Sing Holdings Ltd. · SGX:5IC
Sing — Shareholder Meeting (April 2022)
37 slides from Sing's shareholder meeting presentation, Apr 27, 2022
Slide 1: Annual General Meeting
live webcast Annual General Meeting Wednesday, 27 April 2022 at 11.00 AM 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 FY2021 • Financial Position as at 31 December 2021 • Dividend for FY2021 • 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) 2021 2020 % Change Revenue 121,730 173,102 (30%) Gross profit 28,786 49,854 (42%) Profit for the year 15,405 27,696 (44%) Profit attributable to shareholders 9,834 16,563 (41%) Earnings per share (in cents) 2.45 4.13 (41%) • Revenue decreased by 30% to $121.7 million du
Slide 5: Financial Position
Financial Position ($’000) 2021 2020 % Change Cash and cash equivalents 16,756 34,512 (51%) Contract assets 291,730 207,522 41% Interest-bearing bank loans 439,984 123,605 256% Total equity 359,517 350,761 2% Equity attributable to shareholders 314,252 311,400 1% Net asset value per share (in cents)
Slide 6: Dividend for FY2021
Dividend for FY2021 Final dividend 1.00 cent per share, one-tier tax exempt Type of dividend Cash Ex-dividend date Thursday, 5 May 2022 Payment date Wednesday, 18 May 2022 Despite the lower profit reported for FY2021, the Board is recommending the same dividend rate of 1.00 cent per share. This tran
Slide 7: Ten-Year Dividend Chart
Ten-Year Dividend Chart 4.46% 2.0 4.5% 4.11% 1.8 3.91% 4.04% 4.0% 1.85 3.72% 1.6 3.5% 1.60 1.50 1.4 3.03% 3.0% 1.375 3.08% 2.67% 1.2 1.25 2.5% 1.20 (cents) 2.27% 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% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 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 $314m 300,000 250,000 $203m 200,000 150,000 100,000 50,000 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 9: Three-Year Stock Chart
Three-Year Stock Chart 22 April 2022 Emergence of coronavirus Source: Reuters • Share price has remained fairly stable over the past one year.
Slide 10: Update on Properties: North Gaia
Update on Properties Executive Condominium Development – North Gaia Artist’s Impression
Slide 11: Update on Properties: North Gaia project information
Update on Properties Project information: • Located at Yishun Close, opposite Khatib Bongsu Nature Park • 99-year leasehold executive condominium • GFA of 60,240 sq. m. • 11 blocks of 14-storey buildings with 616 apartment units • Construction commenced in 3Q2021 • Tender price at $373.5 million ($5
Slide 12: North Gaia sales update
Update on Properties Sales update as of 24 April 2022: • Options issued 164 units (26.6%) • Sales value $232.528 million • Average sales price $1,301.93 psf • Deferred payment scheme 62% of sold units • Saleable area of 61,478 sq. m. • Revenue to be recognised upon completion of sales contracts
Slide 13: 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
Slide 14: Parc Botannia sales update
Update on Properties Sales update: • Percentage sold 100% of units • Sales value $730.8 million • Revenue recognised 94% of total sales value as at FY2021
Slide 15: Impact of COVID-19 pandemic
Update on Properties Impact of COVID-19 pandemic: • Construction progress has been severely impacted by the COVID-19 measures, disruptions to the supply of construction materials from overseas (especially those from China and Malaysia), collapse of our subcontractor for cabinetry works, shortage of
Slide 16: Hospitality Asset – Travelodge Docklands
Update on Properties Hospitality Asset – Travelodge Docklands • Located in Docklands, Melbourne • Walking distance to Southern Cross Railway Station and Marvel Stadium • Close proximity to tourist attractions and commercial buildings • Freehold limited service hotel • 14-storey building with 291 roo
Slide 17: Hotel performance in FY2021
Update on Properties Hotel performance in FY2021: • Occupancy rate for the whole of 2021 dropped to 17% • Revenue contribution from the hotel dropped to $261,000 (FY2020: $752,000) • Reported loss of $3.5 million for the year (FY2020: loss of $8.6 million) after recording a decline in fair value of
Slide 18: Impact of COVID-19 pandemic on hotel
Update on Properties Impact of COVID-19 pandemic: • Financial performance and cash flow for 2021 were adversely impacted by the repeated lockdowns in the City of Melbourne during the year. • With the easing of measures and the return of events and activities, occupancy rates have begun to improve, e
Slide 19: 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 • Sold seven strata units in 2021 • Owns strata space totaling 3,308 sq. m. • Occupancy rate at 89% • 100% interest
Slide 20: Outlook and Prospects
Outlook and Prospects • Outlook of Singapore economy for 2022 is less upbeat • Forecast GDP growth for 2022 is between 3% and 5% (2021: 7.6% growth) • Uncertainties and risks persist in global economy • Both Singapore and Australian economies are on the road to recovery • Singapore residential home
Slide 21: Thank You
yi SING HOLDINGS LIMITED
Slide 22: Resolutions and Poll Results
RESOLUTIONS AND POLL RESULTS
Slide 23: Adopt Directors' Statement and Audited Financial Statements
Resolution 1 To adopt the Directors’ Statement and Audited Financial Statements for the year ended 31 December 2021 together with the Auditor’s Report thereon.
Slide 24: Adoption of Directors' Statement and Audited Financial Statements
Resolution 1 Adoption of Directors’ Statement and Audited Financial Statements No. of Votes Percentage For 174,718,802 100.00 Against 0 0.00 Ordinary Resolution 1 is carried.
Slide 25: Approval of Directors' fees
Resolution 2 To approve the payment of $422,000 as Directors’ fees for the year ended 31 December 2021, as recommended by the Board of Directors.
Slide 26: Approval of Directors' fees
Resolution 2 Approval of Directors’ fees No. of Votes Percentage For 174,718,802 100.00 Against 0 0.00 Ordinary Resolution 2 is carried.
Slide 27: 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 2021.
Slide 28: Declaration of final dividend
Resolution 3 Declaration of final dividend No. of Votes Percentage For 174,718,802 100.00 Against 0 0.00 Ordinary Resolution 3 is carried.
Slide 29: Re-elect Mr Tan Tong Guan as Director
Resolution 4 To re-elect Mr Tan Tong Guan as Director.
Slide 30: Re-election of Mr Tan Tong Guan as Director
Resolution 4 Re-election of Mr Tan Tong Guan as Director No. of Votes Percentage For 170,920,274 97.83 Against 3,798,528 2.17 Ordinary Resolution 4 is carried.
Slide 31: Re-elect Ms Chung Foh Ching as Director
Resolution 5 To re-elect Ms Chung Foh Ching as Director.
Slide 32: Re-election of Ms Chung Foh Ching as Director
Resolution 5 Re-election of Ms Chung Foh Ching as Director No. of Votes Percentage For 171,065,774 97.91 Against 3,653,028 2.09 Ordinary Resolution 5 is carried.
Slide 33: Re-appoint Ernst & Young LLP as Auditor
Resolution 6 To re-appoint Ernst & Young LLP as Auditor and to authorise the Directors to fix the Auditor’s remuneration.
Slide 34: Re-appointment of Ernst & Young LLP as Auditor
Resolution 6 Re-appointment of Ernst & Young LLP as Auditor and to authorise Directors to fix the Auditor’s remuneration No. of Votes Percentage For 174,718,802 100.00 Against 0 0.00 Ordinary Resolution 6 is carried.
Slide 35: General mandate to issue new shares
Resolution 7 To give a general mandate to the Directors, pursuant to Section 161 of the Companies Act 1967 and Rule 806 of the Listing Manual of the SGX, to issue new shares or convertible instruments.
Slide 36: General mandate to issue new shares or convertible instruments
Resolution 7 General mandate to authorise the Directors to issue new shares or convertible instruments No. of Votes Percentage For 170,982,174 97.86 Against 3,736,628 2.14 Ordinary Resolution 7 is carried.
Slide 37: Thank you for tuning in to our live webcast
ANNUAL GENERAL MEETING Thank you for tuning in to our live webcast. Please take note of the following dates: Ex-dividend date – Thursday, 5 May 2022 Dividend payment date – Wednesday, 18 May 2022