Sing Holdings

(16-11-2019, 08:10 AM)money Wrote:

(16-11-2019, 07:40 AM)bargainhunter Wrote:

(14-11-2019, 09:21 PM)money Wrote: But the boss will not return the excess cash to you. He will probably just go buy another property from Australia or UK, etc. He will only focus on drawing a decent salary year after year, one that will increase when the overall profits go up, but he will declare miserable dividends to minority shareholders. This is what i have observed over the years, i will be very happy for you if he does otherwise

I calculated the cumulative dividends from FY12 to FY18 and divided it by the total earnings over the same period and found that the average payout ratio is 24.38%.  Its quite low but not exactly miserable I guess.

I guess at the end of the day it is all about expectations. There's no right or wrong most of the time. I just feel that actions of the boss benefit himself more than benefit minority shareholders.

that i agree.

(16-11-2019, 07:40 AM)bargainhunter Wrote:

(14-11-2019, 09:21 PM)money Wrote: But the boss will not return the excess cash to you. He will probably just go buy another property from Australia or UK, etc. He will only focus on drawing a decent salary year after year, one that will increase when the overall profits go up, but he will declare miserable dividends to minority shareholders. This is what i have observed over the years, i will be very happy for you if he does otherwise

I calculated the cumulative dividends from FY12 to FY18 and divided it by the total earnings over the same period and found that the average payout ratio is 24.38%.  Its quite low but not exactly miserable I guess.

Found this table posted by stockinvestor from the sharejunction forum, the 10 year dividend payout ratio is slightly higher at 26.45%:

Year      Profit        EPS        DPS
FY09    $6.251m    $0.0173  $0.007
FY10    $9.837m    $0.0245  $0.0075
FY11    $22.055m $0.055    $0.01
FY12    $41.139m $0.1026  $0.016
FY13    $28.851m $0.0719  $0.015
FY14    $43k          $0.0001  $0.01
FY15  $20.315m  $0.0507  $0.0125
FY16  $26.266m  $0.0655  $0.01375
FY17  $3.305m    $0.0082  $0.01
FY18  $13.732m $0.0342  $0.012
9MFY19 $34.011m $0.0848    ?

FY19 is on course to exceed the FY12 record of $41.139m with FY20 even stronger.

Sing Holdings is doing well! FY19 results make for pleasant reading for its shareholders.

The pertinent numbers:

Revenue: $316.357 mil (315.1% jump from $76.220 mil achieved in FY19)
Net Profit: $45.371 mil (306.8% jump from $11.154 mil achieved in FY19)
No. of shares: 400.995 mil
EPS: $0.1131 
NAV: $0.737
Current Assets - Total liabilities: $223.195 mil
Current market cap: $166.41 mil (At today's closing price of $0.415)
Dividend: $0.0185 per share ($0.012 per share in FY19)

2020 should also be an excellent year for them considering that Parc Botannia is 99% sold and almost similar revenues and profitability will accrue for this year as well. I await their next project. Another good hit like Parc Botannia will make it difficult for the market to keep ignoring this solid yet very underrated performer. 

Just to complete the table:

Year Profit EPS DPS
FY09 $6.251m $0.0173 $0.007
FY10 $9.837m $0.0245 $0.0075
FY11 $22.055m $0.055 $0.01
FY12 $41.139m $0.1026 $0.016
FY13 $28.851m $0.0719 $0.015
FY14 $43k $0.0001 $0.01
FY15 $20.315m $0.0507 $0.0125
FY16 $26.266m $0.0655 $0.01375
FY17 $3.305m $0.0082 $0.01
FY18 $13.732m $0.0342 $0.012
FY19 $45.371m $0.1131 $0.0185

https://links.sgx.com/FileOpen/_Form%201...eID=597508

CEO Lee Sze Hao's wife bought 570,000 shares at $0.405 over 2 days.

From Wee Hur's results announcement: "We are pleased to announce to date, that the Group’s co-developing development, Parc Botannia, 100% of the units have been issued option to
purchase. The construction is in progress and is expected to be completed by 2020."

https://links.sgx.com/FileOpen/_Form%201...eID=598481

Independent Director, Tan Tong Guan, bought 200,000 shares at $0.403.

https://links.sgx.com/FileOpen/_Form%201...eID=600222

He bought a further 500,000 shares at $0.37 on Monday.

It feels to me that he wont buy to push up prices. There will be at best some support. In fact, my impression of him is if he can buy at lower prices, it is even better, why will he care to have higher prices when he can buy cheaper

(13-03-2020, 02:58 PM)money Wrote: It feels to me that he wont buy to push up prices. There will be at best some support. In fact, my impression of him is if he can buy at lower prices, it is even better, why will he care to have higher prices when he can buy cheaper

Of course, like others who have also been buying in the last few days when the SGX market was engulfed with great fear, Tan is taking advantage of the fallen price to add more Sing Holdings shares cheap, especially since a record $0.0185/share final dividend is coming in May. Against the latest 31Dec19 NAV/share at $0.737, the last done at $0.36 has to be a great buy, especially since Sing Holdings is due to book the approx. another half of the development profit of the practically fully sold Parc Botannia condo project in FY20. Looking at the latest B/S, Sing Holdings will likely emerge as a net cash company in FY20 when the remaining sale proceeds of Parc Botannia are in..
https://links.sgx.com/FileOpen/SHL_FY201...eID=596867

It is sad to witness so many faint-hearted shareholders under fear would just throw away their wealth.