SingAsia Holdings (8293) AI Stock Analysis

• Market Cap: HK$86.02M
• Dividend Yield: N/A
• Average Volume (3M): 42.98K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.61
• Revenue Growth: 1.43%
• EPS Growth: 86.01%
• Country: HK
• Employees: 69
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): >-0.01
• Shares Outstanding: 215,040,100
• 10 Day Avg. Volume: 6,000
• 30 Day Avg. Volume: 42,980
• PEG Ratio: <0.01
• Price to Book (P/B): 0.35
• Price to Sales (P/S): 0.08
• P/FCF Ratio: -4.40
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: HK$0.36 ▼(-10.75% Downside)

The overall stock score is primarily influenced by the company's financial performance and valuation challenges, which are significant concerns. Despite strong technical indicators suggesting bullish momentum, the overbought status and negative valuation metrics weigh heavily on the score.

Positive Factors

Revenue Growth

The recent revenue growth indicates potential market expansion and increased demand for logistics services, which could support long-term business sustainability.

Leverage Management

Improved leverage management suggests enhanced financial discipline, potentially reducing financial risk and increasing operational stability.

E-commerce Growth

Rising e-commerce trends provide a structural tailwind for logistics services, offering long-term growth opportunities for SingAsia Holdings.

Negative Factors

Profitability Challenges

Persistent profitability issues highlight challenges in cost management and pricing strategy, which could hinder long-term financial health.

Cash Flow Performance

Weak cash flow performance indicates inefficiencies in operations and could limit the company's ability to invest in growth opportunities.

Valuation Concerns

Negative valuation metrics reflect ongoing financial challenges, potentially deterring investors and affecting capital raising capabilities.

SingAsia Holdings Business Overview & Revenue Model

Company Description

SingAsia Holdings Limited, an investment holding company, provides workforce solutions in Singapore. The company offers manpower outsourcing, recruitment, and training services. The company also provides cleaning services. It offers workforce solutions for the hotel and resort, retail, and food and beverage sectors. SingAsia Holdings Limited was founded in 2004 and is headquartered in Singapore. SingAsia Holdings Limited is a subsidiary of Centrex Treasure Holdings Limited.

How the Company Makes Money

SingAsia Holdings generates revenue primarily through its logistics and supply chain services, which include warehousing, freight forwarding, and last-mile delivery solutions. The company operates on a fee-for-service model, charging clients for the transportation of goods and the storage of inventory. Additionally, it may benefit from long-term contracts with key clients, ensuring steady income streams. The company also explores partnerships with e-commerce platforms and retail businesses, which can provide additional revenue through integrated logistics solutions. Factors contributing to earnings include the growth of e-commerce in the region, increasing demand for efficient supply chain management, and the company's ability to optimize its operations through technology.

SingAsia Holdings Financial Statement Overview

Summary

SingAsia Holdings faces significant financial challenges characterized by declining revenues, persistent losses, and operational inefficiencies. The balance sheet shows rising leverage and declining equity, while cash flow statements highlight liquidity concerns. The company needs to address its operational inefficiencies and stabilize its cash flows to improve its financial health and sustainability.

Income Statement

SingAsia Holdings has experienced a declining revenue trend, with a notable decrease from $18.5 million in 2023 to $9.85 million in the TTM period. This represents a significant revenue drop of approximately 46.8%. The company has consistently reported negative EBIT and net income, resulting in negative profit margins and indicating ongoing operational challenges. Gross profit margin has also declined, further impacting profitability.

Balance Sheet

The company has a moderate debt-to-equity ratio, but the declining equity over the years raises concerns about financial stability. Stockholders' equity has decreased significantly, from $4.3 million in 2020 to $1.8 million in the TTM period. The equity ratio is relatively low at 35.2%, suggesting potential leverage concerns and a reduced buffer to absorb financial shocks.

Cash Flow

Operating cash flow has turned negative in the TTM period, reflecting potential cash management issues. The free cash flow has remained negative, indicating cash outflows exceed inflows. The company's ability to generate cash from operations is concerning, especially given the consistent negative operating and free cash flows highlighted by recent periods.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.85M	12.23M	12.32M	18.52M	9.79M	5.76M
Gross Profit	2.45M	2.04M	3.02M	4.29M	2.17M	1.48M
EBITDA	-2.05M	-104.71K	-2.72M	1.21M	-1.86M	-630.81K
Net Income	-3.61M	-1.13M	-3.27M	565.03K	-1.72M	-1.34M
Balance Sheet
Total Assets	5.23M	7.47M	7.27M	7.47M	6.61M	5.71M
Cash, Cash Equivalents and Short-Term Investments	1.08M	2.25M	4.22M	1.72M	370.06K	3.39M
Total Debt	1.44M	1.52M	2.85M	1.41M	1.64M	1.41M
Total Liabilities	3.39M	5.68M	4.39M	3.69M	3.34M	2.71M
Stockholders Equity	1.84M	1.79M	2.88M	3.78M	3.27M	2.99M
Cash Flow
Free Cash Flow	-1.28M	-1.81M	-230.35K	1.61M	-2.51M	-291.93K
Operating Cash Flow	-921.38K	-1.26M	129.25K	1.64M	-2.48M	-283.78K
Investing Cash Flow	-1.74M	-867.36K	-362.65K	-41.77K	-36.55K	-8.15K
Financing Cash Flow	1.52M	-1.39M	2.83M	-323.23K	-608.17K	-786.04K

SingAsia Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:8293, the sentiment is Positive. The current price of 0.4 is above the 20-day moving average (MA) of 0.32, above the 50-day MA of 0.26, and above the 200-day MA of 0.16, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 74.37 is Negative, neither overbought nor oversold. The STOCH value of 75.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:8293.

SingAsia Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2180	73 Outperform	HK$1.14B	7.50	11.29%	34.73%	17.49%	9.67%
8462	66 Neutral	HK$52.80M	5.24	7.43%	―	-11.47%	5.00%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
8031	59 Neutral	HK$81.30M	-8.33	―	―	―	―
8042	59 Neutral	HK$33.60M	15.00	3.76%	―	50.80%	―
8293	54 Neutral	HK$86.02M	-12.99	-47.93%	―	1.43%	86.01%
6919	46 Neutral	HK$612.17M	-10.60	-4.09%	2.25%	14.29%	-200.37%