Uni-Asia Group Limited

Uni- Asia Group Limited

UNI-ASIA GROUP LIMITED and its subsidiaries (the “Group”) is an alternative investment group specialising in creating alternative investment opportunities and providing integrated services relating to such investments. The Group’s alternative investment targets are mainly handy dry bulk ships and properties. The Group also has extensive know-how and network relating to such alternative investments and provides services relating these investments. The two main alternative asset classes the Group focuses in are Shipping and Property.The business strategy employed by the Group towards shipping is to offer a one-stop integrated ship-related service solutions for clients, including ship investments, ship asset management services, ship chartering, ship management, ship brokerage and ship finance arrangement solutions. The strategy of offering a wide array of maritime related services would ensure the Group is resilient regardless of the market conditions and allow for growth in the long term. The Group currently owns 10 wholly-owned ships and 8 joint-investment ships.

Property investment business enhances Group’s asset base as well as the Group’s asset management business. Outside of Japan, the Group focuses on investment in Hong Kong office development projects and office investment in Guangzhou, China. Within Japan, the Group has a Japan licensed property asset management subsidiary which specialises in areas of property asset management as well as development of trademark small residential properties, the “ALERO” series.

Listed on the Main Board of the Singapore Exchange in August 2007, their offices are located in Hong Kong, Singapore, Tokyo, Shanghai and Guangzhou

 

1QFY2023  Results Announcement
15 May 2023


Recent Developments


Investment Merits

  • Attractively valued at 0.4x P/B
  • Steady dividend compounder- Uniasia has been consistently paying dividends since 2012.Uni-asia’s strong cashflow generation and low net debt position, suggests that they have more than enough cashflow to continue
    paring down debt while paying (or even increase dividend). – (Not to mention the lower finance expenses vs pre-COVID with the lower gross debt position)
  • Potential for recovery in 2024? According to Clarksons January report, it expects the bulkcarrier market to improve through the course of 2023 due to (i) China’s reopening, (ii) potential demand support from impacts from stimulus, (iii) global macroeconomic headwinds to start easing later in 2023. Clarksons was also positive of further improvements in the bulker market in 2024, on the back of a more positive supply demand fundamentals, with dry bulk tonne-mile trade projected to grow while underlying fleet growth is minimal, with impacts from the introduction of new environmental emission regulations to also continuing absorbing some supply

In The News


Research

Uni-Asia CONSENSUS
Brokerages Report Analysts Recommendation TP
SAC Capital Download File Lim Qiuni Nicole
Matthias Chan
BUY S$ 1.14
Phillip Capital Download File Phillip Research Team ACCUMULATE S$ 0.940
RHB Download File Alfie Yeo
Lim & Tan Download File Research Team Non-rated

 

Archive

2023

2022

2021

Initiations

Stock Information

Price Market Cap (SGDm) YE Free Float %
0.97 76.2 31 Dec 45.9%

Key Financial Highlights

Key Highlights 2020 2021 2022
Total income 46 69 86
EBITDA 17 32 43
Net Profit* (14) 18 27
Adjusted Net Profit** (1) 17 27
Adjusted Net Profit Margin -1.9% 24.0% 32.0%
Net profit to owners of the parent (8) 18 27
Net Asset Value per share (US cents) 150.72 168.11 191.00

 



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