Price Target Changed • Apr 23
Price target increased by 11% to RM2.25 Up from RM2.04, the current price target is an average from 2 analysts. New target price is 48% above last closing price of RM1.52. Stock is down 3.8% over the past year. The company is forecast to post earnings per share of RM0.35 for next year compared to RM0.14 last year. Reported Earnings • Feb 28
Third quarter 2026 earnings released: EPS: RM0.042 (vs RM0.029 in 3Q 2025) Third quarter 2026 results: EPS: RM0.042 (up from RM0.029 in 3Q 2025). Revenue: RM144.7m (down 11% from 3Q 2025). Net income: RM26.7m (up 45% from 3Q 2025). Profit margin: 18% (up from 11% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Dec 13
Upcoming dividend of RM0.06 per share Eligible shareholders must have bought the stock before 18 December 2025. Payment date: 09 January 2026. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Malaysian dividend payers (5.5%). Higher than average of industry peers (2.6%). Major Estimate Revision • Dec 04
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from RM915.0m to RM985.2m. EPS estimate increased from RM0.234 to RM0.274 per share. Net income forecast to shrink 41% next year vs 26% growth forecast for Construction industry in Malaysia . Consensus price target of RM2.04 unchanged from last update. Share price rose 3.3% to RM1.55 over the past week. Declared Dividend • Nov 29
First half dividend of RM0.06 announced Shareholders will receive a dividend of RM0.06. Ex-date: 18th December 2025 Payment date: 9th January 2026 Dividend yield will be 5.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 25% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to decline by 71% over the next 3 years. However, it would need to fall by 79% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Nov 28
Second quarter 2026 earnings released: EPS: RM0.23 (vs RM0.035 in 2Q 2025) Second quarter 2026 results: EPS: RM0.23 (up from RM0.035 in 2Q 2025). Revenue: RM451.0m (up 141% from 2Q 2025). Net income: RM143.8m (up RM121.3m from 2Q 2025). Profit margin: 32% (up from 12% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is expected to decline by 6.0% p.a. on average during the next 3 years, while revenues in the Construction industry in Malaysia are expected to grow by 16%. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 16% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Risk Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 05
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: RM0.14 (down from RM0.15 in FY 2024). Revenue: RM608.6m (down 15% from FY 2024). Net income: RM92.1m (down 1.1% from FY 2024). Profit margin: 15% (up from 13% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 29%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 29
AME Elite Consortium Berhad, Annual General Meeting, Aug 29, 2025 AME Elite Consortium Berhad, Annual General Meeting, Aug 29, 2025, at 10:00 Singapore Standard Time. Location: no. 2, jalan i-park sac 1/1, taman perindustrian i-park sac, 81400 senai, johor, Malaysia Declared Dividend • Jun 02
Final dividend of RM0.03 announced Shareholders will receive a dividend of RM0.03. Ex-date: 19th June 2025 Payment date: 4th July 2025 Dividend yield will be 3.7%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (55% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 25% per year over the past 5 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 31
Full year 2025 earnings released: EPS: RM0.14 (vs RM0.15 in FY 2024) Full year 2025 results: EPS: RM0.14 (down from RM0.15 in FY 2024). Revenue: RM608.6m (down 15% from FY 2024). Net income: RM92.1m (down 1.1% from FY 2024). Profit margin: 15% (up from 13% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10.0% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • May 30
AME Elite Consortium Berhad Announces Interim Single Tier Dividend in Respect of the Financial Year Ended 31 March 2025, Payable on 04 July 2025 AME Elite Consortium Berhad announced Interim Single Tier Dividend of 3.0 sen per ordinary share in respect of the financial year ended 31 March 2025. Ex-Date: 19 June 2025. Payment Date: 04 July 2025. Reported Earnings • Mar 01
Third quarter 2025 earnings released: EPS: RM0.029 (vs RM0.034 in 3Q 2024) Third quarter 2025 results: EPS: RM0.029 (down from RM0.034 in 3Q 2024). Revenue: RM163.4m (down 7.3% from 3Q 2024). Net income: RM18.4m (down 16% from 3Q 2024). Profit margin: 11% (down from 12% in 3Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 02
First half dividend increased to RM0.03 Dividend of RM0.03 is 50% higher than last year. Ex-date: 12th December 2024 Payment date: 30th December 2024 Dividend yield will be 4.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 41% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 30
Second quarter 2025 earnings released: EPS: RM0.035 (vs RM0.034 in 2Q 2024) Second quarter 2025 results: EPS: RM0.035 (up from RM0.034 in 2Q 2024). Revenue: RM187.2m (down 20% from 2Q 2024). Net income: RM22.4m (up 2.7% from 2Q 2024). Profit margin: 12% (up from 9.4% in 2Q 2024). Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 29
First quarter 2025 earnings released: EPS: RM0.023 (vs RM0.036 in 1Q 2024) First quarter 2025 results: EPS: RM0.023 (down from RM0.036 in 1Q 2024). Revenue: RM142.4m (down 36% from 1Q 2024). Net income: RM14.7m (down 37% from 1Q 2024). Profit margin: 10% (in line with 1Q 2024). Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Ame Elite Consortium Berhad Appoints Lee Chun Kiat as Executive Alternate Director AME Elite Consortium Berhad appointed MR LEE CHUN KIAT as Executive Alternate Director. Date of change is 08 August 2024. Nationality is Malaysia. Age is 28. Gender is Male. Experience and occupation: Lee Chun Kiat joined AME Group in June 2020 as the Corporate Planning Executive, where he involved in the corporate matters of AME Group, including the listing exercise of AME Real Estate Investment Trust (AME REIT), a subsidiary of AME Elite Consortium Berhad (AME Elite) and an Islamic REIT listed on the Main Market of Bursa Malaysia Securities Berhad, with the principal investment policy of investing, directly and indirectly, in a Shariah-compliant portfolio of income producing real estate used primarily for industrial and industrial related purpose in Malaysia and overseas. In May 2022, Lee Chun Kiat was transferred to I REIT Managers Sdn Bhd (IRM), the manager of AME REIT as the Investment Officer. He was promoted to the position of Assistant Manager, Investment in January 2023 and was subsequently redesignated as the Manager, Business Development and Investor Relations of the IRM in May 2024. On 8 August 2024, he was appointed to the board of directors (Board) of IRM as the Alternate Director to Lee Ling Sien.Lee Chun Kiat's role in IRM is to assist the CEO in executing AME REIT's strategy to expand the fund size. He originates and evaluates potential pipeline properties for AME REIT and oversees the due diligence process for all property investments/divestments. He also assists the Head of Finance and Investor Relations of IRM on investor relation activities.Apart from the involvement in IRM, Lee Chun Kiat also involved in the business development and operational activities following his appointment to the Board of certain subsidiary companies within AME Group's construction and engineering division since October 2023. Alternate Director to Lee Ling Sien in IRM, the manager of AME REIT (with effect from 8 August 2024). Lee Chun Kiat is the son to Lee Chai, brother to Lee Ling Sien, cousin to Lim Khai Wen and Lim Pei Shi, and nephew to Lim Yook Kim and Lee Sai Boon. Reported Earnings • Jul 26
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: RM0.15 (down from RM0.16 in FY 2023). Revenue: RM716.9m (up 25% from FY 2023). Net income: RM93.1m (down 8.3% from FY 2023). Profit margin: 13% (down from 18% in FY 2023). Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) exceeded analyst estimates by 13%. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Jul 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (108% cash payout ratio). Large one-off items impacting financial results. Announcement • Jul 23
AME Elite Consortium Berhad, Annual General Meeting, Aug 29, 2024 AME Elite Consortium Berhad, Annual General Meeting, Aug 29, 2024, at 10:00 Singapore Standard Time. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: RM0.15 (vs RM0.16 in FY 2023) Full year 2024 results: EPS: RM0.15 (down from RM0.16 in FY 2023). Revenue: RM716.9m (up 25% from FY 2023). Net income: RM93.1m (down 8.3% from FY 2023). Profit margin: 13% (down from 18% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 9.3% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jun 01
Dividend of RM0.04 announced Shareholders will receive a dividend of RM0.04. Ex-date: 20th June 2024 Payment date: 12th July 2024 Dividend yield will be 3.5%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has remained flat since 4 years ago. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 29
Ame Elite Consortium Berhad Announces Redesignation of Lee Chai from Group Managing Director to Deputy Chairman AME Elite Consortium Berhad announced redesignation of Lee Chai from Group Managing Director to Deputy Chairman. age: 61. Nationality: Malaysia. Date of change: 01 Apr. 2024. Reported Earnings • Feb 29
Third quarter 2024 earnings released: EPS: RM0.034 (vs RM0.014 in 3Q 2023) Third quarter 2024 results: EPS: RM0.034 (up from RM0.014 in 3Q 2023). Revenue: RM176.2m (up 31% from 3Q 2023). Net income: RM21.9m (up 136% from 3Q 2023). Profit margin: 12% (up from 6.9% in 3Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jan 02
Ame Elite Consortium Berhad Announces Redesignation of Lee Sai Boon from Executive Director to Non Executive Director AME Elite Consortium Berhad announced redesignation of Lee Sai Boon from Executive Director to Non Executive Director. Age is 59. Nationality is Malaysia. Date of change is 02 January 2024. Upcoming Dividend • Dec 07
Upcoming dividend of RM0.02 per share at 1.3% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 05 January 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (3.0%). Price Target Changed • Dec 01
Price target increased by 7.9% to RM1.94 Up from RM1.80, the current price target is an average from 4 analysts. New target price is 21% above last closing price of RM1.61. Stock is up 22% over the past year. The company is forecast to post earnings per share of RM0.11 for next year compared to RM0.16 last year. Announcement • Nov 24
AME Elite Consortium Berhad Announces Interim Single Tier Dividend in Respect of the Financial Year Ending 31 March 2024, Payable on 5 January 2024 AME Elite Consortium Berhad announced interim single tier dividend of 2.0 sen per ordinary share in respect of the financial year ending 31 March 2024. Ex-Date: 14 December 2023. Entitlement date: 15 December 2023. Payment Date: 5 January 2024. Reported Earnings • Nov 24
Second quarter 2024 earnings released: EPS: RM0.034 (vs RM0.072 in 2Q 2023) Second quarter 2024 results: EPS: RM0.034 (down from RM0.072 in 2Q 2023). Revenue: RM233.3m (up 58% from 2Q 2023). Net income: RM21.8m (down 52% from 2Q 2023). Profit margin: 9.4% (down from 31% in 2Q 2023). Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Sep 02
AME Elite Consortium Berhad Announces Appointment of Tan Teck Eng as Executive Director AME Elite Consortium Berhad announced appointment of Mr. Tan Teck Eng as Executive Director, age 46. Date of change: September 01, 2023. Professional Qualification: Accounting and Finance from Chartered Accountant of the Malaysian Institute of Accountants ("MIA"). Accounting and Finance from CPA Australia. Bachelor of Business Degree from University of Technology, Sydney, Australia. Mr. Tan Teck Eng ("Dylan Tan") started his career with KPMG Malaysia in 1999 after his graduation from University of Technology, Sydney, Australia. He qualified as a Certified Practicing Accountant of CPA Australia in 2003, and subsequently as a Chartered Accountant of MIA in 2004. He was admitted to the Malaysian partnership of KPMG on 1 January 2011, and subsequently on 1 January 2018, he was promoted to Partner-In-Charge of the KPMG Johor office until his departure on 31 December 2022. During his tenure with KPMG, Dylan Tan has extensive audit work experience in a wide range of industries. His key clientele includes multinational corporations and public listed companies which are involved in trading and manufacturing businesses relating to electrical and electronics industry, and also companies that are involved in logistics, plantations, construction and property development. During his secondment to KPMG Dallas, United States of America from August 2004 to April 2006, he was involved in audit assignments in services, manufacturing and oil and gas industries. He has also been involved in the role of reporting accountants for Initial Public Offering ("IPO") assignments and special review engagement involving reverse takeover. Upon his departure from KPMG, Dylan Tan founded Blue Beacon Coaching & Consulting Sdn Bhd and embarked on his coaching and consulting practices. Dylan Tan joined AME Group as Group Chief Executive Officer on 1 August 2023. He is now also appointed as a member of the Board of Directors of AME Elite Consortium Berhad on 1 September 2023. With his appointment, he helms the transformation and growth of the Group together with the management team. Board Change • Aug 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Alternate Director Ah Chee Kang was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 02
AME Elite Consortium Berhad Appoints Tan Teck Eng as Group Chief Executive Officer AME Elite Consortium Berhad announced appointment of Mr Tan Teck Eng as Group Chief Executive Officer. Date of change is August 1, 2023. Age is 46. Qualifications: Professional Qualification: In Accounting and Finance as Member of Chartered Accountant of the Malaysian Institute of Accountants (MIA). In Accounting and Finance as Fellow of CPA Australia. Degree: Bachelor of Business from University of Technology, Sydney, Australia. Working experience and occupation: Mr. Tan Teck Eng (Dylan Tan) started his career with KPMG Malaysia in 1999 after his graduation from University of Technology, Sydney, Australia. He qualified as a Certified Practicing Accountant of CPA Australia in 2003, and subsequently as a Chartered Accountant of MIA in 2004. He was admitted to the Malaysian partnership of KPMG on 1 January 2011, and subsequently on 1 January 2018, he was promoted to Partner-In-Charge of the KPMG Johor office until his departure on 31 December 2022. During his tenure with KPMG, Dylan Tan has extensive audit work experience in a wide range of industries. His key clientele includes multinational corporations and public listed companies which are involved in trading and manufacturing businesses relating to electrical and electronics industry, and also companies that are involved in logistics, plantations, construction and property development. During his secondment to KPMG Dallas, United States of America from August 2004 to April 2006, he was involved in audit assignments in services, manufacturing and oil and gas industries. He has also been involved in the role of reporting accountants for Initial Public Offering assignments and special review engagement involving reverse takeover. Upon his departure from KPMG, Dylan Tan founded Blue Beacon Coaching & Consulting Sdn Bhd and embarked on his coaching and consulting practices. With Dylan Tan's appointment as the Group Chief Executive Officer of AME Elite Consortium Berhad and its subsidiaries (Group), he helms the transformation and growth of the Group together with the management team. Reported Earnings • Jul 30
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: RM0.16 (up from RM0.076 in FY 2022). Revenue: RM575.9m (up 45% from FY 2022). Net income: RM101.6m (up 109% from FY 2022). Profit margin: 18% (up from 12% in FY 2022). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jul 28
AME Elite Consortium Berhad, Annual General Meeting, Aug 25, 2023 AME Elite Consortium Berhad, Annual General Meeting, Aug 25, 2023, at 10:00 Singapore Standard Time. Agenda: To receive the Audited Financial Statements for the financial year ended 31 March 2023 and the Reports of the Directors and Auditors thereon; to approve the payment of Directors' fees of the Company for the financial year ending 31 March 2024 to be payable quarterly in arrears; to approve the payment of benefits to the Directors of the Company for the period from the fifth AGM to the sixth AGM of the Company; to approve the payment of Directors' fees of IRM, for the financial year ending 31 March 2024 to be payable quarterly in arrears; to approve the payment of benefits to the Directors of IRM for the financial year ended 31 March 2023; to approve the payment of benefits to the Directors; to consider and re-elect the Directors of the Company; to re-appoint Messrs KPMG PLT as Auditors of the Company for the financial year ending 31 March 2024 and to authorize the Directors to fix their remuneration; and to consider any other matters. Board Change • Jun 15
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. No highly experienced directors. Executive Director Eric Kang was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 08
Upcoming dividend of RM0.03 per share at 2.3% yield Eligible shareholders must have bought the stock before 15 June 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Malaysian dividend payers (5.4%). Lower than average of industry peers (3.4%). Reported Earnings • May 27
Full year 2023 earnings released: EPS: RM0.16 (vs RM0.076 in FY 2022) Full year 2023 results: EPS: RM0.16 (up from RM0.076 in FY 2022). Revenue: RM577.1m (up 45% from FY 2022). Net income: RM103.5m (up 113% from FY 2022). Profit margin: 18% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 25
Third quarter 2023 earnings released: EPS: RM0.015 (vs RM0.017 in 3Q 2022) Third quarter 2023 results: EPS: RM0.015 (down from RM0.017 in 3Q 2022). Revenue: RM134.3m (up 41% from 3Q 2022). Net income: RM9.28m (down 13% from 3Q 2022). Profit margin: 6.9% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Announcement • Jan 18
AME Elite Consortium Berhad Appoints Gregory Lui Poh SEK as Chief Financial Officer AME Elite Consortium Berhad announced the appointment of Gregory Lui Poh SEK as Chief Financial Officer, Age 54, Date of change 17 January 2023, Professional Qualification Accounting and finance Chartered Accountant of the Malaysian Institute of Accountants, Professional Qualification Accounting and finance from institute of Professional Member of the Australian Society of Certified Practising Accountants (now known as CPA Australia), degree Bachelor of Business from University of Southern Queensland, Australia. Mr. Gregory Lui Poh Sek ("Mr Lui") began his career in July 1988 as an Audit Assistant in Price Waterhouse. He then left the firm in October 1991 to pursue his tertiary education. Upon graduating from University of Southern Queensland, Australia, he re-joined Price Waterhouse as an Audit Senior in September 1994. In February 1996, he left Price Waterhouse and joined Oriental Assemblers Sdn Bhd as Accountant. He was re-designated as Finance Manager in 2000 where he was in charge of overseeing the finance, accounting, taxation, payroll and information technology functions. Mr. Lui left Oriental Assemblers Sdn Bhd in January 2008. In February 2008, Mr. Lui joined Iskandar Regional Development Authority ("IRDA"), a governmental body, as Vice President of Finance & Corporate Services. He was then promoted to Senior Vice President of Finance & Corporate Services in June 2010 where he was responsible for the implementation of policies and procedures, finance, accounting, budgeting as well as treasury matters. In April 2012, he left IRDA and joined Dialog Engineering Pte Ltd, Singapore, in May 2012 as the Head of Corporate Services. He was responsible for overseeing the Departments of Finance, Taxation, Human Resources, Administration, Information Technology and Business Development. In July 2013, Mr. Lui left Dialog Engineering Pte Ltd. and thereafter joined Edaran Tan Chong Motor (Selatan) Sdn Bhd as General Manager of Finance in August 2013. He subsequently assumed an additional role as the Head of Sales System Compliance Southern Region in January 2016. His primary role was to oversee the operational compliance and administration of the branches in the region. Mr. Lui left in October 2016 and joined AME Group as a Group Financial Controller. He was promoted to Chief Financial Officer in January 2023. Reported Earnings • Dec 03
Second quarter 2023 earnings released: EPS: RM0.072 (vs RM0.015 in 2Q 2022) Second quarter 2023 results: EPS: RM0.072 (up from RM0.015 in 2Q 2022). Revenue: RM147.5m (up 71% from 2Q 2022). Net income: RM45.8m (up 369% from 2Q 2022). Profit margin: 31% (up from 11% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Oct 05
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 12 October 2022. Payment date: 28 October 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of Malaysian dividend payers (5.3%). Lower than average of industry peers (3.4%). Announcement • Sep 28
Ame Elite Consortium Berhad Announces Special Dividend for Financial Year Ending 31 March 2023, Payable on 28 October 2022 AME Elite Consortium Berhad announces Special Dividend Single-Tier Dividend of 1.0 sen per ordinary share for Financial Year Ending 31 March 2023 . Ex-Date is 12 October 2022, Payment Date is 28 October 2022 and Entitlement date is 13 October 2022. Reported Earnings • Aug 01
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: RM0.076 (down from RM0.083 in FY 2021). Revenue: RM398.4m (down 14% from FY 2021). Net income: RM48.6m (down 9.2% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 55%, compared to a 31% growth forecast for the industry in Malaysia. Upcoming Dividend • Jun 08
Upcoming dividend of RM0.025 per share Eligible shareholders must have bought the stock before 15 June 2022. Payment date: 07 July 2022. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Malaysian dividend payers (4.6%). Lower than average of industry peers (3.1%). Major Estimate Revision • Jun 02
Consensus revenue estimates fall by 11% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from RM634.6m to RM566.2m. EPS estimate fell from RM0.11 to RM0.11 per share. Net income forecast to grow 25% next year vs 45% growth forecast for Construction industry in Malaysia. Consensus price target down from RM1.85 to RM1.78. Share price was steady at RM1.68 over the past week. Announcement • May 28
AME Elite Consortium Berhad Declares Interim Single-Tier Dividend for the Financial Year Ended 31 March 2022, Payable on 7 July 2022 The Board of Directors of AME Elite Consortium Berhad declared an interim single-tier dividend of 2.5 sen per ordinary share in respect of the financial year ended 31 March 2022, which will be payable on 7 July 2022 to shareholders whose names appear in the Record of Depositors of the Company at the close of business on 16 June 2022. Ex-Date is 15 June 2022. Reported Earnings • May 28
Full year 2022 earnings: EPS in line with analyst expectations despite revenue beat Full year 2022 results: EPS: RM0.076 (down from RM0.083 in FY 2021). Revenue: RM398.4m (down 14% from FY 2021). Net income: RM48.6m (down 9.2% from FY 2021). Profit margin: 12% (in line with FY 2021). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 42%, compared to a 29% growth forecast for the industry in Malaysia. Price Target Changed • Apr 27
Price target decreased to RM1.85 Down from RM1.99, the current price target is an average from 3 analysts. New target price is 9.5% above last closing price of RM1.69. Stock is up 18% over the past year. The company is forecast to post earnings per share of RM0.075 for next year compared to RM0.083 last year. Reported Earnings • Feb 27
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: RM0.017 (down from RM0.024 in 3Q 2021). Revenue: RM95.6m (down 21% from 3Q 2021). Net income: RM10.7m (down 29% from 3Q 2021). Profit margin: 11% (down from 12% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 36%, compared to a 27% growth forecast for the industry in Malaysia. Reported Earnings • Nov 26
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: EPS: RM0.015 (down from RM0.018 in 2Q 2021). Revenue: RM86.3m (down 29% from 2Q 2021). Net income: RM9.76m (down 14% from 2Q 2021). Profit margin: 11% (up from 9.4% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%. Earnings per share (EPS) surpassed analyst estimates by 6.1%. Over the next year, revenue is forecast to grow 8.0%, compared to a 15% growth forecast for the industry in Malaysia. Price Target Changed • Oct 24
Price target increased to RM1.99 Up from RM1.85, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of RM1.99. Stock is up 46% over the past year. The company is forecast to post earnings per share of RM0.08 for next year compared to RM0.083 last year. Reported Earnings • Aug 02
Full year 2021 earnings released: EPS RM0.13 (vs RM0.17 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: RM460.6m (up 21% from FY 2020). Net income: RM53.5m (down 17% from FY 2020). Profit margin: 12% (down from 17% in FY 2020). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jun 09
Upcoming dividend of RM0.04 per share Eligible shareholders must have bought the stock before 16 June 2021. Payment date: 08 July 2021. Trailing yield: 1.7%. Lower than top quartile of Malaysian dividend payers (4.0%). Lower than average of industry peers (2.5%). Price Target Changed • Jun 05
Price target increased to RM2.69 Up from RM2.51, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of RM2.57. Stock is up 49% over the past year. Major Estimate Revision • Jun 03
Consensus revenue estimates increase to RM460.6m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from RM399.0m to RM460.6m. EPS estimate increased from RM0.12 to RM0.13 per share. Net income forecast to grow 16% next year vs 65% growth forecast for Construction industry in Malaysia. Consensus price target up from RM2.51 to RM2.64. Share price rose 16% to RM2.57 over the past week. Valuation Update With 7 Day Price Move • Jun 03
Investor sentiment improved over the past week After last week's 16% share price gain to RM2.57, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 11x in the Construction industry in Malaysia. Total returns to shareholders of 49% over the past year. Price Target Changed • May 31
Price target increased to RM2.64 Up from RM2.45, the current price target is an average from 2 analysts. New target price is 10% above last closing price of RM2.40. Stock is up 40% over the past year. Announcement • May 29
AME Elite Consortium Berhad Announces Interim Single Tier Dividend in Respect of Financial Year Ended 31 March 2021, Payable on July 08, 2021 AME Elite Consortium Berhad has announced Interim Single Tier Dividend of 4.0 sen per ordinary share in respect of financial year ended 31 March 2021, payable on July 08, 2021. Ex-Date is June 16, 2021 and Entitlement date is June 17, 2021. Reported Earnings • May 29
Full year 2021 earnings released: EPS RM0.13 (vs RM0.17 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: RM460.6m (up 21% from FY 2020). Net income: RM54.6m (down 15% from FY 2020). Profit margin: 12% (down from 17% in FY 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 27
Third quarter 2021 earnings released: EPS RM0.036 (vs RM0.036 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: RM121.7m (up 15% from 3Q 2020). Net income: RM15.1m (up 2.1% from 3Q 2020). Profit margin: 12% (down from 14% in 3Q 2020). Is New 90 Day High Low • Feb 02
New 90-day low: RM2.00 The company is down 4.0% from its price of RM2.09 on 04 November 2020. The Malaysian market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.39 per share. Announcement • Dec 31
AME Elite Consortium Berhad Appoints Mr. Kang Koh Wei as Alternate Director, Effective on January 1, 2021 AME Elite Consortium Berhad announced that Mr. Kang Koh Wei is appointed as Alternate Director to Mr. Kang Ah Chee with effect from 1 January 2021. Is New 90 Day High Low • Dec 24
New 90-day high: RM2.38 The company is up 29% from its price of RM1.85 on 25 September 2020. The Malaysian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM0.39 per share. Reported Earnings • Nov 26
Second quarter 2021 earnings released: EPS RM0.027 The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues were improved. Second quarter 2021 results: Revenue: RM120.9m (up 48% from 2Q 2020). Net income: RM11.4m (down 46% from 2Q 2020). Profit margin: 9.4% (down from 26% in 2Q 2020). The decrease in margin was driven by higher expenses. 
