Homepage
PR Newswire
I mean most companies do not really go on forever like in the textbooks say
practically what is the average lifespan of listed companies?
practically what is the average lifespan of listed companies?
ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S.
›
ValueBuddies.com
›
Discussions on Value Investing
What is the average lifespan of listed companies?
What is the average lifespan of listed companies?
What is the average lifespan of listed companies?
28-10-2012, 03:40 PM
O. K.
Let's start with Singapore companies. How many companies are >25, > 50 & > 100 years? How old is our Stock Exchange anyway?
WB:-
1) Rule # 1, do not lose money. 2) Rule # 2, refer to # 1. 3) Not until you can manage your emotions, you can manage your money. Truism of Investments. A) Buying a security is buying RISK not Return B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return. NB:- My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore. 
28-10-2012, 09:39 PM
SES (Stock Exchange of Spore) was formed in 1973 and SGX was formed in 1999.
I think a distinction has to be made between the existence of the company and its listed status. eg. Boustead is a centennial but it was only listed on SGX/SES in 1975. So its been listed for >35 yrs. Just looking through the corporate info on SGX, the following are companies listed in stock exchange prior to the 1990's. [wrap] [table=Company Name] Asiamedic Limited Auric Pacific Group Limited Bonvests Holdings Limited Boustead Singapore Limited Chemical Industries (Far East) Limited China Auto Corporation Ltd China Merchants Holdings (Pacific) Ltd Chuan Hup Holdings Ltd Cosco Corporation (S) Limited DBS Group Holdings Limited ********************************* Furama Ltd. Fuji Offset Plates Manufacturing Limited GuocoLand Limited Haw Par Corporation Limited HL Global Enterprises Limited Hong Fok Corporation Ltd Hong Leong Finance Limited Hotel Grand Central Ltd Hotel Properties Limited Hotel Royal Limited ********************************* Hwa Hong Corporation Limited Inno-Pacific Holdings Limited Intraco Limited Jurong Cement Limited Khong Guan Flour Milling Limited Lee Kim Tah Holdings Limited Leeden Limited Lion Asiapac Limited Lum Chang Holdings Limited L.C. Development Ltd ********************************* Metro Holdings Limited Murata Mfg Co. Ltd Neptune Orient Lines Limited QAF Limited SembCorp Marine Limited Sing Investments & Finance Limited Singapore Airlines Limited Singapore Reinsurance Corporation Limited SP Corporation Limited Tuan Sing Holdings Limited ********************************* United Industrial Corporation Limited United International Securities Limited United Overseas Bank Limited United Overseas Insurance Limited Wheelock Properties (S) Ltd Wing Tai Holdings Limited [/table] [table=Market] CATALIST/Sesdaq SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD *************** SGX MAINBOARD CATALIST SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD *************** SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD *************** SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD *************** SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD SGX MAINBOARD [/table] [table=Listed Date] 30 September 1987 2 June 1985 26 October 1973 17 October 1975 17 December 1973 June 1968 17 August 1981 15 December 1983 7 August 1979 29 November 1968 *************** 1 September 1976 6 May 1988 14 November 1978 17 November 1969 10 October 1984 8 July 1981 10 July 1981 24 November 1978 17 June 1982 2 December 1968 *************** 26 July 1979 24 May 1983 18 December 1972 2 July 1979 12 March 1969 22 August 1984 10 July 1975 8 February 1982 28 December 1984 15 August 1973 *************** 1973 12 August 1976 19 May 1981 25 August 1967 18 September 1987 7 July 1983 18 December 1985 26 October 1987 20 September 1974 9 July 1973 *************** 17 March 1971 8 November 1978 20 July 1970 2 October 1978 15 June 1981 21 February 1989 [/table] [table=No of Years Listed] 25 27 39 37 39 44 31 29 33 44 **** 36 24 34 43 28 31 31 34 30 44 **** 33 29 40 33 43 28 37 30 28 39 **** 39 36 31 45 25 29 27 25 38 39 **** 41 34 42 34 31 23 [/table] [/wrap] The above list is probably incomplete and also does not take into account companies that were merged eg, comfortdelgro. Some other companies like BMT and F&N, I was unable to find the listing dates and did not include them but they surely has a listing history of >30 yrs. And others like C&C, OCBC, OUE, UOL etc.. [SOURCE] 1) SGX Corporate Info 2) Wikipedia - Companies Listed on Singapore Exchange 
Good list.
If it stays in business for many years and core business more or less stays the same, then we might have something worth looking at.
29-10-2012, 09:29 AM
(This post was last modified: 29-10-2012, 09:57 AM by Temperament.)
(28-10-2012, 11:29 PM)Big Toe Wrote: Good list. Generally speaking, it's quite true. but don't bet 100% on it. Some very long established companies may just get greedier and greedier and over leverage until the valley of no return when a black-swan suddenly appears. Especially financial companies like banks, brokerages, insurance, etc. One very good example is who can think that Lehman Brothers can go extinct? And many, many long established, humongous companies would have been extinct too if not for US Gov's bailed out. So i am quite wary of Financial Companies. These companies actually just moving people's money around ( in simple terms) - practically not much assets and equities. They can't afford too as money is their asset which has to be loaned out and then it may become a liability. i only have 1.6K DBS bank shares and 2.7k OCBC shares which i have bought in 2008/2009. i wish i am more daring as many people think our banking system / MAS works differently from the West (US & EURO). But i am not sure? Can any experts share their knowledge?  Thanks.
WB:-
1) Rule # 1, do not lose money. 2) Rule # 2, refer to # 1. 3) Not until you can manage your emotions, you can manage your money. Truism of Investments. A) Buying a security is buying RISK not Return B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return. NB:- My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
29-10-2012, 12:25 PM
(29-10-2012, 09:29 AM)Temperament Wrote:(28-10-2012, 11:29 PM)Big Toe Wrote: Good list. in terms of banking: value banks based more on book value rather than earnings If you find one below book value, especially tangible book value, worth looking at if paying multiple of book value, u r paying for growth so look at ROE and retention rate check out their capital ratio, u want it >10%, I think Singapore banks generally 12-14% from what I remember US banks were more aggressive, around 7-8% pre crisis I think during the crises Sg banks were thus more resilient to absorb in US, "assets" of the mortgage loans went bad compared to sg banks' mortgage assets were perfectly fine, so there u go... also make sure don't overleverage, check out asset/equity ratio this should be between 5-20x 10 would be a more normal range dividend stability and history is a bonus |
|
« Next Oldest | Next Newest »
|
Users browsing this thread: 3 Guest(s)