Upcoming Dividend • Apr 30
Upcoming dividend of S$0.04 per share Eligible shareholders must have bought the stock before 07 May 2026. Payment date: 22 May 2026. Payout ratio is a comfortable 72% and the cash payout ratio is 81%. Trailing yield: 4.8%. Lower than top quartile of Singaporean dividend payers (5.0%). Higher than average of industry peers (3.7%). Announcement • Apr 24
QAF Limited Approves Final Tax-Exempt (One-Tier) Dividend for the Fiscal Year 2025 QAF Limited at its Annual General Meeting held on 24 April 2026, approved to declare a final tax-exempt (one-tier) dividend of SGD 0.04 per ordinary share in respect of the financial year 2025. Declared Dividend • Apr 03
Final dividend of S$0.04 announced Dividend of S$0.04 is the same as last year. Ex-date: 7th May 2026 Payment date: 22nd May 2026 Dividend yield will be 5.0%, which is lower than the industry average of 5.5%. Sustainability & Growth Dividend is covered by both earnings (72% earnings payout ratio) and cash flows (81% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to decline by 20% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.1% EPS decline seen over the last 5 years. Announcement • Mar 28
QAF Limited Proposes Final Tax-Exempt (One-Tier) Dividend for the Financial Year Ended 31 December 2025 QAF Limited at its Annual General Meeting will be held on 24 April 2026, proposed to declare a final tax-exempt (one-tier) dividend of SGD 0.04 per ordinary share in respect of the financial year ended 31 December 2025. Announcement • Mar 27
QAF Limited, Annual General Meeting, Apr 24, 2026 QAF Limited, Annual General Meeting, Apr 24, 2026, at 11:00 Singapore Standard Time. Location: william pickering ballroom, level 2, parkroyal collection pickering, 3 upper pickering street, singapore 058289, Singapore Recent Insider Transactions • Mar 12
Joint Group MD & Executive Director recently bought S$67k worth of stock On the 9th of March, Kejian Lin bought around 70k shares on-market at roughly S$0.96 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth S$620k. Kejian has been a buyer over the last 12 months, purchasing a net total of S$2.0m worth in shares. New Risk • Feb 26
New major risk - Revenue and earnings growth Earnings have declined by 4.5% 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 Risk Earnings have declined by 4.5% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (110% payout ratio). Reported Earnings • Feb 26
Full year 2025 earnings released Full year 2025 results: Revenue: S$633.6m (flat on FY 2024). Net income: S$39.8m (up 15% from FY 2024). Profit margin: 6.3% (up from 5.5% in FY 2024). New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Earnings have declined by 4.5% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (110% payout ratio). Recent Insider Transactions • Jan 10
Joint Group MD & Executive Director recently bought S$620k worth of stock On the 7th of January, Kejian Lin bought around 677k shares on-market at roughly S$0.91 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Kejian has been a buyer over the last 12 months, purchasing a net total of S$1.2m worth in shares. Upcoming Dividend • Sep 03
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 08 September 2025. Payment date: 26 September 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.6%. Within top quartile of Singaporean dividend payers (5.4%). Higher than average of industry peers (4.7%). Declared Dividend • Aug 20
First half dividend of S$0.01 announced Dividend of S$0.01 is the same as last year. Ex-date: 8th September 2025 Payment date: 26th September 2025 Dividend yield will be 5.6%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (110% earnings payout ratio). However, it is covered by cash flows (61% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 22% to bring the payout ratio under control. However, EPS has declined by 7.1% over the last 5 years so the company would need to reverse this trend. Reported Earnings • Aug 12
First half 2025 earnings released: EPS: S$0.007 (vs S$0.022 in 1H 2024) First half 2025 results: EPS: S$0.007 (down from S$0.022 in 1H 2024). Revenue: S$306.1m (down 1.0% from 1H 2024). Net income: S$3.92m (down 69% from 1H 2024). Profit margin: 1.3% (down from 4.0% in 1H 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Aug 01
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Basil Chan was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-executive Independent Director Junie Foo was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jun 29
Joint Group MD & Executive Director recently bought S$151k worth of stock On the 25th of June, Kejian Lin bought around 176k shares on-market at roughly S$0.86 per share. This transaction amounted to 3.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Kejian's only on-market trade for the last 12 months. Announcement • Apr 25
QAF Limited Approves Final Tax-Exempt (One-Tier) Dividend for the Fiscal Year 2024 QAF Limited announced that at its AGM held on 25 April 2025, the shareholders approved final tax-exempt (one-tier) dividend of SGD 0.04 per ordinary share in respect of fiscal year 2024. Reported Earnings • Mar 28
Full year 2024 earnings released: EPS: S$0.06 (vs S$0.048 in FY 2023) Full year 2024 results: EPS: S$0.06 (up from S$0.048 in FY 2023). Revenue: S$636.1m (up 1.2% from FY 2023). Net income: S$34.7m (up 26% from FY 2023). Profit margin: 5.5% (up from 4.4% in FY 2023). Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 27
QAF Limited, Annual General Meeting, Apr 25, 2025 QAF Limited, Annual General Meeting, Apr 25, 2025, at 11:00 Singapore Standard Time. Location: william pickering ballroom, level 2, parkroyal collection pickering, 3 upper pickering street, singapore 058289, Singapore Buy Or Sell Opportunity • Mar 03
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.4% to S$0.85. The fair value is estimated to be S$0.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 4.2%. New Risk • Feb 24
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Feb 12
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 3.6% to S$0.86. The fair value is estimated to be S$0.71, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has grown by 4.2%. Announcement • Jan 17
QAF Limited Appoints Soh Chai Lih as Joint Group Legal Counsel, Effective from 1 February 2025 QAF Limited announced that upon the recommendation of the Nominating Committee, the Board of Directors has approved the appointment of Ms Soh Chai Lih as Joint Group Legal Counsel, taking into account her qualifications and working experience. QAF's legal department will, with effect from 1 February 2025, be headed jointly by Ms Serene Yeo and Ms Soh Chai Lih as Joint Group Legal Counsels during a transitionary period. Following the transitionary period, Ms Soh will head the legal department. Ms Yeo, the current head of the legal department, has informed the Company that she wishes to retire from her position. Role And Responsibilities: Legal and corporate secretarial functions of the Group.; Job Title: Joint Group Legal Counsel; Working Experience: Group General Counsel, Pathology Asia Holdings Pte Ltd. (2022 - Jan 2025) Deputy General Counsel & Chief of Staff (Board of Directors), Fullerton Health Corporation Limited (2019 - 2022) Assistant General Counsel, Vice President, GIC Private Limited (2015 - 2018) Rajah & Tann Singapore LLP (2005 - 2015), Partner from 2011 and Professional Qualifications: LLB (Hons) degree, National University of Singapore. Reported Earnings • Aug 14
First half 2024 earnings released: EPS: S$0.022 (vs S$0.009 in 1H 2023) First half 2024 results: EPS: S$0.022 (up from S$0.009 in 1H 2023). Revenue: S$309.2m (up 2.5% from 1H 2023). Net income: S$12.5m (up 155% from 1H 2023). Profit margin: 4.0% (up from 1.6% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 10
QAF Limited Has Approves the Appointment of Mr. Hu as Deputy Director, Business Development & E-Commerce, Effective from August 1, 2024 QAF Limited has approved the appointment of Mr. Hu as Deputy Director, Business Development & E-commerce, taking into account his experience in e-commerce and digital marketing in Asia Pacific and Middle East and Africa markets, and his professional qualifications. Role And Responsibilities Non-Board Member. Executive Officer. Heading the Company's business-to-business (B2B) business through exploring opportunities in the e-commerce and digital marketing industry. Working Experience Head of E-commerce Marketplace, APAC MEA, Electrolux S.E.A. Private Limited (2022 - Present) VP, Regional Marketing Solutions and Partner Development, Lazada South East Asia Pte Ltd. (2018 - 2022) Business Director, Asia, Coty Inc. (2017 - 2018) Account Director, APAC, AudienceScience Singapore Private Ltd. (2016 - 2017) Strategic Account Manager, Southeast Asia & China, PubMatic Pte Ltd. (2014 - 2016) Customer Success Director, APAC, Marin Software Pte Ltd. (2012 - 2014). Other DirectorShips Present Zuliz (Singapore) Pte Ltd. Robomind Pte Ltd. Virtunova Pte Ltd. Director Experience Details N.A. This is not an appointment of a Director on the Board of QAF Limited. Professional Qualifications Bachelor of Arts in Marketing from Hertfordshire University, United Kingdom. Appointment Date 1 August, 2024. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Wee Lee Loh was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 29
Qaf Limited Appoints Mr. Loh Wee Lee as Non-Executive, Independent Director, Effective from June 1, 2024 QAF Limited announced that upon the recommendation of the Nominating Committee, the Board of Directors has approved the appointment of Mr. Loh Wee Lee as Non-executive, Independent Director, taking into account, amongst others, his experience in relation to digital technologies and e-commerce businesses, and his professional qualifications. Working Experience is Group Chief Digital Officer, DFI Retail Group Holdings Limited (2023 - Present) CEO, Lazada Singapore Pte Ltd. (2021 - 2023) Chief of Staff and Head of Group CEO Office, Lazada Group SA and PT Ecart Webportal Indonesia (2020 - 2021) Head of Innovation, Executive Vice President, Lazada Group SA (2018 - 2020) General Manager, Aethon Inc. (United States entity), an operating unit of ST Engineering Land Systems Ltd. (2017 - 2018) Deputy Head, Singapore Commercial Business, ST Engineering Land Systems Ltd. (2016 - 2017) Senior Manager, Private Bank, Standard Chartered Private Bank (2015 - 2016) Group Head of Strategy Department, Sembcorp Industries Ltd. (2013 - 2015). Professional Qualifications is Bachelor of Arts, Cornell University, USA Master of Arts, Harvard University, USA. Appointment Date is June 1, 2024. Announcement • Apr 27
QAF Limited Approves Final Tax-Exempt (One-Tier) Dividend for the Fiscal Year 2023 QAF Limited at its AGM held on April 26, 2024 approved final tax-exempt (one-tier) dividend of SGD 0.04 per ordinary share in respect of fiscal year 2023. Upcoming Dividend • Apr 25
Upcoming dividend of S$0.04 per share Eligible shareholders must have bought the stock before 02 May 2024. Payment date: 23 May 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.8%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (4.6%). Declared Dividend • Mar 31
Final dividend of S$0.04 announced Dividend of S$0.04 is the same as last year. Ex-date: 2nd May 2024 Payment date: 23rd May 2024 Dividend yield will be 5.9%, which is higher than the industry average of 5.5%. Sustainability & Growth Dividend is not covered by earnings (105% earnings payout ratio) nor is it covered by cash flows (161% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. The company's earnings per share (EPS) would need to grow by 16% to bring the payout ratio under control, which is less than the 27% EPS growth achieved over the last 5 years. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: S$0.048 (vs S$0.045 in FY 2022) Full year 2023 results: EPS: S$0.048 (up from S$0.045 in FY 2022). Revenue: S$628.6m (up 8.8% from FY 2022). Net income: S$27.5m (up 6.7% from FY 2022). Profit margin: 4.4% (down from 4.5% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 24
Full year 2023 earnings released Full year 2023 results: Revenue: S$628.6m (up 8.8% from FY 2022). Net income: S$27.5m (up 6.7% from FY 2022). Profit margin: 4.4% (down from 4.5% in FY 2022). Announcement • Feb 20
QAF Limited Announces Retirement of Ong Wui Leng as Deputy Group Managing Director QAF Limited announced the retirement of Ong Wui Leng as Deputy Group Managing Director. Other directorships past: Hwa Hong Corporation Limited, Rivalea Holdings Pty Limited, Rivalea (Australia) Pty Ltd, Diamond Valley Pork Pty Ltd, Oxdale Dairy Enterprise Pty Ltd, Gaoyuan Pte. Ltd., SiS International Holdings Limited, Directorships in various companies in the QAF Group, including its joint venture. Other directorships present: Director, BlackInk Corporate Partners Pte. Ltd. Reason for cessation: Retirement from the Board and as Deputy Group Managing Director. Recent Insider Transactions • Oct 06
Joint Group MD & Executive Director recently bought S$337k worth of stock On the 3rd of October, Lin Kejian bought around 406k shares on-market at roughly S$0.83 per share. This transaction amounted to 9.2% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth S$582k. Lin has been a buyer over the last 12 months, purchasing a net total of S$3.9m worth in shares. Recent Insider Transactions • Sep 15
Joint Group MD & Executive Director recently bought S$277k worth of stock On the 12th of September, Lin Kejian bought around 344k shares on-market at roughly S$0.80 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth S$553k. Lin has been a buyer over the last 12 months, purchasing a net total of S$2.7m worth in shares. Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive & Independent Director Syee Aw was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 31
Upcoming dividend of S$0.01 per share at 6.2% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 25 September 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 6.2%. Within top quartile of Singaporean dividend payers (6.2%). Higher than average of industry peers (5.3%). Announcement • Aug 18
QAF Limited Announces Interim Tax-Exempt (One-Tier) Dividend for the Financial Year Ending 31 December 2023, Payable on 25 September 2023 QAF Limited announced that the time and date at and on which the Transfer Books and Register of Members will be closed for the purpose of determining shareholders' entitlements to an interim tax-exempt (one-tier) dividend of SGD 0.01 per share for the financial year ending 31 December 2023 ("FY2023 Interim Dividend") and, in the case of shareholders who are Depositors (as defined in the Securities and Futures Act 2001), at and on which entitlementsto the FY2023 Interim Dividend will be determined, is 5.00 p.m. on 8 September 2023 ("Record Date"). Shareholders who are Depositors and whose securities accounts with The Central Depository (Pte) Limited are credited with QAF shares as at the Record Date will be entitled to the FY2023 Interim Dividend on the basis of the QAF shares standing to the credit of their securities accounts as at the Record Date. In respect of shareholders who are not Depositors, duly completed and stamped registrable transfers received by the Company's Registrar, Tricor Barbinder Share Registration Services, at 80 Robinson Road, #11-02, Singapore 068898 up to the Record Date will be registered to determine such shareholders' entitlements to the FY2023 Interim Dividend. The FY2023 Interim Dividend payment date will be 25 September 2023. Recent Insider Transactions • Aug 17
Joint Group MD & Executive Director recently bought S$355k worth of stock On the 15th of August, Lin Kejian bought around 450k shares on-market at roughly S$0.79 per share. This transaction increased Lin's direct individual holding by 9x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Lin's only on-market trade for the last 12 months. Reported Earnings • Aug 11
First half 2023 earnings released: EPS: S$0.009 (vs S$0.025 in 1H 2022) First half 2023 results: EPS: S$0.009 (down from S$0.025 in 1H 2022). Revenue: S$301.6m (up 12% from 1H 2022). Net income: S$4.91m (down 66% from 1H 2022). Profit margin: 1.6% (down from 5.4% in 1H 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Aug 10
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.6% Last year net profit margin: 5.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Cash payout ratio: 201% Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.6% net profit margin). Announcement • Aug 09
QAF Limited Appoints Aw Syee Chia as Independent Director, Effective from 9 August 2023 QAF Limited announced the appointment of Aw Syee Chia as Independent Director, with effect from 9 August 2023. Role And Responsibilities: Non-executive; Job Title: Non-executive, Independent Director; Working Experience: Chief Executive Officer, Accel Works Worldwide Pte Ltd. (2023 - Present) Advisor and Operations director, Wiz Technologies (S) Pte Ltd. (2021 - 2023) Deputy Chief Executive Officer, MSC Consulting (S) Pte Ltd. (2020 - 2021) Senior Vice-President for Application and Professional Service - Head of Technology, Infosys Compaz Pte Ltd. (2016 - 2020) Group Head and Head of Regional IT and Boardroom Business Solution, Boardroom Limited (2012 - 2015). Director Experience Details: The Company will arrange for Mr. Aw to undergo the relevant training courses offered by the Singapore Institute of Directors. Professional Qualifications: Bachelor of Commerce (Honours Business Administration), University of Windsor, Canada Post-Graduate Diploma in Systems Analysis, Singapore Polytechnic, Japan-Singapore Institute of Software Technology, Singapore Master of Business Administration, University of Technology, Sydney, Australia. Announcement • Jul 23
QAF Limited Provides Earnings Guidance for the Half Year Ended 30 June 2023 QAF Limited provided earnings guidance for the half year ended 30 June 2023. For the period the Group is expected to report a drop in the group's profit after tax for the first half of 2023 compared to first half of 2022. The company still expects the operating performance for first half of 2023 to be satisfactory. Upcoming Dividend • Apr 27
Upcoming dividend of S$0.04 per share at 5.8% yield Eligible shareholders must have bought the stock before 04 May 2023. Payment date: 24 May 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.8%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (4.9%). Reported Earnings • Apr 01
Full year 2022 earnings released: EPS: S$0.045 (vs S$0.039 in FY 2021) Full year 2022 results: EPS: S$0.045 (up from S$0.039 in FY 2021). Revenue: S$577.5m (up 3.3% from FY 2021). Net income: S$25.7m (up 16% from FY 2021). Profit margin: 4.5% (up from 4.0% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Feb 25
Full year 2022 earnings released Full year 2022 results: Revenue: S$577.5m (up 3.3% from FY 2021). Net income: S$25.7m (up 16% from FY 2021). Profit margin: 4.5% (up from 4.0% in FY 2021). Upcoming Dividend • Sep 01
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 26 September 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.8%. Lower than top quartile of Singaporean dividend payers (6.1%). Higher than average of industry peers (4.4%). Announcement • Aug 18
QAF Limited Announces Interim Tax-Exempt (One-Tier) Dividend for the Financial Year Ending 31 December 2022, Payable on 26 September 2022 QAF Limited announced that the Transfer Books and Register of Members of the company will be closed for the purpose of determining shareholders' entitlements to an interim tax-exempt (one-tier) dividend of SGD 0.01 per share for the financial year ending 31 December 2022 and, in the case of shareholders who are Depositors (as defined in the Securities and Futures Act 2001), at and on which entitlements to the fiscal year 2022 Interim Dividend will be determined on 9 September 2022 ("Record Date"). The fiscal year 2022 Interim Dividend payment date will be 26 September 2022. Reported Earnings • Aug 06
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down S$8.01m from profit in 1H 2021). Profit margin: (down from 3.0% in 1H 2021). Announcement • Jul 21
QAF Limited Provides Earnings Guidance for the First Half Year Ended 30 June 2022 QAF Limited provided earnings guidance for the first half year ended 30 June 2022. For the period, The Company expects, subject to, amongst others, the approval of its Audit & Risk Committee and Board of Directors, to report a significant improvement in the Group's profit before tax and profit after tax and after exceptional items for 1H2022 compared to 1H2021. The significant improvement is attributable to an exceptional item relating to the receipt of approximately SGD 9.6 million (equivalent to MYR 30 million), being the first interim insurance payment under the Group's insurance policy covering damage to its property, plant and equipment in connection with the severe flooding at one of the Group's Malaysian factories. Upcoming Dividend • Apr 28
Upcoming dividend of S$0.04 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 25 May 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.7%. Lower than top quartile of Singaporean dividend payers (5.8%). Higher than average of industry peers (3.8%). Announcement • Mar 01
QAF Limited Announces Cession of Derek Cheong Kheng Beng as Executive Vice-President, Corporate Development QAF Limited announced Cession of Derek Cheong Kheng Beng as Executive Vice-President, Corporate Development. Reason for Cessation is Resignation following his desire to step down from full time employment. Mr. Cheong will be appointed as a consultant to the Company with effect from 1 March 2022. Announcement • Jan 12
QAF Limited Approves Special Tax-Exempt (One-Tier) Dividend, Payable on February 15, 2022 QAF Limited announced that the time and date at and on which the Transfer Books and Register of Members of the company will be closed for the purpose of determining shareholders' entitlements to a special tax-exempt (one-tier) dividend of SGD 0.02 per share approved by shareholders on December 21, 2021 and, in the case of shareholders who are Depositors, at and on which entitlements to the Special Dividend will be determined, is 5.00 p.m. on January 25, 2022. The Special Dividend payment date is scheduled for February 15, 2022. Announcement • Dec 08
QAF Limited Proposes One-Tier Tax-Exempt Special Cash Dividend QAF Limited announced at the EGM to be held on December 21, 2021 that the company proposed to distribute a one-tier tax-exempt special cash dividend of SGD 0.02 for each Share held by the Shareholders as at the record date for the Special Dividend. Upcoming Dividend • Sep 02
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 09 September 2021. Payment date: 27 September 2021. Trailing yield: 5.5%. Within top quartile of Singaporean dividend payers (5.2%). Higher than average of industry peers (3.3%). Director Overboarding • Aug 10
Director Teck Kwong Chee has joined 5th company board Independent Non-Executive Director Teck Kwong Chee has been appointed to the board of Sheng Siong Group Ltd (SGX:OV8). Chee now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Reported Earnings • Aug 09
First half 2021 earnings released: EPS S$0.014 (vs S$0.038 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: S$268.6m (down 5.5% from 1H 2020). Net income: S$8.01m (down 63% from 1H 2020). Profit margin: 3.0% (down from 7.7% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 08
QAF Limited Declares Final Tax-Exempt (One-Tier) Dividend for the Financial Year Ended 31 December 2020 QAF Limited announced that at its AGM held on April 23, 2021, declared a final tax-exempt (one-tier) dividend of 4 cents per ordinary share in respect of the financial year ended 31 December 2020. Upcoming Dividend • Apr 29
Upcoming dividend of S$0.04 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 25 May 2021. Trailing yield: 5.0%. Within top quartile of Singaporean dividend payers (4.6%). Higher than average of industry peers (2.4%). Reported Earnings • Mar 27
Full year 2020 earnings released: EPS S$0.073 (vs S$0.032 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: S$561.8m (up 13% from FY 2019). Net income: S$42.1m (up 132% from FY 2019). Profit margin: 7.5% (up from 3.7% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 23
New 90-day high: S$1.00 The company is up 12% from its price of S$0.90 on 25 November 2020. The Singaporean market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Food industry, which is up 24% over the same period. Is New 90 Day High Low • Feb 04
New 90-day high: S$0.98 The company is up 10.0% from its price of S$0.89 on 06 November 2020. The Singaporean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 27% over the same period. Is New 90 Day High Low • Jan 18
New 90-day high: S$0.94 The company is up 5.0% from its price of S$0.89 on 20 October 2020. The Singaporean market is up 17% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Food industry, which is up 23% over the same period. Announcement • Sep 22
Rivalea Reportedly to Have Revived Plan for Sale Itself Rivalea Australia Pty Ltd. is understood to have revived plans for a sale, drafting in Rabobank to work on a divestment. The business is owned by QAF Limited (SGX:Q01). It bought Rivalea in 2001. QAF has made efforts to sell Rivalea in recent years, including attempts to list the business through an initial public offering in 2017, and it launched a sales process the following year. At that time, QAF was hoping to secure a price of about $196 million for the operation. It is understood the company has recently received offers between $80 million and $100 million.