Upcoming Dividend • Jun 12
Upcoming dividend of RM0.21 per share Eligible shareholders must have bought the stock before 19 June 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 12%. Within top quartile of Malaysian dividend payers (5.3%). Higher than average of industry peers (9.2%). Annonce • Jun 04
Mbm Resources Berhad Approves Single Tier Final Dividend for the Financial Year Ended 31 December 2025 MBM Resources Berhad at its AGM held on 4th June 2026 approved single tier final dividend of 21 sen per ordinary share for the financial year ended 31 December 2025. Reported Earnings • May 26
First quarter 2026 earnings released: EPS: RM0.16 (vs RM0.18 in 1Q 2025) First quarter 2026 results: EPS: RM0.16 (down from RM0.18 in 1Q 2025). Revenue: RM543.7m (down 5.3% from 1Q 2025). Net income: RM63.5m (down 11% from 1Q 2025). Profit margin: 12% (in line with 1Q 2025). Revenue is forecast to stay flat during the next 3 years compared to a 12% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 01
Dividend increased to RM0.21 Dividend of RM0.21 is 133% higher than last year. Ex-date: 19th June 2026 Payment date: 30th June 2026 Dividend yield will be 12%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (dividend approximately 18x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 4.9% over the next 3 years. However, it would need to fall by 70% to increase the payout ratio to a potentially unsustainable range. Annonce • Apr 29
MBM Resources Berhad, Annual General Meeting, Jun 04, 2026 MBM Resources Berhad, Annual General Meeting, Jun 04, 2026, at 10:00 Singapore Standard Time. Location: ballroom 1 of klgcc convention centre, (formerly known as sime darby convention centre), 1a, jalan bukit kiara 1, 6000 kuala lumpur, w.p. kuala lumpur, Malaysia New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 18x cash flows per share). Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.87 (vs RM0.85 in FY 2024) Full year 2025 results: EPS: RM0.87 (up from RM0.85 in FY 2024). Revenue: RM2.55b (up 2.6% from FY 2024). Net income: RM339.1m (up 1.7% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue is forecast to stay flat during the next 2 years compared to a 14% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 9% per year and the company’s share price has also increased by 9% per year. Board Change • Feb 02
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. Independent & Non Executive Director Min Chin was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 28
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 16x cash flows per share). Declared Dividend • Nov 28
Dividend of RM0.17 announced Shareholders will receive a dividend of RM0.17. Ex-date: 10th December 2025 Payment date: 24th December 2025 Dividend yield will be 8.8%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (27% earnings payout ratio) but not covered by cash flows (dividend approximately 16x free cash flows). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 2 years, which should provide adequate earnings cover for the dividend. Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: RM0.24 (vs RM0.22 in 3Q 2024) Third quarter 2025 results: EPS: RM0.24 (up from RM0.22 in 3Q 2024). Revenue: RM635.9m (flat on 3Q 2024). Net income: RM94.5m (up 8.1% from 3Q 2024). Profit margin: 15% (up from 14% in 3Q 2024). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Sep 13
Upcoming dividend of RM0.22 per share Eligible shareholders must have bought the stock before 17 September 2025. Payment date: 29 September 2025. Payout ratio is a comfortable 27% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of Malaysian dividend payers (5.6%). Higher than average of industry peers (2.4%). Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: RM0.19 (vs RM0.17 in 2Q 2024) Second quarter 2025 results: EPS: RM0.19 (up from RM0.17 in 2Q 2024). Revenue: RM602.2m (up 5.8% from 2Q 2024). Net income: RM72.5m (up 7.2% from 2Q 2024). Profit margin: 12% (in line with 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 16% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Aug 30
Dividend increased to RM0.22 Dividend of RM0.22 is 38% higher than last year. Ex-date: 17th September 2025 Payment date: 29th September 2025 Dividend yield will be 12%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not covered by cash flows (437% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.0% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Jun 06
Upcoming dividend of RM0.09 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 26% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of Malaysian dividend payers (5.6%). Higher than average of industry peers (8.3%). Annonce • May 29
MBM Resources Berhad Approves Single Tier Final Dividend for the Financial Year Ended 31 December 2024 MBM Resources Berhad at its AGM held on May 29, 2025 approved to declare a single tier final dividend of 9.0 sen per ordinary share for the financial year ended 31 December 2024. Reported Earnings • May 04
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: RM0.85 (up from RM0.85 in FY 2023). Revenue: RM2.49b (up 2.9% from FY 2023). Net income: RM333.0m (flat on FY 2023). Profit margin: 13% (in line with FY 2023). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 7.6%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 20% per year. Declared Dividend • May 01
Dividend reduced to RM0.09 Dividend of RM0.09 is 40% lower than last year. Ex-date: 13th June 2025 Payment date: 26th June 2025 Dividend yield will be 9.5%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (286% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.0% over the next 3 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. Annonce • Apr 29
MBM Resources Berhad, Annual General Meeting, May 29, 2025 MBM Resources Berhad, Annual General Meeting, May 29, 2025, at 10:00 Singapore Standard Time. Location: mutiara ballroom of royale chulan damansara hotel, no. 2, jalan pju 7/3, mutiara damansara, 47810 petaling jaya, selangor darul ehsan, Malaysia Annonce • Apr 16
MBM Resources Berhad Proposes Single Tier Final Dividend for the Financial Year Ended 31 December 2024 The Board of Directors of MBM Resources Berhad announced that the Company is proposing a single tier final dividend of 9.0 sen per ordinary share in respect of the financial year ended 31 December 2024, subject to the shareholders' approval at the forthcoming Thirty-First Annual General Meeting. The dividend entitlement date and payment date will be announced later. Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: RM0.85 (vs RM0.85 in FY 2023) Full year 2024 results: EPS: RM0.85 (up from RM0.85 in FY 2023). Revenue: RM2.49b (up 2.9% from FY 2023). Net income: RM333.0m (flat on FY 2023). Profit margin: 13% (in line with FY 2023). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 18% per year. Major Estimate Revision • Dec 02
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from RM2.36b to RM2.42b. EPS estimate increased from RM0.716 to RM0.791 per share. Net income forecast to shrink 7.6% next year vs 17% growth forecast for Retail Distributors industry in Malaysia . Consensus price target up from RM5.63 to RM6.34. Share price rose 5.7% to RM6.72 over the past week. Declared Dividend • Nov 27
Dividend of RM0.29 announced Shareholders will receive a dividend of RM0.29. Ex-date: 9th December 2024 Payment date: 20th December 2024 Dividend yield will be 9.1%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but not covered by cash flows (dividend approximately 221x free cash flows). The dividend has increased by an average of 94% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 2.8% over the next 2 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. Price Target Changed • Nov 26
Price target increased by 11% to RM6.23 Up from RM5.61, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of RM6.44. Stock is up 45% over the past year. The company is forecast to post earnings per share of RM0.78 for next year compared to RM0.85 last year. Reported Earnings • Nov 26
Third quarter 2024 earnings released: EPS: RM0.22 (vs RM0.27 in 3Q 2023) Third quarter 2024 results: EPS: RM0.22 (down from RM0.27 in 3Q 2023). Revenue: RM638.4m (up 2.8% from 3Q 2023). Net income: RM87.4m (down 17% from 3Q 2023). Profit margin: 14% (down from 17% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Retail Distributors industry in Asia are expected to grow by 13%. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 27% per year. Annonce • Sep 06
MBM Resources Berhad Announces Resignation of WONG PEIR CHYUN as Company Secretary MBM Resources Berhad Announced the resignation of WONG PEIR CHYUN as Company Secretary. Date Of Change is on 03 September 2024. Price Target Changed • Aug 30
Price target increased by 7.8% to RM5.61 Up from RM5.21, the current price target is an average from 10 analysts. New target price is 6.1% below last closing price of RM5.98. Stock is up 44% over the past year. The company is forecast to post earnings per share of RM0.72 for next year compared to RM0.85 last year. Declared Dividend • Aug 30
Dividend of RM0.16 announced Shareholders will receive a dividend of RM0.16. Ex-date: 11th September 2024 Payment date: 26th September 2024 Dividend yield will be 7.4%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but not covered by cash flows (dividend approximately 9x free cash flows). The dividend has increased by an average of 25% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 19% over the next 3 years. However, it would need to fall by 74% to increase the payout ratio to a potentially unsustainable range. Price Target Changed • Aug 29
Price target increased by 7.6% to RM5.51 Up from RM5.12, the current price target is an average from 10 analysts. New target price is 6.6% below last closing price of RM5.90. Stock is up 42% over the past year. The company is forecast to post earnings per share of RM0.70 for next year compared to RM0.85 last year. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0.17 (vs RM0.13 in 2Q 2023) Second quarter 2024 results: EPS: RM0.17 (up from RM0.13 in 2Q 2023). Revenue: RM569.2m (up 5.5% from 2Q 2023). Net income: RM67.6m (up 30% from 2Q 2023). Profit margin: 12% (up from 9.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 14% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 22% per year and the company’s share price has also increased by 22% per year. Annonce • Aug 28
MBM Resources Berhad Declares Special Dividend for the Year Ending 31 December 2024, Payable on September 26, 2024 MBM Resources Berhad declared Special dividend of 10.0 sen per ordinary share tax exempted under the single-tier system in respect of the financial year ending 31 December 2024. Ex-Date: September 11, 2024. Entitlement date: September 12, 2024. Payment Date: September 26, 2024. Price Target Changed • Jun 13
Price target increased by 10% to RM5.07 Up from RM4.59, the current price target is an average from 10 analysts. New target price is 5.9% below last closing price of RM5.39. Stock is up 52% over the past year. The company is forecast to post earnings per share of RM0.68 for next year compared to RM0.85 last year. Upcoming Dividend • Jun 07
Upcoming dividend of RM0.15 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 32% but the company is paying out more than the cash it is generating. Trailing yield: 9.9%. Within top quartile of Malaysian dividend payers (4.4%). Higher than average of industry peers (3.0%). Annonce • May 31
MBM Resources Berhad Approves Single Tier Final Dividend for the Financial Year Ended 31 December 2023 MBM Resources Berhad announced that at the Annual General Meeting 30 May 2024 approved a single tier final dividend of 15.0 sen per ordinary share for the financial year ended 31 December 2023. Price Target Changed • May 28
Price target increased by 7.7% to RM4.73 Up from RM4.39, the current price target is an average from 10 analysts. New target price is 6.4% below last closing price of RM5.05. Stock is up 43% over the past year. The company is forecast to post earnings per share of RM0.68 for next year compared to RM0.85 last year. Annonce • May 01
MBM Resources Berhad, Annual General Meeting, May 30, 2024 MBM Resources Berhad, Annual General Meeting, May 30, 2024, at 14:00 Singapore Standard Time. Location: 23-01, Level 23, Menara MBMR, 1 Jalan Syed Putra, 58000 Kuala Lumpur Kuala Lumpur Malaysia Declared Dividend • May 01
Dividend increased to RM0.15 Dividend of RM0.15 is 150% higher than last year. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 11%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (24% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 28% over the next 3 years. However, it would need to fall by 73% to increase the payout ratio to a potentially unsustainable range. Annonce • Apr 20
MBM Resources Berhad Proposes Final Dividend for the Financial Year Ended 31 December 2023 The Board of Directors of MBM Resources Berhad announced that the Company is proposing a single tier final dividend of 15.0 sen per ordinary share in respect of the financial year ended 31 December 2023, subject to the shareholders' approval at the forthcoming Thirtieth Annual General Meeting. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: RM0.86 (vs RM0.68 in FY 2022) Full year 2023 results: EPS: RM0.86 (up from RM0.68 in FY 2022). Revenue: RM2.42b (up 4.7% from FY 2022). Net income: RM334.5m (up 25% from FY 2022). Profit margin: 14% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.7% p.a. on average during the next 3 years, while revenues in the Retail Distributors industry in Asia are expected to grow by 10%. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 01
Upcoming dividend of RM0.13 per share at 12% yield Eligible shareholders must have bought the stock before 08 December 2023. Payment date: 22 December 2023. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 12%. Within top quartile of Malaysian dividend payers (5.1%). Higher than average of industry peers (2.4%). Reported Earnings • Nov 25
Third quarter 2023 earnings released: EPS: RM0.27 (vs RM0.15 in 3Q 2022) Third quarter 2023 results: EPS: RM0.27 (up from RM0.15 in 3Q 2022). Revenue: RM621.3m (flat on 3Q 2022). Net income: RM104.8m (up 74% from 3Q 2022). Profit margin: 17% (up from 9.7% in 3Q 2022). Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Retail Distributors industry in Asia are expected to grow by 11%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 31
Upcoming dividend of RM0.26 per share at 13% yield Eligible shareholders must have bought the stock before 07 September 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 28% but the company is paying out more than the cash it is generating. Trailing yield: 13%. Within top quartile of Malaysian dividend payers (5.1%). In line with average of industry peers (12%). Annonce • Aug 25
MBM Resources Berhad Announces Resignation of Encik Muhammad Fateh Teh Bin Abdullah as Group Chief Executive Officer MBM Resources Berhad announced resignation of Encik Muhammad Fateh Teh Bin Abdullah, age 53, as Group Chief Executive Officer to pursue other interest. Date of change: 24 Aug. 2023. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: RM0.13 (vs RM0.17 in 2Q 2022) Second quarter 2023 results: EPS: RM0.13 (down from RM0.17 in 2Q 2022). Revenue: RM539.6m (down 3.1% from 2Q 2022). Net income: RM51.9m (down 21% from 2Q 2022). Profit margin: 9.6% (down from 12% in 2Q 2022). Revenue is expected to decline by 1.4% p.a. on average during the next 3 years, while revenues in the Retail Distributors industry in Asia are expected to grow by 9.8%. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Annonce • Jun 15
MBM Resources Berhad Announces Redesignation of Low Hin Choong from Non Executive Director to Executive Director MBM Resources Berhad announced redesignation of Low Hin Choong from Non Executive Director to Executive Director. His age is 62 and nationality is Malaysia. Date of change is 14 Jun 2023. Upcoming Dividend • Jun 09
Upcoming dividend of RM0.06 per share at 11% yield Eligible shareholders must have bought the stock before 16 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 18% but the company is paying out more than the cash it is generating. Trailing yield: 11%. Within top quartile of Malaysian dividend payers (5.4%). In line with average of industry peers (9.9%). Annonce • Jun 02
MBM Resources Berhad Approves Single Tier Final Dividend for the Financial Year Ended 31 December 2022 MBM Resources Berhad at the AGM held on 01 June 2023, approved to declare a single tier final dividend of 6.0 sen per ordinary share for the financial year ended 31 December 2022. Price Target Changed • Jun 02
Price target decreased by 8.0% to RM4.37 Down from RM4.75, the current price target is an average from 9 analysts. New target price is 23% above last closing price of RM3.55. Stock is up 6.9% over the past year. The company is forecast to post earnings per share of RM0.66 for next year compared to RM0.68 last year. Reported Earnings • May 04
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: RM0.68 (up from RM0.44 in FY 2021). Revenue: RM2.31b (up 51% from FY 2021). Net income: RM267.4m (up 56% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to stay flat during the next 3 years compared to a 9.4% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 27
Upcoming dividend of RM0.21 per share at 9.5% yield Eligible shareholders must have bought the stock before 06 March 2023. Payment date: 21 March 2023. Payout ratio is a comfortable 17% but the company is paying out more than the cash it is generating. Trailing yield: 9.5%. Within top quartile of Malaysian dividend payers (5.1%). In line with average of industry peers (9.3%). Price Target Changed • Feb 22
Price target increased by 8.6% to RM4.58 Up from RM4.21, the current price target is an average from 9 analysts. New target price is 18% above last closing price of RM3.87. Stock is up 25% over the past year. The company is forecast to post earnings per share of RM0.66 for next year compared to RM0.69 last year. Reported Earnings • Feb 21
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: RM0.69 (up from RM0.44 in FY 2021). Revenue: RM2.31b (up 51% from FY 2021). Net income: RM268.6m (up 57% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Retail Distributors industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 25
Third quarter 2022 earnings released Third quarter 2022 results: Revenue: RM621.2m (up 169% from 3Q 2021). Net income: RM60.2m (up RM65.5m from 3Q 2021). Profit margin: 9.7% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Retail Distributors 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 5% per year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Non Independent Non Executive Director Fay Wong was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 01
Upcoming dividend of RM0.16 per share Eligible shareholders must have bought the stock before 08 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 7.8%. Within top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (5.8%). Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: RM0.17 (vs RM0.043 in 2Q 2021) Second quarter 2022 results: EPS: RM0.17 (up from RM0.043 in 2Q 2021). Revenue: RM557.0m (up 74% from 2Q 2021). Net income: RM66.0m (up 296% from 2Q 2021). Profit margin: 12% (up from 5.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 6.8%, compared to a 20% growth forecast for the Retail Distributors industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 6% per year. Annonce • Aug 11
MBM Resources Berhad Appoints Ng Seng Kong as Non Independent and Non Executive Member of Audit Committee MBM Resources Berhad announced appointment of Ng Seng Kong as Non Independent and Non Executive Member of Audit Committee. The date of change is August 10, 2022. Age: 68. Gender: Male. Nationality: Malaysia. Composition of Audit Committee (Name and Directorate of members after change): Dato Anwar Bin Haji @ Aji (Chairman) - Senior Independent Non-Executive Director; Datuk (Dr) Aminar Rashid Bin Salleh (Member) - Independent Non-Executive Chairman; and Ng Seng Kong (Member) - Non-Independent Non-Executive Director. Buying Opportunity • Jun 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 5.7%. The fair value is estimated to be RM3.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 9.0% over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 25% in 2 years. Earnings is forecast to grow by 6.0% in the next 2 years.