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Great Eastern Holdings

SGX:G07
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
G07
SGX
SGD12B
Market Cap
  1. Home
  2. SG
  3. Insurance
Company description

Great Eastern Holdings Limited, an investment holding company, provides insurance products in Singapore, Malaysia, and other Asian countries. The last earnings update was 24 days ago. More info.


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G07 Share Price and Events
7 Day Returns
0%
SGX:G07
-1.8%
Asia Insurance
-1%
SG Market
1 Year Returns
-16.4%
SGX:G07
-3.9%
Asia Insurance
-8.9%
SG Market
G07 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Great Eastern Holdings (G07) 0% 0.4% -1.9% -16.4% 21.1% 18.9%
Asia Insurance -1.8% -8.7% -2% -3.9% 59.8% 64%
SG Market -1% -4.7% -3.3% -8.9% 7.6% -8.7%
1 Year Return vs Industry and Market
  • G07 underperformed the Insurance industry which returned -3.9% over the past year.
  • G07 underperformed the Market in Singapore which returned -8.9% over the past year.
Price Volatility
G07
Industry
5yr Volatility vs Market

Value

 Is Great Eastern 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 Great Eastern 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

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

SGX:G07 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= SGD15.71 * 13.9%
SGD2.19
Book Value of Equity per Share Median Book Value from the past 5 years. SGD15.71
Discount Rate (Cost of Equity) See below 7.2%
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:G07
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.726 (1 + (1- 17%) (3.26%))
0.829
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.83
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.829 * 5.96%)
7.25%

Discounted Cash Flow Calculation for SGX:G07 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Great Eastern Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SGX:G07 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.9% – 7.25%) * SGD15.71)
SGD1.05
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= SGD1.05 / (7.25% - 2.3%)
SGD21.24
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= SGD15.71 + SGD21.24
SGD36.95
SGX:G07 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD36.95
Current discount Discount to share price of SGD25.91
= -1 x (SGD25.91 - SGD36.95) / SGD36.95
29.9%

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

Current Discount
Amount off the current price Great Eastern Holdings is available for.
Intrinsic value
30%
Share price is SGD25.91 vs Future cash flow value of SGD36.95
Current Discount Checks
For Great Eastern Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Great Eastern Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Great Eastern Holdings's share price is below the future cash flow value, but not 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 Great Eastern Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Great Eastern Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:G07 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD1.97
SGX:G07 Share Price ** SGX (2019-05-24) in SGD SGD25.91
Asia Insurance Industry PE Ratio Median Figure of 19 Publicly-Listed Insurance Companies 17.35x
Singapore Market PE Ratio Median Figure of 322 Publicly-Listed Companies 12.77x

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

** Primary Listing of Great Eastern Holdings.

SGX:G07 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:G07 Share Price ÷ EPS (both in SGD)

= 25.91 ÷ 1.97

13.17x

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

  • Great Eastern Holdings is good value based on earnings compared to the Asia Insurance industry average.
  • Great Eastern Holdings is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does Great Eastern Holdings's expected growth come at a high price?
Raw Data
SGX:G07 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.17x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Insurance Industry PEG Ratio Median Figure of 14 Publicly-Listed Insurance Companies 1.78x
Singapore Market PEG Ratio Median Figure of 120 Publicly-Listed Companies 1.55x

*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 Great Eastern Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Great Eastern Holdings's assets?
Raw Data
SGX:G07 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD16.90
SGX:G07 Share Price * SGX (2019-05-24) in SGD SGD25.91
Asia Insurance Industry PB Ratio Median Figure of 23 Publicly-Listed Insurance Companies 1.24x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.73x
SGX:G07 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:G07 Share Price ÷ Book Value per Share (both in SGD)

= 25.91 ÷ 16.90

1.53x

* Primary Listing of Great Eastern Holdings.

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

  • Great Eastern Holdings is overvalued based on assets compared to the Asia Insurance industry average.
X
Value checks
We assess Great Eastern 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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. Great Eastern Holdings has a total score of 2/6, 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 Great Eastern Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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
-1.8%
Expected annual growth in earnings per share.
Earnings growth vs Low Risk Savings
Is Great Eastern Holdings expected to grow at an attractive rate?
  • Great Eastern Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Great Eastern Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.
  • Unable to compare Great Eastern Holdings's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:G07 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:G07 Future Earnings per Share Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 0 Analysts -1.8%
Asia Insurance Industry Earnings Growth Rate Market Cap Weighted Average 16.1%
Asia Insurance Industry Revenue Growth Rate Market Cap Weighted Average 10.6%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.7%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

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

Analysts growth expectations
Raw Data
SGX:G07 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:G07 Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31
SGX:G07 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 15,032 4,379 931
2018-12-31 12,096 4,137 741
2018-09-30 15,713 5,012 1,150
2018-06-30 15,143 5,647 1,225
2018-03-31 15,660 5,264 1,099
2017-12-31 17,591 6,570 1,037
2016-12-31 11,679 3,134 589

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Great Eastern Holdings's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Great Eastern 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:G07 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Great Eastern Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:G07 Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.90 1.90 1.90 1.00
2020-12-31 1.84 1.84 1.84 1.00
2019-12-31 1.97 1.97 1.97 1.00
SGX:G07 Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 1.97
2018-12-31 1.56
2018-09-30 2.43
2018-06-30 2.60
2018-03-31 2.32
2017-12-31 2.19
2016-12-31 1.25

*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 Great Eastern Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Great Eastern 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 Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Great Eastern Holdings has a total score of 0/6, 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 Great Eastern 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 Great Eastern Holdings's growth in the last year to its industry (Insurance).
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.
  • Great Eastern Holdings's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Great Eastern Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Great Eastern Holdings's 1-year earnings growth is negative, it can't be compared to the Asia Insurance industry average.
Earnings and Revenue History
Great Eastern 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 Great Eastern Holdings Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:G07 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 15,031.60 930.50 572.20
2018-12-31 12,096.20 740.70 559.30
2018-09-30 15,712.80 1,150.40 603.90
2018-06-30 15,143.40 1,224.60 592.90
2018-03-31 15,659.90 1,098.80 614.10
2017-12-31 17,591.10 1,036.70 601.40
2016-12-31 11,678.80 589.30 533.40
2015-12-31 10,138.60 785.40 496.30
2014-12-31 10,369.40 878.60 473.50
2013-12-31 10,197.40 674.80 432.30
2012-12-31 11,485.80 1,189.10 448.00

*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.
  • Great Eastern Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Great Eastern Holdings used its assets less efficiently than the Asia Insurance industry average last year based on Return on Assets.
  • Great Eastern Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Great Eastern 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 Insurance 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.
Great Eastern Holdings has a total score of 2/6, 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 Great Eastern 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 Great Eastern Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Great Eastern Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Great Eastern Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Great Eastern 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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 214.8x 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 Great Eastern Holdings Company Filings, last reported 1 month ago.

SGX:G07 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 8,091.30 399.80 81,420.90
2018-12-31 7,521.50 402.70 5,736.30
2018-09-30 7,561.70 399.80 3,529.50
2018-06-30 7,349.60 399.80 3,169.90
2018-03-31 7,519.40 399.70 3,608.20
2017-12-31 7,614.80 400.70 7,043.60
2016-12-31 6,664.20 437.70 4,663.70
2015-12-31 6,297.00 414.10 4,845.90
2014-12-31 5,931.90 444.10 4,956.60
2013-12-31 5,127.30 419.00 5,491.20
2012-12-31 4,839.50 400.10 6,252.10
  • Great Eastern Holdings's level of debt (4.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (8% vs 4.9% today).
  • Debt is well covered by operating cash flow (1095.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 69.3x coverage).
X
Financial health checks
We assess Great Eastern 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. Great Eastern Holdings has a total score of 6/6, 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 Great Eastern 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
2.32%
Current annual income from Great Eastern Holdings dividends. Estimated to be 2.5% next year.
If you bought SGD2,000 of Great Eastern Holdings shares you are expected to receive SGD46 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?
  • Great Eastern Holdings's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.53%).
  • Great Eastern Holdings's dividend is below the markets top 25% of dividend payers in Singapore (5.75%).
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:G07 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 Insurance Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 1.7%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 277 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.5%
Singapore Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

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

SGX:G07 Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.67 1.00
2020-12-31 0.65 1.00
2019-12-31 0.62 1.00
SGX:G07 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-02-19 0.600 2.294
2018-08-01 0.600 2.279
2018-02-12 0.600 2.002
2017-02-13 0.500 2.032
2016-02-15 0.550 2.622
2015-07-27 0.550 2.676
2015-03-30 0.550 2.240
2015-02-05 0.550 2.199
2014-07-30 0.550 2.332
2014-02-06 0.550 2.767
2013-07-30 0.370 2.123
2013-02-13 0.370 2.068
2012-02-14 0.540 3.733
2011-10-31 0.200 1.529
2011-08-03 0.200 1.555
2011-05-04 0.000 0.000
2011-03-22 0.000 0.000
2011-02-15 0.000 0.000
2010-07-29 0.370 2.334
2010-03-01 0.320 2.019
2010-02-10 0.320 2.315
2009-07-31 0.100 0.746

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Great Eastern Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Great Eastern 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 Great Eastern Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Great Eastern Holdings has a total score of 2/6, 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 Great Eastern 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
Hock Seng Khor
COMPENSATION SGD5,680,000
AGE 59
TENURE AS CEO 3.5 years
CEO Bio

Mr. Hock Seng Khor has been the Group Chief Executive Officer at Great Eastern Holdings Limited since November 2, 2015. Mr. Khor served as Chief Executive Officer of Friends Provident International Limited since 2015 until September 1, 2015. He served as the Chief Executive Officer of Aviva Asia Pte. Ltd. (known as Aviva Asia), a subsidiary of Aviva plc since March 8, 2013 until October 2015. Mr. Khor served as the Chief Executive Officer of AIA Group Corporate Solutions at AIA Group Limited since December 1, 2012. He served as the Chief Executive Officer of Aia Group Corporate Solutions at American International Assurance Bhd. He served as the Chief Executive Officer at American International Assurance Bhd. since June 1, 2008. Mr. Khor served as the Chief Executive Officer of AIA Malaysia until December 1, 2012 and was responsible for overseeing the business of AIA Malaysia. He served as Executive Vice President & Senior Regional Executive at AIA Group Limited. He joined American International Assurance Bhd. in February 2006 as Senior Vice President and Deputy General Manager. He served as Senior Vice President and General Manager since December 1, 2006. He has over 30 years of insurance experience with roles in actuarial, operations, sales & marketing and general management at Manulife, Hong Leong, British American Life & General and Malaysian American Insurance. He begin his Insurance Career with Malaysian American Assurance. He served at British American Life & General Insurance for 4 years. He served as Head of Operations Dept of Hong Leong Assurance Bhd until 1997. He served as Senior Vice President of Sales and Marketing for Manulife Insurance. He served as President and Chief Executive Officer of Manulife from 2001 to 2006. He served as Chief Executive Officer, President and Managing Director of Manulife Holdings Berhad (Formerly known as John Hancock Life Insurance (Malaysia) Berhad) until December 20, 2005. He served various positions with various companies in the areas of Insurance Operations, Actuarial, Agency Development and Alternative Distribution Channels. He has been Director of Overseas Assurance Corporation (Malaysia) Berhad since August 5, 2016. Mr. Khor serves as Non-Independent Executive Director of Great Eastern Takaful Berhad since August 3, 2016. He serves as Director of Manulife Holdings Berhad's wholly-owned subsidiary, The e-Software House Sdn Bhd. He served as Director of AIA Insurance Lanka PLC from December 5, 2012 to February 6, 2013. He served as Executive Director of Friends Provident International Limited since August 27, 2015 until September 1, 2015. Mr. Khor served as Director of Manulife Holdings Berhad from March 14, 2001 to December 20, 2005. He served as a Non-Executive & Independent Director of Aviva NDB Insurance PLC from December 2012 to February 6, 2013. Mr. Khor graduated with a Bachelors of Arts degree in Actuarial Studies and Statistics from the Macquarie University, Australia in 1982 and holds a Certificate of Actuarial Techniques from the Institute of Actuaries, UK in 1987.

CEO Compensation
  • Hock Seng's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Hock Seng's remuneration is higher than average for companies of similar size in Singapore.
Management Team Tenure

Average tenure of the Great Eastern Holdings management team in years:

3.5
Average Tenure
  • The tenure for the Great Eastern Holdings management team is about average.
Management Team

Hock Seng Khor

TITLE
Group Chief Executive Officer
COMPENSATION
SGD6M
AGE
59
TENURE
3.5 yrs

Ronnie Tan

TITLE
Group Chief Financial Officer
AGE
45
TENURE
2.8 yrs

Patrick Kok

TITLE
Managing Director of Group Operations

Ai Ning Wee

TITLE
Group Chief Investment Officer

Claudia Soh

TITLE
Head of Group Management Reporting & Investor Relations and Chief Internal Auditor

Francis Seo

TITLE
Head of Distribution Risk & Compliance
TENURE
5.3 yrs

Jennifer Wong Pakshong

TITLE
General Counsel & Group Company Secretary

Seck Geok Tan

TITLE
Head of Corporate Communications

Colin Chan

TITLE
Managing Director of Group Marketing

James Lee

TITLE
Managing Director of Group Human Capital
Board of Directors Tenure

Average tenure and age of the Great Eastern Holdings board of directors in years:

4
Average Tenure
66
Average Age
  • The tenure for the Great Eastern Holdings board of directors is about average.
Board of Directors

Beng Seng Koh

TITLE
Chairman of the Board
COMPENSATION
SGD537K
AGE
67
TENURE
4.7 yrs

Kyle Lee

TITLE
Independent Director
COMPENSATION
SGD262K
AGE
66
TENURE
4.8 yrs

Fook Sun Lee

TITLE
Independent Director
COMPENSATION
SGD170K
AGE
62
TENURE
1.8 yrs

Song Keng Law

TITLE
Non-Executive Director
COMPENSATION
SGD243K
AGE
73
TENURE
6.3 yrs

Norman Ip

TITLE
Non-Executive Director
COMPENSATION
SGD423K
AGE
66
TENURE
9.2 yrs

Joo Yeow Wee

TITLE
Non-Executive Director
COMPENSATION
SGD150K
AGE
70
TENURE
3.3 yrs

Tit Koon Soon

TITLE
Independent Director
COMPENSATION
SGD162K
AGE
67
TENURE
3.3 yrs

Nam Yew Thean

TITLE
Independent Director
COMPENSATION
SGD188K
AGE
50
TENURE
2.3 yrs

Lian Ee Teoh

TITLE
Independent Non-Executive Director
COMPENSATION
SGD162K
AGE
65
TENURE
1.8 yrs

Samuel Tsien

TITLE
Non-Independent Director
COMPENSATION
SGD222K
AGE
63
TENURE
7.1 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)
X
Management checks
We assess Great Eastern 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. Great Eastern 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

Introducing Great Eastern Holdings (SGX:G07), A Stock That Climbed 43% In The Last Five Years

For example, the Great Eastern Holdings Limited (SGX:G07) share price is up 43% in the last 5 years, clearly besting than the market return of around -3.4% (ignoring dividends). … During five years of share price growth, Great Eastern Holdings achieved compound earnings per share (EPS) growth of 1.9% per year. … This EPS growth is slower than the share price growth of 7.4% per year, over the same period.

Simply Wall St -

Great Eastern Holdings Limited (SGX:G07) Has A ROE Of 10.0%

To keep the lesson grounded in practicality, we'll use ROE to better understand Great Eastern Holdings Limited (SGX:G07). … Our data shows Great Eastern Holdings has a return on equity of 10.0% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Buy Great Eastern Holdings Limited (SGX:G07) For Its Dividend?

Historically, Great Eastern Holdings Limited (SGX:G07) has been paying a dividend to shareholders. … Let's dig deeper into whether Great Eastern Holdings should have a place in your portfolio. … See our latest analysis for Great Eastern Holdings

Simply Wall St -

Should You Worry About Great Eastern Holdings Limited's (SGX:G07) CEO Salary Level?

Hock Seng Khor became the CEO of Great Eastern Holdings Limited (SGX:G07) in 2015. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Hock Seng Khor's Compensation Compare With Similar Sized Companies?

Simply Wall St -

These Fundamentals Make Great Eastern Holdings Limited (SGX:G07) Truly Worth Looking At

I've been keeping an eye on Great Eastern Holdings Limited (SGX:G07) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe G07 has a lot to offer. … is a company with great financial health as well as a.

Simply Wall St -

Stocks Take A Hit: How Will Great Eastern Holdings Limited (SGX:G07) Fare?

Longstanding stocks such as Great Eastern Holdings Limited has fared well over time in a volatile stock market, which is why it’s my top pick to invest in. … See our latest analysis for Great Eastern Holdings. … Great Eastern Holdings Limited, an investment holding company, provides insurance products in Singapore, Malaysia, and other Asian countries

Simply Wall St -

Do You Know What Great Eastern Holdings Limited's (SGX:G07) P/E Ratio Means?

We'll look at Great Eastern Holdings Limited's (SGX:G07) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Great Eastern Holdings's P/E ratio is 10.37. … How Do You Calculate Great Eastern Holdings's P/E Ratio

Simply Wall St -

Is Great Eastern Holdings Limited (SGX:G07) A Smart Choice For Dividend Investors?

Historically, Great Eastern Holdings Limited (SGX:G07) has paid dividends to shareholders, and these days it yields 2.4%. … Does Great Eastern Holdings tick all the boxes of a great dividend stock? … View our latest analysis for Great Eastern Holdings

Simply Wall St -

Does Great Eastern Holdings Limited's (SGX:G07) Past Performance Indicate A Stronger Future?

When Great Eastern Holdings Limited (SGX:G07) released its most recent earnings update (30 September 2018), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Being able to interpret how well Great Eastern Holdings has done so far requires weighing its performance against a benchmark, rather than looking at a standalone number at a point in time. … See our latest analysis for Great Eastern Holdings?

Simply Wall St -

Is Great Eastern Holdings Limited's (SGX:G07) CEO Pay Justified?

Hock Seng Khor became the CEO of Great Eastern Holdings Limited (SGX:G07) in 2015. … How Does Hock Seng Khor's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Great Eastern Holdings Limited has a market cap of S$12.4b, and is paying total annual CEO compensation of S$5m.

Simply Wall St -

Company Info

Description

Great Eastern Holdings Limited, an investment holding company, provides insurance products in Singapore, Malaysia, and other Asian countries. It operates through Life Insurance, Non-Life Insurance, and Shareholders segments. The Life Insurance segment offers life, long-term health and accident, annuity, and unit-linked insurance products. The Non-Life Insurance segment provides short term property and casualty products, including fire or burglary insurance contracts and/or business interruption contracts, and public liability insurance contracts; and short term medical and personal accident non-life insurance contracts. The Shareholders segment offers fund management services for absolute return/balanced mandates; and manages various products, such as the Asia Pacific equities, and Asian and global fixed income securities portfolios for Singapore statutory boards, government-linked corporations, public and private companies, insurance companies, and charity organizations. Great Eastern Holdings Limited is also involved in composite insurance, asset management, property investment, and family Takaful business activities. The company was founded in 1908 and is headquartered in Singapore. Great Eastern Holdings Limited is a subsidiary of Oversea-Chinese Banking Corporation Limited.

Details
Name: Great Eastern Holdings Limited
G07
Exchange: SGX
Founded: 1908
SGD12,263,697,077
473,319,069
Website: http://www.greateasternlife.com
Address: Great Eastern Holdings Limited
Great Eastern Centre,
No. 01-01, 1 Pickering Street,
Singapore,
048659,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX G07 Ordinary Shares Singapore Exchange SG SGD 02. Jan 1981
Number of employees
Current staff
Staff numbers
4,227
Great Eastern Holdings employees.
Industry
Life and Health Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 12:38
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/05
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.