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Malaysian (KLSE) Market Analysis & Valuation

UpdatedDec 27, 2025
DataAggregated Company Financials
Companies1055
  • 7D0.5%
  • 3M1.9%
  • 1Y-1.3%
  • YTD-1.6%

The market has climbed 1.2% in the last 7 days, lead by the Financials sector with a gain of 2.4%. The market has been flat overall in the last year. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasSoftware

Market Valuation and Performance

Has the Malaysian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 27 Dec 2025RM 2.0tRM 1.3tRM 118.7b13.9x17x1.5x
Mon, 24 Nov 2025RM 2.0tRM 1.3tRM 114.8b13.9x17.2x1.5x
Wed, 22 Oct 2025RM 2.0tRM 1.3tRM 111.9b14.8x17.8x1.5x
Fri, 19 Sep 2025RM 1.9tRM 1.3tRM 112.1b14.7x17.3x1.5x
Sun, 17 Aug 2025RM 1.9tRM 1.3tRM 114.0b14.1x16.7x1.5x
Tue, 15 Jul 2025RM 1.9tRM 1.3tRM 115.6b13.9x16.2x1.4x
Thu, 12 Jun 2025RM 1.8tRM 1.3tRM 115.7b13.6x16x1.4x
Sat, 10 May 2025RM 1.9tRM 1.3tRM 118.5b14x15.7x1.4x
Mon, 07 Apr 2025RM 1.8tRM 1.3tRM 118.2b14x15.2x1.4x
Wed, 05 Mar 2025RM 1.8tRM 1.3tRM 118.5b13.9x15.6x1.4x
Fri, 31 Jan 2025RM 1.9tRM 1.3tRM 115.7b14.8x16.6x1.5x
Sun, 29 Dec 2024RM 2.0tRM 1.3tRM 115.1b15.3x17.5x1.6x
Tue, 26 Nov 2024RM 2.0tRM 1.3tRM 111.7b15.6x17.5x1.5x
Thu, 24 Oct 2024RM 2.0tRM 1.3tRM 113.8b15.5x17.5x1.6x
Sat, 21 Sep 2024RM 2.0tRM 1.3tRM 113.1b15.8x17.8x1.6x
Mon, 19 Aug 2024RM 2.0tRM 1.2tRM 106.7b17.5x18.5x1.6x
Wed, 17 Jul 2024RM 2.0tRM 1.2tRM 105.8b18.1x19.2x1.7x
Fri, 14 Jun 2024RM 2.0tRM 1.2tRM 104.8b17.4x19.2x1.6x
Sun, 12 May 2024RM 1.9tRM 1.2tRM 99.9b16.9x19.5x1.6x
Tue, 09 Apr 2024RM 1.9tRM 1.2tRM 99.6b16.4x18.9x1.6x
Thu, 07 Mar 2024RM 1.8tRM 1.2tRM 99.5b15.7x18.3x1.5x
Sat, 03 Feb 2024RM 1.8tRM 1.2tRM 83.3b15.7x21.8x1.5x
Mon, 01 Jan 2024RM 1.8tRM 1.2tRM 83.1b15.6x21.2x1.4x
Wed, 29 Nov 2023RM 1.7tRM 1.2tRM 81.6b15.3x21.3x1.4x
Fri, 27 Oct 2023RM 1.7tRM 1.2tRM 79.2b15.3x21.8x1.4x
Sun, 24 Sep 2023RM 1.7tRM 1.2tRM 79.7b15.7x21.9x1.4x
Tue, 22 Aug 2023RM 1.7tRM 1.2tRM 81.3b14.9x21.1x1.4x
Thu, 20 Jul 2023RM 1.7tRM 1.2tRM 82.6b14.1x20.3x1.4x
Sat, 17 Jun 2023RM 1.6tRM 1.2tRM 82.8b13.7x19.9x1.3x
Mon, 15 May 2023RM 1.7tRM 1.4tRM 125.7b13x13.3x1.2x
Wed, 12 Apr 2023RM 1.7tRM 1.2tRM 119.1b13.3x14.2x1.4x
Fri, 10 Mar 2023RM 1.7tRM 1.2tRM 119.0b13.8x14.2x1.4x
Sun, 05 Feb 2023RM 1.7tRM 1.2tRM 138.7b13.7x12.6x1.4x
Tue, 03 Jan 2023RM 1.7tRM 1.2tRM 138.6b13x12.2x1.4x
Price to Earnings Ratio

12.2x


Total Market Cap: RM 1.7tTotal Earnings: RM 138.6bTotal Revenue: RM 1.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Market Price to Earnings3Y Average 17.7x20242025
Current Market PE
  • Investors are relatively neutral on the Malaysian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 17.7x.
Past Earnings Growth
  • The earnings for Malaysian listed companies have declined 5.0% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.9% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Sector Trends

Which sectors have driven the changes within the Malaysian Market?

MY Market0.48%
Materials2.87%
Utilities1.31%
Industrials1.06%
Real Estate0.43%
Financials0.35%
Healthcare0.30%
Consumer Discretionary0.10%
Consumer Staples0.064%
Telecom-0.92%
Tech-1.43%
Energy-1.68%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 36.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 36.0%, which is higher than its past year's earnings growth of 0.2% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 22.2x.
Forecasted Growth
  • Analysts are most optimistic on the Materials sector, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings growth rate of 0.2% per year.
  • In contrast, the Real Estate 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?

CompanyLast Price7D1YValuationSector
PMETAL Press Metal Aluminium Holdings BerhadRM 7.183.8%
+RM 2.1b		47.1%PE30.2xMaterials
TENAGA Tenaga Nasional BerhadRM 13.662.2%
+RM 1.7b		-7.3%PE17.9xUtilities
MCEMENT Malayan Cement BerhadRM 7.6310.6%
+RM 1.0b		56.0%PE14.3xMaterials
HLFG Hong Leong Financial Group BerhadRM 19.044.3%
+RM 884.7m		5.1%PB0.7xFinancials
MISC MISC BerhadRM 7.762.2%
+RM 758.8m		3.5%PE27.4xIndustrials
See more

Market Insights

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PCHEM
RM 3.65
PETRONAS Chemicals Group Berhad
7D
2.5%
1Y
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PCHEM: Future Margins Will Likely Stay Compressed Amid Weak Demand

Analysts have nudged their price target on PETRONAS Chemicals Group Berhad slightly lower, trimming fair value from MYR2.18 to MYR2.06 as they temper profit margin expectations, despite modestly improving revenue growth forecasts and a lower discount rate. Analyst Commentary Bearish analysts interpret the latest price target reduction as a signal that medium term profitability for PETRONAS Chemicals Group Berhad may be structurally weaker than previously assumed, even as revenue expectations inch higher.
MCEMENT
RM 7.63
Malayan Cement Berhad
7D
10.6%
1Y
56.0%

Are Investors Undervaluing Malayan Cement Berhad (KLSE:MCEMENT) By 35%?

Dec 22
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IOICORP
RM 4.02
IOI Corporation Berhad
7D
-1.5%
1Y
4.1%

Is IOI Corporation Berhad (KLSE:IOICORP) A Risky Investment?

Dec 20
Is IOI Corporation Berhad (KLSE:IOICORP) A Risky Investment?
MISC
RM 7.76
MISC Berhad
7D
2.2%
1Y
3.5%
DIALOG
RM 1.70
Dialog Group Berhad
7D
-5.0%
1Y
-7.6%

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Dec 17
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CDB
RM 3.23
Celcomdigi Berhad
7D
-1.5%
1Y
-11.5%

CDB: Future Spectrum Capacity And Dividends Will Support Stronger Long Term Share Price

Analysts have slightly lowered their price target for Celcomdigi Berhad, trimming fair value from MYR 3.98 to MYR 3.94 as they factor in modestly softer revenue growth expectations, partly offset by improving profit margin forecasts and a lower implied future P/E multiple. What's in the News Accepted long term spectrum assignments from the Malaysian Communications and Multimedia Commission for 2x5MHz in the 1800MHz band and 2x20MHz in the 2600MHz band, effective from 30 November 2025 and running to June 2032 and June 2027 respectively (company announcement) Committed MYR 292.5 million in upfront price component payments to the MCMC for the new spectrum and cumulative annual payments totaling MYR 120 million over the assignment periods, supporting network capacity and service quality (company announcement) Declared a third interim tax exempt single tier dividend of 3.6 sen per ordinary share for the financial year ending 31 December 2025, with ex dividend date on 9 December 2025, lodgment date on 10 December 2025, and payment date on 23 December 2025 (company announcement) Valuation Changes Fair Value: Trimmed slightly from MYR 3.98 to MYR 3.94, reflecting a marginally more conservative valuation.
TENAGA
RM 13.66
Tenaga Nasional Berhad
7D
2.2%
1Y
-7.3%

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Dec 17
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GAMUDA
RM 5.00
Gamuda Berhad
7D
2.5%
1Y
6.6%

Gamuda Berhad (KLSE:GAMUDA) Not Lagging Market On Growth Or Pricing

Dec 16
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SDG
RM 5.69
SD Guthrie Berhad
7D
1.6%
1Y
15.2%

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MAXIS
RM 3.85
Maxis Berhad
7D
-1.0%
1Y
6.6%

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AXIATA
RM 2.57
Axiata Group Berhad
7D
-2.7%
1Y
8.0%

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Analysts have slightly reduced their price target on Axiata Group Berhad from around RM4.04 to RM3.92, citing lower expected revenue growth even as profitability and valuation assumptions improve. What's in the News Axiata Group Berhad is hosting an Analyst and Investor Day, providing updates on strategy, operational performance, and capital allocation plans (company event).
NESTLE
RM 115.00
Nestlé (Malaysia) Berhad
7D
-1.1%
1Y
18.5%

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Dec 10
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HLFG
RM 19.04
Hong Leong Financial Group Berhad
7D
4.3%
1Y
5.1%
YTL
RM 2.07
YTL Corporation Berhad
7D
-2.4%
1Y
-21.0%

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MAYBANK
RM 10.40
Malayan Banking Berhad
7D
-0.4%
1Y
3.0%
PMETAL
RM 7.18
Press Metal Aluminium Holdings Berhad
7D
3.8%
1Y
47.1%