Reported Earnings • May 30
Full year 2026 earnings released: RM0.13 loss per share (vs RM0.71 loss in FY 2025) Full year 2026 results: RM0.13 loss per share (improved from RM0.71 loss in FY 2025). Revenue: RM103.4m (up 9.6% from FY 2025). Net loss: RM16.5m (loss narrowed 80% from FY 2025). Over the last 3 years on average, earnings per share has fallen by 57% per year whereas the company’s share price has fallen by 55% per year. Announcement • May 07
APB Resources Berhad has completed a Follow-on Equity Offering in the amount of MYR 1.824858 million. APB Resources Berhad has completed a Follow-on Equity Offering in the amount of MYR 1.824858 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,414,000
Price\Range: MYR 0.147
Transaction Features: Subsequent Direct Listing Announcement • Apr 24
APB Resources Berhad has filed a Follow-on Equity Offering. APB Resources Berhad has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 12,414,800
Transaction Features: Subsequent Direct Listing Board Change • Mar 24
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. 2 highly experienced directors. Director of Prescan Sdn. Bhd. Chin Gan is the most experienced director on the board, commencing their role in 1988. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 02
Third quarter 2026 earnings released: RM0.051 loss per share (vs RM0.13 loss in 3Q 2025) Third quarter 2026 results: RM0.051 loss per share (improved from RM0.13 loss in 3Q 2025). Revenue: RM20.2m (down 7.6% from 3Q 2025). Net loss: RM6.31m (loss narrowed 56% from 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 27 percentage points per year, which is a significant difference in performance. New Risk • Dec 27
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 11% 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 (11% average weekly change). Earnings have declined by 72% per year over the past 5 years. Market cap is less than US$10m (RM20.5m market cap, or US$5.06m). Board Change • Dec 07
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. 2 highly experienced directors. Director of Prescan Sdn. Bhd. Chin Gan is the most experienced director on the board, commencing their role in 1988. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 29
Second quarter 2026 earnings released: RM0.048 loss per share (vs RM0.13 loss in 2Q 2025) Second quarter 2026 results: RM0.048 loss per share (improved from RM0.13 loss in 2Q 2025). Revenue: RM26.0m (up 19% from 2Q 2025). Net loss: RM5.99m (loss narrowed 59% from 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Announcement • Oct 03
APB Resources Berhad Appoints Lee Lisa as Chief Financial Officer, Effective October 2, 2025 APB RESOURCES BERHAD appointed Miss Lee Lisa as Chief Financial Officer, effective October 2, 2025. Age is 35. Miss Lee holds a professional qualification as a Chartered Accountant from the Malaysian Institute of Accountants (MIA) and has completed both an Advanced Diploma and a Diploma in Financial Accounting from Tunku Abdul Rahman College. Working experience and occupation Ms. Lee Lisa began her career as an Audit Assistant before she joined Grant Thornton Malaysia in 2016. Throughout her career as an auditor more than seven (7) years, she gained vast exposure in audit and assurance and business advisory involving private and public listed companies covering a broad spectrum of industries including construction, property development, manufacturing, trading, retail, agriculture, hydropower, education and service provider. In 2019, Ms Lee transitioned to the commercial sector as a Finance Manager, where her responsibilities encompassed financial planning, budgeting, and process improvements. She subsequently joined a public listed company in 2021 as a Group Accountant and was promoted to Financial Controller. During this tenure, she was responsible for group consolidations, intercompany reconciliations, cash flow forecasting, and managing banking facilities. Since November 2023, Ms. Lee has held the position of Financial Controller at Amalgamated Metal Corporation (M) Sdn Bhd, a subsidiary of APB Resources Berhad. In this role, she oversees the Group's financial operations, including consolidated reporting and audit engagement. She also manages treasury functions, strengthens the internal control framework, and liaising with auditors, bankers, tax agents, and company secretaries on corporate and strategic financial matters. Reported Earnings • Aug 29
First quarter 2026 earnings released: RM0.002 loss per share (vs RM0.34 loss in 1Q 2025) First quarter 2026 results: RM0.002 loss per share (improved from RM0.34 loss in 1Q 2025). Revenue: RM25.7m (up 12% from 1Q 2025). Net loss: RM298.0k (loss narrowed 99% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Announcement • Jul 30
APB Resources Berhad, Annual General Meeting, Sep 25, 2025 APB Resources Berhad, Annual General Meeting, Sep 25, 2025, at 10:30 Singapore Standard Time. Location: ground floor, lobby 1, crystal plaza, no. 4, jalan 51a/223, 46100 petaling jaya, selangor, Malaysia Reported Earnings • Jun 02
Full year 2025 earnings released: RM0.71 loss per share (vs RM0.19 loss in FY 2024) Full year 2025 results: RM0.71 loss per share (further deteriorated from RM0.19 loss in FY 2024). Revenue: RM94.5m (up 24% from FY 2024). Net loss: RM81.2m (loss widened 284% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. New Risk • Apr 01
New major risk - Revenue and earnings growth Revenue has declined by 0.7% over the past year. 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 revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). Revenue has declined by 0.7% over the past year. Market cap is less than US$10m (RM28.8m market cap, or US$6.49m). Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Share price has been volatile over the past 3 months (7.9% average weekly change). Announcement • Mar 28
Apb Resources Berhad Appoints Ke Tung Chen as Group Chief Executive Officer, Effective March 28, 2025 APB Resources Berhad appointted Mr. Ke Tung Chen, age 50 as Group Chief Executive Officer. Date of change is March 28, 2025. Major/Field of Study- Mechanical and Manufacturing System Engineering. Sheffield Hallam University, United Kingdom. Diploma, Mechanical Engineering. Mr. Ke commenced his career as an engineer at renowned establishments such as Sumitomo Electric and Staedtler manufacturing plant. However, driven by an innate entrepreneurial spirit, he ventured into the realm of entrepreneurship, establishing his own engineering company. With a robust tenure spanning over 20 years, he has amassed invaluable expertise in multi-disciplinary Project Management and Construction. His proficiencies extend across a diverse spectrum, encompassing oil and gas upstream offshore skid fabrication, downstream refinery, petrochemical plant EPC projects, as well as ventures in worldclass amusement theme park projects and the food and beverages industry. New Risk • Mar 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (RM30.5m market cap, or US$6.87m). Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Share price has been volatile over the past 3 months (7.7% average weekly change). Announcement • Feb 28
APB Resources Berhad Announces the Appointment of Yap Kow @ Yap Kim Fah as Executive Director APB Resources Berhad announced the appointment of MR YAP KOW @ YAP KIM FAH as Executive Director, effective 28 February 2025. Age is 80. Directorate: Executive. Mr. Yap Kow @ Yap Kim Fah ("Mr. Yap") had over 50 years of experience in the engineering, fabrication and manufacturing industry, with a strong technical background in welding and process equipment. Earlier in his career, Mr. Yap was served as a welder at Brown & Root /McDermott Ltd., a global engineering and construction company and Workshop Superintendent at Industrial Boiler Allied Equipment Sdn. Bhd., where he oversaw fabrication works and projects. Mr. Yap was the founder of Amalgamated Metal Corporation (M) Sdn. Bhd. ("AMC"), a wholly subsidiary of APB Resources Berhad. New Risk • Feb 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Market cap is less than US$10m (RM30.5m market cap, or US$6.87m). Minor Risk Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Announcement • Jan 28
APB Resources Berhad has completed a Follow-on Equity Offering in the amount of MYR 3.279712 million. APB Resources Berhad has completed a Follow-on Equity Offering in the amount of MYR 3.279712 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,286,000
Price\Range: MYR 0.2906
Transaction Features: Subsequent Direct Listing Announcement • Jan 15
APB Resources Berhad has filed a Follow-on Equity Offering in the amount of MYR 3.279712 million. APB Resources Berhad has filed a Follow-on Equity Offering in the amount of MYR 3.279712 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,286,000
Price\Range: MYR 0.2906
Transaction Features: Subsequent Direct Listing Board Change • Nov 14
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 2 highly experienced directors. Director of Prescan Sdn. Bhd. Chin Gan is the most experienced director on the board, commencing their role in 1988. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Nov 01
APB Resources Berhad Announces Resignation of Liaw Way Gian as Executive Director APB Resources Berhad announced resignation of Mr. Liaw Way Gian as Executive Director, age 39, date of change is 01 November 2024. Reason: Due to personal reason and other commitment. New Risk • Oct 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: RM43.5m (US$9.92m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). Market cap is less than US$10m (RM43.5m market cap, or US$9.92m). Board Change • Oct 02
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. 2 highly experienced directors. 2 independent directors (3 non-independent directors). Director of Prescan Sdn. Bhd. Chin Gan is the most experienced director on the board, commencing their role in 1988. Independent Non-Executive Director Chong Ku was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Sep 25
APB Resources Berhad Announces Appointment of Cha Weay Chia as Non Executive Chairman APB Resources Berhad announced appointment of Mr. Cha Weay Chia as Non Executive Chairman. Date of change is 25 September 2024. Age is 49. Directorate is Non Independent and Non Executive. Qualifications: Degree in Economics from University of Malaya. Financial Planning from Malaysian Financial Planning Council - Registered Financial Planner. Working experience and occupation: Mr. Cha Weay Chia brings over 25 years of distinguished experience as a Financial Advisor, specializing in providing strategic financial guidance to a diverse clientele that includes entrepreneurs, business owners, professionals, and High-Net-Worth Individuals (HNWI). His credentials as a Registered Financial Planner (RFP), alongside his Capital Markets Services Representative's License from the Securities Commission Malaysia, underscore his deep understanding of the financial landscape. Mr. Cha holds an honors degree majoring in Economics from the University of Malaya, which further enriches his expertise in economic and financial analysis. Throughout his career, Mr. Cha has consistently demonstrated a commitment to excellence, achieving numerous awards and setting records in the insurance sector, even amidst the challenges presented by the pandemic. His role as an international speaker and coach has allowed him to share his insights across various platforms, contributing to the growth and knowledge of industry professionals. Announcement • Sep 23
APB Resources Berhad Announces Cessation of Tan Teik Hsiung as Independent and Non Executive Member of Audit Committee APB Resources Berhad announced cessation of Mr. Tan Teik Hsiung as Independent and Non Executive Member of Audit Committee. Date of change is 23 September 2024. Age is 48. Composition of Audit Committee (Name and Directorate of members after change):- Chairman of Audit Committee - Ku Chong Hong, Independent Non-Executive Director, Member of Audit Committee - Dr. Dang Nguk Ling, Independent Non-Executive Director. New Risk • Sep 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Malaysian stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (RM80.1m market cap, or US$18.8m). Reported Earnings • Aug 05
Full year 2024 earnings released: RM0.19 loss per share (vs RM0.094 profit in FY 2023) Full year 2024 results: RM0.19 loss per share (down from RM0.094 profit in FY 2023). Revenue: RM76.3m (flat on FY 2023). Net loss: RM21.2m (down 303% from profit in FY 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Announcement • Jul 31
APB Resources Berhad, Annual General Meeting, Sep 23, 2024 APB Resources Berhad, Annual General Meeting, Sep 23, 2024, at 10:30 Singapore Standard Time. Location: b-21-1, level 21, tower b, northpoint mid valley city, no. 1, medan syed putra utara, 59200 kuala lumpur Malaysia New Risk • Jun 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Minor Risk Market cap is less than US$100m (RM202.0m market cap, or US$43.0m). Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to RM2.05, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 21x in the Machinery industry in Malaysia. Total returns to shareholders of 349% over the past three years. Announcement • Dec 15
APB Resources Berhad Appoints Ku Chong Hong as Independent and Non Executive Director APB Resources Berhad appointed Mr. Ku Chong Hong, aged 35, as Independent and Non Executive Director, effective December 14, 2023. Mr. Ku Chong Hong began his career in auditing with several audit firms before joining Grant Thornton Malaysia as an Audit Senior Manager in 2017. Throughout his career as an auditor for more than nine years, he gained vast exposure in audit and assurance and business advisory-related fields through his portfolios of various local and international companies involved in a broad spectrum of industries such as property development, construction, manufacturing, trading, poultry, agriculture, aquaculture, service provider, trading of software and real estate. He previously held the position of Chief Financial Officer and Independent Non Executive Director in several public listed companies. Currently, he is the Group Managing Director/Chief Executive Officer of Sarawak Consolidated Industries Berhad. New Risk • Dec 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 30% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. High level of non-cash earnings (30% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (7.6% net profit margin). Market cap is less than US$100m (RM269.5m market cap, or US$57.7m). 
