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Hafary Holdings

SGX:5VS
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
5VS
SGX
SGD61M
Market Cap
  1. Home
  2. SG
  3. Capital Goods
Company description

Hafary Holdings Limited, an investment holding company, imports, exports, deals, distributes, and wholesales building materials. The last earnings update was 75 days ago. More info.


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5VS Share Price and Events
7 Day Returns
0%
SGX:5VS
-0.9%
SG Trade Distributors
-1.4%
SG Market
1 Year Returns
-13.9%
SGX:5VS
13.6%
SG Trade Distributors
0.8%
SG Market
5VS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hafary Holdings (5VS) 0% -5.3% -8.4% -13.9% -22% -32.4%
SG Trade Distributors -0.9% 3% 14.2% 13.6% -37.4% -59.3%
SG Market -1.4% 0.3% 1.8% 0.8% 1.6% -7.7%
1 Year Return vs Industry and Market
  • 5VS underperformed the Trade Distributors industry which returned 13.6% over the past year.
  • 5VS underperformed the Market in Singapore which returned 0.8% over the past year.
Price Volatility
5VS
Industry
5yr Volatility vs Market

Value

 Is Hafary Holdings 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 Hafary Holdings 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 Hafary Holdings.

SGX:5VS 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 12.6%
Perpetual Growth Rate 10-Year SG Government Bond Rate 1.8%

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 SGX:5VS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 5.4%
Trade Distributors Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.941 (1 + (1- 17%) (244.8%))
2.242
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.75% + (2 * 5.44%)
12.63%

Discounted Cash Flow Calculation for SGX:5VS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Hafary Holdings 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.

SGX:5VS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 12.63%)
2020 15.20 Est @ -1.71% 13.50
2021 15.10 Est @ -0.67% 11.90
2022 15.11 Est @ 0.05% 10.57
2023 15.19 Est @ 0.56% 9.44
2024 15.33 Est @ 0.92% 8.46
2025 15.51 Est @ 1.17% 7.60
2026 15.72 Est @ 1.34% 6.84
2027 15.95 Est @ 1.46% 6.16
2028 16.20 Est @ 1.55% 5.55
2029 16.46 Est @ 1.61% 5.01
Present value of next 10 years cash flows SGD85.00
SGX:5VS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SGD16.46 × (1 + 1.75%) ÷ (12.63% – 1.75%)
SGD153.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD153.91 ÷ (1 + 12.63%)10
SGD46.85
SGX:5VS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD85.00 + SGD46.85
SGD131.85
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD131.85 / 430.55
SGD0.31
SGX:5VS Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.31
Current discount Discount to share price of SGD0.14
= -1 x (SGD0.14 - SGD0.31) / SGD0.31
53.6%

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

Current Discount
Amount off the current price Hafary Holdings is available for.
Intrinsic value
>50%
Share price is SGD0.142 vs Future cash flow value of SGD0.30624
Current Discount Checks
For Hafary Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hafary Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hafary Holdings'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 Hafary Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hafary Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:5VS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in SGD SGD0.02
SGX:5VS Share Price ** SGX (2020-01-10) in SGD SGD0.14
Singapore Trade Distributors Industry PE Ratio Median Figure of 17 Publicly-Listed Trade Distributors Companies 11.59x
Singapore Market PE Ratio Median Figure of 378 Publicly-Listed Companies 13.43x

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

** Primary Listing of Hafary Holdings.

SGX:5VS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:5VS Share Price ÷ EPS (both in SGD)

= 0.14 ÷ 0.02

6.73x

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

  • Hafary Holdings is good value based on earnings compared to the SG Trade Distributors industry average.
  • Hafary Holdings is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does Hafary Holdings's expected growth come at a high price?
Raw Data
SGX:5VS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Trade Distributors Industry PEG Ratio Median Figure of 46 Publicly-Listed Trade Distributors Companies 1.65x
Singapore Market PEG Ratio Median Figure of 125 Publicly-Listed Companies 1.13x

*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 Hafary Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hafary Holdings's assets?
Raw Data
SGX:5VS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in SGD SGD0.16
SGX:5VS Share Price * SGX (2020-01-10) in SGD SGD0.14
Singapore Trade Distributors Industry PB Ratio Median Figure of 32 Publicly-Listed Trade Distributors Companies 0.49x
Singapore Market PB Ratio Median Figure of 603 Publicly-Listed Companies 0.77x
SGX:5VS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:5VS Share Price ÷ Book Value per Share (both in SGD)

= 0.14 ÷ 0.16

0.91x

* Primary Listing of Hafary Holdings.

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

  • Hafary Holdings is overvalued based on assets compared to the SG Trade Distributors industry average.
X
Value checks
We assess Hafary Holdings'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 Trade Distributors 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 Trade Distributors industry average (and greater than 0)? (1 check)
  5. Hafary Holdings 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.

Future Performance

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

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Hafary Holdings has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
5.7%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hafary Holdings expected to grow at an attractive rate?
  • Unable to compare Hafary Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Hafary Holdings's earnings growth to the Singapore market average as no estimate data is available.
  • Unable to compare Hafary Holdings's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:5VS Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
Asia Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 6%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 5.3%

*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
SGX:5VS 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 SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:5VS Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-09-30 111 18 9
2019-06-30 116 16 10
2019-03-31 120 14 11
2018-12-31 120 15 11
2018-09-30 118 19 10
2018-06-30 117 15 10
2018-03-31 116 18 9
2017-12-31 116 12 9
2017-09-30 117 10 9
2017-06-30 116 12 9
2017-03-31 113 9 8
2016-12-31 110 16 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Hafary Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Hafary Holdings 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
SGX:5VS 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 Hafary Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:5VS Past Financials Data
Date (Data in SGD Millions) EPS *
2019-09-30 0.02
2019-06-30 0.02
2019-03-31 0.03
2018-12-31 0.02
2018-09-30 0.02
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

*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 Hafary Holdings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Hafary Holdings is trading at Hafary Holdings'san attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  2. Hafary Holdings's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Capital Goods companies here
  3. Hafary Holdings's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Hafary Holdings'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 Asia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Asia 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.
Hafary Holdings 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.

Past Performance

  How has Hafary Holdings 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 Hafary Holdings's growth in the last year to its industry (Trade Distributors).
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.
  • Hafary Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Hafary Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Hafary Holdings's 1-year earnings growth is negative, it can't be compared to the SG Trade Distributors industry average.
Earnings and Revenue History
Hafary Holdings'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 Hafary Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:5VS Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 110.87 9.12 23.11
2019-06-30 115.55 9.79 23.23
2019-03-31 120.03 11.37 23.18
2018-12-31 120.47 10.72 22.96
2018-09-30 118.14 10.47 23.12
2018-06-30 117.30 9.57 22.61
2018-03-31 116.08 8.99 22.30
2017-12-31 115.99 8.75 22.17
2017-09-30 116.84 8.61 22.92
2017-06-30 115.83 8.58 22.79
2017-03-31 113.48 8.44 22.41
2016-12-31 109.97 8.17 22.20
2016-09-30 104.90 11.47 21.15
2016-06-30 106.10 11.09 20.62
2016-03-31 112.54 12.71 20.52
2015-12-31 116.32 13.65 20.21
2015-06-30 120.05 12.75 15.62
2015-03-31 110.62 10.07 17.75
2014-12-31 102.41 10.36 13.79
2014-09-30 96.62 9.25 16.00
2014-06-30 93.05 8.05 15.78
2014-03-31 89.24 5.80 16.13
2013-12-31 89.80 2.90 19.78
2013-09-30 85.56 12.39 19.94
2013-06-30 83.34 22.33 20.17
2013-03-31 78.27 24.13 17.45

*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.
  • Hafary Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hafary Holdings used its assets more efficiently than the SG Trade Distributors industry average last year based on Return on Assets.
  • Hafary Holdings's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Hafary Holdings'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 Trade Distributors 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.
Hafary Holdings has a total score of 1/6, 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.

Health

 How is Hafary Holdings'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 Hafary Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hafary Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hafary Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hafary Holdings'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 0.7x 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 Hafary Holdings Company Filings, last reported 3 months ago.

SGX:5VS Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 69.46 137.47 6.73
2019-06-30 66.35 142.21 5.66
2019-03-31 67.37 141.19 4.72
2018-12-31 66.19 142.65 6.06
2018-09-30 65.45 143.88 6.95
2018-06-30 62.56 146.45 6.69
2018-03-31 61.72 143.70 6.10
2017-12-31 61.08 144.14 6.00
2017-09-30 60.46 145.58 5.35
2017-06-30 57.98 144.38 5.79
2017-03-31 57.80 144.47 4.93
2016-12-31 57.73 142.51 5.09
2016-09-30 57.23 142.60 4.39
2016-06-30 54.50 134.16 3.14
2016-03-31 54.39 123.97 5.77
2015-12-31 54.80 123.03 8.53
2015-06-30 47.13 101.52 4.41
2015-03-31 45.02 99.53 4.96
2014-12-31 43.35 99.59 5.26
2014-09-30 44.42 92.68 5.62
2014-06-30 40.28 91.13 4.86
2014-03-31
2013-12-31 40.68 71.09 5.29
2013-09-30 46.75 64.57 9.58
2013-06-30 46.75 63.99 9.58
2013-03-31 46.75 63.99 9.58
  • Hafary Holdings's level of debt (197.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (208.9% vs 197.9% today).
  • Debt is not well covered by operating cash flow (13.3%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Hafary Holdings'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. Hafary Holdings 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.

Dividends

 What is Hafary Holdings'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
7.04%
Current annual income from Hafary Holdings dividends.
If you bought SGD2,000 of Hafary Holdings shares you are expected to receive SGD141 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?
  • Hafary Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).
  • Hafary Holdings's dividend is above the markets top 25% of dividend payers in Singapore (5.49%).
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
SGX:5VS 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
Singapore Trade Distributors Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.2%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 312 Stocks 4%
Singapore Minimum Threshold Dividend Yield 10th Percentile 1.6%
Singapore Bottom 25% Dividend Yield 25th Percentile 2.5%
Singapore Top 25% Dividend Yield 75th Percentile 5.5%

Industry and Market average data is calculated daily.

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

SGX:5VS Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-05-28 0.010 6.526
2018-05-25 0.015 9.059
2017-11-27 0.010 5.944
2017-08-04 0.010 6.060
2017-05-12 0.010 5.982
2017-03-27 0.010 5.731
2017-02-20 0.010 5.712
2016-05-06 0.015 8.418
2016-03-29 0.020 11.316
2016-02-18 0.020 10.632
2015-11-23 0.010 5.442
2015-05-05 0.018 9.606
2014-11-06 0.013 6.063
2014-10-31 0.013 5.939
2014-04-25 0.050 26.321
2013-10-09 0.053 26.022
2013-05-14 0.030 13.913
2013-03-13 0.025 10.698
2012-10-05 0.015 8.627
2012-08-24 0.015 12.500
2012-02-14 0.010 8.501
2011-08-29 0.005 3.631
2011-01-14 0.002 1.710

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

  • Hafary Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Hafary Holdings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Hafary Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x 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 Hafary Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - 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 Hafary Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hafary Holdings has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Hafary Holdings'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
Kok Ann Low
AGE 71
TENURE AS CEO 6 years
CEO Bio

Mr. Kok Ann Low Co-founded Hafary Holdings Limited and has been its Managing Director since March 6, 2015. Mr. Low has been the Chief Executive Officer of Hafary Holdings Limited since 2014. Mr. Low's primary function is to formulate and oversee the corporate and strategic development of Hafary Holdings Limited. He has been in the tile industry for more than 30 years. He served as an Executive Chairman of Hafary Holdings Limited since October 6, 2009 until March 6,2015. He has been a Director at Marble Trends Pte. Ltd. (alternate name, Mediterranean Trends Pte. Ltd.) since October 11, 2013 and Wood Culture Pte. Ltd. since June 26, 2014. He serves as a Director of Hafary Pte Ltd. and Hafary Logistics Pte. Ltd. Mr. Low has been an Executive Director at Hafary Holdings Ltd since October 6,2009. Mr. Low served as a Director of Hafary China Pte. Ltd. until February 12, 2014. Mr. Low attained a Government Higher School Certificate (Chinese) in 1969.

CEO Compensation
  • Insufficient data for Kok Ann to compare compensation growth.
  • Insufficient data for Kok Ann to establish whether their remuneration is reasonable compared to companies of similar size in Singapore.
Management Team

Kok Ann Low

TITLE
CEO, MD & Executive Director
AGE
71
TENURE
6 yrs

Mandy Lee

TITLE
Controller & Finance Manager
TENURE
1.6 yrs

Jackson Tay

TITLE
COO & Company Secretary
AGE
41

Simon Cheong

TITLE
Business Development Director & HR Manager
Board of Directors Tenure

Average tenure and age of the Hafary Holdings board of directors in years:

5.4
Average Tenure
50.5
Average Age
  • The tenure for the Hafary Holdings board of directors is about average.
Board of Directors

Beng-Chye Ong

TITLE
Independent Non-Executive Chairman
AGE
51
TENURE
4.8 yrs

Kok Ann Low

TITLE
CEO, MD & Executive Director
AGE
71
TENURE
10.3 yrs

Marcus Chow

TITLE
Independent Director
AGE
45
TENURE
10.2 yrs

Terrance Tan

TITLE
Independent Director
AGE
53
TENURE
10.2 yrs

Liu Shijin Low

TITLE
Non-Independent Non-Executive Director
AGE
44
TENURE
6 yrs

Edward Lee

TITLE
Non-Independent Non-Executive Director
AGE
64
TENURE
4.8 yrs

Yee Cheah

TITLE
Non-Independent Non-Executive Director
AGE
50
TENURE
4.8 yrs

Teak Jan Yong

TITLE
Non-Independent Non-Executive Director
AGE
48
TENURE
2 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 (SGD) Value (SGD)
X
Management checks
We assess Hafary Holdings'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. Hafary Holdings 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.

News

Simply Wall St News

Should You Like Hafary Holdings Limited’s (SGX:5VS) High Return On Capital Employed?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Hafary Holdings: 0.073 = S$12m ÷ (S$244m - S$85m) (Based on the trailing twelve months to June 2019.) So, Hafary Holdings has an ROCE of 7.3%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE. … Hafary Holdings has a medium level of current liabilities, which would boost its ROCE somewhat.

Simply Wall St -

Here's Why Hafary Holdings (SGX:5VS) Has A Meaningful Debt Burden

We note that Hafary Holdings Limited (SGX:5VS) does have debt on its balance sheet. … Zooming in on the latest balance sheet data, we can see that Hafary Holdings had liabilities of S$83.4m due within 12 months and liabilities of S$93.3m due beyond that. … Our View On the face of it, Hafary Holdings's net debt to EBITDA left us tentative about the stock, and its level of total liabilities was no more enticing than the one empty restaurant on the busiest night of the year.

Simply Wall St -

Do Insiders Own Shares In Hafary Holdings Limited (SGX:5VS)?

Taking a look at our data on the ownership groups (below), it's seems that institutions don't own shares in the company. … Insider Ownership Of Hafary Holdings The definition of company insiders can be subjective, and does vary between jurisdictions. … Private Company Ownership Our data indicates that Private Companies hold 51%, of the company's shares.

Simply Wall St -

Is Hafary Holdings Limited (SGX:5VS) A High Quality Stock To Own?

One way to conceptualize this, is that for each SGD1 of shareholders' equity it has, the company made SGD0.16 in profit. … The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Hafary Holdings: 16% = S$11m ÷ S$67m (Based on the trailing twelve months to March 2019.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Hafary Holdings's Debt And Its 16% ROE It's worth noting the significant use of debt by Hafary Holdings, leading to its debt to equity ratio of 2.28.

Simply Wall St -

A Close Look At Hafary Holdings Limited’s (SGX:5VS) 9.0% ROCE

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Hafary Holdings: 0.089 = S$13m ÷ (S$236m - S$87m) (Based on the trailing twelve months to December 2018.) So, Hafary Holdings has an ROCE of 9.0%. … Hafary Holdings's Current Liabilities And Their Impact On Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … Hafary Holdings's middling level of current liabilities have the effect of boosting its ROCE a bit.

Simply Wall St -

Did You Manage To Avoid Hafary Holdings's (SGX:5VS) 11% Share Price Drop?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During the unfortunate half decade during which the share price slipped, Hafary Holdings actually saw its earnings per share (EPS) improve by 29% per year. … The most recent dividend was actually lower than it was in the past, so that may have sent the share price lower

Simply Wall St -

Here's What Hafary Holdings Limited's (SGX:5VS) P/E Ratio Is Telling Us

To keep it practical, we'll show how Hafary Holdings Limited's (SGX:5VS) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Hafary Holdings's P/E ratio is 6.63. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Should Hafary Holdings Limited’s (SGX:5VS) Weak Investment Returns Worry You?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Can Hafary Holdings Limited's (SGX:5VS) ROE Continue To Surpass The Industry Average?

Our data shows Hafary Holdings has a return on equity of 15% for the last year. … That means that for every SGD1 worth of shareholders' equity, it generated SGD0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Kind Of Shareholder Owns Most Hafary Holdings Limited (SGX:5VS) Stock?

Every investor in Hafary Holdings Limited (SGX:5VS) should be aware of the most powerful shareholder groups. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Hafary Holdings is a smaller company with a market capitalization of S$77m, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Company Info

Description

Hafary Holdings Limited, an investment holding company, imports, exports, deals, distributes, and wholesales building materials. The company operates in three segments: General, Project, and Others. It offers ceramic and porcelain tiles, stones, wood furnishing products, mosaic products, quartz top products, sanitary wares and fittings, and kitchen products. The company also engages in dealing stones for home furnishings; residential, commercial, public, and industrial property development activities; and intellectual property holding and management business. It serves architecture, interior design, and renovation firms, as well as property developers and construction companies in Singapore, the People’s Republic of China, the Socialist Republic of Vietnam, the Republic of the Union of Myanmar, the Republic of Indonesia, Cambodia, Malaysia, Maldives, and internationally. The company was founded in 1980 and is headquartered in Singapore. Hafary Holdings Limited is a subsidiary of Hap Seng Investment Holdings Pte. Ltd.

Details
Name: Hafary Holdings Limited
5VS
Exchange: SGX
Founded: 1980
SGD61,138,100
430,550,000
Website: http://www.hafary.com.sg
Address: Hafary Holdings Limited
Hafary Centre,
105 Eunos Avenue 3,
Singapore,
409836,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX 5VS Ordinary Shares Singapore Exchange SG SGD 07. Dec 2009
Number of employees
Current staff
Staff numbers
364
Hafary Holdings employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/01/28 13:01
End of day share price update: 2020/01/10 00:00
Last earnings filing: 2019/11/14
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


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.