Latest Forum Topics /
Sing Inv & Fin
Last:1.13
+0.01
|
 Post Reply
|
|
Is the rights a good offer to take up?
|
|
|
Joelton
Supreme |
14-Dec-2020 09:21
|
|
x 0
x 0 Alert Admin |
Sing Investments & Finance
On Dec 9, FH Lee Holdings (Pte) Ltd acquired 135,818 shares of Sing Investments & Finance (SIF) for a consideration of S$176,563 at S$1.30 per share.
This increased the total interest of SIF' s managing director, Lee Sze Leong, and deputy managing director, Lee Sze Siong, to 30.41 per cent and 30.43 per cent, respectively.
Incorporated in Singapore on Nov 13, 1964, SIF listed on the Singapore Stock Exchange in July 1983.
The company has more than 50 years of lending experience in the financing arena in Singapore.
Back on Oct 26, the group reported that its 9MFY20 (ended Sept 30) net profit after tax declined 12.6 per cent to S$13.0 million compared to S$14.8 million in 9MFY19.
For the 9MFY20, the group built up an additional S$5.0 million allowances for credit losses compared to S$0.3 million in the previous corresponding period.
These were primarily general allowances for non-impaired assets made in view of the severe impact of the Covid-19 pandemic on the macroeconomic outlook.
|
| Useful To Me Not Useful To Me | |
|
Joelton
Supreme |
28-Jul-2020 11:43
|
|
x 0
x 0 Alert Admin |
Sing Investments' Q2 net profit down 22% due to allowances made for Covid-19
SING Investments & Finance on Monday posted a 22.2 per cent decline in net profit to S$3.9 million for its second quarter ended June 30.
This was due to the additional general allowances provided in view of the severe impact of the Covid-19 pandemic on the macroeconomic situation and outlook, it said.
For the first six months of 2020, the financial company provided an additional S$3.3 million allowance for credit losses, versus S$300,000 in the first half of 2019. This resulted in a 19.7 per cent decline in net profit to S$8 million for the first six months, compared to S$10 million a year ago.
These allowances were mostly general allowances for non-impaired assets. " The group continues to maintain adequate and prudent loss allowances in respect of its loan portfolio and other assets," it said.
Revenue dipped 1.1 per cent to S$21.1 million for the quarter, and rose 3.2 per cent to S$43.1 million for the six-month period.
Loans and advances declined slightly by 1.5 per cent from S$2.19 billion as at end-December 2019 to S$2.15 billion as at end-June 2020, largely because of the circuit-breaker measures, which included the suspension of non-essential services in April and May.
But the company said that it has been actively supporting its customers with their working capital and cash flow needs during this difficult period via the Enterprise Singapore (ESG) Temporary Bridging Loans and Enhanced working capital loans.
" If not for the new ESG loans, the decline in the loan balances would have been greater," it said.
Customers&rsquo deposits and balances decreased by 3.3 per cent to S$2.41 billion as at end-June 2020 compared to end-December 2019.
Notwithstanding the public health and economic crisis, the company is confident that its strong capital and liquidity positions will enable it to weather the crisis, it said.
|
| Useful To Me Not Useful To Me | |
|
|
|
|
waters
Senior |
25-Nov-2016 16:30
|
|
x 0
x 0 Alert Admin |
with interest rates rise imminent, i think the financial institutions will see an improvement in Net Interest Margins (" NIM" ), as the interest charged by them pegged to SIBOR, SOR etc will rise in a larger magnitude relative to their interest costs (i.e. interest on deposits etc.). The banks have a pretty good run up in share prices past few trading days. Guess there may be some positive sentiments spill over to the finance companies like Sing Invest and Hong Leong Finance by investors. |
| Useful To Me Not Useful To Me | |
|
waters
Senior |
22-Nov-2016 16:39
|
|
x 0
x 0 Alert Admin |
Realised that Finance Companies in Singapore are subjected to FInance Companies Act and they need to transfer a portion of earnings to reserve account. This is a factor to consider when analysing dividend payout. Maintenance of reserve fund by finance companies
18.
&mdash (1) Every finance company shall &mdash
(a)
maintain a reserve fund
(b)
transfer to that reserve fund out of the net profits of each year, after due provision has been made for taxation &mdash
(i)
so long as the amount of the reserve fund is less than 50% of the paid-up capital, a sum not less than 50% of those net profits
(ii)
so long as the amount of the reserve fund is not less than 50% but less than 100% of the paid-up capital, a sum not less than 25% of those net profits and
(iii)
so long as the amount of the reserve fund is 100% or more of the paid-up capital, a sum not less than 5% of those net profits.
[27/94]
(2) Any finance company which fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 and, in the case of a continuing offence, to a further fine of $2,000 for every day during which the offence continues after conviction.
Source: http://statutes.agc.gov.sg/aol/search/display/view.w3p ident=66f8f92d-039f-470a-9d95-0cb7bf0aad2f page=0 query=DocId%3A%22ca578f15-80c9-4bf2-9e6e-40993d7d2d92%22%20Status%3Ainforce%20Depth%3A0 rec=0#pr18-he-.
|
| Useful To Me Not Useful To Me | |
|
waters
Senior |
30-Apr-2016 16:00
|
|
x 0
x 0 Alert Admin |
I have browsed Sing Investment & Finance ("SIF") annual report for 2015 and summarised some points:- NAV @ $1.98/share RNAV @ $2.30/share Investment properties @ carrying value (CV) $24.075m Investment properties @ fair value (FV) $74.471m This surplus of $50.396m translate to approx $0.32/share Large public float of 70.94% Capital Adequacy Ratio (CAR) @ 14.32% (2014: 15.88%) Fairly stable and safe CAR EPS @ 8.13 cents (2014: 8.03 cents) Net Interest Margin (NIM) @ 1.5% (2014: 1.6%) Cost to income ratio @ 52.6% (2014: 56.4%) Loans to deposits ratio @ 85.1% (2014: 88.0%) Earnings fairly stable. NIM decreases slightly maybe due to lagged effects of its interest charge to borrowers which may have some lagged perios before their next interest rate reset periods occurred. Dividends per share @ 5 cents Yield approx 4.17% assuming share price at $1.20 No vested interests at the moment. Just considering it at the moment. |
| Useful To Me Not Useful To Me | |
|
|
|
|
kirana
Senior |
07-Apr-2015 15:11
|
|
x 0
x 0 Alert Admin |
This one also powerful... |
| Useful To Me Not Useful To Me | |