Chip Eng Seng
Market Cap
S$481.6m
Last Updated
2020/01/22 12:34 UTC
Data Sources
Company Financials +
Executive Summary
Chip Eng Seng Corporation Ltd, an investment holding company, engages in the construction, property development and investment, and hospitality businesses primarily in Singapore, Australia, Malaysia, and Maldives.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -28.3% per year for the next 3 years
Snowflake Analysis
Undervalued established dividend payer.
Share Price & News
How has Chip Eng Seng's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: C29 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-0.8%
C29
-1.0%
SG Real Estate
-0.3%
SG Market
1 Year Return
-11.5%
C29
-0.2%
SG Real Estate
2.1%
SG Market
Return vs Industry: C29 underperformed the SG Real Estate industry which returned 1.1% over the past year.
Return vs Market: C29 underperformed the SG Market which returned 2.1% over the past year.
Shareholder returns
| C29 | Industry | Market | |
|---|---|---|---|
| 7 Day | -0.8% | -1.0% | -0.3% |
| 30 Day | 0% | 1.6% | 1.4% |
| 90 Day | -1.6% | 3.7% | 2.8% |
| 1 Year | -6.7%-11.5% | 2.9%-0.2% | 6.3%2.1% |
| 3 Year | 8.2%-6.8% | 5.7%-2.7% | 14.9%2.6% |
| 5 Year | -10.7%-32.0% | -2.9%-15.3% | 11.1%-7.4% |
Price Volatility Vs. Market
How volatile is Chip Eng Seng's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Did You Manage To Avoid Chip Eng Seng's (SGX:C29) 29% Share Price Drop?1 month ago | Simply Wall St
Do Insiders Own Shares In Chip Eng Seng Corporation Ltd (SGX:C29)?2 months ago | Simply Wall St
A Look At The Fair Value Of Chip Eng Seng Corporation Ltd (SGX:C29)Valuation
Is Chip Eng Seng undervalued compared to its fair value and its price relative to the market?
24.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: C29 (SGD0.62) is trading below our estimate of fair value (SGD0.82)
Significantly Below Fair Value: C29 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: C29 is good value based on its PE Ratio (8.4x) compared to the Real Estate industry average (10.3x).
PE vs Market: C29 is good value based on its PE Ratio (8.4x) compared to the SG market (13.5x).
Price to Earnings Growth Ratio
PEG Ratio: C29's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: C29 is good value based on its PB Ratio (0.5x) compared to the SG Real Estate industry average (0.5x).
Next Steps
Future Growth
How is Chip Eng Seng forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?
-28.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: C29's earnings are forecast to decline over the next 3 years (-28.3% per year).
Earnings vs Market: C29's earnings are forecast to decline over the next 3 years (-28.3% per year).
High Growth Earnings: C29's earnings are forecast to decline over the next 3 years.
Revenue vs Market: C29's revenue is expected to decline over the next 3 years (-20.2% per year).
High Growth Revenue: C29's revenue is forecast to decline over the next 3 years (-20.2% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if C29's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Chip Eng Seng performed over the past 5 years?
-42.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: C29 has high quality earnings.
Growing Profit Margin: C29's current net profit margins (4.3%) are lower than last year (4.9%).
Past Earnings Growth Analysis
Earnings Trend: C29's earnings have declined by -42% per year over the past 5 years.
Accelerating Growth: C29's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: C29 had negative earnings growth (-7.2%) over the past year, making it difficult to compare to the Real Estate industry average (-7.2%).
Return on Equity
High ROE: C29's Return on Equity (5.8%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Chip Eng Seng's financial position?
Financial Position Analysis
Short Term Liabilities: C29's short term assets (SGD2.3B) exceed its short term liabilities (SGD260.5M).
Long Term Liabilities: C29's short term assets (SGD2.3B) exceed its long term liabilities (SGD2.0B).
Debt to Equity History and Analysis
Debt Level: C29's debt to equity ratio (236.4%) is considered high.
Reducing Debt: C29's debt to equity ratio has increased from 102.2% to 236.4% over the past 5 years.
Debt Coverage: C29's debt is not well covered by operating cash flow (5.6%).
Interest Coverage: C29's interest payments on its debt are not well covered by EBIT (2x coverage).
Balance Sheet
Inventory Level: C29 has a high level of physical assets or inventory.
Debt Coverage by Assets: C29's debt is covered by short term assets (assets are 1.2x debt).
Next Steps
Dividend
What is Chip Eng Seng's current dividend yield, its reliability and sustainability?
6.50%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: C29's dividend (6.45%) is higher than the bottom 25% of dividend payers in the SG market (2.5%).
High Dividend: C29's dividend (6.45%) is in the top 25% of dividend payers in the SG market (5.41%)
Stability and Growth of Payments
Stable Dividend: C29's dividends per share have been stable in the past 10 years.
Growing Dividend: C29's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (53.9%), C29's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
What is the CEO of Chip Eng Seng's salary, the management and board of directors tenure and is there insider trading?
2.4yrs
Average management tenure
CEO
Raymond Chia (54yo)
3.9yrs
Tenure
Mr. Chia Lee Meng, also known as Raymond, PBM, served as Executive Chairman of Chip Eng Seng Corporation Ltd from May 5, 2016 to October 11, 2018 and has been its Chief Executive Officer and Executive Dire ...
Management Age and Tenure
2.4yrs
Average Tenure
55yo
Average Age
Experienced Management: C29's management team is considered experienced (2.4 years average tenure).
Board Age and Tenure
1.3yrs
Average Tenure
62yo
Average Age
Experienced Board: C29's board of directors are not considered experienced ( 1.3 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Chairman of the Board Non-Executive Chairman |
| Shares | 115,547,903 |
| Max Price | S$0.63 |
| Entity | Company |
| Shares | 4,299,500 |
| Max Price | S$0.63 |
| Entity | Individual |
| Role | Chief Executive Officer Group CEO & Executive Director |
| Shares | 2,781,250 |
| Max Price | S$0.63 |
| Entity | Individual |
| Shares | 2,425,500 |
| Max Price | S$0.63 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent & Non-Executive Director |
| Shares | 90,000 |
| Max Price | S$0.80 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
Siang Thong Yeo (56yo)
Managing Director of Construction Division
- Tenure: 2.4yrs
Raymond Chia (54yo)
Group CEO & Executive Director
- Tenure: 3.9yrs
Cheong Yan Law (48yo)
Chief Financial Officer
- Tenure: 6.4yrs
Tee How Tan (60yo)
Executive Director
- Tenure: 1.9yrs
Gin Goh
Senior Legal Counsel & Company Secretary
Shaw Leong Yoong
Managing Director of Precast Division
- Tenure: 1.8yrs
Joanne Goh
General Manager of Marketing
Thiam Koh
Senior Vice President
Kang Ang
Chief Human Resource Officer
Lui Kathryn
Senior Vice President
Board Members
Abdul Jabbar Bin Karam Din
Independent Director
- Tenure: 1.9yrs
Teck Seng Low (64yo)
Independent Non-Executive Director
- Tenure: 0.08yrs
Boon Siong Neo (62yo)
Independent Non-Executive Director
- Tenure: 0.08yrs
Raymond Chia (54yo)
Group CEO & Executive Director
- Tenure: 3.9yrs
Mong Seng Ang (70yo)
Lead Independent Director
- Tenure: 4.2yrs
Wai Han Lock (51yo)
Independent & Non-Executive Director
- Tenure: 1.3yrs
Serena Tang
Non-Executive Chairman
- Tenure: 1.3yrs
Tee How Tan (60yo)
Executive Director
- Tenure: 1.9yrs
Ah Mee Yam (62yo)
Non-Independent & Non-Executive Director
- Tenure: 0.08yrs
Company Information
Chip Eng Seng Corporation Ltd's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Chip Eng Seng Corporation Ltd
- Ticker: C29
- Exchange: SGX
- Founded: 1998
- Industry: Real Estate Development
- Sector: Real Estate
- Market Cap: S$481.556m
- Shares outstanding: 783.02m
- Website: https://www.chipengseng.com.sg
Location
- Chip Eng Seng Corporation Ltd
- No. 12-01, CES Centre
- 171 Chin Swee Road
- Singapore
- 169877
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| C29 | SGX (Singapore Exchange) | Yes | Ordinary Shares | SG | SGD | Nov 1999 |
| QK5 | BST (Boerse-Stuttgart) | Yes | Ordinary Shares | DE | EUR | Nov 1999 |
Biography
Chip Eng Seng Corporation Ltd, an investment holding company, engages in the construction, property development and investment, and hospitality businesses primarily in Singapore, Australia, Malaysia, and Maldives. The company operates through Construction, Property Developments, Property Investments, Hospitality, and Corporate and Others segments. The company constructs public housing projects, condominiums, executive condominiums, modular buildings, and industrial and commercial projects; develops residential, commercial, and industrial properties, as well as manages development projects; and provides real estate management and consultancy services. It also leases investment properties, such as shophouses, office buildings, and industrial properties; operates hotels and island resort; and invests in marketable securities. In addition, the company acts as general building contractor; manufactures and trades in precast products; and provides general building engineering, financial, and treasury services. Further, the company operates Repton-brand pre-school center in Singapore. Chip Eng Seng Corporation Ltd was incorporated in 1998 and is headquartered in Singapore.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/22 12:34 |
| End of Day Share Price | 2020/01/22 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.