Singapore Strategy - Phillip Securities 2020-03-16: Top 20 Net Cash To Market Cap Companies

Top 20 Net Cash To Market Cap Companies | SGinvestors.io PENGUIN INTERNATIONAL LIMITED (SGX:BTM) PROPNEX LIMITED (SGX:OYY) HONG LEONG ASIA LTD. (SGX:H22)

Singapore Strategy - Top 20 Net Cash To Market Cap Companies

  • With the market in a tailspin, we will periodically screen companies that enjoy some of the strongest balance sheets in comparison to their market cap.
  • Our screening criteria for the Top 20 net cash to market capitalisation companies are:
    1. company has to be above S$100mn in market capitalization
    2. excludes financial companies (a large part of their cash holdings are customer deposits).
  • Some of the stocks generated in our screen are under our coverage – Penguin International (SGX:BTM) and PropNex (SGX:OYY). We have a BUY recommendation on both companies. See report:
  • The screen not only shows the healthy balance-sheet of the company, but it can also reflect how cheap the valuations of the company especially when we strip out the cash.



SGX listed companies by Highest net cash to market capitalisation ratio


Company Market Cap
S$mn
Cash
S$mn
Total Debt
S$mn
Net Cash
S$mn
Net cash
to Mkt cap.
Average
Daily Vol.
(30D)
Last
Price
Hong Leong Asia (SGX:H22) 325.3 1,208.5 723.6 484.9 1.49 193 0.41
Creative Technology (SGX:C76) 145.3 135.5 8.4 127.1 0.87 61 0.20
NSL LTD. (SGX:N02) 272.7 281.6 54.6 227.0 0.83 17 0.30
Chuan Hup (SGX:C33) 184.7 145.4 0.0 145.4 0.79 107 0.55
China Sunsine (SGX:QES) 312.1 247.1 2.0 245.2 0.79 713 0.89
Valuetronics (SGX:BN2) 230.6 181.4 0.5 180.9 0.78 2,315 0.46
China Aviation Oil (SGX:G92) 782.8 509.3 20.0 489.3 0.63 614 0.47
Yeo Hiap Seng (SGX:Y03) 481.3 301.2 21.8 279.4 0.58 21 0.20
Hanwell (SGX:DM0) 100.7 131.2 77.5 53.7 0.53 248 0.68
Penguin International (SGX:BTM) 109.0 59.9 2.4 57.5 0.53 585 0.50
Duty Free International (SGX:5SO) 149.8 114.8 37.7 77.1 0.51 235 0.60
PEC (SGX:IX2) 128.8 96.5 31.1 65.4 0.51 33 0.80
HRnetGroup (SGX:CHZ) 498.5 266.2 14.3 251.9 0.51 416 0.84
Hock Lian Seng (SGX:J2T) 153.6 77.6 0.0 77.6 0.50 117 1.71
Fu Yu (SGX:F13) 158.1 85.1 9.4 75.7 0.48 2,271 0.68
Genting Singapore (SGX:G13) 8,385.0 3,947.2 260.6 3,686.6 0.44 36,237 0.03
Challenger Technologies (SGX:573) 157.1 77.9 12.3 65.6 0.42 36 0.63
PropNex (SGX:OYY) 183.2 81.6 5.3 76.3 0.42 332 15.31
Bund Center Investment (SGX:BTE) 390.8 159.5 0.1 159.4 0.41 18 0.27
United Global (SGX:43P) 139.1 53.5 0.2 53.3 0.38 121 7.65

  • Source: Bloomberg, PSR
  • # Explanation – A ratio of 0.87, means 87% of the market cap is cash on hand.





Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2020-03-16
SGX Stock Analyst Report BUY MAINTAIN BUY 0.880 SAME 0.880
BUY MAINTAIN BUY 0.700 SAME 0.700
NOT RATED MAINTAIN NOT RATED 99998.000 SAME 99998.000



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