Wing Tai Holdings
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Wing Tai Holdings Limited, an investment holding company, engages in property development, property investment, and retailing businesses in Singapore, Malaysia, Australia, and the People's Republic of China. The last earnings update was 70 days ago. More info.
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W05 Share Price and Events
7 Day Returns
1 Year Returns
W05 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Wing Tai Holdings (W05) | -0.5% | 2% | 2% | 1% | 9.9% | 2.5% |
| SG Real Estate | -1.1% | 1.6% | 5.6% | -8% | 5.7% | -5.1% |
| SG Market | 0.3% | 3% | 4.7% | -6.4% | 10.1% | -2% |
1 Year Return vs Industry and Market
- W05 outperformed the Real Estate industry which returned -8% over the past year.
- W05 outperformed the Market in Singapore which returned -6.4% over the past year.
W05 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
Wing Tai Holdings
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 Wing Tai Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 3 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 10.5% |
| 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% |
| Real Estate Unlevered Beta | Simply Wall St/ S&P Global | 1.1 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.102 (1 + (1- 17%) (50.12%)) |
1.376 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.38 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.3% + (1.376 * 5.96%) |
10.5% |
Discounted Cash Flow Calculation for SGX:W05 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Wing Tai Holdings 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 (@ 10.5%) |
|
|---|---|---|---|
| 2019 | 0.00 | Analyst x1 | 0.00 |
| 2020 | 36.00 | Analyst x1 | 29.48 |
| 2021 | 2.00 | Analyst x1 | 1.48 |
| 2022 | 0.77 | Est @ -61.53% | 0.52 |
| 2023 | 0.44 | Est @ -42.38% | 0.27 |
| 2024 | 0.31 | Est @ -28.97% | 0.17 |
| 2025 | 0.25 | Est @ -19.59% | 0.13 |
| 2026 | 0.22 | Est @ -13.02% | 0.10 |
| 2027 | 0.20 | Est @ -8.42% | 0.08 |
| 2028 | 0.19 | Est @ -5.21% | 0.07 |
| Present value of next 10 years cash flows | SGD32.30 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= SGD0.19 × (1 + 2.3%) ÷ (10.5% – 2.3%) |
SGD2.39 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= SGD2.39 ÷ (1 + 10.5%)10 |
SGD0.88 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= SGD32.30 + SGD0.88 |
SGD33.18 |
| Equity Value per Share (SGD) |
= Total value / Shares Outstanding
= SGD33.18 / 767.73 |
SGD0.04 |
| Calculation | Result | |
|---|---|---|
| Value per share (SGD) | From above. | SGD0.04 |
| Current discount | Discount to share price of
SGD2.05
= -1 x (SGD2.05 - SGD0.04) / SGD0.04 |
-4643.5% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Wing Tai Holdings is above its future cash flow value.
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 Wing Tai Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Wing Tai Holdings'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 | SGD0.27 |
| SGX:W05 Share Price ** | SGX (2019-04-24) in SGD | SGD2.05 |
| Singapore Real Estate Industry PE Ratio | Median Figure of 38 Publicly-Listed Real Estate Companies | 9.35x |
| Singapore Market PE Ratio | Median Figure of 328 Publicly-Listed Companies | 13.16x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Wing Tai Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SGX:W05 Share Price ÷ EPS (both in SGD) = 2.05 ÷ 0.27 |
7.54x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Wing Tai Holdings is good value based on earnings compared to the SG Real Estate industry average.
- Wing Tai Holdings is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does
Wing Tai Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 7.54x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
-54.3%per year |
| Singapore Real Estate Industry PEG Ratio | Median Figure of 14 Publicly-Listed Real Estate Companies | -0.16x |
| Singapore Market PEG Ratio | Median Figure of 120 Publicly-Listed Companies | 1.58x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 7.54x ÷ -54.3% |
-0.14x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Wing Tai Holdings earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Wing Tai Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in SGD | SGD4.43 |
| SGX:W05 Share Price * | SGX (2019-04-24) in SGD | SGD2.05 |
| Singapore Real Estate Industry PB Ratio | Median Figure of 46 Publicly-Listed Real Estate Companies | 0.57x |
| Singapore Market PB Ratio | Median Figure of 432 Publicly-Listed Companies | 0.75x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SGX:W05 Share Price ÷ Book Value per Share (both in SGD) = 2.05 ÷ 4.43 |
0.46x |
* Primary Listing of Wing Tai Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Wing Tai Holdings is good value based on assets compared to the SG Real Estate industry average.
Value checks
We assess Wing Tai Holdings'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 Real Estate 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 Real Estate industry average (and greater than 0)? (1 check) Wing Tai Holdings 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.
W05 Future Performance
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
- Wing Tai Holdings's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.
Growth vs Market Checks
- Wing Tai Holdings's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.
- Wing Tai Holdings's revenues are expected to decrease over the next 1-3 years, this is below the Singapore market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SGX:W05 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts | -54.3% |
| SGX:W05 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | -2.8% |
| Singapore Real Estate Industry Earnings Growth Rate | Market Cap Weighted Average | -10.2% |
| 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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-06-30 | 375 | 47 | 2 | |
| 2020-06-30 | 377 | 57 | 3 | |
| 2019-06-30 | 401 | 45 | 57 | 3 |
| Date (Data in SGD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 386 | 165 | 210 |
| 2018-09-30 | 379 | 153 | 199 |
| 2018-06-30 | 373 | 105 | 213 |
| 2018-03-31 | 310 | 128 | 96 |
| 2017-12-31 | 313 | 80 | 35 |
| 2017-09-30 | 265 | 154 | 34 |
| 2017-06-30 | 263 | 139 | 20 |
| 2017-03-31 | 345 | 50 | 13 |
| 2016-12-31 | 385 | 50 | 7 |
| 2016-09-30 | 444 | -27 | 6 |
| 2016-06-30 | 545 | -30 | 7 |
| 2016-03-31 | 620 | 56 | 121 |
*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 3 Analyst Estimates (S&P Global) | See Below |
All data from Wing Tai Holdings 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 |
|---|---|---|---|---|
| 2021-06-30 | 0.06 | 0.06 | 0.06 | 1.00 |
| 2020-06-30 | 0.07 | 0.07 | 0.07 | 1.00 |
| 2019-06-30 | 0.07 | 0.07 | 0.07 | 1.00 |
| Date (Data in SGD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.27 |
| 2018-09-30 | 0.26 |
| 2018-06-30 | 0.27 |
| 2018-03-31 | 0.12 |
| 2017-12-31 | 0.05 |
| 2017-09-30 | 0.04 |
| 2017-06-30 | 0.03 |
| 2017-03-31 | 0.02 |
| 2016-12-31 | 0.01 |
| 2016-09-30 | 0.01 |
| 2016-06-30 | 0.01 |
| 2016-03-31 | 0.16 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Wing Tai Holdings'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)
Wing Tai Holdings 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.
W05 Past Performance
How has Wing Tai Holdings 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
- Wing Tai Holdings's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Wing Tai Holdings's 1-year earnings growth exceeds its 5-year average (501% vs -29.9%)
- Wing Tai Holdings's earnings growth has exceeded the SG Real Estate industry average in the past year (501% vs 5.7%).
Earnings and Revenue History
All data from Wing Tai Holdings 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 | 386.14 | 209.80 | 149.04 | |
| 2018-09-30 | 378.93 | 198.77 | 149.83 | |
| 2018-06-30 | 373.23 | 212.68 | 152.29 | |
| 2018-03-31 | 310.01 | 95.66 | 178.10 | |
| 2017-12-31 | 313.15 | 34.91 | 184.44 | |
| 2017-09-30 | 265.22 | 33.54 | 184.30 | |
| 2017-06-30 | 263.20 | 20.07 | 181.77 | |
| 2017-03-31 | 345.25 | 12.50 | 155.41 | |
| 2016-12-31 | 384.76 | 7.16 | 164.03 | |
| 2016-09-30 | 444.47 | 6.11 | 168.27 | |
| 2016-06-30 | 544.53 | 7.08 | 177.34 | |
| 2016-03-31 | 619.74 | 121.14 | 192.86 | |
| 2015-12-31 | 680.91 | 121.93 | 192.57 | |
| 2015-09-30 | 686.88 | 128.17 | 194.32 | |
| 2015-06-30 | 676.72 | 150.30 | 197.90 | |
| 2015-03-31 | 640.59 | 177.44 | 203.23 | |
| 2014-12-31 | 619.68 | 212.93 | 195.63 | |
| 2014-09-30 | 740.65 | 254.05 | 194.27 | |
| 2014-06-30 | 803.39 | 254.39 | 199.12 | |
| 2014-03-31 | 931.42 | 387.15 | 188.76 | |
| 2013-12-31 | 1,233.98 | 443.34 | 194.88 | |
| 2013-09-30 | 1,308.22 | 483.57 | 198.20 | |
| 2013-06-30 | 1,332.50 | 531.13 | 188.84 | |
| 2013-03-31 | 1,226.92 | 416.03 | 166.09 | |
| 2012-12-31 | 899.21 | 363.82 | 162.55 | |
| 2012-09-30 | 763.03 | 309.32 | 157.56 | |
| 2012-06-30 | 624.89 | 262.37 | 158.38 |
*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.
- Wing Tai Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Wing Tai Holdings used its assets more efficiently than the SG Real Estate industry average last year based on Return on Assets.
- Wing Tai Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Wing Tai Holdings'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 Real Estate 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)
Wing Tai Holdings has a total score of 3/6, 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.
W05 Health
How is Wing Tai Holdings'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 Wing Tai Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- Wing Tai Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Wing Tai Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 1.9x 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 Wing Tai Holdings Company Filings, last reported 3 months ago.
| Date (Data in SGD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 3,476.65 | 781.08 | 831.72 |
| 2018-09-30 | 3,531.12 | 780.65 | 855.89 |
| 2018-06-30 | 3,550.07 | 780.07 | 817.99 |
| 2018-03-31 | 3,379.48 | 784.00 | 835.33 |
| 2017-12-31 | 3,323.49 | 785.08 | 839.96 |
| 2017-09-30 | 3,355.00 | 924.70 | 1,011.26 |
| 2017-06-30 | 3,415.71 | 938.61 | 886.35 |
| 2017-03-31 | 3,314.06 | 955.87 | 748.04 |
| 2016-12-31 | 3,373.61 | 972.08 | 861.56 |
| 2016-09-30 | 3,340.82 | 1,131.87 | 965.74 |
| 2016-06-30 | 3,332.53 | 1,384.77 | 728.05 |
| 2016-03-31 | 3,360.33 | 1,414.81 | 793.67 |
| 2015-12-31 | 3,376.48 | 1,146.44 | 594.44 |
| 2015-09-30 | 3,438.30 | 1,184.21 | 889.44 |
| 2015-06-30 | 3,362.20 | 1,199.25 | 891.16 |
| 2015-03-31 | 3,283.99 | 1,472.21 | 1,120.97 |
| 2014-12-31 | 3,237.71 | 1,466.16 | 1,098.82 |
| 2014-09-30 | 3,223.72 | 1,309.79 | 860.69 |
| 2014-06-30 | 3,142.81 | 1,319.72 | 846.38 |
| 2014-03-31 | 3,010.50 | 1,261.70 | 654.48 |
| 2013-12-31 | 2,963.06 | 1,139.92 | 663.71 |
| 2013-09-30 | 3,015.06 | 1,128.25 | 748.47 |
| 2013-06-30 | 3,027.08 | 1,459.56 | 1,035.79 |
| 2013-03-31 | 2,588.45 | 1,486.54 | 1,068.78 |
| 2012-12-31 | 2,453.90 | 1,369.05 | 980.18 |
| 2012-09-30 | 2,433.76 | 1,355.66 | 1,004.16 |
| 2012-06-30 | 2,397.83 | 1,255.49 | 860.77 |
- Wing Tai Holdings's level of debt (22.5%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (38.5% vs 22.5% today).
- Debt is well covered by operating cash flow (21.1%, greater than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 0.3x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Wing Tai Holdings'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) Wing Tai Holdings has a total score of 5/6, 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.
W05 Dividends
What is Wing Tai Holdings'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
Wing Tai Holdings
shares you are expected to receive
SGD78
in your first year as a dividend.
Dividend Amount
- Wing Tai Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.51%).
- Wing Tai Holdings's dividend is below the markets top 25% of dividend payers in Singapore (5.47%).
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 3 Analyst Estimates (S&P Global) | See Below |
| Singapore Real Estate Industry Average Dividend Yield | Market Cap Weighted Average of 34 Stocks | 3.1% |
| 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 |
|---|---|---|
| 2021-06-30 | 0.06 | 2.00 |
| 2020-06-30 | 0.06 | 2.00 |
| 2019-06-30 | 0.06 | 2.00 |
| Date (Data in SGD) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-10-09 | 0.080 | 4.044 |
| 2017-10-06 | 0.060 | 2.824 |
| 2017-08-24 | 0.060 | 2.803 |
| 2016-10-05 | 0.030 | 1.654 |
| 2015-10-13 | 0.030 | 1.762 |
| 2015-08-13 | 0.030 | 1.776 |
| 2014-10-09 | 0.060 | 3.304 |
| 2014-08-28 | 0.060 | 3.312 |
| 2013-10-10 | 0.120 | 6.235 |
| 2012-10-15 | 0.070 | 3.550 |
| 2012-08-21 | 0.070 | 4.364 |
| 2011-09-20 | 0.070 | 5.754 |
| 2011-08-29 | 0.070 | 5.300 |
| 2010-10-12 | 0.050 | 3.186 |
| 2010-08-23 | 0.050 | 2.926 |
| 2009-08-26 | 0.040 | 2.307 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Wing Tai Holdings's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are thoroughly covered by earnings (9.1x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
Income/ dividend checks
We assess Wing Tai Holdings'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 Wing Tai Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Wing Tai Holdings has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
W05 Management
CEO
| AGE | 68 |
| TENURE AS CEO | 34.3 years |
CEO Bio
Mr. Wai Keung Cheng has been the Managing Director of Wing Tai Holdings Limited since 1985. Mr. Cheng served as the Managing Director of Wing Tai Malaysia Berhad since September 20, 1975. He has been Chairman of the Board at Wing Tai Malaysia Berhad since December 2, 1994. He served as the Chairman of Neptune Orient Lines Ltd. until April 2012 and Raffles Holdings Limited since April 27, 2001. He served as Chairman at MediaCorp Pte Ltd. from 1999 to 2002. He served as Chairman at Mediacorp TV Singapore Pte Ltd. from 1997 to 2002. He served as Chairman at PowerSeraya Limited from 1995 to 2000. Mr. Cheng served as Vice Chairman of Singapore-Suzhou Township Development Pte Ltd. He served as Deputy Chairman of Temasek Holdings (Private) Limited since November 4, 2013. He served as Deputy Chairman of Raffles Holdings Limited. He has been a Non Independent Executive Director of Wing Tai Malaysia Berhad since April 29, 1974. He has been an Executive Director at Wing Tai Holdings Limited since April 17, 1973. Mr. Cheng serves as Member of APL Logistics including American Eagle Tankers (AET) and APL. He serves as a Director of Singapore Health Services Pte Ltd. and Singbridge Holdings Pte. Ltd. He served as a Member of the Board of Directors at PowerSeraya Limited. He served as a Member of the Board of Directors at MediaCorp Pte Ltd., and Mediacorp TV Singapore Pte Ltd. until 2002. He served as a Director at Neptune Orient Lines Ltd. from May 22, 2002 to April 2014; and Media Asia Entertainment Group Ltd from September 27, 2004 to June 12, 2007. He served as Non-Executive Independent Director at Raffles Holdings Limited since February 13, 2001. Mr. Cheng served as a Non Executive Director of Wing Tai Properties Limited from August 20, 1991 to August 24, 2007; Temasek Holdings (Private) Limited since September 15, 2011; GP Batteries International Ltd. from 1991 to July 29, 2009 and Transpac Industrial Holdings Ltd. since February 17, 1994. He was awarded the Public Service Star (BBM) in 1987 and the Public Service Star (Bar) (BBM-Lintang) in 1997 by the Government of Singapore. He was re-appointed Justice of The Peace (JP) by the President of the Republic of Singapore in 2005. He was in Distinguished Service Order (DUBC) in 2007 and in Justice of the Peace since 2000. Mr. Cheng graduated with a Bachelor of Science degree from Indiana University and holds a Masters in Business Administration from the University of Chicago, US.
CEO Compensation
- Insufficient data for Wai Keung to compare compensation growth.
- Insufficient data for Wai Keung to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team Tenure
Average tenure and age of the Wing Tai Holdings management team in years:
- The average tenure for the Wing Tai Holdings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Hwee Bin Tan
Executive Director
55
James Lee
Senior Advisor
80
1.3 yrs
Wai Keung Cheng
Chairman & MD
68
34.3 yrs
Edmund Cheng
Deputy Chairman & Deputy MD
66
34.3 yrs
Kim Huat Ng
Chief Financial Officer
Gabrielle Tan
Company Secretary
Karine Lim
General Manager of Group Human Resource
Siew Poh Ooi
Company Secretary
Soo Eng Loh
Senior Advisor
77
0.3 yrs
Board of Directors Tenure
Average tenure and age of the Wing Tai Holdings board of directors in years:
- The tenure for the Wing Tai Holdings board of directors is about average.
Board of Directors
Hwee Bin Tan
Executive Director
55
10.3 yrs
Wai Keung Cheng
Chairman & MD
68
24.3 yrs
Edmund Cheng
Deputy Chairman & Deputy MD
66
35.3 yrs
Paul Tong
Lead Independent Director
71
4.3 yrs
Christopher Lau
Independent Non-Executive Director
70
5.5 yrs
Man Tak Cheng
Non-Executive Director
58
37.9 yrs
Tak Hap Boey
Independent Non-Executive Director
66
21.9 yrs
Zulkurnain Bin Hj. Awang
Independent Non-Executive Director
68
1.3 yrs
Mildred Tan Sim
Independent Non-Executive Director
0.3 yrs
Guy Daniel Harvey-Samuel
Independent Non-Executive Director
61
1.3 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (SGD) | Value (SGD) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 26. Jun 18 | Buy | FMR LLC | Company | 22. Jun 18 | 22. Jun 18 | 751,400 | SGD1.89 | SGD1,422,746 | ||
| 12. Jun 18 | Sell | FMR LLC | Company | 05. Jun 18 | 05. Jun 18 | -211,800 | SGD2.05 | SGD-434,715 | ||
| 12. Jun 18 | Buy | FMR LLC | Company | 25. Apr 18 | 25. Apr 18 | 322,800 | SGD2.03 | SGD655,284 | ||
Management checks
We assess Wing Tai Holdings'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) Wing Tai Holdings 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.
W05 News
Simply Wall St News
Why Wing Tai Holdings Limited (SGX:W05) Could Have A Place In Your Portfolio
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … that has been able to sustain great financial health over the past
Simply Wall St - – Full articleIs There Now An Opportunity In Wing Tai Holdings Limited (SGX:W05)?
Wing Tai Holdings Limited (SGX:W05), which is in the real estate business, and is based in Singapore,. … Let’s take a look at Wing Tai Holdings’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change … See our latest analysis for Wing Tai Holdings
Simply Wall St - – Full articleBefore You Buy Wing Tai Holdings Limited (SGX:W05), Consider Its Volatility
Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.
Simply Wall St - – Full articleWhat You Must Know About Wing Tai Holdings Limited's (SGX:W05) Financial Strength
Wing Tai Holdings Limited (SGX:W05) is a small-cap stock with a market capitalization of S$1.6b. … 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. … Evaluating financial health as part of your investment thesis is
Simply Wall St - – Full articleIs Wing Tai Holdings Limited's (SGX:W05) P/E Ratio Really That Good?
We'll look at Wing Tai Holdings Limited's (SGX:W05) P/E ratio and reflect on what it tells us about the company's share price. … Wing Tai Holdings has a price to earnings ratio of 7.84, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleHow Does Wing Tai Holdings Limited (SGX:W05) Fare As A Dividend Stock?
A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Wing Tai Holdings Limited (SGX:W05) has been paying a dividend to shareholders. … Let's dig deeper into whether Wing Tai Holdings should have a place in your portfolio.
Simply Wall St - – Full articleHow Much Of Wing Tai Holdings Limited (SGX:W05) Do Insiders Own?
Every investor in Wing Tai Holdings Limited (SGX:W05) should be aware of the most powerful shareholder groups. … With a market capitalization of S$1.5b, Wing Tai Holdings is a decent size, so it is probably on the radar of institutional investors. … See our latest analysis for Wing Tai Holdings
Simply Wall St - – Full articleWhat Kind Of Share Price Volatility Should You Expect For Wing Tai Holdings Limited (SGX:W05)?
Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.
Simply Wall St - – Full articleWhat does Wing Tai Holdings Limited's (SGX:W05) Balance Sheet Tell Us About Its Future?
Investors are always looking for growth in small-cap stocks like Wing Tai Holdings Limited (SGX:W05), with a market cap of S$1.5b. … However, an important fact which most ignore is: how financially healthy is the business? … I believe these basic checks tell most of the story you need to know.
Simply Wall St - – Full article4 Days Left To Cash In On Wing Tai Holdings Limited (SGX:W05) Dividend,
Wing Tai Holdings Limited (SGX:W05) will be distributing its dividend of S$0.08 per share on the 23 November 2018, and will start trading ex-dividend in 4 days time on the 05 November 2018. … Below, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … Based on future earnings growth, will it be able to continue to payout dividend at the current rate
Simply Wall St - – Full articleW05 Company Info
Description
Wing Tai Holdings Limited, an investment holding company, engages in property development, property investment, and retailing businesses in Singapore, Malaysia, Australia, and the People's Republic of China. The company develops residential and commercial properties; and invests in and manages serviced residences under the Lanson Place brand name, as well as manages a boutique hotel in Hong Kong. It is also involved in the retail of garments; the provision of consultancy and advisory services; and project management and property maintenance activities. As of June 30, 2018, the company operated 229 stores in Singapore and Malaysia. Wing Tai Holdings Limited was founded in 1955 and is headquartered in Singapore.
Details
| Name: | Wing Tai Holdings Limited |
| W05 | |
| Exchange: | SGX |
| Founded: | 1955 |
| SGD1,558,482,683 | |
| 767,725,460 | |
| Website: | http://www.wingtaiasia.com.sg |
| Address: |
Wing Tai Holdings Limited No. 10-01 Winsland House I, 3 Killiney Road, Singapore, 239519, Singapore |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SGX | W05 | Ordinary Shares | Singapore Exchange | SG | SGD | 01. Jan 1992 | |
| BST | WT4 | Ordinary Shares | Boerse-Stuttgart | DE | EUR | 01. Jan 1992 |
Number of employees
Current staff
Industry
| Real Estate Development | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/24 12:33 |
| End of day share price update: | 2019/04/24 00:00 |
| Last estimates confirmation: | 2019/03/04 |
| Last earnings filing: | 2019/02/13 |
| Last earnings reported: | 2018/12/31 |
| 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.
