EC World Real Estate Investment Trust
Market Cap
S$592.3m
Last Updated
2021/03/04 11:04 UTC
Data Sources
Company Financials +
Executive Summary
Listed on 28 July 2016, EC World REIT is the first Chinese specialised logistics and e-commerce logistics REIT listed on Singapore Exchange Securities Trading Limited (“SGX-ST”). More Details
Rewards
Risk Analysis
Snowflake Analysis
Moderate growth potential second-rate dividend payer.
Similar Companies
Share Price & News
How has EC World Real Estate Investment Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BWCU is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: BWCU's weekly volatility (2%) has been stable over the past year.
Market Performance
7 Day Return
0.7%
BWCU
0.5%
SG REITs
1.1%
SG Market
1 Year Return
1.4%
BWCU
-12.3%
SG REITs
-4.0%
SG Market
Return vs Industry: BWCU exceeded the SG REITs industry which returned -12.3% over the past year.
Return vs Market: BWCU exceeded the SG Market which returned -4% over the past year.
Shareholder returns
| BWCU | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.7% | 0.5% | 1.1% |
| 30 Day | 2.1% | -3.3% | 1.9% |
| 90 Day | 1.4% | 1.3% | 6.1% |
| 1 Year | 9.8%1.4% | -7.8%-12.3% | 1.0%-4.0% |
| 3 Year | 21.9%-2.7% | 18.4%-1.3% | -7.1%-18.5% |
| 5 Year | n/a | 46.5%8.2% | 17.0%-4.4% |
Long-Term Price Volatility Vs. Market
How volatile is EC World Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
5 months ago | Simply Wall St
What Are The Total Returns Earned By Shareholders Of EC World Real Estate Investment Trust (SGX:BWCU) On Their Investment?8 months ago | Simply Wall St
How Many EC World Real Estate Investment Trust (SGX:BWCU) Shares Have Insiders Sold, In The Last Year?10 months ago | Simply Wall St
Can We See Significant Institutional Ownership On The EC World Real Estate Investment Trust (SGX:BWCU) Share Register?Valuation
Is EC World Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BWCU (SGD0.73) is trading below our estimate of fair value (SGD1.86)
Significantly Below Fair Value: BWCU is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BWCU is poor value based on its PE Ratio (38x) compared to the SG REITs industry average (21.8x).
PE vs Market: BWCU is poor value based on its PE Ratio (38x) compared to the SG market (14.4x).
Price to Earnings Growth Ratio
PEG Ratio: BWCU is poor value based on its PEG Ratio (1.4x)
Price to Book Ratio
PB vs Industry: BWCU's PB Ratio (0.8x) is in line with the SG REITs industry average.
Next Steps
Future Growth
How is EC World Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
27.5%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BWCU's forecast earnings growth (27.5% per year) is above the savings rate (2%).
Earnings vs Market: BWCU's earnings (27.5% per year) are forecast to grow faster than the SG market (25.7% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BWCU's revenue (2.1% per year) is forecast to grow slower than the SG market (9.1% per year).
High Growth Revenue: BWCU's revenue (2.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BWCU's Return on Equity is forecast to be low in 3 years time (6.4%).
Next Steps
Past Performance
How has EC World Real Estate Investment Trust performed over the past 5 years?
-117.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BWCU has a large one-off loss of SGD10.5M impacting its December 31 2020 financial results.
Growing Profit Margin: BWCU's current net profit margins (14.1%) are lower than last year (65.7%).
Past Earnings Growth Analysis
Earnings Trend: BWCU's earnings have declined by 117.7% per year over the past 5 years.
Accelerating Growth: BWCU's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BWCU had negative earnings growth (-76.3%) over the past year, making it difficult to compare to the REITs industry average (-29.3%).
Return on Equity
High ROE: BWCU's Return on Equity (2.2%) is considered low.
Next Steps
Financial Health
How is EC World Real Estate Investment Trust's financial position?
Financial Position Analysis
Short Term Liabilities: BWCU's short term assets (SGD192.0M) exceed its short term liabilities (SGD154.2M).
Long Term Liabilities: BWCU's short term assets (SGD192.0M) do not cover its long term liabilities (SGD945.9M).
Debt to Equity History and Analysis
Debt Level: BWCU's debt to equity ratio (95.6%) is considered high.
Reducing Debt: BWCU's debt to equity ratio has increased from 39.2% to 95.6% over the past 5 years.
Debt Coverage: BWCU's debt is not well covered by operating cash flow (11.9%).
Interest Coverage: BWCU's interest payments on its debt are not well covered by EBIT (2.5x coverage).
Balance Sheet
Next Steps
Dividend
What is EC World Real Estate Investment Trust current dividend yield, its reliability and sustainability?
7.34%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: BWCU's dividend (7.34%) is higher than the bottom 25% of dividend payers in the SG market (1.98%).
High Dividend: BWCU's dividend (7.34%) is in the top 25% of dividend payers in the SG market (4.79%)
Stability and Growth of Payments
Stable Dividend: BWCU has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BWCU has only been paying a dividend for 4 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (53.9%), BWCU's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BWCU's dividends in 3 years are not forecast to be well covered by earnings (108.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
1.2yrs
Average management tenure
CEO
Eric Goh (63 yo)
3.08yrs
Tenure
S$5,417
Compensation
Mr. Toh Sim Goh, also known as Eric, serves as an Executive Director and Chief Executive Officer of EC World Asset Management Pte. Ltd., Manager of EC World Real Estate Investment Trust since March 23, 201...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of EC World Asset Management Pte. Ltd. | 3.08yrs | S$5.42k | 0.10% SGD 603.8k | |
| Chief Financial Officer - EC World Asset Management Pte. Ltd. | 1.17yrs | no data | 0.0025% SGD 15.0k | |
| Senior Manager of Investor Relations- EC World Asset Management Pte. Ltd. | 1.17yrs | no data | no data | |
| Company Secretary of EC World Asset Management Pte Ltd. | no data | no data | no data |
1.2yrs
Average Tenure
Experienced Management: BWCU's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Executive Director of EC World Asset Management Pte. Ltd. | 3.08yrs | S$5.42k | 0.10% SGD 603.8k | |
| Independent Non-Executive Director of EC World Asset Management Pte. Ltd. | 4.75yrs | S$70.00k | 0.025% SGD 147.0k | |
| Independent Non-Executive Director of EC World Asset Management Pte. Ltd. | 4.75yrs | S$100.00k | no data | |
| Lead Non-Executive Independent Director of EC World Asset Management Pte. Ltd. | 4.75yrs | S$109.00k | 0.037% SGD 220.5k | |
| Non-Executive Chairman of EC World Asset Management Pte. Ltd. | 4.75yrs | S$100.00k | no data | |
| Independent Non-Executive Director of EC World Asset Management Pte. Ltd. | 4.75yrs | S$75.00k | no data |
4.8yrs
Average Tenure
62.5yo
Average Age
Experienced Board: BWCU's board of directors are considered experienced (4.8 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
EC World Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources
Key Information
- Name: EC World Real Estate Investment Trust
- Ticker: BWCU
- Exchange: SGX
- Founded: 2015
- Industry: Industrial REITs
- Sector: Real Estate
- Market Cap: S$592.295m
- Shares outstanding: 805.84m
- Website: https://www.ecwreit.com
Location
- EC World Real Estate Investment Trust
- Republic Plaza
- Suite 45-02
- Singapore
- 48619
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BWCU | SGX (Singapore Exchange) | Yes | Units | SG | SGD | Jul 2016 |
Biography
Listed on 28 July 2016, EC World REIT is the first Chinese specialised logistics and e-commerce logistics REIT listed on Singapore Exchange Securities Trading Limited (“SGX-ST”). With its portfolio of eigh...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/04 11:04 |
| End of Day Share Price | 2021/03/04 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.