Sing Holdings
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Sing Holdings Limited, an investment holding company, engages in the property development and investment activities in Singapore and Australia. The last earnings update was 15 days ago. More info.
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5IC Share Price and Events
7 Day Returns
1 Year Returns
5IC Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Sing Holdings (5IC) | 0% | 3.8% | 3.8% | -8% | 20.9% | 2.5% |
| SG Real Estate | 0.2% | 2.4% | 6.4% | -7.5% | 5.6% | -5.3% |
| SG Market | 0.3% | 3.1% | 3.7% | -6.7% | 8% | -3.3% |
1 Year Return vs Industry and Market
- 5IC underperformed the Market in Singapore which returned -6.7% over the past year.
5IC Value
Is Sing 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
Sing 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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Sing Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Extrapolated from most recent financials. | See below |
| Discount Rate (Cost of Equity) | See below | 13.8% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year SG Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| Real Estate Unlevered Beta | Simply Wall St/ S&P Global | 1.1 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.099 (1 + (1- 17%) (142.34%)) |
1.936 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.94 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (1.936 * 5.96%) |
13.84% |
Discounted Cash Flow Calculation for SGX:5IC using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Sing Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (SGD, Millions) | Source |
Present Value Discounted (@ 13.84%) |
|
|---|---|---|---|
| 2019 | 56.18 | Est @ 4.89% | 49.35 |
| 2020 | 58.49 | Est @ 4.11% | 45.13 |
| 2021 | 60.58 | Est @ 3.57% | 41.06 |
| 2022 | 62.51 | Est @ 3.19% | 37.22 |
| 2023 | 64.34 | Est @ 2.92% | 33.65 |
| 2024 | 66.10 | Est @ 2.74% | 30.36 |
| 2025 | 67.82 | Est @ 2.61% | 27.37 |
| 2026 | 69.53 | Est @ 2.52% | 24.64 |
| 2027 | 71.23 | Est @ 2.45% | 22.18 |
| 2028 | 72.95 | Est @ 2.41% | 19.95 |
| Present value of next 10 years cash flows | SGD330.90 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SGD72.95 × (1 + 2.3%) ÷ (13.84% – 2.3%) |
SGD646.72 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SGD646.72 ÷ (1 + 13.84%)10 |
SGD176.87 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SGD330.90 + SGD176.87 |
SGD507.78 |
| Equity Value per Share (SGD) |
= Total value / Shares Outstanding
= SGD507.78 / 400.99 |
SGD1.27 |
| Calculation | Result | |
|---|---|---|
| Value per share (SGD) | From above. | SGD1.27 |
| Current discount | Discount to share price of
SGD0.41
= -1 x (SGD0.41 - SGD1.27) / SGD1.27 |
68% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Sing Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Sing Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Sing Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Sing Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in SGD | SGD0.03 |
| SGX:5IC Share Price ** | SGX (2019-04-18) in SGD | SGD0.41 |
| Singapore Real Estate Industry PE Ratio | Median Figure of 38 Publicly-Listed Real Estate Companies | 9.52x |
| Singapore Market PE Ratio | Median Figure of 328 Publicly-Listed Companies | 13.18x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Sing Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:5IC Share Price ÷ EPS (both in SGD) = 0.41 ÷ 0.03 |
14.56x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sing Holdings is overvalued based on earnings compared to the SG Real Estate industry average.
- Sing Holdings is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does
Sing Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 14.56x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts |
9.2%per year |
| Singapore Real Estate Industry PEG Ratio | Median Figure of 14 Publicly-Listed Real Estate Companies | -0.16x |
| Singapore Market PEG Ratio | Median Figure of 119 Publicly-Listed Companies | 1.6x |
*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 Sing Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Sing Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in SGD | SGD0.64 |
| SGX:5IC Share Price * | SGX (2019-04-18) in SGD | SGD0.41 |
| Singapore Real Estate Industry PB Ratio | Median Figure of 46 Publicly-Listed Real Estate Companies | 0.59x |
| Singapore Market PB Ratio | Median Figure of 432 Publicly-Listed Companies | 0.75x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:5IC Share Price ÷ Book Value per Share (both in SGD) = 0.41 ÷ 0.64 |
0.63x |
* Primary Listing of Sing Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sing Holdings is overvalued based on assets compared to the SG Real Estate industry average.
Value checks
We assess Sing Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check) Sing 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.
5IC Future Performance
- No analysts cover Sing Holdings, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Sing Holdings's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- Sing Holdings's earnings growth is expected to exceed the Singapore market average.
- Unable to compare Sing Holdings's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SGX:5IC Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts | 9.2% |
| Singapore Real Estate Industry Earnings Growth Rate | Market Cap Weighted Average | -10.1% |
| Singapore Real Estate Industry Revenue Growth Rate | Market Cap Weighted Average | 3% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 76 | 54 | 11 |
| 2018-09-30 | 71 | 68 | 10 |
| 2018-06-30 | 61 | 57 | 6 |
| 2018-03-31 | 44 | 44 | 6 |
| 2017-12-31 | 41 | 50 | 3 |
| 2017-09-30 | 46 | -191 | 6 |
| 2017-06-30 | 56 | -188 | 8 |
| 2017-03-31 | 72 | -154 | 7 |
| 2016-12-31 | 279 | -55 | 26 |
| 2016-09-30 | 452 | 193 | 40 |
| 2016-06-30 | 475 | 216 | 41 |
| 2016-03-31 | 478 | 153 | 41 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 0 Analyst Estimates (S&P Global) | See Below |
All data from Sing Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.03 |
| 2018-09-30 | 0.03 |
| 2018-06-30 | 0.02 |
| 2018-03-31 | 0.01 |
| 2017-12-31 | 0.01 |
| 2017-09-30 | 0.01 |
| 2017-06-30 | 0.02 |
| 2017-03-31 | 0.02 |
| 2016-12-31 | 0.07 |
| 2016-09-30 | 0.10 |
| 2016-06-30 | 0.10 |
| 2016-03-31 | 0.10 |
*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 Sing Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Sing Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Sing Holdings has a total score of 2/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
5IC Past Performance
How has Sing 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
Past Earnings growth analysis
- Sing Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- Sing Holdings's 1-year earnings growth exceeds its 5-year average (237.5% vs -1.4%)
- Sing Holdings's earnings growth has exceeded the SG Real Estate industry average in the past year (237.5% vs 5.7%).
Earnings and Revenue History
All data from Sing Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 76.22 | 11.15 | 5.64 | |
| 2018-09-30 | 71.40 | 10.05 | 5.99 | |
| 2018-06-30 | 60.69 | 6.37 | 5.38 | |
| 2018-03-31 | 44.07 | 5.52 | 4.57 | |
| 2017-12-31 | 41.25 | 3.31 | 4.90 | |
| 2017-09-30 | 46.41 | 5.50 | 4.89 | |
| 2017-06-30 | 55.70 | 7.94 | 5.27 | |
| 2017-03-31 | 72.37 | 7.08 | 5.83 | |
| 2016-12-31 | 279.50 | 26.27 | 7.84 | |
| 2016-09-30 | 451.86 | 39.64 | 8.71 | |
| 2016-06-30 | 474.80 | 41.05 | 9.73 | |
| 2016-03-31 | 477.72 | 41.28 | 11.92 | |
| 2015-12-31 | 263.57 | 20.32 | 11.12 | |
| 2015-09-30 | 77.21 | 3.77 | 11.45 | |
| 2015-06-30 | 57.10 | 1.32 | 12.34 | |
| 2015-03-31 | 36.12 | -0.60 | 10.52 | |
| 2014-12-31 | 35.75 | 0.04 | 10.14 | |
| 2014-09-30 | 26.16 | -0.21 | 9.24 | |
| 2014-06-30 | 42.06 | 2.87 | 8.16 | |
| 2014-03-31 | 126.97 | 12.73 | 10.45 | |
| 2013-12-31 | 226.82 | 28.85 | 8.70 | |
| 2013-09-30 | 330.18 | 43.20 | 11.92 | |
| 2013-06-30 | 372.43 | 50.51 | 10.65 | |
| 2013-03-31 | 347.19 | 49.82 | 7.29 | |
| 2012-12-31 | 290.50 | 41.14 | 7.28 | |
| 2012-09-30 | 234.49 | 35.21 | 5.20 | |
| 2012-06-30 | 206.43 | 31.18 | 5.39 |
*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.
- Sing Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Sing Holdings used its assets less efficiently than the SG Real Estate industry average last year based on Return on Assets.
- Sing Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Sing Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Sing 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.
5IC Health
How is Sing 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 Sing Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- Sing Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Sing Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.9x 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.
All data from Sing Holdings Company Filings, last reported 3 months ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 264.29 | 231.16 | 93.24 |
| 2018-09-30 | 264.50 | 263.92 | 125.16 |
| 2018-06-30 | 262.73 | 276.39 | 124.70 |
| 2018-03-31 | 261.94 | 292.87 | 125.87 |
| 2017-12-31 | 259.85 | 304.30 | 112.99 |
| 2017-09-30 | 259.33 | 320.85 | 111.89 |
| 2017-06-30 | 260.00 | 321.10 | 63.43 |
| 2017-03-31 | 263.76 | 342.14 | 83.10 |
| 2016-12-31 | 264.65 | 226.50 | 56.07 |
| 2016-09-30 | 266.90 | 2.83 | 68.56 |
| 2016-06-30 | 265.31 | 6.40 | 70.54 |
| 2016-03-31 | 273.41 | 9.36 | 43.11 |
| 2015-12-31 | 245.38 | 125.70 | 31.58 |
| 2015-09-30 | 223.13 | 144.36 | 27.35 |
| 2015-06-30 | 220.94 | 205.67 | 85.05 |
| 2015-03-31 | 223.24 | 207.70 | 94.39 |
| 2014-12-31 | 224.43 | 207.65 | 86.51 |
| 2014-09-30 | 225.18 | 207.60 | 57.55 |
| 2014-06-30 | 238.64 | 220.01 | 39.51 |
| 2014-03-31 | 252.81 | 238.55 | 39.22 |
| 2013-12-31 | 253.27 | 248.26 | 26.96 |
| 2013-09-30 | 267.50 | 355.32 | 100.77 |
| 2013-06-30 | 262.62 | 405.52 | 6.86 |
| 2013-03-31 | 254.00 | 470.09 | 51.98 |
| 2012-12-31 | 231.22 | 337.85 | 58.18 |
| 2012-09-30 | 212.15 | 340.78 | 60.12 |
| 2012-06-30 | 197.46 | 350.81 | 63.99 |
- Sing Holdings's level of debt (87.5%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (98% vs 87.5% today).
- Debt is well covered by operating cash flow (23.2%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 3.8x coverage).
Financial health checks
We assess Sing Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Sing Holdings has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
5IC Dividends
What is Sing 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
If you bought
SGD2,000 of
Sing Holdings
shares you are expected to receive
SGD59
in your first year as a dividend.
Dividend Amount
- Sing Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).
- Sing Holdings's dividend is below the markets top 25% of dividend payers in Singapore (5.43%).
Upcoming dividend payment
Purchase Sing Holdings before the 'Buy Limit' to receive their next dividend payment.
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.
| 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 |
| Singapore Real Estate Industry Average Dividend Yield | Market Cap Weighted Average of 34 Stocks | 3% |
| Singapore Market Average Dividend Yield | Market Cap Weighted Average of 278 Stocks | 3.9% |
| 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 | 5.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-01 | 0.012 | 2.977 |
| 2018-04-02 | 0.010 | 2.473 |
| 2017-03-28 | 0.014 | 3.404 |
| 2016-03-24 | 0.010 | 3.130 |
| 2015-03-26 | 0.010 | 3.228 |
| 2014-04-01 | 0.015 | 4.335 |
| 2013-03-20 | 0.010 | 2.370 |
| 2012-04-04 | 0.010 | 2.726 |
| 2012-02-27 | 0.010 | 3.061 |
| 2011-03-25 | 0.008 | 2.473 |
| 2010-03-26 | 0.007 | 2.079 |
| 2009-11-11 | 0.000 | 0.000 |
| 2009-08-13 | 0.000 | 0.000 |
| 2009-05-12 | 0.000 | 0.000 |
| 2009-04-21 | 0.000 | 0.000 |
| 2009-04-20 | 0.000 | 0.000 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Sing Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but Sing Holdings only paid a dividend in the past 9 years.
Income/ dividend checks
We assess Sing Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Sing Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Sing 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.
5IC Management
CEO
| COMPENSATION | SGD709,000 |
| AGE | 55 |
| TENURE AS CEO | 10.1 years |
CEO Bio
Mr. Sze Hao Lee has been the Chief Executive Officer of Sing Holdings Limited since 2009. Mr. Lee has been Managing Director of Sing Holdings Ltd. since March 1, 2001. He has more than seven years of experience in real estate lending during his previous employment with Sing Investments & Finance Limited, where he served as a Senior Manager. He has been an Executive Director of Sing Development (Private) Limited, a subsidiary of Sing Holdings Ltd., since November 16, 1992. He has been a Director of Sing Holdings Ltd., since 1992. He serves as a Director of the various subsidiaries of Sing Holdings Ltd. Mr. Lee holds a Bachelor of Science in Business degree from Indiana University, Bloomington, United States of America.
CEO Compensation
- Sze Hao's compensation has been consistent with company performance over the past year.
- Sze Hao's remuneration is higher than average for companies of similar size in Singapore.
Management Team Tenure
Average tenure and age of the Sing Holdings management team in years:
- The average tenure for the Sing Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Sze Hao Lee
CEO, MD & Executive Director
SGD709K
55
10.1 yrs
Puay Kuan Tay
Chief Financial Officer
49
10.1 yrs
Casey Teo
Director of Business Development & Marketing
49
5 yrs
Mui Sang Tan
Company Secretary
Board of Directors Tenure
Average tenure and age of the Sing Holdings board of directors in years:
- The tenure for the Sing Holdings board of directors is about average.
Board of Directors
Sze Leong Lee
Non-Executive Chairman
SGD163K
59
4 yrs
Sze Hao Lee
CEO, MD & Executive Director
SGD709K
55
27.3 yrs
David Ong
Independent Director
SGD58K
62
7.9 yrs
Tong Guan Tan
Non Executive Independent Director
SGD58K
55
3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SGD) | Value (SGD) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 13. Dec 18 | Buy | Sze Hao Lee | Individual | 13. Dec 18 | 13. Dec 18 | 50,000 | SGD0.39 | SGD19,250 | ||
| 07. Dec 18 | Buy | Sze Hao Lee | Individual | 05. Dec 18 | 07. Dec 18 | 153,300 | SGD0.39 | SGD59,863 | ||
| 22. Nov 18 | Buy | Sze Hao Lee | Individual | 20. Nov 18 | 22. Nov 18 | 361,000 | SGD0.38 | SGD138,984 | ||
| 15. Oct 18 | Buy | Tan Gee Beng Private Limited | Company | 11. Oct 18 | 11. Oct 18 | 500,000 | SGD0.38 | SGD192,500 | ||
| 26. Sep 18 | Buy | Tan Gee Beng Private Limited | Company | 24. Sep 18 | 24. Sep 18 | 500,000 | SGD0.39 | SGD195,000 | ||
| 20. Sep 18 | Buy | Tan Gee Beng Private Limited | Company | 18. Sep 18 | 18. Sep 18 | 300,000 | SGD0.39 | SGD117,000 | ||
| 20. Sep 18 | Buy | Cosmos Investment Pte Ltd | Company | 18. Sep 18 | 18. Sep 18 | 150,000 | SGD0.39 | SGD58,500 | ||
| 07. Sep 18 | Buy | Sze Hao Lee | Individual | 05. Sep 18 | 05. Sep 18 | 150,000 | SGD0.07 | SGD10,259 | ||
| 30. Aug 18 | Buy | Sze Hao Lee | Individual | 28. Aug 18 | 30. Aug 18 | 46,700 | SGD0.39 | SGD18,336 | ||
| 10. Aug 18 | Buy | Sze Hao Lee | Individual | 07. Aug 18 | 10. Aug 18 | 380,600 | SGD0.40 | SGD152,484 | ||
| 19. Jul 18 | Buy | Sze Hao Lee | Individual | 17. Jul 18 | 18. Jul 18 | 183,400 | SGD0.39 | SGD71,694 | ||
| 16. Jul 18 | Buy | Tan Gee Beng Private Limited | Company | 12. Jul 18 | 13. Jul 18 | 360,000 | SGD0.40 | SGD142,382 | ||
| 22. Jun 18 | Buy | Sze Hao Lee | Individual | 20. Jun 18 | 20. Jun 18 | 119,000 | SGD0.42 | SGD49,980 | ||
| 18. Jun 18 | Buy | Sze Hao Lee | Individual | 13. Jun 18 | 18. Jun 18 | 183,300 | SGD0.43 | SGD78,240 | ||
| 12. Jun 18 | Buy | Sze Leong Lee | Individual | 12. Jun 18 | 12. Jun 18 | 67,000 | SGD0.43 | SGD28,810 | ||
| 12. Jun 18 | Buy | Sze Hao Lee | Individual | 08. Jun 18 | 08. Jun 18 | 35,000 | SGD0.43 | SGD14,962 | ||
| 07. Jun 18 | Buy | Sze Hao Lee | Individual | 05. Jun 18 | 07. Jun 18 | 169,100 | SGD0.43 | SGD72,626 | ||
| 04. Jun 18 | Buy | Sze Hao Lee | Individual | 31. May 18 | 31. May 18 | 275,000 | SGD0.43 | SGD118,250 | ||
Management checks
We assess Sing Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Sing 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.
5IC News
Simply Wall St News
Is Sing Holdings Limited's (SGX:5IC) CEO Pay Justified?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Sze Lee's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Sing Holdings Limited has a market cap of S$156m, and is paying total annual CEO compensation of S$709k.
Simply Wall St - – Full articleUpdate: Sing Holdings Stock Gained 21% In The Last Three Years
For example, Sing Holdings Limited (SGX:5IC) shareholders have seen the share price rise 21% over three years, well in excess of the market return (9.6%, not including dividends). … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … During the three years of share price growth, Sing Holdings actually saw its earnings per share (EPS) drop 12% per year.
Simply Wall St - – Full articleWhat Investors Should Know About Sing Holdings Limited's (SGX:5IC) Financial Strength
Investors are always looking for growth in small-cap stocks like Sing Holdings Limited (SGX:5IC), with a market cap of S$156m. … However, an important fact which most ignore is: how financially healthy is the business?
Simply Wall St - – Full articleNeed To Know: Sing Holdings Limited (SGX:5IC) Insiders Have Been Buying Shares
We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in Sing Holdings Limited (SGX:5IC). … We generally consider it a positive if insiders have been buying on market, even above the current price.
Simply Wall St - – Full articleWhat Percentage Of Sing Holdings Limited (SGX:5IC) Shares Do Insiders Own?
A look at the shareholders of Sing Holdings Limited (SGX:5IC) can tell us which group is most powerful. … With a market capitalization of S$156m, Sing Holdings is a small cap stock, so it might not be well known by many institutional investors. … Check out our latest analysis for Sing Holdings
Simply Wall St - – Full articleHow Should Investors Feel About Sing Holdings Limited's (SGX:5IC) CEO Pay?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … According to our data, Sing Holdings Limited has a market capitalization of S$156m, and pays its CEO total annual compensation worth S$709k. … We examined a group of similar sized companies, with market capitalizations of below S$274m
Simply Wall St - – Full articleWhat does Sing Holdings Limited's (SGX:5IC) Balance Sheet Tell Us About Its Future?
While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … Here are few basic financial health checks you should consider before taking the plunge.
Simply Wall St - – Full articleWhat You Must Know About Sing Holdings Limited's (SGX:5IC) Major Investors
In this article, I will take a quick look at Sing Holdings Limited’s (SGX:5IC) recent ownership structure – an unconventional investing subject, but an important one. … The impact of a company's ownership structure affects both its short- and long-term performance. … SGX:5IC Ownership Summary August 15th 18
Simply Wall St - – Full articleSing Holdings Limited (SGX:5IC): Time For A Financial Health Check
While small-cap stocks, such as Sing Holdings Limited (SGX:5IC) with its market cap of S$158.39m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.
Simply Wall St - – Full articleShould You Be Tempted To Sell Sing Holdings Limited (SGX:5IC) At Its Current PE Ratio?
and want to begin learning the link between Sing Holdings Limited (SGX:5IC)’s fundamentals and stock market performance. … Sing Holdings Limited (SGX:5IC) is currently trading at a trailing P/E of 30.9x, which is higher than the industry average of 9.5x. … While 5IC might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions
Simply Wall St - – Full article5IC Company Info
Description
Sing Holdings Limited, an investment holding company, engages in the property development and investment activities in Singapore and Australia. It operates through two segments, Property Development and Property Investment. The company develops and sells residential, commercial, and industrial properties; and owns and leases investment properties. Its property portfolio includes landed houses, condominiums, and commercial and industrial buildings. The company also owns Travelodge Docklands, a limited service hotel that consists of 291 rooms located in Melbourne. Sing Holdings Limited was founded in 1964 and is based in Singapore.
Details
| Name: | Sing Holdings Limited |
| 5IC | |
| Exchange: | SGX |
| Founded: | 1964 |
| SGD162,402,834 | |
| 400,994,652 | |
| Website: | http://www.singholdings.com |
| Address: |
Sing Holdings Limited No. 10-01 SIF Building, 96 Robinson Road, Singapore, 068899, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | 5IC | Ordinary Shares | Singapore Exchange | SG | SGD | 26. Apr 2006 |
Number of employees
Current staff
Industry
| Real Estate Development | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/19 12:42 |
| End of day share price update: | 2019/04/18 00:00 |
| Last earnings filing: | 2019/04/04 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
