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Pan-United

SGX:P52
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
P52
SGX
SGD284M
Market Cap
  1. Home
  2. SG
  3. Capital Goods
Company description

Pan-United Corporation Ltd, an investment holding company, engages in the concrete and logistics businesses. The last earnings update was 2 days ago. More info.


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P52 Share Price and Events
7 Day Returns
6.7%
SGX:P52
2.2%
SG Trade Distributors
-0.1%
SG Market
1 Year Returns
70.2%
SGX:P52
14.8%
SG Trade Distributors
-2.7%
SG Market
P52 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pan-United (P52) 6.7% 8.1% 11.1% 70.2% -38.5% -52.9%
SG Trade Distributors 2.2% 0.5% 12% 14.8% -40.3% -58%
SG Market -0.1% -2.8% 0.1% -2.7% -2.2% -9.4%
1 Year Return vs Industry and Market
  • P52 outperformed the Trade Distributors industry which returned 14.8% over the past year.
  • P52 outperformed the Market in Singapore which returned -2.7% over the past year.
Price Volatility
P52
Industry
5yr Volatility vs Market

Value

 Is Pan-United 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 Pan-United 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 Pan-United.

SGX:P52 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 8.3%
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:P52
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 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.957 (1 + (1- 17%) (45.46%))
1.213
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.21
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.75% + (1.213 * 5.44%)
8.35%

Discounted Cash Flow Calculation for SGX:P52 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pan-United 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:P52 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 8.35%)
2020 26.38 Est @ 2.75% 24.35
2021 27.02 Est @ 2.45% 23.02
2022 27.63 Est @ 2.24% 21.72
2023 28.21 Est @ 2.09% 20.47
2024 28.77 Est @ 1.99% 19.27
2025 29.32 Est @ 1.92% 18.12
2026 29.87 Est @ 1.87% 17.04
2027 30.41 Est @ 1.83% 16.01
2028 30.96 Est @ 1.81% 15.05
2029 31.52 Est @ 1.79% 14.14
Present value of next 10 years cash flows SGD189.00
SGX:P52 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SGD31.52 × (1 + 1.75%) ÷ (8.35% – 1.75%)
SGD486.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD486.10 ÷ (1 + 8.35%)10
SGD218.04
SGX:P52 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD189.00 + SGD218.04
SGD407.04
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD407.04 / 701.41
SGD0.58
SGX:P52 Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD0.58
Current discount Discount to share price of SGD0.40
= -1 x (SGD0.40 - SGD0.58) / SGD0.58
31.1%

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

Current Discount
Amount off the current price Pan-United is available for.
Intrinsic value
31%
Share price is SGD0.4 vs Future cash flow value of SGD0.58032
Current Discount Checks
For Pan-United to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pan-United's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pan-United's share price is below the future cash flow value, but not 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 Pan-United's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pan-United's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:P52 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SGD SGD0.03
SGX:P52 Share Price ** SGX (2020-02-20) in SGD SGD0.4
Singapore Trade Distributors Industry PE Ratio Median Figure of 19 Publicly-Listed Trade Distributors Companies 13.84x
Singapore Market PE Ratio Median Figure of 382 Publicly-Listed Companies 13.43x

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

** Primary Listing of Pan-United.

SGX:P52 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:P52 Share Price ÷ EPS (both in SGD)

= 0.4 ÷ 0.03

13.65x

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

  • Pan-United is good value based on earnings compared to the SG Trade Distributors industry average.
  • Pan-United is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does Pan-United's expected growth come at a high price?
Raw Data
SGX:P52 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.65x
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 1.45x
Singapore Market PEG Ratio Median Figure of 124 Publicly-Listed Companies 1.22x

*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 Pan-United, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Pan-United's assets?
Raw Data
SGX:P52 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SGD SGD0.29
SGX:P52 Share Price * SGX (2020-02-20) in SGD SGD0.4
Singapore Trade Distributors Industry PB Ratio Median Figure of 33 Publicly-Listed Trade Distributors Companies 0.51x
Singapore Market PB Ratio Median Figure of 606 Publicly-Listed Companies 0.73x
SGX:P52 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:P52 Share Price ÷ Book Value per Share (both in SGD)

= 0.4 ÷ 0.29

1.39x

* Primary Listing of Pan-United.

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

  • Pan-United is overvalued based on assets compared to the SG Trade Distributors industry average.
X
Value checks
We assess Pan-United'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. Pan-United has a total score of 2/6, 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 Pan-United 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 Pan-United 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
6.1%
Expected Trade Distributors industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pan-United expected to grow at an attractive rate?
  • Unable to compare Pan-United's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Pan-United's earnings growth to the Singapore market average as no estimate data is available.
  • Unable to compare Pan-United's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:P52 Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Trade Distributors Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
Asia Trade Distributors Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 5.8%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*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:P52 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month 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:P52 Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SGX:P52 Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-12-31 772 43 21
2019-09-30 813 40 17
2019-06-30 840 6 15
2019-03-31 848 7 8
2018-12-31 866 2 6
2018-09-30 868 14 7
2018-06-30 794 33 5
2018-03-31 716 28 6
2017-12-31 632 38 6
2017-09-30 504 34 -11
2017-06-30 532 45 -3
2017-03-31 567 72 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Pan-United is high growth as no earnings estimate data is available.
  • Unable to determine if Pan-United 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:P52 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Pan-United Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:P52 Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SGX:P52 Past Financials Data
Date (Data in SGD Millions) EPS *
2019-12-31 0.03
2019-09-30 0.02
2019-06-30 0.02
2019-03-31 0.01
2018-12-31 0.01
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.01
2017-12-31 0.01
2017-09-30 -0.02
2017-06-30 0.00
2017-03-31 0.00

*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 Pan-United will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Check out Pan-United's track record over time to understand how much the company has returned to shareholders and its earnings growth rate in the past.
  2. Pan-United'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. Pan-United'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 Pan-United'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.
Pan-United 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 Pan-United 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 Pan-United'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.
  • Pan-United's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Pan-United's 1-year earnings growth exceeds its 5-year average (237.8% vs -24.6%)
  • Pan-United's earnings growth has exceeded the SG Trade Distributors industry average in the past year (237.8% vs -12.9%).
Earnings and Revenue History
Pan-United'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 Pan-United Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:P52 Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 771.72 20.51 42.15
2019-09-30 813.14 17.12 53.48
2019-06-30 840.00 14.64 52.13
2019-03-31 847.57 8.48 50.78
2018-12-31 865.83 6.07 49.80
2018-09-30 867.59 7.42 51.90
2018-06-30 793.79 4.94 51.40
2018-03-31 715.97 6.47 48.76
2017-12-31 632.08 5.79 47.99
2017-09-30 503.90 -10.56 46.79
2017-06-30 532.12 -2.78 48.29
2017-03-31 567.13 2.15 51.26
2016-12-31 615.93 6.65 52.27
2016-09-30 711.80 25.95 51.18
2016-06-30 747.58 23.17 49.68
2016-03-31 779.89 22.98 49.92
2015-12-31 808.16 24.16 50.07
2015-09-30 828.94 21.46 52.75
2015-06-30 815.35 23.90 52.79
2015-03-31 795.71 27.69 51.57
2014-12-31 766.49 32.40 51.09
2014-09-30 752.41 40.75 47.14
2014-06-30 740.85 44.61 46.32
2014-03-31 742.40 44.04 45.97
2013-12-31 731.45 44.60 45.03
2013-09-30 729.21 41.37 44.85
2013-06-30 730.85 40.64 45.88
2013-03-31 725.50 43.83 45.91

*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.
  • Pan-United has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Pan-United used its assets more efficiently than the SG Trade Distributors industry average last year based on Return on Assets.
  • Pan-United has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Pan-United'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.
Pan-United has a total score of 4/6, 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 Pan-United'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 Pan-United's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pan-United is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Pan-United's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pan-United'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 covered by short term assets, assets are 2.3x 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 Pan-United Company Filings, last reported 1 month ago.

SGX:P52 Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 210.58 106.89 49.65
2019-09-30 205.73 120.16 57.19
2019-06-30 201.06 120.50 41.34
2019-03-31 201.00 154.60 60.20
2018-12-31 198.32 126.47 47.89
2018-09-30 195.82 122.49 37.34
2018-06-30 194.82 106.44 34.45
2018-03-31 197.93 98.72 35.15
2017-12-31 367.91 123.10 63.13
2017-09-30 358.74 225.12 40.33
2017-06-30 296.10 285.73 48.77
2017-03-31 306.00 286.02 77.12
2016-12-31 310.65 298.69 72.66
2016-09-30 298.66 300.20 45.11
2016-06-30 296.00 296.39 38.65
2016-03-31 311.15 293.22 36.69
2015-12-31 315.65 294.38 43.69
2015-09-30 312.40 297.83 37.43
2015-06-30 311.05 271.50 30.82
2015-03-31 323.41 274.25 48.20
2014-12-31 312.65 268.66 53.89
2014-09-30 306.67 270.93 68.36
2014-06-30 303.63 294.24 96.81
2014-03-31 309.84 247.63 59.00
2013-12-31 293.18 127.74 79.18
2013-09-30 278.29 135.46 63.73
2013-06-30 376.37 73.81 91.51
2013-03-31 375.45 72.48 98.71
  • Pan-United's level of debt (50.8%) 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 (85.9% vs 50.8% today).
  • Debt is well covered by operating cash flow (39.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.2x coverage).
X
Financial health checks
We assess Pan-United'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. Pan-United has a total score of 5/6, 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 Pan-United'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
5.5%
Current annual income from Pan-United dividends.
If you bought SGD2,000 of Pan-United shares you are expected to receive SGD110 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?
  • Pan-United's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.54%).
  • Pan-United's dividend is below the markets top 25% of dividend payers in Singapore (5.72%).
Upcoming dividend payment

Purchase Pan-United before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:P52 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 3.1%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 4.1%
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 5.7%

Industry and Market average data is calculated daily.

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

SGX:P52 Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
SGX:P52 Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2020-02-18 0.022 5.649
2019-11-12 0.010 2.765
2019-08-01 0.010 3.106
2019-04-04 0.008 2.665
2019-02-26 0.008 3.253
2018-11-08 0.000 0.000
2018-07-25 0.000 0.000
2018-03-28 0.013 3.743
2018-02-23 0.013 3.286
2017-03-31 0.038 6.664
2017-03-24 0.038 5.488
2017-02-09 0.038 5.745
2016-08-11 0.038 6.244
2016-02-25 0.043 7.011
2015-02-25 0.043 6.132
2014-08-13 0.043 4.732
2014-02-25 0.043 4.128
2013-08-14 0.040 4.314
2013-02-27 0.040 4.286
2012-08-06 0.015 2.072
2012-03-29 0.040 7.405
2012-02-27 0.040 7.749
2011-11-10 0.030 6.388
2011-08-11 0.030 6.869
2011-02-28 0.030 6.015
2010-11-09 0.030 5.706
2010-08-12 0.030 5.900
2010-03-31 0.030 6.226
2010-02-23 0.030 5.814
2009-03-24 0.028 5.361

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Pan-United's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x 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 Pan-United'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 Pan-United afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pan-United has a total score of 2/6, 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 Pan-United'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
May Ng
AGE 51
TENURE AS CEO 8.9 years
CEO Bio

Ms. Bee Bee Ng, also known as May, has been the Chief Executive Officer of Pan-United Corporation Limited since March 1, 2011. Ms. Ng served as an Executive Director of Pan-United Corporation Limited since January 31, 2004 until February 28, 2011. She serves as Chairman of the Board at Mercatus Co-operative Limited. She serves as Deputy Chairman of NTUC Choice Homes Co-operative Ltd. She serves as Director of NTUC Enterprise. She serves as a Director of several subsidiaries of Pan-United Corporation. She serves as a Director of Grocery Logistics of Singapore Pte Ltd. She has been Director of Pan-United Corporation Ltd since January 31, 2004. She served as a Director of NTUC Fairprice Co-operative Limited since 2001. She serves as a Vice President of the Cement Manufacturers Association of Singapore. Ms Ng was conferred the Meritorious Service award in 2014 by the NTUC for her continuous support, dedication and significant contribution to the Labour Movement. Ms. Ng holds a Bachelor of Arts (Honours) degree from the University of Western Ontario, Canada.

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

Average tenure and age of the Pan-United management team in years:

8.9
Average Tenure
54
Average Age
  • The average tenure for the Pan-United management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

May Ng

TITLE
CEO & Director
AGE
51
TENURE
8.9 yrs

Cheah Lan

TITLE
General Manager of Corporate Development
AGE
54
TENURE
13.9 yrs

Form Po Cho

TITLE
Company Secretary
TENURE
4.5 yrs

Edward Kor

TITLE
President of Changhu Xinghua Port co.
AGE
60

Kah Lok

TITLE
GM, Exec. Director of Pan-United Industries Pte Ltd.

Jimmy Lee

TITLE
Executive Director of Pan-United Shipping Pte Ltd
Board of Directors Tenure

Average tenure and age of the Pan-United board of directors in years:

15.5
Average Tenure
63.5
Average Age
  • The average tenure for the Pan-United board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Jit Koon Ch'ng

TITLE
Independent Chairman
AGE
85
TENURE
22.8 yrs

May Ng

TITLE
CEO & Director
AGE
51
TENURE
16.1 yrs

Patrick Ng

TITLE
Deputy Chairman
AGE
56
TENURE
8.9 yrs

Kah Lok

TITLE
GM, Exec. Director of Pan-United Industries Pte Ltd.

Siew Choon Tay

TITLE
Independent Non-Executive Director
AGE
71
TENURE
15 yrs

Cecil Vivian Richard Wong

TITLE
Independent Director
AGE
97
TENURE
27.3 yrs

Ee Beng Soh

TITLE
Independent Director
AGE
50
TENURE
1.2 yrs

Kah Loh

TITLE
Executive Director of Pan-United Industries Pte Ltd & United Cement Pte Ltd
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 Pan-United'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. Pan-United 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

The Pan-United (SGX:P52) Share Price Is Down 69% So Some Shareholders Are Wishing They Sold

When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. … So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. … We note that for Pan-United the TSR over the last 5 years was -17%, which is better than the share price return mentioned above.

Simply Wall St -

Are Pan-United Corporation Ltd’s (SGX:P52) High Returns Really That Great?

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 Pan-United: 0.085 = S$24m ÷ (S$443m - S$166m) (Based on the trailing twelve months to June 2019.) Therefore, Pan-United has an ROCE of 8.5%. … What Are Current Liabilities, And How Do They Affect Pan-United's ROCE? … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Despite Its High P/E Ratio, Is Pan-United Corporation Ltd (SGX:P52) Still Undervalued?

View our latest analysis for Pan-United How Do I Calculate A Price To Earnings Ratio? … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Pan-United: P/E of 27.57 = SGD0.34 ÷ SGD0.012 (Based on the year to March 2019.) Is A High Price-to-Earnings Ratio Good? … A higher P/E ratio means that investors are paying a higher price for each SGD1 of company earnings.

Simply Wall St -

How Much Of Pan-United Corporation Ltd (SGX:P52) Do Insiders Own?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' With a market capitalization of S$224m, Pan-United is a small cap stock, so it might not be well known by many institutional investors. … Our analysis of the ownership of the company, below, shows that institutional investors have not yet purchased much of the company. … See our latest analysis for Pan-United SGX:P52 Ownership Summary, June 26th 2019 What Does The Institutional Ownership Tell Us About Pan-United?

Simply Wall St -

How Pan-United Corporation Ltd (SGX:P52) Can Impact Your Portfolio Volatility

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Check out our latest analysis for Pan-United What we can learn from P52's beta value Given that it has a beta of 0.89, we can surmise that the Pan-United share price has not been strongly impacted by broader market volatility (over the last 5 years).

Simply Wall St -

Easy Come, Easy Go: How Pan-United (SGX:P52) Shareholders Got Unlucky And Saw 72% Of Their Cash Evaporate

One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … So for companies that pay a generous dividend, the TSR is often a lot higher than the share price return. … Before deciding if you like the current share price, check how Pan-United scores on these 3 valuation metrics.

Simply Wall St -

Is Pan-United Corporation Ltd (SGX:P52) Potentially Undervalued?

received a lot of attention from a substantial price increase on the SGX over the last few months. … Less-covered, small caps tend to present more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value.

Simply Wall St -

Here's What Pan-United Corporation Ltd's (SGX:P52) ROCE Can Tell Us

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 -

Did Pan-United Corporation Ltd (SGX:P52) Use Debt To Deliver Its ROE Of 3.3%?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … One way to conceptualize this, is that for each SGD1 of shareholders' equity it has, the company made SGD0.033 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Is Pan-United Corporation Ltd's (SGX:P52) High P/E Ratio A Problem For Investors?

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll look at Pan-United Corporation Ltd's (SGX:P52) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Company Info

Description

Pan-United Corporation Ltd, an investment holding company, engages in the concrete and logistics businesses. The company operates through three segments: Concrete and Cement, Trading and Shipping, and Others. It manufactures, trades in, and supplies cement, granite, and ready mixed concrete, as well as supplies refined petroleum products to the construction and marine industries in Singapore, Vietnam, Malaysia, and Indonesia. The company also engages in coal and general trading, as well as basic building materials manufacturing and trading activities; and bulk shipping and agency operations. In addition, it is involved in the production of asphalt; building and repairing roadways; and quarry operations, as well as the provision of software consultancy, information technology, and computer services. Pan-United Corporation Ltd was founded in 1958 and is headquartered in Singapore.

Details
Name: Pan-United Corporation Ltd
P52
Exchange: SGX
Founded: 1958
SGD284,070,371
701,408,325
Website: http://www.panunited.com.sg
Address: Pan-United Corporation Ltd
No. 16-01 Suntec Tower One,
7 Temasek Boulevard,
Singapore,
038987,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX P52 Ordinary Shares Singapore Exchange SG SGD 30. Dec 1993
Number of employees
Current staff
Staff numbers
0
Pan-United employees.
Industry
Trading Companies and Distributors
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/02/20 12:42
End of day share price update: 2020/02/20 00:00
Last estimates confirmation: 2019/02/26
Last earnings filing: 2020/02/18
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.