SGX:A27

Stock Analysis Report

Executive Summary

mDR Limited, an investment holding company, provides distribution and retail, and after-market services for mobile communication devices and consumer electronic products in Singapore and Malaysia.

Snowflake

Fundamentals

Proven track record with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: A27's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

100.0%

A27

-2.7%

SG Electronic

-1.4%

SG Market


1 Year Return

100.0%

A27

12.5%

SG Electronic

4.2%

SG Market

Return vs Industry: A27 exceeded the SG Electronic industry which returned 12.5% over the past year.

Return vs Market: A27 exceeded the SG Market which returned 4.2% over the past year.


Shareholder returns

A27IndustryMarket
7 Day100.0%-2.7%-1.4%
30 Day0%3.1%3.1%
90 Day100.0%7.3%2.7%
1 Year109.4%100.0%18.7%12.5%8.4%4.2%
3 Year-42.6%-50.0%66.2%44.0%20.3%7.5%
5 Year-53.1%-60.0%72.5%38.7%11.9%-6.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

21.28x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: A27 (SGD0) is trading above our estimate of fair value (SGD0)

Significantly Below Fair Value: A27 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: A27 is poor value based on its PE Ratio (21.3x) compared to the Electronic industry average (12x).

PE vs Market: A27 is poor value based on its PE Ratio (21.3x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate A27's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: A27 is overvalued based on its PB Ratio (1x) compared to the SG Electronic industry average (0.8x).


Next Steps

Future Growth

How is mDR forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: A27's forecast earnings growth (11.1% per year) is above the savings rate (2.3%).

Earnings vs Market: A27's earnings (11.1% per year) are forecast to grow faster than the SG market (5.6% per year).

High Growth Earnings: A27's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if A27's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if A27's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if A27's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has mDR performed over the past 5 years?

50.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: A27 has a high level of non-cash earnings.

Growing Profit Margin: A27's current net profit margins (2.1%) are higher than last year (1.2%).


Past Earnings Growth Analysis

Earnings Trend: A27's earnings have grown significantly by 50.4% per year over the past 5 years.

Accelerating Growth: A27's earnings growth over the past year (82.5%) exceeds its 5-year average (50.4% per year).

Earnings vs Industry: A27 earnings growth over the past year (82.5%) exceeded the Electronic industry -7.6%.


Return on Equity

High ROE: A27's Return on Equity (4.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is mDR's financial position?


Financial Position Analysis

Short Term Liabilities: A27's short term assets (SGD93.2M) exceeds its short term liabilities (SGD85.1M)

Long Term Liabilities: A27's short term assets (93.2M) exceeds its long term liabilities (4.2M)


Debt to Equity History and Analysis

Debt Level: A27's debt to equity ratio (45.1%) is considered high

Reducing Debt: A27's debt to equity ratio has increased from 10.5% to 45.1% over the past 5 years.

Debt Coverage: A27's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: A27's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet

Inventory Level: A27 has a high level of physical assets or inventory.

Debt Coverage by Assets: A27's debt is covered by short term assets (assets are 1.7x debt).


Next Steps

Dividend

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

3.00%

Current Dividend Yield


Dividend Yield vs Market

company3.0%marketbottom25%2.5%markettop25%5.5%industryaverage4.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: A27's dividend (3%) is higher than the bottom 25% of dividend payers in the SG market (2.54%).

High Dividend: A27's dividend (3%) is low compared to the top 25% of dividend payers in the SG market (5.52%).


Stability and Growth of Payments

Stable Dividend: A27 has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: A27 has only been paying a dividend for 8 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33%), A27's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.9yrs

Average management tenure


CEO

Frankie Ong (53yo)

9.8yrs

Tenure

0

Mr. Ong Ghim Choon, also known as Frankie, has been the Chief Executive Officer of mDR Limited since February 1, 2010. Mr. Choon has been the Chief Executive Officer of Distribution Management Solutions Pr ...


Management Age and Tenure

3.9yrs

Average Tenure

Experienced Management: A27's management team is considered experienced (3.9 years average tenure).


Board Age and Tenure

2.4yrs

Average Tenure

47yo

Average Age

Experienced Board: A27's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


Insider Trading

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


Ownership Breakdown

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 175.1%.


Management Team

  • Richard Siua

    Group Chief Operating Officer

    • Tenure: 1.5yrs
  • Victor Tan

    • Tenure: 0yrs
    • Compensation: S$1.54m
  • Frankie Ong (53yo)

    CEO & Non-Independent Executive Director

    • Tenure: 9.8yrs
  • Edward Lee

    Executive Chairman

    • Tenure: 2.4yrs
  • Madan Mohan

    Company Secretary & Legal Counsel

    • Tenure: 0yrs
  • Zhang Yanmin

    Executive Director

    • Tenure: 1.7yrs
  • Li San Yip (49yo)

    Chief Financial Officer

    • Tenure: 1.5yrs
  • Peter Ng

    Sales Director of A-Mobile & SDS Pte. Ltd.

    • Tenure: 0yrs
  • Jimmy Ong

    Director of Accessories & Logistics Division of A-Mobile

    • Tenure: 0yrs
  • Alexander Lim

    Chief Executive Officer of Pixio Sdn. Bhd.

    • Tenure: 6.3yrs

Board Members

  • Mark Leong (43yo)

    Lead Independent Non-Executive Director

    • Tenure: 2.4yrs
  • Frankie Ong (53yo)

    CEO & Non-Independent Executive Director

    • Tenure: 9.8yrs
  • Edward Lee

    Executive Chairman

    • Tenure: 2.4yrs
  • Ian Oei (47yo)

    Independent Non-Executive Director

    • Tenure: 2.4yrs
  • Yew Fei Lai

    Independent Non-Executive Director

    • Tenure: 2.4yrs
  • Zhang Yanmin

    Executive Director

    • Tenure: 1.7yrs

Company Information

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


Key Information

  • Name: mDR Limited
  • Ticker: A27
  • Exchange: SGX
  • Founded: 2000
  • Industry: Technology Distributors
  • Sector: Tech
  • Market Cap: S$130.715m
  • Shares outstanding: 65.36b
  • Website: https://www.m-dr.com

Location

  • mDR Limited
  • 53 Ubi Crescent
  • Singapore
  • 408594
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
A27SGX (Singapore Exchange)YesOrdinary SharesSGSGDMar 2003

Biography

mDR Limited, an investment holding company, provides distribution and retail, and after-market services for mobile communication devices and consumer electronic products in Singapore and Malaysia. It opera ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/15 12:34
End of Day Share Price2019/11/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.