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TEE Land

SGX:S9B
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
S9B
SGX
SGD84M
Market Cap
  1. Home
  2. SG
  3. Real Estate
Company description

TEE Land Limited, an investment holding company, operates as a real estate developer and investor in Singapore, Malaysia, Thailand, Australia, and New Zealand. The last earnings update was 11 days ago. More info.


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S9B Share Price and Events
7 Day Returns
4.4%
SGX:S9B
0.5%
SG Real Estate
0.3%
SG Market
1 Year Returns
6.2%
SGX:S9B
-7%
SG Real Estate
-6.2%
SG Market
S9B Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TEE Land (S9B) 4.4% -0.5% 16% 6.2% -10.5% -38.4%
SG Real Estate 0.5% 2.5% 6.4% -7% 6% -4.9%
SG Market 0.3% 3.1% 3.7% -6.2% 8.5% -3%
1 Year Return vs Industry and Market
  • S9B outperformed the Real Estate industry which returned -7% over the past year.
  • S9B outperformed the Market in Singapore which returned -6.2% over the past year.
Price Volatility
S9B
Industry
5yr Volatility vs Market

Value

 Is TEE Land 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 TEE Land 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 TEE Land.

SGX:S9B 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:S9B
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 1.1
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.099 (1 + (1- 17%) (272.74%))
2.733
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:S9B using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TEE Land 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:S9B DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 14.22%)
2019 20.20 Est @ 34.05% 17.68
2020 25.15 Est @ 24.53% 19.28
2021 29.65 Est @ 17.86% 19.89
2022 33.56 Est @ 13.19% 19.71
2023 36.89 Est @ 9.93% 18.97
2024 39.71 Est @ 7.64% 17.88
2025 42.10 Est @ 6.04% 16.60
2026 44.18 Est @ 4.92% 15.25
2027 46.00 Est @ 4.13% 13.90
2028 47.65 Est @ 3.58% 12.60
Present value of next 10 years cash flows SGD171.77
SGX:S9B DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD47.65 × (1 + 2.3%) ÷ (14.22% – 2.3%)
SGD408.96
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD408.96 ÷ (1 + 14.22%)10
SGD108.18
SGX:S9B Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD171.77 + SGD108.18
SGD279.95
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD279.95 / 446.88
SGD0.63
SGX:S9B Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.63
Current discount Discount to share price of SGD0.19
= -1 x (SGD0.19 - SGD0.63) / SGD0.63
70%

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

Current Discount
Amount off the current price TEE Land is available for.
Intrinsic value
>50%
Share price is SGD0.188 vs Future cash flow value of SGD0.62646
Current Discount Checks
For TEE Land to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TEE Land's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TEE Land'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 TEE Land's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TEE Land's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:S9B PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-02-28) in SGD SGD-0.01
SGX:S9B Share Price ** SGX (2019-04-16) in SGD SGD0.19
Singapore Real Estate Industry PE Ratio Median Figure of 38 Publicly-Listed Real Estate Companies 9.52x
Singapore Market PE Ratio Median Figure of 328 Publicly-Listed Companies 13.23x

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

** Primary Listing of TEE Land.

SGX:S9B PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:S9B Share Price ÷ EPS (both in SGD)

= 0.19 ÷ -0.01

-30.38x

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

  • TEE Land is loss making, we can't compare its value to the SG Real Estate industry average.
  • TEE Land is loss making, we can't compare the value of its earnings to the Singapore market.
Price based on expected Growth
Does TEE Land's expected growth come at a high price?
Raw Data
SGX:S9B PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -30.38x
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 14 Publicly-Listed Real Estate Companies -0.16x
Singapore Market PEG Ratio Median Figure of 119 Publicly-Listed Companies 1.63x

*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 TEE Land, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TEE Land's assets?
Raw Data
SGX:S9B PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-02-28) in SGD SGD0.33
SGX:S9B Share Price * SGX (2019-04-16) in SGD SGD0.19
Singapore Real Estate Industry PB Ratio Median Figure of 46 Publicly-Listed Real Estate Companies 0.59x
Singapore Market PB Ratio Median Figure of 432 Publicly-Listed Companies 0.75x
SGX:S9B PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:S9B Share Price ÷ Book Value per Share (both in SGD)

= 0.19 ÷ 0.33

0.57x

* Primary Listing of TEE Land.

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

  • TEE Land is good value based on assets compared to the SG Real Estate industry average.
X
Value checks
We assess TEE Land'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. TEE Land 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

 How is TEE Land 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 TEE Land 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
-10.1%
Expected Real Estate industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TEE Land expected to grow at an attractive rate?
  • Unable to compare TEE Land's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare TEE Land's earnings growth to the Singapore market average as no estimate data is available.
  • Unable to compare TEE Land's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:S9B Future Growth Rates Data Sources
Data Point Source Value (per year)
Singapore Real Estate Industry Earnings Growth Rate Market Cap Weighted Average -10.1%
Singapore Real Estate Industry Revenue Growth Rate Market Cap Weighted Average 3.1%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.8%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:S9B Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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:S9B Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SGX:S9B Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-02-28 121 19 -3
2018-11-30 121 -80 -1
2018-08-31 120 -74 -7
2018-05-31 112 -68 -5
2018-02-28 111 -77 -8
2017-11-30 104 18 -9
2017-08-31 107 6 -2
2017-05-31 95 -21 -1
2017-02-28 79 -20 6
2016-11-30 64 -35 7
2016-08-31 50 -17 8
2016-05-31 40 2 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if TEE Land is high growth as no earnings estimate data is available.
  • Unable to determine if TEE Land 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:S9B Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from TEE Land Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:S9B Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SGX:S9B Past Financials Data
Date (Data in SGD Millions) EPS *
2019-02-28 -0.01
2018-11-30 0.00
2018-08-31 -0.02
2018-05-31 -0.01
2018-02-28 -0.02
2017-11-30 -0.02
2017-08-31 0.00
2017-05-31 0.00
2017-02-28 0.01
2016-11-30 0.02
2016-08-31 0.02
2016-05-31 0.02

*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 TEE Land will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether TEE Land is trading at TEE Land'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. TEE Land'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. TEE Land'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 TEE Land'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.
TEE Land 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 TEE Land 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 TEE Land'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.
  • TEE Land does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare TEE Land's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare TEE Land's 1-year growth to the SG Real Estate industry average as it is not currently profitable.
Earnings and Revenue History
TEE Land'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 TEE Land Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:S9B Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-02-28 121.33 -2.77 16.91
2018-11-30 120.68 -0.57 19.64
2018-08-31 120.15 -7.37 21.31
2018-05-31 111.92 -4.98 20.91
2018-02-28 111.17 -7.95 20.44
2017-11-30 103.67 -9.05 18.44
2017-08-31 106.87 -1.62 15.82
2017-05-31 94.69 -1.05 16.23
2017-02-28 78.95 6.07 15.81
2016-11-30 64.36 7.35 15.69
2016-08-31 50.17 8.16 16.11
2016-05-31 39.75 8.45 15.73
2016-02-29 52.64 8.68 15.07
2015-11-30 51.79 8.14 14.23
2015-08-31 57.07 9.10 13.10
2015-05-31 60.16 11.09 11.91
2015-02-28 38.55 12.17 9.93
2014-11-30 45.84 14.81 7.90
2014-08-31 33.16 14.00 6.97
2014-05-31 40.30 11.71 6.76
2014-02-28 47.09 6.40 7.07
2013-11-30 38.91 3.59 6.76
2013-08-31 39.65 1.86 6.10
2013-05-31 29.68 2.03 5.39
2013-02-28 16.77 0.73 3.40
2012-11-30 11.83 -0.49 3.43
2012-08-31 10.08 0.94 3.11
2012-05-31 7.91 1.54 2.57

*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 TEE Land has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if TEE Land has efficiently used its assets last year compared to the SG Real Estate industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if TEE Land improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess TEE Land'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.
TEE Land 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 TEE Land'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 TEE Land's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TEE Land is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TEE Land's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of TEE Land'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 covered by short term assets, assets are 1.7x 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 TEE Land Company Filings, last reported 1 month ago.

SGX:S9B Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-02-28 158.71 229.14 27.52
2018-11-30 160.19 231.02 26.34
2018-08-31 160.50 229.42 23.66
2018-05-31 163.40 241.25 29.23
2018-02-28 164.66 253.40 20.28
2017-11-30 161.45 165.88 23.73
2017-08-31 168.39 180.79 24.87
2017-05-31 172.22 192.95 34.32
2017-02-28 176.65 216.85 18.31
2016-11-30 175.24 220.94 28.41
2016-08-31 173.54 210.61 24.61
2016-05-31 172.63 192.52 30.00
2016-02-29 169.17 189.55 16.81
2015-11-30 167.91 176.40 13.31
2015-08-31 166.39 177.82 18.72
2015-05-31 167.08 184.77 18.62
2015-02-28 151.04 168.78 25.32
2014-11-30 151.66 172.30 34.15
2014-08-31 152.41 149.95 23.71
2014-05-31 152.00 136.87 25.88
2014-02-28 146.55 96.62 24.99
2013-11-30 143.12 96.44 34.62
2013-08-31 146.07 96.46 57.77
2013-05-31 86.50 94.38 29.06
2013-02-28
2012-11-30 15.96 84.69 8.86
2012-08-31 14.38 58.79 8.52
2012-05-31 14.38 58.79 8.52
  • TEE Land's level of debt (144.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (66.2% vs 144.4% today).
  • Debt is not well covered by operating cash flow (8.2%, less than 20% of total debt).
  • TEE Land is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess TEE Land'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. TEE Land 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 TEE Land'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
1.6%
Current annual income from TEE Land dividends.
If you bought SGD2,000 of TEE Land shares you are expected to receive SGD32 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?
  • TEE Land's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).
  • TEE Land's dividend is below 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.
Raw Data
SGX:S9B 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 34 Stocks 3%
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.

SGX:S9B Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
SGX:S9B Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2018-10-10 0.003 1.757
2018-04-12 0.005 2.842
2018-01-15 0.000 0.000
2017-10-11 0.000 0.000
2017-09-14 0.000 0.000
2017-07-26 0.000 0.000
2016-09-08 0.006 3.211
2015-09-15 0.011 5.289
2014-08-07 0.015 5.724
2014-04-08 0.010 3.152
2014-02-19 0.010 3.443
2013-09-26 0.010 2.980

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

  • TEE Land has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • TEE Land has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of TEE Land's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
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 TEE Land's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 TEE Land afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TEE Land 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 TEE Land'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
Jonathan Phua
AGE 43
TENURE AS CEO 5.9 years
CEO Bio

Mr. Cher Chew Phua, also known as Jonathan, has been the Chief Executive Officer of Tee Land Limited since December 18,2012. Mr. Phua served as the Managing Director of Real Estate at Tee International Limited from July 1, 2012 to May 15, 2013. Mr. Phua served as an Executive Director of Property Development at Tee International Ltd. He served as General Manager of Business & Property Development and an Assistant General Manager of Business Development of Tee International Ltd. Mr. Phua joined the Tee International in 1997. He oversees the property arms of TEE. He manages the acquisition of land, land development, sale of the properties, as well as securing opportunities for joint development with other partners in residential development. He has been an Executive Director of Tee Land Limited since December 18,2012. He serves as a Director of Trans Equatorial Engineering Pte. Ltd., TEE Management Pte. Ltd., TEE Development Pte. Ltd., TEE Realty Pte. Ltd., TEE Property Pte. Ltd., Development 83 Pte. Ltd., TEE Homes Pte. Ltd., E Resources Sdn Bhd and Trans Equatorial Philippines, Inc. Mr. Phua holds a Bachelor of Business degree from Central Queensland University and a Diploma in Accounting from Singapore Polytechnic.

CEO Compensation
  • Insufficient data for Jonathan to compare compensation growth.
  • Insufficient data for Jonathan to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure

Average tenure and age of the TEE Land management team in years:

3
Average Tenure
46
Average Age
  • The tenure for the TEE Land management team is about average.
Management Team

Jonathan Phua

TITLE
CEO & Executive Director
AGE
43
TENURE
5.9 yrs

David Ng

TITLE
Financial Controller & Company Secretary
AGE
60

Celine Ooi

TITLE
Senior Manager of Investor Relations & Business Development

Foon Kuen Lai

TITLE
Secretary
TENURE
3.8 yrs

Lawrence Toh

TITLE
Financial Controller of Commercial
TENURE
2.3 yrs

Ai Mei Yeo

TITLE
Secretary
AGE
46
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the TEE Land board of directors in years:

5.9
Average Tenure
59
Average Age
  • The tenure for the TEE Land board of directors is about average.
Board of Directors

Bee Wah Lee

TITLE
Independent Non-Executive Chairman
AGE
57

Jonathan Phua

TITLE
CEO & Executive Director
AGE
43
TENURE
6.3 yrs

Khee Giap Tan

TITLE
Independent Director
AGE
61
TENURE
5.9 yrs

Michael Chin

TITLE
Independent Director
AGE
62
TENURE
5.9 yrs

Timothy Ong

TITLE
Non-Executive Director
AGE
64
TENURE
5.9 yrs

Danny Lim

TITLE
Independent Director
AGE
45
TENURE
5.9 yrs

Edwin Neo

TITLE
Non-Independent Non-Executive Director
TENURE
1.3 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)
14. Jan 19 Buy Bee Wah Lee Individual 14. Jan 19 14. Jan 19 108,000 SGD0.17 SGD18,628
20. Aug 18 Buy Bee Wah Lee Individual 20. Aug 18 20. Aug 18 110,000 SGD0.17 SGD19,250
24. May 18 Buy Bee Wah Lee Individual 22. May 18 23. May 18 86,000 SGD0.18 SGD15,066
22. May 18 Buy Bee Wah Lee Individual 21. May 18 21. May 18 114,000 SGD0.17 SGD19,836
X
Management checks
We assess TEE Land'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. TEE Land 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

Is TEE Land Limited's (SGX:S9B) Balance Sheet Strong Enough To Weather A Storm?

Investors are always looking for growth in small-cap stocks like TEE Land Limited (SGX:S9B), with a market cap of S$74m. … However, an important fact which most ignore is: how financially healthy is the business? … the current state of its operations and pathway to profitability.

Simply Wall St -

What Percentage Of TEE Land Limited (SGX:S9B) Shares Do Insiders Own?

Conversely, insiders often decrease their ownership over time. … Taking a look at the our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about S9B

Simply Wall St -

Are TEE Land Limited's (SGX:S9B) Interest Costs Too High?

TEE Land Limited (SGX:S9B) is a small-cap stock with a market capitalization of S$80.9m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health.

Simply Wall St -

Have Investors Priced In TEE Land Limited's (SGX:S9B) Growth?

As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Is there still an opportunity here to buy. … Today I will analyse the most recent data on TEE Land’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Is TEE Land Limited's (SGX:S9B) Balance Sheet Strong Enough To Weather A Storm?

S9B has sustained its debt level by about S$192.95M over the last 12 months – this includes both the current and long-term debt. … At this current level of debt, the current cash and short-term investment levels stands at S$34.32M , ready to deploy into the business. … Looking at S9B’s most recent S$130.64M liabilities, it appears that the company has been able to meet these commitments with a current assets level of S$333.73M, leading to a 2.55x current account ratio.

Simply Wall St -

Why TEE Land Limited's (SGX:S9B) Investor Composition Impacts Your Returns

View our latest analysis for TEE Land SGX:S9B Ownership_summary Apr 11th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … Public Company Ownership Potential investors in S9B should also look at another important group of investors: other public companies, with a stake of 63.28%, who are primarily invested because of strategic and capital gain interests. … Thus, potential investors should look into these business relations and check how it can impact long-term shareholder returns.Next Steps: With a low level of institutional ownership, investors in S9B need not worry about non-fundamental factors such as ownership structure causing large impact on stock prices.

Simply Wall St -

Before You Buy TEE Land Limited's (SGX:S9B), Consider This

TEE Land's beta of 0.4 indicates that the stock value will be less variable compared to the whole stock market. … S9B's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … How S9B's assets could affect its beta An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive.

Simply Wall St -

Should You Buy TEE Land Limited (SGX:S9B) At $0.19?

Great news for investors – TEE Land is still trading at a fairly cheap price. … What’s more interesting is that, TEE Land’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to move to its intrinsic value, and secondly, there may be less chances to buy low in the future once it reaches that value. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price.

Simply Wall St -

What Investors Should Know About TEE Land Limited's (SGX:S9B) Financial Strength

Given that S9B is not presently profitable, it’s vital to understand the current state of its operations and pathway to profitability. … At this constant level of debt, the current cash and short-term investment levels stands at S$34.32M , ready to deploy into the business. … Moving onto cash from operations, its trivial cash flows from operations make the cash-to-debt ratio less useful to us, though these low levels of cash means that operational efficiency is worth a look.

Simply Wall St -

TEE Land Limited (SGX:S9B): Risks You Need To Consider Before Buying

Based on this beta value, S9B appears to be a stock that an investor with a high-beta portfolio would look for to reduce risk exposure to the market. … I test S9B’s ratio of fixed assets to total assets in order to determine how high the risk is associated with this type of constraint. … Thus, we can expect S9B to be more stable in the face of market movements, relative to its peers of similar size but with a higher portion of fixed assets on their books.

Simply Wall St -

Company Info

Description

TEE Land Limited, an investment holding company, operates as a real estate developer and investor in Singapore, Malaysia, Thailand, Australia, and New Zealand. The company operates through three segments: Property Development, Hotel Operations, and Investment Properties. It undertakes residential, commercial, and industrial property development projects; invests in properties, such as hotels in Australia; and provides short-term accommodation in New Zealand. The company was incorporated in 2012 and is based in Singapore. TEE Land Limited is a subsidiary of TEE International Limited.

Details
Name: TEE Land Limited
S9B
Exchange: SGX
Founded: 2012
SGD84,012,688
446,876,000
Website: http://www.teeland.com.sg
Address: TEE Land Limited
TEE Building,
25 Bukit Batok Street 22,
Singapore,
659591,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX S9B Ordinary Shares Singapore Exchange SG SGD 06. Jun 2013
Number of employees
Current staff
Staff numbers
32
TEE Land employees.
Industry
Real Estate Development
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 12:58
End of day share price update: 2019/04/16 00:00
Last estimates confirmation: 2018/07/25
Last earnings filing: 2019/04/10
Last earnings reported: 2019/02/28
Last annual earnings reported: 2018/05/31


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.