Announcement • Jun 09
Kossan Rubber Industries Bhd Approves Final Single Tier Dividend for the Financial Year Ended 31 December 2025 Kossan Rubber Industries Bhd at the 46th AGM of the Company held on 9 June 2026, approved the payment of a final single tier tax exempt dividend of 2.0 Sen per ordinary share for the financial year ended 31 December 2025. Reported Earnings • May 22
First quarter 2026 earnings released: EPS: RM0.016 (vs RM0.014 in 1Q 2025) First quarter 2026 results: EPS: RM0.016 (up from RM0.014 in 1Q 2025). Revenue: RM470.4m (down 3.5% from 1Q 2025). Net income: RM39.5m (up 11% from 1Q 2025). Profit margin: 8.4% (up from 7.3% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 28
Kossan Rubber Industries Bhd, Annual General Meeting, Jun 09, 2026 Kossan Rubber Industries Bhd, Annual General Meeting, Jun 09, 2026, at 10:30 Singapore Standard Time. Location: ballroom 1, ground floor, setia city convention centre, 1 jalan setia dagang ag u13/ag, setia alam, seksyen u13, 40170 shah alam, selangor darul ehsan, Malaysia Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to RM1.20, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 19x in the Medical Equipment industry in Asia. Total loss to shareholders of 4.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM0.75 per share. Price Target Changed • Feb 24
Price target decreased by 7.2% to RM1.33 Down from RM1.43, the current price target is an average from 15 analysts. New target price is 27% above last closing price of RM1.05. Stock is down 43% over the past year. The company is forecast to post earnings per share of RM0.06 for next year compared to RM0.06 last year. Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: RM0.06 (vs RM0.046 in FY 2024) Full year 2025 results: EPS: RM0.06 (up from RM0.046 in FY 2024). Revenue: RM1.75b (down 8.8% from FY 2024). Net income: RM151.3m (up 28% from FY 2024). Profit margin: 8.7% (up from 6.2% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to RM0.96. The fair value is estimated to be RM1.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.6% over the last 3 years. Earnings per share has declined by 15%. For the next 3 years, revenue is forecast to grow by 9.6% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Board Change • Dec 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 1 experienced director. 7 highly experienced directors. Independent Non Executive Director David Lim was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Nov 29
Dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 15th December 2025 Payment date: 24th December 2025 Dividend yield will be 1.8%, which is higher than the industry average of 1.7%. Sustainability & Growth The dividend has increased by an average of 5.9% per year over the past 10 years. However, payments have been volatile during that time. Price Target Changed • Nov 28
Price target decreased by 9.0% to RM1.48 Down from RM1.63, the current price target is an average from 16 analysts. New target price is 34% above last closing price of RM1.10. Stock is down 56% over the past year. The company is forecast to post earnings per share of RM0.053 for next year compared to RM0.046 last year. Reported Earnings • Nov 28
Third quarter 2025 earnings released: EPS: RM0.015 (vs RM0.012 in 3Q 2024) Third quarter 2025 results: EPS: RM0.015 (up from RM0.012 in 3Q 2024). Revenue: RM439.0m (down 14% from 3Q 2024). Net income: RM37.8m (up 28% from 3Q 2024). Profit margin: 8.6% (up from 5.8% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM2.11b to RM2.05b. EPS estimate also fell from RM0.058 per share to RM0.052 per share. Net income forecast to grow 22% next year vs 34% growth forecast for Medical Equipment industry in Malaysia. Consensus price target down from RM1.99 to RM1.69. Share price was steady at RM1.21 over the past week. Price Target Changed • Aug 25
Price target decreased by 15% to RM1.70 Down from RM1.99, the current price target is an average from 16 analysts. New target price is 40% above last closing price of RM1.21. Stock is down 38% over the past year. The company is forecast to post earnings per share of RM0.052 for next year compared to RM0.046 last year. Reported Earnings • Aug 23
Second quarter 2025 earnings released: EPS: RM0.012 (vs RM0.012 in 2Q 2024) Second quarter 2025 results: EPS: RM0.012 (in line with 2Q 2024). Revenue: RM382.2m (down 11% from 2Q 2024). Net income: RM31.2m (flat on 2Q 2024). Profit margin: 8.2% (up from 7.3% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Aug 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to RM1.27. The fair value is estimated to be RM1.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 115%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Buy Or Sell Opportunity • Jul 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to RM1.31. The fair value is estimated to be RM1.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 32% over the last 3 years. Earnings per share has declined by 115%. Revenue is forecast to grow by 24% in 2 years. Earnings are forecast to grow by 58% in the next 2 years. New Risk • Jun 24
New major risk - Revenue and earnings growth Earnings have declined by 42% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 111% Paying a dividend despite having no free cash flows. Earnings have declined by 42% per year over the past 5 years. Reported Earnings • May 01
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: RM0.046 (up from RM0.005 in FY 2023). Revenue: RM1.92b (up 20% from FY 2023). Net income: RM118.3m (up RM105.0m from FY 2023). Profit margin: 6.2% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 1.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 128 percentage points per year, which is a significant difference in performance. Announcement • Apr 28
Kossan Rubber Industries Bhd, Annual General Meeting, May 29, 2025 Kossan Rubber Industries Bhd, Annual General Meeting, May 29, 2025, at 10:30 Singapore Standard Time. Location: ballroom 1, ground floor, setia city convention centre, 1 jalan setia dagang ag u13/ag, setia alam, seksyen u13, selangor darul ehsan, 40170 shah alam, Malaysia Price Target Changed • Feb 24
Price target decreased by 7.2% to RM2.42 Down from RM2.61, the current price target is an average from 16 analysts. New target price is 27% above last closing price of RM1.90. Stock is down 3.1% over the past year. The company is forecast to post earnings per share of RM0.061 for next year compared to RM0.047 last year. New Risk • Feb 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 31% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (31% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (7.6% average weekly change). Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: RM0.047 (vs RM0.005 in FY 2023) Full year 2024 results: EPS: RM0.047 (up from RM0.005 in FY 2023). Revenue: RM1.91b (up 20% from FY 2023). Net income: RM120.0m (up RM106.7m from FY 2023). Profit margin: 6.3% (up from 0.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 132 percentage points per year, which is a significant difference in performance. New Risk • Feb 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to RM1.97, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Medical Equipment industry in Asia. Total returns to shareholders of 30% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.92 per share. Upcoming Dividend • Nov 25
Upcoming dividend of RM0.08 per share Eligible shareholders must have bought the stock before 02 December 2024. Payment date: 12 December 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.7%. Lower than top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (1.5%). Buy Or Sell Opportunity • Nov 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to RM2.33. The fair value is estimated to be RM1.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 56% over the last 3 years. Earnings per share has declined by 127%. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 120% in the next 2 years. Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: RM0.012 (vs RM0.016 in 3Q 2023) Third quarter 2024 results: EPS: RM0.012 (down from RM0.016 in 3Q 2023). Revenue: RM507.4m (up 26% from 3Q 2023). Net income: RM29.4m (down 28% from 3Q 2023). Profit margin: 5.8% (down from 10% in 3Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 132 percentage points per year, which is a significant difference in performance. Announcement • Nov 15
Kossan Rubber Industries Bhd Announces Special Single Tier Tax Exempt Dividend for the Financial Year Ending December 31, 2024, payable on December 12, 2024 Kossan Rubber Industries Bhd announced special single tier tax exempt dividend of 6.0 sen per ordinary share for the financial year ending December 31, 2024. Ex-Date: December 2, 2024. Entitlement date: December 3, 2024. Payment Date: December 12, 2024. New Risk • Sep 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to RM2.25, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 15x in the Medical Equipment industry in Asia. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.82 per share. Buy Or Sell Opportunity • Sep 17
Now 24% overvalued Over the last 90 days, the stock has fallen 6.6% to RM2.25. The fair value is estimated to be RM1.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 59% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 43% in 2 years. Earnings are forecast to grow by 81% in the next 2 years. Major Estimate Revision • Aug 29
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM2.06b to RM1.97b. EPS estimate also fell from RM0.058 per share to RM0.049 per share. Net income forecast to grow 45% next year vs 35% growth forecast for Medical Equipment industry in Malaysia. Consensus price target down from RM2.34 to RM2.22. Share price fell 11% to RM1.82 over the past week. Reported Earnings • Aug 23
Second quarter 2024 earnings released: EPS: RM0.012 (vs RM0.001 loss in 2Q 2023) Second quarter 2024 results: EPS: RM0.012 (up from RM0.001 loss in 2Q 2023). Revenue: RM429.9m (up 11% from 2Q 2023). Net income: RM31.3m (up RM34.6m from 2Q 2023). Profit margin: 7.3% (up from net loss in 2Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 148% Cash payout ratio: 133% Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 02
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to RM2.00, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 16x in the Medical Equipment industry in Asia. Total loss to shareholders of 22% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM1.78 per share. Upcoming Dividend • Jun 13
Upcoming dividend of RM0.02 per share Eligible shareholders must have bought the stock before 20 June 2024. Payment date: 18 July 2024. Trailing yield: 1.6%. Lower than top quartile of Malaysian dividend payers (4.5%). In line with average of industry peers (1.5%). Announcement • May 30
Kossan Rubber Industries Bhd Approves Final Single Tier Dividend for the Financial Year Ended 31 December 2023 Kossan Rubber Industries Bhd at its AGM held on May 30, 2024, approved a final single tier dividend of 2.0 sen per ordinary share for the financial year ended 31 December 2023. Price Target Changed • May 24
Price target increased by 14% to RM2.25 Up from RM1.98, the current price target is an average from 16 analysts. New target price is approximately in line with last closing price of RM2.35. Stock is up 62% over the past year. The company is forecast to post earnings per share of RM0.059 for next year compared to RM0.0052 last year. Reported Earnings • Apr 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: RM0.005 (down from RM0.062 in FY 2022). Revenue: RM1.59b (down 32% from FY 2022). Net income: RM13.3m (down 92% from FY 2022). Profit margin: 0.8% (down from 6.7% in FY 2022). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates by 70%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Announcement • Apr 26
Kossan Rubber Industries Bhd, Annual General Meeting, May 30, 2024 Kossan Rubber Industries Bhd, Annual General Meeting, May 30, 2024, at 10:30 Singapore Standard Time. Location: Training Centre, 2nd Floor, Kossan R&D Centre, PT 7836, Jalan Haji Abdul Manan/KU8, Kawasan Perindustrian Meru Selatan, 41050 Klang Malaysia Agenda: To receive the audited financial statements for the financial year ended 31 December 2023 together with the reports of the directors and auditors thereon; to approve a final single tier dividend of 2.0 sen per ordinary share for the financial year ended 31 December 2023; to approve the payment of Directors Fees of up to RMB 670,000 for the financial year ending 31 December 2024; to re-elect Tan Sri Dato' Lim Kuang Sia retiring pursuant to Article 86 of the company's Constitution; to re-elect Lim Siau Tian retiring pursuant to Article 86 of the company's Constitution; to re-elect Lim Siau Hing retiring pursuant to Article 86 of the company's Constitution; to approve Lee Choo Hock's continuation in office as Independent Non-Executive Director; to approve authority to allot shares pursuant to Sections 75 and 76 of the Companies Act 2016; and to discuss other matters. Announcement • Apr 19
Proposed Final Single Tier Dividend of 2.0 Sen Per Ordinary Share for the Financial Year Ended 31 December 2023 Kossan Rubber Industries Bhd Proposed Final Single Tier Dividend of 2.0 Sen Per Ordinary Share for the Financial Year Ended 31 December 2023. Ex-Date is 20 June 2024. Payment Date is 18 July 2024. Upcoming Dividend • Mar 06
Upcoming dividend of RM0.02 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 08 April 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 1.1%. Lower than top quartile of Malaysian dividend payers (4.8%). Lower than average of industry peers (1.6%). Price Target Changed • Feb 23
Price target increased by 7.5% to RM1.76 Up from RM1.64, the current price target is an average from 16 analysts. New target price is 10% below last closing price of RM1.96. Stock is up 85% over the past year. The company is forecast to post earnings per share of RM0.049 for next year compared to RM0.0056 last year. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: RM0.006 (vs RM0.062 in FY 2022) Full year 2023 results: EPS: RM0.006 (down from RM0.062 in FY 2022). Revenue: RM1.59b (down 32% from FY 2022). Net income: RM14.2m (down 91% from FY 2022). Profit margin: 0.9% (down from 6.7% in FY 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Price Target Changed • Feb 22
Price target increased by 8.2% to RM1.71 Up from RM1.58, the current price target is an average from 16 analysts. New target price is 16% below last closing price of RM2.02. Stock is up 87% over the past year. The company is forecast to post earnings per share of RM0.019 for next year compared to RM0.062 last year. Major Estimate Revision • Jan 06
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from RM0.016 to RM0.019. Revenue forecast steady at RM1.67b. Net income forecast to grow 903% next year vs 29% growth forecast for Medical Equipment industry in Malaysia. Consensus price target up from RM1.54 to RM1.62. Share price rose 6.5% to RM1.97 over the past week. Price Target Changed • Jan 05
Price target increased by 9.0% to RM1.62 Up from RM1.49, the current price target is an average from 16 analysts. New target price is 18% below last closing price of RM1.97. Stock is up 82% over the past year. The company is forecast to post earnings per share of RM0.018 for next year compared to RM0.062 last year. Major Estimate Revision • Dec 28
Consensus EPS estimates increase by 25% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from RM0.013 to RM0.016. Revenue forecast steady at RM1.67b. Net income forecast to grow 857% next year vs 29% growth forecast for Medical Equipment industry in Malaysia. Consensus price target up from RM1.49 to RM1.54. Share price rose 2.2% to RM1.84 over the past week. Price Target Changed • Dec 27
Price target increased by 8.2% to RM1.54 Up from RM1.43, the current price target is an average from 17 analysts. New target price is 17% below last closing price of RM1.85. Stock is up 68% over the past year. The company is forecast to post earnings per share of RM0.016 for next year compared to RM0.062 last year. Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: RM0.016 (vs RM0.009 in 3Q 2022) Third quarter 2023 results: EPS: RM0.016 (up from RM0.009 in 3Q 2022). Revenue: RM403.5m (down 28% from 3Q 2022). Net income: RM41.0m (up 76% from 3Q 2022). Profit margin: 10% (up from 4.1% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 17
Price target increased by 7.0% to RM1.20 Up from RM1.12, the current price target is an average from 17 analysts. New target price is 12% below last closing price of RM1.36. Stock is up 31% over the past year. The company is forecast to post a net loss per share of RM0.0055 compared to earnings per share of RM0.062 last year. Reported Earnings • Jul 28
Second quarter 2023 earnings released: RM0.001 loss per share (vs RM0.018 profit in 2Q 2022) Second quarter 2023 results: RM0.001 loss per share (down from RM0.018 profit in 2Q 2022). Revenue: RM387.5m (down 34% from 2Q 2022). Net loss: RM3.30m (down 107% from profit in 2Q 2022). Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has fallen by 46% per year, which means it is performing significantly worse than earnings. Reported Earnings • Apr 30
First quarter 2023 earnings released: RM0.01 loss per share (vs RM0.035 profit in 1Q 2022) First quarter 2023 results: RM0.01 loss per share (down from RM0.035 profit in 1Q 2022). Revenue: RM394.7m (down 43% from 1Q 2022). Net loss: RM24.3m (down 127% from profit in 1Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Apr 29
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from RM2.10b to RM1.84b. EPS estimate fell from RM0.019 to RM0.01 per share. Net income forecast to shrink 88% next year vs 25% growth forecast for Medical Equipment industry in Malaysia . Consensus price target broadly unchanged at RM1.11. Share price fell 3.1% to RM1.25 over the past week. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to RM1.30, the stock trades at a forward P/E ratio of 71x. Average forward P/E is 18x in the Medical Equipment industry in Asia. Total loss to shareholders of 30% over the past three years. Upcoming Dividend • Feb 28
Upcoming dividend of RM0.025 per share at 9.2% yield Eligible shareholders must have bought the stock before 07 March 2023. Payment date: 22 March 2023. Payout ratio is a comfortable 41% but the company is not cash flow positive. Trailing yield: 9.2%. Within top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (1.5%). Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: RM0.061 (vs RM1.12 in FY 2021) Full year 2022 results: EPS: RM0.061 (down from RM1.12 in FY 2021). Revenue: RM2.32b (down 65% from FY 2021). Net income: RM156.6m (down 95% from FY 2021). Profit margin: 6.8% (down from 43% in FY 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Asia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Feb 17
Kossan Rubber Industries Bhd Announces Interim Single Tier Tax Exempt Dividend for the Financial Year Ended 31 December 2022, Payable on March 22, 2023 Kossan Rubber Industries Bhd announced interim single tier tax exempt dividend of 2.5 sen per ordinary share for the financial year ended 31 December 2022. Ex-date is March 07, 2023. Entitlement date is March 08, 2023. Payment date is March 22, 2023. Price Target Changed • Nov 16
Price target decreased to RM1.18 Down from RM1.29, the current price target is an average from 17 analysts. New target price is approximately in line with last closing price of RM1.13. Stock is down 45% over the past year. The company is forecast to post earnings per share of RM0.067 for next year compared to RM1.12 last year. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 6 highly experienced directors. Independent & Non Executive Director Shanthy Sharon was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Nov 07
Price target decreased to RM1.18 Down from RM1.29, the current price target is an average from 17 analysts. New target price is 6.6% above last closing price of RM1.11. Stock is down 52% over the past year. The company is forecast to post earnings per share of RM0.067 for next year compared to RM1.12 last year. Reported Earnings • Nov 03
Third quarter 2022 earnings released: EPS: RM0.009 (vs RM0.21 in 3Q 2021) Third quarter 2022 results: EPS: RM0.009 (down from RM0.21 in 3Q 2021). Revenue: RM560.5m (down 57% from 3Q 2021). Net income: RM23.3m (down 96% from 3Q 2021). Profit margin: 4.1% (down from 41% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Medical Equipment industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings.