Mah Sing Group Berhad's (KLSE:MAHSING) Intrinsic Value Is Potentially 25% Below Its Share Price
Jun 01
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Malaysian (KLSE) Real Estate Industry Analysis
UpdatedJun 04, 2025
DataAggregated Company Financials
Companies87
- 7D-0.3%
- 3M-0.2%
- 1Y-10.8%
- YTD-12.4%
The Real Estate is pretty flat in the last 7 days, but Eco World International Berhad has stood out, gaining 15%. As for the longer term, the industry has declined 11% in the last year. Looking forward, earnings are forecast to grow by 1.9% annually.
Industry Valuation and Performance
Has the Malaysian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 05 Jun 2025 | RM 80.4b | RM 45.1b | RM 7.0b | 11.5x | 11.5x | 1.8x |
| Sat, 03 May 2025 | RM 84.1b | RM 46.0b | RM 7.3b | 11.6x | 11.6x | 1.8x |
| Mon, 31 Mar 2025 | RM 85.1b | RM 45.8b | RM 7.2b | 11.5x | 11.8x | 1.9x |
| Wed, 26 Feb 2025 | RM 86.9b | RM 45.0b | RM 6.6b | 11.4x | 13.1x | 1.9x |
| Fri, 24 Jan 2025 | RM 90.7b | RM 44.8b | RM 6.6b | 13.2x | 13.8x | 2x |
| Sun, 22 Dec 2024 | RM 91.9b | RM 44.7b | RM 6.5b | 13x | 14.2x | 2.1x |
| Tue, 19 Nov 2024 | RM 89.0b | RM 44.6b | RM 6.6b | 13.3x | 13.5x | 2x |
| Thu, 17 Oct 2024 | RM 92.1b | RM 44.6b | RM 6.6b | 13.4x | 13.9x | 2.1x |
| Sat, 14 Sep 2024 | RM 86.7b | RM 44.3b | RM 6.4b | 13.1x | 13.5x | 2x |
| Mon, 12 Aug 2024 | RM 89.1b | RM 43.3b | RM 4.7b | 16.4x | 19.1x | 2.1x |
| Wed, 10 Jul 2024 | RM 91.5b | RM 43.1b | RM 4.6b | 16.5x | 19.9x | 2.1x |
| Fri, 07 Jun 2024 | RM 90.9b | RM 43.3b | RM 4.6b | 17.2x | 19.8x | 2.1x |
| Sun, 05 May 2024 | RM 82.9b | RM 40.9b | RM 4.1b | 15.4x | 20.4x | 2x |
| Tue, 02 Apr 2024 | RM 82.2b | RM 40.8b | RM 4.1b | 15.3x | 20.2x | 2x |
| Thu, 29 Feb 2024 | RM 75.0b | RM 40.9b | RM 4.4b | 13.4x | 17.2x | 1.8x |
| Sat, 27 Jan 2024 | RM 74.5b | RM 40.2b | RM 4.2b | 13.4x | 17.9x | 1.9x |
| Mon, 25 Dec 2023 | RM 70.1b | RM 40.2b | RM 4.1b | 12.6x | 17x | 1.7x |
| Wed, 22 Nov 2023 | RM 69.9b | RM 38.6b | RM 4.4b | 13.8x | 16x | 1.8x |
| Fri, 20 Oct 2023 | RM 68.9b | RM 38.5b | RM 4.3b | 13.9x | 15.9x | 1.8x |
| Sun, 17 Sep 2023 | RM 68.9b | RM 38.5b | RM 4.3b | 14.6x | 16x | 1.8x |
| Tue, 15 Aug 2023 | RM 64.2b | RM 37.5b | RM 4.1b | 12.8x | 15.6x | 1.7x |
| Thu, 13 Jul 2023 | RM 57.7b | RM 37.5b | RM 4.1b | 11.1x | 14x | 1.5x |
| Sat, 10 Jun 2023 | RM 54.8b | RM 36.6b | RM 3.8b | 10.8x | 14.3x | 1.5x |
| Mon, 08 May 2023 | RM 53.9b | RM 35.1b | RM 3.4b | 10.1x | 15.9x | 1.5x |
| Wed, 05 Apr 2023 | RM 54.1b | RM 35.1b | RM 3.2b | 10.4x | 16.9x | 1.5x |
| Fri, 03 Mar 2023 | RM 52.6b | RM 35.3b | RM 3.3b | 10.6x | 16.2x | 1.5x |
| Sun, 29 Jan 2023 | RM 52.6b | RM 34.7b | RM 3.2b | 10x | 16.3x | 1.5x |
| Tue, 27 Dec 2022 | RM 49.7b | RM 34.4b | RM 3.2b | 10.3x | 15.7x | 1.4x |
| Thu, 24 Nov 2022 | RM 47.9b | RM 32.5b | RM 2.4b | 10.2x | 20.2x | 1.5x |
| Sat, 22 Oct 2022 | RM 45.4b | RM 31.7b | RM 2.3b | 10.2x | 20.1x | 1.4x |
| Mon, 19 Sep 2022 | RM 48.9b | RM 31.6b | RM 2.5b | 11.9x | 19.5x | 1.5x |
| Wed, 17 Aug 2022 | RM 48.9b | RM 30.7b | RM 2.1b | 13.4x | 22.8x | 1.6x |
| Fri, 15 Jul 2022 | RM 45.4b | RM 30.8b | RM 2.2b | 13x | 21.1x | 1.5x |
| Sun, 12 Jun 2022 | RM 49.8b | RM 30.8b | RM 2.0b | 13.9x | 25.5x | 1.6x |
Price to Earnings Ratio
25.5x
Current Industry PE
- Investors are pessimistic on the Malaysian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 11.5x which is lower than its 3-year average PE of 16.8x.
- The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have grown 53% per year over the last three years.
- Revenues for these companies have grown 14% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Malaysian Real Estate industry?
| MY Market | -1.21% | |
| Real Estate | 0.39% | |
| Real Estate | -0.26% | |
| Diversified Real Estate | 1.31% | |
| Real Estate Development | -0.36% | |
| Real Estate Operating Companies | -17.03% | |
Industry PE
- Investors are most optimistic about the Diversified Real Estate industry even though it's trading below its 3-year average PE ratio of 20.5x.
- Analysts are expecting annual earnings growth of 8.0%, which is lower than the prior year's growth of 26.2% per year.
Forecasted Growth
- Analysts are most optimistic on the Diversified Real Estate industry, expecting annual earnings growth of 8.0% over the next 5 years.
- However this is lower than its past earnings growth rate of 26% per year.
- In contrast, the Real Estate Development industry is expected to see its earnings growth to stay flat 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 | |
|---|---|---|---|---|---|
| EWINT Eco World International Berhad | RM 0.34 | 15.0% +RM 108.0m | -11.5% | PS559.8x | |
| KSL KSL Holdings Berhad | RM 1.61 | 3.9% +RM 61.0m | -10.6% | PE3.9x | |
| UOADEV UOA Development Bhd | RM 1.80 | 1.1% +RM 52.5m | -8.2% | PE15.2x | |
| MATRIX Matrix Concepts Holdings Berhad | RM 1.40 | 1.4% +RM 37.5m | 16.7% | PE12.3x | |
| CVIEW Country View Berhad | RM 2.39 | 8.6% +RM 19.0m | 68.3% | PE4.6x |
