TAFI Industries Berhad's (KLSE:TAFI) Promising Earnings May Rest On Soft Foundations
Sep 04
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Malaysian (KLSE) Commercial Services Industry Analysis
UpdatedOct 05, 2025
DataAggregated Company Financials
Companies31
- 7D2.8%
- 3M6.5%
- 1Y17.1%
- YTD1.0%
In the last week, the Commercial Services industry is up 2.8%, with Frontken Corporation Berhad up 4.3%. Meanwhile, PBS Berhad actually underperformed within the industry, shrinking 12% in the last week. In the last 12 months, the industry was up 17%. As for the next few years, earnings are expected to grow by 28% per annum.
Industry Valuation and Performance
Has the Malaysian Commercial Services Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 05 Oct 2025 | RM 13.6b | RM 3.6b | RM 178.9m | 15.9x | 76x | 3.8x |
| Tue, 02 Sep 2025 | RM 13.3b | RM 3.6b | RM 179.6m | 15.4x | 73.9x | 3.7x |
| Thu, 31 Jul 2025 | RM 11.8b | RM 3.4b | RM 161.4m | 15x | 73.3x | 3.5x |
| Sat, 28 Jun 2025 | RM 11.5b | RM 3.4b | RM 98.7m | 15.6x | 116.9x | 3.4x |
| Mon, 26 May 2025 | RM 11.7b | RM 3.5b | RM 143.3m | 14.9x | 81.9x | 3.4x |
| Wed, 23 Apr 2025 | RM 10.6b | RM 3.6b | RM 150.8m | 14.4x | 70x | 3x |
| Fri, 21 Mar 2025 | RM 11.6b | RM 3.6b | RM 113.2m | 15.7x | 102.6x | 3.3x |
| Sun, 16 Feb 2025 | RM 12.0b | RM 3.5b | RM 55.0m | 16.8x | 218.9x | 3.4x |
| Tue, 14 Jan 2025 | RM 12.6b | RM 3.5b | RM 55.6m | 17x | 227.6x | 3.6x |
| Thu, 12 Dec 2024 | RM 12.9b | RM 3.5b | RM 57.0m | 17.8x | 226.3x | 3.7x |
| Sat, 09 Nov 2024 | RM 12.3b | RM 3.5b | RM 61.8m | 16.9x | 199.7x | 3.5x |
| Mon, 07 Oct 2024 | RM 11.3b | RM 3.5b | RM 46.1m | 17.7x | 244.6x | 3.2x |
| Wed, 04 Sep 2024 | RM 11.7b | RM 3.4b | RM 81.3m | 17.7x | 144.1x | 3.4x |
| Fri, 02 Aug 2024 | RM 12.9b | RM 3.5b | RM 67.6m | 20.3x | 191.3x | 3.7x |
| Sun, 30 Jun 2024 | RM 13.3b | RM 3.5b | -RM 4,300,801.00 | 17.3x | -3082x | 3.8x |
| Tue, 28 May 2024 | RM 13.3b | RM 3.5b | RM 9.5m | 18x | 1394.9x | 3.8x |
| Thu, 25 Apr 2024 | RM 12.1b | RM 3.4b | -RM 2,926,012.00 | 18.8x | -4145.9x | 3.6x |
| Sat, 23 Mar 2024 | RM 12.1b | RM 3.4b | -RM 2,871,496.00 | 15.3x | -4202.3x | 3.6x |
| Mon, 19 Feb 2024 | RM 11.3b | RM 4.3b | RM 78.1m | 22.5x | 145.3x | 2.6x |
| Wed, 17 Jan 2024 | RM 11.2b | RM 4.5b | RM 44.5m | 21x | 251.1x | 2.5x |
| Fri, 15 Dec 2023 | RM 11.0b | RM 4.5b | RM 44.5m | 22x | 246.9x | 2.5x |
| Sun, 12 Nov 2023 | RM 11.0b | RM 4.6b | RM 94.9m | 21.1x | 116x | 2.4x |
| Tue, 10 Oct 2023 | RM 10.5b | RM 4.6b | RM 103.5m | 20.5x | 101.5x | 2.3x |
| Thu, 07 Sep 2023 | RM 10.9b | RM 4.6b | RM 105.4m | 21.4x | 103x | 2.4x |
| Sat, 05 Aug 2023 | RM 10.7b | RM 4.6b | RM 102.1m | 18.4x | 104.6x | 2.3x |
| Mon, 03 Jul 2023 | RM 10.0b | RM 4.6b | RM 298.7m | 18.3x | 33.5x | 2.2x |
| Wed, 31 May 2023 | RM 9.8b | RM 4.6b | RM 293.5m | 19.2x | 33.5x | 2.1x |
| Fri, 28 Apr 2023 | RM 9.9b | RM 4.6b | RM 308.1m | 15.4x | 32.2x | 2.2x |
| Sun, 26 Mar 2023 | RM 9.8b | RM 4.6b | RM 317.5m | 13.4x | 30.9x | 2.1x |
| Tue, 21 Feb 2023 | RM 11.1b | RM 4.6b | RM 381.4m | 16.7x | 29.1x | 2.4x |
| Thu, 19 Jan 2023 | RM 10.8b | RM 4.6b | RM 379.7m | 15x | 28.4x | 2.4x |
| Sat, 17 Dec 2022 | RM 10.3b | RM 4.6b | RM 399.5m | 14.6x | 25.7x | 2.2x |
| Mon, 14 Nov 2022 | RM 8.6b | RM 4.5b | RM 467.6m | 12.8x | 18.4x | 1.9x |
| Wed, 12 Oct 2022 | RM 7.9b | RM 4.5b | RM 460.2m | 12x | 17.2x | 1.8x |
Price to Earnings Ratio
17.2x
Current Industry PE
- Investors are optimistic on the Malaysian Commercial Services industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 76.0x which is higher than its 3-year average PE of -89.3x.
- The 3-year average PS ratio of 2.9x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
- The earnings for companies in the Commercial Services industry have declined 27% per year over the last three years,
- Revenues have also declined 7.0% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Malaysian Industrials industry?
| MY Market | 1.73% | |
| Industrials | 1.27% | |
| Commercial Services | 2.78% | |
| Diversified Support Services | 4.41% | |
| Environmental and Facilities Services | 1.85% | |
| Commercial Printing | 0.93% | |
| Office Services and Supplies | -0.31% | |
| Security and Alarm Services | -1.23% | |
Industry PE
- Investors are most optimistic about the Environmental and Facilities Services industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 51.5%, which is higher than its past year's earnings decline of 25.6% per year.
Forecasted Growth
- Analysts are most optimistic on the Office Services and Supplies industry, expecting annual earnings growth of 119% over the next 5 years.
- This is better than its past earnings growth rate of 19% per year.
- In contrast, the Diversified Support Services industry is expected to see its earnings grow by 19% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| FRONTKN Frontken Corporation Berhad | RM 4.39 | 4.3% +RM 287.1m | 24.4% | PE50.7x | |
| KJTS KJTS Group Berhad | RM 1.72 | 5.5% +RM 62.0m | 168.8% | PE85x | |
| MCLEAN MClean Technologies Berhad | RM 0.58 | 13.7% +RM 17.2m | 127.5% | PE13.1x | |
| JADI Jadi Imaging Holdings Berhad | RM 0.035 | 16.7% +RM 7.0m | -22.2% | PS9.1x | |
| MTAG MTAG Group Berhad | RM 0.31 | 3.3% +RM 6.8m | -12.7% | PE17x |