SIIC Environment Holding Ltd

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16 Jun 2021 22:20 - 16 Jun 2021 22:21 #25775 by ngcheeki

Some basics datas:

1. trailing p/e - 3.9X
2. dividend yield - 4.9%
3. nta - 72.0 cents
4. current price - 21.0 cents.
5. profit since 2018:
2018 - profits $112.4 mil
2019 - profits $126.0 mil
2020 - profits $131.3 mil

For info only. Dyodd.


Hi josephyeo

   Thanks for your generous sharing.

   1. Though the NAV (Net Asset Value) of SIIC is around S$0.72, it has large amount of intangible and goodwill amounting to RMB$7,057,832.00.. Hence, for conservative purpose if we assign 0 to the intangibles, the NTA  (Net Tangible Asset) is 16 S cents.

   2. Another issues with SIIC, is the net gearing ratio is high. Based on the net gearing ratio of (16.9 - 3.7)/9.05 or %146,  the gearing level is quite high and guess it is one of the reasons of why the share price is relatively low.  The issuing of rnm10b bond, however may reduce the interest rate expense and hopefully increase the company margin. Hope that the company put in more effort is reducing the gearing.

   3. The PE is pretty low at 4X and the yield of 5% is respectable though.


 
Last edit: 16 Jun 2021 22:21 by ngcheeki.

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17 Jun 2021 15:11 #25777 by josephyeo
Hi ngcheeki. tks for sharing. Points noted.

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