Money Stash

51 Cash-Rich Companies That The Virus Would Find Them Hard To Kill

Alvin Chow
Alvin Chow

Many companies are facing liquidity challenges due to the abrupt disruption to economic activities. Investors would want to pick stocks that will survive this crisis and emerge stronger when we get out of it.

The key to survival is to either have positive cash flow or to have a lot of cash to burn over a long period of time. It would be even better if a company has both.

We will use two filters to fish out these stocks:

  • Net Cash position = Cash more than total liabilities
  • Positive Free Cash Flow = The most stringent way to assess the cash flow of a company

I ended up with 57 stocks listed on the SGX after applying the filters.

I shortened the list to 51 by removing those on SGX Watchlist and were suspended.

But before I unveil the list, it is important to note that these data are historical (based on their annual reports) and things can change dramatically with businesses impacted by Covid-19. For example, Genting Singapore has been affected as their attractions are closed and tourism is now non-existent. Another example would be SIA Engineering. With airplanes grounded, the need for maintenance and repair would drastically reduce.

Hence, please perform further analysis to assess the business viability in the future. This list is meant to help you generate trade ideas but you have to do more than simply buying off the list.

#1 – Genting Singapore (SGX:G13)

  • Cash = $3,947m
  • Total Liabilities = $1,192m
  • Net cash per share = $0.228
  • Share price =$0.65
  • 35% of share price backed by net cash
  • Free Cash Flow = $902m

Genting Singapore engages in the development and operation of resorts and casinos. It operates through the Leisure and Hospitality; and Investments segments.

#2 – Haw Par (SGX:H02)

  • Cash = $466m
  • Total Liabilities = $85m
  • Net cash per share = $1.722
  • Share price =$9.25
  • 19% of share price backed by net cash
  • Free Cash Flow = $196m

Haw Par engages in the licensing of Tiger trademarks, and owning investments for long term holding purposes. It operates through the following segments: Healthcare, Investments and Others. The Healthcare segment manufactures and distributes topical analgesic products under the Tiger Balm and Kwan Loong brands. The Investments segment engages in investing activities such as quoted and unquoted securities in the Asia region.

#3 – SIA Engineering Company (SGX:S59)

  • Cash = $522m
  • Total Liabilities = $285m
  • Net cash per share = $0.212
  • Share price =$1.58
  • 13% of share price backed by net cash
  • Free Cash Flow = $164m

SIA Engineering Co. engages in the provision of airframe maintenance, component overhaul services and fleet management programme, the provision of line maintenance and technical ground handling services and investment holdings. It operates through the following two segments: Airframe and Line Maintenance, and Engine and Component. The Airframe and Line Maintenance segment provides airframe maintenance, line maintenance, and fleet management programme. The Engine and Component segment includes component overhaul and engine repair and overhaul services.

#4 – United Overseas Australia (SGX:EH5)

  • Cash = $385m
  • Total Liabilities = $350m
  • Net cash per share = $0.023
  • Share price =$0.56
  • 4% of share price backed by net cash
  • Free Cash Flow = $183m

United Overseas Australia engages in property development, investment, management, and construction. It operates through the following segments: Investments, Land Development & Resale, and Others. The Investment segment includes the holding of investment properties to generate rental income, capital appreciation or both. The Land Development & Resale segment involves in development, construction and sale of residential and commercial properties. The Others segment engages in operations of hotel and food and beverage outlets, provision of facilities, support services and carpark operations, revenue from moneylending services and provision of management services.

#5 – Vicom (SGX:V01)

  • Cash = $93m
  • Total Liabilities = $73m
  • Net cash per share = $0.227
  • Share price =$7.25
  • 3% of share price backed by net cash
  • Free Cash Flow = $32m

Vicom engages in the provision of motor evaluation and other related services. It also involves in the inspection and testing services in fields including mechanical, biochemical, civil engineering, and non-destructive testing.

#6 – Yeo Hiap Seng (SGX:Y03)

  • Cash = $296m
  • Total Liabilities = $102m
  • Net cash per share = $0.334
  • Share price =$0.79
  • 42% of share price backed by net cash
  • Free Cash Flow = $10m

Yeo Hiap Seng engages in the manufacture and trade of consumer products. It operates through the Consumer Food and Beverage Products, and Others segment. The Consumer Food and Beverage Products segment produces, sells, and distributes beverages and food products. The Others segment comprises of investment in property holding, equity investment holding, and property development. Its brands include Yeo’s, H-TWO-O, Culinary Sauces, Culinary Paste, Pink Dolphin, and Justea.

#7 – AEM (SGX:AWX)

  • Cash = $108m
  • Total Liabilities = $94m
  • Net cash per share = $0.052
  • Share price =$1.67
  • 3% of share price backed by net cash
  • Free Cash Flow = $66m

AEM engages in the provision of engineering solutions. The firm provides solutions in equipment systems, precision components, substrates packaging, and related manufacturing services across various industries. It operates through the following segments: Equipment Systems Solutions (ESS), Precision Component Solutions (PCS), and Others. The ESS segment provides customized system solutions. The PCS segment designs, develops, and manufactures engineering products used in the electronics, life sciences, instrumentation, and aerospace industries. The Others segment comprises of non-allocated, dormant companies, and other activities.

#8 – HRNetGroup (SGX:CHZ)

  • Cash = $266m
  • Total Liabilities = $73m
  • Net cash per share = $0.192
  • Share price =$0.41
  • 47% of share price backed by net cash
  • Free Cash Flow = $59m

HRnetGroup engages in the provision of personnel recruitment and human resource related services. It operates through the following segments: Professional Recruitment, Flexible Staffing, and Others.

#9 – Straco (SGX:S85)

  • Cash = $200m
  • Total Liabilities = $109m
  • Net cash per share = $0.106
  • Share price =$0.46
  • 23% of share price backed by net cash
  • Free Cash Flow = $47m

Straco engages in the development and operation of tourism-related businesses. It operates through the Aquariums and Giant Observation Wheel segments. The Aquariums segment focuses in the operation of aquatic-related facilities and tourist attractions, including sea mammal performances. The Giant Observation Wheel segment involves in the management of a circular giant observation structure, and provision of commercial space.

#10 – Hour Glass (SGX:AGS)

  • Cash = $181m
  • Total Liabilities = $76m
  • Net cash per share = $0.149
  • Share price =$0.52
  • 29% of share price backed by net cash
  • Free Cash Flow = $50m

The Hour Glass engages in the retail and distribution of watches, jewelry, and other luxury products. It operates through the South East Asia and Australia,; and North East Asia geographical segments. 

#11 – Bund Center (SGX:BTE)

  • Cash = $160m
  • Total Liabilities = $41m
  • Net cash per share = $0.156
  • Share price =$0.44
  • 35% of share price backed by net cash
  • Free Cash Flow = $42m

Bund Center engages in the development of commercial and retail properties. It operates through Hotel and Property Leasing segments. The Hotel segment encompasses the ownership of hotel, which is under the management of Westin Hotel Management LP. The Property Leasing segment refers to the ownership and leasing of investment properties.

#12 – China Sunsine (SGX:QES)

  • Cash = $247m
  • Total Liabilities = $69m
  • Net cash per share = $0.183
  • Share price =$0.28
  • 65% of share price backed by net cash
  • Free Cash Flow = $76m

China Sunsine Chemical engages in the production specialty chemical, rubber accelerators, and insoluble sulphur. It operates through the following segments: Rubber Chemicals, Heating Power, and Others. The Rubber Chemicals segment manufactures and sells rubber chemicals. The Heating Power segment focuses on the production and supply heating power. The Other segment includes the investment holding in Singapore, and hotel and restaurant in People’s Republic of China.

#13 – Valuetronics (SGX:BN2)

  • Cash = $161m
  • Total Liabilities = $147m
  • Net cash per share = $0.03
  • Share price =$0.50
  • 6% of share price backed by net cash
  • Free Cash Flow = $64m

Valuetronics Holdings Ltd. is an investment company, which engages in the provision of electronics manufacturing services. It operates through the Consumer Electronics; and Industrial and Commercial Electronics segments. The Consumer Electronics segment includes consumer electronic products. The Industrial and Commercial Electronics segment offers industrial and commercial electronics products.

#14 – Kimly (SGX:1D0)

  • Cash = $87m
  • Total Liabilities = $33m
  • Net cash per share = $0.047
  • Share price =$0.188
  • 25% of share price backed by net cash
  • Free Cash Flow = $34m

Kimly engages in the provision of management services. It operates through the following business segments: Outlet Management, Food Retail, and Others. The Outlet Management segment comprises of coffee shop operations. The Food Retail segment retails cooked food through the stalls operated by the Group. The Others segment provides management and human resource services. 

#15 – Micro-Mechanics (SGX:5DD)

  • Cash = $22m
  • Total Liabilities = $12m
  • Net cash per share = $0.075
  • Share price =$1.48
  • 5% of share price backed by net cash
  • Free Cash Flow = $16m

Micro-Mechanics engages in the designs, manufactures, and markets high precision tools, parts, and assemblies for the semiconductor, medical, and aerospace industries. Its products include wire cutter blades, rubber tips, clamps with inserts, and large wire equipment.

#16 – Cortina (SGX:C41)

  • Cash = $81m
  • Total Liabilities = $77m
  • Net cash per share = $0.027
  • Share price =$1.20
  • 2% of share price backed by net cash
  • Free Cash Flow = $79m

Cortina engages in the distribution and trade of watches. It operates through the following segments: Wholesale, Retail, and Others. The Wholesale segment involves in wholesale of timepiece and luxury branded accessories. The Retail segment involves in retailing of timepiece, branded pens and accessories. The Others segment includes provision of other support services.

#17 – Chuan Hup (SGX:C33)

  • Cash = $169m
  • Total Liabilities = $26m
  • Net cash per share = $0.154
  • Share price =$0.177
  • 87% of share price backed by net cash
  • Free Cash Flow = $5m

Chuan Hup engages in investment holding, trading, and providing management services. It operates through the following segments: Investment, Electronics Manufacturing Services, and Property segments. The Investment segment deals with the investment holding and trading, group level corporate, and treasury activities. The Electronics Manufacturing Services segment delivers end-to-end manufacturing supply chain solutions. The Property segment comprises of property development, and investment in properties and property related entities.

#18 – Duty Free International (SGX:5SO)

  • Cash = $102m
  • Total Liabilities = $61m
  • Net cash per share = $0.034
  • Share price =$0.13
  • 26% of share price backed by net cash
  • Free Cash Flow = $12m

Duty Free International Ltd. is an investment holding company, which through its subsidiaries engages in duty-free merchandise and hospitality services. It operates through following two segments: Trading of Duty Free Goods and Non-Dutiable Merchandise; and Investment Holding and Others.

#19 – ISEC Healthcare (SGX:40T)

  • Cash = $26m
  • Total Liabilities = $11m
  • Net cash per share = $0.027
  • Share price =$0.285
  • 10% of share price backed by net cash
  • Free Cash Flow = $11m

ISEC Healthcare Ltd. operates as an investment holding company, which engages in the provision of medical eye care services. It operates through the General Health Services and General Health Services. The Specialized Health Services segment includes medical care, consultancy, treatment, and surgery in the field of ophthalmology. The General Health Services provides general medical services. 

#20 – Fu Yu (SGX:F13)

  • Cash = $88m
  • Total Liabilities = $55m
  • Net cash per share = $0.044
  • Share price =$0.196
  • 22% of share price backed by net cash
  • Free Cash Flow = $22m

Fu Yu engages in the manufacture and sub-assembly of precision plastic parts and components and fabrication of precision molds and dies. It operates through the following geographical segments: Singapore, Malaysia, and China.

#21 – Challenger (SGX:573)

  • Cash = $78m
  • Total Liabilities = $58m
  • Net cash per share = $0.057
  • Share price =$0.385
  • 15% of share price backed by net cash
  • Free Cash Flow = $36m

Challenger Technologies engages in the provision of information technology products and services through the sale of IT and related products. It operates through the following business segments: IT Products and Services; Electronic Signage Services; and Telephonic Call Centre and Data Management Services. The IT Products and Services segment involves in retailing a selection of IT products including personal computers, notebooks, printers, scanners, digital imaging solutions, personal digital assistants, mobile and wireless connectivity solutions, audio-visual and projection equipment, and related peripherals. The Electronic Signage Services segment includes the supply and installation of electronic signages and provision of electronic signage services. The Telephonic Call Centre and Data Management Services segment carries on the business of telephonic call centre, data management services, and direct marketing services.

#22 – Hotung (SGX:BLS)

  • Cash = $48m
  • Total Liabilities = $6m
  • Net cash per share = $0.434
  • Share price = $1.33
  • 33% of share price backed by net cash
  • Free Cash Flow = $11m

Hotung Investment provides investment advisory services. Its subsidiaries provide securities trading, overseas investment, asset management, investment advices and investment services. The company operates through the following business segments: Investments and Fund Management. The Investments segment objective is to long-term capital appreciation by investing in a balanced and well-diversified portfolio, and assisting and adding value to the portfolio of companies. The Fund management segment provides investment consultancy and advisory services to entities within the Group. 

#23 – Jumbo (SGX:42R)

  • Cash = $47m
  • Total Liabilities = $18m
  • Net cash per share = $0.044
  • Share price = $0.198
  • 22% of share price backed by net cash
  • Free Cash Flow = $9m

Jumbo engages in the operation of food and beverage outlets. Its restaurant operation includes the following brands: JUMBO Seafood, JPOT-Hotpot Singapore Style, NG AH SIO Bak Jut Teh, Chui Huay Lim Teochew Cuisine, J Cafe-Singapore’s Local Delights, Singapore Seafood Republic, and JUMBO Catering. It also offers retail packs including JUMBO cereal Premix, JUMBO Chili Crab Paste, JUMBO Black Pepper Crab Spice, and NG AH SIO Authentic Teochew Style Bak Kut Teh Spice.

#24 – Engro (SGX:S44)

  • Cash = $35m
  • Total Liabilities = $27m
  • Net cash per share = $0.064
  • Share price = $0.835
  • 8% of share price backed by net cash
  • Free Cash Flow = $7m

EnGro engages in the manufacture and sale of building materials and specialty polymers. It operates through the following segments: Cement and Building Materials, Specialty Polymer, Investments, and Food and Beverage. The Cement and Building Materials segment includes the manufacture and sale of cement, ready-mix concrete, and building materials. The Specialty Polymer segment produces and markets thermosetting synthetic resin, and plastic materials. The Investments segment trades equity securities, debt securities, and management of holds investments in venture capital funds. The Food and Beverage segment focuses on food and beverage outlets under franchise.

#25 – Spindex (SGX:564)

  • Cash = $42m
  • Total Liabilities = $42m
  • Net cash per share = $0.001
  • Share price = $0.765
  • 0% of share price backed by net cash
  • Free Cash Flow = $18m

Spindex Industries engages in the import, export, and distribution of mechanical, electrical, and electronic parts. It operates through the following segments: Imaging and Printing; Machinery and Automotive Systems; and Others. The Imaging and Printing segment offers turned parts such as shafts, mini shafts, sleeves, and other critical components. The Machinery and Automotive Systems segment produces components used in automotive sensor assemblies, throttle mechanisms and gear shafts that may ultimately be used in brakes, drive systems, and industrial tools. The Others segment comprises of domestic appliances, consumer electronics, data storage, telecommunications, and others.

#26 – Singapore O&G (SGX:1D8)

  • Cash = $26m
  • Total Liabilities = $13m
  • Net cash per share = $0.028
  • Share price = $0.158
  • 17% of share price backed by net cash
  • Free Cash Flow = $13m

Singapore O&G engages in the provision of medical and management services. It operates through the following segments: Obstetrics and Gynecology, Cancer-Related, Dermatology, Pediatrics, and Corporate. The Obstetrics and Gynecology segment includes general obstetrics, labor and delivery, general gynecology and surgery, female pelvic medicine, urogynecology, and reconstructive surgery. The Cancer-Related segment relates to medical services for gyne-oncology, breast, and general surgery. The Dermatology offers aesthetic dermatological procedures, dermatologic and a laser surgery, and general skin care. The Pediatrics segment comprises general pediatrics and adolescent medical services. The Corporate segment refers to group-level corporate services and strategic management function.

#27 – Place Holdings (SGX:E27)

  • Cash = $63m
  • Total Liabilities = $9m
  • Net cash per share = $0.009
  • Share price = $0.012
  • 77% of share price backed by net cash
  • Free Cash Flow = $0m

The Place Holdings engages in the investment, development, and management of media-related businesses. It operates through the Media and Event Management Services; and Others segments. 

#28 – Sarine Technologies (SGX:U77)

  • Cash = $25m
  • Total Liabilities = $24m
  • Net cash per share = $0.002
  • Share price = $0.189
  • 1% of share price backed by net cash
  • Free Cash Flow = $10m

Sarine Technologies Ltd. engages in the development, manufacture, marketing, and sale of precision technology products for the processing, grading and trade of diamonds and gemstones. It offers rough stone polishing and polished diamond grading and trade products and services.

#29 – CNMC Goldmine (SGX:5TP)

  • Cash = $22m
  • Total Liabilities = $15m
  • Net cash per share = $0.016
  • Share price = $0.155
  • 10% of share price backed by net cash
  • Free Cash Flow = $4m

CNMC Goldmine engages in the business of exploration, mining of gold, and the processing of mined ore into gold dores. It operates through the Gold Mining and Other Operations segments. The Gold Mining segment explores, develops, mines, and markets gold. The Other Operations segment includes investment holding activities and provision of corporate services.

#30 – Powermatic Data (SGX:BCY)

  • Cash = $24m
  • Total Liabilities = $8m
  • Net cash per share = $0.476
  • Share price = $1.80
  • 26% of share price backed by net cash
  • Free Cash Flow = $9m

Powermatic Data Systems engages in the design and manufacture of wireless connectivity devices and provision of wireless solutions. It operates through the following segments: Wireless Connectivity products and Freehold Investment Property. The Wireless Connectivity Products segment comprises manufacture, marketing, and distribution of wireless connectivity products. The Freehold Investment Property involves in the lease and maintenance of Harrison Industrial Building.

#31 – PNE Industries (SGX:BDA)

  • Cash = $41m
  • Total Liabilities = $20m
  • Net cash per share = $0.254
  • Share price = $0.74
  • 34% of share price backed by net cash
  • Free Cash Flow = $7m

PNE Industries engages in design, manufacture, and sale of electronic products. It operates through two segments: Contract Manufacturing and Trading. The Contract Manufacturing segment develops electronic controllers and transformers. The Trading segment produces and sells emergency lighting equipment and printing materials.

#32 – Asia Healthcare Specialists (SGX:1J3)

  • Cash = $17m
  • Total Liabilities = $6m
  • Net cash per share = $0.033
  • Share price = $0.18
  • 18% of share price backed by net cash
  • Free Cash Flow = $3m

Asian Healthcare Specialists Ltd. operates as an investment holding company. Through its subsidiaries, it engages in the provision of medical consultancy and services in the field of orthopaedic medicine.

#33 – Avi-Tech (SGX:BKY)

  • Cash = $10m
  • Total Liabilities = $7m
  • Net cash per share = $0.016
  • Share price = $0.305
  • 5% of share price backed by net cash
  • Free Cash Flow = $5m

Avi-Tech Electronics engages in the design and manufacture of burn-in and related services, provision of engineering services, and trading of imaging equipment and energy efficient products. It operates through the following segments: Burn-in Services; Manufacturing and Printed Circuit Board Assembly Services, and Engineering. The Burn-in Services segment refers to the process whereby the individual integrated circuit chips are stressed at high temperature to weed out any defects caused during the assembly process. The Manufacturing and Printed Circuit Board Assembly Services segment comprises the assembly of printed circuit boards used for burn-in and reliability testing of integrated circuit chips. The Engineering segment includes the system integration projects, equipment manufacturing, technical services, and distribution of third party products.

#34 – Japan Foods (SGX:5OI)

  • Cash = $22m
  • Total Liabilities = $10m
  • Net cash per share = $0.07
  • Share price = $0.30
  • 23% of share price backed by net cash
  • Free Cash Flow = $4m

Japan Foods engages in the management of restaurants and ancillary business. It operates through the Restaurant Sales and Franchised Operation segment. Its brands include Ajisen Ramen, Akimitsu, Kazokutei, Menya Musashi, Menzo Butao, New ManLee Bak Kut Teh, Osaka Ohsho, Yonehachi, and Konjiki Hototogisu.

#35 – Chemical Industries (SGX:C05)

  • Cash = $32m
  • Total Liabilities = $12m
  • Net cash per share = $0.262
  • Share price = $0.645
  • 41% of share price backed by net cash
  • Free Cash Flow = $12m

Chemical Industries operates as an investment holding company, which engages in the manufacture and sale of chemicals. Through its subsidiaries, it operates through the Industrial Chemicals and Properties segments. The Industrial Chemicals segment manufactures and sells chemicals. The Properties segment manages and rents commercial properties.

#36 – Ellipsiz (SGX:BIX)

  • Cash = $75m
  • Total Liabilities = $13m
  • Net cash per share = $0.371
  • Share price = $0.265
  • 140% of share price backed by net cash
  • Free Cash Flow = $2m

Ellipsiz engages in the provision of management services. It operates through the segment: Distribution and Services Solutions, and Vending Solutions. The Distribution and Services Solutions segment includes the distribution of equipment and tools for semiconductor and electronics manufacturing, integrated circuit failure analysis, IC reliability testing, and printed circuit board assembly testing and inspection. The Vending Solutions segment refers to the distribution, operation, and provision of retail solutions through intelligent automated retail machines.

#37 – Baker Tech (SGX:BTP)

  • Cash = $45m
  • Total Liabilities = $41m
  • Net cash per share = $0.02
  • Share price = $0.21
  • 9% of share price backed by net cash
  • Free Cash Flow = $14m

Baker Technology manufactures specialized equipment and services for the oil and gas industry. It operates through the following business segments: Marine Offshore, Investments and Corporate. The Marine Offshore segment manufactures and provides specialized marine offshore equipment and services for the oil and gas industry which consists of Sea Deep Shipyard Pte Ltd., Baker Engineering Pte Ltd., and their respective subsidiaries. The Investments segment relates to investments in available-for-sale investments. The Corporate segment involves corporate services and treasury functions.

#38 – AIMS Property Securities Fund (SGX:BVP)

  • Cash = $3m
  • Total Liabilities = $0m
  • Net cash per share = $0.048
  • Share price = $0.9432
  • 5% of share price backed by net cash
  • Free Cash Flow = $1m

AIMS Property Securities Fund operates as a real estate securities fund. It invests in a listed property trusts, unlisted property trusts, and listed property-related companies. The company manages property and mortgage funds.

#39 – Choo Chiang (SGX42E)

  • Cash = $15m
  • Total Liabilities = $15m
  • Net cash per share = $0.004
  • Share price = $0.20
  • 2% of share price backed by net cash
  • Free Cash Flow = $5m

Choo Chiang engages in the distribution and retail of electrical products and accessories. It operates through the Distribution Business and Property Investment segments.

#40 – Asia Enterprises (SGX:A55)

  • Cash = $47m
  • Total Liabilities = $14m
  • Net cash per share = $0.097
  • Share price = $0.11
  • 88% of share price backed by net cash
  • Free Cash Flow = $6m

Asia Enterprises engages in the distribution of steel products. It operates through the following segments: Steel Distribution, Provision of Steel Processing, and Corporate. The Steel Distribution segment procures, distributes, and trades shipbuilding plates, hot-rolled plates, wide-flanged beams, bulb flats, channels, angles, bars, hollow sections, pipes, and serrated galvanized gratings. The Provision of Steel Processing segment processes steel materials for sale. The Corporate segment involves in investment and management activities.

#41 – Koda (SGX:BJZ)

  • Cash = $18m
  • Total Liabilities = $11m
  • Net cash per share = $0.084
  • Share price = $0.445
  • 19% of share price backed by net cash
  • Free Cash Flow = $6m

Koda engages in the manufacture of furniture and fixtures of wood, and furniture design services. It operates through the Manufacturing, and Retail and Distribution segments. Its products are classified in the bedroom, dining, home office, and living collections. 

#42 – Advancer Global (SGX:43Q)

  • Cash = $26m
  • Total Liabilities = $12m
  • Net cash per share = $0.054
  • Share price = $0.14
  • 38% of share price backed by net cash
  • Free Cash Flow = $2m

Advancer Global provides integrated services offering workforce solutions and services in Singapore. It operates through the following segments: Employment Services Business, Building Management Services Business, and Security Services Business. The Employment Services Business segment offers one-stop shop services services for the sourcing, employment and training of foreign domestic workers to households, as well as the sourcing and employment of foreign workers to, amongst others, corporations and organizations. The Building Management Services Business segment involves in integrated building facility management services including property consultancy, property and facilities management services, property valuation, investment sales, cleaning and stewarding, waste management, landscape, pest control and fumigation services. The Security Services Business segment comprises of manpower and technology for security solutions and services to, amongst others, commercial, industrial, and residential properties.

#43 – Sin Heng Heavy Machinery (SGX:BKA)

  • Cash = $25m
  • Total Liabilities = $23m
  • Net cash per share = $0.017
  • Share price = $0.27
  • 6% of share price backed by net cash
  • Free Cash Flow = $18m

Sin Heng Heavy Machinery engages in the rental and trading of cranes, aerial lifts and other lifting equipment. It operates through the Equipment Rental and Trading segments. The Equipment Rental segment involves rental of cranes and aerial lifts. The Trading segment deals with trading of cranes and aerial lifts. 

#44 – Brook Crompton (SGX:AWC)

  • Cash = $18m
  • Total Liabilities = $16m
  • Net cash per share = $0.066
  • Share price = $0.86
  • 8% of share price backed by net cash
  • Free Cash Flow = $3m

Brook Crompton engages in the distribution of electric motors. It also offers management services. It operates through the following segments: Asia Pacific, United Kingdom, North America, and Corporate.

#45 – LHT (SGX:BEI)

  • Cash = $32m
  • Total Liabilities = $9m
  • Net cash per share = $0.426
  • Share price = $0.49
  • 87% of share price backed by net cash
  • Free Cash Flow = $6m

LHT engages in the manufacture and distribution of wooden pallets and timber-related products. It operates through the following business segments: Pallet and Packaging; Timber Related Products; Technical Wood and Related Products; and Pallet Rental and Other Services. The Pallet and Packaging segment manufactures and supplies wooden pallets and cases for the packing of industrial products. The Timber Related Products segment involves the trading of raw timber related products. The Technical Wood and Related Products segment produces technical wood, technical wood flooring, and wood waste collection. The Pallet Rental and Other Services segment handles the pallet-leasing business.

#46 – Intraco (SGX:I06)

  • Cash = $33m
  • Total Liabilities = $28m
  • Net cash per share = $0.052
  • Share price =$0.225
  • 23% of share price backed by net cash
  • Free Cash Flow = $1m

Intraco engages in the trading of plastics products, providing fire protection solutions, and services relating to wireless telecommunication related infrastructure. It operates through the Fire Protection, and Trading and Others segments. The Fire Protection segment deals with manufacturing and installation of passive fire protection products. The Trading and Others segment focuses on trading in industrial materials including plastics, provision of commercial wireless services, and investment holding.

#47 – Axcelasia (SGX:42U)

  • Cash = $8m
  • Total Liabilities = $2m
  • Net cash per share = $0.037
  • Share price = $0.137
  • 27% of share price backed by net cash
  • Free Cash Flow = $1m

Axcelasia engages in the provision of integrated professional services to government-linked entities, private and public listed companies, and multinational corporations. It operates through the following business segments: Tax Advisory, Business Consultancy, Technology Tools and Advisory, and Business Support Services. The Tax Advisory segment provides corporate and individual tax compliance, training, and knowledge management services. The Business Consultancy segment relates to governance and compliance assessment, internal audit services, business continuity management, and financial management. The Technology Tools and Advisory segment sells license of the Enterprises Risk Management software and also offers information technology audit, cyber security management and system implementation advisory services. The Business Support segment offers corporate secretarial services, accounting, payroll, and administration support.

#48 – Starland (SGX:5UA)

  • Cash = $24m
  • Total Liabilities = $9m
  • Net cash per share = $0.103
  • Share price = $0.12
  • 86% of share price backed by net cash
  • Free Cash Flow = $4m

Starland engages in development of integrated residential and commercial properties. It operates through the following segments: Property Development, Property Management, and Rental. The Property Development segment develops residential, commercial, and other properties. The Property Management segment offers property management, and other services. The Rental segment leases properties held for sale to generate rental income.

#49 – HL Global Enterprises (SGX:AVX)

  • Cash = $57m
  • Total Liabilities = $3m
  • Net cash per share = $0.574
  • Share price =$0.181
  • 317% of share price backed by net cash
  • Free Cash Flow = $2m

HL Global Enterprises engages in the business of hotel management and property development. It operates through the following segments: Investments and Others; Hospitality and Restaurant; and Property Development. The Investments and Others segment invests in properties for rental and investment holding. The Hospitality and Restaurants segment focuses on the operating and management of hotels and restaurants. The Property Development segment develops properties for sale and rental and development project management.

#50 – LCT (SGX:BJL)

  • Cash = $10m
  • Total Liabilities = $7m
  • Net cash per share = $0.084
  • Share price = $0.46
  • 18% of share price backed by net cash
  • Free Cash Flow = $1m

LCT engages in the business of property investment.

#51 – Asia Vets (SGX:5RE)

  • Cash = $12m
  • Total Liabilities = $2m
  • Net cash per share = $0.074
  • Share price = $0.063
  • 115% of share price backed by net cash
  • Free Cash Flow = $1m

Asia Vets engages in the provision of veterinary services, and sale of veterinary medicines and products. Its services include vaccination, health check, dentistry, acupuncture, natural killer cell and stem cell therapies, in-house blood tests, interventional radiology and endoscopy, surgery and minimally-invasive procedures, and diagnostic imaging.

Conclusion

Covid-19 has impacted many businesses and now it is about staying alive. To do so, companies must either have positive cash flow or have a huge cash pile to tide them through this god-knows-how-long period.

I have filtered companies listed in Singapore that have a net cash position (cash more than total liabilities) and positive free cash flow. They should have a higher chance of survival compared to others which have weaker financial positions.

I have also given a word of caution that these are based on historical figures and you must do more analysis, especially think about how they would fare during this Covid-19 period.

Nonetheless, this list offers a good starting place for you to generate trade ideas!

Alvin Chow
Alvin Chow
CEO of Dr Wealth. Built a business to empower DIY investors to make better investments. A believer of the Factor-based Investing approach and runs a Multi-Factor Portfolio that taps on the Value, Size, and Profitability Factors. Conducts the flagship Intelligent Investor Immersive program under Dr Wealth. An author of Secrets of Singapore Trading Gurus and Singapore Permanent Portfolio. Featured on various media such as MoneyFM 89.3, Kiss92, Straits Times and Lianhe Zaobao. Given talks at events organised by SGX, DBS, CPF and many others.
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12 thoughts on “51 Cash-Rich Companies That The Virus Would Find Them Hard To Kill”

  1. Thanks Alvin for sharing this list.
    You guys have been so generous with sharing your knowledge and experience since the good old BFP days.
    Take care and stay healthy.

    Reply
  2. Hi, may I ask if there was a platform to apply such filtering easily? Or was this list screened manually? Thanks.

    Reply
  3. While i understand u removed financial institutions but how about companies like F&N, Straits Trading which are companies with substantial cash and short term investments?

    Reply

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