Singapore “Flyer” of the Week: Colex Holdings

colexWaste management company, Colex Holdings Limited (Catalist: 567), rose 8.8% so far for the week, closing at $0.186 yesterday.

Colex Holdings Limited operates Colex Environmental Pte Ltd, which has more than three decades of track record in waste disposal services. It currently has a 7-year, S$139.8 million public waste collection contract for the Jurong sector that started in April 2013.

Colex Holdings belongs to the Industrial Division of Bonvest. Bonvests Holdings Limited (SGX: B28), which owns 78.9% of Colex Holdings, announced early last month that for its third quarter of 2013 results,

“Revenue for the Industrial Division of S$13.211 million for 3Q2013 increased by 16.3% from S$11.362 million for 3Q2012 mainly due to rollover effect of existing contracts, new contracts secured and contracts renewed at higher rates during 3Q2013. Segment profit of S$0.851 million for 3Q2013 increased by 30.3% from 3Q2012 profit of S$0.653 million mainly due to the increase in revenue and enhanced Special Employment Credit. The Industrial Division will continue to face challenging market conditions.”

Other waste management companies listed in Singapore Exchange include 800 Super Holdings Limited (SGX: 5TG) and Sembcorp Industries Limited (SGX: U96). 800 Super Holdings Limited operates 800 Super Waste Management Pte Ltd and Sembcorp Industries Limited operates SembWaste Pte Ltd. A fourth company, Veolia ES Singapore Pte Ltd, is not listed. SembWaste Pte Ltd is currently the largest solid waste management provider in Singapore serving five out of nine geographical sectors (a 56% market share).

Currently, Colex Holdings is trading at a historical PE ratio of 10.1 and has a dividend yield of 2.7%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.