I Reinvest In This Singapore Developer Again! - Part 1
Today, I will be writing about a Singapore Listed Developer that I had re-invest in – Bought in 2015, sold in 2018, bought again recently!
The company is Bukit Sembawang Estates Limited (Ticker: B61) and is listed on SGX.
|Logo taken from The Official Atelier Website|
I have also written quite a few articles on this company since 2015 (You can click on the label at the bottom of the page to find all its related articles).
Here are the highlights based on its most recent FY2022 half yearly report and FY2021 annual report:
|NCAV Formula as per Wikipedia|
|Balance Sheet as of FY22 Half Yearly Report|
Bukit Sembawang has a net cash amount of S$452m. With a market cap of S$1.29bn, this meant that the net cash constitute 35% of the company’s market cap!
3. Dividend is back at 33 cents!
In one of my past articles, I mentioned that some fundamental changes resulted in the company having a significant reduction in cash, which led to the company reducing its dividend and eventually affecting the share price.
|Bukit Sembawang Dividend Payout as per SGX Website|
|Screenshot of The Investor-One Article|
As (1) the shareholders did not change since 2015, (2) the company having sufficient cash, (3) Singapore being a dividend tax free country, and (4) Bukit Sembawang has a past history of giving 33 cents annually, it does not make sense that they will not approve the continuation of the proposed 33 cents in dividend for 2022.