SGX: KingsmenCreative (5MZ)       KINGSMEN CREATIVES LTD
Last Price Today's Change   Day's Range   Trading Volume
0.39   -0.01 (2.50%)  0.385 - 0.39  100


Avg Volume (4 weeks):0
Average Price Target: 0.80
Price Target Upside/Downside: +0.41


Date Subject
21-Oct-2019 Kingsmen Creative - Shoot for the Future

Business Background

Kingsmen Creatives Ltd., an investment holding company, engages in exhibitions and thematic, retail and corporate interiors, research and design, and alternative marketing businesses. It also provides corporate marketing and other related services. The company’s Exhibitions and Thematic segment produces exhibition displays for trade shows and promotional events; interiors and displays for museums and visitor centers; and thematic and scenic displays for theme parks. Its Retail and Corporate Interiors segment provides interior fitting-out services to commercial and retail properties. The company’s Research and Design segment offers design works for upmarket specialty stores, departmental stores, eateries, museums, visitors’ centers, corporate offices, showrooms, trade shows, events, promotional functions, and festivals. Its Alternative Marketing segment provides event management, branding consultancy, and custom publishing services. The company also provides design consultancy and planning management, advertising, marketing communications, electrical engineering, and graphic design and production services, as well as design and construction facilities to exhibitors. Further, it is involved in the design and production of architectural interiors, decorations, and museums; and provision of advertising contractor’s services. In addition, the company engages in the manufacture, wholesale, and trading of interior and exhibition furniture, and fixtures and displays. It operates in South Asia, North Asia, the Middle East, the United States, Canada, Europe, and internationally. Kingsmen Creatives Ltd. was founded in 1976 and is headquartered in Singapore.

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LanSeeBoy Expect a 12-30% retracement on this. Much larger (2-3x) Singaporean competitor Pico is trading at 8.8x p/e and 3.9x ev/ebitda. HK-listed Pico, with a proven track record nearly half a century long, has progressed from a major pan-Asia event organizer to a global brand activation company. Kingsmen is still a mere domestic event & exhibition player with nearly half of sales locally. It is on 10x p/e and 5.7x ebitda. Dun deserve such premium at all. Its limited free-float and absence of institutional interests are retarding the much needed downward adjustment in share price.
20/09/2015 5:19 PM
Peter Graham Lancashire The comparison with Pico Far East is helpful.key parameters for Pico (ROE, low debt, eps growth, management competence,decent dividend, valuation) are sound, only the development of Cash flow after working capital changes is relatively flat over the last few years and does not match EPS growth. why? PGL
08/10/2015 3:04 PM
LanSeeBoy Ummm...guess is juz the nature of their biz model - project driven. As Pico gets bigger jobs (esp more from China), cashflow gets a liitle more patchy.
13/10/2015 5:12 PM
snapsnap yah agree. kingsmen has been events exhibition centric
recent years not performing well.
30/10/2015 1:48 PM


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