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Hotung Investment Holdings

SGX:BLS
Snowflake Description

Flawless balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BLS
SGX
SGD163M
Market Cap
  1. Home
  2. SG
  3. Diversified Financials
Company description

Hotung Investment Holdings Limited is a holding company. The last earnings update was 31 days ago. More info.


Add to Portfolio Compare Print
BLS Share Price and Events
7 Day Returns
1.2%
SGX:BLS
2.3%
SG Capital Markets
0.2%
SG Market
1 Year Returns
0%
SGX:BLS
22.7%
SG Capital Markets
2.4%
SG Market
BLS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Hotung Investment Holdings (BLS) 1.2% 1.8% 9.8% 0% 11.3% 12.8%
SG Capital Markets 2.3% 2.5% 6.6% 22.7% 21.1% 14.2%
SG Market 0.2% -1.3% -0.1% 2.4% 4.7% -4.7%
1 Year Return vs Industry and Market
  • BLS underperformed the Capital Markets industry which returned 22.7% over the past year.
  • BLS underperformed the Market in Singapore which returned 2.4% over the past year.
Price Volatility
BLS
Industry
5yr Volatility vs Market

Value

 Is Hotung Investment 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 Hotung Investment 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 Hotung Investment Holdings.

SGX:BLS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= NT$65.00 * 6%
NT$3.90
Book Value of Equity per Share Median Book Value from the past 5 years. NT$65.00
Discount Rate (Cost of Equity) See below 7.1%
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:BLS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year SG Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6.2%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 20%) (0.75%))
0.857
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.75% + (0.857 * 6.21%)
7.07%

Discounted Cash Flow Calculation for SGX:BLS using Excess Returns Model Model

The calculations below outline how an intrinsic value for Hotung Investment Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

SGX:BLS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6% – 7.07%) * NT$65.00)
NT$-0.69
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= NT$-0.69 / (7.07% - 1.75%)
NT$-13.04
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= NT$65.00 + NT$-13.04
NT$51.96
SGX:BLS Discount to Share Price
Calculation Result
Exchange Rate TWD/SGD
(Reporting currency to currency of SGX:BLS)
0.045
Value per Share
(SGD)
= Value per Share in TWD x Exchange Rate (TWD/SGD)
= NT$51.96 x 0.045
SGD2.33
Value per share (SGD) From above. SGD2.33
Current discount Discount to share price of SGD1.68
= -1 x (SGD1.68 - SGD2.33) / SGD2.33
27.9%

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

Current Discount
Amount off the current price Hotung Investment Holdings is available for.
Intrinsic value
28%
Share price is SGD1.68 vs Future cash flow value of SGD2.33
Current Discount Checks
For Hotung Investment Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Hotung Investment Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Hotung Investment Holdings'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 Hotung Investment Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Hotung Investment Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SGX:BLS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in TWD NT$3.91
SGX:BLS Share Price ** SGX (2019-12-13) in SGD SGD1.68
SGX:BLS Share Price converted to TWD reporting currency Exchange rate (SGD/ TWD) 22.286 NT$37.44
Singapore Capital Markets Industry PE Ratio Median Figure of 5 Publicly-Listed Capital Markets Companies 16.51x
Singapore Market PE Ratio Median Figure of 381 Publicly-Listed Companies 13.13x

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

** Primary Listing of Hotung Investment Holdings.

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

= SGX:BLS Share Price ÷ EPS (both in TWD)

= 37.44 ÷ 3.91

9.59x

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

  • Hotung Investment Holdings is good value based on earnings compared to the SG Capital Markets industry average.
  • Hotung Investment Holdings is good value based on earnings compared to the Singapore market.
Price based on expected Growth
Does Hotung Investment Holdings's expected growth come at a high price?
Raw Data
SGX:BLS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Asia Capital Markets Industry PEG Ratio Median Figure of 60 Publicly-Listed Capital Markets Companies 1.7x
Singapore Market PEG Ratio Median Figure of 127 Publicly-Listed Companies 1.34x

*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 Hotung Investment Holdings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Hotung Investment Holdings's assets?
Raw Data
SGX:BLS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in TWD NT$65.00
SGX:BLS Share Price * SGX (2019-12-13) in SGD SGD1.68
SGX:BLS Share Price converted to TWD reporting currency Exchange rate (SGD/ TWD) 22.286 NT$37.44
Singapore Capital Markets Industry PB Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 0.8x
Singapore Market PB Ratio Median Figure of 604 Publicly-Listed Companies 0.74x
SGX:BLS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:BLS Share Price ÷ Book Value per Share (both in TWD)

= 37.44 ÷ 65.00

0.58x

* Primary Listing of Hotung Investment Holdings.

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

  • Hotung Investment Holdings is good value based on assets compared to the SG Capital Markets industry average.
X
Value checks
We assess Hotung Investment 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 Capital Markets 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 Capital Markets industry average (and greater than 0)? (1 check)
  5. Hotung Investment 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 Hotung Investment 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 Hotung Investment 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
13.7%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Hotung Investment Holdings expected to grow at an attractive rate?
  • Unable to compare Hotung Investment Holdings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Hotung Investment Holdings's earnings growth to the Singapore market average as no estimate data is available.
  • Unable to compare Hotung Investment Holdings's revenue growth to the Singapore market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
SGX:BLS Future Growth Rates Data Sources
Data Point Source Value (per year)
Asia Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 13.7%
Asia Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 8.4%
Singapore Market Earnings Growth Rate Market Cap Weighted Average 6.6%
Singapore Market Revenue Growth Rate Market Cap Weighted Average 5.6%

*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:BLS 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 TWD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SGX:BLS Future Estimates Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
SGX:BLS Past Financials Data
Date (Data in TWD Millions) Revenue Cash Flow Net Income *
2019-09-30 563 145 376
2019-06-30 478 -17 301
2019-03-31 482 -63 310
2018-12-31 443 -32 271
2018-09-30 539 -218 352
2018-06-30 553 -111 360
2018-03-31 645 -127 368
2017-12-31 662 -134 345
2017-09-30 712 91 378
2017-06-30 819 -70 369
2017-03-31 710 -132 320
2016-12-31 733 -257 318

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Hotung Investment Holdings is high growth as no earnings estimate data is available.
  • Unable to determine if Hotung Investment 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:BLS 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 Hotung Investment Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:BLS Future Estimates Data
Date (Data in TWD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
SGX:BLS Past Financials Data
Date (Data in TWD Millions) EPS *
2019-09-30 3.91
2019-06-30 3.12
2019-03-31 3.22
2018-12-31 2.81
2018-09-30 3.65
2018-06-30 3.73
2018-03-31 3.80
2017-12-31 3.56
2017-09-30 3.88
2017-06-30 3.77
2017-03-31 3.25
2016-12-31 3.21

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

Next steps:

  1. Examine whether Hotung Investment Holdings is trading at Hotung Investment 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. Hotung Investment 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 Diversified Financials companies here
  3. Hotung Investment 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 Hotung Investment 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.
Hotung Investment 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 Hotung Investment 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 Hotung Investment Holdings's growth in the last year to its industry (Capital Markets).
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.
  • Hotung Investment Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • Hotung Investment Holdings's 1-year earnings growth exceeds its 5-year average (7% vs 2.4%)
  • Hotung Investment Holdings's earnings growth has exceeded the SG Capital Markets industry average in the past year (7% vs -9.4%).
Earnings and Revenue History
Hotung Investment 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 Hotung Investment Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SGX:BLS Past Revenue, Cash Flow and Net Income Data
Date (Data in TWD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 563.41 376.04 140.14
2019-06-30 478.12 300.66 135.73
2019-03-31 481.69 310.07 136.37
2018-12-31 443.42 270.81 135.78
2018-09-30 538.78 351.54 144.50
2018-06-30 552.60 359.90 141.04
2018-03-31 645.42 367.80 147.11
2017-12-31 662.38 345.39 144.69
2017-09-30 711.66 377.66 158.85
2017-06-30 819.48 368.64 166.50
2017-03-31 709.64 319.97 158.84
2016-12-31 732.90 317.88 167.31
2016-09-30 890.69 372.65 161.62
2016-06-30 704.41 315.24 149.01
2016-03-31 837.80 382.34 156.42
2015-12-31 891.66 419.47 171.71
2015-09-30 642.60 244.26 157.93
2015-06-30 688.07 293.20 177.63
2015-03-31 570.82 246.10 181.44
2014-12-31 534.13 262.14 177.07
2014-09-30 643.04 339.38 191.22
2014-06-30 691.55 338.75 190.17
2014-03-31 758.44 379.54 185.20
2013-12-31 714.69 330.49 192.80
2013-09-30 566.94 240.85 172.14
2013-06-30 816.19 340.14 179.89
2013-03-31 764.32 317.80 180.21
2012-12-31 805.75 328.97 183.86

*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.
  • Hotung Investment Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Hotung Investment Holdings used its assets more efficiently than the SG Capital Markets industry average last year based on Return on Assets.
  • Hotung Investment Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Hotung Investment 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 Capital Markets 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.
Hotung Investment Holdings 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 Hotung Investment 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 Hotung Investment Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Hotung Investment Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Hotung Investment Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Hotung Investment 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.
  • Low level of unsold assets.
  • Hotung Investment Holdings has no debt, it does not need to be covered by short term assets.
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 Hotung Investment Holdings Company Filings, last reported 2 months ago.

SGX:BLS Past Debt and Equity Data
Date (Data in TWD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 6,354.15 0.00 1,052.55
2019-06-30 6,180.75 0.00 994.36
2019-03-31 6,388.97 0.00 1,258.82
2018-12-31 6,241.91 0.00 1,220.73
2018-09-30 6,196.77 0.00 1,356.48
2018-06-30 6,095.94 0.00 1,377.31
2018-03-31 6,262.50 0.00 1,828.69
2017-12-31 6,226.65 0.00 1,670.74
2017-09-30 6,440.30 0.00 1,822.10
2017-06-30 6,526.32 0.00 1,725.51
2017-03-31 6,978.26 0.00 2,191.53
2016-12-31 7,298.10 0.00 2,126.12
2016-09-30 7,077.17 0.00 2,234.45
2016-06-30 7,270.16 0.00 1,863.21
2016-03-31 7,627.87 0.00 2,334.06
2015-12-31 7,827.35 0.00 1,813.26
2015-09-30 7,310.74 0.00 1,048.97
2015-06-30 6,843.41 0.00 895.75
2015-03-31 7,222.84 0.00 1,278.02
2014-12-31 7,139.36 0.00 1,203.55
2014-09-30 6,977.17 0.00 1,527.75
2014-06-30 6,812.07 0.00 1,390.81
2014-03-31 7,208.77 0.00 1,885.10
2013-12-31 6,996.90 0.00 1,976.65
2013-09-30 7,025.66 0.00 1,959.14
2013-06-30 6,795.50 0.00 2,097.01
2013-03-31 7,161.62 0.00 2,438.31
2012-12-31 7,087.99 0.00 2,198.31
  • Hotung Investment Holdings has no debt.
  • Hotung Investment Holdings has not taken on any debt in the past 5 years.
  • Hotung Investment Holdings has no debt, it does not need to be covered by operating cash flow.
  • Hotung Investment Holdings has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Hotung Investment 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. Hotung Investment Holdings has a total score of 6/6, 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 Hotung Investment 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
7.48%
Current annual income from Hotung Investment Holdings dividends.
If you bought SGD2,000 of Hotung Investment Holdings shares you are expected to receive SGD150 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?
  • Hotung Investment Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.56%).
  • Hotung Investment Holdings's dividend is above the markets top 25% of dividend payers in Singapore (5.46%).
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:BLS 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 Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.4%
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 2.6%
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:BLS Future Dividends Estimate Data
Date (Data in NT$) Dividend per Share (annual) Avg. No. Analysts
SGX:BLS Past Annualized Dividends Data
Date (Data in NT$) Dividend per share (annual) Avg. Yield (%)
2019-04-09 2.800 7.714
2019-02-26 2.800 7.342
2018-04-02 3.420 8.543
2018-02-22 3.420 7.772
2017-03-29 3.100 7.115
2017-02-17 3.100 9.001
2016-04-06 4.025 12.081
2016-02-29 4.025 11.554
2015-05-14 2.580 8.222
2014-05-27 3.100 8.723
2013-04-24 3.100 8.705
2012-04-04 2.580 7.427
2012-03-30 1.910 5.635
2012-02-17 2.580 7.800
2011-04-27 4.700 14.678
2010-03-31 2.430 8.910
2010-03-01 2.430 9.237
2009-11-06 0.000 0.000
2009-08-14 0.000 0.000
2009-04-01 0.000 0.000
2009-03-02 0.000 0.000
2009-01-02 0.000 0.000

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 increased over the past 10 years.
Current Payout to shareholders
What portion of Hotung Investment Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x 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 Hotung Investment 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 Hotung Investment Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Hotung Investment Holdings has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Hotung Investment 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
Jennifer Huang
CEO Bio

Ms. Tsui-Hui Huang, also known as Jennifer, has been the Chairman and Managing Director of Hotung Investment Holdings Limited since June 2010 and August 2006 respectively and serves as the President. She has also been the Chairman and President of Hotung International Co., Ltd. since April 2009 and June 2005 respectively. Previously, Ms. Huang served as the Joint Managing Director of Hotung Investment Holdings Limited since August 1, 2006. She served as the Chairwoman and President of Hotung Securities International Co., Ltd. In 1998, Ms. Huang established Hotung Securities International Co., Ltd. She started her career in mergers and acquisitions with Bankers Trust Company in 1988. Between 1998 and 2005, Ms. Huang was actively involved in the international securities industry while she was the Chairman of the International Business Committee of Taiwan Securities Association. During that period, Ms. Huang was appointed as the Board Director of Gretai Securities Market. Currently, she serves as the Vice Chairwoman of Corporate Finance department at Golden Securities International Co., Ltd. and Bankers Trust Co. Her other directorships in various companies include Tai Lung Corporation and OTC Securities Exchange. Ms. Huang is also the Chairman of Taiwan Venture Capital Association. She served as the Chairwoman of the International Business Committee of Taiwan Securities Association from 1999 to 2005. She was appointed as the Member of Cornell University President Council. Ms. Huang holds an M.B.A. from Cornell University of U.S.A. and B.A. in Business from National Taiwan University in Taiwan.

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

Jennifer Huang

TITLE
Chairman

Felicia Hsu

TITLE
CFO and Senior VP
TENURE
5.6 yrs

Vincent Jang

TITLE
Senior VP of Hotung International Co.

George Huang

TITLE
Assoc. VP of Hotung International Co Ltd and Head of Admin Dept - Hotung International Co Ltd

Steven Huang

TITLE
Senior VP of Hotung International Co Ltd & Head of Taiwan Investments - Department II

David Tso

TITLE
Senior Vice President of Hotung International Co.

Hsin-Chieh Chung

TITLE
Company Secretary
TENURE
3 yrs

Joseph Yu

TITLE
Head of Taiwan Investments
Board of Directors Tenure

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

6.4
Average Tenure
64.5
Average Age
  • The tenure for the Hotung Investment Holdings board of directors is about average.
Board of Directors

Jennifer Huang

TITLE
Chairman
TENURE
9.5 yrs

Cheng-Wang Huang

TITLE
Honorary Chairman
TENURE
2.6 yrs

Ng-Chee Tan

TITLE
Lead Independent Director
AGE
74
TENURE
9.1 yrs

Chang-Pang Chang

TITLE
Non Executive & Independent Director
TENURE
7.7 yrs

Andy Chen

TITLE
Non Executive Director
AGE
58
TENURE
22.4 yrs

Chun-Chen Tsou

TITLE
Non Independent Non-Executive Director
TENURE
22.4 yrs

Philip Pillai

TITLE
Independent Non-Executive Director
AGE
71
TENURE
1.7 yrs

Kazuyoshi Mizukoshi

TITLE
Non-Executive & Independent Director
AGE
57
TENURE
5.1 yrs

Kung-Wha Ding

TITLE
Independent Non Executive Director
TENURE
2.7 yrs

Shih-Ping Chen

TITLE
Non-Executive Director
TENURE
0.5 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 Hotung Investment 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. Hotung Investment 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

Something To Consider Before Buying Hotung Investment Holdings Limited (SGX:BLS) For The 8.1% Dividend

Is Hotung Investment Holdings Limited (SGX:BLS) a good dividend stock? … Hotung Investment Holdings has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … Hotung Investment Holdings's dividend payments have fluctuated, so it hasn't grown 1.4% every year, but the CAGR is a useful rule of thumb for approximating the historical growth.

Simply Wall St -

Do Institutions Own Shares In Hotung Investment Holdings Limited (SGX:BLS)?

Check out our latest analysis for Hotung Investment Holdings SGX:BLS Ownership Summary, July 30th 2019 What Does The Institutional Ownership Tell Us About Hotung Investment Holdings? … As you can see, institutional investors own 7.2% of Hotung Investment Holdings. … Insider Ownership Of Hotung Investment Holdings While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

A Spotlight On Hotung Investment Holdings Limited's (SGX:BLS) Fundamentals

Flawless balance sheet and good value BLS's strong financial health means that all of its upcoming liability payments are able to be met by its current cash and short-term investment holdings. … BLS's share price is trading at below its true value, meaning that the market sentiment for the stock is currently bearish. … SGX:BLS Intrinsic value, June 12th 2019 Next Steps: For Hotung Investment Holdings, there are three key aspects you should further research: Future Outlook: What are well-informed industry analysts predicting for BLS’s future growth?

Simply Wall St -

Investors Who Bought Hotung Investment Holdings (SGX:BLS) Shares Three Years Ago Are Now Up 25%

For example, the Hotung Investment Holdings Limited (SGX:BLS) share price is up 25% in the last three years, clearly besting than the market return of around 9.7% (not including dividends). … During the three years of share price growth, Hotung Investment Holdings actually saw its earnings per share (EPS) drop 9.9% per year. … In the case of Hotung Investment Holdings, it has a TSR of 47% for the last 3 years.

Simply Wall St -

Know This Before Buying Hotung Investment Holdings Limited (SGX:BLS) For Its Dividend

Dividend paying stocks like Hotung Investment Holdings Limited (SGX:BLS) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends. … With a goodly-sized dividend yield despite a relatively short payment history, investors might be wondering if Hotung Investment Holdings is a new dividend aristocrat in the making. … There are a few simple ways to reduce the risks of buying Hotung Investment Holdings for its dividend, and we'll go through these below.

Simply Wall St -

Can We See Significant Insider Ownership On The Hotung Investment Holdings Limited (SGX:BLS) Share Register?

The big shareholder groups in Hotung Investment Holdings Limited (SGX:BLS) have power over the company. … Hotung Investment Holdings is a smaller company with a market capitalization of S$161m, so it may still be flying under the radar of many institutional investors. … View our latest analysis for Hotung Investment Holdings

Simply Wall St -

Does Hotung Investment Holdings Limited's (SGX:BLS) -6.9% Earnings Drop Reflect A Longer Term Trend?

Assessing Hotung Investment Holdings Limited's (SGX:BLS) past track record of performance is an insightful exercise for investors. … Today I will assess BLS's recent performance announced on 30 September 2018 and evaluate these figures to its long-term trend and industry movements. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 4.1%, indicating the rate at which BLS is growing has slowed down

Simply Wall St -

How Does Hotung Investment Holdings Limited (SGX:BLS) Fare As A Dividend Stock?

Historically, Hotung Investment Holdings Limited (SGX:BLS) has paid a dividend to shareholders. … Does Hotung Investment Holdings tick all the boxes of a great dividend stock? … Check out our latest analysis for Hotung Investment Holdings

Simply Wall St -

A Look At Hotung Investment Holdings Limited (SGX:BLS) And The Financial Sector

operates in the capital markets industry, … Many banks and capital markets firms, particularly the large, complex institutions, have been simplifying their business and operating models over the last few years, both for economic reasons and to reduce organizational complexity … Financial services analysts are forecasting for the entire industry,

Simply Wall St -

Why Hotung Investment Holdings Limited's (SGX:BLS) Ownership Structure Is Important

Today, I will be analyzing Hotung Investment Holdings Limited’s (SGX:BLS) recent ownership structure, an important but not-so-popular subject among individual investors. … The implications of these institutions’ actions can either benefit or hinder individual investors, so it is important to understand the ownership composition of your stock investment. … View our latest analysis for Hotung Investment Holdings

Simply Wall St -

Company Info

Description

Hotung Investment Holdings Limited is a holding company.

Details
Name: Hotung Investment Holdings Limited
BLS
Exchange: SGX
Founded: 1997
SGD162,723,478
96,286,082
Website: http://www.hihl.com.sg
Address: Hotung Investment Holdings Limited
261 Sung Chiang Road,
9th Floor,
Taipei,
10483,
Taiwan
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX BLS Ordinary Shares Singapore Exchange SG SGD 18. Aug 1997
Number of employees
Current staff
Staff numbers
0
Hotung Investment Holdings employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/13 12:40
End of day share price update: 2019/12/13 00:00
Last estimates confirmation: 2018/02/22
Last earnings filing: 2019/11/12
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.