Upcoming Dividend • May 04
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 11 May 2026. Payment date: 26 May 2026. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of Singaporean dividend payers (5.0%). Lower than average of industry peers (3.2%). Declared Dividend • Apr 10
Dividend of S$0.01 announced Dividend of S$0.01 is the same as last year. Ex-date: 11th May 2026 Payment date: 26th May 2026 Dividend yield will be 1.0%, which is lower than the industry average of 4.2%. Payout Ratios Payout ratio: 23%. Cash payout ratio: 16%. Announcement • Apr 08
Hong Fok Corporation Limited, Annual General Meeting, Apr 30, 2026 Hong Fok Corporation Limited, Annual General Meeting, Apr 30, 2026, at 10:30 Singapore Standard Time. Location: parkroyal on beach road - the ballrooms, grand ballroom 1 & 2, 7500d beach road, singapore 199591, Singapore Buy Or Sell Opportunity • Apr 08
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to S$0.92. The fair value is estimated to be S$0.75, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 78%. Buy Or Sell Opportunity • Mar 18
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 7.8% to S$0.90. The fair value is estimated to be S$0.73, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 16% over the last 3 years. Earnings per share has declined by 78%. Reported Earnings • Mar 03
Full year 2025 earnings released: EPS: S$0.044 (vs S$0.037 in FY 2024) Full year 2025 results: EPS: S$0.044 (up from S$0.037 in FY 2024). Revenue: S$99.0m (down 5.1% from FY 2024). Net income: S$28.5m (up 20% from FY 2024). Profit margin: 29% (up from 23% in FY 2024). 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 • Mar 02
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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (24% net profit margin). Reported Earnings • Aug 18
First half 2025 earnings released: EPS: S$0.008 (vs S$0.006 in 1H 2024) First half 2025 results: EPS: S$0.008 (up from S$0.006 in 1H 2024). Revenue: S$46.9m (up 5.2% from 1H 2024). Net income: S$5.42m (up 49% from 1H 2024). Profit margin: 12% (up from 8.2% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jul 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to S$0.83. The fair value is estimated to be S$0.69, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.8%. Recent Insider Transactions • May 09
Joint CEO & Executive Director recently bought S$60k worth of stock On the 6th of May, Sim Eng Cheong bought around 80k shares on-market at roughly S$0.75 per share. This transaction amounted to less than 1% 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 Sim Eng's only on-market trade for the last 12 months. Upcoming Dividend • May 06
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 13 May 2025. Payment date: 27 May 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Singaporean dividend payers (5.9%). Lower than average of industry peers (4.1%). Reported Earnings • Apr 11
Full year 2024 earnings released: EPS: S$0.037 (vs S$0.14 in FY 2023) Full year 2024 results: EPS: S$0.037 (down from S$0.14 in FY 2023). Revenue: S$104.3m (down 5.7% from FY 2023). Net income: S$23.7m (down 73% from FY 2023). Profit margin: 23% (down from 80% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 10% per year. Declared Dividend • Apr 10
Dividend of S$0.01 announced Dividend of S$0.01 is the same as last year. Ex-date: 13th May 2025 Payment date: 27th May 2025 Dividend yield will be 1.5%, which is lower than the industry average of 4.2%. Payout Ratios Payout ratio: 27%. Cash payout ratio: 16%. Buy Or Sell Opportunity • Mar 02
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 3.7% to S$0.84. The fair value is estimated to be S$0.68, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 5.8%. Reported Earnings • Aug 20
First half 2024 earnings released: EPS: S$0.006 (vs S$0.011 in 1H 2023) First half 2024 results: EPS: S$0.006 (down from S$0.011 in 1H 2023). Revenue: S$44.6m (down 12% from 1H 2023). Net income: S$3.63m (down 47% from 1H 2023). Profit margin: 8.2% (down from 14% in 1H 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 28
Hong Fok Corporation Limited Approves First and Final Tax Exempt (One-Tier) Dividend for the Year Ended 31 December 2023, Payable on 24 May 2024 Hong Fok Corporation Limited at its AGM held on April 29, 2024, approved the first and final tax exempt (one-tier) dividend at 1 cent per ordinary share for the financial year ended 31 December 2023. The final dividend will be paid on 24 May 2024 to members registered in the books of the Company on 13 May 2024. Declared Dividend • Apr 07
Dividend of S$0.01 announced Dividend of S$0.01 is the same as last year. Ex-date: 10th May 2024 Payment date: 24th May 2024 Dividend yield will be 1.2%, which is lower than the industry average of 4.2%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 15%. Announcement • Mar 01
Hong Fok Corporation Limited Announces Change of Company Secretary The Board of Directors of Hong Fok Corporation Limited announced the appointment of Ms. Lim Guek Hong as its Company Secretary with immediate effect in place of Ms Tan Ching Chek who has resigned on 1 March 2024. Following the aforesaid resignation and appointment, the Company Secretaries of the Company are Ms Koh Chay Tiang and Ms Lim Guek Hong. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: S$0.14 (vs S$0.34 in FY 2022) Full year 2023 results: EPS: S$0.14 (down from S$0.34 in FY 2022). Revenue: S$110.8m (down 28% from FY 2022). Net income: S$88.1m (down 60% from FY 2022). Profit margin: 80% (down from 143% in FY 2022). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Feb 01
Hong Fok Corporation Limited Appoints Tan Kok Kwee as Non-Executive Independent Director Hong Fok Corporation Limited announced the appointment of Mr. Tan Kok Kwee as a Non-executive Independent Director of the Company with effect from 1 February 2024. The particulars of Mr. Tan Kok Kwee as required under Rule 704(7) of the Listing Rules are set out in the prescribed Announcement of Appointment of Non-executive Independent Director. Reported Earnings • Aug 16
First half 2023 earnings released: EPS: S$0.011 (vs S$0.014 in 1H 2022) First half 2023 results: EPS: S$0.011 (down from S$0.014 in 1H 2022). Revenue: S$50.8m (down 8.6% from 1H 2022). Net income: S$6.84m (down 25% from 1H 2022). Profit margin: 14% (down from 16% in 1H 2022). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
Hong Fok Corporation Limited Appoints Kwik Sam Aik as Non-Executive Independent Director The Board of Directors of Hong Fok Corporation Limited announced the appointment of Mr. Kwik Sam Aik as a Non-executive Independent Director of the Company with effect from 1 August 2023. Working Experience 1995 - Present Director, Executive Committee Member and Treasurer, The Singapore Chamber of Commerce (Hong Kong) May 2011 - November 2015 Non-executive Independent Director, Chairman of the Nomination Committee and a member of the Audit Committee, Winfoong International Limited (renamed as China Graphene Group Limited in 2016 and subsequently renamed to China Asia Valley Group Limited in 2020) Other DirectorShips Past: Utopa Limited Herons Partnership Limited Herons General Partner Limited Bluewater Partner Limited. Other DirectorShips Present: Welfull Investments Limited United Aviation Company Limited Clearwater Property Advisors Limited Herons Overseas Limited Wellfull Capital Limited. Director Experience Details: Mr. Kwik Sam Aik will be attending training on the roles and responsibilities of a director of a listed issuer as prescribed by the Exchange. Professional Qualifications: Bachelor of Accountancy, University of Singapore (now known as National University of Singapore). Upcoming Dividend • May 04
Upcoming dividend of S$0.01 per share at 0.9% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 23 May 2023. Payout ratio is a comfortable 3.0% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Singaporean dividend payers (6.3%). Lower than average of industry peers (3.6%). Reported Earnings • Apr 07
Full year 2022 earnings released: EPS: S$0.34 (vs S$0.058 in FY 2021) Full year 2022 results: EPS: S$0.34 (up from S$0.058 in FY 2021). Revenue: S$153.9m (up 70% from FY 2021). Net income: S$220.1m (up 466% from FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year and the company’s share price has also increased by 16% per year. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: S$0.34 (vs S$0.058 in FY 2021) Full year 2022 results: EPS: S$0.34 (up from S$0.058 in FY 2021). Revenue: S$154.3m (up 70% from FY 2021). Net income: S$220.1m (up 466% from FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 13% per year. Buying Opportunity • Jan 27
Now 21% undervalued Over the last 90 days, the stock is up 8.7%. The fair value is estimated to be S$1.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 14
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down S$5.05m from profit in 1H 2021). Profit margin: (down from 12% in 1H 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jun 21
Joint CEO & Executive Director recently bought S$186k worth of stock On the 17th of June, Pin Chuan Cheong bought around 200k shares on-market at roughly S$0.93 per share. In the last 3 months, they made an even bigger purchase worth S$1.0m. Pin Chuan has been a buyer over the last 12 months, purchasing a net total of S$1.6m worth in shares. Upcoming Dividend • May 03
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 10 May 2022. Payment date: 20 May 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Singaporean dividend payers (5.8%). Lower than average of industry peers (3.1%). Announcement • May 02
Hong Fok Corporation Limited Announces Executive Changes The Board of Directors of Hong Fok Corporation Limited (the "Company") announced the appointment of Ms. Tan Ching Chek as its Company Secretary with immediate effect in place of Ms. Lo Swee Oi who has resigned on 29 April 2022. Following the aforesaid resignation and appointment, the Company Secretaries of the Company are Ms. Koh Chay Tiang and Ms. Tan Ching Chek. Recent Insider Transactions • Apr 27
Joint CEO & Executive Director recently sold S$547k worth of stock On the 21st of April, Sim Eng Cheong sold around 556k shares on-market at roughly S$0.98 per share. This was the largest sale by an insider in the last 3 months. Sim Eng has been a seller over the last 12 months, reducing personal holdings by S$446k. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 17% share price gain to S$1.06, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 11x in the Real Estate industry in Singapore. Total returns to shareholders of 26% over the past three years. Reported Earnings • Apr 07
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: S$0.058 (up from S$0.013 loss in FY 2020). Net income: S$38.9m (up S$47.6m from FY 2020). Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Announcement • Apr 05
Hong Fok Corporation Limited, Annual General Meeting, Apr 27, 2022 Hong Fok Corporation Limited, Annual General Meeting, Apr 27, 2022, at 10:30 Singapore Standard Time. Agenda: To consider Directors' Statement and Audited Financial Statements; to consider Declaration of First and Final Dividend of 1 cent; to approve the payment of Directors' fees of $353,640 for the financial year ending 31 December 2022; to consider Re-election of Mr. Cheong Pin Chuan as Director retiring under Regulation 104; to consider Re-election of Ms. Cheong Hooi Kheng as Director retiring under Regulation 104; to consider Re-election of Mr. Chong Weng Hoe as Director retiring under Regulation 114; to consider Re-appointment of Auditors; to consider Authority to issue Shares and Convertible Securities; and to consider Renewal of Share Buy-Back Mandate. Recent Insider Transactions • Apr 05
Joint CEO & Executive Director recently bought S$70k worth of stock On the 1st of April, Sim Eng Cheong bought around 80k shares on-market at roughly S$0.88 per share. This was the largest purchase by an insider in the last 3 months. Sim Eng has been a buyer over the last 12 months, purchasing a net total of S$101k worth in shares. Announcement • Apr 01
Hong Fok Corporation Limited Announces Board Changes Hong Fok Corporation Limited announced that Mr. Chow Yew Hon has stepped down from the Board and ceased to be the Lead Independent Director of the Company on 31 March 2022. He has also relinquished his positions as the Chairman of the Remuneration Committee and a member of the Nominating Committee and Audit and Risk Management Committee and his position on these committees will be assumed by Mr. Chong Weng Hoe, an existing Non-executive Independent Director. Board Change • Mar 29
High number of new directors Non-Executive Independent Director Weng Hoe Chong was the last director to join the board, commencing their role in 2022. Announcement • Mar 03
Hong Fok Corporation Limited Proposes First and Final 1-Tier Exempt Dividend for the Year Ended 31 December 2021 Hong Fok Corporation Limited proposed First and final 1-tier exempt dividend of 1.0 cent per share for the Year Ended 31 December 2021. Reported Earnings • Mar 01
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S$0.058 (up from S$0.013 loss in FY 2020). Revenue: S$91.2m (up 13% from FY 2020). Net income: S$38.9m (up S$47.6m from FY 2020). Profit margin: 43% (up from net loss in FY 2020). Revenue missed analyst estimates by 7.3%. Earnings per share (EPS) exceeded analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Board Change • Feb 23
High number of new directors Non-Executive Independent Director Weng Hoe Chong was the last director to join the board, commencing their role in 2022. Announcement • Feb 16
Hong Fok Corporation Limited Approves the Appointment of Chong Weng Hoe as Non-Executive Independent Director The Board of Hong Fok Corporation Limited has considered the Nominating Committee's recommendation and assessment, after taking into consideration of Mr. Chong Weng Hoe 's qualifications, work experience and capabilities and is satisfied that Mr. Chong will be able to contribute towards the core competencies of the Board. Accordingly, the Board approved the appointment of Mr. Chong as a Non-Executive Independent Director. The Board considers Mr. Chong to be independent for the purpose of Rule 704(8) of the Listing Manual. August 2016 - Present Executive Vice President, Global Head of Service Line for EMC (Electronmagnetic Compatibility). Mr. Chong Weng Hoe is a Director of Keong Hong Holdings Limited, HC Surgical Specialists Limited, Singapore Paincare Holdings Limited and ISEC Healthcare Ltd, all are listed on the Exchange. Upcoming Dividend • May 05
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 11 May 2021. Payment date: 21 May 2021. Trailing yield: 1.1%. Lower than top quartile of Singaporean dividend payers (4.6%). Lower than average of industry peers (2.8%). Announcement • Apr 30
Hong Fok Corporation Limited Declares First and Final 1-Tier Tax Exempt Dividend for the Year Ended 31 December 2020 Hong Fok Corporation Limited approved the declaration of a first and final 1-tier tax exempt dividend at 1 cent per ordinary share for the year ended 31 December 2020 at its AGM held on 29 April 2021. Reported Earnings • Apr 10
Full year 2020 earnings released: S$0.013 loss per share (vs S$0.16 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: S$80.4m (down 29% from FY 2019). Net loss: S$8.70m (down 108% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Reported Earnings • Feb 28
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: S$87.2m (down 23% from FY 2019). Net loss: S$8.70m (down 108% from profit in FY 2019). Is New 90 Day High Low • Feb 26
New 90-day low: S$0.69 The company is down 1.0% from its price of S$0.70 on 27 November 2020. The Singaporean market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 2.0% over the same period. Announcement • Jan 23
Hong Fok Corporation Limited Appoints Cheong Tze Hong as Alternate Director The Nominating Committee of Hong Fok Corporation Limited has reviewed the credentials and experience of Mr. Cheong Tze Hong and recommended his appointment as Alternate Director to Mr. Cheong Pin Chuan. The Board of Directors has accepted and approved his appointment based on the recommendation of the Nominating Committee. The appointment is executive. Alternate director to Mr. Cheong Pin Chuan, who is principally involved in the Group's overall operations and management with greater emphasis in Hong Kong. Is New 90 Day High Low • Dec 09
New 90-day high: S$0.74 The company is up 16% from its price of S$0.65 on 10 September 2020. The Singaporean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 8.0% over the same period. Recent Insider Transactions • Nov 19
Joint CEO & Executive Director recently bought S$60k worth of stock On the 17th of November, Sim Eng Cheong bought around 85k shares on-market at roughly S$0.71 per share. This was the largest purchase by an insider in the last 3 months. Sim Eng has been a buyer over the last 12 months, purchasing a net total of S$329k worth in shares. Is New 90 Day High Low • Nov 17
New 90-day high: S$0.70 The company is up 7.0% from its price of S$0.66 on 19 August 2020. The Singaporean market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 3.0% over the same period. Is New 90 Day High Low • Oct 14
New 90-day high: S$0.69 The company is up 1.0% from its price of S$0.68 on 16 July 2020. The Singaporean market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: S$0.63 The company is down 8.0% from its price of S$0.68 on 26 June 2020. The Singaporean market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 5.0% over the same period.