Sing Holdings Ltd. · SGX:5IC
Sing — Shareholder Meeting (May 2020)
37 slides from Sing's shareholder meeting presentation, May 20, 2020
Slide 1: Sing Holdings Limited Annual General Meeting
Ya SING HOLDINGS LIMITED lie werent ANNUAL GENERAL MEETING wednesday 20 May 2020 Sgt 3.00PM te t E OPME PRIDE IN DELIVERING QUALITY DEV
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 FY2019 • Financial Position as at 31 December 2019 • Dividend for FY2019 • Ten-Year Dividend Chart • Ten-Year Net Asset Value Chart • One-Year Stock Chart • Update on Properties • Outlook and Prospects
Slide 4: Financial Performance
Financial Performance ($’000) 2019 2018 % Change Revenue 316,357 76,220 315% Gross profit 99,514 27,897 257% Profit for the year 66,299 13,805 380% Profit attributable to shareholders 45,371 11,154 307% Earnings per share (in cents) 11.31 2.78 307% • Revenue increased by $240 million due to recognit
Slide 5: Financial Position
Financial Position ($’000) 2019 2018 % Change Cash and cash equivalents 54,196 87,896 (38%) Interest-bearing bank loans 84,500 200,839 (58%) Total equity 324,587 264,290 23% Equity attributable to shareholders 295,547 256,542 15% Net asset value per share (in cents) 73.70 63.98 15% • Cash position d
Slide 6: Dividend for FY2019
Dividend for FY2019 Final dividend 1.85 cent per share, one-tier tax exempt Type of dividend Cash Ex-dividend date Tuesday, 26 May 2020 Payment date Wednesday, 3 June 2020 • Substantial increase of 54% in proposed dividend
Slide 7: Ten-Year Dividend Chart
Ten-Year Dividend Chart 2.0 4.46% 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% 3.03% 3.0% 3.08% 1.375 1.2 2.27% 1.25 1.20 2.5% (cents) 1.0 2.31% 1.00 1.00 1.00 2.0% 0.8 0.75 1.5% 0.6 1.0% 0.4 0.2 0.5% 0.0 0.0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Dividend per
Slide 8: Ten-Year Net Asset Value Chart
Ten-Year Net Asset Value Chart ($’000) $296m 300,000 250,000 200,000 $147m 150,000 100,000 50,000 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Net asset value attributable to shareholders
Slide 9: One-Year Stock Chart
One-Year Stock Chart 19 May 2020 $0.40 on 4 March 2020 Source: Reuters • As at 19 May 2020, share price dropped 12.5% since COVID-19 outbreak.
Slide 10: 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 11: Parc Botannia Sales Update
Update on Properties Sales update: • Options issued 100% of units • Sales value $730.6 million • Options exercised 95% of units • Revenue recognised 54% of total sales value as at FY2019 • Stage of construction 75% completed as at 31 March 2020
Slide 12: Impact of COVID-19 pandemic on development
Update on Properties Impact of COVID-19 pandemic: • Supply chain and labour disrupted due to measures implemented by various countries • Temporary suspension of construction activities during the circuit breaker period and uncertainty over resumption date will delay construction progress • Stipulate
Slide 13: 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 14: Hotel performance in FY2019
Update on Properties Hotel performance in FY2019: • Average occupancy 91% • EBITA AUD 6.4 million • Yield over cost 6.0% per annum
Slide 15: Impact of COVID-19 pandemic on hotel
Update on Properties Impact of COVID-19 pandemic: • Demand for travel and accommodation services have been seriously impacted by measures such as border closures, travel restrictions and shut down of non-essential services • Hotel secured 1-month quarantine business till end April 2020 for returning
Slide 16: Measures taken in light of COVID-19 pandemic
Update on Properties Measures taken in light of COVID-19 pandemic: • Cost containment measures such as temporary closure of certain floors, reducing energy costs and manpower • Tapping on government relief measures such as tax payment deferral, tax reduction and wage support scheme • Hotel operator
Slide 17: 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 43 strata units totaling 44,275 sq. ft. • Occupancy rate at 86% • Carrying value at $535 p.s.f. • 100% interest
Slide 18: Impact of COVID-19 pandemic on BizTech Centre
Update on Properties Impact of COVID-19 pandemic: • Occupancy remains unchanged at a healthy level • Pass-through 30% property tax rebate given by the Singapore Government to tenants • Rent for April 2020 has been fully paid • For May 2020, only 2 units remain outstanding
Slide 19: Outlook and Prospects
Outlook and Prospects • Development project fully sold and construction was progressing well before suspension of work • Company in healthy financial position, with low gearing and accessibility to credit facilities • No new commitment at high cost, well-positioned to take on new opportunities • Con
Slide 20: Outlook and Prospects
Outlook and Prospects • Global economic outlook for 2020 adversely impacted by COVID-19 measures • Revenue and profit recognition for development business will be delayed • Hotel business will face headwinds in the near term • Minimal impact expected on rental income from industrial properties • Imp
Slide 21: Thank You
THANK YOU 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 2019 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 174,304,274 100.00 Against 0 0.00 Ordinary Resolution 1 is carried.
Slide 25: Approve Directors' fees
Resolution 2 To approve the payment of $369,000 as Directors’ fees for the year ended 31 December 2019, as recommended by the Board of Directors.
Slide 26: Approval of Directors' fees
Resolution 2 Approval of Directors’ fees No. of Votes Percentage For 174,304,274 100.00 Against 0 0.00 Ordinary Resolution 2 is carried.
Slide 27: Resolution 3: Declare final dividend
Resolution 3 To declare a tax exempt final dividend of 1.85 cents per ordinary share for the year ended 31 December 2019.
Slide 28: Declaration of final dividend
Resolution 3 Declaration of final dividend No. of Votes Percentage For 174,304,274 100.00 Against 0 0.00 Ordinary Resolution 3 is carried.
Slide 29: Re-elect Mr Lee Sze Hao as Director
Resolution 4 To re-elect Mr Lee Sze Hao as Director.
Slide 30: Re-election of Mr Lee Sze Hao as Director
Resolution 4 Re-election of Mr Lee Sze Hao as Director No. of Votes Percentage For 174,304,274 100.00 Against 0 0.00 Ordinary Resolution 4 is carried.
Slide 31: Re-elect Dr Joseph Yeong Wee Yong as Director
Resolution 5 To re-elect Dr Joseph Yeong Wee Yong as Director.
Slide 32: Re-election of Dr Joseph Yeong Wee Yong as Director
Resolution 5 Re-election of Dr Joseph Yeong Wee Yong as Director No. of Votes Percentage For 174,196,274 99.94 Against 108,000 0.06 Ordinary Resolution 5 is carried.
Slide 33: Re-appoint Ernst & Young LLP as auditors
Resolution 6 To re-appoint Ernst & Young LLP as auditors and to authorise the Directors to fix their remuneration.
Slide 34: Re-appointment of Ernst & Young LLP as Auditor
Resolution 6 Re-appointment of Messrs Ernst & Young LLP as Auditor and to authorise Directors to fix their remuneration No. of Votes Percentage For 174,304,274 100.00 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 and Rule 806 of the Listing Manual of the SGX, to issue new shares and 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 169,592,574 97.30 Against 4,711,700 2.70 Ordinary Resolution 7 is carried.
Slide 37: Sing Holdings Limited Annual General Meeting
SING HOLDINGS LIMITED ANNUAL GENERAL MEETING — scucwing cates with respect to FY2019 dividends: Thank you for tuning in to our live webcast. ex-dividend date : i Tuesday 26 May 2020 For more information on Sing Holdings Annual General Meeting, payment date please go to: Wednesday 3 June 2020 www.sin