Sing Holdings Ltd. · SGX:5IC
Sing — Shareholder Meeting (April 2021)
38 slides from Sing's shareholder meeting presentation, Apr 26, 2021
Slide 1: Annual General Meeting, 26 April 2021
live webcast ANNUAL GENERAL MEETING Monday, 26 April 2021 3.00 PM Pride in Delivering Quality Developments
Slide 2: Disclaimer
Disclaimer This presentation may contain statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in such statements as a result of a number of risks, uncertainties and assumptions. Past performance is not necessarily
Slide 3: Agenda
Agenda • Financial Performance for FY2020 • Financial Position as at 31 December 2020 • Dividend for FY2020 • Ten-Year Dividend Chart • Ten-Year Net Asset Value Chart • Three-Year Stock Chart • Update on Properties • Outlook and Prospects
Slide 4: Financial Performance
Financial Performance ($’000) 2020 2019 % Change Revenue 173,102 316,357 (45%) Gross profit 49,854 99,514 (50%) Profit for the year 27,696 66,299 (58%) Profit attributable to shareholders 16,563 45,371 (63%) Earnings per share (in cents) 4.13 11.31 (63%) • Revenue decreased by 45% to $173.1 million
Slide 5: Financial Position
Financial Position ($’000) 2020 2019 % Change Cash and cash equivalents 34,512 54,196 (36%) Interest-bearing bank loans 123,605 84,500 46% Total equity 350,761 324,587 8% Equity attributable to shareholders 311,400 295,547 5% Net asset value per share (in cents) 77.66 73.70 5% • Cash position reduce
Slide 6: Dividend for FY2020
Dividend for FY2020 Final dividend 1.00 cent per share, one-tier tax exempt Type of dividend Cash Ex-dividend date Friday, 30 April 2021 Payment date Tuesday, 11 May 2021 In line with lower profit and considering the uncertainties arising from the pandemic, a lower dividend rate of 1.00 cent per sha
Slide 7: Ten-Year Dividend Chart
Ten-Year Dividend Chart 4.46% 2.0 4.5% 4.11% 4.04% 1.8 3.91% 4.0% 1.85 3.72% 1.6 3.5% 1.60 1.50 1.4 3.03% 3.0% 1.375 3.03% 3.08% 1.2 2.27% 1.25 1.20 2.5% (cents) 2.47% 1.0 1.00 1.00 1.00 1.00 2.0% 0.8 1.5% 0.6 1.0% 0.4 0.2 0.5% 0.0 0.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Dividend per
Slide 8: Ten-Year Net Asset Value Chart
Ten-Year Net Asset Value Chart ($’000) Net asset value attributable to shareholders 350,000 $311m 300,000 250,000 200,000 $166m 150,000 100,000 50,000 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Slide 9: Three-Year Stock Chart
Three-Year Stock Chart 23 April 2021 Emergence of coronavirus Source: Reuters • Share price has recovered to pre-COVID levels.
Slide 10: Executive Condominium Development – Yishun Avenue 9
Update on Properties Executive Condominium Development – Yishun Avenue 9 Artist’s Impression • 99-year leasehold • 12 blocks of 14-storey buildings • GFA of 60,240 sq. m. • More than 600 apartment units • Views to Khatib Bongsu Nature Park • 100% interest
Slide 11: Update on Properties: Project Information
Update on Properties Project information: • Tender price $373.5 million ($576 psf ppr) • Construction commencement 2H2021 • Sales launch 1H2022 • Revenue recognition method Completion of construction
Slide 12: Residential Development – Parc Botannia
Update on Properties Residential Development – Parc Botannia • Located at Fernvale Street, next to the Thanggam LRT station • 99-year leasehold condominium • GFA of 51,588 sq. m. • 4 blocks of 22-storey buildings • 735 apartment units • 70% interest Artist’s Impression
Slide 13: Update on Properties: Sales Update
Update on Properties Sales update: • Percentage sold 100% of units • Sales value $730.8 million • Revenue recognised 78% of total sales value as at FY2020
Slide 14: Impact of COVID-19 Pandemic on Construction
Update on Properties Impact of COVID-19 pandemic: • Construction progress has been adversely impacted by measures such as suspension of construction activities during circuit breaker period, delay in resumption of construction work, safe management measures onsite and prevailing manpower crunch face
Slide 15: Measures Taken in Light of COVID-19
Update on Properties Measures taken in light of COVID-19 pandemic: • Deploying additional resources where available • Carrying out works concurrently • Working overtime including on Sundays • Exploring all possible avenues to procure desired manpower strength • Submitting applications repeatedly for
Slide 16: Hospitality Asset – Travelodge Docklands
Update on Properties Hospitality Asset – Travelodge Docklands • Located in Docklands, Melbourne • Walking distance to Southern Cross Railway Station, Marvel Stadium and office buildings • Freehold limited service hotel • 14-storey building with 291 rooms • Operated by TFE Hotels group • 100% interes
Slide 17: Hotel Performance in FY2020
Update on Properties Hotel performance in FY2020: • Average occupancy rates dropped to single digits from May to December 2020 • Revenue contribution from the hotel fell drastically to $752,000 (FY2019: $6.1 million) • Incurred loss of $8.6 million for the year (FY2019: loss of $2.6 million) after r
Slide 18: Impact of COVID-19 on the Hotel
Update on Properties Impact of COVID-19 pandemic: • Financial performance and cash flow for 2020 were materially affected by measures such as border closures, travel restrictions and lockdowns in Australia. • Since the last lockdown in Victoria ended in February 2021 and with easing of measures, ave
Slide 19: Hotel Measures Taken in Light of COVID-19
Update on Properties Measures taken in light of COVID-19 pandemic: • Cost containment measures put in place • Hotel operator continues to devise new strategies to promote Travelodge brand and our hotel • Proactive engagements with corporate clients and government agencies • Completed refurbishment o
Slide 20: Industrial Properties – BizTech Centre
Update on Properties Industrial Properties – BizTech Centre • Located along Aljunied Road • Walking distance to the Mattar MRT station • Freehold light industrial building • Owns strata space totaling 43,102 sq. ft. • Occupancy rate at 77% • 100% interest
Slide 21: Impact of COVID-19 on BizTech Centre
Update on Properties Impact of COVID-19 pandemic: • Drop in occupancy rate as some tenants, affected by the pandemic, did not renew their leases • Take-up rate for vacant units has been slow • Rent collections remain prompt with no default in payments
Slide 22: Outlook and Prospects
Outlook and Prospects • Uncertainties and risks persist in global economy • Risks of repeated wave of infections and emergence of new strains of coronavirus still prevail • COVID-19 situation is reasonably under control in Singapore and Australia • Expect both economies to recover gradually over the
Slide 23: Thank You
THANK YOU ya SING HOLDINGS LIMITED
Slide 24: Resolutions and Poll Results
RESOLUTIONS AND POLL RESULTS
Slide 25: Resolution 1: Adopt Directors' Statement and Audited Financial Statements
Resolution 1 To adopt the Directors’ Statement and Audited Financial Statements for the year ended 31 December 2020 together with the Auditor’s Report thereon.
Slide 26: Poll Result: Adoption of Financial Statements
Resolution 1 Adoption of Directors’ Statement and Audited Financial Statements No. of Votes Percentage For 175,344,874 100.00 Against 0 0.00 Ordinary Resolution 1 is carried.
Slide 27: Resolution 2: Approve Directors' Fees
Resolution 2 To approve the payment of $422,000 as Directors’ fees for the year ended 31 December 2020, as recommended by the Board of Directors.
Slide 28: Poll Result: Approval of Directors' Fees
Resolution 2 Approval of Directors’ fees No. of Votes Percentage For 175,344,874 100.00 Against 0 0.00 Ordinary Resolution 2 is carried.
Slide 29: Resolution 3: Declare Final Dividend
Resolution 3 To declare a first and final one-tier tax exempt dividend of 1.00 cent per ordinary share for the year ended 31 December 2020.
Slide 30: Poll Result: Declaration of Final Dividend
Resolution 3 Declaration of final dividend No. of Votes Percentage For 175,344,874 100.00 Against 0 0.00 Ordinary Resolution 3 is carried.
Slide 31: Resolution 4: Re-elect Mr Lee Sze Leong as Director
Resolution 4 To re-elect Mr Lee Sze Leong as Director.
Slide 32: Poll Result: Re-election of Mr Lee Sze Leong
Resolution 4 Re-election of Mr Lee Sze Leong as Director No. of Votes Percentage For 170,585,274 97.29 Against 4,759,600 2.71 Ordinary Resolution 4 is carried.
Slide 33: Retiring of Mr Ong Loke Min David as Director
Re-tiring of Mr Ong Loke Min David as Director.
Slide 34: Resolution 5: Re-appoint Ernst & Young LLP as Auditor
Resolution 5 To re-appoint Ernst & Young LLP as Auditor and to authorise the Directors to fix the Auditor’s remuneration.
Slide 35: Poll Result: Re-appointment of Auditor
Resolution 5 Re-appointment of Ernst & Young LLP as Auditor and to authorise Directors to fix the Auditor’s remuneration No. of Votes Percentage For 175,344,874 100.00 Against 0 0.00 Ordinary Resolution 5 is carried.
Slide 36: Resolution 6: General Mandate to Issue Shares
Resolution 6 To give a general mandate to the Directors, pursuant to Section 161 of the Companies Act and Rule 806 of the Listing Manual of the SGX, to issue new shares or convertible instruments.
Slide 37: Poll Result: General Mandate to Issue Shares
Resolution 6 General mandate to authorise the Directors to issue new shares or convertible instruments No. of Votes Percentage For 170,693,274 97.35 Against 4,651,600 2.65 Ordinary Resolution 6 is carried.
Slide 38: Annual General Meeting: Thank You and Key Dates
ANNUAL GENERAL MEETING Thank you for tuning in to our live webcast. Please take note of the following dates: Ex-dividend date – Friday, 30 April 2021 Dividend payment date – Tuesday, 11 May 2021 Pride in Delivering Quality Developments