Buy Or Sell Opportunity • May 05
Now 38% overvalued Over the last 90 days, the stock has fallen 13% to RM0.035. The fair value is estimated to be RM0.025, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Apr 29
Luster Industries Bhd, Annual General Meeting, May 29, 2026 Luster Industries Bhd, Annual General Meeting, May 29, 2026, at 10:00 Singapore Standard Time. Location: room the lounge, ground floor, park avenue hotel, e-1 jalan indah dua, taman sejati indah, 08000 sungai petani, kedah darul aman, Malaysia New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings have declined by 23% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 23% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM118.8m market cap, or US$30.3m). Reported Earnings • Nov 29
Third quarter 2025 earnings released: EPS: RM0 (vs RM0.001 loss in 3Q 2024) Third quarter 2025 results: EPS: RM0 (improved from RM0.001 loss in 3Q 2024). Revenue: RM86.2m (up 133% from 3Q 2024). Net income: RM47.0k (up RM2.38m from 3Q 2024). Profit margin: 0.1% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Aug 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.0% Last year net profit margin: 3.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (1.0% net profit margin). Market cap is less than US$100m (RM149.3m market cap, or US$35.3m). Reported Earnings • May 01
Full year 2024 earnings released: EPS: RM0.002 (vs RM0.001 in FY 2023) Full year 2024 results: EPS: RM0.002 (up from RM0.001 in FY 2023). Revenue: RM164.6m (up 17% from FY 2023). Net income: RM6.12m (up 191% from FY 2023). Profit margin: 3.7% (up from 1.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 18% per year. Aankondiging • Apr 24
Luster Industries Bhd, Annual General Meeting, May 26, 2025 Luster Industries Bhd, Annual General Meeting, May 26, 2025, at 10:00 Singapore Standard Time. Location: room the lounge, ground floor, park avenue hotel, e-1 jalan indah dua, taman sejati indah, 08000 sungai petani, kedah darul aman, Malaysia Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: RM0.002 (vs RM0.001 in FY 2023) Full year 2024 results: EPS: RM0.002 (up from RM0.001 in FY 2023). Revenue: RM166.4m (up 18% from FY 2023). Net income: RM6.05m (up 187% from FY 2023). Profit margin: 3.6% (up from 1.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Reported Earnings • Nov 29
Third quarter 2024 earnings released: RM0.001 loss per share (vs RM0 in 3Q 2023) Third quarter 2024 results: RM0.001 loss per share (further deteriorated from RM0 in 3Q 2023). Revenue: RM37.0m (up 12% from 3Q 2023). Net loss: RM2.33m (down RM2.39m from profit in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0.001 (vs RM0.001 in 2Q 2023) Second quarter 2024 results: EPS: RM0.001 (in line with 2Q 2023). Revenue: RM39.1m (up 1.8% from 2Q 2023). Net income: RM2.89m (up 32% from 2Q 2023). Profit margin: 7.4% (up from 5.7% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: RM0.001 (vs RM0 in 1Q 2023) First quarter 2024 results: EPS: RM0.001 (up from RM0 in 1Q 2023). Revenue: RM36.0m (down 8.8% from 1Q 2023). Net income: RM2.68m (up 233% from 1Q 2023). Profit margin: 7.4% (up from 2.0% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Aankondiging • May 01
Luster Industries Bhd, Annual General Meeting, May 30, 2024 Luster Industries Bhd, Annual General Meeting, May 30, 2024, at 10:00 Singapore Standard Time. Location: Room The Lounge, Ground Floor, Park Avenue Hotel E-1, Jalan Indah Dua, Taman Sejati Indah, 08000 Sungai Petani, Kedah Darul Aman Malaysia Agenda: To receive the Audited Financial Statements of the Company for the financial year ended 31 December 2023 and the Reports of the Directors and Auditors thereon; to approve the payment of Directors' fees and Directors' benefits for the financial year ending 31 December 2024; to re-elect the following Directors; to re-appoint Messrs. Grant Thornton Malaysia PLT as Auditors of the Company until the conclusion of the next Annual General Meeting and to authorise the Directors to fix their remuneration; to consider authority to allot and issue shares; to consider proposed renewal of shareholders' mandate for recurrent related party transaction; to consider authority to purchase its own shares; and to transact other matters. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: RM0.001 (vs RM0.006 loss in FY 2022) Full year 2023 results: EPS: RM0.001 (up from RM0.006 loss in FY 2022). Revenue: RM141.0m (down 9.6% from FY 2022). Net income: RM2.25m (up RM19.2m from FY 2022). Profit margin: 1.6% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 30
Third quarter 2023 earnings released: EPS: RM0 (vs RM0 in 3Q 2022) Third quarter 2023 results: EPS: RM0 (in line with 3Q 2022). Revenue: RM33.1m (down 16% from 3Q 2022). Net income: RM55.0k (down 95% from 3Q 2022). Profit margin: 0.2% (down from 2.6% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. New Risk • Oct 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 39% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM226.7m market cap, or US$47.4m). Aankondiging • Aug 29
Luster Industries Bhd Appoints Mr. Nah Ren Ren as Independent and Non Executive Director Luster Industries Bhd approved the appointment of Mr. Nah Ren Ren as Independent and Non Executive director, age 59, Date of change 28 Aug. 2023. Mr. Nah Ren Ren was graduated from RMIT University of Australia in 1990 with a Degree in Computer Science. Since his graduation, he started his career with his family business in metal furniture fabrication, tool and die making, machine automation, machine system programming, metal stamping, metal surface plating and metal /ceramic injection moulding industries environment. He is responsible for the business and manufacturing management of the company. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: RM0.001 (vs RM0.001 in 2Q 2022) Second quarter 2023 results: EPS: RM0.001 (in line with 2Q 2022). Revenue: RM38.4m (down 2.4% from 2Q 2022). Net income: RM2.19m (down 35% from 2Q 2022). Profit margin: 5.7% (down from 8.5% in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • May 31
First quarter 2023 earnings released: EPS: RM0 (vs RM0.001 in 1Q 2022) First quarter 2023 results: EPS: RM0 (down from RM0.001 in 1Q 2022). Revenue: RM39.5m (down 5.1% from 1Q 2022). Net income: RM805.0k (down 69% from 1Q 2022). Profit margin: 2.0% (down from 6.2% in 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 02
Full year 2022 earnings released: RM0.006 loss per share (vs RM0.003 profit in FY 2021) Full year 2022 results: RM0.006 loss per share (down from RM0.003 profit in FY 2021). Revenue: RM158.7m (up 4.6% from FY 2021). Net loss: RM16.7m (down 297% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Reported Earnings • Dec 03
Third quarter 2022 earnings released: EPS: RM0 (vs RM0.001 in 3Q 2021) Third quarter 2022 results: EPS: RM0 (down from RM0.001 in 3Q 2021). Revenue: RM39.2m (up 12% from 3Q 2021). Net income: RM1.00m (down 44% from 3Q 2021). Profit margin: 2.6% (down from 5.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent & Non-Executive Director Tian Yew was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: RM0.001 (vs RM0 in 2Q 2021) Second quarter 2022 results: EPS: RM0.001 (up from RM0 in 2Q 2021). Revenue: RM39.4m (up 30% from 2Q 2021). Net income: RM3.35m (up 470% from 2Q 2021). Profit margin: 8.5% (up from 1.9% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Jun 01
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: RM0.001 (vs RM0.001 in 1Q 2021). Revenue: RM41.6m (down 5.3% from 1Q 2021). Net income: RM2.59m (up 6.1% from 1Q 2021). Profit margin: 6.2% (up from 5.6% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 50%. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • May 02
Luster Industries Bhd, Annual General Meeting, May 30, 2022 Luster Industries Bhd, Annual General Meeting, May 30, 2022, at 11:00 China Standard Time. Location: Room The Lounge, Ground Floor, Park Avenue Hotel E-1, Jalan Indah Dua, Taman Sejati Indah, 08000 Sungai Petani, Kedah Darulaman Sungai Petani Malaysia Agenda: To receive the Audited Financial Statements of the Company for the financial year ended 31 December 2021 and the Reports of the Directors and Auditors thereon; to approve the payment of Directors fees and Directors benefits amounting to RM300,000.00 for the financial year ending 31 December 2022; to re-elect the Directors who retire pursuant to Article 95 of the Company's Constitution; to re-elect the Mr. Chuah Chong San who retire pursuant to Article 102 of the Company's Constitution; to re-appoint Messrs. Grant Thornton Malaysia PLT as Auditors of the Company until the conclusion of the next Annual General Meeting and to authorise the Directors to fix their remuneration; and to consider other mattes. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent & Non-Executive Director Tian Yew was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 02
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.003 (vs RM0.003 in FY 2020). Revenue: RM158.3m (down 14% from FY 2020). Net income: RM8.48m (up 42% from FY 2020). Profit margin: 5.4% (up from 3.3% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 50%. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Nov 28
Third quarter 2021 earnings: EPS and revenues miss analyst expectations Third quarter 2021 results: EPS: RM0.001 (vs RM0.001 in 3Q 2020). Revenue: RM35.0m (down 32% from 3Q 2020). Net income: RM1.79m (down 36% from 3Q 2020). Profit margin: 5.1% (down from 5.4% in 3Q 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 50%. Earnings per share (EPS) missed analyst estimates by 50%. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • May 29
First quarter 2021 earnings released: EPS RM0.001 (vs RM0.001 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: RM43.9m (down 8.9% from 1Q 2020). Net income: RM2.44m (up 42% from 1Q 2020). Profit margin: 5.6% (up from 3.6% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Reported Earnings • Feb 28
Full year 2020 earnings released: EPS RM0.003 (vs RM0.005 in FY 2019) The company reported a poor full year result with weaker earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: RM183.5m (flat on FY 2019). Net income: RM5.96m (down 35% from FY 2019). Profit margin: 3.2% (down from 5.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 03
New 90-day high: RM0.22 The company is up 22% from its price of RM0.18 on 05 November 2020. The Malaysian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period. Aankondiging • Jan 01
Luster Industries Bhd has completed a Follow-on Equity Offering in the amount of MYR 60.26875 million. Luster Industries Bhd has completed a Follow-on Equity Offering in the amount of MYR 60.26875 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 482,150,000
Price\Range: MYR 0.125
Transaction Features: Subsequent Direct Listing Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS RM0.13 The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: RM51.6m (flat on 3Q 2019). Net income: RM2.78m (down 42% from 3Q 2019). Profit margin: 5.4% (down from 9.2% in 3Q 2019). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • Oct 20
Luster Industries Bhd and Fortune Tac Sdn Bhd Enters into Joint Venture Agreement to Form Glovmaster Sdn Bhd On 19 October 2020, Luster Industries Bhd has entered into a joint venture agreement with Fortune Tac Sdn Bhd (FTSB) to set out their mutual understanding in respect of the rights and obligations of Luster and FTSB for the purpose of carrying out the gloves business, which involves the manufacturing, sales and distribution of gloves. Pursuant to the JVA, Luster and FTSB will incorporate a joint venture company, namely Glovmaster Sdn Bhd to undertake the Gloves Business, and each party shall subscribe to ordinary shares of GSB in accordance with the agreed equity participation ratio (Equity Participation Ratio) as follows:- Luster: 56% and FTSB: 44%. Is New 90 Day High Low • Oct 19
New 90-day high: RM0.23 The company is up 67% from its price of RM0.14 on 21 July 2020. The Malaysian market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 2.0% over the same period. Aankondiging • Oct 16
Luster Industries Bhd has completed a Follow-on Equity Offering in the amount of MYR 26.320786 million. Luster Industries Bhd has completed a Follow-on Equity Offering in the amount of MYR 26.320786 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 237,124,202
Price\Range: MYR 0.111
Transaction Features: Subsequent Direct Listing Aankondiging • Sep 23
Luster Industries Bhd Appoints CHUAH CHONG SAN as Executive Alternate Director Luster Industries Bhd announced the appointment of MR CHUAH CHONG SAN as Executive Alternate Director. Mr. Chuah Chong San started his career in Motorola Solutions Malaysia Sdn Bhd (Formerly known as Motorola Malaysia Sdn Bhd) ("Motorola") as Test System Engineer. In 1998, he had transferred to Internal Control function, focusing on Information Technology (IT), Information Security Protection & Compliance. He was promoted to perform engineering management roles in 2000. He led a team to digitise and transform key supply chain business processes. He was promoted to Penang IT lead as Chief Information Officer (CIO) in 2005 to manage simplification and consolidation of Enterprise Resource Planning (ERP) system across multiple businesses within Motorola. During his IT career, he had the opportunities to play IT lead roles in multiple Merger, Acquisition and Divesture projects. He had also successfully migrated regional IT Business system to Global enterprise system in 2013. In 2016, he was promoted to be the Asia Pacific IT lead, focusing on modernising the IT Infrastructure, partnering with Third-Party Logistics (3PL) and Electronics Manufacturing Services (EMS) to deliver IT solution and supporting IT services in 12 Asia Pacific countries. He left Motorola in 2020. Date of change is 22 September 2020.