Announcement • Apr 16
Le tree Holdings Limited, Annual General Meeting, Apr 30, 2026 Le tree Holdings Limited, Annual General Meeting, Apr 30, 2026, at 10:00 Singapore Standard Time. Location: 80 raffl es place, 33-00 uob plaza 1 singapore 048624, Singapore New Risk • Jan 31
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 Risks Share price has been highly volatile over the past 3 months (55% average weekly change). High level of non-cash earnings (116% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (S$25.9m market cap, or US$20.4m). Board Change • Jan 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Meriana Ang is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Oct 04
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. Lead Independent Director Meriana Ang is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 23
Lin Yiyi entered into a sale and purchase agreement to acquire 66.91% stake in Samko Timber Limited (SGX:E6R) from Sampoerna Forestry Limited for SGD 3.1 million. Lin Yiyi entered into a sale and purchase agreement to acquire 66.91% stake in Samko Timber Limited (SGX:E6R) from Sampoerna Forestry Limited for SGD 3.1 million on July 23, 2025. In the event that the Offeror acquires not less than 90% of the total number of issued Share the Offeror will be entitled to exercise the right to compulsorily acquire all the Shares of Shareholders who have not accepted the Offer at a price equal to the Offer Price.
Evolve, as the financial advisor to the Offeror for the Offer, confirms that sufficient financial resources are available to the Offeror to satisfy full acceptance of the Offer by the holders of the Offer Shares on the basis of the Offer Price.
EVOLVE CAPITAL ADVISORY PRIVATE LIMITED acted as Financial advisor to Lin Yiyi. New Risk • Jul 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 116% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. High level of non-cash earnings (116% accrual ratio). Market cap is less than US$10m (S$8.65m market cap, or US$6.73m). Announcement • Jun 11
Samko Timber Limited to Report First Half, 2025 Results on Aug 14, 2025 Samko Timber Limited announced that they will report first half, 2025 results on Aug 14, 2025 Announcement • Apr 11
Samko Timber Limited, Annual General Meeting, Apr 25, 2025 Samko Timber Limited, Annual General Meeting, Apr 25, 2025, at 10:00 Singapore Standard Time. Location: 80 raffles place, 33-00 uob plaza 1, singapore 048624, Singapore New Risk • Mar 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$8.65m (US$6.44m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-Rp1.5t). Revenue is less than US$1m. Market cap is less than US$10m (S$8.65m market cap, or US$6.44m). Minor Risk Large one-off items impacting financial results. Announcement • Mar 28
Putera Sampoerna completed the acquisition of an unknown majority stake in PT Sumber Graha Sejahtera, Samko Trading Pte. Ltd.and Samko Forestry Pte. Ltd from Samko Timber Limited (SGX:E6R). Putera Sampoerna agreed to acquire an unknown majority stake in PT Sumber Graha Sejahtera, Samko Trading Pte. Ltd.and Samko Forestry Pte. Ltd from Samko Timber Limited (SGX:E6R) for SGD 5 million on October 2, 2024.The transaction is subject to approval of offer by target shareholders. The net proceeds from the disposal shall be utilised for general working capital and for a proposed cash distribution in connection with a proposed capital. Industrial and Commercial Bank of China Limited Singapore Branch acted as financial advisor for Samko Timber Limited. Shareholder meeting of Samko Timber Limited for approval of transaction is on February 3, 2025. The expected date of acquisition is on or before March 31, 2025. Dentons Rodyk & Davidson LLP acted as legal advisor to Samko Timber Limited and Evolve Capital Asia acted as financial advisor to Samko Timber Limited. PT Sumber Graha Sejahtera, Samko Trading Pte. Ltd.and Samko Forestry Pte. Ltd reported total assets of SGD 410.4 million as on September 30, 2024.
Putera Sampoerna completed the acquisition of an unknown majority stake in PT Sumber Graha Sejahtera, Samko Trading Pte. Ltd.and Samko Forestry Pte. Ltd from Samko Timber Limited (SGX:E6R) on March 27, 2025. Announcement • Mar 27
Samko Timber Limited Announces Changes to the Composition of the Board of Directors and Board Committees The Board of Directors of Samko Timber Limited announced the following changes to Board members of the Company, with effect from 27 March 2025: Mr. Riko Setyabudhy Handoko has resigned as Executive Director of the Company with effect from 27 March 2025. Following his resignation, Mr. Riko Setyabudhy Handoko has ceased to be the Executive Director and member of the Board Risk Committee of the Company. Mr. Eka Dharmajanto Kasih has resigned as Non-Independent Non-Executive Chairman of the Company with effect from 27 March 2025. Following his resignation, Mr. Eka Dharmajanto Kasih has ceased to be the Non-Independent Non-Executive Chairman and member of the Board Risk Committee of the Company. Mr. Michael Joseph Sampoerna has resigned as Non-Independent Director of the Company with effect from 27 March 2025. Following his resignation, Mr. Michael Joseph Sampoerna has ceased to be a Non-Independent Director of the Company. Mr. Timotius has resigned as Non-Independent Director of the Company with effect from 27 March 2025. Following his resignation, Mr. Michael Joseph Sampoerna has ceased to be an Independent Director, Chairman of the Nomination Committee and Board Risk Committee and a member of the Audit Committee and Remuneration Committee of the Company. Following the foregoing changes, the new composition of the Board and Board Committees with effect from 27 March 2025 shall be as follows: Board of Directors: Ms Meriana Ang (Lead Independent Director) Mr. Hadi Daryanto (Independent Director) Mr. Ito Sumardi (Independent Director). Audit Committee: Ms Meriana Ang (Chairman) Mr. Hadi Daryanto Mr. Ito Sumardi. Nomination Committee: Mr. Hadi Daryanto (Chairman) Mr. Ito Sumardi Ms Meriana Ang. Remuneration Committee: Mr. Ito Sumardi (Chairman) Ms Meriana Ang Mr. Hadi Daryanto. Board Risk Committee: Ms Meriana Ang (Chairman) Mr. Ito Sumardi Mr. Hadi Daryanto. New Risk • Mar 02
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-Rp1.5t). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (S$17.3m market cap, or US$12.8m). Reported Earnings • Nov 16
Third quarter 2024 earnings released: Rp16.00 loss per share (vs Rp105 loss in 3Q 2023) Third quarter 2024 results: Rp16.00 loss per share (improved from Rp105 loss in 3Q 2023). Revenue: Rp603.9b (up 26% from 3Q 2023). Net loss: Rp137.2b (loss narrowed 46% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 12 percentage points per year, which is a significant difference in performance. Announcement • Oct 03
Putera Sampoerna agreed to acquire an unknown majority stake in PT Sumber Graha Sejahtera, Samko Trading Pte. Ltd.and Samko Forestry Pte. Ltd from Samko Timber Limited (SGX:E6R). Putera Sampoerna agreed to acquire an unknown majority stake in PT Sumber Graha Sejahtera, Samko Trading Pte. Ltd.and Samko Forestry Pte. Ltd from Samko Timber Limited (SGX:E6R) on October 2, 2024.The transaction is subject to approval of offer by acquirer shareholders and approval of offer by target shareholders. The net proceeds from the disposal shall be utilised for general working capital and for a proposed cash distribution in connection with a proposed capital. Industrial and Commercial Bank of China Limited Singapore Branch acted as financial advisor for Samko Timber Limited. Announcement • May 11
Samko Timber Limited Announces Change of Company Secretary The Board of Directors of Samko Timber Limited announced the appointment of Ms. Janet Tan as Company Secretary in place of Ms. Kiar Lee Noi with effect from 10 May 2024. New Risk • May 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: S$8.65m (US$6.39m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-Rp611b). Earnings have declined by 77% per year over the past 5 years. Shareholders have been substantially diluted in the past year (259% increase in shares outstanding). Market cap is less than US$10m (S$8.65m market cap, or US$6.39m). Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Hadi Daryanto was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 27
Samko Timber Limited Announces Board and Committee Changes Samko Timber Limited announced at its AGM held on April 26, 2024 that Mr. Ng and Mr. Munandar have also concurrently relinquished their roles in the respective Board Committees as follows: Mr. Ng, upon his retirement as the Lead Independent Director of the Company, has ceased as the Chairman of the AC, and a member of the Nomination Committee (the "NC"), Remuneration Committee (the "RC") and BRC of the Company respectively; and Mr. Munandar, upon his retirement as the Independent Director of the Company, has ceased as the Chairman of the NC and BRC, and a member of the AC and RC of the Company respectively. Reported Earnings • Apr 14
Full year 2023 earnings released: Rp312 loss per share (vs Rp106 loss in FY 2022) Full year 2023 results: Rp312 loss per share (further deteriorated from Rp106 loss in FY 2022). Revenue: Rp2.26t (down 38% from FY 2022). Net loss: Rp752.5b (loss widened 198% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. Announcement • Apr 12
Samko Timber Limited, Annual General Meeting, Apr 26, 2024 Samko Timber Limited, Annual General Meeting, Apr 26, 2024, at 14:00 Singapore Standard Time. Location: t Carlton Hotel Singapore, Empress Ballroom 1, Level 2, 76 Bras Basah Road Singapore Singapore Agenda: To receive and adopt the Directors' Statement and the Audited Financial Statements of theCompany for the financial year ended 31 December 2023 together with the Independent Auditors' Report thereon;To re-elect Mr Hadi Daryanto, a Director of the Company retiring pursuant to Article 94 of the Constitution of the Company; To note the retirement of Mr Sim Idrus Munandar, who is retiring pursuant to Article 94 of the Constitution of the Company and has decided not to offer himself for re-election at the AGM; To re-appoint Messrs BDO LLP as the Auditors of the Company and to authorise the Directors of the Company to fix their remuneration and to consider other matters. Announcement • Mar 01
Samko Timber Limited Announces Management Changes Samko Timber Limited announced that Mr. Faisal will be appointed as Head of Operations Division in place of Mr. Rudiyanto Tan, the former Head of Operations Division. This position has been left vacant since the resignation of Mr. Rudiyanto Tan on 31 July 2023 and to be more focused on commercial effectiveness and specific market segments positioning strategy, the Commercial Division will be split into Domestic Commercial Division and International Commercial Division. Therefore, Mr. Edward Tombokan, the current Head of Commercial Division, will be retitled as the Head of International Commercial Division and Mr. Marcellus Agha Tri Prasetyo will be appointed as Head of Domestic Commercial Division. Working Experience of Marcellus Agha Tri Prasetyo: Aug. 2015-Present, PT Sumber Graha Sejahtera (Sampoerna Kayoe). Join as Channel Marketing Head later holding the position of International Sales and Marketing General Manager for various international sales region. One year holding the position of Head of Sales & Operation ARM (Distribution Company) before move to current position as Head of Domestic Commercial 2013-2015, PT. Nutrifood Indonesia, Global Business Manager for ASEAN and GCC Countries. Professional Qualifications of Marcellus Agha Tri Prasetyo: 2011, Master of Business Administration at School of Business and Management Institute of Technology Bandung (MBA ITB), Indonesia 2006, Bachelor Degree in Economic Management at Parahyangan Catholic University (UNPAR) Bandung, Indonesia. Working Experience of Faisal: 2023-Present, PT. Sumber Graha Sejahtera (Sampoerna Kayoe), Head of Operations and Production 2009-2023, PT. Sumber Graha Sejahtera (Sampoerna Kayoe), General Manager. Professional Qualifications: 1998, Financial Management, Bachelor Degree, Sekolah Tinggi Ilmu Ekonomi Indonesia, Banda Aceh, Indonesia. Reported Earnings • Mar 01
Full year 2023 earnings released: Rp312 loss per share (vs Rp106 loss in FY 2022) Full year 2023 results: Rp312 loss per share (further deteriorated from Rp106 loss in FY 2022). Revenue: Rp2.26t (down 38% from FY 2022). Net loss: Rp752.5b (loss widened 198% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (54% average weekly change). Negative equity (-Rp84b). Earnings have declined by 78% per year over the past 5 years. Shareholders have been substantially diluted in the past year (259% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (S$25.9m market cap, or US$19.3m). New Risk • Jan 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 259% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-Rp84b). Earnings have declined by 78% per year over the past 5 years. Shareholders have been substantially diluted in the past year (259% increase in shares outstanding). Minor Risk Market cap is less than US$100m (S$25.9m market cap, or US$19.5m). Reported Earnings • Aug 15
First half 2023 earnings released: Rp103 loss per share (vs Rp2.00 profit in 1H 2022) First half 2023 results: Rp103 loss per share (down from Rp2.00 profit in 1H 2022). Revenue: Rp1.30t (down 40% from 1H 2022). Net loss: Rp247.7b (down Rp252.3b from profit in 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. New Risk • Aug 13
New major risk - Negative shareholders equity The company has negative equity. Total equity: -Rp84b This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-Rp84b). Earnings have declined by 78% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-Rp316b). Market cap is less than US$100m (S$36.1m market cap, or US$26.7m). Reported Earnings • Apr 21
Full year 2022 earnings released: Rp106 loss per share (vs Rp3.26 loss in FY 2021) Full year 2022 results: Rp106 loss per share (further deteriorated from Rp3.26 loss in FY 2021). Revenue: Rp3.62t (down 8.2% from FY 2021). Net loss: Rp252.9b (loss widened Rp245.1b from FY 2021). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Mar 02
Full year 2022 earnings released: Rp75.00 loss per share (vs Rp4.73 loss in FY 2021) Full year 2022 results: Rp75.00 loss per share (further deteriorated from Rp4.73 loss in FY 2021). Revenue: Rp3.62t (down 8.1% from FY 2021). Net loss: Rp179.4b (loss widened Rp168.1b from FY 2021). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 13
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up Rp18.8b from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Apr 16
Full year 2021 earnings released: Rp5.00 loss per share (vs Rp38.65 loss in FY 2020) Full year 2021 results: Rp5.00 loss per share (up from Rp38.65 loss in FY 2020). Revenue: Rp3.94t (up 23% from FY 2020). Net loss: Rp10.9b (loss narrowed 88% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Announcement • Apr 15
Samko Timber Limited, Annual General Meeting, Apr 29, 2022 Samko Timber Limited, Annual General Meeting, Apr 29, 2022, at 11:00 Singapore Standard Time. Agenda: To consider Directors' Statement and Audited Financial Statements for the financial year ended 31 December 2021 together with the Independent Auditors' Report; to re-election of directors; to Approval of Directors' fees; to Re-appointment of Messrs Moore Stephens LLP as Auditors; to Authority to allot and issue new shares; and to Authority to issue shares under the Samko Timber Performance Share Plan. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: Rp5.00 loss per share (up from Rp38.65 loss in FY 2020). Revenue: Rp3.94t (up 23% from FY 2020). Net loss: Rp10.9b (loss narrowed 88% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 17
Insider recently sold S$52k worth of stock On the 14th of June, Tji Koh sold around 2m shares on-market at roughly S$0.035 per share. In the last 3 months, they made an even bigger sale worth S$70k. Insiders have been net sellers, collectively disposing of S$299k more than they bought in the last 12 months. Executive Departure • May 05
Independent & Non-Executive Director has left the company On the 30th of April, Ewe Lay Wee's tenure as Independent & Non-Executive Director ended after 13.4 years in the role. We don't have any record of a personal shareholding under Ewe Lay's name. Ewe Lay is the only executive to leave the company over the last 12 months. Reported Earnings • Apr 18
Full year 2020 earnings released: Rp38.65 loss per share (vs Rp1.94 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: Rp3.19t (down 19% from FY 2019). Net loss: Rp92.0b (down Rp96.6b from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 119 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: Rp3.19t (down 19% from FY 2019). Net loss: Rp92.0b (down Rp96.6b from profit in FY 2019). Recent Insider Transactions • Feb 25
Insider recently sold S$75k worth of stock On the 23rd of February, Boon Hong Koh sold around 1m shares on-market at roughly S$0.06 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of S$177k more than they bought in the last 12 months. 