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Singapore Shipping

DB:W1M
Snowflake Description

Good value average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
W1M
DB
SGD122M
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

Singapore Shipping Corporation Limited, an investment holding company, owns and manages ships in Singapore, Japan, and internationally. The last earnings update was 79 days ago. More info.


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W1M Share Price and Events
7 Day Returns
0%
DB:W1M
4.1%
Europe Shipping
2.8%
DE Market
1 Year Returns
6.9%
DB:W1M
6.2%
Europe Shipping
3%
DE Market
W1M Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Singapore Shipping (W1M) 0% 3.9% 2.8% 6.9% 14.2% 26.7%
Europe Shipping 4.1% -1.6% 9.8% 6.2% 6.6% -14.5%
DE Market 2.8% 0.2% 1.3% 3% 8% 23.6%
1 Year Return vs Industry and Market
  • W1M matched the Shipping industry (6.2%) over the past year.
  • W1M outperformed the Market in Germany which returned 3% over the past year.
Price Volatility
W1M
Industry
5yr Volatility vs Market

W1M Value

 Is Singapore Shipping undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Singapore Shipping to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Singapore Shipping.

DB:W1M Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:W1M
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Shipping Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.733 (1 + (1- 17%) (68.59%))
1.101
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.101 * 5.96%)
6.79%

Discounted Cash Flow Calculation for DB:W1M using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Singapore Shipping is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:W1M DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.79%)
2020 25.48 Est @ 0.92% 23.86
2021 25.66 Est @ 0.71% 22.50
2022 25.81 Est @ 0.57% 21.19
2023 25.93 Est @ 0.47% 19.94
2024 26.03 Est @ 0.39% 18.74
2025 26.12 Est @ 0.34% 17.61
2026 26.20 Est @ 0.31% 16.54
2027 26.27 Est @ 0.29% 15.54
2028 26.35 Est @ 0.27% 14.59
2029 26.41 Est @ 0.26% 13.69
Present value of next 10 years cash flows $184.00
DB:W1M DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $26.41 × (1 + 0.23%) ÷ (6.79% – 0.23%)
$403.50
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $403.50 ÷ (1 + 6.79%)10
$209.21
DB:W1M Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $184.00 + $209.21
$393.21
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $393.21 / 412.75
$0.95
DB:W1M Discount to Share Price
Calculation Result
Exchange Rate USD/SGD
(Reporting currency to currency of SGX:S19)
1.371
Value per Share
(SGD)
= Value per Share in USD x Exchange Rate (USD/SGD)
= $0.95 x 1.371
SGD1.31
Non-primary Listing Adjustment Factor 1 share in DB:W1M represents 0.62712x of SGX:S19
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.62712x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 1.31 x 0.62712
€0.82
Value per share (EUR) From above. €0.82
Current discount Discount to share price of €0.19
= -1 x (€0.19 - €0.82) / €0.82
77.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Singapore Shipping is available for.
Intrinsic value
>50%
Share price is €0.185 vs Future cash flow value of €0.81933
Current Discount Checks
For Singapore Shipping to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Singapore Shipping's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Singapore Shipping's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Singapore Shipping's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Singapore Shipping's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:W1M PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $0.02
SGX:S19 Share Price ** SGX (2019-10-11) in SGD SGD0.3
SGX:S19 Share Price converted to USD reporting currency Exchange rate (SGD/ USD) 0.729 $0.22
Europe Shipping Industry PE Ratio Median Figure of 26 Publicly-Listed Shipping Companies 11.43x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Singapore Shipping.

DB:W1M PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:S19 Share Price ÷ EPS (both in USD)

= 0.22 ÷ 0.02

8.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Singapore Shipping is good value based on earnings compared to the Europe Shipping industry average.
  • Singapore Shipping is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Singapore Shipping's expected growth come at a high price?
Raw Data
DB:W1M PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 8.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-3.1%per year
Europe Shipping Industry PEG Ratio Median Figure of 14 Publicly-Listed Shipping Companies 0.79x
Germany Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 1.39x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Singapore Shipping, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Singapore Shipping's assets?
Raw Data
DB:W1M PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $0.22
SGX:S19 Share Price * SGX (2019-10-11) in SGD SGD0.3
SGX:S19 Share Price converted to USD reporting currency Exchange rate (SGD/ USD) 0.729 $0.22
Europe Shipping Industry PB Ratio Median Figure of 43 Publicly-Listed Shipping Companies 0.76x
Germany Market PB Ratio Median Figure of 598 Publicly-Listed Companies 1.74x
DB:W1M PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:S19 Share Price ÷ Book Value per Share (both in USD)

= 0.22 ÷ 0.22

0.99x

* Primary Listing of Singapore Shipping.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Singapore Shipping is overvalued based on assets compared to the Europe Shipping industry average.
X
Value checks
We assess Singapore Shipping's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Shipping industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Shipping industry average (and greater than 0)? (1 check)
  5. Singapore Shipping has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

W1M Future Performance

 How is Singapore Shipping expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Singapore Shipping, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Singapore Shipping expected to grow at an attractive rate?
  • Singapore Shipping's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Singapore Shipping's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Unable to compare Singapore Shipping's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:W1M Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:W1M Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -3.1%
Europe Shipping Industry Earnings Growth Rate Market Cap Weighted Average 23.5%
Europe Shipping Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:W1M Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:W1M Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 48 25 10
2019-03-31 48 24 11
2018-12-31 47 25 10
2018-09-30 47 25 11
2018-06-30 46 23 11
2018-03-31 46 23 10
2017-12-31 45 24 9
2017-09-30 44 23 10
2017-06-30 44 25 10
2017-03-31 43 25 9
2016-12-31 44 23 8
2016-09-30 45 25 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Singapore Shipping's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Singapore Shipping is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:W1M Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Singapore Shipping Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:W1M Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 0.02
2019-03-31 0.02
2018-12-31 0.02
2018-09-30 0.03
2018-06-30 0.02
2018-03-31 0.02
2017-12-31 0.02
2017-09-30 0.02
2017-06-30 0.02
2017-03-31 0.02
2016-12-31 0.02
2016-09-30 0.02

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Singapore Shipping will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Singapore Shipping's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Singapore Shipping has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

W1M Past Performance

  How has Singapore Shipping performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Singapore Shipping's growth in the last year to its industry (Shipping).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Singapore Shipping's year on year earnings growth rate has been positive over the past 5 years.
  • Singapore Shipping's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Singapore Shipping's 1-year earnings growth is negative, it can't be compared to the Europe Shipping industry average.
Earnings and Revenue History
Singapore Shipping's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Singapore Shipping Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:W1M Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 47.55 10.30
2019-03-31 48.47 10.58
2018-12-31 47.29 10.00
2018-09-30 47.45 11.05
2018-06-30 46.49 10.60
2018-03-31 46.23 10.44
2017-12-31 45.16 9.48
2017-09-30 44.05 9.60
2017-06-30 44.41 9.51
2017-03-31 43.46 8.55
2016-12-31 44.12 8.20
2016-09-30 45.21 8.24
2016-06-30 45.05 9.18
2016-03-31 44.92 9.59
2015-12-31 43.93 10.62
2015-09-30 41.34 10.50
2015-06-30 38.10 9.09
2015-03-31 34.71 8.90
2014-12-31 32.86 8.95
2014-09-30 32.15 7.98
2014-06-30 32.62 8.41
2014-03-31 34.45 8.56
2013-12-31 31.21 7.42
2013-09-30 27.69 6.97
2013-06-30 24.04 7.51
2013-03-31 19.91 6.81
2012-12-31 20.01 7.73

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Singapore Shipping has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Singapore Shipping used its assets more efficiently than the Europe Shipping industry average last year based on Return on Assets.
  • Singapore Shipping's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Singapore Shipping's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Shipping industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Singapore Shipping has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

W1M Health

 How is Singapore Shipping's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Singapore Shipping's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Singapore Shipping is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Singapore Shipping's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Singapore Shipping's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Singapore Shipping Company Filings, last reported 3 months ago.

DB:W1M Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 91.96 60.32 31.16
2019-03-31 92.28 62.24 28.61
2018-12-31 91.32 64.16 20.31
2018-09-30 91.09 66.07 18.60
2018-06-30 91.61 67.99 17.81
2018-03-31 89.16 69.91 16.82
2017-12-31 85.08 71.91 16.27
2017-09-30 81.27 74.03 13.18
2017-06-30 81.74 76.03 14.39
2017-03-31 79.63 77.98 12.15
2016-12-31 77.46 80.01 7.34
2016-09-30 71.07 92.56 12.98
2016-06-30 71.72 96.03 13.72
2016-03-31 71.24 97.95 13.52
2015-12-31 75.35 99.35 11.90
2015-09-30 70.08 102.70 8.21
2015-06-30 71.40 105.79 10.45
2015-03-31 66.38 108.66 7.50
2014-12-31 65.11 15.90 6.15
2014-09-30 62.65 17.06 4.11
2014-06-30 64.52 18.27 22.71
2014-03-31 62.53 19.40 20.22
2013-12-31 60.05 20.59 15.40
2013-09-30 58.07 21.77 12.64
2013-06-30 59.16 22.92 16.12
2013-03-31 57.35 24.18 18.61
2012-12-31 56.13 25.33 18.44
  • Singapore Shipping's level of debt (65.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (28.3% vs 65.6% today).
  • Debt is well covered by operating cash flow (42%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.5x coverage).
X
Financial health checks
We assess Singapore Shipping's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Singapore Shipping has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

W1M Dividends

 What is Singapore Shipping's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.34%
Current annual income from Singapore Shipping dividends.
If you bought €2,000 of Singapore Shipping shares you are expected to receive €67 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Singapore Shipping's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Singapore Shipping's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:W1M Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Shipping Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 2.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:W1M Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-07-10 0.007 3.465
2019-05-23 0.007 3.507
2018-07-11 0.007 3.462
2018-05-24 0.007 3.551
2017-07-05 0.007 3.446
2017-05-26 0.007 3.710
2016-07-12 0.007 3.820
2016-05-30 0.007 3.630
2015-07-14 0.007 3.333
2014-07-11 0.007 3.512
2013-07-09 0.008 4.353
2012-07-12 0.008 4.792
2012-05-23 0.008 5.365
2011-07-18 0.008 5.238
2011-05-23 0.008 4.512
2010-07-14 0.007 4.059
2009-07-16 0.007 3.638
2009-05-27 0.007 3.837

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Singapore Shipping's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Singapore Shipping's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Singapore Shipping afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Singapore Shipping has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

W1M Management

 What is the CEO of Singapore Shipping's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yew Heng Ow
AGE 39
TENURE AS CEO 4.4 years
CEO Bio

Mr. Yew Heng Ow has been the Chief Executive Officer of Singapore Shipping Corporation Limited and Stamford Land Corporation Ltd since May 19, 2015. Mr. Ow has been an Executive Director of Stamford Land Corporation Ltd since November 8, 2010. Mr. Ow has been Executive Director of Singapore Shipping Corporation Limited since August 10, 2010. He served as Assistant to Chief Operating Officer of MYP Ltd. from January 15, 2010 to July 29, 2010. Mr. Ow served as an Assistant to the Chief Operating Officer for Singapore Shipping Corporation Limited and Stamford Land Corporation Ltd. since January 2010. Mr. Ow assisted the Chief Operating Officer with overall management of the respective businesses, including the areas of strategy development, operations, marketing communications, finance and human resources. He also assisted the Chief Operating Officer to evaluate new business opportunities, including feasibility studies on potential developments, investments and transactions. Mr. Ow served as Assistant to Chief Operating Officer for Cougar Logistics Corporation Ltd. from January 2010 to July 2010. He served as Accounts Executive at DVG Whartons Advertising, Singapore from December 2001 to May 2002. Mr. Ow served as an Analyst, Private Wealth management at Deutsche Bank AG, Singapore, where he was responsible for analyzing market trends for South Asia, research on multiple asset classes and providing client investment and portfolio advisory services. He has been an Executive Director at Singapore Shipping Corporation Limited since August 10, 2010. He has been a Non-Executive Director of Cougar Logistics Corporation Ltd. since July 29, 2010. He has been a Director at Stamford Hotels (NZ) Limited since July 17, 2014. He serves as a Director at C.K. Ow Holdings Pte Ltd., Maritime Properties Pte Ltd., SVC Pte Ltd., Hai Sun Hup Group Pte Ltd., Terra Vista Pte Ltd., Sir Stamford Hotel (Australia) Pty Ltd and Satu Kosong Pty Ltd. He served as a Director of MYP Ltd. from July 29, 2010 to July 27, 2012. Mr. Ow holds a Bachelor of Business degree from the University of Technology, Sydney, where he majored in Accounting & Management.

CEO Compensation
  • Insufficient data for Yew Heng to compare compensation growth.
  • Insufficient data for Yew Heng to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Singapore Shipping management team in years:

3.5
Average Tenure
44
Average Age
  • The tenure for the Singapore Shipping management team is about average.
Management Team

Chio Kiat Ow

TITLE
Executive Chairman
AGE
73

Yew Heng Ow

TITLE
CEO & Executive Director
AGE
39
TENURE
4.4 yrs

Cheo Guan Ow

TITLE
Deputy Executive Chairman
AGE
70

Li Huang Lee

TITLE
CFO & Company Secretary
AGE
42
TENURE
2.4 yrs

Pansy Lim

TITLE
Chief Operating Officer
AGE
46
TENURE
5.3 yrs

Benedict Tan

TITLE
Chief Legal Officer & Senior Director of Business Development

Irene Tan

TITLE
Assistant General Manager of Sales & Marketing

Helen Miao

TITLE
Human Resource Director

Kiersten Ow

TITLE
Manager of Treasury
AGE
37

Hui Yee Cheok

TITLE
Company Secretary
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure and age of the Singapore Shipping board of directors in years:

5.7
Average Tenure
57.5
Average Age
  • The tenure for the Singapore Shipping board of directors is about average.
Board of Directors

Chio Kiat Ow

TITLE
Executive Chairman
AGE
73
TENURE
19.4 yrs

Yew Heng Ow

TITLE
CEO & Executive Director
AGE
39
TENURE
9.2 yrs

Cheo Guan Ow

TITLE
Deputy Executive Chairman
AGE
70
TENURE
19.8 yrs

Jui Ping Ng

TITLE
Lead Independent Director
AGE
69
TENURE
2.3 yrs

Pebble Sia

TITLE
Independent Non-Executive Director
AGE
46
TENURE
2.3 yrs

Wei Beng Huong

TITLE
Independent Non-Executive Director
AGE
46
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Singapore Shipping's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Singapore Shipping has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

W1M News

Simply Wall St News

W1M Company Info

Description

Singapore Shipping Corporation Limited, an investment holding company, owns and manages ships in Singapore, Japan, and internationally. The company operates in two segments, Ship Owning, and Agency and Logistics. It charters various types of vessels; and offers ship management services comprising technical management, procurement, and crew procurement and management, as well as ship inspection and new construction consultancy services. The company also provides shipping agency and terminal services, including vessel, marketing, and documentation support, as well as vessel handling and stevedoring; and specialized services, such as supervision of loading/discharging operations by port captains, vessel pre-planning for stowage, and coordinating with masters and agents for vessel turn-around and dispatch. In addition, it offers logistics and warehousing services, such as international sea/airfreight forwarding, door-to-door delivery, vessel/aircraft chartering, customs clearance and documentation, certificate of origin arrangement, carnet and cross trade shipment, and project management services. Further, the company is involved in packing and re-packing of spare parts, and container stuffing, as well as distribution, warehousing, and storage operations. Singapore Shipping Corporation Limited was incorporated in 1988 and is based in Singapore.

Details
Name: Singapore Shipping Corporation Limited
W1M
Exchange: DB
Founded: 1988
SGD80,349,829
412,753,891
Website: http://www.singaporeshipping.com.sg
Address: Singapore Shipping Corporation Limited
No. 09-01 Southpoint,
200 Cantonment Road,
Singapore,
089763,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX S19 Ordinary Shares Singapore Exchange SG SGD 27. Nov 2000
DB W1M Ordinary Shares Deutsche Boerse AG DE EUR 27. Nov 2000
Number of employees
Current staff
Staff numbers
0
Singapore Shipping employees.
Industry
Marine
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/13 21:33
End of day share price update: 2019/10/11 00:00
Last earnings filing: 2019/07/26
Last earnings reported: 2019/06/30
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.