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OKH Global

SGX:S3N
Snowflake Description

Undervalued with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
S3N
SGX
SGD19M
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

OKH Global Ltd., an investment holding company, engages in the integrated property development activities primarily focusing on logistics and industrial properties in Singapore. The last earnings update was 36 days ago. More info.


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  • OKH Global has significant price volatility in the past 3 months.
S3N Share Price and Events
7 Day Returns
13.3%
SGX:S3N
-0.1%
SG Real Estate
0.8%
SG Market
1 Year Returns
-48.5%
SGX:S3N
-7.1%
SG Real Estate
-3%
SG Market
S3N Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
OKH Global (S3N) 13.3% -15% -10.5% -48.5% -79.3% -97.1%
SG Real Estate -0.1% -0.7% -3.2% -7.1% 6.3% -10.1%
SG Market 0.8% 0.9% 0.1% -3% 10.1% -6.3%
1 Year Return vs Industry and Market
  • S3N underperformed the Real Estate industry which returned -7.1% over the past year.
  • S3N underperformed the Market in Singapore which returned -3% over the past year.
Price Volatility
S3N
Industry
5yr Volatility vs Market

Value

 Is OKH Global undervalued based on future cash flows and its price relative to the stock market?

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 OKH Global 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for OKH Global.

SGX:S3N Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 14.2%
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.

Calculation of Discount Rate/ Cost of Equity for SGX:S3N
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Real Estate Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.026 (1 + (1- 17%) (834.88%))
5.78
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (2 * 5.96%)
14.22%

Discounted Cash Flow Calculation for SGX:S3N using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for OKH Global 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.

SGX:S3N DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 14.22%)
2019 8.44 Est @ -14.55% 7.39
2020 7.64 Est @ -9.5% 5.86
2021 7.19 Est @ -5.96% 4.82
2022 6.94 Est @ -3.48% 4.07
2023 6.82 Est @ -1.74% 3.51
2024 6.78 Est @ -0.53% 3.05
2025 6.80 Est @ 0.32% 2.68
2026 6.86 Est @ 0.91% 2.37
2027 6.95 Est @ 1.33% 2.10
2028 7.07 Est @ 1.62% 1.87
Present value of next 10 years cash flows SGD37.72
SGX:S3N DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD7.07 × (1 + 2.3%) ÷ (14.22% – 2.3%)
SGD60.66
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD60.66 ÷ (1 + 14.22%)10
SGD16.04
SGX:S3N Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD37.72 + SGD16.04
SGD53.77
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD53.77 / 1,128.66
SGD0.05
SGX:S3N Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.05
Current discount Discount to share price of SGD0.02
= -1 x (SGD0.02 - SGD0.05) / SGD0.05
64.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price OKH Global is available for.
Intrinsic value
>50%
Share price is SGD0.017 vs Future cash flow value of SGD0.04764
Current Discount Checks
For OKH Global to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • OKH Global's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • OKH Global'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 OKH Global's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are OKH Global's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:S3N PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.00
SGX:S3N Share Price ** SGX (2019-06-14) in SGD SGD0.02
Singapore Real Estate Industry PE Ratio Median Figure of 39 Publicly-Listed Real Estate Companies 9.36x
Singapore Market PE Ratio Median Figure of 323 Publicly-Listed Companies 12.68x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of OKH Global.

SGX:S3N PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:S3N Share Price ÷ EPS (both in SGD)

= 0.02 ÷ 0.00

5.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • OKH Global is good value based on earnings compared to the SG Real Estate industry average.
  • OKH Global is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does OKH Global's expected growth come at a high price?
Raw Data
SGX:S3N PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Singapore Real Estate Industry PEG Ratio Median Figure of 13 Publicly-Listed Real Estate Companies 0.55x
Singapore Market PEG Ratio Median Figure of 119 Publicly-Listed Companies 1.6x

*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 OKH Global, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on OKH Global's assets?
Raw Data
SGX:S3N PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD0.08
SGX:S3N Share Price * SGX (2019-06-14) in SGD SGD0.02
Singapore Real Estate Industry PB Ratio Median Figure of 47 Publicly-Listed Real Estate Companies 0.51x
Singapore Market PB Ratio Median Figure of 431 Publicly-Listed Companies 0.72x
SGX:S3N PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:S3N Share Price ÷ Book Value per Share (both in SGD)

= 0.02 ÷ 0.08

0.21x

* Primary Listing of OKH Global.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • OKH Global is good value based on assets compared to the SG Real Estate industry average.
X
Value checks
We assess OKH Global's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Real Estate industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Real Estate industry average (and greater than 0)? (1 check)
  5. OKH Global has a total score of 5/6, 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

 How is OKH Global expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 OKH Global 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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!
Annual Growth Rate
-4.3%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is OKH Global expected to grow at an attractive rate?
  • Unable to compare OKH Global's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare OKH Global's earnings growth to the Singapore market average as no estimate data is available.
  • Unable to compare OKH Global's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:S3N Future Growth Rates Data Sources
Data Point Source Value (per year)
Singapore Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -4.3%
Singapore Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.6%
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
Raw Data
SGX:S3N Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:S3N Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 21 10 4
2018-12-31 24 5 1
2018-09-30 26 5 4
2018-06-30 25 -6 5
2018-03-31 25 -5 -45
2017-12-31 126 7 -67
2017-09-30 123 13 -69
2017-06-30 135 27 -70
2017-03-31 114 17 -39
2016-12-31 88 37 -11
2016-09-30 89 40 -14
2016-06-30 76 30 -17

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if OKH Global is high growth as no earnings estimate data is available.
  • Unable to determine if OKH Global is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SGX:S3N Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from OKH Global Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:S3N Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 0.00
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 -0.04
2017-12-31 -0.06
2017-09-30 -0.06
2017-06-30 -0.06
2017-03-31 -0.04
2016-12-31 -0.01
2016-09-30 -0.02
2016-06-30 -0.03

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if OKH Global will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether OKH Global is trading at OKH Global'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. OKH Global's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Real Estate companies here
  3. OKH Global's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess OKH Global's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Singapore market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Singapore market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
OKH Global has a total score of 0/6, 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 OKH Global 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
Below we compare OKH Global's growth in the last year to its industry (Real Estate).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • OKH Global's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • OKH Global has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • OKH Global has become profitable in the last year making it difficult to compare the SG Real Estate industry average.
Earnings and Revenue History
OKH Global's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from OKH Global Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:S3N Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 21.30 3.61 7.29
2018-12-31 23.84 0.65 7.34
2018-09-30 25.91 4.14 7.86
2018-06-30 25.27 4.60 8.27
2018-03-31 24.64 -45.16 7.44
2017-12-31 125.93 -66.61 16.40
2017-09-30 122.54 -68.76 17.32
2017-06-30 134.54 -70.34 18.27
2017-03-31 113.78 -38.51 22.33
2016-12-31 88.26 -10.53 16.34
2016-09-30 88.70 -13.53 15.27
2016-06-30 75.78 -17.28 17.01
2016-03-31 91.83 11.67 17.61
2015-12-31 15.50 7.07 15.92
2015-09-30 242.40 44.00 21.02
2015-06-30 252.66 46.24 21.91
2015-03-31 460.16 61.52 13.49
2014-12-31 462.07 64.06 16.04
2014-09-30 235.16 25.37 14.19
2014-06-30 223.12 24.16 14.11
2014-03-31 13.32 -9.88 21.47
2013-12-31 9.35 -0.07 20.70
2013-09-30 21.17 -1.03 20.84
2013-06-30 24.48 1.13 18.87
2013-03-31 119.61 24.08 19.31
2012-06-30 109.12 16.17 12.65

*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.
  • OKH Global has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • OKH Global used its assets more efficiently than the SG Real Estate industry average last year based on Return on Assets.
  • OKH Global has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess OKH Global's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Real Estate industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
OKH Global has a total score of 2/6, 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 OKH Global'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 OKH Global's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • OKH Global is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • OKH Global's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of OKH Global's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.6x 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.
Raw Data

All data from OKH Global Company Filings, last reported 2 months ago.

SGX:S3N Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 90.45 160.19 6.39
2018-12-31 91.05 161.07 6.48
2018-09-30 91.53 161.37 7.16
2018-06-30 92.30 163.39 6.43
2018-03-31 86.83 171.72 7.78
2017-12-31 90.40 173.69 8.87
2017-09-30 87.39 173.84 9.91
2017-06-30 87.70 184.89 20.26
2017-03-31 132.68 232.25 36.01
2016-12-31 157.48 229.35 28.70
2016-09-30 156.65 216.26 24.62
2016-06-30 108.27 273.69 44.95
2016-03-31 131.28 299.91 65.25
2015-12-31 131.02 290.41 37.85
2015-09-30 133.08 274.74 23.82
2015-06-30 139.09 260.90 19.34
2015-03-31 121.84 226.54 19.83
2014-12-31 123.67 211.21 58.36
2014-09-30 74.83 283.30 65.03
2014-06-30 78.66 323.75 84.23
2014-03-31 74.55 320.05 60.72
2013-12-31 73.70 303.86 52.43
2013-09-30 34.02 284.27 47.25
2013-06-30 40.12 203.15 52.47
2013-03-31 41.13 191.88 28.63
2012-06-30 27.36 225.86 23.69
  • OKH Global's level of debt (177.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (429.1% vs 177.1% today).
  • Debt is not well covered by operating cash flow (6.5%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 0.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess OKH Global's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. OKH Global has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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 OKH Global'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
Dividend payments
0%
Current annual income from OKH Global dividends.
If you bought SGD2,000 of OKH Global shares you are expected to receive SGD0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate OKH Global's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate OKH Global's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
Raw Data
SGX:S3N Annualized Past and Future Dividends
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 0 Analyst Estimates (S&P Global) See Below
Singapore Real Estate Industry Average Dividend Yield Market Cap Weighted Average of 33 Stocks 3.2%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 276 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.7%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.6%
Singapore Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as OKH Global has not reported any payouts.
  • Unable to verify if OKH Global's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of OKH Global's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as OKH Global has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess OKH Global's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can OKH Global afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. OKH Global has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of OKH Global's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Wai Han Lock
COMPENSATION SGD483,534
AGE 50
TENURE AS CEO 2.7 years
CEO Bio

Mr. Lock Wai Han has been Chief Executive Officer and Executive Director at OKH Global Ltd. since October 5, 2016. Mr. Lock serves as the Chief Executive Officer at CapitaMalls Beijing Business Co., Ltd. He served as the Group Chief Executive Officer and Executive Director at Rowsley Ltd. since November 1, 2013 until January 1, 2016. He was Communications and the Arts Deputy Secretary at Ministry of Information from April 2008 to February 2010. He was Chief Corporate Officer of CapitaMalls Asia from March 2010 to December 2010. He was Deputy Chief Executive Officer & General Manager (North East Region) at CapitaMalls Asia (China) from January 2011 to May 2011. He served as the Chief Executive Officer of CapitaMalls Asia (China) from June 2011 to August 2013. He was Property Consultant of Singpost Ltd from March 2016 to June 2016. He served as Non-Executive Non-Independent Director at Secura Group Limited since October 16, 2015 until March 31, 2018. He has been an Independent Non-Executive Director of ARA Trust Management (Suntec) Limited (as manager of Suntec Real Estate Investment Trust) since August 1, 2018. He has been a Non-Executive Director of Singapore Sports School Ltd since October 1, 2014. He has been Non-Executive Chairman of Media Literacy Council August 1, 2016. He has been an Executive Director of OKH Management Pte Ltd since November 14, 2016. He has been an Executive Director of OKH (Woodlands) Pte Ltd, Galaxia Development Pte Ltd, OKH Loyang Pte Ltd, OKH Transhub Pte Ltd, Chronoz Investment Pte Ltd and OKH Capital Pte ltd November 14, 2016. He has been an Executive Director of OKH Holdings Pte Ltd, OKH Development Pte Ltd, OKH DLRE JV Pte Ltd and OKH Buroh Pte Ltd December 2, 2016. He has been a Non-Executive Director of Majuven Pte Ltd and Majuven Fund 1 Ltd since July 4, 2017. He has been a Non-Executive Director of Majuven GP2 Ltd since September 5, 2017. He has been a Non-Executive Director of Pan Asia Logistics Investments Holdings Pte Ltd since November 30, 2017. He served as Non-Executive Director at CapitaLand Malaysia Mall REIT Management Sdn. Bhd. He served as Non Independent Non executive director of CapitaMalls Malaysia REIT Mgmt Sdn Bhd - Manager of CapitaLand Malaysia Mall Trust from June 2010 to August 2011. He was a Member of Singapore-Shandong Business from April 1, 2011 to August 31, 2013 and Singapore-Liaoning Economic & Trade Council from September 1, 2011 to August 31, 2013. He was a Director of CMA China III Pte Ltd from July 5, 2011 to August 16, 2013. He was a Director of Capitaland Retail (Beijing) Facilities& Projects Consulting Co.; Ltd. January 17, 2011 to September 10, 2013. He was a Director of Capitaland Hualian Management & Consulting (Beijing) Co.; Ltd. from January 17, 2011 to September 10, 2013 (wound up). He was a Director of CapitaRetail (Beijing) Xinjia Investment Consulting Co.; Ltd. from January 17, 2011 to September 1, 2013, CapitaMalls Qingdao XinDuXin Commercial Property Co.; Ltd. from September 27, 2012 to September 1, 2013, Shanghai Yongwei Real Estate Company Limited from November 20, 2012 to September 1, 2013, Exuberant Holdings Limited from December 31, 2010 to August 16, 2013, Fast Action Investments Limited from June 27, 2011 to August 16, 2013, Giant Castle Investments Limited from June 27, 2011 to August 16, 2013, Gold Achiever Limited from July 5, 2011 to August 16, 2013, Navin Holdings Limited from June 27, 2011 to August 16, 2013, Progressive Alliance Holdings Limited from June 27, 2011 to August 16, 2013, CMA China II Changning Limited from December 21, 2010 to August 16, 2013, Chisholme Limited from June 27, 2011 to August 16, 2013, CMA China II Developments (HK1) Limited from June 27, 2011 to August 16, 2013, Gold Conqueror Limited from July 5, 2011 to August 16, 2013, Gold Runner Limited July 5, 2011 to August 16, 2013, RSP Architects Planners & Engineers (Pte) Ltd Director November 1, 2013 to January 1, 2016, SSP Innovations Pte Ltd from January 1, 2014 to January 1, 2016, Rowsley Sports Pte. Ltd. from January 1, 2014 to January 1, 2016, Renewable Metal Resources Pte. Ltd. from January 1, 2014 to January 1, 2016, Vantage Bay JB Sdn. Bhd. from January 28, 2014 to January 1, 2016. He was a Director of SKIES VB Sdn. Bhd. from February 18, 2014 to January 1, 2016. He served as a Director of VB1 Property Sdn. Bhd., VB2 Property Sdn. Bhd., VB3 Property Sdn. Bhd., VB4 Property Sdn. Bhd. and VB5 Property Sdn. Bhd. from April 03 2014 to January 1, 2016. He was a Director of Rowsley (SM) Pte. Ltd. and Rowsley Hospitality Holdings Pte. Ltd. from August 19, 2015 to January 1, 2016. He was a Director of Rowsley (CFL) Pte. Ltd. and Rowsley (HFM) Pte. Ltd. from August 19, 2015 to January 1, 2016. He was a Director of OKH Spaze Pte. Ltd., OKH China Pte. Ltd. and Green Synergy Pte. Ltd. from November 14, 2016 to March 01, 2018. He served as a Director of Foxx Media Pte. Ltd. from November 14, 2016 to March 13, 2018. Mr. Lock was awarded the Singapore Police Force overseas scholarship in 1986 and graduated from the University of Cambridge with a Bachelor of Arts in Engineering in 1989. Mr. Lock holds a Master of Arts in Engineering from the University of Cambridge, United Kingdom in 1993 and a Master of Science in Management from the Leland Stanford Junior University, United States in 1999.

CEO Compensation
  • Wai Han's compensation has increased in line with OKH Global recently becoming profitable.
  • Wai Han's remuneration is higher than average for companies of similar size in Singapore.
Management Team

Wai Han Lock

TITLE
CEO & Executive Director
COMPENSATION
SGD484K
AGE
50
TENURE
2.7 yrs

Khay Wee Ng

TITLE
Financial Controller

Geok Chye Tan

TITLE
Head of Construction Services Division
COMPENSATION
SGD327K
AGE
60

Kok Liang Chew

TITLE
Company Secretary
Board of Directors Tenure

Average tenure and age of the OKH Global board of directors in years:

2.8
Average Tenure
51.5
Average Age
  • The average tenure for the OKH Global board of directors is less than 3 years, this suggests a new board.
Board of Directors

Serena Tang

TITLE
Non-Executive Chairman
TENURE
2.8 yrs

Wai Han Lock

TITLE
CEO & Executive Director
COMPENSATION
SGD484K
AGE
50
TENURE
2.7 yrs

Soon Teik Ong

TITLE
Lead Independent Director
COMPENSATION
SGD67K
AGE
59
TENURE
6.3 yrs

Eng Hoe Lim

TITLE
Non-Executive Independent Director
COMPENSATION
SGD52K
AGE
53
TENURE
5.7 yrs

Nicole Ng

TITLE
Non-Executive Independent Director
COMPENSATION
SGD67K
AGE
44
TENURE
2.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (SGD) Value (SGD)
21. Nov 18 Buy Lee Yu Li Individual 20. Nov 18 20. Nov 18 125,732,000 SGD0.02 SGD2,514,627
21. Nov 18 Sell Yau Lam Fong Individual 20. Nov 18 20. Nov 18 -125,732,000 SGD0.02 SGD-2,514,627
X
Management checks
We assess OKH Global's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. OKH Global 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 Much Of OKH Global Ltd. (SGX:S3N) Do Insiders Own?

See our latest analysis for OKH Global SGX:S3N Ownership Summary, May 16th 2019 What Does The Lack Of Institutional Ownership Tell Us About OKH Global? … We don't tend to see institutional investors holding stock of companies that are very risky, thinly traded, or very small. … Private Company Ownership It seems that Private Companies own 46%, of the S3N stock.

Simply Wall St -

Is OKH Global Ltd. (SGX:S3N) Investing Your Capital Efficiently?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Those Who Purchased OKH Global (SGX:S3N) Shares Five Years Ago Have A 97% Loss To Show For It

While OKH Global made a small profit, in the last year, we think that the market is probably more focussed on the top line growth at the moment. … As a general rule, if the market is looking past earnings to focus on revenue, there is a hope for, or expectation of, strong growth. … In the last five years OKH Global saw its revenue shrink by 28% per year.

Simply Wall St -

What Percentage Of OKH Global Ltd. (SGX:S3N) Shares Do Insiders Own?

Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … With a market capitalization of S$21m, OKH Global is a small cap stock, so it might not be well known by many institutional investors. … institutional investors have not yet purchased shares.

Simply Wall St -

Who Are OKH Global Ltd's (SGX:S3N) Major Shareholders?

In this analysis, my focus will be on developing a perspective on OKH Global Ltd’s (SGX:S3N) latest ownership structure, a less discussed, but important factor. … The impact of a company's ownership structure affects both its short- and long-term performance. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

OKH Global Ltd's (SGX:S3N): From Cash To Ash?

Cash is crucial to run a business, and if a company burns through its reserves fast, it will need to come back to market for additional capital raising. … With a negative operating cash flow of -S$4.68M, OKH Global is chipping away at its S$7.78M cash reserves in order to run its business. … The cash burn analysis result indicates a cash constraint for the company, due to its current level of cash reserves.

Simply Wall St -

With A -17.27% Earnings Drop, Did OKH Global Ltd (SGX:S3N) Really Underperform?

After reading OKH Global Ltd's (SGX:S3N) most recent earnings announcement (31 March 2018), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … SGX:S3N Income Statement May 12th 18 We can further assess OKH Global's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past five years OKH Global's top-line has grown by a mere 3.31%, on average.

Simply Wall St -

Breaking Down OKH Global Ltd's (SGX:S3N) Ownership Structure

Today, I will be analyzing OKH Global Ltd’s (SGX:S3N) recent ownership structure, an important but not-so-popular subject among individual investors. … Check out our latest analysis for OKH Global SGX:S3N Ownership_summary Mar 24th 18 Institutional Ownership Due to the big order sizes of institutional investors, a company's shares can experience large, one-sided momentum, driven by high volume of shares removed from, or injected into, the market. … Insider Ownership Insiders form another group of important ownership types as they manage the company's operations and decide the best use of capital.

Simply Wall St -

How Financially Strong Is OKH Global Ltd (SGX:S3N)?

Moreover, S3N has generated cash from operations of S$26.86M during the same period of time, leading to an operating cash to total debt ratio of 14.53%, meaning that S3N’s current level of operating cash is not high enough to cover debt. … Maintaining a high level of debt, while revenues are still below costs, can be dangerous as liquidity tends to dry up in unexpected downturns.Next Steps: S3N’s debt and cash flow levels indicate room for improvement. … Its cash flow coverage of less than a quarter of debt means that operating efficiency could be an issue.

Simply Wall St -

Is OKH Global Ltd (SGX:S3N) Thriving Or Barely Surviving In The Capital Goods Sector?

Below, I will examine the sector growth prospects, as well as evaluate whether OKH Global is lagging or leading its competitors in the industry. … In the past year, the industry delivered negative growth of -8.11%, underperforming the Singapore market growth of 7.92%. … If your initial investment thesis is around the growth prospects of OKH Global, there are other E&C companies that have delivered higher growth, and perhaps trading at a discount to the industry average.

Simply Wall St -

Company Info

Description

OKH Global Ltd., an investment holding company, engages in the integrated property development activities primarily focusing on logistics and industrial properties in Singapore. It operates through Construction Contractor, Property Development, and Property Investment segments. The Construction Contractor segment provides general builder and construction contractor, as well as general engineering services; and sells construction materials. The Property Development segment develops industrial properties. The Property Investment segment leases investment properties. OKH Global Ltd. also offers treasury management, as well as advertising and related services. The company was formerly known as Sinobest Technology Holdings Ltd. and changed its name to OKH Global Ltd. in April 2013. OKH Global Ltd. was founded in 1998 and is headquartered in Singapore.

Details
Name: OKH Global Ltd.
S3N
Exchange: SGX
Founded: 1998
SGD19,187,176
1,128,657,445
Website: http://www.okh.com.sg
Address: OKH Global Ltd.
LHK Building,
No. 02-06, 701 Sims Drive,
Singapore,
387383,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX S3N Ordinary Shares Singapore Exchange SG SGD 30. Jan 2013
Number of employees
Current staff
Staff numbers
0
OKH Global employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 13:02
End of day share price update: 2019/06/14 00:00
Last earnings filing: 2019/05/13
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/06/30


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.