Upcoming Dividend • Jul 07
Upcoming dividend of RM0.013 per share Eligible shareholders must have bought the stock before 14 July 2026. Payment date: 05 August 2026. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 6.0%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (3.1%). Announcement • Jun 19
MGB Berhad Declares Final Single Tier Dividend for the Financial Year Ended 31 December 2025 MGB Berhad at its AGM held on 19 June 2026, approved a final single tier dividend of MYR 0.0131 per share in respect of the financial year ended 31 December 2025. Reported Earnings • May 17
First quarter 2026 earnings released: EPS: RM0.024 (vs RM0.02 in 1Q 2025) First quarter 2026 results: EPS: RM0.024 (up from RM0.02 in 1Q 2025). Revenue: RM210.1m (down 7.7% from 1Q 2025). Net income: RM14.1m (up 19% from 1Q 2025). Profit margin: 6.7% (up from 5.2% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 19% 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 17% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Declared Dividend • May 01
Final dividend reduced to RM0.013 Dividend of RM0.013 is 15% lower than last year. Ex-date: 14th July 2026 Payment date: 5th August 2026 Dividend yield will be 5.9%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (33% 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 35% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 32% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 29
MGB Berhad, Annual General Meeting, Jun 19, 2026 MGB Berhad, Annual General Meeting, Jun 19, 2026, at 14:30 Singapore Standard Time. Location: function room, level 5, plaza seri setia, no. 1, jalan ss9/2, 47300 petaling jaya, selangor darul ehsan, Malaysia Upcoming Dividend • Mar 02
Upcoming dividend of RM0.013 per share Eligible shareholders must have bought the stock before 09 March 2026. Payment date: 30 March 2026. Payout ratio is a comfortable 33% but the company is not cash flow positive. Trailing yield: 5.8%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (2.8%). Buy Or Sell Opportunity • Feb 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to RM0.49. The fair value is estimated to be RM0.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 21% per annum. Earnings are also forecast to grow by 8.4% per annum over the same time period. Price Target Changed • Feb 16
Price target decreased by 7.0% to RM0.84 Down from RM0.90, the current price target is an average from 3 analysts. New target price is 74% above last closing price of RM0.48. Stock is down 31% over the past year. The company is forecast to post earnings per share of RM0.098 for next year compared to RM0.085 last year. Declared Dividend • Feb 16
Final dividend reduced to RM0.013 Dividend of RM0.013 is 17% lower than last year. Ex-date: 9th March 2026 Payment date: 30th March 2026 Dividend yield will be 5.8%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is covered by earnings (18% 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 38% per year over the past 4 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 14
MGB Berhad Announces First Interim Single Tier Dividend for the Financial Year Ended 31 December 2025, Payable on 30 March 2026 MGB Berhad announced First Interim Single Tier Dividend of MYR 0.0126 per share in respect of the financial year ended 31 December 2025. Ex-Date 09 March 2026. Payment Date is 30 March 2026. Entitlement date 10 Mar 2026. Reported Earnings • Nov 20
Third quarter 2025 earnings released: EPS: RM0.021 (vs RM0.028 in 3Q 2024) Third quarter 2025 results: EPS: RM0.021 (down from RM0.028 in 3Q 2024). Revenue: RM227.2m (down 21% from 3Q 2024). Net income: RM12.3m (down 24% from 3Q 2024). Profit margin: 5.4% (down from 5.6% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% 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 33% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 25
Price target decreased by 12% to RM0.91 Down from RM1.04, the current price target is an average from 3 analysts. New target price is 94% above last closing price of RM0.47. Stock is down 42% over the past year. The company is forecast to post earnings per share of RM0.088 for next year compared to RM0.10 last year. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: RM0.02 (vs RM0.026 in 2Q 2024) Second quarter 2025 results: EPS: RM0.02 (down from RM0.026 in 2Q 2024). Revenue: RM216.4m (down 19% from 2Q 2024). Net income: RM11.9m (down 22% from 2Q 2024). Profit margin: 5.5% (down from 5.7% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% 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 39% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 07
Upcoming dividend of RM0.015 per share Eligible shareholders must have bought the stock before 14 July 2025. Payment date: 05 August 2025. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Malaysian dividend payers (5.5%). Higher than average of industry peers (2.4%). Announcement • Jun 26
MGB Berhad Approves Final Single Tier Dividend for the Financial Year Ended 31 December 2024 MGB Berhad at its AGM held on June 26, 2025, approved to declare a final single tier dividend of MYR 0.0154 per share in respect of the financial year ended 31 December 2024. Price Target Changed • May 28
Price target decreased by 9.6% to RM1.07 Down from RM1.18, the current price target is an average from 3 analysts. New target price is 69% above last closing price of RM0.63. Stock is down 31% over the past year. The company is forecast to post earnings per share of RM0.11 for next year compared to RM0.10 last year. Announcement • Apr 30
MGB Berhad, Annual General Meeting, Jun 26, 2025 MGB Berhad, Annual General Meeting, Jun 26, 2025, at 10:00 Singapore Standard Time. Location: function room, level 5, plaza seri setia, no. 1, jalan ss9/2, 47300 petaling jaya, selangor darul ehsan, Malaysia Announcement • Apr 10
MGB Berhad Proposes Final Single Tier Dividend for the Financial Year Ended 31 December 2024 The Board of Directors of MGB Berhad proposed a Final Single Tier Dividend of MYR 0.0154 per share in respect of the financial year ended 31 December 2024 subject to the shareholders’ approval at the forthcoming Twenty-Third (23rd) Annual General Meeting of the Company. Declared Dividend • Feb 20
Final dividend of RM0.015 announced Shareholders will receive a dividend of RM0.015. Ex-date: 7th March 2025 Payment date: 28th March 2025 Dividend yield will be 3.4%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 25% per year over the past 3 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 19
Full year 2024 earnings released: EPS: RM0.10 (vs RM0.081 in FY 2023) Full year 2024 results: EPS: RM0.10 (up from RM0.081 in FY 2023). Revenue: RM1.03b (up 6.2% from FY 2023). Net income: RM60.1m (up 25% from FY 2023). Profit margin: 5.8% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% 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 38% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 18
MGB Berhad Announces Changes in the Dividend Policy The Board of Directors of MGB Berhad announced that, as part of the Company’s continuous effort to retain its shareholders and express appreciation for their support towards the Company’s growth, the Board has approved a revision to its Dividend Policy. Under the revised policy, the Company will declare and pay a minimum dividend of 30% of it’s Profit after Taxation and Minority Interest based on ordinary operation profits for each financial year. The ability of the Company to pay dividends or make other distributions to its shareholders is subject to various factors including but not limited to the followings: The level of MGB available cash, gearing, return on equity and retained earnings; MGB expected financial performance; MGB projected levels of capital expenditure and other investment plans; MGB working capital requirements; and MGB existing and future debt obligations. New Risk • Nov 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM437.8m (US$98.2m) This is considered a minor 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: 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 (RM437.8m market cap, or US$98.2m). Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: RM0.028 (vs RM0.021 in 3Q 2023) Third quarter 2024 results: EPS: RM0.028 (up from RM0.021 in 3Q 2023). Revenue: RM289.2m (up 13% from 3Q 2023). Net income: RM16.3m (up 32% from 3Q 2023). Profit margin: 5.6% (up from 4.8% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 15% 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 35% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 20
Second quarter 2024 earnings released: EPS: RM0.026 (vs RM0.02 in 2Q 2023) Second quarter 2024 results: EPS: RM0.026 (up from RM0.02 in 2Q 2023). Revenue: RM268.0m (up 15% from 2Q 2023). Net income: RM15.2m (up 27% from 2Q 2023). Profit margin: 5.7% (up from 5.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% 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 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jun 14
Mgb Berhad Declare A Final Single Tier Dividend in Respect of the Financial Year Ended 31 December 2023 MGB Berhad announced at the AGM held on June 13, 2024, approved to declare a final single tier dividend of MYR 0.00818 per share in respect of the financial year ended 31 December 2023. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: RM0.024 (vs RM0.02 in 1Q 2023) First quarter 2024 results: EPS: RM0.024 (up from RM0.02 in 1Q 2023). Revenue: RM217.9m (up 23% from 1Q 2023). Net income: RM14.2m (up 18% from 1Q 2023). Profit margin: 6.5% (down from 6.8% in 1Q 2023). 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 9.0% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • May 01
Final dividend increased to RM0.0082 Dividend of RM0.0082 is 227% higher than last year. Ex-date: 27th June 2024 Payment date: 23rd July 2024 Dividend yield will be 2.0%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 12% per year over the past 2 years. However, payments have been volatile during that time. EPS is expected to grow by 46% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 01
MGB Berhad, Annual General Meeting, Jun 13, 2024 MGB Berhad, Annual General Meeting, Jun 13, 2024, at 10:00 Singapore Standard Time. Location: Function Room, Level 5, Plaza Seri Setia,No. 1, Jalan SS9/2, 47300 Petaling Jaya SELANGOR DARUL EHSAN Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Reports of the Directors and Auditors thereon; to approve the payment of Directors' Fees and allowance of RM157,522.88 to the Independent Non-Executive Directors in respect of the financial year ended 31 December 2023; to approve the payment of Directors' Fees and benefits of RM299,128.22 to the Independent Non-Executive Directors in respect of the financial year 2024 until the next annual general meeting of the Company to be held in year 2025; to re-elect Noor Fansyurina binti Muhammad who is retiring in accordance with Clause 95 of the Company's Constitution; and to consider and approve other matters of business. Price Target Changed • Apr 23
Price target increased by 10% to RM1.15 Up from RM1.04, the current price target is an average from 2 analysts. New target price is 43% above last closing price of RM0.80. Stock is up 11% over the past year. The company is forecast to post earnings per share of RM0.10 for next year compared to RM0.082 last year. Buy Or Sell Opportunity • Apr 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to RM0.80. The fair value is estimated to be RM0.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Mar 22
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to RM0.80. The fair value is estimated to be RM0.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 17%. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Feb 21
MGB Berhad Declares First Interim Dividend for the Financial Year Ended 31 December 2023, Payable on March 29, 2024 MGB Berhad declared first interim dividend of MYR 0.00815 per share in respect of the financial year ended 31 December 2023. Ex-Date is March 8, 2024, Entitlement date is March 11, 2024 and payable on March 29, 2024. Declared Dividend • Feb 21
Final dividend of RM0.0081 announced Shareholders will receive a dividend of RM0.0081. Ex-date: 8th March 2024 Payment date: 29th March 2024 Dividend yield will be 1.3%, which is lower than the industry average of 2.6%. Payout Ratios Payout ratio: 4%. Cash payout ratio: 7%. Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: RM0.083 (vs RM0.026 in FY 2022) Full year 2023 results: EPS: RM0.083 (up from RM0.026 in FY 2022). Revenue: RM971.8m (up 59% from FY 2022). Net income: RM48.8m (up 223% from FY 2022). Profit margin: 5.0% (up from 2.5% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average 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 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jan 16
Mgb Berhad Announces Board Changes The Board of Directors of MGB Berhad announced that following the resignation of Dato’ Abdul Majit bin Ahmad Khan as a member of Sustainability Committee (“SC”) of the Company and the appointment of Puan Noor Fansyurina binti Muhammad and Puan Nor Salinun binti Mohd Ghazali as the additional members of the SC, the composition of the SC has been changed as follows with effect from 15 January 2024: Chairman Datuk Lim Lit Chek Executive Director and Chief Executive Officer, Member Datuk Wira Lim Hock Guan, JP Group Managing Director, Member Dato’ Beh Hang Kong Independent Non-Executive Director, Member Nadhirah binti Abdul Karim Independent Non-Executive Director, Member Noor Fansyurina binti Muhammad Independent Non-Executive Director and Member Nor Salinun binti Mohd Ghazali Independent Non-Executive Director. Announcement • Dec 18
MGB Berhad Announces Appointment of Puan Noor Fansyurina Binti Muhammad as Independent and Non Executive Director MGB Berhad announced the appointment of Puan Noor Fansyurina Binti Muhammad as Independent and Non Executive Director. Date of change is December 18, 2023. Age is 43. Working experience and occupation: Puan Noor Fansyurina Binti Muhammad ("Noor Fansyurina"), with a Bachelor of Laws (LLB Hons) from the University of West England, Bristol, United Kingdom, boasts over a decade of professional expertise. Her diverse career spans global labor dynamics, civil engineering, material supply, and agriculture. Over the years, Noor Fansyurina has served on the boards of several private companies, showcasing her adept business management skills gained from active involvement in relevant industries. Notably, she played a pivotal role in managing a civil engineering company, overseeing maintenance work for the Town Council, facilitating landscaping maintenance, and supplying materials to the Ministry of Health. Her specialization, backed by licensing, includes the supply of raw materials and agriculture. Throughout her career, Noor Fansyurina has demonstrated a commitment to excellence and a multifaceted skill set, making her a valuable asset in her professional endeavors. Qualifications: Degree in Bachelor of Laws (LLB Hons) from University of West England, Bristol, United Kingdom. Reported Earnings • Nov 21
Third quarter 2023 earnings released: EPS: RM0.021 (vs RM0.006 in 3Q 2022) Third quarter 2023 results: EPS: RM0.021 (up from RM0.006 in 3Q 2022). Revenue: RM256.1m (up 65% from 3Q 2022). Net income: RM12.3m (up 227% from 3Q 2022). Profit margin: 4.8% (up from 2.4% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average 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 12% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 26
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from RM1.05b to RM1.08b. EPS estimate increased from RM0.06 to RM0.068 per share. Net income forecast to grow 51% next year vs 31% growth forecast for Construction industry in Malaysia. Consensus price target up from RM0.97 to RM1.04. Share price fell 5.4% to RM0.70 over the past week. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: RM0.02 (vs RM0.001 in 2Q 2022) Second quarter 2023 results: EPS: RM0.02 (up from RM0.001 in 2Q 2022). Revenue: RM232.6m (up 74% from 2Q 2022). Net income: RM12.0m (up RM11.5m from 2Q 2022). Profit margin: 5.2% (up from 0.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 18% 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 • Jun 21
MGB Berhad Approves Final Single Tier Dividend in Respect of the Financial Year Ended 31 December 2022 MGB Berhad at its Twenty-First Annual General Meeting held on 20 June 2023, approved a final single tier dividend of MYR 0.00250 per share in respect of the financial year ended 31 December 2022. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: RM0.02 (vs RM0.012 in 1Q 2022) First quarter 2023 results: EPS: RM0.02 (up from RM0.012 in 1Q 2022). Revenue: RM177.8m (flat on 1Q 2022). Net income: RM12.0m (up 68% from 1Q 2022). Profit margin: 6.8% (up from 4.0% in 1Q 2022). Revenue is forecast to grow 25% 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 10% per year whereas the company’s share price has increased by 13% per year. Price Target Changed • Mar 31
Price target increased by 20% to RM0.76 Up from RM0.63, the current price target is an average from 2 analysts. New target price is 10% above last closing price of RM0.69. Stock is down 4.9% over the past year. The company is forecast to post earnings per share of RM0.067 for next year compared to RM0.025 last year. Announcement • Feb 18
MGB Berhad Announces First Interim Single Tier Dividend for the Financial Year Ended 31 December 2022, Payable on 30 March 2023 MGB Berhad announced First Interim Single Tier Dividend of MYR 0.00249 per share in respect of the financial year ended 31 December 2022. The dividend will be payable on 30 March 2023 with Ex-Date of 09 March 2023 and Entitlement date of 10 March 2023. Reported Earnings • Feb 17
Full year 2022 earnings released: EPS: RM0.025 (vs RM0.052 in FY 2021) Full year 2022 results: EPS: RM0.025 (down from RM0.052 in FY 2021). Revenue: RM610.5m (up 2.8% from FY 2021). Net income: RM14.8m (down 46% from FY 2021). Profit margin: 2.4% (down from 4.6% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 35% p.a. on average during the next 2 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 14% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Board Change • Nov 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Nadhirah Binti Abdul Karim was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 19
Second quarter 2022 earnings released: EPS: RM0.001 (vs RM0.009 in 2Q 2021) Second quarter 2022 results: EPS: RM0.001 (down from RM0.009 in 2Q 2021). Revenue: RM133.8m (up 5.7% from 2Q 2021). Net income: RM477.0k (down 89% from 2Q 2021). Profit margin: 0.4% (down from 3.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 97%, compared to a 31% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 04
Consensus EPS estimates fall by 25% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from RM1.09b to RM1.03b. EPS estimate also fell from RM0.08 per share to RM0.06 per share. Net income forecast to grow 54% next year vs 45% growth forecast for Construction industry in Malaysia. Consensus price target down from RM0.78 to RM0.73. Share price was steady at RM0.56 over the past week. Major Estimate Revision • May 24
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from RM1.27b to RM1.09b. EPS estimate fell from RM0.11 to RM0.08 per share. Net income forecast to grow 82% next year vs 49% growth forecast for Construction industry in Malaysia. Consensus price target down from RM1.02 to RM0.78. Share price fell 2.4% to RM0.61 over the past week. Price Target Changed • May 18
Price target decreased to RM0.78 Down from RM1.04, the current price target is an average from 2 analysts. New target price is 24% above last closing price of RM0.63. Stock is down 33% over the past year. The company is forecast to post earnings per share of RM0.11 for next year compared to RM0.052 last year. Reported Earnings • May 18
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: RM0.012 (down from RM0.02 in 1Q 2021). Revenue: RM178.6m (up 6.6% from 1Q 2021). Net income: RM7.14m (down 29% from 1Q 2021). Profit margin: 4.0% (down from 6.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 29%. Over the next year, revenue is forecast to grow 129%, compared to a 31% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • May 02
MGB Berhad, Annual General Meeting, Jun 02, 2022 MGB Berhad, Annual General Meeting, Jun 02, 2022, at 14:30 Singapore Standard Time. Location: Grand Ballroom, Level G Grand Hyatt Kuala Lumpur 12 Jalan Pinang Kaula Lumpur Malaysia Agenda: To consider and receive the Audited Financial Statements for the financial year ended 31 December 2021 together with the Reports of the Directors and Auditors thereon; to consider and approve the payment of Directors' Fees and allowance of MYR 169,450 to the Non-Executive Directors in respect of the financial year ended 31 December 2021; to consider and approve the payment of Directors' benefits of up to MYR 29,700 to the Non-Executive Directors for the period commencing from 15 June 2022 until the next annual general meeting of the Company; to consider and declare a final single tier dividend of MYR 0.00493 per share in respect of the financial year ended 31 December 2021; to consider and re-appoint Messrs UHY as Auditors of the Company and to authorise the Director to fix their remuneration; and to consider other matter also. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Nadhirah binti Abdul Karim was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 12
MGB Berhad Announces Final Single Tier Dividend in Respect of the Financial Year Ended 31 December 2021 The Board of Directors of MGB Berhad announced that the Company is to propose a Final Single Tier Dividend of MYR 0.00493 per share in respect of the financial year ended 31 December 2021 subject to the shareholders’ approval at the forthcoming Twentieth (20th) Annual General Meeting. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Nadhirah binti Abdul Karim was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Non-Executive Director Nadhirah binti Abdul Karim was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 24
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: RM0.052 (up from RM0.028 in FY 2020). Revenue: RM593.8m (up 5.4% from FY 2020). Net income: RM27.0m (up 94% from FY 2020). Profit margin: 4.6% (up from 2.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 29%. Over the next year, revenue is forecast to grow 113%, compared to a 26% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Announcement • Feb 24
MGB Berhad Announces First Interim Single Tier Dividend in Respect of the Financial Year Ended 31 December 2021, Payable on March 30, 2022 MGB Berhad announced first interim single tier dividend of MYR 0.00422 per share in respect of the financial year ended 31 December 2021 with ex-date as March 9, 2022, entitlement date as March 10, 2022 and payable date as March 30, 2022. Announcement • Feb 22
MGB Berhad Announces Appointment of Khoo Wei Lee as Company Secretary MGB Berhad announced appointment of KHOO WEI LEE as Company Secretary. Date of change is February 21, 2022. Board Change • Dec 06
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. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Nadhirah binti Abdul Karim was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 19
Third quarter 2021 earnings released: EPS RM0.004 (vs RM0.011 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM111.1m (down 33% from 3Q 2020). Net income: RM2.09m (down 62% from 3Q 2020). Profit margin: 1.9% (down from 3.4% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS RM0.009 (vs RM0.001 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM126.5m (up 96% from 2Q 2020). Net income: RM4.32m (up RM3.94m from 2Q 2020). Profit margin: 3.4% (up from 0.6% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Executive Departure • Jul 02
Company Secretary and Head of Department of Secretarial, Corporate Affairs & Risk Management Chiou Yeo has left the company On the 25th of June, Chiou Yeo's tenure as Company Secretary and Head of Department of Secretarial, Corporate Affairs & Risk Management ended after 1.4 years in the role. We don't have any record of a personal shareholding under Chiou's name. Chiou is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 4.04 years. Reported Earnings • May 19
First quarter 2021 earnings released: EPS RM0.02 (vs RM0.005 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM167.6m (up 10% from 1Q 2020). Net income: RM10.1m (up 322% from 1Q 2020). Profit margin: 6.0% (up from 1.6% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 15
New 90-day high: RM1.02 The company is up 73% from a price of RM0.59 on 15 December 2020. Outperformed the Malaysian market which is flat over the last 90 days. Exceeded the Construction industry, which is up 1.0% over the same period. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS RM0.028 (vs RM0.027 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM563.3m (down 26% from FY 2019). Net income: RM14.0m (up 3.4% from FY 2019). Profit margin: 2.5% (up from 1.8% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue misses expectations Revenue missed analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 129%, compared to a 19% growth forecast for the Construction industry in Malaysia. Announcement • Feb 19
MGB Berhad's Wholly-Owned Subsidiary MGB Construction & Engineering Sdn. Bhd. Accepts Letter of Award for the Projects The Board of Directors of MGB Berhad announced that on 17 February 2021, MGB Construction & Engineering Sdn. Bhd. ("MGBCE"), a wholly-owned subsidiary of the Company, has accepted a letter of award ("Contract") for the following projects: Developer is Seloka Sinaran Sdn. Bhd. ("SSSB"), with a land title of Part of Lot 115430, Mukim Dengkil, Daerah Sepang, Selangor Darul Ehsan, detail of 2 blocks of 25-storey of Rumah Selangorku Idaman MBI comprising of 1,036 units consists of the following: Block A: Type 1 (1,022 sq.ft.), 468 units (included 2 OKU units). Type 2 (1,000 sq.ft.), 50 units (19 units of RSKU Idaman Khas and 31 units of RSKU Idaman MBI). Block B: Type 1 (1,022 sq.ft.), 468 units (included 2 OKU units). Type 2 (1,000 sq.ft.), 50 units (19 units of RSKU Idaman Khas and 31 units of RSKU Idaman MBI). 1 block of 6-storey of car podium with the following facilities: Multipurpose hall; Prayer room for male & female; Management office; Kindergarden; Public toilet; and TNB substations. 1 unit of guard house, recreation area and 1 refuse chamber. Developer is Kemudi Ehsan Sdn. Bhd., with a land title of ("KESB"). Lot 44928 (previously held under PT 40879), Mukim Ijok, Daerah Kuala Selangor, Selangor Darul Ehsan, details of 2 blocks apartment of Rumah Selangorku Idaman MBI comprising of 1,044 units including 2 units each of OKU and senior citizen. 1 unit of prayer room; 1 unit of multipurpose hall; 1 unit of kindergarden; 1 unit of management office; 1 unit of library room; 1 unit of guard house; and 1 unit of multipurpose court. The contract will increase and enhance the existing order book of the Company and its group of companies. With the contract in hand, the Group's current outstanding order book is of approximately MYR 2.18 billion. Additionally, MGBCE has also accepted letter of award for Project Management Contract from both SSSB and KESB to manage the sales, marketing, credit and administration of the Contract for a total of MYR 58,009,920. Is New 90 Day High Low • Feb 09
New 90-day high: RM0.94 The company is up 38% from its price of RM0.68 on 11 November 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is down 1.0% over the same period. 
