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Sinostar PEC Holdings

SGX:C9Q
Snowflake Description

Good value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
C9Q
SGX
SGD141M
Market Cap
  1. Home
  2. SG
  3. Energy
Company description

Sinostar PEC Holdings Limited, an investment holding company, produces and supplies petrochemical products in the People’s Republic of China. The last earnings update was 17 days ago. More info.


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C9Q Share Price and Events
7 Day Returns
15.8%
SGX:C9Q
1.2%
SG Oil and Gas
0.2%
SG Market
1 Year Returns
18.9%
SGX:C9Q
-26.8%
SG Oil and Gas
-8.9%
SG Market
C9Q Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sinostar PEC Holdings (C9Q) 15.8% 22.2% 15.2% 18.9% 175% 189.5%
SG Oil and Gas 1.2% 1.7% 9.1% -26.8% 49.6% -9.4%
SG Market 0.2% -0.8% 3.5% -8.9% 7% -1.3%
1 Year Return vs Industry and Market
  • C9Q outperformed the Oil and Gas industry which returned -26.8% over the past year.
  • C9Q outperformed the Market in Singapore which returned -8.9% over the past year.
Price Volatility
C9Q
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for Sinostar PEC Holdings's competitors could be found in our database.

Value

 Is Sinostar PEC Holdings 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 Sinostar PEC Holdings 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    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sinostar PEC Holdings.

SGX:C9Q 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 13.2%
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:C9Q
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.94 (1 + (1- 25%) (183.38%))
1.827
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (1.827 * 5.96%)
13.19%

Discounted Cash Flow Calculation for SGX:C9Q using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sinostar PEC Holdings 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:C9Q DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 13.19%)
2019 548.36 Est @ 67.4% 484.46
2020 810.88 Est @ 47.87% 632.90
2021 1,088.22 Est @ 34.2% 750.39
2022 1,356.27 Est @ 24.63% 826.24
2023 1,599.50 Est @ 17.93% 860.86
2024 1,811.34 Est @ 13.24% 861.27
2025 1,991.79 Est @ 9.96% 836.70
2026 2,144.45 Est @ 7.66% 795.85
2027 2,274.31 Est @ 6.06% 745.69
2028 2,386.44 Est @ 4.93% 691.27
Present value of next 10 years cash flows CN¥7,485.64
SGX:C9Q DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥2,386.44 × (1 + 2.3%) ÷ (13.19% – 2.3%)
CN¥22,423.70
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥22,423.70 ÷ (1 + 13.19%)10
CN¥6,495.38
SGX:C9Q Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥7,485.64 + CN¥6,495.38
CN¥13,981.02
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥13,981.02 / 640.00
CN¥21.85
SGX:C9Q Discount to Share Price
Calculation Result
Exchange Rate CNY/SGD
(Reporting currency to currency of SGX:C9Q)
0.202
Value per Share
(SGD)
= Value per Share in CNY x Exchange Rate (CNY/SGD)
= CN¥21.85 x 0.202
SGD4.4
Value per share (SGD) From above. SGD4.40
Current discount Discount to share price of SGD0.22
= -1 x (SGD0.22 - SGD4.40) / SGD4.40
95%

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

Current Discount
Amount off the current price Sinostar PEC Holdings is available for.
Intrinsic value
>50%
Share price is SGD0.22 vs Future cash flow value of SGD4.4
Current Discount Checks
For Sinostar PEC Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sinostar PEC Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sinostar PEC Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Sinostar PEC Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sinostar PEC Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:C9Q PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.13
SGX:C9Q Share Price ** SGX (2019-03-18) in SGD SGD0.22
SGX:C9Q Share Price converted to CNY reporting currency Exchange rate (SGD/ CNY) 4.962 CN¥1.09
Singapore Oil and Gas Industry PE Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 9.42x
Singapore Market PE Ratio Median Figure of 330 Publicly-Listed Companies 12.8x

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

** Primary Listing of Sinostar PEC Holdings.

SGX:C9Q PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:C9Q Share Price ÷ EPS (both in CNY)

= 1.09 ÷ 0.13

8.45x

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

  • Sinostar PEC Holdings is good value based on earnings compared to the SG Oil and Gas industry average.
  • Sinostar PEC Holdings is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does Sinostar PEC Holdings's expected growth come at a high price?
Raw Data
SGX:C9Q PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.45x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
8.5%per year
Asia Oil and Gas Industry PEG Ratio Median Figure of 26 Publicly-Listed Oil and Gas Companies 1.3x
Singapore Market PEG Ratio Median Figure of 121 Publicly-Listed Companies 1.39x

*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 Sinostar PEC Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sinostar PEC Holdings's assets?
Raw Data
SGX:C9Q PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥1.15
SGX:C9Q Share Price * SGX (2019-03-18) in SGD SGD0.22
SGX:C9Q Share Price converted to CNY reporting currency Exchange rate (SGD/ CNY) 4.962 CN¥1.09
Singapore Oil and Gas Industry PB Ratio Median Figure of 9 Publicly-Listed Oil and Gas Companies 0.72x
Singapore Market PB Ratio Median Figure of 433 Publicly-Listed Companies 0.75x
SGX:C9Q PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:C9Q Share Price ÷ Book Value per Share (both in CNY)

= 1.09 ÷ 1.15

0.95x

* Primary Listing of Sinostar PEC Holdings.

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

  • Sinostar PEC Holdings is overvalued based on assets compared to the SG Oil and Gas industry average.
X
Value checks
We assess Sinostar PEC Holdings'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Sinostar PEC Holdings has a total score of 4/6, 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.

Future Performance

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

  • No analysts cover Sinostar PEC Holdings, 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
8.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sinostar PEC Holdings expected to grow at an attractive rate?
  • Sinostar PEC Holdings's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Sinostar PEC Holdings's earnings growth is expected to exceed the Singapore market average.
  • Unable to compare Sinostar PEC Holdings's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:C9Q Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:C9Q Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 8.5%
Singapore Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 8.6%
Asia Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.4%
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:C9Q Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:C9Q Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 2,259 371 83
2018-09-30 2,193 64 81
2018-06-30 2,019 75 76
2018-03-31 1,861 89 63
2017-12-31 1,805 117 68
2017-09-30 1,753 63 71
2017-06-30 1,712 73 86
2017-03-31 1,703 85 105
2016-12-31 1,560 71 90
2016-09-30 1,448 79 75
2016-06-30 1,460 112 62
2016-03-31 1,499 57 40

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sinostar PEC Holdings's earnings are expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Sinostar PEC Holdings 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:C9Q Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Sinostar PEC Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:C9Q Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.13
2018-09-30 0.13
2018-06-30 0.12
2018-03-31 0.10
2017-12-31 0.11
2017-09-30 0.11
2017-06-30 0.13
2017-03-31 0.16
2016-12-31 0.14
2016-09-30 0.12
2016-06-30 0.10
2016-03-31 0.06

*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 Sinostar PEC Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Sinostar PEC Holdings'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 Singapore 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.
Sinostar PEC Holdings 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.

Past Performance

  How has Sinostar PEC Holdings 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 Sinostar PEC Holdings's growth in the last year to its industry (Oil and Gas).
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.
  • Sinostar PEC Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Sinostar PEC Holdings's 1-year earnings growth is less than its 5-year average (21.2% vs 25.1%)
  • Sinostar PEC Holdings's earnings growth has exceeded the SG Oil and Gas industry average in the past year (21.2% vs -35.2%).
Earnings and Revenue History
Sinostar PEC Holdings'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 Sinostar PEC Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:C9Q Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,259.48 82.70 22.35
2018-09-30 2,193.41 81.19 20.51
2018-06-30 2,018.86 76.00 20.93
2018-03-31 1,860.98 63.05 21.07
2017-12-31 1,804.62 68.22 21.46
2017-09-30 1,752.51 71.02 19.58
2017-06-30 1,712.13 85.50 21.16
2017-03-31 1,702.63 104.79 21.71
2016-12-31 1,559.88 89.80 22.88
2016-09-30 1,447.54 74.97 24.03
2016-06-30 1,460.32 61.99 22.70
2016-03-31 1,498.53 39.70 21.44
2015-12-31 1,446.11 40.74 21.33
2015-09-30 1,440.41 49.56 12.14
2015-06-30 1,493.62 59.80 14.06
2015-03-31 1,241.21 40.46 14.69
2014-12-31 982.97 22.13 13.95
2014-09-30 -3,997.81 31.09 5.95
2014-06-30 -2,375.02 40.33 6.41
2014-03-31 -1,000.18 23.69 9.47
2013-12-31 264.80 -11.54 12.81
2013-09-30 6,407.09 -30.04 19.21
2013-06-30 5,641.53 -67.97 18.89
2013-03-31 5,473.66 -101.67 20.08
2012-12-31 5,480.53 -75.09 20.29
2012-09-30 5,694.66 -78.28 26.31
2012-06-30 5,614.70 -95.94 27.52
2012-03-31 5,384.03 -18.18 29.70

*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.
  • Sinostar PEC Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sinostar PEC Holdings used its assets less efficiently than the SG Oil and Gas industry average last year based on Return on Assets.
  • Sinostar PEC Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sinostar PEC Holdings'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 Oil and Gas 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.
Sinostar PEC Holdings has a total score of 3/6, 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.

Health

 How is Sinostar PEC Holdings'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 Sinostar PEC Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sinostar PEC Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Sinostar PEC Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sinostar PEC Holdings'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x 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 Sinostar PEC Holdings Company Filings, last reported 2 months ago.

SGX:C9Q Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 868.87 1,281.25 426.22
2018-09-30 719.17 0.00 382.28
2018-06-30 699.29 0.00 412.09
2018-03-31 689.96 0.00 446.69
2017-12-31 668.68 0.00 438.35
2017-09-30 653.34 0.00 531.45
2017-06-30 638.65 0.00 520.93
2017-03-31 642.62 0.00 533.35
2016-12-31 616.17 0.00 494.57
2016-09-30 598.15 0.00 494.89
2016-06-30 568.89 0.00 475.02
2016-03-31 553.19 0.00 476.07
2015-12-31 541.72 0.00 461.56
2015-09-30 538.42 0.00 423.14
2015-06-30 522.23 0.00 351.43
2015-03-31 513.48 0.00 389.90
2014-12-31 500.99 0.00 326.95
2014-09-30 488.86 0.00 307.20
2014-06-30 655.93 100.00 40.98
2014-03-31 652.90 50.00 70.43
2013-12-31 634.45 50.00 86.79
2013-09-30 623.14 100.00 69.65
2013-06-30 560.91 100.00 55.02
2013-03-31 612.64 100.00 52.70
2012-12-31 694.32 100.00 86.80
2012-09-30 705.22 331.55 87.44
2012-06-30 715.53 331.55 67.14
2012-03-31 828.30 331.55 63.12
  • Sinostar PEC Holdings's level of debt (147.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (7.9% vs 147.5% today).
  • Debt is well covered by operating cash flow (28.9%, greater than 20% of total debt).
  • Sinostar PEC Holdings earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Sinostar PEC Holdings'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. Sinostar PEC Holdings has a total score of 3/6, 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.

Dividends

 What is Sinostar PEC Holdings'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
2.26%
Current annual income from Sinostar PEC Holdings dividends.
If you bought SGD2,000 of Sinostar PEC Holdings shares you are expected to receive SGD45 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?
  • Sinostar PEC Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.6%).
  • Sinostar PEC Holdings's dividend is below the markets top 25% of dividend payers in Singapore (5.63%).
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:C9Q 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 Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 33 Stocks 4.1%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 279 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.6%
Singapore Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

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

SGX:C9Q Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-04 0.025 2.513
2018-04-10 0.024 2.640
2018-02-28 0.024 2.759
2017-04-12 0.024 2.514
2016-04-13 0.024 4.018
2012-11-21 0.000 0.000
2012-08-17 0.000 0.000
2012-05-15 0.000 0.000
2012-04-16 0.000 0.000
2012-03-01 0.000 0.000
2011-04-11 0.024 3.243
2011-02-28 0.026 3.128

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

  • Whilst dividend payments have been stable, Sinostar PEC Holdings has been paying a dividend for less than 10 years.
  • Sinostar PEC Holdings has only been paying a dividend for 8 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Sinostar PEC Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (5.1x 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 Sinostar PEC Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Sinostar PEC Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sinostar PEC Holdings 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.

Management

 What is the CEO of Sinostar PEC Holdings'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
Liu Zhang
AGE 46
CEO Bio

Mr. Liu Cheng Zhang serves as the Chief Executive Officer of Sinostar PEC Holdings Limited and previously served the same position from March 7, 2015 to February 2018. Mr. Zhang served as Deputy General Manager of Sinostar PEC Holdings Limited since February 2018. He serves as Deputy General Manager of Finance & Administration at Dongming Hengchang. He served as Deputy General Manager of Finance & Administration of Sinostar PEC Holdings Limited. Mr. Zhang was responsible for the overall Financial Management and administration functions of Sinostar PEC Holdings Limited. Mr. Zhang served as an Accountant of Dongming County Finance Department from 1996 to 2001, where he was responsible for the accounting functions of the department. In 2004, Mr. Zhang joined Dongming Hengchang as its Chief Financial Controller and oversaw the daily operations of the finance department and the overall financial management of Dongming Hengchang. He has been an Executive Director at Sinostar PEC Holdings Limited since July 6, 2006. From 2001 to 2004, he studied in the China Agricultural University and attained a Masters in Agricultural Economy Management in June 2004. Mr. Zhang obtained a Bachelor’s degree in 1996 from Shandong University in Accounting. He received an intermediate accountant qualification in May 2002 and a certified public valuer qualification in November 2003 from the Ministry of Finance of the PRC.

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

Liu Zhang

TITLE
CEO & Executive Director
AGE
46

William Tan

TITLE
Chief Financial Officer
AGE
50
TENURE
10.8 yrs

Zhong Liu

TITLE
Deputy General Manager of Sales and Procurement
AGE
49

Chee How Tan

TITLE
Secretary
TENURE
6.8 yrs
Board of Directors Tenure

Average tenure and age of the Sinostar PEC Holdings board of directors in years:

11.8
Average Tenure
53.5
Average Age
  • The average tenure for the Sinostar PEC Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Xiang Li

TITLE
Non-Executive Chairman
AGE
57

Liu Zhang

TITLE
CEO & Executive Director
AGE
46
TENURE
12.7 yrs

Moh Teo

TITLE
Independent Non-Executive Director
AGE
59
TENURE
11.8 yrs

Deng Fan

TITLE
Director
AGE
50
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SGD) Value (SGD)
14. Mar 19 Buy Intelligent People Holdings Limited Company 13. Mar 19 13. Mar 19 723,500 SGD0.22 SGD158,157
13. Mar 19 Buy Intelligent People Holdings Limited Company 12. Mar 19 12. Mar 19 1,021,100 SGD0.04 SGD36,847
11. Mar 19 Buy Intelligent People Holdings Limited Company 08. Mar 19 08. Mar 19 648,100 SGD0.21 SGD134,610
12. Oct 18 Buy Intelligent People Holdings Limited Company 11. Oct 18 11. Oct 18 101,100 SGD0.22 SGD21,737
10. Oct 18 Buy Intelligent People Holdings Limited Company 09. Oct 18 09. Oct 18 643,200 SGD0.22 SGD144,334
07. Oct 18 Buy Intelligent People Holdings Limited Company 05. Oct 18 05. Oct 18 191,900 SGD0.23 SGD44,137
05. Oct 18 Buy Intelligent People Holdings Limited Company 04. Oct 18 04. Oct 18 1,507,000 SGD0.23 SGD349,774
03. Oct 18 Buy Intelligent People Holdings Limited Company 02. Oct 18 02. Oct 18 914,100 SGD0.23 SGD212,985
02. Oct 18 Buy Intelligent People Holdings Limited Company 01. Oct 18 01. Oct 18 360,500 SGD0.23 SGD83,131
28. Sep 18 Buy Intelligent People Holdings Limited Company 27. Sep 18 27. Sep 18 923,500 SGD0.22 SGD205,017
27. Sep 18 Buy Intelligent People Holdings Limited Company 26. Sep 18 26. Sep 18 400,000 SGD0.22 SGD88,520
26. Sep 18 Buy Intelligent People Holdings Limited Company 25. Sep 18 25. Sep 18 1,450,400 SGD0.21 SGD310,240
25. Sep 18 Buy Intelligent People Holdings Limited Company 24. Sep 18 24. Sep 18 670,000 SGD0.21 SGD139,561
24. Sep 18 Buy Intelligent People Holdings Limited Company 21. Sep 18 21. Sep 18 549,100 SGD0.20 SGD109,326
20. Jun 18 Buy Intelligent People Holdings Limited Company 19. Jun 18 19. Jun 18 1,303,000 SGD0.21 SGD275,323
19. Jun 18 Buy Intelligent People Holdings Limited Company 18. Jun 18 18. Jun 18 1,466,000 SGD0.21 SGD306,833
15. Jun 18 Buy Intelligent People Holdings Limited Company 14. Jun 18 14. Jun 18 1,200,000 SGD0.19 SGD229,439
14. Jun 18 Buy Intelligent People Holdings Limited Company 13. Jun 18 13. Jun 18 766,300 SGD0.18 SGD137,551
X
Management checks
We assess Sinostar PEC Holdings'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. Sinostar PEC Holdings 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.

News

Simply Wall St News

What You Should Know About Sinostar PEC Holdings Limited's (SGX:C9Q) Financial Strength

While small-cap stocks, such as Sinostar PEC Holdings Limited (SGX:C9Q) with its market cap of S$134m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Understanding the company's financial health becomes. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

Announcing: Sinostar PEC Holdings Stock Increased An Energizing 157% In The Last Five Years

Sinostar PEC Holdings Limited (SGX:C9Q) shareholders might be concerned after seeing the share price drop 22% in the last quarter. … But that doesn't change the fact that the returns over the last five years have been very strong. … We can see that the Sinostar PEC Holdings share price is up 140% in the last three years.

Simply Wall St -

How Good Is Sinostar PEC Holdings Limited (SGX:C9Q), When It Comes To ROE?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Sinostar PEC Holdings has a return on equity of 11% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Sinostar PEC Holdings Limited (SGX:C9Q) A Smart Pick For Income Investors?

Historically, Sinostar PEC Holdings Limited (SGX:C9Q) has paid a dividend to shareholders. … Let's take a look at Sinostar PEC Holdings in more detail. … View our latest analysis for Sinostar PEC Holdings

Simply Wall St -

How Financially Strong Is Sinostar PEC Holdings Limited (SGX:C9Q)?

The direct benefit for Sinostar PEC Holdings Limited (SGX:C9Q), which sports a zero-debt capital structure, to include debt in its capital structure is the reduced cost of capital. … However, the trade-off is C9Q will have to adhere to stricter debt covenants and have less financial flexibility. … Is C9Q right in choosing financial flexibility over lower cost of capital.

Simply Wall St -

Sinostar PEC Holdings Limited (SGX:C9Q): Can It Deliver A Superior ROE To The Industry?

With an ROE of 10.87%, Sinostar PEC Holdings Limited (SGX:C9Q) returned in-line to its own industry which delivered 12.47% over the past year. … Metrics such as financial leverage can impact the level of ROE which in turn can affect the sustainability of C9Q's returns. … See our latest analysis for Sinostar PEC Holdings

Simply Wall St -

May Top Stocks To Invest In

Sinostar PEC Holdings Limited (SGX:C9Q) Sinostar PEC Holdings Limited, an investment holding company, produces and supplies petrochemical products in the People’s Republic of China. … Started in 2006, and now run by Deng Fan, the company now has 200 employees and with the company's market capitalisation at SGD SGD103.68M, we can put it in the small-cap category. … Sing Investments & Finance Limited (SGX:S35) Sing Investments & Finance Limited operates as a finance company serving individuals and corporations in Singapore.

Simply Wall St -

What Are The Drivers Of Sinostar PEC Holdings Limited's (SGX:C9Q) Risks?

A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one. … C9Q’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio. … I test C9Q’s ratio of fixed assets to total assets in order to determine how high the risk is associated with this type of constraint.

Simply Wall St -

Does Sinostar PEC Holdings Limited's (SGX:C9Q) Past Performance Indicate A Weaker Future?

After reading Sinostar PEC Holdings Limited's (SGX:C9Q) latest earnings update (30 September 2017), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … Check out our latest analysis for Sinostar PEC Holdings Was C9Q's recent earnings decline indicative of a tough track record? … For Sinostar PEC Holdings, its most recent trailing-twelve-month earnings is CN¥71.02M, which, in comparison to the prior year's level, has plunged by -5.27%.

Simply Wall St -

February Opportunities – Sinostar PEC Holdings And More

Sinostar PEC Holdings Limited (SGX:C9Q) Sinostar PEC Holdings Limited, an investment holding company, produces and supplies petrochemical products in the People’s Republic of China. … It currently has a market cap of SGD SGD119.68M placing it in the small-cap stocks category Wheelock Properties (Singapore) Limited (SGX:M35) Wheelock Properties (Singapore) Limited, an investment holding company, develops, owns, and manages various properties in Singapore and internationally. … SGX:M35 Historical Debt Feb 21st 18 Stamford Land Corporation Ltd (SGX:H07) Stamford Land Corporation Ltd, an investment holding company, owns, operates, and manages luxury hotels in Singapore, Australia, and New Zealand.

Simply Wall St -

Company Info

Description

Sinostar PEC Holdings Limited, an investment holding company, produces and supplies petrochemical products in the People’s Republic of China. It operates through two segments, Gas Separation, and Transport and Logistic Services. The company offers liquefied petroleum gas (LPG), which is used as a source of fuel by households and industrial manufacturers; propylene, an organic compound to produce chemical intermediates, such as polypropylene and vinyl; and polypropylene, a thermoplastic polymer under the Hengchang brand that is used to produce plastic products for various industrial applications. It also provides logistics and transportation services for petroleum products. Sinostar PEC Holdings Limited sells its products to manufacturers of petrochemical and plastic products, as well as LPG distributors. The company was incorporated in 2006 and is based in Dongming, the People’s Republic of China. Sinostar PEC Holdings Limited is a subsidiary of Intelligent People Holdings Limited.

Details
Name: Sinostar PEC Holdings Limited
C9Q
Exchange: SGX
Founded: 2006
SGD140,800,000
640,000,000
Website: http://www.sinostar-pec.com
Address: Sinostar PEC Holdings Limited
27 Huanghe Road,
Dongming,
Shandong Province, 274500,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX C9Q Ordinary Shares Singapore Exchange SG SGD 26. Sep 2007
DB 41S Ordinary Shares Deutsche Boerse AG DE EUR 26. Sep 2007
Number of employees
Current staff
Staff numbers
200
Sinostar PEC Holdings employees.
Industry
Oil and Gas Refining and Marketing
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 12:42
End of day share price update: 2019/03/18 00:00
Last earnings filing: 2019/03/01
Last earnings reported: 2018/12/31
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.