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Sinarmas Land

SGX:A26
Snowflake Description

Undervalued with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
A26
SGX
SGD1B
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

Sinarmas Land Limited, an investment holding company, engages in the property business in Indonesia, China, Malaysia, Singapore, and United Kingdom. The last earnings update was 23 days ago. More info.


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A26 Share Price and Events
7 Day Returns
-3.7%
SGX:A26
-1.1%
SG Real Estate
0.2%
SG Market
1 Year Returns
-28.8%
SGX:A26
-7.6%
SG Real Estate
-5.7%
SG Market
A26 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sinarmas Land (A26) -3.7% 6.1% 4% -28.8% -45.3% -50.9%
SG Real Estate -1.1% 3.5% 5.6% -7.6% 5.9% -5%
SG Market 0.2% 4.1% 4.4% -5.7% 10.8% -2.6%
1 Year Return vs Industry and Market
  • A26 underperformed the Real Estate industry which returned -7.6% over the past year.
  • A26 underperformed the Market in Singapore which returned -5.7% over the past year.
Price Volatility
A26
Industry
5yr Volatility vs Market

A26 Value

 Is Sinarmas Land 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 Sinarmas Land 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 Sinarmas Land.

SGX:A26 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:A26
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%) (164.23%))
2.075
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:A26 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sinarmas Land 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:A26 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 14.22%)
2019 254.42 Est @ -3.52% 222.74
2020 249.91 Est @ -1.77% 191.55
2021 248.53 Est @ -0.55% 166.77
2022 249.29 Est @ 0.31% 146.45
2023 251.55 Est @ 0.9% 129.38
2024 254.88 Est @ 1.32% 114.77
2025 259.01 Est @ 1.62% 102.10
2026 263.73 Est @ 1.82% 91.02
2027 268.92 Est @ 1.97% 81.25
2028 274.48 Est @ 2.07% 72.61
Present value of next 10 years cash flows SGD1,318.64
SGX:A26 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD274.48 × (1 + 2.3%) ÷ (14.22% – 2.3%)
SGD2,355.70
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD2,355.70 ÷ (1 + 14.22%)10
SGD623.14
SGX:A26 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD1,318.64 + SGD623.14
SGD1,941.77
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD1,941.77 / 4,255.86
SGD0.46
SGX:A26 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.46
Current discount Discount to share price of SGD0.26
= -1 x (SGD0.26 - SGD0.46) / SGD0.46
43%

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

Current Discount
Amount off the current price Sinarmas Land is available for.
Intrinsic value
43%
Share price is SGD0.26 vs Future cash flow value of SGD0.45626
Current Discount Checks
For Sinarmas Land to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sinarmas Land's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sinarmas Land'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 Sinarmas Land's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sinarmas Land's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:A26 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in SGD SGD0.03
SGX:A26 Share Price ** SGX (2019-04-25) in SGD SGD0.26
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 13.19x

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

** Primary Listing of Sinarmas Land.

SGX:A26 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:A26 Share Price ÷ EPS (both in SGD)

= 0.26 ÷ 0.03

9.3x

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

  • Sinarmas Land is good value based on earnings compared to the SG Real Estate industry average.
  • Sinarmas Land is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does Sinarmas Land's expected growth come at a high price?
Raw Data
SGX:A26 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.3x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
9.8%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 Sinarmas Land, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Sinarmas Land's assets?
Raw Data
SGX:A26 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in SGD SGD0.48
SGX:A26 Share Price * SGX (2019-04-25) in SGD SGD0.26
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 0.76x
SGX:A26 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:A26 Share Price ÷ Book Value per Share (both in SGD)

= 0.26 ÷ 0.48

0.54x

* Primary Listing of Sinarmas Land.

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

  • Sinarmas Land is good value based on assets compared to the SG Real Estate industry average.
X
Value checks
We assess Sinarmas Land'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. Sinarmas Land has a total score of 5/6, 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.

A26 Future Performance

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

  • No analysts cover Sinarmas Land, 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
9.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sinarmas Land expected to grow at an attractive rate?
  • Sinarmas Land's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Sinarmas Land's earnings growth is expected to exceed the Singapore market average.
  • Unable to compare Sinarmas Land's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:A26 Future Growth Rates Data Sources
Data Point Source Value (per year)
SGX:A26 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 9.8%
Singapore Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -10.1%
Singapore Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.9%
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:A26 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:A26 Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SGX:A26 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2018-12-31 864 279 119
2018-09-30 1,121 380 296
2018-06-30 1,120 440 301
2018-03-31 1,238 530 346
2017-12-31 1,347 615 354
2017-09-30 1,094 566 166
2017-06-30 1,037 442 167
2017-03-31 945 305 137
2016-12-31 879 326 115
2016-09-30 796 157 61
2016-06-30 841 233 90
2016-03-31 851 162 79

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sinarmas Land's earnings are expected to grow by 9.8% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Sinarmas Land 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:A26 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 Sinarmas Land Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:A26 Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SGX:A26 Past Financials Data
Date (Data in SGD Millions) EPS *
2018-12-31 0.03
2018-09-30 0.07
2018-06-30 0.07
2018-03-31 0.08
2017-12-31 0.08
2017-09-30 0.04
2017-06-30 0.04
2017-03-31 0.03
2016-12-31 0.03
2016-09-30 0.02
2016-06-30 0.02
2016-03-31 0.02

*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 Sinarmas Land will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Sinarmas Land'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.
Sinarmas Land 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.

A26 Past Performance

  How has Sinarmas Land 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 Sinarmas Land'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.
  • Sinarmas Land's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Sinarmas Land's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Sinarmas Land's 1-year earnings growth is negative, it can't be compared to the SG Real Estate industry average.
Earnings and Revenue History
Sinarmas Land'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 Sinarmas Land Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:A26 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 864.13 119.03 265.16
2018-09-30 1,120.89 296.38 281.48
2018-06-30 1,120.49 300.66 281.88
2018-03-31 1,238.10 345.95 277.95
2017-12-31 1,347.44 353.89 276.44
2017-09-30 1,094.02 166.47 265.43
2017-06-30 1,036.64 167.25 255.16
2017-03-31 944.57 137.22 249.11
2016-12-31 879.10 114.91 236.89
2016-09-30 795.82 60.64 227.46
2016-06-30 841.01 89.91 224.44
2016-03-31 851.25 79.06 225.01
2015-12-31 956.72 143.12 225.52
2015-09-30 895.70 250.69 222.21
2015-06-30 913.16 247.98 218.62
2015-03-31 874.08 273.55 212.75
2014-12-31 828.55 240.59 205.33
2014-09-30 979.61 198.07 200.29
2014-06-30 999.56 193.40 200.57
2014-03-31 994.67 247.73 197.58
2013-12-31 1,178.79 288.87 196.69
2013-09-30 1,024.12 294.05 179.26
2013-06-30 975.89 264.54 169.21
2013-03-31 931.47 194.21 158.13
2012-12-31 631.27 112.66 159.29
2012-09-30 630.62 69.35 155.64
2012-06-30 588.76 109.75 155.66

*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.
  • Sinarmas Land has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Sinarmas Land used its assets less efficiently than the SG Real Estate industry average last year based on Return on Assets.
  • Sinarmas Land's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sinarmas Land'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.
Sinarmas Land has a total score of 1/6, 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.

A26 Health

 How is Sinarmas Land'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 Sinarmas Land's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sinarmas Land is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sinarmas Land's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sinarmas Land'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 1.4x 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 Sinarmas Land Company Filings, last reported 3 months ago.

SGX:A26 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,783.31 1,852.22 1,031.16
2018-09-30 3,736.96 1,857.45 1,118.40
2018-06-30 4,064.67 1,991.11 1,276.35
2018-03-31 4,102.66 1,753.36 1,137.75
2017-12-31 4,029.60 1,524.95 952.02
2017-09-30 3,755.30 1,561.52 777.31
2017-06-30 3,714.13 1,639.74 856.88
2017-03-31 3,626.24 1,257.62 881.67
2016-12-31 3,855.30 1,358.92 880.22
2016-09-30 3,442.19 1,287.63 760.03
2016-06-30 3,289.77 1,446.19 851.67
2016-03-31 3,201.29 1,376.37 865.23
2015-12-31 3,330.22 1,407.85 923.79
2015-09-30 3,292.03 1,071.36 1,277.69
2015-06-30 3,257.35 1,015.53 1,282.30
2015-03-31 3,369.36 767.42 1,071.05
2014-12-31 3,193.23 774.14 892.59
2014-09-30 2,784.50 811.80 762.72
2014-06-30 2,961.57 695.59 933.87
2014-03-31 2,956.21 719.16 932.88
2013-12-31 2,603.83 698.02 817.23
2013-09-30 2,384.79 529.32 658.45
2013-06-30 2,546.20 587.45 814.48
2013-03-31 2,487.15 295.92 726.46
2012-12-31 2,318.54 296.84 654.84
2012-09-30 2,263.71 295.87 744.90
2012-06-30 2,338.60 256.08 721.59
  • Sinarmas Land's level of debt (49%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (26.8% vs 49% today).
  • Debt is not well covered by operating cash flow (15.1%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.4x coverage).
X
Financial health checks
We assess Sinarmas Land'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. Sinarmas Land has a total score of 3/6, 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.

A26 Dividends

 What is Sinarmas Land'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
0.77%
Current annual income from Sinarmas Land dividends.
If you bought SGD2,000 of Sinarmas Land shares you are expected to receive SGD15 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?
  • Sinarmas Land's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.49%).
  • Sinarmas Land's dividend is below the markets top 25% of dividend payers in Singapore (5.46%).
Upcoming dividend payment

Purchase Sinarmas Land 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:A26 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:A26 Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
SGX:A26 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-04-24 0.002 0.755
2018-04-03 0.008 2.774
2018-02-26 0.008 2.097
2017-11-13 0.008 2.017
2017-04-04 0.002 0.436
2017-02-24 0.002 0.394
2016-02-29 0.002 0.408
2015-02-27 0.005 0.911
2014-02-28 0.005 0.831
2013-02-28 0.004 0.724
2012-02-27 0.003 0.949

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

  • Sinarmas Land is not paying a notable dividend for Singapore, therefore no need to check if the payments are stable.
  • Sinarmas Land is not paying a notable dividend for Singapore, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Sinarmas Land's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Sinarmas Land's dividends as it is not paying a notable one for Singapore.
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 Sinarmas Land'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 Sinarmas Land afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sinarmas Land 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.

A26 Management

 What is the CEO of Sinarmas Land'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
Muktar Widjaja
AGE 64
TENURE AS CEO 12.3 years
CEO Bio

Mr. Muktar Widjaja has been the Chief Executive Officer of Sinarmas Land Limited (also known as, Asia Food & Properties, Ltd.) since December 2006. Mr. Widjaja has been the President of Golden Agri-Resources Ltd since 2000 and has been its Executive Director since March 1, 2018. Mr. Widjaja is responsible for matters relating to the Indonesian operation in the areas of Government Relations, Legal Compliance, Local community relations, Security and Sustainability. He has been actively involved in the management and operations of the property, financial services, agriculture, chemical and pulp and paper businesses of the Sinar Mas Group since 1983. He serves as President of PT Sinar Mas. He is Director of AFP Gardens (Tanjong Rhu) Pte Ltd, AFP Hillview Pte Ltd, AFP Land (Malaysia) Sdn Bhd, AFP Land Limited, AFP Resort Development Pte Ltd, AFP Resort Marketing Services Pte Ltd, Amcol (China) Investments Pte Ltd, Anak Bukit Resorts Sdn Bhd, Bali Indowisata Pte. Ltd, Golden Agri Plaza Pte. Ltd, Golden Ray Development Pte. Ltd, PT Sinar Syno Kimia Sinarmas Land (HK) Limited, and Sinarmas Land Overseas Holding Pte. Ltd. He served as Vice President Director and Director of Pabrik Kertas Tjiwi Kimia Tbk PT and PT Indah Kiat Pulp & Paper Tbk. He served as the President of Sinarmas Land Limited from 2000 to December 2006. He has been the President Commissioner of PT Puradelta Lestari Tbk since 2001. He has been the President Commissioner of PT Bumi Serpong Damai Tbk and PT Duta Pertiwi Tbk since 2007. Mr. Widjaja served as the President Commissioner of PT Golden Energy Mines Tbk. He served as the Chairman, President Director and Director of PT Sinar Mas Agro Resources & Technology Tbk. He has been a Vice President Commissioner of PT Sinar Mas Agro Resources & Technology Tbk since May 15, 2008. Mr. Widjaja served as a Vice President Commissioner at PT Dian Swastatika Sentosa Tbk since May 31, 2011. He served as a Vice Chairman of Golden Agri-Resources Ltd. from 2000 to December 2006. He served as director of Golden Agri-Resources Ltd since 1999 and served as a Non Executive Director of Golden Agri-Resources Ltd (GAR) since 2006 until March 1, 2018. He served as a Director of PT Duta Pertiwi Tbk and PT Sinar Mas. He has been an Executive Director of Sinarmas Land Limited since 1997. He served as a Non-Executive Director of Bund Center Investment Ltd. from September 9, 2009 to May 7, 2012. He serves as a Commissioner of PT Sinar Mas Agro Resources & Technology Tbk. He also serves on the Boards of Directors of several Sinar Mas companies. Mr. Widjaja holds a Bachelor's Degree in Business Administration with a major in Commerce in 1976 from the University Concordia, Canada and obtained his Bachelor of Commerce in 1976 from the University Concordia, Canada.

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

Franky Widjaja

TITLE
Executive Chairman
AGE
60

Muktar Widjaja

TITLE
CEO & Executive Director
AGE
64
TENURE
12.3 yrs

Ferdinand Sadeli

TITLE
CFO & Executive Director
AGE
44
TENURE
7 yrs

Ronald Ng

TITLE
Investor Relations Manager

Margaretha Widjaja

TITLE
Executive Director
AGE
36

Robin Ng

TITLE
Executive Director
AGE
43

Kimberley Lye

TITLE
Senior Manager & Company Secretary
AGE
73
Board of Directors Tenure

Average tenure and age of the Sinarmas Land board of directors in years:

9.3
Average Tenure
64
Average Age
  • The tenure for the Sinarmas Land board of directors is about average.
Board of Directors

Franky Widjaja

TITLE
Executive Chairman
AGE
60
TENURE
12.3 yrs

Muktar Widjaja

TITLE
CEO & Executive Director
AGE
64
TENURE
22.3 yrs

Ferdinand Sadeli

TITLE
CFO & Executive Director
AGE
44
TENURE
7 yrs

Margaretha Widjaja

TITLE
Executive Director
AGE
36
TENURE
9.3 yrs

Robin Ng

TITLE
Executive Director
AGE
43
TENURE
7 yrs

Pian Tee Hong

TITLE
Lead Independent Director
AGE
73

Rodolfo Balmater

TITLE
Non Executive & Independent Director
AGE
69
TENURE
13.2 yrs

Kunihiko Naito

TITLE
Independent Non-Executive Director
AGE
73
TENURE
11.3 yrs

Syn Pau Lew

TITLE
Non- Executive Independent Director
AGE
64
TENURE
1.9 yrs

Willy Shee

TITLE
Non Executive Independent Director
AGE
69
TENURE
1 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)
18. Oct 18 Buy Pian Tee Hong Individual 17. Oct 18 17. Oct 18 58,000 SGD0.27 SGD15,660
18. Oct 18 Buy Pian Tee Hong Individual 16. Oct 18 16. Oct 18 92,000 SGD0.27 SGD25,088
X
Management checks
We assess Sinarmas Land'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. Sinarmas Land 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.

A26 News

Simply Wall St News

Are Sinarmas Land Limited's (SGX:A26) Interest Costs Too High?

However, an important fact which most ignore is: how financially healthy is the business? … Understanding the company's financial health becomes. … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Those Who Purchased Sinarmas Land (SGX:A26) Shares Five Years Ago Have A 56% Loss To Show For It

Zooming in on an example, the Sinarmas Land Limited (SGX:A26) share price dropped 56% in the last half decade. … During the five years over which the share price declined, Sinarmas Land's earnings per share (EPS) dropped by 22% each year. … The share price decline of 15% per year isn't as bad as the EPS decline.

Simply Wall St -

Sinarmas Land Limited (SGX:A26): Time For A Financial Health Check

However, an important fact which most ignore is: how financially healthy is the business? … Assessing first and foremost the financial health is. … Here are a few basic checks that are good enough to have a broad overview of the company’s financial strength.

Simply Wall St -

Does Sinarmas Land Limited's (SGX:A26) PE Ratio Signal A Buying Opportunity?

Sinarmas Land Limited (SGX:A26) is trading with a trailing P/E of 4.2x, which is lower than the industry average of 10x. … While A26 might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … See our latest analysis for Sinarmas Land

Simply Wall St -

Sinarmas Land Limited (SGX:A26) Delivered A Better ROE Than The Industry, Here’s Why

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. … With an ROE of 14.67%, Sinarmas Land Limited (SGX:A26) outpaced its own industry which delivered a less exciting 6.56% over the past year.

Simply Wall St -

Sinarmas Land Limited (SGX:A26): Commentary On Fundamentals

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Sinarmas Land Limited (SGX:A26), it

Simply Wall St -

Top SGX Undervalued Stock

Sinarmas Land and Singapore Shipping are two of the stocks I have identified as undervalued. … Sinarmas Land Limited (SGX:A26) Sinarmas Land Limited, an investment holding company, engages in the property business in Indonesia, China, Malaysia, Singapore, and United Kingdom. … SGX:A26 PE PEG Gauge Jun 10th 18 Singapore Shipping Corporation Limited (SGX:S19) Singapore Shipping Corporation Limited, an investment holding company, owns and manages ships in Singapore, Japan, and internationally.

Simply Wall St -

Value Stocks Investors Love

A26's stock is currently trading at -81% beneath its value of $2, at a price of S$0.39, based on my discounted cash flow model. … S19's stock is now trading at -60% under its intrinsic value of $0.71, at a price of S$0.28, based on my discounted cash flow model. … BKY's stock is now trading at -25% under its value of $0.58, at a price of S$0.43, according to my discounted cash flow model.

Simply Wall St -

Should You Be Tempted To Buy Sinarmas Land Limited (SGX:A26) At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for A26 Price per share = SGD0.37 Earnings per share = SGD0.084 ∴ Price-Earnings Ratio = SGD0.37 ÷ SGD0.084 = 4.4x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … For example, if you accidentally compared higher growth firms with A26, then A26’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … If this assumption does not hold true, A26’s lower P/E ratio may be because firms in our peer group are being overvalued by the market.

Simply Wall St -

Top 3 Undervalued Stocks For The Month

Sinarmas Land Limited (SGX:A26) Sinarmas Land Limited, an investment holding company, engages in the property business in Indonesia, China, Malaysia, Singapore, and United Kingdom. … SGX:A26 PE PEG Gauge Apr 9th 18 Singapore Shipping Corporation Limited (SGX:S19) Singapore Shipping Corporation Limited, an investment holding company, owns and manages ships in Singapore, Japan, and internationally. … SGX:S19 PE PEG Gauge Apr 9th 18 HLH Group Limited (SGX:H27) HLH Group Limited, an investment holding company, operates as a property developer and agriculture company.

Simply Wall St -

A26 Company Info

Description

Sinarmas Land Limited, an investment holding company, engages in the property business in Indonesia, China, Malaysia, Singapore, and United Kingdom. The company engages in the investment and development of township, residential, commercial, industrial, and hospitality-related properties; and ownership and management of hotels and resorts. It also develops mixed properties; develops and operates country clubs, golf clubs and courses, and recreational facilities; develops and operates toll roads; and provides financing, management and consultancy, hotel and resort marketing agency, nominee, treasury management and related, e-commerce, healthcare services. The company was formerly known as AFP Properties Limited and changed its name to Sinarmas Land Limited in April 2011. Sinarmas Land Limited was incorporated in 1994 and is headquartered in Singapore. Sinarmas Land Limited is a subsidiary of Flambo International Limited.

Details
Name: Sinarmas Land Limited
A26
Exchange: SGX
Founded: 1994
SGD1,127,803,561
4,255,862,496
Website: http://www.sinarmasland.com
Address: Sinarmas Land Limited
No. 06-00 Golden Agri Plaza,
108 Pasir Panjang Road,
Singapore,
118535,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX A26 Ordinary Shares Singapore Exchange SG SGD 21. Jul 1997
Number of employees
Current staff
Staff numbers
0
Sinarmas Land employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/25 13:16
End of day share price update: 2019/04/25 00:00
Last estimates confirmation: 2017/02/24
Last earnings filing: 2019/04/02
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.