SGX:544

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Executive Summary

CSE Global Limited, an investment holding company, provides integrated industrial automation, information technology, and intelligent transport solutions in the Asia Pacific, the Americas, Europe, the Middle East, and Africa.


Snowflake Analysis

Good value with mediocre balance sheet.


Similar Companies

Share Price & News

How has CSE Global's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 544's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

10.2%

544

8.5%

SG IT

6.5%

SG Market


1 Year Return

0%

544

9.0%

SG IT

-15.5%

SG Market

Return vs Industry: 544 underperformed the SG IT industry which returned 3.2% over the past year.

Return vs Market: 544 exceeded the SG Market which returned -15.5% over the past year.


Shareholder returns

544IndustryMarket
7 Day10.2%8.5%6.5%
30 Day18.3%14.2%5.4%
90 Day-9.3%-1.2%-9.4%
1 Year2.8%0%11.4%9.0%-12.0%-15.5%
3 Year17.9%1.0%11.2%-1.5%-10.8%-20.5%
5 Year9.0%-17.1%-14.7%-29.3%-5.8%-21.9%

Price Volatility Vs. Market

How volatile is CSE Global's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CSE Global undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 544 (SGD0.49) is trading below our estimate of fair value (SGD1.02)

Significantly Below Fair Value: 544 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 544 is good value based on its PE Ratio (10.1x) compared to the IT industry average (20.2x).

PE vs Market: 544 is good value based on its PE Ratio (10.1x) compared to the SG market (11.8x).


Price to Earnings Growth Ratio

PEG Ratio: 544 is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: 544 is overvalued based on its PB Ratio (1.4x) compared to the SG IT industry average (0.6x).


Next Steps

Future Growth

How is CSE Global forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

6.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 544's forecast earnings growth (6.1% per year) is above the savings rate (2.2%).

Earnings vs Market: 544's earnings (6.1% per year) are forecast to grow slower than the SG market (7.3% per year).

High Growth Earnings: 544's earnings are forecast to grow, but not significantly.

Revenue vs Market: 544's revenue (6% per year) is forecast to grow faster than the SG market (3.8% per year).

High Growth Revenue: 544's revenue (6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 544's Return on Equity is forecast to be low in 3 years time (13.8%).


Next Steps

Past Performance

How has CSE Global performed over the past 5 years?

-26.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 544 has high quality earnings.

Growing Profit Margin: 544's current net profit margins (5.4%) are lower than last year (5.9%).


Past Earnings Growth Analysis

Earnings Trend: 544's earnings have declined by -26.3% per year over the past 5 years.

Accelerating Growth: 544's earnings growth over the past year (10.9%) exceeds its 5-year average (-26.3% per year).

Earnings vs Industry: 544 earnings growth over the past year (10.9%) underperformed the IT industry 11.1%.


Return on Equity

High ROE: 544's Return on Equity (13.6%) is considered low.


Next Steps

Financial Health

How is CSE Global's financial position?


Financial Position Analysis

Short Term Liabilities: 544's short term assets (SGD261.4M) exceed its short term liabilities (SGD176.3M).

Long Term Liabilities: 544's short term assets (SGD261.4M) exceed its long term liabilities (SGD43.8M).


Debt to Equity History and Analysis

Debt Level: 544's debt to equity ratio (58.5%) is considered high.

Reducing Debt: 544's debt to equity ratio has increased from 20% to 58.5% over the past 5 years.

Debt Coverage: 544's debt is not well covered by operating cash flow (11.5%).

Interest Coverage: 544's interest payments on its debt are well covered by EBIT (16.7x coverage).


Balance Sheet


Next Steps

Dividend

What is CSE Global's current dividend yield, its reliability and sustainability?

5.67%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 544's dividend (5.67%) is higher than the bottom 25% of dividend payers in the SG market (2.68%).

High Dividend: 544's dividend (5.67%) is low compared to the top 25% of dividend payers in the SG market (6.06%).


Stability and Growth of Payments

Stable Dividend: 544's dividend payments have been volatile in the past 10 years.

Growing Dividend: 544's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (57.5%), 544's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 544's dividends in 3 years are forecast to be covered by earnings (52.7% payout ratio).


Next Steps

Management

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

5.9yrs

Average management tenure


CEO

Boon Lim (52yo)

6.58yrs

Tenure

S$2,284,000

Compensation

Mr. Boon Kheng Lim has been the Group Managing Director and Chief Executive Officer of CSE Global Limited since November 28, 2013. Mr. Lim serves as a Managing Director at CSE Global (Asia) Limited. He ser ...


CEO Compensation Analysis

Compensation vs Market: Boon's total compensation ($USD1.64M) is above average for companies of similar size in the SG market ($USD952.95K).

Compensation vs Earnings: Boon's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Boon Lim
CEO, Group MD & Executive Director6.58yrsS$2.28m1.85% SGD4.6m
Toon Foo
Group Chief Financial Officer6.17yrsno datano data
Leong Haur
Chief Operating Officerno datano datano data
Neal Oswald
Chief Operating Officer1.83yrsno datano data
Roy Rowe
Chief Executive Officer of CSE Global's Australian & New Zealand Operations9.33yrsno datano data
Donnie Smith
President & COO of CSE W-Industries of Louisiana and CEO of CSE Americas Inc5.58yrsno datano data
Lay Hong Tan
Company Secretary0.83yrno datano data

5.9yrs

Average Tenure

52yo

Average Age

Experienced Management: 544's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Boon Lim
CEO, Group MD & Executive Director6.58yrsS$2.28m1.85% SGD4.6m
Ming Seong Lim
Independent Chairman23.42yrsS$86.00k0.64% SGD1.6m
Boon Ann Sin
Independent Non-Executive Director18.08yrsS$56.00kno data
Hien Tan
Independent Non-Executive Director5.58yrsS$54.00kno data
Kong Lee
Independent Director3.33yrsS$63.00kno data
Chian Khong Tan
Independent Non-Executive Director1.33yrsS$72.00k0.0098% SGD24.2k
Mohd Abdul Bin Abdullah
Non-Independent Deputy Chairman of the Board2.08yrsS$50.00kno data
Syed Bin Syed Faisal
Non-Executive Non-Independent Director2.08yrsS$58.00kno data

4.5yrs

Average Tenure

62yo

Average Age

Experienced Board: 544's board of directors are considered experienced (4.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

CSE Global Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CSE Global Limited
  • Ticker: 544
  • Exchange: SGX
  • Founded: 1985
  • Industry: IT Consulting and Other Services
  • Sector: Software
  • Market Cap: S$247.906m
  • Shares outstanding: 511.15m
  • Website: https://www.cse-global.com

Number of Employees


Location

  • CSE Global Limited
  • Building C
  • No. 01-21, 202 Bedok South Avenue 1
  • Singapore
  • 469332
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
544SGX (Singapore Exchange)YesOrdinary SharesSGSGDMar 1999
XCCDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 1999
CSYJ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 1999
CSYJ.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDFeb 2011

Biography

CSE Global Limited, an investment holding company, provides integrated industrial automation, information technology, and intelligent transport solutions in the Asia Pacific, the Americas, Europe, the Middle East, and Africa. The company offers automation solutions, including process control, safety shutdown, fire and gas detection, supervisory control and data acquisition (SCADA), wellhead and subsea control, process skid, electrical drive and high/medium voltage, electrical protection and control, real-time information, and intelligent transport systems, as well as I&E construction and safe secure solutions. It also provides environmental solutions comprising multiple hearth furnaces, fluid bed incinerators, carbon and energy recovery systems, and rotary kiln incinerators. In addition, the company offers telecommunication solutions, including construction communications, fiber optic, microwave radio, conventional and trunked radio, and public address and general alarm systems; VSAT satellite communications, telephone, local and wide area, Internet protocol based, and SCADA and telemetry networks; and CCTV, access control, and FIDS systems. Further, it provides e-business integration, research and development, and computer system integration services; computer network systems; computer systems; automation hardware products; infrastructure engineering services; data telecommunications and marine survey certification services; plant and environmental engineering services; and contracting resources and permanent placement services. Additionally, the company distributes electrical engineering equipment; designs and installs high temperature thermal process and incineration systems; designs and develops water treatment and disposal technology; and leases office and warehouse space. It serves oil and gas, petrochemical, utilities, public infrastructure, environmental, and healthcare industries. CSE Global Limited was founded in 1985 and is headquartered in Singapore. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/05 08:07
End of Day Share Price2020/06/04 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.