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Malaysian (KLSE) Utilities Sector Analysis

UpdatedApr 07, 2026
DataAggregated Company Financials
Companies14
  • 7D4.5%
  • 3M2.3%
  • 1Y9.9%
  • YTD1.4%

The Utilities industry is up 4.5% in the last week, with YTL Power International Berhad up 18%. During this same period, the Gas Malaysia Berhad underperformed, falling 6.8%. This means that the industry has gained 9.9% over the past year. Earnings are forecast to grow by 8.2% annually.

Sector Valuation and Performance

Has the Malaysian Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026RM 188.9bRM 142.8bRM 11.7b14.5x16.2x1.3x
Thu, 05 Mar 2026RM 177.9bRM 142.8bRM 11.7b13.8x15.3x1.2x
Sat, 31 Jan 2026RM 187.0bRM 144.4bRM 11.9b13.7x15.7x1.3x
Mon, 29 Dec 2025RM 186.7bRM 144.4bRM 11.9b13.7x15.6x1.3x
Wed, 26 Nov 2025RM 187.9bRM 145.5bRM 12.3b13.5x15.3x1.3x
Fri, 24 Oct 2025RM 193.8bRM 145.9bRM 12.0b15.6x16.1x1.3x
Sun, 21 Sep 2025RM 199.8bRM 145.9bRM 12.0b16x16.6x1.4x
Tue, 19 Aug 2025RM 202.7bRM 148.7bRM 12.8b14.7x15.8x1.4x
Thu, 17 Jul 2025RM 195.1bRM 148.7bRM 12.8b13.9x15.2x1.3x
Sat, 14 Jun 2025RM 190.0bRM 148.7bRM 12.8b12.9x14.8x1.3x
Mon, 12 May 2025RM 187.8bRM 149.2bRM 12.8b14.9x14.7x1.3x
Wed, 09 Apr 2025RM 168.4bRM 149.2bRM 12.8b13.9x13.2x1.1x
Fri, 07 Mar 2025RM 178.8bRM 149.2bRM 12.8b14.6x14x1.2x
Sun, 02 Feb 2025RM 177.8bRM 147.5bRM 12.1b12.2x14.6x1.2x
Tue, 31 Dec 2024RM 205.3bRM 147.5bRM 12.1b15.1x16.9x1.4x
Thu, 28 Nov 2024RM 185.6bRM 146.3bRM 11.4b12.5x16.3x1.3x
Sat, 26 Oct 2024RM 182.6bRM 145.3bRM 11.8b12.5x15.5x1.3x
Mon, 23 Sep 2024RM 200.5bRM 145.3bRM 11.8b14x17x1.4x
Wed, 21 Aug 2024RM 202.0bRM 146.0bRM 10.2b18.3x19.9x1.4x
Fri, 19 Jul 2024RM 217.7bRM 146.0bRM 10.2b19.1x21.4x1.5x
Sun, 16 Jun 2024RM 217.2bRM 146.0bRM 10.2b18.7x21.4x1.5x
Tue, 14 May 2024RM 201.6bRM 147.2bRM 10.0b18.7x20.2x1.4x
Thu, 11 Apr 2024RM 180.4bRM 147.2bRM 10.0b18.1x18.1x1.2x
Sat, 09 Mar 2024RM 172.9bRM 147.2bRM 10.0b17.8x17.3x1.2x
Mon, 05 Feb 2024RM 169.9bRM 150.1bRM 9.4b14.4x18x1.1x
Wed, 03 Jan 2024RM 148.8bRM 150.1bRM 9.4b11.7x15.8x1x
Fri, 01 Dec 2023RM 141.3bRM 150.1bRM 9.4b10.8x15x0.9x
Sun, 29 Oct 2023RM 136.9bRM 152.8bRM 8.5b9.7x16.2x0.9x
Tue, 26 Sep 2023RM 139.7bRM 152.8bRM 8.5b9.3x16.5x0.9x
Thu, 24 Aug 2023RM 134.1bRM 149.4bRM 8.5b10.2x15.8x0.9x
Sat, 22 Jul 2023RM 122.6bRM 149.0bRM 8.5b9.8x14.5x0.8x
Mon, 19 Jun 2023RM 120.8bRM 149.0bRM 8.5b9.8x14.3x0.8x
Wed, 17 May 2023RM 119.0bRM 145.7bRM 8.5b10.7x14x0.8x
Fri, 14 Apr 2023RM 114.3bRM 145.7bRM 8.5b10.7x13.5x0.8x
Price to Earnings Ratio

13.5x


Total Market Cap: RM 114.3bTotal Earnings: RM 8.5bTotal Revenue: RM 145.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Utilities Sector Price to Earnings3Y Average 16.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the Malaysian Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.2x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 11% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Malaysian Utilities sector?

MY Market0.19%
Utilities4.49%
Other Utilities20.93%
Water Utilities3.74%
Renewable Energy0.60%
Gas Utilities-0.68%
Electric Utilities-1.13%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 18.1x.
    • Analysts are expecting annual earnings growth of 4.7%, which is higher than its past year's earnings decline of 9.7% per year.
  • Investors are most pessimistic about the Other Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 11.5x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 49% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 4.7% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
YTLPOWR YTL Power International BerhadRM 3.5518.3%
+RM 4.8b		19.5%PE13.7x
YTL YTL Corporation BerhadRM 1.8911.8%
+RM 2.3b		6.2%PE12x
TENAGA Tenaga Nasional BerhadRM 14.000.7%
+RM 582.9m		5.9%PE17.1x
MALAKOF Malakoff Corporation BerhadRM 0.823.8%
+RM 146.6m		6.5%PE98.1x
RANHILL Ranhill Utilities BerhadRM 1.743.6%
+RM 77.8m		50.0%PE44.7x

Latest News

YTL
RM 1.89
YTL Corporation Berhad
7D
11.8%
1Y
6.2%
YTLPOWR
RM 3.55
YTL Power International Berhad
7D
18.3%
1Y
19.5%
MFCB
RM 2.84
Mega First Corporation Berhad
7D
-0.7%
1Y
-25.3%

MFCB: Future Dividend Payout Will Support My Positive Long Term View

Analysts have trimmed their MYR fair value estimate for Mega First Corporation Berhad from about MYR4.81 to roughly MYR4.17, citing updated assumptions around revenue growth, profit margins, and the P/E multiple applied to future earnings. What's in the News Mega First Corporation Berhad declared a second and final dividend of MYR 0.05 per share for the financial year ended 31 December 2025, giving investors clear visibility on the upcoming payout schedule (company announcement).
MALAKOF
RM 0.82
Malakoff Corporation Berhad
7D
3.8%
1Y
6.5%
GASMSIA
RM 5.59
Gas Malaysia Berhad
7D
-6.8%
1Y
41.2%
PETGAS
RM 17.94
PETRONAS Gas Berhad
7D
-0.1%
1Y
14.0%
TENAGA
RM 14.00
Tenaga Nasional Berhad
7D
0.7%
1Y
5.9%
PBA
RM 1.80
PBA Holdings Bhd
7D
-2.2%
1Y
-5.3%
SALCON
RM 0.23
Salcon Berhad
7D
2.2%
1Y
-24.6%
EDEN
RM 0.15
Eden Berhad
7D
3.4%
1Y
3.4%
RANHILL
RM 1.74
Ranhill Utilities Berhad
7D
3.6%
1Y
50.0%
TALIWRK
RM 0.41
Taliworks Corporation Berhad
7D
-4.7%
1Y
-38.2%
GENERGY
RM 0.67
Wasco Greenergy Berhad
7D
-5.0%
1Y
n/a