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.
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.
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.
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