EMERGING TOWNS&CITIES SING LTD (1C0) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of EMERGING TOWNS&CITIES SING LTD S$0.02, price S$0.02, upside +22.7%, quality 81 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Emerging Towns & Cities Singapore Ltd., an investment holding company, engages in the real estate business in Myanmar. The company develops and sells residential and commercial properties. It is also involved in property rental activities. Emerging Towns & Cities Singapore Ltd. was formerly known as Cedar Strategic Holdings Ltd.
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Emerging Towns & Cities Singapore Ltd., an investment holding company, engages in the real estate business in Myanmar. The company develops and sells residential and commercial properties. It is also involved in property rental activities. Emerging Towns & Cities Singapore Ltd. was formerly known as Cedar Strategic Holdings Ltd. and changed its name to Emerging Towns & Cities Singapore Ltd. in February 2017. The company was incorporated in 1980 and is based in Singapore.
Stock analysis
EMERGING TOWNS&CITIES SING LTD (1C0) currently trades at 0.0150 SGD, while our model-based Fair Value estimate is 0.0184 SGD, implying the stock looks roughly 18.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 0.0500 SGD per share, and 11 of the 13 models we run sit above the 0.0150 SGD price.
Bear case: the Economic Profit group reads lowest at 0.0100 SGD, and 2 of the 13 models stay below the price. Evidence for this calculation is low.
Scenario range: 0.0161 SGD (bear) to 0.0218 SGD (bull), the price of 0.0150 SGD sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 81/100 (high quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
EMERGING TOWNS&CITIES SING LTD reported revenue of 20.2M SGD in FY2025 versus 9.4M SGD in FY2021, a compound +21.3%/yr. Reported net income was 2.7M SGD in FY2025.
Key figures
Market cap 38.8M SGD (≈ $30.3M) · P/S ratio 1.64 · Net margin 13.5% · Return on equity 119% · Return on assets (EBIT) 1.5% · Operating margin −14.2% · Revenue (TTM) 23.6M SGD · Revenue growth (YoY) +310%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 56% below its 52-week high and 25% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 6% fair-value upside, at 23%, 1C0 screens cheaper than that median.
Fair Value models
Bear 0.0161 SGDFair Value 0.0184 SGDBull 0.0218 SGD
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+48.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.2%
Start year 2020 (pandemic). Over 10 years: +14.5% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−16.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.6%
Dividend (yield on the price)0.0%
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.66% → 17%
⚠ Revenue per share shrinking 21.7%/yr over ~6Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−27.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Singapore: IMF forecast 2.0% a year to 2030, 1.7% from 2016 to 2025) that is about −29.1% a year for the price.
Compare EMERGING TOWNS&CITIES SING LTD with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 566 stocks
Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score83 · Top 25%
Fair Value upside+22.7% · Below median
Profitability
Return on equity (TTM)119.4% · Top 25%
Return on assets23.4% · Top 25%
Net margin (TTM)18.9% · Above median
Operating margin (TTM)−14.2% · Bottom 25%
Growth and dividend
Revenue growth310.1% · Top 25%
Balance sheet
Debt / equity0.60× · Above median
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "EMERGING TOWNS&CITIES SING LTD Fair Value". https://www.fairvalue-calculator.com/stock/1C0
Frequently asked questions
Is EMERGING TOWNS&CITIES SING LTD (1C0) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of 0.0184 SGD versus a price of 0.0150 SGD, about +23% upside (undervalued).
What is the fair value of 1C0?
Our model-based fair value for EMERGING TOWNS&CITIES SING LTD is 0.0184 SGD (as of Sep 27, 2026), built from audited fundamentals. The current price: 0.0150 SGD.
What is the quality score of 1C0?
EMERGING TOWNS&CITIES SING LTD has a Quality Score of 81/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for EMERGING TOWNS&CITIES SING LTD (1C0)?
Our model-based price target is the fair value of 0.0184 SGD (as of Sep 27, 2026) from 13 valuation models. Cautious scenario 0.0161 SGD, optimistic scenario 0.0218 SGD. It is a calculation from audited fundamentals, not an analyst target.
What is the EMERGING TOWNS&CITIES SING LTD stock forecast for 2026?
Our models put fair value at 0.0184 SGD, about +23% upside versus a price of 0.0150 SGD (undervalued). Cautious scenario 0.0161 SGD, optimistic scenario 0.0218 SGD. The calculation is refreshed regularly with new filings.
What is the revenue of EMERGING TOWNS&CITIES SING LTD (1C0)?
EMERGING TOWNS&CITIES SING LTD reported trailing-twelve-month revenue of about 23.6M SGD (latest available figure, as of Sep 27, 2026).
What growth is priced into EMERGING TOWNS&CITIES SING LTD (1C0)?
For today's price to be fair in a discounted-cash-flow model, EMERGING TOWNS&CITIES SING LTD would have to grow free cash flow by -27.6 % per year for five years (discount rate 8.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.2 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of 1C0 use?
Our models discount EMERGING TOWNS&CITIES SING LTD at 8.3 %: a base by market capitalisation (nano), damped by beta 0.01, country premium for Singapore. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For EMERGING TOWNS&CITIES SING LTD that is -27.6 % per year a year over ten years, using the same discount rate (8.3 %) and the same formula as our fair value.
How much growth has EMERGING TOWNS&CITIES SING LTD (1C0) delivered so far?
Over the past 5 years revenue at EMERGING TOWNS&CITIES SING LTD grew -6.2 % a year. The price currently implies -27.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of EMERGING TOWNS&CITIES SING LTD (1C0) growing?
The median revenue growth in the sector is +2.0 % a year. That is the yardstick for the growth priced into EMERGING TOWNS&CITIES SING LTD (-27.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of EMERGING TOWNS&CITIES SING LTD (1C0)?
The free-cash-flow yield on the price is 38.59 %: that much free cash flow EMERGING TOWNS&CITIES SING LTD produces per unit of market value. When it exceeds the discount rate of our models (8.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of EMERGING TOWNS&CITIES SING LTD (1C0)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EMERGING TOWNS&CITIES SING LTD it is 0.0184 SGD per share (as of Sep 27, 2026), against a price of 0.0150 SGD. It is the blended result of 13 valuation models (cash flow, earnings, asset, dividend).
Is EMERGING TOWNS&CITIES SING LTD stock overvalued or undervalued in 2026?
As of Sep 27, 2026, 1C0 trades below its calculated fair value: price 0.0150 SGD, fair value 0.0184 SGD, a gap of about +23% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 1C0?
No. The price is what the market pays today (0.0150 SGD); the fair value is what the company's own numbers justify (0.0184 SGD). For EMERGING TOWNS&CITIES SING LTD the two are 0.0034 SGD per share apart. That gap is exactly why we show both numbers side by side.
How much is EMERGING TOWNS&CITIES SING LTD worth?
The market values EMERGING TOWNS&CITIES SING LTD at about 38.8M SGD (market capitalisation, as of Sep 27, 2026). Per share that is 0.0150 SGD; our models calculate a fair value of 0.0184 SGD per share.
What do the bullish and bearish scenarios say about 1C0?
Our models span a range for EMERGING TOWNS&CITIES SING LTD: cautious scenario 0.0161 SGD, base 0.0184 SGD, optimistic 0.0218 SGD per share (as of Sep 27, 2026, price 0.0150 SGD). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of EMERGING TOWNS&CITIES SING LTD (1C0)?
Balance-sheet figures for EMERGING TOWNS&CITIES SING LTD (as of Sep 27, 2026): return on equity 119.4%, debt of 0.60 per unit of equity. They feed the Quality Score of 81/100, which measures business quality independently of the share price.
How far is 1C0 from its 52-week high?
EMERGING TOWNS&CITIES SING LTD trades at 0.0150 SGD, about 56% below its 52-week high of 0.0340 SGD and 25% above the low of 0.0120 SGD (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 0.0184 SGD is for.
Which stocks are comparable to EMERGING TOWNS&CITIES SING LTD?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, Hongkong Land Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is EMERGING TOWNS&CITIES SING LTD stock attractive at the current price?
The data as of Sep 27, 2026: price 0.0150 SGD, calculated fair value 0.0184 SGD (+23%), Quality Score 81/100, from 13 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 1C0 calculated?
We run EMERGING TOWNS&CITIES SING LTD through 13 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 0.0184 SGD, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. EMERGING TOWNS&CITIES SING LTD currently trades 18 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of EMERGING TOWNS&CITIES SING LTD (1C0)?
The closing price on Oct 1, 2026 was 0.0150 SGD. Our model-based fair value is 0.0184 SGD, about +23% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EMERGING TOWNS&CITIES SING LTD right now?
The price is below even our cautious bear case (0.0161 SGD). The market is more pessimistic than our downside scenario. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of EMERGING TOWNS&CITIES SING LTD
How large is the market capitalisation of EMERGING TOWNS&CITIES SING LTD (1C0)?
The market capitalisation of EMERGING TOWNS&CITIES SING LTD is 38.8M SGD (≈ $30.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of EMERGING TOWNS&CITIES SING LTD (1C0)?
The price-to-sales ratio of EMERGING TOWNS&CITIES SING LTD is 1.64 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of EMERGING TOWNS&CITIES SING LTD (1C0)?
The net margin of EMERGING TOWNS&CITIES SING LTD is 13.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of EMERGING TOWNS&CITIES SING LTD (1C0)?
The return on equity (ROE) of EMERGING TOWNS&CITIES SING LTD is 119% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of EMERGING TOWNS&CITIES SING LTD (1C0)?
On an EBIT basis the return on assets of EMERGING TOWNS&CITIES SING LTD is 1.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of EMERGING TOWNS&CITIES SING LTD (1C0)?
The operating margin of EMERGING TOWNS&CITIES SING LTD is −14.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EMERGING TOWNS&CITIES SING LTD (1C0)?
Revenue at EMERGING TOWNS&CITIES SING LTD is growing +310% versus a year earlier (3y avg +3.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at EMERGING TOWNS&CITIES SING LTD (1C0)?
Earnings per share at EMERGING TOWNS&CITIES SING LTD are growing −88.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does EMERGING TOWNS&CITIES SING LTD (1C0) carry?
The net debt of EMERGING TOWNS&CITIES SING LTD is 41.6M SGD (fiscal year 2023, ≈ 7.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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