Declared Dividend • May 25
First quarter dividend of RM0.0025 announced Shareholders will receive a dividend of RM0.0025. Ex-date: 11th June 2026 Payment date: 30th June 2026 Dividend yield will be 5.1%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (55% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 23
First quarter 2026 earnings released: EPS: RM0.005 (vs RM0.005 in 1Q 2025) First quarter 2026 results: EPS: RM0.005 (in line with 1Q 2025). Revenue: RM119.2m (up 13% from 1Q 2025). Net income: RM9.00m (down 14% from 1Q 2025). Profit margin: 7.6% (down from 10.0% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Water Utilities 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 • Apr 30
Taliworks Corporation Berhad, Annual General Meeting, Jun 10, 2026 Taliworks Corporation Berhad, Annual General Meeting, Jun 10, 2026, at 14:00 Singapore Standard Time. Location: grand ballroom, level 1, m world hotel petaling jaya, persiaran bandar utama, bandar utama, 47800 petaling jaya, selangor, Malaysia Buy Or Sell Opportunity • Feb 24
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to RM0.45. The fair value is estimated to be RM0.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Declared Dividend • Feb 13
Fourth quarter dividend of RM0.0075 announced Shareholders will receive a dividend of RM0.0075. Ex-date: 3rd March 2026 Payment date: 31st March 2026 Dividend yield will be 4.9%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (54% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Price Target Changed • Feb 12
Price target decreased by 10% to RM0.88 Down from RM0.98, the current price target is provided by 1 analyst. New target price is 91% above last closing price of RM0.46. Stock is down 39% over the past year. The company is forecast to post earnings per share of RM0.04 for next year compared to RM0.036 last year. New Risk • Nov 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Declared Dividend • Nov 21
Third quarter dividend of RM0.005 announced Shareholders will receive a dividend of RM0.005. Ex-date: 4th December 2025 Payment date: 24th December 2025 Dividend yield will be 3.7%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (106% earnings payout ratio). However, it is covered by cash flows (61% cash payout ratio). The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 17% to bring the payout ratio under control. EPS is expected to grow by 20% over the next 2 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: RM0.022 (vs RM0.012 in 3Q 2024) Third quarter 2025 results: EPS: RM0.022 (up from RM0.012 in 3Q 2024). Revenue: RM110.8m (down 30% from 3Q 2024). Net income: RM45.0m (up 86% from 3Q 2024). Profit margin: 41% (up from 15% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 29
Second quarter 2025 earnings released: EPS: RM0.007 (vs RM0.008 in 2Q 2024) Second quarter 2025 results: EPS: RM0.007 (down from RM0.008 in 2Q 2024). Revenue: RM113.3m (up 14% from 2Q 2024). Net income: RM13.4m (down 21% from 2Q 2024). Profit margin: 12% (down from 17% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 26
Consensus revenue estimates fall by 16% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM710.0m to RM595.0m. EPS estimate fell from RM0.05 to RM0.04 per share. Net income forecast to grow 26% next year vs 12% growth forecast for Water Utilities industry in Malaysia. Consensus price target up from RM0.98 to RM1.01. Share price fell 6.6% to RM0.64 over the past week. Reported Earnings • May 21
First quarter 2025 earnings released: EPS: RM0.005 (vs RM0.007 in 1Q 2024) First quarter 2025 results: EPS: RM0.005 (down from RM0.007 in 1Q 2024). Revenue: RM105.3m (up 13% from 1Q 2024). Net income: RM10.5m (down 30% from 1Q 2024). Profit margin: 10.0% (down from 16% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Announcement • May 21
Taliworks Corporation Berhad Announces First Interim Single-Tier Dividend for the Financial Year Ending 31 December 2025, Payable on 30 June 2025 Taliworks Corporation Berhad announced First interim single-tier dividend of 0.5 sen per share on 2,015,817,574 ordinary shares in respect of the financial year ending 31 December 2025. The above Company's securities will be traded and quoted "Ex - Dividend” as from: 03 June 2025. The last date of lodgment: 04 June 2025. Date Payable: 30 June 2025. Announcement • Apr 28
Taliworks Corporation Berhad, Annual General Meeting, Jun 12, 2025 Taliworks Corporation Berhad, Annual General Meeting, Jun 12, 2025, at 14:30 Singapore Standard Time. Location: grand ballroom, level 1, m world hotel petaling jaya, (formerly known as avante hotel), persiaran bandar utama, bandar utama, 47800 petaling jaya, selangor, Malaysia Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: RM0.036 (vs RM0.021 in FY 2023) Full year 2024 results: EPS: RM0.036 (up from RM0.021 in FY 2023). Revenue: RM451.4m (up 21% from FY 2023). Net income: RM73.1m (up 74% from FY 2023). Profit margin: 16% (up from 11% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 8% per year and the company’s share price has also fallen by 8% per year. Declared Dividend • Mar 01
Fourth quarter dividend of RM0.005 announced Shareholders will receive a dividend of RM0.005. Ex-date: 13th March 2025 Payment date: 28th March 2025 Dividend yield will be 6.2%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (160% earnings payout ratio). However, it is covered by cash flows (54% cash payout ratio). The dividend has increased by an average of 32% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 78% to bring the payout ratio under control. EPS is expected to grow by 32% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Mar 01
Taliworks Corporation Berhad Announces Fourth Interim Dividend in Respect of the Financial Year Ended 31 December 2024, Payable on 28 March 2025 Taliworks Corporation Berhad announced a fourth interim single-tier dividend of 0.5 sen per ordinary share amounting to approximately MYR 10.079 million in respect of the financial year ended 31 December 2024, to be paid on 28 March 2025 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 14 March 2025. Price Target Changed • Feb 14
Price target increased by 7.7% to RM0.98 Up from RM0.91, the current price target is provided by 1 analyst. New target price is 29% above last closing price of RM0.76. Stock is down 14% over the past year. The company is forecast to post earnings per share of RM0.03 for next year compared to RM0.021 last year. Buy Or Sell Opportunity • Jan 13
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at RM0.78. The fair value is estimated to be RM0.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Nov 27
Taliworks Corporation Berhad Announces A Third Interim Single-Tier Dividend in Respect of the Financial Year Ending 31 December 2024, Payable on 23 December 2024 Taliworks Corporation Berhad announced a third interim single-tier dividend of 2 sen per ordinary share amounting to approximately MYR 40.316 million in respect of the financial year ending 31 December 2024, to be paid on 23 December 2024 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 11 December 2024. Declared Dividend • Nov 27
Third quarter dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 10th December 2024 Payment date: 23rd December 2024 Dividend yield will be 6.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (191% earnings payout ratio). However, it is covered by cash flows (81% cash payout ratio). The dividend has increased by an average of 32% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 113% to bring the payout ratio under control. EPS is expected to grow by 39% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 26
Third quarter 2024 earnings released: EPS: RM0.012 (vs RM0.007 in 3Q 2023) Third quarter 2024 results: EPS: RM0.012 (up from RM0.007 in 3Q 2023). Revenue: RM158.0m (up 74% from 3Q 2023). Net income: RM24.3m (up 79% from 3Q 2023). Profit margin: 15% (in line with 3Q 2023). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Declared Dividend • Aug 28
Second quarter dividend of RM0.01 announced Shareholders will receive a dividend of RM0.01. Ex-date: 10th September 2024 Payment date: 27th September 2024 Dividend yield will be 5.9%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (230% earnings payout ratio). However, it is covered by cash flows (81% cash payout ratio). The dividend has increased by an average of 32% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 155% to bring the payout ratio under control. EPS is expected to grow by 80% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: RM0.008 (vs RM0.006 in 2Q 2023) Second quarter 2024 results: EPS: RM0.008 (up from RM0.006 in 2Q 2023). Revenue: RM99.0m (up 11% from 2Q 2023). Net income: RM17.0m (up 44% from 2Q 2023). Profit margin: 17% (up from 13% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Price Target Changed • Aug 27
Price target decreased by 11% to RM0.81 Down from RM0.91, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of RM0.79. Stock is down 2.5% over the past year. The company is forecast to post earnings per share of RM0.033 for next year compared to RM0.021 last year. Announcement • Aug 26
Taliworks Corporation Berhad Announces Second Interim Dividend, Payable on 27 September 2024 Taliworks Corporation Berhad announced a second interim single-tier dividend of 1 sen per ordinary share amounting to approximately RMB 20.158 million in respect of the financial year ending 31 December 2024, to be paid on 27 September 2024 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 11 September 2024. Announcement • Aug 15
Taliworks Corporation Berhad Announces the Appointment of Datin Lim Ai Ling as Member of Audit Committee Taliworks Corporation Berhad announced the appointment of DATIN LIM AI LING as Member of Audit Committee, effective 15 August 2024. Age is 47. Directorate: Non Independent and Non Executive. Composition of Audit Committee (Name and Directorate of members after change): Chairperson - Datin Tam Poh Lin (Independent Non-Executive Director); Member - Datuk Tan Kor Mee (Independent Non-Executive Director) and Member - Datin Lim Ai Ling (Non-Independent Non-Executive Director). Major Estimate Revision • May 21
Consensus revenue estimates fall by 14% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM607.2m to RM522.2m. EPS estimate fell from RM0.039 to RM0.034 per share. Net income forecast to grow 58% next year vs 25% growth forecast for Water Utilities industry in Malaysia. Consensus price target broadly unchanged at RM0.90. Share price was steady at RM0.81 over the past week. Reported Earnings • May 16
First quarter 2024 earnings released: EPS: RM0.008 (vs RM0.005 in 1Q 2023) First quarter 2024 results: EPS: RM0.008 (up from RM0.005 in 1Q 2023). Revenue: RM93.3m (flat on 1Q 2023). Net income: RM15.0m (up 49% from 1Q 2023). Profit margin: 16% (up from 11% in 1Q 2023). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Declared Dividend • May 16
First quarter dividend of RM0.01 announced Shareholders will receive a dividend of RM0.01. Ex-date: 30th May 2024 Payment date: 28th June 2024 Dividend yield will be 6.5%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (255% earnings payout ratio). However, it is covered by cash flows (80% cash payout ratio). The dividend has increased by an average of 27% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 184% to bring the payout ratio under control. EPS is expected to grow by 104% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Apr 28
Taliworks Corporation Berhad, Annual General Meeting, Jun 13, 2024 Taliworks Corporation Berhad, Annual General Meeting, Jun 13, 2024, at 11:00 Singapore Standard Time. Location: Training Hall 1 & 2, Level 3, Menara LGB, No. 1 Jalan Wan Kadir Taman Tun Dr. Ismail, 60000 Kuala Lumpur Kuala Lumpur Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Reports of the Directors and the Auditors thereon; to consider and approve the approve the payment of Directors' fees with effect from 14 June 2024 until the next Annual General Meeting of the Company to be held in 2025; to consider and approve the approve the payment of Directors' benefits with effect from 14 June 2024 until the next Annual General Meeting of the Company to be held in 2025; and to consider other matters. Upcoming Dividend • Mar 07
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 29 March 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.3%. Within top quartile of Malaysian dividend payers (4.8%). In line with average of industry peers (5.1%). Declared Dividend • Feb 29
Fourth quarter dividend reduced to RM0.01 Dividend of RM0.01 is 39% lower than last year. Ex-date: 14th March 2024 Payment date: 29th March 2024 Dividend yield will be 7.7%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not covered by earnings (236% earnings payout ratio) nor is it covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 34% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 162% to bring the payout ratio under control. EPS is expected to grow by 63% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: RM0.021 (vs RM0.027 in FY 2022) Full year 2023 results: EPS: RM0.021 (down from RM0.027 in FY 2022). Revenue: RM374.7m (up 11% from FY 2022). Net income: RM42.0m (down 24% from FY 2022). Profit margin: 11% (down from 16% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Nov 30
Upcoming dividend of RM0.017 per share at 8.0% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 22 December 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 8.0%. Within top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (4.9%). Major Estimate Revision • Nov 29
Consensus EPS estimates fall by 15%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from RM412.0m to RM430.9m. EPS estimate fell from RM0.027 to RM0.023 per share. Net income forecast to grow 20% next year vs 14% growth forecast for Water Utilities industry in Malaysia. Consensus price target broadly unchanged at RM0.89. Share price fell 2.3% to RM0.83 over the past week. Announcement • Nov 23
Taliworks Corporation Berhad Announces Third Interim Single-Tier Dividend for the Financial Year Ending 31 December 2023, Payable on 22 December 2023 Taliworks Corporation Berhad announced a third interim single-tier dividend of 1.65 sen per ordinary share amounting to approximately MYR 33.261 million in respect of the financial year ending 31 December 2023, to be paid on 22 December 2023 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 8 December 2023. Ex-Date is 07 December 2023. Reported Earnings • Nov 23
Third quarter 2023 earnings released: EPS: RM0.007 (vs RM0.006 in 3Q 2022) Third quarter 2023 results: EPS: RM0.007 (up from RM0.006 in 3Q 2022). Revenue: RM90.7m (flat on 3Q 2022). Net income: RM13.5m (up 8.3% from 3Q 2022). Profit margin: 15% (up from 14% in 3Q 2022). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 2% per year. Upcoming Dividend • Aug 31
Upcoming dividend of RM0.017 per share at 8.1% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 29 September 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 8.1%. Within top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (4.3%). Major Estimate Revision • Aug 29
Consensus revenue estimates fall by 24% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from RM544.1m to RM412.0m. EPS estimate fell from RM0.031 to RM0.027 per share. Net income forecast to grow 15% next year vs 15% growth forecast for Water Utilities industry in Malaysia. Consensus price target down from RM0.93 to RM0.90. Share price was steady at RM0.81 over the past week. Announcement • Aug 23
Taliworks Corporation Berhad Announces Second Interim Single-Tier Dividend for the Financial Year Ending 31 December 2023, Payable on 29 September 2023 Taliworks Corporation Berhad announced second interim single-tier dividend of 1.65 sen per share on 2,015,817,574 ordinary shares in respect of the financial year ending 31 December 2023, payable on 29 September 2023. Entitlement date is 08 September 2023. Ex-date is 07 September 2023. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: RM0.006 (vs RM0.005 in 2Q 2022) Second quarter 2023 results: EPS: RM0.006 (up from RM0.005 in 2Q 2022). Revenue: RM89.0m (up 3.8% from 2Q 2022). Net income: RM11.8m (up 6.8% from 2Q 2022). Profit margin: 13% (in line with 2Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 2% per year. Upcoming Dividend • Jun 02
Upcoming dividend of RM0.017 per share at 7.9% yield Eligible shareholders must have bought the stock before 09 June 2023. Payment date: 30 June 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.9%. Within top quartile of Malaysian dividend payers (5.3%). Higher than average of industry peers (4.3%). Announcement • May 23
Taliworks Corporation Berhad Announces First Interim Dividend for Financial Year Ending 31 December 2023, to Be Paid on 30 June 2023 Taliworks Corporation Berhad announced a first interim single-tier dividend of 1.65 sen per ordinary share amounting to approximately MYR 33.26 million in respect of the financial year ending 31 December 2023, to be paid on 30 June 2023 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 12 June 2023. Ex-Date is June 9, 2023. Reported Earnings • May 23
First quarter 2023 earnings released: EPS: RM0.005 (vs RM0.005 in 1Q 2022) First quarter 2023 results: EPS: RM0.005 (in line with 1Q 2022). Revenue: RM93.5m (up 25% from 1Q 2022). Net income: RM10.1m (down 5.0% from 1Q 2022). Profit margin: 11% (down from 14% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Upcoming Dividend • Feb 23
Upcoming dividend of RM0.017 per share at 7.4% yield Eligible shareholders must have bought the stock before 02 March 2023. Payment date: 31 March 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (4.0%). Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: RM0.027 (vs RM0.039 in FY 2021) Full year 2022 results: EPS: RM0.027 (down from RM0.039 in FY 2021). Revenue: RM337.7m (up 12% from FY 2021). Net income: RM55.1m (down 30% from FY 2021). Profit margin: 16% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Announcement • Feb 17
Taliworks Corporation Berhad Announces Fourth Interim Single-Tier Dividend in Respect of the Financial Year Ended December 31, 2022, Payable on March 31, 2023 Taliworks Corporation Berhad announced fourth interim single-tier dividend of 1.65 sen per ordinary share in respect of the financial year ended December 31, 2022, to be paid on March 31, 2023. Ex-date: March 2, 2023. 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. 4 experienced directors. 3 highly experienced directors. Non Executive Independent Director Pauline Tam 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. Upcoming Dividend • Nov 29
Upcoming dividend of RM0.017 per share Eligible shareholders must have bought the stock before 06 December 2022. Payment date: 23 December 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (4.1%). Announcement • Nov 22
Taliworks Corporation Berhad Announces Third Interim Single-Tier Dividend for the Financial Year Ending 31 December 2022, Payable on 23 December 2022 Taliworks Corporation Berhad announced third interim single-tier dividend of 1.65 sen per ordinary share amounting to approximately RM33.26 million in respect of the financial year ending 31 December 2022, to be paid on 23 December 2022 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 7 December 2022. Reported Earnings • Nov 22
Third quarter 2022 earnings released: EPS: RM0.006 (vs RM0.021 in 3Q 2021) Third quarter 2022 results: EPS: RM0.006 (down from RM0.021 in 3Q 2021). Revenue: RM91.3m (down 11% from 3Q 2021). Net income: RM12.5m (down 70% from 3Q 2021). Profit margin: 14% (down from 40% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Water Utilities industry in Asia. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 01
Upcoming dividend of RM0.017 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 30 September 2022. The company is paying out more than 100% of its profits and is paying out 94% of its cash flow. Trailing yield: 7.1%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (4.2%). Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from RM477.3m to RM436.9m. EPS estimate also fell from RM0.04 per share to RM0.03 per share. Net income forecast to shrink 6.4% next year vs 13% growth forecast for Water Utilities industry in Malaysia . Consensus price target down from RM1.05 to RM1.02. Share price was steady at RM0.93 over the past week. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: RM0.006 (vs RM0.006 in 2Q 2021) Second quarter 2022 results: EPS: RM0.006 (vs RM0.006 in 2Q 2021). Revenue: RM85.7m (up 39% from 2Q 2021). Net income: RM11.0m (down 12% from 2Q 2021). Profit margin: 13% (down from 20% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 62%, compared to a 10% growth forecast for the Water Utilities industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 07
Upcoming dividend of RM0.017 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 30 June 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.0%. Within top quartile of Malaysian dividend payers (4.6%). Higher than average of industry peers (3.8%). Reported Earnings • May 28
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: EPS: RM0.005 (down from RM0.006 in 1Q 2021). Revenue: RM74.8m (up 14% from 1Q 2021). Net income: RM10.6m (down 15% from 1Q 2021). Profit margin: 14% (down from 19% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 64%, compared to a 8.7% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • May 27
Taliworks Corporation Berhad Announces First Interim Dividend for Financial Year Ending 31 December 2022 Taliworks Corporation Berhad announced first interim single-tier dividend of 1.65 sen per ordinary share amounting to approximately MYR 33.26 million in respect of the financial year ending 31 December 2022, to be paid on 30 June 2022 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on 15 June 2022. Upcoming Dividend • Mar 02
Upcoming dividend of RM0.017 per share Eligible shareholders must have bought the stock before 09 March 2022. Payment date: 25 March 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 7.1%. Within top quartile of Malaysian dividend payers (4.5%). Higher than average of industry peers (3.6%). Announcement • Feb 24
Taliworks Corporation Berhad Announces Fourth Interim Single-Tier Dividend in Respect of the Financial Year Ended December 31, 2021, Payable on March 25, 2022 Taliworks Corporation Berhad announce fourth interim single-tier dividend of 1.65 sen per ordinary share amounting to approximately MYR 33.3 million in respect of the financial year ended December 31, 2021, to be paid on March 25, 2022 to the shareholders of TCB whose names appear in the Register of Depositors of TCB on March 10, 2022. Reported Earnings • Feb 23
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: RM0.039 (up from RM0.03 in FY 2020). Revenue: RM302.3m (down 4.9% from FY 2020). Net income: RM78.5m (up 32% from FY 2020). Profit margin: 26% (up from 19% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 42%, compared to a 4.3% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. 
