Sing Investments & Finance

[butcher]

I think I just read on papers Singapura Finance is raising funds via rights issue if I not wrong.

Seems that both smaller finance companies raising cash.

I think also may be due to more stringent capital adequacy requirements from MAS so they shore up their equity

[InvestArk]

Margins should increase when interest rates trend up.

Another interesting thing to note - Morph Investments holds 1,895,000 (1.2%) shares in Sing Investments.

I think Cash flow/ Dividend would be a better approach to value a finance company , NAV is basically made up of loans portfolio / Title deeds which may or may not reflect the quality of such assets accurately. But then again , YMMV.

[InvestArk]

Most likely with the USA stopping their qe, the finance companies should be seeing an momentarily increase in their loans take up as companies wanna lock in the low rates before they go up.

[sgpunter]

The below is taken from their Annual Report. With interest rates having nowhere to go but up, I am quietly confident that there is much more upside potential to this stock vis-a-vis downside.

The potential 40 year special dividend payout and gross discount to NAV are added bonuses.

Interest rate sensitivity analysis

A 100 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates. As at 31 December 2013, a 100 basis point increase/(decrease) in the interest rate at the end of the reporting period would increase/(decrease) profit by $845,000 (2012: increase/(decrease) profit by $1,078,000) and fair value reserves by $2,029,000 (2012: increase/(decrease) by $1,935,000) mainly a result of the changes in the fair value of available-for-sale fixed rate instruments.

[Shrivathsa]

The below is taken from their Annual Report. With interest rates having nowhere to go but up, I am quietly confident that there is much more upside potential to this stock vis-a-vis downside.

The potential 40 year special dividend payout and gross discount to NAV are added bonuses.  

Interest rate sensitivity analysis

A 100 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates. As at 31 December 2013, a 100 basis point increase/(decrease) in the interest rate at the end of the reporting period would increase/(decrease) profit by $845,000 (2012: increase/(decrease) profit by $1,078,000) and fair value reserves by $2,029,000 (2012: increase/(decrease) by $1,935,000) mainly a result of the changes in the fair value of available-for-sale fixed rate instruments.

Over the last one year, in terms of price appreciation, the appreciation is -4%.

Attached is the chart.

On the positive side, the dividend of 6 cents would have cushioned the loss.

Q3 results seem okay with an uptick in revenue.

Only provisions causing a loss, seems like a good time to buy in and reap the April dividend of 6 cents.

April 2015 - 6 cents
April 2014 - 5 cents
April 2013 - 5 cents
May 2012 - 10 cents
May 2011 - 10 cents

Caveat is that they do have rights issues in 2012 and 2007, so, does do capital calls

[butcher]

Share price at $1.16 (accurate at time of posting) which is around the trough we seen in 2009 aftermath of the GFC.

NAV at $1.98 (as at 31/12/15)
EPS at 8.13 cents (FY15)

[CY09]

Only worth it as a dividend stock (5 cents dividend). I would expect a 4-4.5% yield from this stock, making its fair value $1.10-$1.25

Dont expect privatization as the Lee Family is the largest shareholder

[money]

but if business is not too good, the lee family will not hesitate to cut dividend, so a 4-4.5% yield can easily drop to a 2-3% yield overnight.

[butcher]

Thanks buddy for your insight

[weijian]

Rather than a logo change, would it be better for non-bank financiers (like Sing Investment and Finance) to emulate what Aeon Credit Services (listed on Bursa Msia) has done across the straits? After all, even after accounting for MYR depreciation, ACS has out-performed SingInvestments and Finance by a mile in terms of share price since GFC2008.

Meet a refreshed Sing Investments & Finance Limited

Over the past 60 years, Sing Investments & Finance has served the interests of both companies and individuals with distinction and pride. Whether it is partnering with the business community to meet their aspirations or providing a safe haven for individuals to protect and grow their funds, Sing Investments & Finance has always sought to be a trusted partner to our clients.

To mark our 60th anniversary, we have refreshed our brand and our logo, while remaining steadfast to the values that have marked our journey

https://links.sgx.com/FileOpen/SIFL%20-%...eID=792626