Buy Or Sell Opportunity • May 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to RM0.67. The fair value is estimated to be RM0.84, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Announcement • Apr 29
Kumpulan Kitacon Berhad, Annual General Meeting, Jun 23, 2026 Kumpulan Kitacon Berhad, Annual General Meeting, Jun 23, 2026, at 11:00 Singapore Standard Time. Location: mauna lani i, hilton shah alam glenmarie, no. 1, jalan usahawan u1/8, seksyen u1, 40250 shah alam, selangor darul ehsan, Malaysia Buy Or Sell Opportunity • Mar 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 2.1% to RM0.70. The fair value is estimated to be RM0.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Buy Or Sell Opportunity • Mar 04
Now 22% undervalued The stock has been flat over the last 90 days, currently trading at RM0.70. The fair value is estimated to be RM0.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 16%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 7.9% per annum over the same time period. Declared Dividend • Feb 26
Dividend of RM0.01 announced Dividend of RM0.01 is the same as last year. Ex-date: 10th March 2026 Payment date: 31st March 2026 Dividend yield will be 4.2%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 25
Full year 2025 earnings released: EPS: RM0.10 (vs RM0.11 in FY 2024) Full year 2025 results: EPS: RM0.10 (down from RM0.11 in FY 2024). Revenue: RM803.3m (down 15% from FY 2024). Net income: RM51.5m (down 2.4% from FY 2024). Profit margin: 6.4% (up from 5.6% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.1% 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 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Nov 28
Kumpulan Kitacon Berhad Declares Second Interim Dividend in Respect of Financial Year Ending 31 December 2025, Payable on 22 December 2025 On 25 November 2025, the Board of Directors of Kumpulan Kitacon Berhad has declared a second interim dividend of 1.0 sen per ordinary share amounting to approximately MYR 5 million in respect of financial year ending 31 December 2025. The proposed entitlement date and payment date are on 10 December 2025 and 22 December 2025 respectively. Ex-Date is 9 December 2025. Declared Dividend • Nov 27
Dividend of RM0.01 announced Dividend of RM0.01 is the same as last year. Ex-date: 9th December 2025 Payment date: 22nd December 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 36 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 26% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 26
Third quarter 2025 earnings released: EPS: RM0.025 (vs RM0.028 in 3Q 2024) Third quarter 2025 results: EPS: RM0.025 (down from RM0.028 in 3Q 2024). Revenue: RM210.3m (down 15% from 3Q 2024). Net income: RM12.7m (down 10% from 3Q 2024). Profit margin: 6.0% (up from 5.7% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Construction industry in Malaysia. Declared Dividend • Sep 22
Dividend of RM0.01 announced Dividend of RM0.01 is the same as last year. Ex-date: 25th September 2025 Payment date: 10th October 2025 Dividend yield will be 4.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (15% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Sep 18
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 25 September 2025. Payment date: 10 October 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 4.2%. Lower than top quartile of Malaysian dividend payers (5.5%). Higher than average of industry peers (2.2%). Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: RM0.025 (vs RM0.025 in 2Q 2024) Second quarter 2025 results: EPS: RM0.025 (in line with 2Q 2024). Revenue: RM202.4m (down 18% from 2Q 2024). Net income: RM12.7m (flat on 2Q 2024). Profit margin: 6.3% (up from 5.1% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Construction industry in Malaysia. Declared Dividend • Aug 30
Dividend of RM0.01 announced Dividend of RM0.01 is the same as last year. Ex-date: 25th September 2025 Payment date: 10th October 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (27% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 36% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 21
First quarter 2025 earnings released: EPS: RM0.028 (vs RM0.023 in 1Q 2024) First quarter 2025 results: EPS: RM0.028 (up from RM0.023 in 1Q 2024). Revenue: RM210.9m (down 6.3% from 1Q 2024). Net income: RM13.8m (up 21% from 1Q 2024). Profit margin: 6.5% (up from 5.0% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Malaysia. Announcement • Apr 30
Kumpulan Kitacon Berhad, Annual General Meeting, Jun 24, 2025 Kumpulan Kitacon Berhad, Annual General Meeting, Jun 24, 2025, at 11:00 Singapore Standard Time. Location: ballroom 3 @ level 10, courtyard by marriot setia alam, no. 6, jalan setia dagang ah u13/ah, setia alam, seksyen u13, 40170 shah alam, selangor darul ehsan, Malaysia New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings have declined by 3.0% 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 Risk Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (RM355.0m market cap, or US$79.9m). Declared Dividend • Feb 22
Dividend of RM0.01 announced Shareholders will receive a dividend of RM0.01. Ex-date: 12th March 2025 Payment date: 27th March 2025 Dividend yield will be 4.0%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (42% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has decreased over the past 26 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 25% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 21
Full year 2024 earnings released: EPS: RM0.10 (vs RM0.073 in FY 2023) Full year 2024 results: EPS: RM0.10 (up from RM0.073 in FY 2023). Revenue: RM937.4m (up 20% from FY 2023). Net income: RM51.9m (up 43% from FY 2023). Profit margin: 5.5% (up from 4.7% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Construction industry in Malaysia. Upcoming Dividend • Dec 02
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 09 December 2024. Payment date: 24 December 2024. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (5.0%). In line with average of industry peers (2.5%). Announcement • Nov 29
Kumpulan Kitacon Berhad Announces Second Interim Dividend in Respect of the Financial Year Ending December 31, 2024, Payable on December 24, 2024 Kumpulan Kitacon Berhad announced second single-tier interim dividend of 1.0 sen per ordinary share in respect of the financial year ending December 31, 2024. Ex-date is December 9, 2024, entitlement date is December 10, 2024 and payment date is December 24, 2024. Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: RM0.028 (vs RM0.015 in 3Q 2023) Third quarter 2024 results: EPS: RM0.028 (up from RM0.015 in 3Q 2023). Revenue: RM247.6m (up 13% from 3Q 2023). Net income: RM14.1m (up 92% from 3Q 2023). Profit margin: 5.7% (up from 3.4% in 3Q 2023). The increase in margin was driven by higher revenue. Upcoming Dividend • Sep 19
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 26 September 2024. Payment date: 11 October 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.5%. Lower than top quartile of Malaysian dividend payers (4.7%). In line with average of industry peers (2.5%). Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0.025 (vs RM0.018 in 2Q 2023) Second quarter 2024 results: EPS: RM0.025 (up from RM0.018 in 2Q 2023). Revenue: RM247.1m (up 29% from 2Q 2023). Net income: RM12.7m (up 39% from 2Q 2023). Profit margin: 5.1% (up from 4.8% in 2Q 2023). The increase in margin was driven by higher revenue. Announcement • Aug 27
Kumpulan Kitacon Berhad Announces First Single-Tier Interim Dividend in Respect of the Financial Year Ended 31 December 2024, Payable October 11, 2024 Kumpulan Kitacon Berhad announced First Single-Tier Interim Dividend of 1.0 sen per ordinary share in respect of the financial year ended 31 December 2024. Ex-Date: 26 September 2024, Payment Date: 11 October 2024, Entitlement date 27 September 2024. Announcement • Jun 26
Kumpulan Kitacon Berhad Announces Appointment of Miss Qua Mu Im as Independent and Non Executive Chairman Kumpulan Kitacon Berhad announced appointment of MISS QUA MU IM as Independent and Non Executive Chairman. Date of change is June 26, 2024. Age is 74. Qualifications includes Diploma in PUBLIC RELATIONS from IPRM-CAM, Professional Qualification in CERTIFIED FINANCIAL CONSULTANT from MII-THE AMERICAN COLLEGE OFFINANCIAL SERVICES, Professional Qualification in CHARTERED LIFE UNDERWRITER (CLU) from MII-THE AMERICAN COLLEGE OFFINANCIAL SERVICES and LIFE UNDERWRITER TRAINING COUNCIL FELLOW (LUTCF) from MII-LUTCF. Working experience and occupation: Ms. Qua Mu Im, 74, brings extensive leadership and organizational development experience from both corporate and non-profit sectors. She began her career as a Marketing Researcher at Jebsen & Jessen (M) Sdn Bhd, rising to General Manager of its subsidiary, Tiga Ikan (M) Sdn. Bhd., for over a decade (1972 1982). She then transitioned into the Insurance and Financial Services industry, where she spent 24 years (1983 2007), including 18 years in Life Insurance, becoming the first woman in the country to gain Life Membership of the Million Dollar Round Table (MDRT). She was instrumental in setting up the High Net Worth division for AIA in Hong Kong and served as COO of OSK Wealth Planners Sdn Bhd until her retirement in 2007. Ms. Qua holds certifications as an MII-Fellow, Chartered Life Underwriter, and Chartered Financial Consultant. After retiring from financial services, she served as the Executive Secretary and later Private Education Director for The Methodist Church in Malaysia, overseeing strategic development and expansion projects, including the commissioning of new schools. Her community service includes serving as the First Lady President of the Kiwanis Club, Subang, and as President of AFS Malaysia (Antara Budaya Malaysia). She has held various roles on boards, including the Methodist Boys School, Kuala Lumpur, and currently, the Vocational Training Opportunity Centre (VTOC) of Young Womens' Christian Association (YWCA) since 2023. Reported Earnings • May 29
First quarter 2024 earnings released: EPS: RM0.023 (vs RM0.021 in 1Q 2023) First quarter 2024 results: EPS: RM0.023 (up from RM0.021 in 1Q 2023). Revenue: RM225.2m (up 39% from 1Q 2023). Net income: RM11.3m (up 6.8% from 1Q 2023). Profit margin: 5.0% (down from 6.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Construction industry in Malaysia. Announcement • May 01
Kumpulan Kitacon Berhad, Annual General Meeting, Jun 25, 2024 Kumpulan Kitacon Berhad, Annual General Meeting, Jun 25, 2024, at 11:00 Singapore Standard Time. Location: Ballroom 2 @ Level 10, Courtyard by Marriot Setia Alam, No. 6 JalanSetia Dagang AH U13/AH, Setia Alam, Seksyen U13, 40170 Shah Alam SELANGOR DARUL EHSAN Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Directors's and Auditors's Reports thereon; to consider re-elect of Directors; to approve the payment of Directors's fees to the Independent Non-Executive Directors and the Non-Independent Non-Executive Director for the financial year ending 31 December 2024; to approve the payment of Directors's benefits for the period from the conclusion of the 2nd AGM until the next AGM to be held in 2025; to re-appoint Crowe Malaysia PLT as Auditors for the upcoming year and to authorize the Directors to fix their remuneration; and to consider other business issues. Upcoming Dividend • Mar 08
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 15 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of Malaysian dividend payers (4.7%). Higher than average of industry peers (2.6%). Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: RM0.073 (vs RM0.095 in FY 2022) Full year 2023 results: EPS: RM0.073 (down from RM0.095 in FY 2022). Revenue: RM780.9m (up 60% from FY 2022). Net income: RM36.4m (down 9.8% from FY 2022). Profit margin: 4.7% (down from 8.3% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Construction industry in Malaysia. Reported Earnings • Nov 22
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: RM219.1m (up 89% from 3Q 2022). Net income: RM7.36m (down 14% from 3Q 2022). Profit margin: 3.4% (down from 7.3% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Construction industry in Malaysia. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: RM0.018 (vs RM0.43 in 2Q 2022) Second quarter 2023 results: EPS: RM0.018 (down from RM0.43 in 2Q 2022). Revenue: RM191.0m (up 63% from 2Q 2022). Net income: RM9.11m (down 30% from 2Q 2022). Profit margin: 4.8% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Announcement • May 24
Kumpulan Kitacon Berhad Announces the First Single-Tier Interim Dividend for the Financial Year Ending 31 December 2023, Payable on 13 July 2023 Kumpulan Kitacon Berhad announced the first Single-Tier Interim Dividend of 1.0 sen per ordinary share in respect of the financial year ending 31 December 2023. Ex-Date is 20 June 2023, Entitlement date is 21 June 2023 and Payment Date is 13 July 2023. Reported Earnings • May 24
First quarter 2023 earnings released: EPS: RM0.021 (vs RM0.43 in 1Q 2022) First quarter 2023 results: EPS: RM0.021 (down from RM0.43 in 1Q 2022). Revenue: RM161.5m (up 38% from 1Q 2022). Net income: RM10.6m (down 19% from 1Q 2022). Profit margin: 6.6% (down from 11% in 1Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: RM0.084 (vs RM1.39 in FY 2021) Full year 2022 results: EPS: RM0.084. Revenue: RM488.5m (up 7.2% from FY 2021). Net income: RM41.9m (flat on FY 2021). Profit margin: 8.6% (down from 9.2% in FY 2021). The decrease in margin was driven by higher expenses. Reported Earnings • Jan 18
Third quarter 2022 earnings released: EPS: RM0.017 (vs RM0.26 in 3Q 2021) Third quarter 2022 results: EPS: RM0.017 (down from RM0.26 in 3Q 2021). Revenue: RM116.1m (up 7.1% from 3Q 2021). Net income: RM8.53m (down 17% from 3Q 2021). Profit margin: 7.3% (down from 9.4% in 3Q 2021). The decrease in margin was driven by higher expenses. 
