Why Investors Shouldn't Be Surprised By Mesiniaga Berhad's (KLSE:MSNIAGA) Low P/S
Jan 16
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Malaysian (KLSE) IT Industry Analysis
UpdatedJan 23, 2026
DataAggregated Company Financials
Companies28
- 7D0.2%
- 3M-30.0%
- 1Y-39.7%
- YTD2.1%
Last week, the IT industry hasn't moved much but Infomina Berhad is up 5.8% in that time. As for the longer term, the industry has declined 39% in the last year. Looking forward, earnings are forecast to grow by 12% annually.
Industry Valuation and Performance
Has the Malaysian IT Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 23 Jan 2026 | RM 4.6b | RM 3.6b | RM 247.1m | 15.5x | 18.5x | 1.3x |
| Sun, 21 Dec 2025 | RM 4.6b | RM 3.6b | RM 244.3m | 15.3x | 19x | 1.3x |
| Tue, 18 Nov 2025 | RM 4.8b | RM 3.2b | RM 104.4m | 16.7x | 46.2x | 1.5x |
| Thu, 16 Oct 2025 | RM 6.9b | RM 3.2b | RM 105.8m | 18.4x | 65.3x | 2.2x |
| Sat, 13 Sep 2025 | RM 6.6b | RM 3.2b | RM 61.5m | 15.9x | 107.4x | 2.1x |
| Mon, 11 Aug 2025 | RM 6.5b | RM 3.1b | RM 25.0m | 17.8x | 262.2x | 2.1x |
| Wed, 09 Jul 2025 | RM 5.9b | RM 2.8b | RM 46.3m | 17.7x | 127.2x | 2.1x |
| Fri, 06 Jun 2025 | RM 5.9b | RM 3.1b | RM 5.4m | 19.3x | 1087.1x | 1.9x |
| Sun, 04 May 2025 | RM 6.1b | RM 3.0b | -RM 3,197,447.00 | 19.6x | -1898.2x | 2x |
| Tue, 01 Apr 2025 | RM 6.0b | RM 3.0b | -RM 2,561,447.00 | 22.7x | -2340.2x | 2x |
| Thu, 27 Feb 2025 | RM 5.9b | RM 3.1b | RM 40.2m | 22.8x | 146.8x | 1.9x |
| Sat, 25 Jan 2025 | RM 6.6b | RM 3.1b | -RM 33,575,507.00 | 25.9x | -198x | 2.1x |
| Mon, 23 Dec 2024 | RM 6.8b | RM 3.1b | -RM 32,607,186.00 | 26.8x | -207.4x | 2.1x |
| Wed, 20 Nov 2024 | RM 6.8b | RM 3.2b | -RM 20,382,634.00 | 29.3x | -334.1x | 2.1x |
| Fri, 18 Oct 2024 | RM 6.6b | RM 3.1b | -RM 63,146,108.00 | 28.1x | -104.4x | 2.1x |
| Sun, 15 Sep 2024 | RM 6.2b | RM 3.1b | -RM 45,529,758.00 | 25.1x | -136.4x | 2x |
| Tue, 13 Aug 2024 | RM 6.7b | RM 3.1b | -RM 52,138,270.00 | 38.2x | -128.9x | 2.1x |
| Thu, 11 Jul 2024 | RM 6.8b | RM 3.1b | -RM 54,633,725.00 | 30.2x | -125.3x | 2.2x |
| Sat, 08 Jun 2024 | RM 5.9b | RM 3.2b | -RM 73,920,263.00 | 25.2x | -79.2x | 1.9x |
| Mon, 06 May 2024 | RM 5.3b | RM 3.1b | -RM 22,845,032.00 | 25.4x | -232.4x | 1.7x |
| Wed, 03 Apr 2024 | RM 5.0b | RM 3.2b | -RM 7,938,032.00 | 22.1x | -634.4x | 1.6x |
| Fri, 01 Mar 2024 | RM 5.0b | RM 3.3b | RM 29.1m | 19.4x | 171.5x | 1.5x |
| Sun, 28 Jan 2024 | RM 4.8b | RM 3.2b | -RM 2,338,481.00 | 17.5x | -2044.8x | 1.5x |
| Tue, 26 Dec 2023 | RM 4.9b | RM 3.2b | -RM 6,233,481.00 | 17.1x | -791.2x | 1.5x |
| Thu, 23 Nov 2023 | RM 5.0b | RM 3.1b | RM 11.1m | 20.2x | 453.3x | 1.6x |
| Sat, 21 Oct 2023 | RM 4.8b | RM 3.1b | RM 12.1m | 18.8x | 400.7x | 1.5x |
| Mon, 18 Sep 2023 | RM 4.9b | RM 3.1b | RM 10.6m | 19.3x | 460x | 1.6x |
| Wed, 16 Aug 2023 | RM 5.1b | RM 3.0b | RM 27.5m | 21.9x | 184.3x | 1.7x |
| Fri, 14 Jul 2023 | RM 5.0b | RM 3.0b | RM 5.8m | 22.5x | 861x | 1.7x |
| Sun, 11 Jun 2023 | RM 6.4b | RM 4.4b | -RM 5,076,724.00 | 21.2x | -1257.6x | 1.5x |
| Tue, 09 May 2023 | RM 6.2b | RM 4.3b | RM 359.0m | 19.2x | 17.3x | 1.4x |
| Thu, 06 Apr 2023 | RM 6.5b | RM 4.3b | RM 356.6m | 22.3x | 18.3x | 1.5x |
| Sat, 04 Mar 2023 | RM 8.1b | RM 5.1b | RM 399.9m | 28.5x | 20.3x | 1.6x |
| Mon, 30 Jan 2023 | RM 15.6b | RM 5.7b | RM 773.4m | 30.6x | 20.2x | 2.7x |
Price to Earnings Ratio
20.2x
Current Industry PE
- Investors are pessimistic on the Malaysian IT 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 18.5x which is higher than its 3-year average PE of -13.6x.
- The 3-year average PS ratio of 1.8x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the IT industry have declined 32% per year over the last three years,
- Revenues have also declined 14% 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 Tech industry?
| MY Market | 0.035% | |
| Tech | 0.83% | |
| IT | 0.19% | |
| Data Processing Services | 8.63% | |
| IT Consulting | 0.44% | |
| Internet Services and Infrastructure | -6.98% | |
Industry PE
- Investors are most optimistic about the Data Processing Services industry which is trading above its 3-year average PE ratio of 19.4x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Internet Services and Infrastructure industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 12% over the next 5 years.
- However this is lower than its past earnings growth rate of 17% per year.
- In contrast, the IT Consulting industry is expected to see its earnings grow by 12% 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 | |
|---|---|---|---|---|---|
| INFOM Infomina Berhad | RM 1.46 | 5.8% +RM 48.1m | 14.1% | PE40.9x | |
| GOHUB Go Hub Capital Berhad | RM 0.65 | 11.2% +RM 26.0m | -45.8% | PE51.5x | |
| NEXG NEXG Berhad | RM 0.32 | 1.6% +RM 17.4m | -20.0% | PE7.2x | |
| MPAY ManagePay Systems Berhad | RM 0.07 | 7.7% +RM 5.2m | -26.3% | PS5.5x | |
| ICTZONE ICT Zone Asia Berhad | RM 0.18 | 2.9% +RM 4.0m | n/a | PE10.4x |
