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C29

Chip Eng Seng SGX:C29 Stock Report

Last Price

S$0.54

Market Cap

S$423.5m

7D

3.8%

1Y

18.7%

Updated

27 Jun, 2022

Data

Company Financials
C29 fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance0/6
Financial Health3/6
Dividends2/6

C29 Stock Overview

Chip Eng Seng Corporation Ltd, an investment holding company, engages in property development, construction, hospitality, property investment, and education businesses.

Chip Eng Seng Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Chip Eng Seng
Historical stock prices
Current Share PriceS$0.54
52 Week HighS$0.55
52 Week LowS$0.41
Beta0.62
1 Month Change27.06%
3 Month Change20.00%
1 Year Change18.68%
3 Year Change-25.00%
5 Year Change-24.48%
Change since IPO92.86%

Recent News & Updates

Apr 04
Chip Eng Seng (SGX:C29) Is Due To Pay A Dividend Of S$0.02

Chip Eng Seng (SGX:C29) Is Due To Pay A Dividend Of S$0.02

The board of Chip Eng Seng Corporation Ltd ( SGX:C29 ) has announced that it will pay a dividend of S$0.02 per share on...

Shareholder Returns

C29SG Real EstateSG Market
7D3.8%0.7%0.4%
1Y18.7%-1.4%-1.8%

Return vs Industry: C29 exceeded the SG Real Estate industry which returned -3% over the past year.

Return vs Market: C29 exceeded the SG Market which returned -3.4% over the past year.

Price Volatility

Is C29's price volatile compared to industry and market?
C29 volatility
C29 Average Weekly Movement4.1%
Real Estate Industry Average Movement4.1%
Market Average Movement4.9%
10% most volatile stocks in SG Market11.8%
10% least volatile stocks in SG Market2.3%

Stable Share Price: C29 is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: C29's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19981,526Raymond Chiahttps://www.chipengseng.com.sg

Chip Eng Seng Corporation Ltd, an investment holding company, engages in property development, construction, hospitality, property investment, and education businesses. The company constructs public housing projects and private projects, such as condominiums and executive condominiums, as well as industrial and commercial projects; develops residential, industrial, commercial, and mixed-use projects, as well as manages development projects. It also engages in leasing and management of investment properties; operates hotels; offers corporate services, treasury functions, and investments in marketable securities; construction and supply of equipment for water and wastewater treatment plants; acquisition of portable containers/structures for rent and provision of related services; building construction and construction project management services; wholesale of construction materials, hardware, plumbing, and heating equipment and supplies; modular building construction In addition, the company manufactures and trades in precast concrete components.

Chip Eng Seng Fundamentals Summary

How do Chip Eng Seng's earnings and revenue compare to its market cap?
C29 fundamental statistics
Market CapS$423.48m
Earnings (TTM)-S$31.49m
Revenue (TTM)S$1.12b

0.4x

P/S Ratio

-13.5x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
C29 income statement (TTM)
RevenueS$1.12b
Cost of RevenueS$972.72m
Gross ProfitS$142.68m
Other ExpensesS$174.17m
Earnings-S$31.49m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)-0.04
Gross Margin12.79%
Net Profit Margin-2.82%
Debt/Equity Ratio202.2%

How did C29 perform over the long term?

See historical performance and comparison

Dividends

3.7%

Current Dividend Yield

-50%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is C29 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for C29?

Other financial metrics that can be useful for relative valuation.

C29 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.5x
Enterprise Value/EBITDA21.3x
PEG Ration/a

Price to Sales Ratio vs Peers

How does C29's PS Ratio compare to its peers?

C29 PS Ratio vs Peers
The above table shows the PS ratio for C29 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average2.9x
BDX GSH
3.3xn/aS$317.0m
Z59 Yoma Strategic Holdings
2.8xn/aS$308.8m
T24 Tuan Sing Holdings
1.9x10.5%S$456.4m
5JK Hiap Hoe
3.7xn/aS$345.9m
C29 Chip Eng Seng
0.4xn/aS$423.5m

Price-To-Sales vs Peers: C29 is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (2.9x).


Price to Earnings Ratio vs Industry

How does C29's PE Ratio compare vs other companies in the SG Real Estate Industry?

Price-To-Sales vs Industry: C29 is good value based on its Price-To-Sales Ratio (0.4x) compared to the SG Real Estate industry average (2.4x)


Price to Sales Ratio vs Fair Ratio

What is C29's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

C29 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.4x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate C29's Price-To-Sales Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of C29 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: C29 (SGD0.54) is trading below our estimate of fair value (SGD42.99)

Significantly Below Fair Value: C29 is trading below fair value by more than 20%.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate C29's PEG Ratio to determine if it is good value.


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Future Growth

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

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


13.9%

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 Chip Eng Seng 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.


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  • Examine whether Chip Eng Seng is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Chip Eng Seng competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Chip Eng Seng performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-51.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: C29 is currently unprofitable.

Growing Profit Margin: C29 is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: C29 is unprofitable, and losses have increased over the past 5 years at a rate of 51.6% per year.

Accelerating Growth: Unable to compare C29's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: C29 is unprofitable, making it difficult to compare its past year earnings growth to the Real Estate industry (43.3%).


Return on Equity

High ROE: C29 has a negative Return on Equity (-2.77%), as it is currently unprofitable.


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Financial Health

How is Chip Eng Seng's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: C29's short term assets (SGD1.9B) exceed its short term liabilities (SGD940.1M).

Long Term Liabilities: C29's short term assets (SGD1.9B) exceed its long term liabilities (SGD1.1B).


Debt to Equity History and Analysis

Debt Level: C29's net debt to equity ratio (136.8%) is considered high.

Reducing Debt: C29's debt to equity ratio has increased from 162.3% to 202.2% over the past 5 years.

Debt Coverage: C29's debt is well covered by operating cash flow (33.9%).

Interest Coverage: C29's interest payments on its debt are not well covered by EBIT (1.6x coverage).


Balance Sheet


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Dividend

What is Chip Eng Seng current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.70%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: C29's dividend (3.7%) is higher than the bottom 25% of dividend payers in the SG market (2.34%).

High Dividend: C29's dividend (3.7%) is low compared to the top 25% of dividend payers in the SG market (6.22%).


Stability and Growth of Payments

Stable Dividend: C29's dividend payments have been volatile in the past 10 years.

Growing Dividend: C29's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: C29 is paying a dividend but the company is unprofitable.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (3%), C29's dividend payments are thoroughly covered by cash flows.


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Management

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

2.6yrs

Average management tenure


CEO

Raymond Chia (57 yo)

6.33yrs

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...


Leadership Team

Experienced Management: C29's management team is considered experienced (2.6 years average tenure).


Board Members

Experienced Board: C29's board of directors are considered experienced (3.7 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: C29 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

Chip Eng Seng Corporation Ltd's 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
  • Implied Market Cap: S$423.481m
  • Shares outstanding: 784.22m
  • Website: https://www.chipengseng.com.sg

Number of Employees


Location

  • Chip Eng Seng Corporation Ltd
  • No. 12-01, CES Centre
  • 171 Chin Swee Road
  • Singapore
  • 169877
  • Singapore

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/27 00:00
End of Day Share Price2022/06/27 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.