SIIC Environment Holding Ltd

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2 years 8 months ago - 2 years 8 months ago #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: 2 years 8 months ago by ngcheeki.

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2 years 8 months ago #25777 by josephyeo
Hi ngcheeki. tks for sharing. Points noted.

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2 years 6 months ago - 2 years 6 months ago #25834 by josephyeo
Share some datas on SIIC Environment:

Revenue (S$ X1000)
FY'16 - 556100
FY'17 - 974248
FY'18 - 1115802
FY'19 - 1251499
FY'20 - 1312907
1H'21 - 693002

Profits (S$ X1000)
FY'16 - 95534
FY'17 - 112487
FY'18 - 113450
FY'19 - 126053
FY'20 - 133422
1H'21 - 69876

As seen from the above, the company has shown growth in revenue and profits. From 2016 to 2020 the revenue has grown from S$556.1 mil to S$1312.9 mil. In the same period the profit has grown from S$95.5 mil to S$133.4 mil. Current half year revenue and profit are also much higher compare to same period last year. In view of the growth trend, the result for current full year is likely to be the company's best in the last 5 years.

For info only. Vested!
Last edit: 2 years 6 months ago by josephyeo.

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2 years 6 months ago - 2 years 6 months ago #25835 by josephyeo
SIIC Environment just released another good set of half year 2021 result.
See below:

SIIC (S$ X1000)      HY' 21            HY' 21               %
revenue                 693002.1        554323.56          25.0
profit                     69875.61        59060.19           18.3

Revenue up by 25.0% and profit up by 18.3%.

Above for info only. Vested!
Last edit: 2 years 6 months ago by josephyeo.

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2 years 6 months ago #25836 by josephyeo
SIIC Environment - dividend history:

2018 - 2.0 cents
2019 - 1.0 cent
2020 - 1.0 cent
2021 - 0.5 cent interim.
Company normally does not declared interim dividend. Current
year is an exception where a dividend of 0.5 cent is declared. Going
forward, it is highly probable that another 1.0 cent would be declared
in the 2nd half, giving a full dividend of 1.5 cents.

On current price of 18.7 cents, the dividend yield, based on 1.0 cent is 5.34%.
On full year dividend of 1.5 cents the yield is 8.0%. The 1.5 cents may/may not
materialise.

For info only. Dyodd. Vested!

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2 years 6 months ago #25838 by josephyeo
Price history.

52 weeks
high - 25.0 cents
low - 17.2

2 years
high - 30.0 cents
low - 17.2

5 years
high - 66.5 cents
low - 17.2

at time of post - 19.3 cents

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