Tat Seng Packaging Group Ltd (SG:T12)
SGX:T12
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Tat Seng Packaging Group Ltd
(SGX:T12)
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Rating:70Outperform
Price Target:
S$1.50
▲(66.67% Upside)
Action:UpgradedDate:03/10/26
The score is driven primarily by solid financial stability (moderate leverage, growing equity, and positive free cash flow) and an attractive valuation (low P/E and dividend support). Technicals are constructive but capped by overbought momentum signals, and revenue/earnings softness in 2025 limits the upside case.
Positive Factors
Conservative Balance Sheet
A conservatively financed balance sheet with moderate leverage and a growing equity base enhances financial resilience, reduces refinancing risk, and preserves optionality for capex or acquisitions. Over a 2–6 month horizon this structural strength supports stability in cash coverage and credit profiles, allowing management to prioritize operational improvements rather than urgent deleveraging.
Negative Factors
Persistent Revenue Decline
Multi-year revenue contraction undermines operating leverage and long-term growth prospects. Persistently falling sales constrain scale economies, reduce bargaining power with suppliers, and force reliance on margin improvements to sustain earnings. If sustained, declining top line erodes growth optionality and increases execution pressure on cost and customer retention strategies.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
A conservatively financed balance sheet with moderate leverage and a growing equity base enhances financial resilience, reduces refinancing risk, and preserves optionality for capex or acquisitions. Over a 2–6 month horizon this structural strength supports stability in cash coverage and credit profiles, allowing management to prioritize operational improvements rather than urgent deleveraging.
Read all positive factors
Tat Seng Packaging Group Ltd (T12) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$198.07M
Dividend Yield4.42%
Average Volume (3M)15.59K
Price to Earnings (P/E)8.2
Beta (1Y)0.29
Revenue Growth-8.46%
EPS Growth-23.11%
CountrySG
EmployeesN/A
SectorConsumer Cyclical
Sector Strength84
IndustryPackaging & Containers
Share Statistics
EPS (TTM)0.06
Shares Outstanding157,200,000
10 Day Avg. Volume8,580
30 Day Avg. Volume15,590
Financial Highlights & Ratios
PEG Ratio-0.99
Price to Book (P/B)0.66
Price to Sales (P/S)0.60
P/FCF Ratio7.82
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Tat Seng Packaging Group Ltd Business Overview & Revenue Model
Company Description
Tat Seng Packaging Group Ltd, together with its subsidiaries, designs, manufactures, and sells corrugated paper products and other packaging products in Singapore and the People's Republic of China. The company offers regular slotted carton boxes,...
How the Company Makes Money
Tat Seng Packaging Group Ltd primarily makes money by selling paper-based packaging products to business customers. Key revenue streams include: (1) sales of corrugated cartons/boxes and other corrugated packaging products manufactured by the grou...
Tat Seng Packaging Group Ltd Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
68
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 231.41M | 253.94M | 258.87M | 336.26M | 367.51M |
| Gross Profit | 48.40M | 56.48M | 57.11M | 58.94M | 69.17M |
| EBITDA | 32.43M | 36.13M | 37.52M | 36.27M | 43.88M |
| Net Income | 16.89M | 18.82M | 18.84M | 20.67M | 23.31M |
Balance Sheet | |||||
| Total Assets | 331.07M | 328.50M | 321.89M | 307.88M | 341.13M |
| Cash, Cash Equivalents and Short-Term Investments | 121.09M | 103.40M | 104.24M | 82.78M | 93.70M |
| Total Debt | 67.30M | 67.55M | 75.72M | 62.87M | 85.53M |
| Total Liabilities | 108.48M | 115.02M | 119.07M | 110.89M | 145.12M |
| Stockholders Equity | 211.56M | 202.41M | 191.46M | 185.20M | 183.36M |
Cash Flow | |||||
| Free Cash Flow | 17.80M | 25.34M | 32.43M | 23.60M | 9.29M |
| Operating Cash Flow | 27.25M | 29.67M | 43.79M | 43.24M | 18.40M |
| Investing Cash Flow | -6.16M | -17.21M | -25.33M | -18.49M | -8.38M |
| Financing Cash Flow | -8.59M | -17.24M | 6.37M | -27.45M | 5.54M |
Tat Seng Packaging Group Ltd Technical Analysis
Positive
0.90
Price Trends
1.05
Positive
0.97
Positive
0.93
Positive
Market Momentum
0.05
Positive
76.28
Negative
95.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:T12, the sentiment is Positive. The current price of 0.9 is below the 20-day moving average (MA) of 1.21, below the 50-day MA of 1.05, and below the 200-day MA of 0.93, indicating a bullish trend. The MACD of 0.05 indicates Positive momentum. The RSI at 76.28 is Negative, neither overbought nor oversold. The STOCH value of 95.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:T12.
Tat Seng Packaging Group Ltd Peers Comparison
UnderperformOutperform
Sector (61)
SG:T12
Tat Seng Packaging Group Ltd
1.26
0.45
56.52%
SG:N08
New Toyo International Holdings Ltd
0.20
-0.03
-14.35%
SG:BQP
Southern Packaging Group Limited
0.30
-0.18
-37.89%
Tat Seng Packaging Group Ltd Corporate Events
Tat Seng Packaging Reshapes Board as CEO Retires
Mar 2, 2026
Tat Seng Packaging Group has announced changes to its board following the planned retirement of Managing Director and Chief Executive Officer Loh See Moon, effective 2 March 2026. The board will consist of Executive Chairman Dr Goi Seng Hui and th...
Tat Seng Packaging to Absorb Subsidiary UPI’s Business in S$7.9 Million Internal Transfer
Dec 30, 2025
Tat Seng Packaging Group has signed a business transfer agreement to acquire the entire business, assets, liabilities and employees of its wholly owned subsidiary United Packaging Industries Pte. Ltd. for a transfer consideration of S$7.93 million...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.