0.008 (down from S$0.015 in FY 2023). Revenue: S$90.0m (up 4.4% from FY 2023). Net income: S$2.05m (down 51% from FY 2023). Profit margin: 2.3% (down from 4.9% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 31
Tung Lok Restaurants (2000) Ltd Announces Executive Changes The Board of Directors of Tung Lok Restaurants (2000) Ltd. announced that Mr. Cho Form Po has been appointed as Company Secretary of the Company in place of Mr. Lee Tiong Hock who has resigned with effect from 30 May 2024. New Risk • May 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Major Risk Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Market cap is less than US$100m (S$27.4m market cap, or US$20.3m). Reported Earnings • Nov 11
First half 2024 earnings released: EPS: S$0.001 (vs S$0.004 in 1H 2023) First half 2024 results: EPS: S$0.001 (down from S$0.004 in 1H 2023). Revenue: S$42.6m (up 9.0% from 1H 2023). Net income: S$267.0k (down 74% from 1H 2023). Profit margin: 0.6% (down from 2.6% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Sep 23
Tung Lok Restaurants (2000) Ltd Appoints Khoo Yee Hoe as Member of Executive Committee The Board of Directors of Tung Lok Restaurants (2000) Ltd. announced that Mr. Khoo Yee Hoe, an Independent Non-Executive Director of the Company, has been appointed as a member of the Executive Committee with effect from 22 September 2023. Following the above-mentioned change, the composition of the Executive Committee will be as follows: Executive Committee: Dr Goi Seng Hui (Chairman); Mdm Ng Siok Keow; Mr. Tjioe Ka Men and Mr. Khoo Yee Hoe. Announcement • Jul 29
Tung Lok Restaurants (2000) Ltd Approves Tax Exempt (One-Tier) First and Final Dividend for the Financial Year Ended 31 March 2023 Tung Lok Restaurants (2000) Ltd. announced that at its AGM held on 28 July 2023, approved the payment of a tax exempt (one-tier) first and final dividend of 0.77 Singapore cents per ordinary share for the financial year ended 31 March 2023. New Risk • Jul 13
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 6.1% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (S$34.6m market cap, or US$26.1m). Reported Earnings • Jul 13
Full year 2023 earnings released: EPS: S$0.015 (vs S$0.007 loss in FY 2022) Full year 2023 results: EPS: S$0.015 (up from S$0.007 loss in FY 2022). Revenue: S$86.2m (up 65% from FY 2022). Net income: S$4.20m (up S$6.04m from FY 2022). Profit margin: 4.9% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Jul 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 01
Full year 2023 earnings released: EPS: S$0.015 (vs S$0.007 loss in FY 2022) Full year 2023 results: EPS: S$0.015 (up from S$0.007 loss in FY 2022). Revenue: S$86.2m (up 65% from FY 2022). Net income: S$4.20m (up S$6.04m from FY 2022). Profit margin: 4.9% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 30
Tung Lok Restaurants (2000) Ltd Announces Cessation of Tan Eng Liang, Independent Non-Executive Director/Lead Independent Director, Chairman of the Audit and Risk Committee, and a Member of the Executive Committee, Remuneration Committee and Nominating Committee The Board of Directors of Tung Lok Restaurants (2000) Ltd. announced that Dr. Tan Eng Liang has passed away on 28 May 2023. Consequent to his demise, Dr. Tan Eng Liang will cease to be an Independent Non-Executive Director/Lead Independent Director, Chairman of the Audit and Risk Committee, and a member of the Executive Committee, Remuneration Committee and Nominating Committee. Board Change • Apr 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Feb 24
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jan 16
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 21
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 11
First half 2023 earnings released: EPS: S$0.004 (vs S$0.012 loss in 1H 2022) First half 2023 results: EPS: S$0.004 (up from S$0.012 loss in 1H 2022). Revenue: S$39.1m (up 92% from 1H 2022). Net income: S$1.02m (up S$4.45m from 1H 2022). Profit margin: 2.6% (up from net loss in 1H 2022). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Oct 19
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 15
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 13
Full year 2022 earnings released: S$0.007 loss per share (vs S$0.004 profit in FY 2021) Full year 2022 results: S$0.007 loss per share (down from S$0.004 profit in FY 2021). Revenue: S$52.2m (down 13% from FY 2021). Net loss: S$1.84m (down 283% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 17% per year. Announcement • Jul 12
Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 27, 2022 Tung Lok Restaurants (2000) Ltd, Annual General Meeting, Jul 27, 2022, at 10:30 Singapore Standard Time. Agenda: To consider to receive and adopt the directors' statement, audited financial statements and auditor's report for the financial year ended March 31, 2022; to consider approval of directors' fees for the financial year ending March 31, 2023; to consider re-election of Dr. Goi Seng Hui; to consider re-election of Mr. Chee Wai Pong; to consider re-election of Mdm Tjioe Ka In; to consider approval of Mr. Chee Wai Pong's continued appointment as an independent director by shareholders; to consider approval of Mr. Chee Wai Pong's continued appointment as an independent director by shareholders; to consider re-appointment of Ernst & Young LLP as auditor and to authorize the directors to fix their remuneration; to consider to authorise directors to issue shares pursuant to Section 161 of the Companies Act 1967; and to consider renewal of the shareholders' mandate for interested person transactions. Board Change • Jul 04
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Jun 10
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 31
Full year 2022 earnings released: S$0.007 loss per share (vs S$0.004 profit in FY 2021) Full year 2022 results: S$0.007 loss per share (down from S$0.004 profit in FY 2021). Revenue: S$52.2m (down 13% from FY 2021). Net loss: S$1.84m (down 283% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 12% per year. Board Change • May 24
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 22
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Feb 09
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 15
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. 1 experienced director. 6 highly experienced directors. Executive Director Ka In Tjioe was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 15
Full year 2021 earnings released: EPS S$0.004 (vs S$0.009 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$59.7m (down 24% from FY 2020). Net income: S$1.00m (up S$3.58m from FY 2020). Profit margin: 1.7% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 02
Full year 2021 earnings released: EPS S$0.004 (vs S$0.009 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$59.7m (down 24% from FY 2020). Net income: S$1.00m (up S$3.58m from FY 2020). Profit margin: 1.7% (up from net loss in FY 2020). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Executive Departure • May 25
Company Secretary has left the company On the 14th of May, Kim Seng Lo's tenure as Company Secretary ended after 2.3 years in the role. We don't have any record of a personal shareholding under Kim Seng's name. Kim Seng is the only executive to leave the company over the last 12 months.