The concept of multi-baggers was first made popular by the legendary Peter Lynch in his book "One Up on Wall Street". A multi-bagger means that a share has multiplied several times over in price. Do multi-baggers exist on the Singapore Exchange (SGX), or are they confined to US shares which have a lot of geography to grow their businesses compared to Singapore shares? Here is a list of all multi-baggers listed on the SGX that retained their original stock codes between May 2006 and May 2014. In total, there are 442 shares out of 709 shares in May 2006 that retained their original stock codes. Shares that have changed their stock codes due to corporate actions such as bonus issues and share splits have not been included in this analysis.
|RH Petrogas Ltd||0.060||0.660||1000%|
|Design Studio Group Ltd||0.045||0.480||967%|
|Yongnam Holdings Ltd||0.025||0.240||860%|
|Breadtalk Group Ltd||0.195||1.450||644%|
|Ramba Energy Ltd||0.085||0.490||477%|
|Super Group Ltd||0.600||3.390||465%|
|Swissco Holdings Ltd||0.075||0.415||453%|
|Chinavision Media Group Ltd||0.033||0.177||439%|
|MTQ Corporation Ltd||0.380||1.975||420%|
|Straco Corporation Ltd||0.125||0.645||416%|
|Lian Beng Group Ltd||0.155||0.705||355%|
|Casa Holdings Ltd||0.045||0.200||344%|
|Raffles Medical Group Ltd||0.800||3.500||338%|
|Transit-Mixed Concrete Ltd||0.095||0.415||337%|
|Loyz Energy Ltd||0.075||0.315||320%|
|ABR Holdings Ltd||0.215||0.880||309%|
|Jardine Cycle & Carriage Ltd||10.800||43.530||303%|
|Progen Holdings Ltd||0.040||0.160||300%|
|King Wan Corporation Ltd||0.075||0.295||293%|
|Genting Singapore PLC||0.360||1.330||269%|
|Nobel Design Holdings Ltd||0.155||0.560||261%|
|Poh Tiong Choon Logistics Ltd||0.170||0.605||256%|
|OKP Holdings Ltd||0.085||0.300||253%|
|Lee Metal Group Ltd||0.120||0.410||242%|
|Superbowl Holdings Ltd||0.220||0.750||241%|
|Challenger Technologies Ltd||0.160||0.530||231%|
|LHT Holdings Ltd||0.040||0.131||228%|
|Tye Soon Ltd||0.060||0.195||225%|
|Tuan Sing Holdings Ltd||0.105||0.340||224%|
|Jardine Matheson Hldgs Ltd||24.031||76.723||219%|
|United Envirotech Ltd||0.395||1.250||217%|
|Chip Eng Seng Corporation Ltd||0.235||0.735||213%|
|Jardine Strategic Hldgs Ltd||14.519||43.919||203%|
|Giken Sakata (S) Ltd||0.100||0.295||195%|
|Heeton Holdings Ltd||0.230||0.670||191%|
|Dairy Farm Int'l Holdings Ltd||4.506||13.067||190%|
|Koh Brothers Group Ltd||0.110||0.310||182%|
|Spindex Industries Ltd||0.180||0.490||172%|
|Tianjin Zhong Xin Pharm Group||0.501||1.352||170%|
|Far East Orchard Ltd||0.710||1.885||166%|
|Ho Bee Land Ltd||0.875||2.200||151%|
|Lee Kim Tah Hldgs Ltd||0.360||0.900||150%|
|Tai Sin Electric Ltd||0.140||0.350||150%|
|Etika International Hldgs Ltd||0.165||0.410||149%|
|Petra Foods Ltd||1.470||3.530||140%|
|Silverlake Axis Ltd||0.375||0.900||140%|
|Lion Teck Chiang Ltd||0.315||0.755||140%|
|Cortina Holdings Ltd||0.360||0.855||138%|
|Noel Gifts International Ltd||0.115||0.265||130%|
|Falcon Energy Group Ltd||0.150||0.345||130%|
|United Industrial Corp Ltd||1.480||3.330||125%|
|BRC Asia Ltd||0.090||0.200||122%|
|Sarine Technologies Ltd||1.080||2.400||122%|
|Select Group Ltd||0.160||0.350||119%|
|See Hup Seng Ltd||0.135||0.295||119%|
|Sim Lian Group Ltd||0.405||0.875||116%|
|Pollux Properties Ltd||0.040||0.085||113%|
|Karin Technology Hldgs Ltd||0.145||0.305||110%|
|Powermatic Data Systems Ltd||0.070||0.146||109%|
|Ying Li Intl Real Estate Ltd||0.130||0.270||108%|
|Teckwah Industrial Corp Ltd||0.195||0.400||105%|
|UOL Group Ltd||3.260||6.630||103%|
|Addvalue Technologies Ltd||0.065||0.132||103%|
|Sakae Holdings Ltd||0.265||0.530||100%|
Collectively, how have all the shares listed on SGX performed over the 8-year period from May 2006 till May 2014? Figure 1 below shows the distribution of multi-baggers. A positive value indicates that the price has multiplied while a negative value indicates that the price has reduced. For example, a (+2)-bagger means that the share price has doubled, while a (-2)-bagger means that the share price has halved.
|Figure 1: Distribution of Multi-Baggers on SGX|
On average, about half of the shares have neither doubled nor halved in price. 2-baggers form 7% (equivalent to 1 in 14) of the shares, while 3-baggers form 3.4% (1 in 29) of the shares. In total, positive multi-baggers form 14.9% of the shares. In other words, 1 in 7 shares have multiplied in price from May 2006 till May 2014.
On the converse side, 10.6% (1 in 9) of the shares have seen their prices halved, while another 5.2% (1 in 19) have their prices divided by 3 times or more. In total, negative multi-baggers form 36.9% of the shares. In other words, 1 in 3 shares have their prices at least halved from May 2006 till May 2014.
It is interesting to note that the no. of negative multi-baggers exceed that of positive multi-baggers for the same multiple, i.e. (-2)-baggers exceed (+2)-baggers, (-3)-baggers exceed (+3)-baggers, etc. At the extreme ends, a significant 8.4% (1 in 12) of the shares actually have their prices divided by 10 times or more! In contrast, only 2 shares have their prices multiplied by 10 times or more.
Figure 2 below shows the distribution of multi-baggers based on their prices in May 2006 while Figure 3 shows the same distribution in percentage terms.
|Figure 2: Distribution of Multi-Baggers Based on May 2006 Share Price|
|Figure 2: Percentage Distribution of Multi-Baggers Based on May 2006 Share Price|
Are your shares part of the multi-baggers that beat the Straits Time Index and the majority of investors hands-down? If so, you are on your way to becoming the Peter Lynch of Singapore!
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If you could add another column showing their low during 2009; it will be interesting to see how retail investors panic sold in 2009 and missing these multi-baggers.ReplyDelete
Thanks for your suggestion. Yes, it'll be interesting to find out how these stocks performed in the depth of the Global Financial Crisis. I'll consider this in my next blog post.Delete
Hi Chin Wai,ReplyDelete
Thanks for the collation and I find it really useful! Will definitely take a good look at the businesses behind some of these names.
If we understand how they became multi-baggers, maybe we could have a good chance to find out those 8 years down the road?
You're welcome :)Delete
Yes, that's my intention also.
Amazing blog post.Mentioning about the SGX Exchange publicly, considering the market as the sgx city and telling us that share trading can be an exiting task but, actually, it's a boring source of making money.ReplyDelete