SGX:BDX

Stock Analysis Report

Executive Summary

GSH Corporation Limited, an investment holding company, engages in the development and sale of properties.


Snowflake Analysis

Acceptable track record with mediocre balance sheet.

Share Price & News

How has GSH's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BDX's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-12.8%

BDX

2.4%

SG Real Estate

5.3%

SG Market


1 Year Return

-30.5%

BDX

-32.6%

SG Real Estate

-25.9%

SG Market

Return vs Industry: BDX exceeded the SG Real Estate industry which returned -33.3% over the past year.

Return vs Market: BDX exceeded the SG Market which returned -27.3% over the past year.


Shareholder returns

BDXIndustryMarket
7 Day-12.8%2.4%5.3%
30 Day-35.9%-20.4%-18.7%
90 Day-42.3%-27.8%-24.5%
1 Year-30.5%-30.5%-30.1%-32.6%-22.7%-25.9%
3 Year-59.8%-61.7%-32.7%-38.4%-18.4%-27.1%
5 Year-41.4%-44.6%-30.4%-39.8%-17.0%-31.2%

Price Volatility Vs. Market

How volatile is GSH's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is GSH undervalued compared to its fair value and its price relative to the market?

52.84x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BDX (SGD0.22) is trading above our estimate of fair value (SGD0.03)

Significantly Below Fair Value: BDX is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: BDX is poor value based on its PE Ratio (56.7x) compared to the Real Estate industry average (10.1x).

PE vs Market: BDX is poor value based on its PE Ratio (56.7x) compared to the SG market (10.2x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate BDX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BDX is overvalued based on its PB Ratio (1.1x) compared to the SG Real Estate industry average (0.4x).


Next Steps

Future Growth

How is GSH forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

8.2%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as GSH has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has GSH performed over the past 5 years?

8.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BDX has a large one-off loss of SGD13.7M impacting its December 31 2019 financial results.

Growing Profit Margin: BDX's current net profit margins (4.9%) are lower than last year (5.9%).


Past Earnings Growth Analysis

Earnings Trend: BDX's earnings have grown by 8.7% per year over the past 5 years.

Accelerating Growth: BDX's earnings growth over the past year (28%) exceeds its 5-year average (8.7% per year).

Earnings vs Industry: BDX earnings growth over the past year (28%) exceeded the Real Estate industry -30.5%.


Return on Equity

High ROE: BDX's Return on Equity (2.1%) is considered low.


Next Steps

Financial Health

How is GSH's financial position?


Financial Position Analysis

Short Term Liabilities: BDX's short term assets (SGD661.2M) exceed its short term liabilities (SGD313.2M).

Long Term Liabilities: BDX's short term assets (SGD661.2M) exceed its long term liabilities (SGD371.3M).


Debt to Equity History and Analysis

Debt Level: BDX's debt to equity ratio (106.6%) is considered high.

Reducing Debt: BDX's debt to equity ratio has reduced from 205.4% to 106.6% over the past 5 years.

Debt Coverage: BDX's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BDX's interest payments on its debt are not well covered by EBIT (2x coverage).


Balance Sheet

Inventory Level: BDX has a high level of physical assets or inventory.

Debt Coverage by Assets: BDX's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is GSH's current dividend yield, its reliability and sustainability?

1.22%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BDX's dividend (1.14%) isn’t notable compared to the bottom 25% of dividend payers in the SG market (3.27%).

High Dividend: BDX's dividend (1.14%) is low compared to the top 25% of dividend payers in the SG market (7.07%).


Stability and Growth of Payments

Stable Dividend: BDX is not paying a notable dividend for the SG market, therefore no need to check if payments are stable.

Growing Dividend: BDX is not paying a notable dividend for the SG market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: BDX is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of BDX's dividend in 3 years as they are not forecast to pay a notable one for the SG market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Gilbert Ee (54yo)

12.92s

Tenure

Mr. Guan Hui Ee, also known as Gilbert, has been the Chief Executive Officer of GSH Corporation Limited. since May 1, 2007. Mr. Ee is responsible for the overall formulation of group strategies and all cor ...


Leadership Team

NamePositionTenureCompensationOwnership
Seng Hui Goi
Executive Chairman7.75yrsno data59.79% SGD257.5m
Guan Hui Ee
CEO & Executive Director12.92yrsno data8.1% SGD34.9m
Kok Ming Goi
COO & Executive Director7.75yrsno datano data
Radhakrishnan Vijayakumar
Assistant Director of International Salesno datano datano data
Tiong Hock Lee
Company Secretary4.42yrsno datano data

4.4yrs

Average Tenure

54yo

Average Age

Experienced Management: BDX's management team is considered experienced (4.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Seng Hui Goi
Executive Chairman7.75yrsno data59.79% SGD257.5m
Guan Hui Ee
CEO & Executive Director12.92yrsno data8.1% SGD34.9m
Kok Ming Goi
COO & Executive Director7.75yrsno datano data
Choon Hui Lee
Vice Chairman & Lead Independent Director7.75yrsno datano data
Hwee Khoon Lee
Non-Executive Director7.75yrsno datano data
Michael Grenville Gray
Independent Director12.5yrsno datano data
Huang Lui
Independent Director7.67yrsno datano data
Hin Pkin Wong
Non-Executive Independent Director0.25yrno datano data

7.8yrs

Average Tenure

67yo

Average Age

Experienced Board: BDX's board of directors are considered experienced (7.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

GSH Corporation Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: GSH Corporation Limited
  • Ticker: BDX
  • Exchange: SGX
  • Founded: 2001
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: S$430.720m
  • Shares outstanding: 1.96b
  • Website: https://www.gshcorporation.com

Location

  • GSH Corporation Limited
  • No. 28-01 PLUS
  • 20 Cecil Street
  • Singapore
  • 49705
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BDXSGX (Singapore Exchange)YesOrdinary SharesSGSGDAug 2003
0J61BST (Boerse-Stuttgart)YesOrdinary SharesDEEURAug 2003

Biography

GSH Corporation Limited, an investment holding company, engages in the development and sale of properties. It operates through Hospitality and Property segments. The company is also involved in the rental of investment properties. In addition, it owns the Sutera Harbour Resort comprising two five-star hotels, a 104-berth marina, and 27-hole championship golf course in Kota Kinabalu, Malaysia, as well as Sutera@Mantanani Resort, an idyllic, 30-room resort on the Mantanani Islands in Sabah. Further, the company is involved in the retailing of clothing, souvenirs, and convenience items, as well as provision of upmarket train and facilities management services. It operates in Malaysia and Singapore. The company was formerly known as JEL Corporation (Holdings) Ltd. and changed its name to GSH Corporation Limited in May 2012. GSH Corporation Limited was incorporated in 2001 and is based in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 12:38
End of Day Share Price2020/04/01 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.