Serial System Ltd

SGX:S69 Stock Report

Market Cap: S$67.9m

Serial System Management

Management criteria checks 2/4

Serial System's CEO is Derek Goh, appointed in Jan 1997, has a tenure of 29.5 years. total yearly compensation is $1.25M, comprised of 45.3% salary and 54.7% bonuses, including company stock and options. directly owns 40.43% of the company’s shares, worth SGD27.44M. The average tenure of the management team and the board of directors is 15.3 years and 2.5 years respectively.

Key information

Derek Goh

Chief executive officer

US$1.2m

Total compensation

CEO salary percentage45.30%
CEO tenure29.5yrs
CEO ownership40.4%
Management average tenure15.3yrs
Board average tenure2.5yrs

Recent management updates

Recent updates

Analysis Article • Sep 18

Does Serial System (SGX:S69) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Apr 28

There's Been No Shortage Of Growth Recently For Serial System's (SGX:S69) Returns On Capital

There are a few key trends to look for if we want to identify the next multi-bagger. Ideally, a business will show two...
Analysis Article • Dec 06

Serial System (SGX:S69) Hasn't Managed To Accelerate Its Returns

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business...
Analysis Article • Oct 07

We Think Serial System (SGX:S69) Is Taking Some Risk With Its Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Analysis Article • Apr 23

It Looks Like Serial System Ltd's (SGX:S69) CEO May Expect Their Salary To Be Put Under The Microscope

Key Insights Serial System will host its Annual General Meeting on 30th of April CEO Derek Goh's total compensation...
Analysis Article • Apr 08

Serial System (SGX:S69) Has Debt But No Earnings; Should You Worry?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Dec 08

Does Serial System (SGX:S69) Have A Healthy Balance Sheet?

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • May 12

These Return Metrics Don't Make Serial System (SGX:S69) Look Too Strong

What financial metrics can indicate to us that a company is maturing or even in decline? Businesses in decline often...
Analysis Article • Feb 25

Serial System (SGX:S69) Seems To Be Using A Lot Of Debt

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Jan 17

Serial System (SGX:S69) Will Be Hoping To Turn Its Returns On Capital Around

Ignoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...
Analysis Article • Dec 06

Estimating The Intrinsic Value Of Serial System Ltd (SGX:S69)

Does the December share price for Serial System Ltd ( SGX:S69 ) reflect what it's really worth? Today, we will estimate...
Analysis Article • Oct 11

Serial System's (SGX:S69) Returns On Capital Tell Us There Is Reason To Feel Uneasy

If you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...
Analysis Article • Apr 04

Serial System (SGX:S69) Will Be Hoping To Turn Its Returns On Capital Around

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. In a perfect...
Analysis Article • Apr 04

We Think Serial System (SGX:S69) Can Stay On Top Of Its Debt

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analysis Article • Mar 09

Should You Be Worried About Serial System's (SGX:S69) Returns On Capital?

To avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...
Analysis Article • Feb 10

A Look At Serial System's (SGX:S69) Share Price Returns

While not a mind-blowing move, it is good to see that the Serial System Ltd ( SGX:S69 ) share price has gained 16% in...
Analysis Article • Dec 18

Does Serial System (SGX:S69) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...

CEO Compensation Analysis

How has Derek Goh's remuneration changed compared to Serial System's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025US$1mUS$566k

US$2m

Sep 30 2025n/an/a

US$4m

Jun 30 2025n/an/a

US$7m

Mar 31 2025n/an/a

US$4m

Dec 31 2024US$1mUS$492k

US$516k

Sep 30 2024n/an/a

-US$3m

Jun 30 2024n/an/a

-US$7m

Mar 31 2024n/an/a

-US$11m

Dec 31 2023US$1mUS$534k

-US$15m

Sep 30 2023n/an/a

-US$16m

Jun 30 2023n/an/a

-US$18m

Mar 31 2023n/an/a

-US$11m

Dec 31 2022US$2mUS$532k

-US$5m

Sep 30 2022n/an/a

US$531k

Jun 30 2022n/an/a

US$6m

Mar 31 2022n/an/a

US$8m

Dec 31 2021US$1mUS$449k

US$11m

Sep 30 2021n/an/a

US$11m

Jun 30 2021n/an/a

US$11m

Mar 31 2021n/an/a

US$5m

Dec 31 2020US$1mUS$395k

US$261k

Sep 30 2020n/an/a

-US$2m

Jun 30 2020n/an/a

-US$2m

Mar 31 2020n/an/a

US$3m

Dec 31 2019US$2mUS$547k

US$8m

Compensation vs Market: Derek's total compensation ($USD1.25M) is above average for companies of similar size in the SG market ($USD383.79K).

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

CEO

Derek Goh (64 yo)

29.5yrs
Tenure
US$1,248,583
Compensation

Dr. Bak Heng Goh, also known as Derek, BBM, serves as Chief Executive Officer of Serial Microelectronics Korea Limited. Dr. Goh founded Serial System Ltd. in 1988 and was its Executive Chairman since March...

Leadership Team

NamePositionTenureCompensationOwnership
Bak Heng Goh
Founder29.5yrsUS$1.25m40.43%
SGD 27.4m
Su Teng Goh
Deputy Group CEO & Executive Director4yrsUS$535.50kno data
Heck Koon Wui
Group CFO & Group Company Secretary15.3yrsno datano data
Jesse Jeng
President of Serial Microelectronics Inc. - Taiwan5.6yrsno datano data
Lawrence Ho
President of Serial Microelectronics (Hk) Ltd - Hong Kong & China25yrsno datano data
Sang Kim
President of Serial Microelectronics Korea Limited - South Korea27.2yrsno data1.19%
SGD 810.6k
Hafiza Alwi Nor
Secretary of the Company1.8yrsno datano data
15.3yrs
Average Tenure

Experienced Management: S69's management team is seasoned and experienced (15.3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Bak Heng Goh
Founder2.5yrsUS$1.25m40.43%
SGD 27.4m
Su Teng Goh
Deputy Group CEO & Executive Director4.8yrsUS$535.50kno data
Kian Kheng Khua
Independent Non-Executive Director2.3yrsUS$37.34kno data
Yong Hwee Ng
Independent Non-Executive Director2.3yrsUS$35.01kno data
Ser-Luck Teo
Non-Executive Deputy Chairman of the Board & Lead Independent Director9yrsUS$48.23kno data
Hoong Yip Lye
Independent Non-Executive Director2.5yrsUS$37.34kno data
Kok Ming Goi
Non-Executive Non-Independent Director7.2yrsUS$35.01kno data
Yeow Meng Heng
Independent Non-Executive Director2.3yrsUS$37.34kno data
Si Hui Goh
Non-Independent Non-Executive Director4.5yrsUS$199.39k0.030%
SGD 20.5k
2.5yrs
Average Tenure
53yo
Average Age

Experienced Board: S69's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/21 01:26
End of Day Share Price 2026/07/17 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Serial System Ltd is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.