Professional
Added to YB: 2026-01-26
Pitch date: 2026-01-22
H30.SI [neutral]
Hong Fok Corporation Limited
+4.85%
current return
Author Info
Corporate Monitor Limited shares objective research focused on corporate strategy, finance and governance. Visit the website.
Company Info
Hong Fok Corporation Limited, an investment holding company, engages in property investment, construction, development, and management activities in Singapore and Hong Kong.
Market Cap
SGD 667.7M
Pitch Price
SGD 0.82
Price Target
N/A
Dividend
1.22%
EV/EBITDA
46.32
P/E
20.61
EV/Sales
17.86
Sector
Real Estate Management and Development
Category
value
Hong Fok Corporation Ltd - Pay Without Performance
H30.SI (bearish): Family-controlled property investment co paying Cheong family executives S$16.5M (16% of revenue) vs peers at <5%. Co-CEOs earn ~10% of revenue despite 2%/1% gross/net yields vs peer avg 4.5%/3%. Last development 2014, 74% rental income. 5yr dividend yield 1.2% vs STI 3.9%. Trading 20% of NAV. Poor governance, bonus based on property revaluation gains.
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