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Sing Holdings - Grossly undervalued
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JohnTan625
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10-Dec-2020 21:17
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Good volume over the last two days, however it is likely acquired by a limited number of buyers. There is also no rush by buyers to take up the shares. However, this is likely to change, with more catalysts taking place or in the run up to the next release of financial results. Next results release in mid Feb 2021. Next dividend payout in May 2021.
Dividend trend FY2019 - $0.0185 out of $0.1131, 16% (of net earnings) FY2018 - $0.012 out of $0.0278, 43% FY2017 - $0.01 out of $0.0082, 122% FY2016 - $0.01375 out of $0.0655, 21% Consistent earnings payout of minimum 1 cent dividend, higher if it?s a highly profitable year. With consistent good business and dividends, the share price has much more room to go further up. Am heavily vested for the long run, and am expecting one or more catalysts to take place in the near term. (TOP of Parc Botannia, launch of new project, one more new project acquisition, covid situation stabilisation for Melbourne business, bulk disposal of existing investment properties or any capital action). Dyodd |
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stockinvestor
Master |
10-Dec-2020 17:08
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215,000 shares done today at $0.37 and it still wants 303,800 shares more. | ||||
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stockinvestor
Master |
10-Dec-2020 08:56
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Big buyer wants 518,800 shares at $0.37, can those who want to sell quickly sell to it? lol. | ||||
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JohnTan625
Member |
08-Dec-2020 21:55
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In terms of earnings potential and profile,
1. Some property developers are trading at 0.45 P/BV. 2. International developers at 0.65-0.69 P/BV. 3. Some developers reaching 0.9 P/BV, with a different risk profile. Sing Holdings is considered very attractive at 0.50 P/BV - given its profitability from Parc Botannia and clear and confirmed project pipeline. And with some potential catalysts, I believe it has further significant headroom. |
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brchkho1
Master |
08-Dec-2020 20:10
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The main reason is EC has no progress payment schedule.
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stockinvestor
Master |
08-Dec-2020 17:03
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756,200 shares done today and it still wants 443,900 more. Total 1.2m shares. | ||||
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JohnTan625
Member |
08-Dec-2020 09:52
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For EC project is, although est. 2024 TOP - full revenue recognition. In the meantime, if there is a launch Sep-2021, it can base build the bookings and sell most within a 1-2 years by 2022, and then allow them visibility to switch out to additional project sites (if they are able to sell out 60-70% by then). All these could take place within these 12-24 months? period. Recognition of revenue by then would be more of a matter-of-time issue.
Sing Holdings has shown that it can do multiple projects during the same period - like in 2013, Robin launch and Waterwoods EC launch. That, as mentioned below, forms a catalyst for re-rating. Capital allocation and project execution for property development business are key factors for success. |
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stockinvestor
Master |
08-Dec-2020 09:40
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The big $0.37 buyer was last seen on 29/10. Sing Holdings won the tender for the EC site after that market closed that day. Today' s return is a positive sign and volume is already at its highest since that day 5 minutes into the session. No transactions since then is because no one is selling to the big $0.37 buyer since 905am.
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lifeisgood
Supreme |
08-Dec-2020 09:20
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No lah, I just hold. I bought more Ho Bee instead as it moves...
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stockinvestor
Master |
08-Dec-2020 09:19
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Wah, you come back and post when the big buyer returns at $0.37. Are you the big buyer bro? lol
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lifeisgood
Supreme |
08-Dec-2020 09:08
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For Executive Condos, profits only recognised after project TOP, like perhaps 5 years from now. So there will be a gap of at least 3 - 5 years of zero profit recognition from this project. | ||||
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JohnTan625
Member |
07-Dec-2020 21:36
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Trading range bound 0.36-0.37 since 20 Oct 2020.
NAV - 0.7396 P/BV - 0.5 Div yield @ 5% (might drop due to share price increases and/or allocation of funds to Yishun Ave 9 project. A more stable trading range in the meantime should be 0.41 to 0.43 based on usual range P/BV. Catalysts to look out for: 1. TOP for Parc Botannia in est. 6 to 9 months? time 2. Launch of new Yishun Ave 9 EC Site in late 2021/ early 2022 3. Recovery of Australia Hotel Business 4. Another acquisition or project I believe with one to two of the above catalysts - we could be looking at 0.55-0.63 price range, which is a price it is capable of hitting, as it is sitting on higher decent book value from Parc Botannia in the near term. Some investors may apply a 30% discount from its RNAV of est. 1.00-1.15 range (with the new Yishun Ave 9 project) (i.e. share price of - 0.70-0.80), however I think it might be a bit too far in the horizon or something very speculative for this to take place. I might be wrong. Dyodd |
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brchkho1
Master |
09-Nov-2020 12:12
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EC projects are easi y sell out.
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stockinvestor
Master |
09-Nov-2020 08:31
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https://www.edgeprop.sg/property-news/behind-bullish-bids-gls-sites-tanah-merah-and-yishun | ||||
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brchkho1
Master |
06-Oct-2020 17:11
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Let' s see if this one can clear the RS level of 38.
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stockinvestor
Master |
06-Oct-2020 10:13
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highest volume day since 9/3/2020. | ||||
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stockinvestor
Master |
25-Sep-2020 11:35
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$0.375 finally cleared albeit on low volume so far. | ||||
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stockinvestor
Master |
18-Sep-2020 21:32
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coz there are still disillusioned sellers who waited for too long and are still selling out. at least now there is a big buyer who is buying up from all these sellers who are throwing in the towel haha.
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JTINVESTOR
Member |
18-Sep-2020 00:29
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Can anybody explain why this stock price is so cheap? The net asset value is somch higher than the stock price... certainly the price should be higher than what it is today... of course not match the NAV but at least in the 50 cent range | ||||
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stockinvestor
Master |
10-Sep-2020 15:16
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Is it not obvious enough to sellers that when you dump 1m shares to $0.37 and the buyer says, " I want 1m more!" Sellers should ask for a higher price? lol | ||||
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