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Tiong Woon Corporation Holding

SGX:BQM
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BQM
SGX
SGD116M
Market Cap
  1. Home
  2. SG
  3. Commercial Services
Company description

Tiong Woon Corporation Holding Ltd, an investment holding company, provides integrated services for the oil and gas, petrochemical, infrastructure, and construction sectors. The last earnings update was 28 days ago. More info.


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  • Tiong Woon Corporation Holding has significant price volatility in the past 3 months.
BQM Share Price and Events
7 Day Returns
14.4%
SGX:BQM
2.1%
SG Commercial Services
0.4%
SG Market
1 Year Returns
83.9%
SGX:BQM
21%
SG Commercial Services
2.3%
SG Market
BQM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tiong Woon Corporation Holding (BQM) 14.4% 43.1% 51.5% 83.9% 114.6% 5.1%
SG Commercial Services 2.1% 2.5% 20.1% 21% -12% -27.9%
SG Market 0.4% -0.9% 0% 2.3% 3.5% -4.6%
1 Year Return vs Industry and Market
  • BQM outperformed the Commercial Services industry which returned 21% over the past year.
  • BQM outperformed the Market in Singapore which returned 2.3% over the past year.
Price Volatility
BQM
Industry
5yr Volatility vs Market

BQM Value

 Is Tiong Woon Corporation Holding 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 Tiong Woon Corporation Holding 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 Tiong Woon Corporation Holding.

SGX:BQM 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 7.9%
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:BQM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 5.4%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.67
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.666 (1 + (1- 17%) (95.48%))
1.129
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.75% + (1.129 * 5.44%)
7.89%

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

The calculations below outline how an intrinsic value for Tiong Woon Corporation Holding 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:BQM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 7.89%)
2020 42.36 Est @ 39.02% 39.26
2021 54.16 Est @ 27.84% 46.52
2022 65.00 Est @ 20.01% 51.75
2023 74.45 Est @ 14.54% 54.94
2024 82.41 Est @ 10.7% 56.36
2025 89.02 Est @ 8.01% 56.43
2026 94.48 Est @ 6.14% 55.51
2027 99.03 Est @ 4.82% 53.93
2028 102.89 Est @ 3.9% 51.93
2029 106.24 Est @ 3.25% 49.69
Present value of next 10 years cash flows SGD516.00
SGX:BQM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= SGD106.24 × (1 + 1.75%) ÷ (7.89% – 1.75%)
SGD1,759.37
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD1,759.37 ÷ (1 + 7.89%)10
SGD822.94
SGX:BQM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD516.00 + SGD822.94
SGD1,338.94
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD1,338.94 / 232.24
SGD5.77
SGX:BQM Discount to Share Price
Calculation Result
Value per share (SGD) From above. SGD5.77
Current discount Discount to share price of SGD0.52
= -1 x (SGD0.52 - SGD5.77) / SGD5.77
91.1%

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

Current Discount
Amount off the current price Tiong Woon Corporation Holding is available for.
Intrinsic value
>50%
Share price is SGD0.52 vs Future cash flow value of SGD5.77
Current Discount Checks
For Tiong Woon Corporation Holding to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Tiong Woon Corporation Holding's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Tiong Woon Corporation Holding'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 Tiong Woon Corporation Holding's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tiong Woon Corporation Holding's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:BQM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in SGD SGD0.03
SGX:BQM Share Price ** SGX (2019-12-12) in SGD SGD0.52
Singapore Commercial Services Industry PE Ratio Median Figure of 13 Publicly-Listed Commercial Services Companies 17.04x
Singapore Market PE Ratio Median Figure of 381 Publicly-Listed Companies 13.15x

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

** Primary Listing of Tiong Woon Corporation Holding.

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

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

= 0.52 ÷ 0.03

17.55x

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

  • Tiong Woon Corporation Holding is overvalued based on earnings compared to the SG Commercial Services industry average.
  • Tiong Woon Corporation Holding is overvalued based on earnings compared to the Singapore market.
Price based on expected Growth
Does Tiong Woon Corporation Holding's expected growth come at a high price?
Raw Data
SGX:BQM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Commercial Services Industry PEG Ratio Median Figure of 85 Publicly-Listed Commercial Services Companies 1.44x
Singapore Market PEG Ratio Median Figure of 127 Publicly-Listed Companies 1.31x

*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 Tiong Woon Corporation Holding, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Tiong Woon Corporation Holding's assets?
Raw Data
SGX:BQM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in SGD SGD1.11
SGX:BQM Share Price * SGX (2019-12-12) in SGD SGD0.52
Singapore Commercial Services Industry PB Ratio Median Figure of 25 Publicly-Listed Commercial Services Companies 0.95x
Singapore Market PB Ratio Median Figure of 604 Publicly-Listed Companies 0.73x
SGX:BQM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.52 ÷ 1.11

0.46x

* Primary Listing of Tiong Woon Corporation Holding.

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

  • Tiong Woon Corporation Holding is good value based on assets compared to the SG Commercial Services industry average.
X
Value checks
We assess Tiong Woon Corporation Holding'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Tiong Woon Corporation Holding has a total score of 3/6, 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.

BQM Future Performance

 How is Tiong Woon Corporation Holding 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 Tiong Woon Corporation Holding 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
15.9%
Expected Commercial Services industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tiong Woon Corporation Holding expected to grow at an attractive rate?
  • Unable to compare Tiong Woon Corporation Holding's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Tiong Woon Corporation Holding's earnings growth to the Singapore market average as no estimate data is available.
  • Unable to compare Tiong Woon Corporation Holding's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:BQM Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 15.9%
Asia Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 11.4%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 6.6%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 5.5%

*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
SGX:BQM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 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:BQM Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-09-30 128 44 7
2019-06-30 117 33 3
2019-03-31 107 41 5
2018-12-31 103 37 4
2018-09-30 103 25 4
2018-06-30 98 24 1
2018-03-31 99 25 -11
2017-12-31 101 19 -14
2017-09-30 104 21 -13
2017-06-30 115 28 -10
2017-03-31 123 33 -5
2016-12-31 137 33 -3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Tiong Woon Corporation Holding is high growth as no earnings estimate data is available.
  • Unable to determine if Tiong Woon Corporation Holding 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:BQM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Tiong Woon Corporation Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:BQM Past Financials Data
Date (Data in SGD Millions) EPS *
2019-09-30 0.03
2019-06-30 0.01
2019-03-31 0.02
2018-12-31 0.02
2018-09-30 0.02
2018-06-30 0.01
2018-03-31 -0.05
2017-12-31 -0.06
2017-09-30 -0.05
2017-06-30 -0.04
2017-03-31 -0.02
2016-12-31 -0.01

*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 Tiong Woon Corporation Holding will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine whether Tiong Woon Corporation Holding is trading at Tiong Woon Corporation Holding'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. Tiong Woon Corporation Holding'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 Commercial Services companies here
  3. Tiong Woon Corporation Holding'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 Tiong Woon Corporation Holding'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.
Tiong Woon Corporation Holding 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.

BQM Past Performance

  How has Tiong Woon Corporation Holding 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 Tiong Woon Corporation Holding's growth in the last year to its industry (Commercial Services).
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.
  • Tiong Woon Corporation Holding's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Tiong Woon Corporation Holding's 1-year earnings growth exceeds its 5-year average (79% vs -29.3%)
  • Tiong Woon Corporation Holding's earnings growth has exceeded the SG Commercial Services industry average in the past year (79% vs -12.1%).
Earnings and Revenue History
Tiong Woon Corporation Holding'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 Tiong Woon Corporation Holding Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:BQM Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 127.72 6.82 1.18
2019-06-30 117.23 2.95 1.24
2019-03-31 106.80 5.29 1.22
2018-12-31 102.95 4.31 1.32
2018-09-30 102.65 3.81 1.33
2018-06-30 97.68 1.20 1.30
2018-03-31 99.38 -10.95 1.33
2017-12-31 100.83 -13.88 1.37
2017-09-30 103.89 -12.58 1.34
2017-06-30 114.79 -9.64 1.44
2017-03-31 122.74 -5.37 1.53
2016-12-31 136.57 -2.67 1.62
2016-09-30 140.73 -4.55 1.74
2016-06-30 139.44 -9.67 1.76
2016-03-31 141.26 -1.43 1.78
2015-12-31 137.64 1.05 1.70
2015-09-30 141.93 4.88 1.69
2015-06-30 145.67 11.96 1.65
2015-03-31 150.43 14.35 1.64
2014-12-31 152.82 15.94 1.65
2014-09-30 157.51 17.81 1.73
2014-06-30 165.28 18.92 1.64
2014-03-31 182.17 18.94 1.60
2013-12-31 190.61 19.25 1.56
2013-09-30 201.71 19.30 1.42
2013-06-30 200.53 19.64 1.41
2013-03-31 182.50 12.39 1.29
2012-12-31 172.30 7.84 1.19

*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.
  • Tiong Woon Corporation Holding has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tiong Woon Corporation Holding used its assets less efficiently than the SG Commercial Services industry average last year based on Return on Assets.
  • Tiong Woon Corporation Holding has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Tiong Woon Corporation Holding'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 Commercial Services 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.
Tiong Woon Corporation Holding has a total score of 3/6, 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.

BQM Health

 How is Tiong Woon Corporation Holding'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 Tiong Woon Corporation Holding's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tiong Woon Corporation Holding is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tiong Woon Corporation Holding's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Tiong Woon Corporation Holding'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 1.3x 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 Tiong Woon Corporation Holding Company Filings, last reported 2 months ago.

SGX:BQM Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 257.37 63.26 22.02
2019-06-30 252.46 71.95 15.20
2019-03-31 252.98 68.84 16.50
2018-12-31 251.47 68.86 13.50
2018-09-30 250.74 79.82 9.57
2018-06-30 249.73 70.64 9.31
2018-03-31 248.49 71.72 8.15
2017-12-31 247.21 73.56 9.73
2017-09-30 246.55 76.43 10.39
2017-06-30 247.59 73.75 11.34
2017-03-31 257.50 79.43 14.15
2016-12-31 260.89 74.73 19.41
2016-09-30 259.52 75.16 18.94
2016-06-30 254.86 76.18 15.22
2016-03-31 261.78 77.42 13.74
2015-12-31 260.48 146.05 13.37
2015-09-30 262.38 142.30 15.86
2015-06-30 268.79 59.26 21.67
2015-03-31 267.99 127.48 17.03
2014-12-31 265.17 126.54 19.90
2014-09-30 263.27 99.73 23.43
2014-06-30 258.99 39.05 21.28
2014-03-31 253.61 92.90 20.80
2013-12-31 250.40 98.46 18.10
2013-09-30 240.80 107.38 18.41
2013-06-30 240.61 56.12 29.14
2013-03-31 235.05 89.74 23.42
2012-12-31 231.36 82.85 23.24
  • Tiong Woon Corporation Holding's level of debt (24.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (14% vs 24.6% today).
  • Debt is well covered by operating cash flow (69.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.6x coverage).
X
Financial health checks
We assess Tiong Woon Corporation Holding'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. Tiong Woon Corporation Holding has a total score of 4/6, 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.

BQM Dividends

 What is Tiong Woon Corporation Holding'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
0.39%
Current annual income from Tiong Woon Corporation Holding dividends.
If you bought SGD2,000 of Tiong Woon Corporation Holding shares you are expected to receive SGD8 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?
  • Tiong Woon Corporation Holding's pays a lower dividend yield than the bottom 25% of dividend payers in Singapore (2.54%).
  • Tiong Woon Corporation Holding's dividend is below the markets top 25% of dividend payers in Singapore (5.47%).
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:BQM 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 Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 2.5%
Singapore Market Average Dividend Yield Market Cap Weighted Average of 312 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 5.5%

Industry and Market average data is calculated daily.

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

SGX:BQM Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-10-09 0.002 0.505
2018-05-11 0.000 0.000
2018-02-08 0.000 0.000
2017-11-13 0.000 0.000
2017-10-09 0.000 0.000
2017-08-24 0.000 0.000
2016-10-10 0.002 0.796
2016-08-23 0.002 0.830
2015-10-09 0.008 3.042
2014-10-10 0.008 1.926
2013-10-10 0.008 1.208
2012-10-01 0.008 1.185
2012-08-23 0.008 1.575
2011-08-24 0.008 1.669
2010-10-08 0.008 1.110
2010-08-25 0.008 0.920
2009-08-27 0.008 0.736

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

  • Tiong Woon Corporation Holding is not paying a notable dividend for Singapore, therefore no need to check if the payments are stable.
  • Tiong Woon Corporation Holding is not paying a notable dividend for Singapore, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Tiong Woon Corporation Holding's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Tiong Woon Corporation Holding's dividends as it is not paying a notable one for Singapore.
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 Tiong Woon Corporation Holding'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 Tiong Woon Corporation Holding afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tiong Woon Corporation Holding has a total score of 0/6, see the detailed checks below.


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

BQM Management

 What is the CEO of Tiong Woon Corporation Holding'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
Kah Hong Ang
CEO Bio

Mr. Kah Hong Ang serves as the Executive Chairman of the Board and Managing Director of Tiong Woon Corpholding Ltd. Mr. Ang has more than 20 years of experience in the management of heavy lift and heavy haulage operations. He is mainly responsible for envisioning the Group as a regional integrated heavy lift, heavy haulage and marine transportation service provider. His leadership has proven to be instrumental and invaluable to the growth development of the Group's businesses in the recent years. Mr. Ang's key responsibilities include identifying, formulating, developing and implementing corporate objectives and business strategies for the Group. In addition, he is intensively involved in the corporate development activities of the Group. He has been an Executive Director of Tiong Woon Corporation Holding Limited. since August 21, 1977. Mr. Ang has been a Director of the Tiong Woon Crane and Transport Pte Ltd. a subsidiary of Tiong Woon Corpholding Ltd. since its inception in 1980.

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

Average tenure and age of the Tiong Woon Corporation Holding management team in years:

3.5
Average Tenure
43
Average Age
  • The tenure for the Tiong Woon Corporation Holding management team is about average.
Management Team

Kah Hong Ang

TITLE
Executive Chairman & MD

Soh Hoon Lim

TITLE
Group Chief Financial Officer
AGE
50
TENURE
3.7 yrs

Yew Boon Teo

TITLE
Group Chief Operating Officer
TENURE
0.6 yrs

Yvonne Ang

TITLE
Group Human Resource & Administration Manager
AGE
43
TENURE
3.4 yrs

Kha King Ang

TITLE
Executive Director

Michael Ang

TITLE
Deputy CEO & Executive Director
AGE
41
TENURE
0.6 yrs

Joanna Lim

TITLE
Company Secretary

Wei Hsiung Lee

TITLE
Company Secretary
TENURE
10 yrs

Chang Quek

TITLE
Managing Director of Tower Crane Services Pte Ltd
AGE
55
TENURE
4.7 yrs

Jane Ang

TITLE
Executive Officer
AGE
42
Board of Directors Tenure

Average tenure and age of the Tiong Woon Corporation Holding board of directors in years:

8.6
Average Tenure
65
Average Age
  • The tenure for the Tiong Woon Corporation Holding board of directors is about average.
Board of Directors

Kah Hong Ang

TITLE
Executive Chairman & MD

Kha King Ang

TITLE
Executive Director
TENURE
22.3 yrs

Michael Ang

TITLE
Deputy CEO & Executive Director
AGE
41
TENURE
6.8 yrs

King Kheng Wong

TITLE
Lead Independent Director
AGE
65
TENURE
6.3 yrs

Carrie Cheong Luk

TITLE
Independent Director
AGE
65
TENURE
10.4 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 Tiong Woon Corporation Holding'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. Tiong Woon Corporation Holding 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.

BQM News

Simply Wall St News

Do Insiders Own Lots Of Shares In Tiong Woon Corporation Holding Ltd (SGX:BQM)?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' Tiong Woon Holding is a smaller company with a market capitalization of S$84m, so it may still be flying under the radar of many institutional investors. … See our latest analysis for Tiong Woon Holding SGX:BQM Ownership Summary, August 20th 2019 What Does The Institutional Ownership Tell Us About Tiong Woon Holding? … General Public Ownership The general public -- mostly retail investors -- own 53% of Tiong Woon Holding.

Simply Wall St -

Those Who Purchased Tiong Woon Holding (SGX:BQM) Shares Five Years Ago Have A 52% Loss To Show For It

While not a mind-blowing move, it is good to see that the Tiong Woon Corporation Holding Ltd (SGX:BQM) share price has gained 21% in the last three months. … Over the last 5 years, Tiong Woon Holding generated a TSR of -50%, which is, of course, better than the share price return. … A Different Perspective It's good to see that Tiong Woon Holding has rewarded shareholders with a total shareholder return of 11% in the last twelve months.

Simply Wall St -

Is Tiong Woon Corporation Holding Ltd (SGX:BQM) Struggling With Its 2.1% Return On Capital Employed?

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 Tiong Woon Holding: 0.021 = S$7.9m ÷ (S$434m - S$64m) (Based on the trailing twelve months to March 2019.) So, Tiong Woon Holding has an ROCE of 2.1%. … How Tiong Woon Holding's Current Liabilities Impact Its ROCE Current liabilities are short term bills and invoices that need to be paid in 12 months or less. … 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.

Simply Wall St -

How Much Of Tiong Woon Corporation Holding Ltd (SGX:BQM) Do Insiders Own?

View our latest analysis for Tiong Woon Holding SGX:BQM Ownership Summary, May 16th 2019 What Does The Institutional Ownership Tell Us About Tiong Woon Holding? … Insider Ownership Of Tiong Woon Holding The definition of company insiders can be subjective, and does vary between jurisdictions. … Our most recent data indicates that insiders own some shares in Tiong Woon Corporation Holding Ltd.

Simply Wall St -

How Financially Strong Is Tiong Woon Corporation Holding Ltd (SGX:BQM)?

While small-cap stocks, such as Tiong Woon Corporation Holding Ltd (SGX:BQM) with its market cap of S$64m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Understanding the company's financial health becomes. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

How Does Investing In Tiong Woon Corporation Holding Ltd (SGX:BQM) Impact The Volatility Of Your Portfolio?

Volatility is considered to be a measure of risk in modern finance theory. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … Any stock with a beta of greater than one is considered more volatile than the market, while those with a beta below one are either less volatile or poorly correlated with the market.

Simply Wall St -

Imagine Owning Tiong Woon Holding While The Price Tanked 53%

To wit, the Tiong Woon Corporation Holding Ltd (SGX:BQM) share price managed to fall 53% over five long years. … See our latest analysis for Tiong Woon Holding. … During five years of share price growth, Tiong Woon Holding moved from a loss to profitability.

Simply Wall St -

Shareholders Should Look Hard At Tiong Woon Corporation Holding Ltd’s (SGX:BQM) 2.1% Return On Capital

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 measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

How Financially Strong Is Tiong Woon Corporation Holding Ltd (SGX:BQM)?

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

How Does Investing In Tiong Woon Corporation Holding Ltd (SGX:BQM) Impact The Volatility Of Your Portfolio?

If you're interested in Tiong Woon Corporation Holding Ltd (SGX:BQM), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

BQM Company Info

Description

Tiong Woon Corporation Holding Ltd, an investment holding company, provides integrated services for the oil and gas, petrochemical, infrastructure, and construction sectors. The company operates through three segments: Heavy Lift and Haulage, Marine Transportation, and Trading. It offers heavy lift and haulage, marine transportation, and inland transportation services; equipment installation services, such as trays and structures; project engineering services for heavy lifting and haulage requirements; maintenance and repair services; and wall tie installation, foundation anchor, and jacking up services. The company also leases heavy haulage equipment consisting of prime movers, low beds, self-propelled modular trailers, tow trucks, and trailers for the transportation of heavy process equipment, such as modules and structures; supplies various models of tower cranes for sale and rent; and refurbishes, delivers, maintains, jack downs, dismantles, and erects tower cranes. In addition, it provides tug and barge services for sea transportation projects; and trades in crawler, mobile, and tower cranes. Further, the company sells and hires cranes and transport; manages marine and industrial plant projects; sells, services, and leases equipment for the petroleum, construction, shipbuilding, and related industries; and repairs and up-slips/launches of ships. Additionally, it is involved in the mechanical and infrastructure engineering, freight forwarding, and logistics related services. As of June 30, 2019, the company had a fleet of 532 cranes and 282 haulage assets; and 7 tugboats and 9 barges. It operates in Singapore, Brunei, the Middle East, India, Malaysia, Thailand, Indonesia, and China, as well as in Bangladesh, Myanmar, the Philippines, Sri Lanka, and Vietnam. The company was founded in 1978 and is headquartered in Singapore.

Details
Name: Tiong Woon Corporation Holding Ltd
BQM
Exchange: SGX
Founded: 1978
SGD116,117,626
232,235,253
Website: http://www.tiongwoon.com
Address: Tiong Woon Corporation Holding Ltd
No. 15 Pandan Crescent,
Singapore,
128470,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX BQM Ordinary Shares Singapore Exchange SG SGD 21. Sep 1999
Number of employees
Current staff
Staff numbers
0
Tiong Woon Corporation Holding employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/12 12:43
End of day share price update: 2019/12/12 00:00
Last earnings filing: 2019/11/14
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/06/30


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.