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Sing Holdings

SGX:5IC
Snowflake Description

Excellent balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
5IC
SGX
SGD162M
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

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
0%
SGX:5IC
0.2%
SG Real Estate
0.3%
SG Market
1 Year Returns
-8%
SGX:5IC
-7.5%
SG Real Estate
-6.7%
SG Market
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.
Price Volatility
5IC
Industry
5yr Volatility vs Market

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.
Raw Data

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

SGX:5IC Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for SGX:5IC
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.

SGX:5IC DCF 1st Stage: Next 10 year cash flow forecast
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
SGX:5IC DCF 2nd Stage: Terminal Value
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
SGX:5IC Total Equity Value
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
SGX:5IC Discount to Share Price
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
Amount off the current price Sing Holdings is available for.
Intrinsic value
>50%
Share price is SGD0.41 vs Future cash flow value of SGD1.27
Current Discount Checks
For Sing Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
SGX:5IC PE (Price to Earnings) Ratio Data Sources
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.

SGX:5IC PE (Price to Earnings) Ratio Calculation
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?
Raw Data
SGX:5IC PEG (Price to Earnings to Growth) Ratio Data Sources
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?
Raw Data
SGX:5IC PB (Price to Book) Ratio Data Sources
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
SGX:5IC PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess Sing 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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check)
  5. 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

 How is Sing Holdings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • 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!
Annual Growth Rate
9.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sing Holdings expected to grow at an attractive rate?
  • 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
Raw Data
SGX:5IC Future Growth Rates Data Sources
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
Raw Data
SGX:5IC Analysts Growth Expectations Data Sources
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 numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:5IC Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Sing Holdings's earnings are expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Sing 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:5IC 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.

SGX:5IC Past Financials Data
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.
X
Future performance checks
We assess Sing 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 Singapore market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore 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.
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
Below we compare Sing Holdings's growth in the last year to its industry (Real Estate).
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.
  • 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
Sing 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 Sing Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:5IC Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess Sing 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 Real Estate 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.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Sing 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.
  • 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.
Raw Data

All data from Sing Holdings Company Filings, last reported 3 months ago.

SGX:5IC Past Debt and Equity Data
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).
X
Financial health checks
We assess Sing 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. Sing Holdings has a total score of 5/6, 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.

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
Dividend payments
2.96%
Current annual income from Sing Holdings dividends.
If you bought SGD2,000 of Sing Holdings shares you are expected to receive SGD59 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?
  • 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.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:5IC 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
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.

SGX:5IC Past Annualized Dividends Data
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.
Current Payout to shareholders
What portion of Sing Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x 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 Sing 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 Sing Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. 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

 What is the CEO of Sing 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
Sze Hao Lee
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:

10.1
Average Tenure
49
Average Age
  • 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

TITLE
CEO, MD & Executive Director
COMPENSATION
SGD709K
AGE
55
TENURE
10.1 yrs

Puay Kuan Tay

TITLE
Chief Financial Officer
AGE
49
TENURE
10.1 yrs

Casey Teo

TITLE
Director of Business Development & Marketing
AGE
49
TENURE
5 yrs

Mui Sang Tan

TITLE
Company Secretary
Board of Directors Tenure

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

6
Average Tenure
57
Average Age
  • The tenure for the Sing Holdings board of directors is about average.
Board of Directors

Sze Leong Lee

TITLE
Non-Executive Chairman
COMPENSATION
SGD163K
AGE
59
TENURE
4 yrs

Sze Hao Lee

TITLE
CEO, MD & Executive Director
COMPENSATION
SGD709K
AGE
55
TENURE
27.3 yrs

David Ong

TITLE
Independent Director
COMPENSATION
SGD58K
AGE
62
TENURE
7.9 yrs

Tong Guan Tan

TITLE
Non Executive Independent Director
COMPENSATION
SGD58K
AGE
55
TENURE
3 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)
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
X
Management checks
We assess Sing 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. 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 -

Update: 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 -

What 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 -

Need 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 -

What 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 -

How 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 -

What 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 -

What 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 -

Sing 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 -

Should 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 -

5IC 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
Staff numbers
0
Sing Holdings employees.
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.