SGX:M1GU

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Sabana Shari'ah Compliant Industrial Real Estate Investment Trust

Executive Summary

Sabana REIT was listed on the SGX-ST on 26 November 2010. More Details


Snowflake Analysis

Moderate growth potential and slightly overvalued.

Share Price & News

How has Sabana Shari'ah Compliant Industrial Real Estate Investment Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.6%

M1GU

-0.2%

SG REITs

1.3%

SG Market


1 Year Return

-17.8%

M1GU

-13.0%

SG REITs

-1.6%

SG Market

Return vs Industry: M1GU underperformed the SG REITs industry which returned -9.5% over the past year.

Return vs Market: M1GU matched the SG Market which returned -17.9% over the past year.


Shareholder returns

M1GUIndustryMarket
7 Day-2.6%-0.2%1.3%
30 Day-2.6%-3.6%2.2%
90 Day0%-0.2%6.6%
1 Year-13.9%-17.8%-8.4%-13.0%3.5%-1.6%
3 Year-6.7%-22.9%17.3%-2.3%-7.2%-18.6%
5 Year-19.8%-51.3%45.6%7.6%17.0%-4.4%

Long-Term Price Volatility Vs. Market

How volatile is Sabana Shari'ah Compliant Industrial Real Estate Investment Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Sabana Shari'ah Compliant Industrial Real Estate Investment Trust undervalued compared to its fair value and its price relative to the market?

47.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: M1GU (SGD0.37) is trading below our estimate of fair value (SGD0.71)

Significantly Below Fair Value: M1GU is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: M1GU is unprofitable, so we can't compare its PE Ratio to the SG REITs industry average.

PE vs Market: M1GU 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 M1GU's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: M1GU's PB Ratio (0.7x) is in line with the SG REITs industry average.


Next Steps

Future Growth

How is Sabana Shari'ah Compliant Industrial Real Estate Investment Trust forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

66.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: M1GU is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: M1GU is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: M1GU's is expected to become profitable in the next 3 years.

Revenue vs Market: M1GU's revenue (4.8% per year) is forecast to grow slower than the SG market (6.1% per year).

High Growth Revenue: M1GU's revenue (4.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: M1GU's Return on Equity is forecast to be low in 3 years time (5.2%).


Next Steps

Past Performance

How has Sabana Shari'ah Compliant Industrial Real Estate Investment Trust performed over the past 5 years?

36.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: M1GU is currently unprofitable.

Growing Profit Margin: M1GU is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: M1GU is unprofitable, but has reduced losses over the past 5 years at a rate of 36.7% per year.

Accelerating Growth: Unable to compare M1GU's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: M1GU is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-6.7%).


Return on Equity

High ROE: M1GU has a negative Return on Equity (-5.48%), as it is currently unprofitable.


Next Steps

Financial Health

How is Sabana Shari'ah Compliant Industrial Real Estate Investment Trust's financial position?


Financial Position Analysis

Short Term Liabilities: M1GU's short term assets (SGD24.8M) do not cover its short term liabilities (SGD152.5M).

Long Term Liabilities: M1GU's short term assets (SGD24.8M) do not cover its long term liabilities (SGD235.9M).


Debt to Equity History and Analysis

Debt Level: M1GU's debt to equity ratio (53.4%) is considered high.

Reducing Debt: M1GU's debt to equity ratio has reduced from 62.2% to 53.4% over the past 5 years.

Debt Coverage: M1GU's debt is not well covered by operating cash flow (15.4%).

Interest Coverage: M1GU is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Sabana Shari'ah Compliant Industrial Real Estate Investment Trust current dividend yield, its reliability and sustainability?

2.54%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: M1GU's dividend (2.54%) is higher than the bottom 25% of dividend payers in the SG market (2.5%).

High Dividend: M1GU's dividend (2.54%) is low compared to the top 25% of dividend payers in the SG market (5.43%).


Stability and Growth of Payments

Stable Dividend: M1GU has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: M1GU has only been paying a dividend for 9 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.7%), M1GU'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

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

1.8yrs

Average management tenure


CEO

Donald Han (55 yo)

2.67yrs

Tenure

Mr. Yong Lee Han, also known as Donald, has been the Chief Executive Officer of Sabana Real Estate Investment Management Pte Ltd, a Manager of Sabana Shari'ah Compliant Industrial Real Estate Investment Tr...


Leadership Team

NamePositionTenureCompensationOwnership
Yong Lee Han
Chief Executive Officer of Sabana Real Estate Investment Management Pte Ltd2.67yrsno datano data
Wei Huang Lim
Senior Vice President of Finance for Sabana Real Estate Investment Management Pte Ltd0.83yrno datano data
Chan Yong Han
Compliance Officer of Sabana Real Estate Investment Management Pte Ltdno datano datano data
Angel Goh
Assistant Manager of Human Resources of Sabana Real Estate Investment Management Pte Ltdno datano datano data
Meow Cheng Siow
Head of Investments & Asset Management of Sabana Real Estate Investment Management Pte Ltd0.92yrno datano data
Form Po Cho
Company Secretary of Sabana Real Estate Investment Management Pte Ltd4.92yrsno datano data

1.8yrs

Average Tenure

Experienced Management: M1GU's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Heng Tew Wong
Independent Non-Executive Director of Sabana Real Estate Investment Management Pte Ltd1.08yrsS$18.20kno data
Shin Ein Ng
Independent Non-Executive Director of Sabana Real Estate Investment Management Pte Ltd1.08yrsS$20.80k0.036%
SGD 140.0k
Ashraf bin Mohammed Hashim
Member of Independent Shari'ah Committeeno datano datano data
Mohamed Ali Elgari
Member of Independent Shari'ah Committeeno datano datano data
Obiyathulla Bacha
Member of Independent Shari'ah Committeeno datano datano data
Cheong Hin Tan
Independent Chairman of Sabana Real Estate Investment Management Pte Ltd0.83yrS$60.80kno data

1.1yrs

Average Tenure

56yo

Average Age

Experienced Board: M1GU's board of directors are not considered experienced ( 1.1 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Sabana Shari'ah Compliant Industrial Real Estate Investment Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sabana Shari'ah Compliant Industrial Real Estate Investment Trust
  • Ticker: M1GU
  • Exchange: SGX
  • Founded: 2010
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Market Cap: S$389.641m
  • Shares outstanding: 1.05b
  • Website: https://www.sabana-reit.com

Location

  • Sabana Shari'ah Compliant Industrial Real Estate Investment Trust
  • 151 Lorong Chuan
  • No. 02-03 New Tech Park
  • Singapore
  • 556741
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
M1GUSGX (Singapore Exchange)YesUnitsSGSGDNov 2010
SBBS.FOTCPK (Pink Sheets LLC)YesUnitsUSUSDNov 2010

Biography

Sabana REIT was listed on the SGX-ST on 26 November 2010. It was established principally to invest in income-producing real estate used for industrial purposes, as well as real estate-related assets, in li...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/01 21:16
End of Day Share Price2020/09/01 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.