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Hiap Hoe

SGX:5JK
Snowflake Description

Moderate growth potential and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
5JK
SGX
SGD395M
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

Hiap Hoe Limited, an investment holding company, develops luxury and mid-tier residential, and hotel-cum-commercial properties in Australia and Singapore. The last earnings update was 17 days ago. More info.


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5JK Share Price and Events
7 Day Returns
-0.6%
SGX:5JK
-1.1%
SG Real Estate
0.3%
SG Market
1 Year Returns
-2.3%
SGX:5JK
-8%
SG Real Estate
-6.4%
SG Market
5JK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hiap Hoe (5JK) -0.6% -1.2% -2.3% -2.3% 23% -6%
SG Real Estate -1.1% 1.6% 5.6% -8% 5.7% -5.1%
SG Market 0.3% 3% 4.7% -6.4% 10.1% -2%
1 Year Return vs Industry and Market
  • 5JK outperformed the Real Estate industry which returned -8% over the past year.
  • 5JK outperformed the Market in Singapore which returned -6.4% over the past year.
Price Volatility
5JK
Industry
5yr Volatility vs Market

Value

 Is Hiap Hoe 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 Hiap Hoe 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 Hiap Hoe.

SGX:5JK 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 14.2%
Perpetual Growth Rate 10-Year SG Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SGX:5JK
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))
= 1.102 (1 + (1- 17%) (173.23%))
2.131
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (2 * 5.96%)
14.22%

Discounted Cash Flow Calculation for SGX:5JK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hiap Hoe 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:5JK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 14.22%)
2019 30.93 Est @ -42.23% 27.08
2020 22.00 Est @ -28.87% 16.86
2021 17.71 Est @ -19.52% 11.88
2022 15.41 Est @ -12.97% 9.05
2023 14.12 Est @ -8.39% 7.26
2024 13.38 Est @ -5.18% 6.03
2025 12.99 Est @ -2.94% 5.12
2026 12.81 Est @ -1.36% 4.42
2027 12.78 Est @ -0.26% 3.86
2028 12.85 Est @ 0.51% 3.40
Present value of next 10 years cash flows SGD94.97
SGX:5JK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD12.85 × (1 + 2.3%) ÷ (14.22% – 2.3%)
SGD110.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD110.24 ÷ (1 + 14.22%)10
SGD29.16
SGX:5JK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD94.97 + SGD29.16
SGD124.13
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD124.13 / 470.56
SGD0.26
SGX:5JK Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.26
Current discount Discount to share price of SGD0.86
= -1 x (SGD0.86 - SGD0.26) / SGD0.26
-224.1%

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

  • The current share price of Hiap Hoe is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Hiap Hoe's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hiap Hoe's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:5JK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SGD SGD-0.02
SGX:5JK Share Price ** SGX (2019-04-24) in SGD SGD0.86
Singapore Real Estate Industry PE Ratio Median Figure of 38 Publicly-Listed Real Estate Companies 9.35x
Singapore Market PE Ratio Median Figure of 328 Publicly-Listed Companies 13.16x

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

** Primary Listing of Hiap Hoe.

SGX:5JK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:5JK Share Price ÷ EPS (both in SGD)

= 0.86 ÷ -0.02

-40.54x

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

  • Hiap Hoe is loss making, we can't compare its value to the SG Real Estate industry average.
  • Hiap Hoe is loss making, we can't compare the value of its earnings to the Singapore market.
Price based on expected Growth
Does Hiap Hoe's expected growth come at a high price?
Raw Data
SGX:5JK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -40.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
23%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 120 Publicly-Listed Companies 1.58x

*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 Hiap Hoe, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hiap Hoe's assets?
Raw Data
SGX:5JK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SGD SGD1.61
SGX:5JK Share Price * SGX (2019-04-24) in SGD SGD0.86
Singapore Real Estate Industry PB Ratio Median Figure of 46 Publicly-Listed Real Estate Companies 0.57x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.75x
SGX:5JK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:5JK Share Price ÷ Book Value per Share (both in SGD)

= 0.86 ÷ 1.61

0.53x

* Primary Listing of Hiap Hoe.

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

  • Hiap Hoe is good value based on assets compared to the SG Real Estate industry average.
X
Value checks
We assess Hiap Hoe'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. Hiap Hoe has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

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

  • No analysts cover Hiap Hoe, 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
23%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hiap Hoe expected to grow at an attractive rate?
  • Hiap Hoe's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Hiap Hoe's earnings growth is expected to exceed the Singapore market average.
  • Unable to compare Hiap Hoe's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:5JK Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:5JK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 23%
Singapore Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -10.2%
Singapore Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.8%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:5JK 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:5JK Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SGX:5JK Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2018-12-31 187 73 -10
2018-09-30 330 232 71
2018-06-30 314 211 75
2018-03-31 273 154 72
2017-12-31 249 126 80
2017-09-30 94 -66 41
2017-06-30 88 -81 50
2017-03-31 88 -76 46
2016-12-31 83 -71 45
2016-09-30 88 -12 23
2016-06-30 107 7 6
2016-03-31 106 2 6

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Hiap Hoe's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Hiap Hoe 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:5JK 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 Hiap Hoe Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:5JK Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SGX:5JK Past Financials Data
Date (Data in SGD Millions) EPS *
2018-12-31 -0.02
2018-09-30 0.15
2018-06-30 0.16
2018-03-31 0.15
2017-12-31 0.17
2017-09-30 0.09
2017-06-30 0.11
2017-03-31 0.10
2016-12-31 0.10
2016-09-30 0.05
2016-06-30 0.01
2016-03-31 0.01

*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 Hiap Hoe will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Hiap Hoe'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.
Hiap Hoe has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Hiap Hoe 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 Hiap Hoe'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.
  • Hiap Hoe does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Hiap Hoe's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Hiap Hoe's 1-year growth to the SG Real Estate industry average as it is not currently profitable.
Earnings and Revenue History
Hiap Hoe'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 Hiap Hoe Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:5JK Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 187.48 -9.93 31.25
2018-09-30 330.31 71.35 31.34
2018-06-30 314.03 74.69 29.15
2018-03-31 273.07 72.05 30.51
2017-12-31 249.13 80.47 29.65
2017-09-30 93.54 40.66 28.46
2017-06-30 87.56 50.42 27.69
2017-03-31 88.30 45.88 25.78
2016-12-31 82.73 45.44 25.01
2016-09-30 88.30 23.11 26.63
2016-06-30 106.79 6.40 28.43
2016-03-31 106.33 5.85 27.73
2015-12-31 107.78 -6.87 26.80
2015-09-30 102.45 -40.68 45.00
2015-06-30 122.09 -37.12 68.77
2015-03-31 126.41 -39.05 83.67
2014-12-31 136.42 321.28 87.24
2014-09-30 166.07 356.42 74.38
2014-06-30 189.16 389.11 47.88
2014-03-31 241.64 424.02 30.97
2013-12-31 240.80 79.95 24.45
2013-09-30 216.17 86.59 11.25
2013-06-30 175.90 66.64 9.34
2013-03-31 138.55 53.97 6.98
2012-12-31 145.67 57.87 5.88
2012-09-30 159.30 57.09 4.71
2012-06-30 159.15 59.99 4.63

*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.
  • It is difficult to establish if Hiap Hoe has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Hiap Hoe has efficiently used its assets last year compared to the SG Real Estate industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Hiap Hoe improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Hiap Hoe'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.
Hiap Hoe has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Hiap Hoe'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 Hiap Hoe's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hiap Hoe's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Hiap Hoe's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Hiap Hoe'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 not covered by short term assets, assets are 0.5x 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 Hiap Hoe Company Filings, last reported 3 months ago.

SGX:5JK Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 761.66 684.73 310.05
2018-09-30 778.28 689.36 333.88
2018-06-30 782.74 672.67 333.04
2018-03-31 782.92 585.90 214.24
2017-12-31 790.97 566.54 188.05
2017-09-30 726.86 515.53 128.77
2017-06-30 724.69 492.46 122.42
2017-03-31 729.26 421.12 120.76
2016-12-31 718.81 399.63 119.96
2016-09-30 690.93 452.91 109.03
2016-06-30 671.79 446.38 79.00
2016-03-31 684.13 419.87 63.73
2015-12-31 676.73 517.55 65.84
2015-09-30 668.91 526.07 59.70
2015-06-30 675.01 519.49 65.67
2015-03-31 684.39 562.59 136.18
2014-12-31 689.16 580.31 67.63
2014-09-30 720.91 809.66 110.16
2014-06-30 727.96 805.71 108.03
2014-03-31 732.38 731.14 139.44
2013-12-31 372.87 374.83 140.57
2013-09-30 369.07 207.28 54.81
2013-06-30 341.77 144.80 28.55
2013-03-31 315.10 166.49 26.44
2012-12-31 305.32 213.69 25.22
2012-09-30 291.79 266.60 8.55
2012-06-30 278.49 267.08 24.21
  • Hiap Hoe's level of debt (89.9%) 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 (100.5% vs 89.9% today).
  • Debt is not well covered by operating cash flow (10.6%, less than 20% of total debt).
  • Hiap Hoe is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Hiap Hoe'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. Hiap Hoe has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Hiap Hoe'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
1.75%
Current annual income from Hiap Hoe dividends.
If you bought SGD2,000 of Hiap Hoe shares you are expected to receive SGD35 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?
  • Hiap Hoe's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.51%).
  • Hiap Hoe's dividend is below the markets top 25% of dividend payers in Singapore (5.47%).
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:5JK 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 3.1%
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 5.5%

Industry and Market average data is calculated daily.

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

SGX:5JK Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
SGX:5JK Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-08 0.015 1.762
2019-02-28 0.015 1.742
2018-08-13 0.015 1.724
2018-04-10 0.020 2.256
2017-11-10 0.010 1.113
2017-08-10 0.010 1.233
2017-04-11 0.010 1.414
2016-05-03 0.010 1.403
2015-04-29 0.010 1.385
2014-11-06 0.000 0.000
2014-08-11 0.000 0.000
2014-02-21 0.020 2.209
2013-11-04 0.024 2.980
2013-08-05 0.024 3.269
2013-02-18 0.010 1.478
2012-11-12 0.010 1.583
2012-08-08 0.010 1.669
2012-02-15 0.005 0.969
2011-11-09 0.005 1.148
2011-08-10 0.005 1.199
2011-04-04 0.005 1.098
2011-02-21 0.005 1.203
2010-11-09 0.005 1.156
2010-08-13 0.005 1.188
2010-04-07 0.002 0.462
2010-02-11 0.002 0.408

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

  • Hiap Hoe 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 Hiap Hoe only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Hiap Hoe's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 Hiap Hoe'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 Hiap Hoe afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hiap Hoe has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Hiap Hoe'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
Ho Teo
COMPENSATION SGD517,512
AGE 63
TENURE AS CEO 13.3 years
CEO Bio

Mr. Ho Beng Teo has been the Director, Chief Executive Officer at Hiap Hoe Limited since January 16, 2006 and had been its Executive Chairman from May 11, 2012 to 11 May 2017. Mr. Teo serves as an Executive Chairman and Executive Director of Superbowl Holdings Limited. He has been Managing Director of Superbowl Holdings Limited since May 3, 1994, and has been its Chief Executive Officer since March 1, 2012. He served as Managing Director at Hiap Hoe Ltd. since January 16, 2003 until May 11, 2012. He served as an Executive Director of Xpress Holdings Ltd. from December 5, 2001 to November 25, 2004. He served as Managing Director and Director of Chew Eu Hock Holdings Ltd. since January 16, 2003. He was responsible for the formulation of corporate strategies and policies for the Chew Eu Hock and managed its overseas operations. He served as a Director of Groups Business Development of Xpress Holdings Ltd. Mr. Teo has 30 years of experience in the construction and property industries and over 15 years of experience in the leisure industry. He has been Non-Executive Director of Ley Choon Group Holdings Limited since September 28, 2015. He has been Director of Hiap Hoe Limited since January 16, 2003. He serves as a Director of Cantonment Development Pte. Ltd. and HH Properties Pte. Ltd. Mr. Teo has been a Director of Hiap Hoe Holdings Pte Ltd., since 1983. He also serves as a Member of the Singapore Institute of Directors.

CEO Compensation
  • Insufficient data for Ho to compare compensation growth.
  • Insufficient data for Ho to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the Hiap Hoe management team in years:

3.5
Average Tenure
47
Average Age
  • The tenure for the Hiap Hoe management team is about average.
Management Team

Ho Teo

TITLE
CEO & Director
COMPENSATION
SGD518K
AGE
63
TENURE
13.3 yrs

Roland Teo

TITLE
MD & Director
COMPENSATION
SGD224K
AGE
54
TENURE
6.9 yrs

Irene Cheah

TITLE
Financial Controller
AGE
44
TENURE
3.8 yrs

Agnes Teo

TITLE
Head of HR & Admin
AGE
47

Marc Teo

TITLE
Head of Project Management & Contracts and Executive Director
AGE
32
TENURE
2.3 yrs

Andrew Teo

TITLE
Executive Director of Subsidiaries

Beng Hong Ong

TITLE
Joint Company Secretary
TENURE
3.2 yrs

Swee Tan

TITLE
Joint Company Secretary
TENURE
3.2 yrs

Josephine Teo

TITLE
Executive Officer

Jocelyn Teo

TITLE
Executive Officer
Board of Directors Tenure

Average tenure and age of the Hiap Hoe board of directors in years:

4
Average Tenure
52
Average Age
  • The tenure for the Hiap Hoe board of directors is about average.
Board of Directors

Ronald Lim

TITLE
Independent Non-Executive Chairman of the Board
AGE
71
TENURE
1.9 yrs

Ho Teo

TITLE
CEO & Director
COMPENSATION
SGD518K
AGE
63
TENURE
16.3 yrs

Roland Teo

TITLE
MD & Director
COMPENSATION
SGD224K
AGE
54
TENURE
16.3 yrs

Marc Teo

TITLE
Head of Project Management & Contracts and Executive Director
AGE
32
TENURE
1.9 yrs

Boon Chan

TITLE
Lead Independent & Non-Executive Director
COMPENSATION
SGD32K
AGE
50
TENURE
3.9 yrs

Leslie Koh

TITLE
Non-Executive Independent Director
AGE
49
TENURE
4 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)
28. Aug 18 Buy Ho Teo Individual 27. Aug 18 27. Aug 18 62,100 SGD0.88 SGD54,648
01. Jun 18 Buy Ho Teo Individual 01. Jun 18 01. Jun 18 1,800,000 SGD0.87 SGD1,566,000
26. Apr 18 Buy Ho Teo Individual 26. Apr 18 26. Apr 18 800,000 SGD0.87 SGD695,999
X
Management checks
We assess Hiap Hoe'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. Hiap Hoe has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Are Insiders Buying Hiap Hoe Limited (SGX:5JK) Stock?

That means that an insider was happy to buy shares at above the current price of S$0.83. … In our view, the price an insider pays for shares is very important … As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price

Simply Wall St -

If You Had Bought Hiap Hoe (SGX:5JK) Shares Three Years Ago You'd Have Made 32%

Hiap Hoe isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … In the last 3 years Hiap Hoe saw its revenue grow at 45% per year. … While the compound gain of 9.8% per year over three years is pretty good, you might argue it doesn't fully reflect the strong revenue growth.

Simply Wall St -

Read This Before You Buy Hiap Hoe Limited (SGX:5JK) Because Of Its P/E Ratio

We'll look at Hiap Hoe Limited's (SGX:5JK) P/E ratio and reflect on what it tells us about the company's share price. … Hiap Hoe has a price to earnings ratio of 5.7, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Read This Before Selling Hiap Hoe Limited (SGX:5JK) Shares

So before you buy or sell Hiap Hoe Limited (SGX:5JK), you may well want to know whether insiders have been buying or selling. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In any event it's generally a positive if insiders are buying shares at around the current price

Simply Wall St -

What You Must Know About Hiap Hoe Limited's (SGX:5JK) Financial Strength

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. … 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 -

How Did Hiap Hoe Limited's (SGX:5JK) 9.20% ROE Fare Against The Industry?

The content of this article will benefit those of you who are starting to educate yourself about investing in the stock market. … and want to begin learning the link between company’s fundamentals and stock market performance. … Sustainability can be gauged by a company’s financial leverage – the more debt it has, the higher ROE is pumped up in the short term, at the expense of long term interest payment burden.

Simply Wall St -

Was Hiap Hoe Limited's (SGX:5JK) Earnings Growth Better Than The Industry's?

Below, I will examine Hiap Hoe Limited's (SGX:5JK) track record on a high level, to give you some insight into how the company has been performing against its long term trend and its industry peers. … Were 5JK's earnings stronger than its past performances and the industry. … 5JK's trailing twelve-month earnings (from 31 March 2018) of S$72.05m has

Simply Wall St -

Company Info

Description

Hiap Hoe Limited, an investment holding company, develops luxury and mid-tier residential, and hotel-cum-commercial properties in Australia and Singapore. The company's Development Properties segment acquires land/property and develops them into residential/industrial/commercial properties for sales. Its Rental segment engages in the business of renting space under the investment properties, property plant and equipment, and completed properties. The company's Leisure segment provides leisure and recreational facilities, including bowling, billiard, and amusement centers under the SuperBowl and SuperFunworld brands. Its Hotel Operations segment operates hotels under the Ramada Singapore, Days Hotel Singapore, Holiday Inn Express Trafford City, and Four Points by Sheraton Melbourne brands. The company invests in marketable securities. It also involved in the civil engineering, general road construction, and sub-contractor works. The company was incorporated in 1994 and is based in Singapore. Hiap Hoe Limited is a subsidiary of Hiap Hoe Holdings Pte Ltd.

Details
Name: Hiap Hoe Limited
5JK
Exchange: SGX
Founded: 1994
SGD395,268,334
470,557,541
Website: http://www.hiaphoe.com
Address: Hiap Hoe Limited
Hiap Hoe Building At Zhongshan Park,
No. 13-51, 18 Ah Hood Road,
Singapore,
329983,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX 5JK Ordinary Shares Singapore Exchange SG SGD 17. Jan 2003
Number of employees
Current staff
Staff numbers
0
Hiap Hoe employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 12:43
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2018/04/10
Last earnings filing: 2019/04/07
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.