SGX:C29

Stock Analysis Report

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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. More Details


Snowflake Analysis

Average dividend payer and fair value.

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 is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: C29's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

0%

C29

1.4%

SG Real Estate

1.8%

SG Market


1 Year Return

-32.8%

C29

-16.9%

SG Real Estate

-13.7%

SG Market

Return vs Industry: C29 underperformed the SG Real Estate industry which returned -16.9% over the past year.

Return vs Market: C29 underperformed the SG Market which returned -13.7% over the past year.


Shareholder returns

C29IndustryMarket
7 Day0%1.4%1.8%
30 Day-2.3%13.3%14.1%
90 Day-6.7%7.5%9.7%
1 Year-27.8%-32.8%-14.0%-16.9%-8.9%-13.7%
3 Year-45.1%-53.6%-22.6%-29.5%-11.5%-22.5%
5 Year-17.7%-37.8%-4.6%-17.7%10.8%-9.6%

Long-Term 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

Valuation

Is Chip Eng Seng 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: C29 (SGD0.42) is trading below our estimate of fair value (SGD5.16)

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


Price To Earnings Ratio

PE vs Industry: C29 is unprofitable, so we can't compare its PE Ratio to the SG Real Estate industry average.

PE vs Market: C29 is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: C29 is good value based on its PB Ratio (0.4x) 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 0 analysts?

26.4%

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.


Next Steps

Past Performance

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

-39.0%

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 39% 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 (-30.3%).


Return on Equity

High ROE: C29 has a negative Return on Equity (-0.74%), as it is currently unprofitable.


Next Steps

Financial Health

How is Chip Eng Seng's financial position?


Financial Position Analysis

Short Term Liabilities: C29's short term assets (SGD2.2B) exceed its short term liabilities (SGD480.2M).

Long Term Liabilities: C29's short term assets (SGD2.2B) exceed its long term liabilities (SGD1.8B).


Debt to Equity History and Analysis

Debt Level: C29's debt to equity ratio (213.6%) is considered high.

Reducing Debt: C29's debt to equity ratio has increased from 136.7% to 213.6% over the past 5 years.

Debt Coverage: C29's debt is not well covered by operating cash flow (10.7%).

Interest Coverage: C29 is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

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

9.52%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: C29's dividend (9.52%) is higher than the bottom 25% of dividend payers in the SG market (2.37%).

High Dividend: C29's dividend (9.52%) is in the top 25% of dividend payers in the SG market (5.13%)


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


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

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

3.0yrs

Average management tenure


CEO

Raymond Chia (55 yo)

4.75yrs

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

NamePositionTenureCompensationOwnership
Lee Meng Chia
Group CEO & Executive Director4.75yrsno data1.84%
SGD 6.1m
Tee How Tan
Executive Director2.67yrsno datano data
Cheong Yan Law
Chief Financial Officer7.25yrsno datano data
Gin Goh
General Counsel & Company Secretaryno datano datano data
Puay Goh
General Manager of Marketingno datano datano data
Kang Ang
Chief Human Resource Officerno datano datano data
Siang Yeo
Managing Director of Building Construction Division3.25yrsno datano data
Shaw Leong Yoong
Managing Director of Precast Division2.58yrsno datano data
Thiam Koh
Executive Vice President of Educationno datano datano data
Lui Kathryn
Senior Vice Presidentno datano datano data
Chin Koh
Senior Vice Presidentno datano datano data
Li Ping Toh
Joint Company Secretary0.75yrno datano data

3.0yrs

Average Tenure

56yo

Average Age

Experienced Management: C29's management team is considered experienced (3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Lee Meng Chia
Group CEO & Executive Director4.75yrsno data1.84%
SGD 6.1m
Tee How Tan
Executive Director2.67yrsno datano data
Abdul Jabbar Bin Karam Din
Independent Director2.67yrsno datano data
Teck Seng Low
Independent Non-Executive Director0.92yrno datano data
Boon Siong Neo
Independent Non-Executive Director0.92yrno datano data
Mong Seng Ang
Lead Independent Director5yrsno data0.023%
SGD 76.6k
Wai Han Lock
Independent & Non-Executive Director2.08yrsno datano data
Celine Tang
Non-Executive Chairman2.08yrsno data36.33%
SGD 119.5m
Ah Mee Yam
Non-Independent & Non-Executive Director0.92yrno data0.0026%
SGD 8.4k
Yaacob Bin Ibrahim
Independent Director0.75yrno datano data

2.1yrs

Average Tenure

61.5yo

Average Age

Experienced Board: C29's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


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.


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 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$328.828m
  • Shares outstanding: 782.92m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
C29SGX (Singapore Exchange)YesOrdinary SharesSGSGDNov 1999
QK5BST (Boerse-Stuttgart)YesOrdinary SharesDEEURNov 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 M...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/29 11:12
End of Day Share Price2020/11/27 00:00
Earnings2020/06/30
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.