Latest news with #Catalist
CNA
2 hours ago
- Business
- CNA
Concert promoter Unusual apologises for inaccurate directors' remuneration disclosures in annual reports
SINGAPORE: Homegrown concert promoter Unusual on Tuesday (Jul 22) apologised for publishing wrong information about its directors' remuneration in two of its annual reports following queries from an investor group. For the financial year of 2024, the Catalist-listed firm had paid S$100,000 (US$78,198) in fees and S$1.7 million in incentives, among others, to its key management and board directors. However, remuneration disclosures in the year's annual report showed all its seven directors receiving less than S$250,000 each, when in fact Mr Leslie Ong and Mr Johnny Ong, the firm's two founders, earned above S$750,000 that year. In its latest annual report for 2025, the breakdown of compensation showed a header that said 'below S$250,000' despite some of its directors receiving total remuneration that exceeded that figure. Pointing out the discrepancies, the Securities Investors Association Singapore (SIAS), also asked why the firm had dished out S$1.7 million in directors' incentives in the year before a major loss and whether it was impacted by the troubles surrounding its major shareholder mm2 Asia. Unusual reported a net loss of S$22.5 million for the financial year of 2025, a reversal from profits of S$7.7 million in the previous year. In a filing to the Singapore Exchange on Jul 22, Unusual said 'the sub-headings in the tables showing the directors' remuneration were not correct in the company's annual reports'. It added that it had issued corrected figures of its directors' remuneration via a bourse filing on Jul 21, and apologised 'for any confusion that may arise'. 'Moving forward, we will take steps to strengthen the review and validation process to prevent such occurrences in the future,' said the firm, which was the concert promoter for Hong Kong Heavenly King Jacky Cheung's concert here in 2023 and most recently, Mandopop veteran Wakin Chau and Japanese pop legend Ayumi Hamasaki. On its financial losses, Unusual attributed this to several factors: a lower number of projects completed during the year; an increase in 'fair value loss on financial assets' due to the firm's decision to pivot away from certain genres in line with changing market conditions and evolving audience demand; as well as higher show fees and operational costs. Asked by SIAS if the awarding of S$1.7 million in directors' incentives in the year before a major loss may raise concerns about the company's governance and the integrity of its performance-based pay, Unusual said the incentives were 'determined based on performance metrics and contractual entitlements applicable at the time, taking into account the business environment and contributions made by the executive directors'. It added that the losses in 2025 were due to 'unexpected changes in the industry and broader operating conditions, which could not have been reasonably foreseen'. That said, the firm's board 'acknowledges that this may raise questions about perceived alignment between short-term incentives and long-term outcomes', and its remuneration committee 'will refine the remuneration structure to strengthen alignment with long-term performance'. This includes incorporating appropriate safeguards, performance conditions and accountability mechanisms to protect the interests of all shareholders, Unusual said. CONCERNS ABOUT MM2 Unusual, founded in 1997, counts entertainment firm mm2 Asia as its major shareholder. The latter owns 51 per cent of Unusual Management, which in turn holds 76.88 per cent of Unusual. Mainboard-listed mm2 Asia, which also owns Cathay Cineplexes, has been in the news for financial woes sparked by its struggling cinema operations. The entertainment firm has recently said it is mulling several options – including winding up the cinema business – to address its financial challenges. On whether mm2's financial issues have affected Unusual and what financial safeguards are in place, Unusual said that the issues presently faced by mm2 Asia 'is peculiar to itself and has nothing to do with the company'. The management of Unusual is also 'separate and independent' from mm2 Asia, it said. Mr Melvin Ang, founder and executive chairman of mm2 Asia, currently sits on the board of Unusual as an non-executive chairman and non-independent director. In response to further questions from SIAS, Unusual said that the group's recent pivot away from certain content genres, such as family-themed projects, was a 'commercially-driven or market-focused decision' that had nothing to do with mm2 Asia. On questions surrounding mm2 Asia's stake in the firm and whether Unusual's board would consider new strategic investors, the homegrown concert promoter replied that its board and directors has, from time to time, responded to 'queries from various parties, including possible strategic investors, on collaborations in various forms'. It added that it 'is open for discussion on any initiative(s) to bring the company and group to greater heights' but it would 'respectfully desist from making any comments on the possibilities and eventual outcome related to mm2 Asia's stake in the company'.
Yahoo
a day ago
- Business
- Yahoo
If EPS Growth Is Important To You, TSH (Catalist:KUH) Presents An Opportunity
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks' without any revenue, let alone profit. Unfortunately, these high risk investments often have little probability of ever paying off, and many investors pay a price to learn their lesson. A loss-making company is yet to prove itself with profit, and eventually the inflow of external capital may dry up. So if this idea of high risk and high reward doesn't suit, you might be more interested in profitable, growing companies, like TSH (Catalist:KUH). While this doesn't necessarily speak to whether it's undervalued, the profitability of the business is enough to warrant some appreciation - especially if its growing. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. TSH's Earnings Per Share Are Growing If a company can keep growing earnings per share (EPS) long enough, its share price should eventually follow. So it makes sense that experienced investors pay close attention to company EPS when undertaking investment research. TSH's shareholders have have plenty to be happy about as their annual EPS growth for the last 3 years was 54%. Growth that fast may well be fleeting, but it should be more than enough to pique the interest of the wary stock pickers. It's often helpful to take a look at earnings before interest and tax (EBIT) margins, as well as revenue growth, to get another take on the quality of the company's growth. TSH shareholders can take confidence from the fact that EBIT margins are up from 5.9% to 8.4%, and revenue is growing. Both of which are great metrics to check off for potential growth. In the chart below, you can see how the company has grown earnings and revenue, over time. For finer detail, click on the image. View our latest analysis for TSH Since TSH is no giant, with a market capitalisation of S$4.3m, you should definitely check its cash and debt before getting too excited about its prospects. Are TSH Insiders Aligned With All Shareholders? Theory would suggest that it's an encouraging sign to see high insider ownership of a company, since it ties company performance directly to the financial success of its management. So we're pleased to report that TSH insiders own a meaningful share of the business. To be exact, company insiders hold 80% of the company, so their decisions have a significant impact on their investments. This makes it apparent they will be incentivised to plan for the long term - a positive for shareholders with a sit and hold strategy. Valued at only S$4.3m TSH is really small for a listed company. So despite a large proportional holding, insiders only have S$3.4m worth of stock. That's not a huge stake in absolute terms, but it should help keep insiders aligned with other shareholders. It means a lot to see insiders invested in the business, but shareholders may be wondering if remuneration policies are in their best interest. Our quick analysis into CEO remuneration would seem to indicate they are. Our analysis has discovered that the median total compensation for the CEOs of companies like TSH with market caps under S$257m is about S$479k. TSH offered total compensation worth S$331k to its CEO in the year to December 2024. That is actually below the median for CEO's of similarly sized companies. CEO compensation is hardly the most important aspect of a company to consider, but when it's reasonable, that gives a little more confidence that leadership are looking out for shareholder interests. It can also be a sign of a culture of integrity, in a broader sense. Is TSH Worth Keeping An Eye On? TSH's earnings per share growth have been climbing higher at an appreciable rate. An added bonus for those interested is that management hold a heap of stock and the CEO pay is quite reasonable, illustrating good cash management. The sharp increase in earnings could signal good business momentum. Big growth can make big winners, so the writing on the wall tells us that TSH is worth considering carefully. You still need to take note of risks, for example - TSH has 2 warning signs we think you should be aware of. Although TSH certainly looks good, it may appeal to more investors if insiders were buying up shares. If you like to see companies with more skin in the game, then check out this handpicked selection of Singaporean companies that not only boast of strong growth but have strong insider backing. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Investors in Versalink Holdings (Catalist:40N) have seen respectable returns of 35% over the past three years
It is doubtless a positive to see that the Versalink Holdings Limited (Catalist:40N) share price has gained some 39% in the last three months. But that doesn't help the fact that the three year return is less impressive. In fact, the share price is down 51% in the last three years, falling well short of the market return. Since shareholders are down over the longer term, lets look at the underlying fundamentals over the that time and see if they've been consistent with returns. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. Versalink Holdings isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. Shareholders of unprofitable companies usually desire strong revenue growth. That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit. Over the last three years, Versalink Holdings' revenue dropped 4.3% per year. That is not a good result. The share price decline of 15% compound, over three years, is understandable given the company doesn't have profits to boast of, and revenue is moving in the wrong direction. Of course, it's the future that will determine whether today's price is a good one. We'd be pretty wary of this one until it makes a profit, because we don't specialize in finding turnaround situations. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). This free interactive report on Versalink Holdings' balance sheet strength is a great place to start, if you want to investigate the stock further. A Dividend Lost It's important to keep in mind that we've been talking about the share price returns, which don't include dividends, while the total shareholder return does. In some ways, TSR is a better measure of how well an investment has performed. Over the last 3 years, Versalink Holdings generated a TSR of 35%, which is, of course, better than the share price return. Even though the company isn't paying dividends at the moment, it has done in the past. A Different Perspective Over the last year Versalink Holdings shareholders have received a TSR of 2.0%. Unfortunately this falls short of the market return of around 27%. But the (superior) three-year TSR of 10% per year is some consolation. We prefer focus on longer term returns, as they are usually a more meaningful indication of the underlying business. It's always interesting to track share price performance over the longer term. But to understand Versalink Holdings better, we need to consider many other factors. Take risks, for example - Versalink Holdings has 2 warning signs we think you should be aware of. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies we expect will grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Singaporean exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
While individual investors own 22% of ISEC Healthcare Ltd. (Catalist:40T), public companies are its largest shareholders with 60% ownership
Key Insights ISEC Healthcare's significant public companies ownership suggests that the key decisions are influenced by shareholders from the larger public 60% of the company is held by a single shareholder (Aier Eye Hospital Group Co., Ltd.) Insider ownership in ISEC Healthcare is 15% This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. To get a sense of who is truly in control of ISEC Healthcare Ltd. (Catalist:40T), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 60% to be precise, is public companies. Put another way, the group faces the maximum upside potential (or downside risk). Individual investors, on the other hand, account for 22% of the company's stockholders. Let's delve deeper into each type of owner of ISEC Healthcare, beginning with the chart below. See our latest analysis for ISEC Healthcare What Does The Institutional Ownership Tell Us About ISEC Healthcare? Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. Less than 5% of ISEC Healthcare is held by institutional investors. This suggests that some funds have the company in their sights, but many have not yet bought shares in it. So if the company itself can improve over time, we may well see more institutional buyers in the future. We sometimes see a rising share price when a few big institutions want to buy a certain stock at the same time. The history of earnings and revenue, which you can see below, could be helpful in considering if more institutional investors will want the stock. Of course, there are plenty of other factors to consider, too. ISEC Healthcare is not owned by hedge funds. The company's largest shareholder is Aier Eye Hospital Group Co., Ltd., with ownership of 60%. This implies that they have majority interest control of the future of the company. Jun Shyan Wong is the second largest shareholder owning 4.8% of common stock, and CGS-CIMB Securities., Asset Management Arm holds about 2.8% of the company stock. Jun Shyan Wong, who is the second-largest shareholder, also happens to hold the title of Chief Executive Officer. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Our information suggests that there isn't any analyst coverage of the stock, so it is probably little known. Insider Ownership Of ISEC Healthcare While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of ISEC Healthcare Ltd.. Insiders own S$30m worth of shares in the S$196m company. This may suggest that the founders still own a lot of shares. You can click here to see if they have been buying or selling. General Public Ownership With a 22% ownership, the general public, mostly comprising of individual investors, have some degree of sway over ISEC Healthcare. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. Public Company Ownership It appears to us that public companies own 60% of ISEC Healthcare. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. Next Steps: While it is well worth considering the different groups that own a company, there are other factors that are even more important. Consider risks, for instance. Every company has them, and we've spotted 2 warning signs for ISEC Healthcare you should know about. Of course this may not be the best stock to buy. So take a peek at this free free list of interesting companies. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Times
2 days ago
- Business
- Business Times
With IPO in the bag, Sheffield Green plots training and listing spinoff for wind energy sector
[SINGAPORE] Getting its training centres off the ground took time and resources, but Sheffield Green is going all in on what it calls a 'new product line', with five to six centres set to be running by end-2025 – plus a potential spinoff and listing on the horizon. Sheffield Green – itself a spinoff of oil and gas recruiter Sheffield Energy – supplies manpower for the renewable energy sector, particularly in offshore wind. After its 2023 Catalist debut, the company looked to diversify and realised that it was spending heavily on third-party training for its workers. The Global Wind Organisation (GWO), a non-profit industry body, requires industry workers to be certified in basic training courses, with a mandatory refresher every two years. Having its own training centre meant Sheffield Green's manpower arm could become a client of its training arm, allowing revenue to be recognised within the group, said chief executive officer Bryan Kee. Running a centre solely for its own staff would not make financial sense, but Kee saw an opportunity. The company's existing manpower clients also needed to train their other workers, and could become paying customers of the training business. The group teamed up with a UK-based training solutions provider as a technical consultant to launch its first centre in October 2024 in Taiwan, where most of its business is based. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Seeing firsthand the strong margins in training, Kee realised this could be a lucrative new line. Sheffield Green thus set about exploring acquisitions, snapping up a business in Spain this June; it also hired a CEO, who came on board two months ago, to run the training arm. One-stop training shop Kee explained that, because GWO-accredited training is standardised, providers have to differentiate on price or delivery. Sheffield Green's offering, while 'not the cheapest out there', was developed with a consultant that 'sets the standard' in the field, and is aimed at large corporate clients that prioritise quality over cost savings. In Taiwan, the company currently runs three courses: GWO's Basic Safety Training, Advanced Rescue Training and Basic Technical Training. Kee is looking to introduce more course types, and is in talks with one of the world's largest turbine manufacturers to add product training to the centre's list of offerings. Citing a 2024 report by the GWO and Global Wind Energy Council, he pointed out the expected global shortage of skilled technicians to support the onshore and offshore wind sector. The report noted that, by 2028, more than 532,000 new wind technicians will be needed, with 40 per cent of these roles to be filled by new entrants. 'We do not want just to be a supplier to our clients,' said Kee. 'We want to be a long-term partner.' Over in Spain, Sheffield Green's training centre already offers more than 10 courses; this expertise could be shared with its other centres. Its existing training customers could also be potential clients for Sheffield Green's recruitment business. The decision to use acquisitions to expand Sheffield Green's training facilities was also financially driven. With an already-operational centre such as the one in Spain, 'straight away, you bring in the revenue', said Kee. In contrast, it took a year of preparation before the Taiwan centre commenced operations in late January and began to generate revenue in February, though it has now broken even. In the meantime, startup costs, including for rentals and instructor training, contributed to administrative expenses and finance costs, including in the first half of the 2025 financial year. This is why the training business involves a mix of greenfield projects and acquisitions. 'We can afford it,' said Kee. In Taiwan, Sheffield Green has a term loan which will be fully repaid by March next year; in Singapore, the company has 'cash sitting in the bank', the chief executive added. For H1 FY2025 ended Dec 31, 2024, Sheffield Green's revenue slipped marginally by 2.3 per cent to US$9 million, from US$9.2 million in the same period a year earlier. Kee attributed the dip to the completion of two major projects, as payments for its manpower services are made on a recurring, 30-to-60-day basis. He noted, however, that these clients are expected to continue engaging Sheffield Green's services. Meanwhile, the cost of services grew US$0.4 million or 6.5 per cent in that half-year, in line with the general increase in labour costs, as well as accounting for one-off tax-related costs for mobilising staff across borders. While Sheffield Green had at that time borne the cost of its client in Taiwan taking the recruiter's employees across jurisdictions to service other projects, it has since engaged tax consultants to familiarise itself with different regimes and renegotiated contracts to pass on such costs. For the period, the group recorded a net profit after tax of US$101,344, down from US$474,840 in H1 FY2024. Adding more facilities Based on May data, training now contributes up to 10 per cent of the group's revenue, Kee said. 'For a training business, the Ebitda (earnings before interest, taxes, depreciation and amortisation) can go as high as 40 per cent, depending on how you manage the training centre.' He added that the premises and equipment are a one-time investment. While funds are needed for things such as maintaining equipment, rental and utility bills, instructor costs and support roles, these are not too costly. Beyond the two training centres in Taiwan and Germany, Sheffield Green is also exploring the acquisition of UK-based training solutions provider Advanced Blade Repair Services, which Kee hopes to be finalised by end-August. In February this year, it entered into a joint venture (JV) in Malaysia to set up and run a centre in Sarawak. The JV partner has bought the land for the development, and they target to have the centre operational in about 10 months, Kee noted. Whether Sheffield Green builds from scratch or buys depends on several factors, including market maturity and the availability of acquisition targets. In the UK, a mature market, there are a hundred big and small players already, Kee pointed out. 'Why should I be number 101?' But in Sarawak, where options are limited, he added that there is 'still room for me to play'. Deciding where to base the training centres is not solely about where labour is needed, but also takes into account where international companies source their hires. Kee said that Malaysia, the Philippines and India are key labour export markets, thanks to their lower cost. In addition to the centres already in the works, Sheffield Green is considering acquiring two more from a training solutions provider in the Baltics. 'By the end of this year easily, we will have at least five to six training centres that will be generating revenue,' said Kee. Once that is all in place, the group plans to explore spinning off the training business and taking it public. 'If you ask me what's the long-term plan, this (training) business will be standalone,' he continued. While Sheffield Green would remain its biggest shareholder, it would also be able to service its competitors as an independent training partner, said Kee. The group is also considering two further greenfield projects in South Korea and Saudi Arabia, though these may not happen this year, as it plans to wait until the Malaysian greenfield centre is up and running. Industry headwinds While the offshore wind industry is still expected to grow significantly, it has seen recent setbacks. US President Donald Trump's administration is attempting to stymie support for renewable energy sources, disrupting progress in offshore wind. While Sheffield Green supplies manpower for several US-based offshore wind projects, it had held off on previously announced plans for a US office when a second Trump term seemed possible. 'There are plenty of other places I can focus (on),' Kee said. 'The capital (leaving the US) will go somewhere else for investment,' he noted, naming Australia as one potential beneficiary. 'So we are looking seriously at Australia as a market itself.' And although macroeconomic challenges and underdeveloped infrastructure have led to several high-profile offshore wind project cancellations in various countries, Kee believes that there are 'still very good markets'. In the UK, for example, oil and gas companies 'are all dying' despite there being abundant oil in the North Sea, as the government is 'pushing everything into offshore wind'. So whether individual countries' governments are supportive of the renewables shift is an important factor that can help the industry weather the storm, he said. In the close to two years since its listing, Sheffield Green's share price has not been able to reach its initial public offering (IPO) price of S$0.25 per share. Asked what he would say to potential shareholders, Kee replied: 'Definitely, I think, with the diversification that we have with training… gradually that will contribute to the group, that will push up the profitability of the company.' The company has remained profitable since going public, and has continued to pay dividends, he added. 'We will still continue to do that.'
