Board Change • Jul 08
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Apr 29
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 13
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Feb 17
First half 2026 earnings released: S$0.008 loss per share (vs S$0.008 loss in 1H 2025) First half 2026 results: S$0.008 loss per share (in line with 1H 2025). Revenue: S$6.49m (down 5.3% from 1H 2025). Net loss: S$1.18m (loss widened 2.8% from 1H 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Board Change • Jan 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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Oct 15
Full year 2025 earnings released: S$0.029 loss per share (vs S$0.024 loss in FY 2024) Full year 2025 results: S$0.029 loss per share (further deteriorated from S$0.024 loss in FY 2024). Revenue: S$12.3m (down 15% from FY 2024). Net loss: S$4.03m (loss widened 22% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Board Change • Oct 15
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Oct 11
Full year 2025 earnings released: S$0.029 loss per share (vs S$0.024 loss in FY 2024) Full year 2025 results: S$0.029 loss per share (further deteriorated from S$0.024 loss in FY 2024). Revenue: S$12.3m (down 15% from FY 2024). Net loss: S$4.03m (loss widened 22% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Announcement • Oct 11
Sakae Holdings Ltd., Annual General Meeting, Oct 27, 2025 Sakae Holdings Ltd., Annual General Meeting, Oct 27, 2025, at 15:00 Singapore Standard Time. Location: 28 tai seng street, sakae building, level 7, singapore 534106, Singapore New Risk • Sep 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$11.8m (US$9.16m) This is considered a major 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: Major Risks Shares are highly illiquid. Market cap is less than US$10m (S$11.8m market cap, or US$9.16m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). New Risk • Sep 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 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 December 2024 fiscal period end). Market cap is less than US$100m (S$13.8m market cap, or US$10.7m). Board Change • Aug 25
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Jul 10
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Apr 15
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Feb 18
First half 2025 earnings released: S$0.008 loss per share (vs S$0.006 loss in 1H 2024) First half 2025 results: S$0.008 loss per share (further deteriorated from S$0.006 loss in 1H 2024). Revenue: S$6.85m (down 7.8% from 1H 2024). Net loss: S$1.14m (loss widened 33% from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Board Change • Feb 17
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 21
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 23
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. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Non-Executive Independent Director David Pang 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 • Oct 29
Full year 2024 earnings released: S$0.024 loss per share (vs S$0.009 profit in FY 2023) Full year 2024 results: S$0.024 loss per share (down from S$0.009 profit in FY 2023). Revenue: S$14.4m (down 16% from FY 2023). Net loss: S$3.30m (down 356% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. New Risk • Oct 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$12.9m (US$9.89m) This is considered a major 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: Major Risks Shares are highly illiquid. Market cap is less than US$10m (S$12.9m market cap, or US$9.89m). Announcement • Oct 11
Sakae Holdings Ltd., Annual General Meeting, Oct 28, 2024 Sakae Holdings Ltd., Annual General Meeting, Oct 28, 2024, at 15:00 Singapore Standard Time. Location: 28 tai seng street, sakae building, level 7, singapore 534106, Singapore Reported Earnings • Aug 31
Full year 2024 earnings released: S$0.024 loss per share (vs S$0.009 profit in FY 2023) Full year 2024 results: S$0.024 loss per share (down from S$0.009 profit in FY 2023). Revenue: S$14.4m (down 16% from FY 2023). Net loss: S$3.30m (down 356% from profit in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. New Risk • Aug 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$11.1m (US$8.51m) This is considered a major 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: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 193% Cash payout ratio: 97% Market cap is less than US$10m (S$11.1m market cap, or US$8.51m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.8% net profit margin). Announcement • Oct 31
Sakae Holdings Ltd. Approves Final Tax Exempt (One-Tier) Dividend for the Financial Year Ended 30 June 2023 Sakae Holdings Ltd. announced at annual general meeting held on October 30, 2023, the shareholders approved final tax exempt (one-tier) dividend of 0.5 cents per ordinary share for the financial year ended 30 June 2023. Announcement • Oct 14
Sakae Holdings Ltd., Annual General Meeting, Oct 30, 2023 Sakae Holdings Ltd., Annual General Meeting, Oct 30, 2023, at 15:00 Singapore Standard Time. Location: at 28 Tai Seng Street, Sakae Building, Level 7 Singapore Singapore Agenda: To receive and adopt the Directors' Statement and Audited Financial Statements of the Company for the financial year ended 30 June 2023 together with the Auditor's Report thereon; to consider and approve the payment of Directors' fees of SGD 85,000 (FY2022: SGD 85,000) for the financial year ended 30 June 2023; to consider and re-appoint Messrs Baker Tilly TFW LLP as the Company's Auditor and to authorise the Directors to fix their remuneration; to consider and transact any other ordinary business which may properly be transacted at an Annual General Meeting; and to consider other matter also. New Risk • Sep 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 153% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (S$18.0m market cap, or US$13.3m). Reported Earnings • Aug 30
Full year 2023 earnings released: EPS: S$0.009 (vs S$0.008 in FY 2022) Full year 2023 results: EPS: S$0.009 (up from S$0.008 in FY 2022). Revenue: S$17.1m (flat on FY 2022). Net income: S$1.29m (up 22% from FY 2022). Profit margin: 7.6% (up from 6.2% in FY 2022). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 18
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: Major Risk Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Dividend is not well covered by cash flows (dividend per share is over 9x cash flows per share). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (5.8% net profit margin). Market cap is less than US$100m (S$18.1m market cap, or US$13.4m). Announcement • Jul 27
Sakae Holdings Ltd. Appoints Ali Ijaz Ahmad as Independent Non-Executive Director Sakae Holdings Ltd. appointed Mr. Ali Ijaz Ahmad as Independent Non-Executive Director of the Company with effect from 25 July 2023. Job Title: Independent Non-Executive Director and designated as Non-Independent Non-Executive Director upon completion of the Proposed Sale. Working Experience: March 2006 to present: Chief Executive Officer of Makara Capital Partners Pte. Ltd. Other Director Ships Present: Makara Investment Advisors Pte Ltd, Makara Capital Partners Pte Ltd, Asia Development Fund Pte Ltd, Singapore Turkey Investment Company Pte Ltd, Makara Capital Limited, The Colonial Singapore Pte Ltd, Austrian Anadi Bank AG, Makara Strategic Acquisition Corp. Professional Qualifications: Master in Public Administration from Harvard University (Kennedy School of Government), a Bachelor of Arts in Government and Physics from Bowdoin College and a Bachelor of Science in Electrical Engineering from Columbia University. Reported Earnings • Feb 15
First half 2023 earnings released: EPS: S$0 (vs S$0 in 1H 2022) First half 2023 results: EPS: S$0 (in line with 1H 2022). Revenue: S$9.21m (up 9.4% from 1H 2022). Net income: S$9.0k (down 74% from 1H 2022). Profit margin: 0.1% (down from 0.4% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
Sakae Holdings Ltd. Approves Final Tax Exempt (One-Tier) Dividend for the Financial Year Ended 30 June 2022 Sakae Holdings Ltd. at the Annual General Meeting held on 31 October 2022, approved final tax exempt (one-tier) dividend of 0.5 cents per ordinary share for the financial year ended 30 June 2022. Reported Earnings • Oct 18
Full year 2022 earnings released: EPS: S$0.008 (vs S$0.017 in FY 2021) Full year 2022 results: EPS: S$0.008 (down from S$0.017 in FY 2021). Revenue: S$17.2m (down 19% from FY 2021). Net income: S$1.06m (down 54% from FY 2021). Profit margin: 6.2% (down from 11% in FY 2021). Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 31
Full year 2022 earnings released: EPS: S$0.008 (vs S$0.017 in FY 2021) Full year 2022 results: EPS: S$0.008 (down from S$0.017 in FY 2021). Revenue: S$17.2m (down 19% from FY 2021). Net income: S$1.06m (down 54% from FY 2021). Profit margin: 6.2% (down from 11% in FY 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 17
Third quarter 2022 earnings released: S$0.23 loss per share (vs S$0.002 profit in 3Q 2021) Third quarter 2022 results: S$0.23 loss per share (down from S$0.002 profit in 3Q 2021). Revenue: S$4.64m (down 19% from 3Q 2021). Net loss: S$317.0k (down 245% from profit in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 106% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 3.5%. The fair value is estimated to be S$0.14, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 36% per annum over the last 3 years. Earnings per share has grown by 72% per annum over the last 3 years. Reported Earnings • Feb 16
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: S$0.001 (down from S$0.004 in 2Q 2021). Revenue: S$4.64m (down 16% from 2Q 2021). Net income: S$169.0k (down 69% from 2Q 2021). Profit margin: 3.6% (down from 9.9% in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 16
First quarter 2022 earnings released: S$0.001 loss per share (vs S$0.001 profit in 1Q 2021) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2022 results: Revenue: S$3.78m (down 33% from 1Q 2021). Net loss: S$134.0k (down 294% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 01
Upcoming dividend of S$0.012 per share Eligible shareholders must have bought the stock before 08 November 2021. Payment date: 18 November 2021. Trailing yield: 9.2%. Within top quartile of Singaporean dividend payers (5.2%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 29
Full year 2021 earnings released: EPS S$0.017 (vs S$0.004 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$21.1m (down 33% from FY 2020). Net income: S$2.32m (up S$2.92m from FY 2020). Profit margin: 11% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 20
Full year earnings released - S$0.0043 loss per share Over the last 12 months the company has reported total losses of S$600.0k, with losses narrowing by 95% from the prior year. Total revenue was S$31.4m over the last 12 months, down 30% from the prior year.