Dasin Retail Trust
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Dasin Retail Trust specializes in the investments and owns, develops, and operates land, uncompleted developments, and income-producing real estate properties in Greater China, mainly for retail use. The last earnings update was 22 days ago. More info.
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CEDU Share Price and Events
7 Day Returns
1 Year Returns
CEDU Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Dasin Retail Trust (CEDU) | 0% | 1.1% | 1.1% | 1.7% | - | - |
| SG REITs | 0.5% | 0.8% | 4.7% | 4% | 15% | 12.4% |
| SG Market | 0.2% | 4.1% | 4.4% | -5.7% | 10.8% | -2.6% |
1 Year Return vs Industry and Market
- CEDU underperformed the REITs industry which returned 4% over the past year.
- CEDU outperformed the Market in Singapore which returned -5.7% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Dasin Retail Trust
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Dasin Retail Trust.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 1 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.2% |
| Perpetual Growth Rate | 10-Year SG Government Bond Rate | 2.3% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year SG Govt Bond Rate | 2.3% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.54 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.537 (1 + (1- 17%) (101.76%)) |
0.994 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.99 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (0.994 * 5.96%) |
8.23% |
Discounted Cash Flow Calculation for SGX:CEDU using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Dasin Retail Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (SGD, Millions) | Source |
Present Value Discounted (@ 8.23%) |
|
|---|---|---|---|
| 2019 | 59.03 | Est @ 17.68% | 54.54 |
| 2020 | 66.74 | Est @ 13.07% | 56.98 |
| 2021 | 73.30 | Est @ 9.84% | 57.82 |
| 2022 | 78.86 | Est @ 7.58% | 57.47 |
| 2023 | 83.59 | Est @ 5.99% | 56.29 |
| 2024 | 87.67 | Est @ 4.89% | 54.55 |
| 2025 | 91.28 | Est @ 4.11% | 52.48 |
| 2026 | 94.53 | Est @ 3.57% | 50.22 |
| 2027 | 97.55 | Est @ 3.19% | 47.88 |
| 2028 | 100.40 | Est @ 2.92% | 45.53 |
| Present value of next 10 years cash flows | SGD533.75 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SGD100.40 × (1 + 2.3%) ÷ (8.23% – 2.3%) |
SGD1,733.28 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SGD1,733.28 ÷ (1 + 8.23%)10 |
SGD786.02 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SGD533.75 + SGD786.02 |
SGD1,319.77 |
| Equity Value per Share (SGD) |
= Total value / Shares Outstanding
= SGD1,319.77 / 558.91 |
SGD2.36 |
| Calculation | Result | |
|---|---|---|
| Value per share (SGD) | From above. | SGD2.36 |
| Current discount | Discount to share price of
SGD0.88
= -1 x (SGD0.88 - SGD2.36) / SGD2.36 |
62.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Dasin Retail Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Dasin Retail Trust's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Dasin Retail Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Dasin Retail Trust's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in SGD | SGD-0.02 |
| SGX:CEDU Share Price ** | SGX (2019-04-25) in SGD | SGD0.88 |
| Singapore REITs Industry PE Ratio | Median Figure of 39 Publicly-Listed REITs Companies | 13.69x |
| Singapore Market PE Ratio | Median Figure of 328 Publicly-Listed Companies | 13.19x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Dasin Retail Trust.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:CEDU Share Price ÷ EPS (both in SGD) = 0.88 ÷ -0.02 |
-42.55x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dasin Retail Trust is loss making, we can't compare its value to the SG REITs industry average.
- Dasin Retail Trust is loss making, we can't compare the value of its earnings to the Singapore market.
Price based on expected Growth
Does
Dasin Retail Trust's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -42.55x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts |
36.8%per year |
| Singapore REITs Industry PEG Ratio | Median Figure of 37 Publicly-Listed REITs Companies | 2.07x |
| Singapore Market PEG Ratio | Median Figure of 120 Publicly-Listed Companies | 1.58x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Dasin Retail Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Dasin Retail Trust's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in SGD | SGD1.39 |
| SGX:CEDU Share Price * | SGX (2019-04-25) in SGD | SGD0.88 |
| Singapore REITs Industry PB Ratio | Median Figure of 41 Publicly-Listed REITs Companies | 0.95x |
| Singapore Market PB Ratio | Median Figure of 432 Publicly-Listed Companies | 0.76x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:CEDU Share Price ÷ Book Value per Share (both in SGD) = 0.88 ÷ 1.39 |
0.63x |
* Primary Listing of Dasin Retail Trust.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dasin Retail Trust is good value based on assets compared to the SG REITs industry average.
Value checks
We assess Dasin Retail Trust's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Dasin Retail Trust has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
- No analysts cover Dasin Retail Trust, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Dasin Retail Trust's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
- Dasin Retail Trust's earnings growth is expected to exceed the Singapore market average.
- Dasin Retail Trust's revenue growth is expected to exceed the Singapore market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SGX:CEDU Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts | 36.8% |
| SGX:CEDU Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts | 5.7% |
| Singapore REITs Industry Earnings Growth Rate | Market Cap Weighted Average | -3.1% |
| Singapore REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
| Singapore Market Earnings Growth Rate | Market Cap Weighted Average | 5.9% |
| Singapore Market Revenue Growth Rate | Market Cap Weighted Average | 4.7% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 80 | 45 | 1 | |
| 2019-12-31 | 76 | 37 | 1 |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 71 | 50 | -11 |
| 2018-09-30 | 73 | 53 | 2 |
| 2018-06-30 | 74 | 53 | 4 |
| 2018-03-31 | 66 | 45 | 31 |
| 2017-12-31 | 58 | 34 | 19 |
| 2017-09-30 | 51 | 27 | 3 |
| 2017-06-30 | 41 | 33 | 5 |
| 2017-03-31 | 41 | 33 | 13 |
| 2016-12-31 | 34 | 32 | 26 |
| 2016-09-30 | 32 | 33 | 26 |
| 2016-06-30 | 32 | 23 | 25 |
| 2016-03-31 | 28 | 18 | 10 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
All data from Dasin Retail Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | ||||
| 2019-12-31 |
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2018-12-31 | -0.02 |
| 2018-09-30 | 0.00 |
| 2018-06-30 | 0.01 |
| 2018-03-31 | 0.06 |
| 2017-12-31 | 0.03 |
| 2017-09-30 | 0.01 |
| 2017-06-30 | 0.01 |
| 2017-03-31 | 0.02 |
| 2016-12-31 | |
| 2016-09-30 | |
| 2016-06-30 | 0.07 |
| 2016-03-31 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Dasin Retail Trust's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Dasin Retail Trust has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Dasin Retail Trust performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Dasin Retail Trust does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
- Unable to compare Dasin Retail Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Dasin Retail Trust's 1-year growth to the SG REITs industry average as it is not currently profitable.
Earnings and Revenue History
All data from Dasin Retail Trust Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in SGD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 71.29 | -11.47 | 7.23 | |
| 2018-09-30 | 72.64 | 2.20 | 6.07 | |
| 2018-06-30 | 73.51 | 4.35 | 11.94 | |
| 2018-03-31 | 66.21 | 31.08 | 11.48 | |
| 2017-12-31 | 57.70 | 18.86 | 11.99 | |
| 2017-09-30 | 50.85 | 3.06 | 9.09 | |
| 2017-06-30 | 41.33 | 4.57 | 1.72 | |
| 2017-03-31 | 41.43 | 12.63 | 0.75 | |
| 2016-12-31 | 34.23 | 25.63 | 0.17 | |
| 2016-09-30 | 32.29 | 26.20 | 2.40 | |
| 2016-06-30 | 32.15 | 25.12 | 4.56 | |
| 2016-03-31 | 27.89 | 10.49 | 5.50 | |
| 2015-12-31 | 33.96 | 2.40 | 6.71 | |
| 2014-12-31 | 21.91 | -5.35 | 3.73 | |
| 2013-12-31 | 20.21 | -3.75 | 3.63 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if Dasin Retail Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- Dasin Retail Trust used its assets less efficiently than the SG REITs industry average last year based on Return on Assets.
- It is difficult to establish if Dasin Retail Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Dasin Retail Trust's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Dasin Retail Trust has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Dasin Retail Trust's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Dasin Retail Trust's finances.
The net worth of a company is the difference between its assets and liabilities.
- Dasin Retail Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Dasin Retail Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Dasin Retail Trust Company Filings, last reported 3 months ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 775.95 | 500.51 | 69.19 |
| 2018-09-30 | 778.39 | 498.49 | 43.14 |
| 2018-06-30 | 828.49 | 497.97 | 37.61 |
| 2018-03-31 | 867.94 | 489.81 | 33.69 |
| 2017-12-31 | 848.89 | 483.21 | 40.67 |
| 2017-09-30 | 833.64 | 484.57 | 69.15 |
| 2017-06-30 | 818.87 | 483.65 | 71.29 |
| 2017-03-31 | 585.88 | 234.92 | 62.31 |
| 2016-12-31 | 458.14 | 106.54 | 16.55 |
| 2016-09-30 | 547.73 | 242.96 | 15.60 |
| 2016-06-30 | 547.73 | 242.96 | 15.60 |
| 2016-03-31 | |||
| 2015-12-31 | 586.06 | 261.70 | 16.81 |
| 2014-12-31 | |||
| 2013-12-31 |
- Dasin Retail Trust's level of debt (64.5%) compared to net worth is high (greater than 40%).
- Unable to establish if Dasin Retail Trust's debt level has increased without past 5-year debt data.
- Debt is not well covered by operating cash flow (10%, less than 20% of total debt).
- Dasin Retail Trust is making a loss, therefore interest payments are not well covered by earnings.
Financial health checks
We assess Dasin Retail Trust's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Dasin Retail Trust has a total score of 0/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Dasin Retail Trust's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
SGD2,000 of
Dasin Retail Trust
shares you are expected to receive
SGD164
in your first year as a dividend.
Dividend Amount
- Dasin Retail Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.49%).
- Dasin Retail Trust's dividend is above the markets top 25% of dividend payers in Singapore (5.46%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 1 Analyst Estimates (S&P Global) | See Below |
| Singapore REITs Industry Average Dividend Yield | Market Cap Weighted Average of 41 Stocks | 5.6% |
| Singapore Market Average Dividend Yield | Market Cap Weighted Average of 278 Stocks | 3.9% |
| Singapore Minimum Threshold Dividend Yield | 10th Percentile | 1.6% |
| Singapore Bottom 25% Dividend Yield | 25th Percentile | 2.5% |
| Singapore Top 25% Dividend Yield | 75th Percentile | 5.5% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in SGD) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | 0.08 | 1.00 |
| 2019-12-31 | 0.07 | 1.00 |
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-25 | 0.072 | 8.246 |
| 2018-08-10 | 0.077 | 8.942 |
| 2018-02-28 | 0.083 | 9.500 |
| 2017-11-10 | 0.060 | 7.202 |
| 2017-08-11 | 0.060 | 7.303 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Dasin Retail Trust has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Dasin Retail Trust only paid a dividend in the past 2 years.
Income/ dividend checks
We assess Dasin Retail Trust's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Dasin Retail Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Dasin Retail Trust has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| AGE | 49 |
CEO Bio
Yang Bin is the Chief Executive Officer of Dasin Retail Trust. From August 2003 to November 2007, he joined China Aviation Oil (Singapore) Co. Ltd. as an assistant to the CEO. He was also a member of the restructuring team tasked to rebuild the company between October 2004 and March 2006. After leaving China Aviation Oil (Singapore) Co. Ltd. In November 2007, he took on the role of CEO of an investment group based in Munich, Germany, between January 2008 and August 2010. From August 2010 to October 2011, he was the Chief Financial Officer of China BOCO Oil, a Hong Kong-incorporated company, where he was responsible for leading a team tasked to handle the company’s listing on the Canadian Stock Exchange. From November 2011 to December 2012, he was the President of Titan Shipyard Ltd in PRC, where he was responsible for the overall management of the company and led a successful equity and liability restructuring of the company. Between April 2013 and May 2014, he helped to establish the Fosun Energy Group in PRC and was the Deputy General Manager and Chief Financial Officer of Fosun Energy Group, where he was responsible for leading investment teams dealing in industries ranging from oil and gas, renewable energy, chemicals and finance. At Fosun Energy Group, He also oversaw global mergers and acquisitions and investments, completed successfully the privatisation of a listed company of considerable size, and completed the equity investments in a number of PRC state-owned companies and the acquisition of projects inside and outside of PRC. From June 2014 to May 2015, He was a private investor focusing on venture capital investments in companies in the real estate and internet business. From June 2015 to the present, he has been an IPO team member of the Sponsor, where he assists the Sponsor in the listing of Dasin Retail Trust. He graduated with a Bachelor of Economics from Guangdong Commercial College, PRC, in June 1992. In July 2003, he obtained his Masters of Business Administration from Sun Yat-Sen University in PRC. He received the Senior Accountant accreditation from PRC Examination and Appraisal Committee for Professional and Technical Titles in December 2002.
CEO Compensation
- Insufficient data for Yang to compare compensation growth.
- Insufficient data for Yang to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team
Yang Bin
Chief Executive Officer
49
Steven Ng
Chief Financial Officer
43
Chee Lun
Company Secretary of Dasin Retail Trust Management Pte. Ltd - Management Company
Board of Directors
Zhang Zhencheng
Chairman of the Board
47
Zhongming Zhang
Deputy Chairman
28
0.7 yrs
Huay Lim Tan
Independent Director
61
Yong Cao
Lead Independent Director
64
Sun Shu
Independent Director
65
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SGD) | Value (SGD) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 24. Oct 18 | Buy | Zhang Zhencheng | Individual | 17. Oct 18 | 17. Oct 18 | 3,500,000 | SGD0.87 | SGD3,027,498 | ||
Management checks
We assess Dasin Retail Trust's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Dasin Retail Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
How Does Dasin Retail Trust (SGX:CEDU) Stand Up To These Simple Dividend Safety Checks?
Today we'll take a closer look at Dasin Retail Trust (SGX:CEDU) from a dividend investor's perspective. … Unfortunately, one common occurrence with dividend companies is for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. … SGX:CEDU Historical Dividend Yield, April 15th 2019
Simply Wall St - – Full articleCould Dasin Retail Trust's (SGX:CEDU) Investor Composition Influence The Stock Price?
A look at the shareholders of Dasin Retail Trust (SGX:CEDU) can tell us which group is most powerful. … Dasin Retail Trust is a smaller company with a market capitalization of S$500m, so it may still be flying under the radar of many institutional investors. … Check out our latest analysis for Dasin Retail Trust
Simply Wall St - – Full articleHave Insiders Been Buying Dasin Retail Trust (SGX:CEDU) Shares?
So shareholders might well want to know whether insiders have been buying or selling shares in Dasin Retail Trust (SGX:CEDU). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At Dasin Retail Trust.
Simply Wall St - – Full articleInvesting In Property Through Dasin Retail Trust (SGX:CEDU)
Dasin Retail Trust is a S$470m. … real estate investment trust (REIT) based in Singapore, Singapore. … View our latest analysis for Dasin Retail Trust
Simply Wall St - – Full articleWhat Percentage Of Dasin Retail Trust (SGX:CEDU) Shares Do Insiders Own?
If you want to know who really controls Dasin Retail Trust (SGX:CEDU), then you'll have to look at the makeup of its share registry. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Dasin Retail Trust is a smaller company with a market capitalization of S$481m, so it may still be flying under the radar of many institutional investors.
Simply Wall St - – Full articleWith An ROE Of 0.5%, Can Dasin Retail Trust (SGX:CEDU) Catch Up To The Industry?
Dasin Retail Trust (SGX:CEDU) delivered a less impressive 0.5% ROE over the past year, compared to the 6.6% return generated by its industry. … Knowing these components can change your views on CEDU's below-average returns. … See our latest analysis for Dasin Retail Trust
Simply Wall St - – Full articleIs Dasin Retail Trust (SGX:CEDU) A Healthy REIT?
Dasin Retail Trust is a S$482.95m. … real estate investment trust (REIT) based in Singapore, Singapore. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.
Simply Wall St - – Full articleCompany Info
Description
Dasin Retail Trust specializes in the investments and owns, develops, and operates land, uncompleted developments, and income-producing real estate properties in Greater China, mainly for retail use.
Details
| Name: | Dasin Retail Trust |
| CEDU | |
| Exchange: | SGX |
| Founded: | |
| SGD491,837,373 | |
| 558,906,106 | |
| Website: | http://dasintrust.com |
| Address: |
Dasin Retail Trust 8 Marina Boulevard No. 14-02, Marina Bay Financial Centre Tower 1, Singapore, 018981, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | CEDU | Units | Singapore Exchange | SG | SGD | 20. Jan 2017 |
Number of employees
Current staff
Industry
| Retail REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/25 13:54 |
| End of day share price update: | 2019/04/25 00:00 |
| Last estimates confirmation: | 2019/02/28 |
| Last earnings filing: | 2019/04/03 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
