Reported Earnings • Jul 31
Full year 2026 earnings released: EPS: RM0.045 (vs RM0.052 in FY 2025) Full year 2026 results: EPS: RM0.045 (down from RM0.052 in FY 2025). Revenue: RM1.26b (up 14% from FY 2025). Net income: RM23.3m (down 11% from FY 2025). Profit margin: 1.8% (down from 2.4% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jul 28
Pansar Berhad, Annual General Meeting, Aug 27, 2026 Pansar Berhad, Annual General Meeting, Aug 27, 2026, at 09:00 Singapore Standard Time. Location: tanahmas hotel, lot 277 block 5, jalan kampung nyabor, 96007 sibu sarawak, Malaysia Declared Dividend • Jul 17
Dividend of RM0.0025 announced Shareholders will receive a dividend of RM0.0025. Ex-date: 27th August 2026 Payment date: 24th September 2026 Dividend yield will be 0.5%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 11%. Cash payout ratio: 3%. Reported Earnings • May 29
Full year 2026 earnings released: EPS: RM0.043 (vs RM0.052 in FY 2025) Full year 2026 results: EPS: RM0.043 (down from RM0.052 in FY 2025). Revenue: RM1.26b (up 14% from FY 2025). Net income: RM22.4m (down 14% from FY 2025). Profit margin: 1.8% (down from 2.4% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Apr 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (RM337.1m market cap, or US$85.3m). Reported Earnings • Feb 25
Third quarter 2026 earnings released: EPS: RM0.018 (vs RM0.018 in 3Q 2025) Third quarter 2026 results: EPS: RM0.018 (in line with 3Q 2025). Revenue: RM355.8m (up 15% from 3Q 2025). Net income: RM9.25m (flat on 3Q 2025). Profit margin: 2.6% (down from 3.0% in 3Q 2025). The decrease in margin was driven by higher expenses. 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 4% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 26
Second quarter 2026 earnings released: EPS: RM0.011 (vs RM0.016 in 2Q 2025) Second quarter 2026 results: EPS: RM0.011 (down from RM0.016 in 2Q 2025). Revenue: RM341.7m (up 30% from 2Q 2025). Net income: RM5.51m (down 33% from 2Q 2025). Profit margin: 1.6% (down from 3.1% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 01
Full year 2025 earnings released: EPS: RM0.052 (vs RM0.047 in FY 2024) Full year 2025 results: EPS: RM0.052 (up from RM0.047 in FY 2024). Revenue: RM1.10b (up 6.5% from FY 2024). Net income: RM26.1m (up 19% from FY 2024). Profit margin: 2.4% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jul 29
Pansar Berhad, Annual General Meeting, Aug 28, 2025 Pansar Berhad, Annual General Meeting, Aug 28, 2025, at 10:00 Singapore Standard Time. Location: tanahmas hotel, jalan kampung nyabor, sibu, sarawak, Malaysia Declared Dividend • Jul 20
Dividend increased to RM0.005 Dividend of RM0.005 is 25% higher than last year. Ex-date: 28th August 2025 Payment date: 26th September 2025 Dividend yield will be 0.9%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 8%. Cash payout ratio: 13%. Reported Earnings • May 29
Full year 2025 earnings released: EPS: RM0.052 (vs RM0.047 in FY 2024) Full year 2025 results: EPS: RM0.052 (up from RM0.047 in FY 2024). Revenue: RM1.10b (up 6.2% from FY 2024). Net income: RM26.2m (up 20% from FY 2024). Profit margin: 2.4% (up from 2.1% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 01
Third quarter 2025 earnings released: EPS: RM0.018 (vs RM0.016 in 3Q 2024) Third quarter 2025 results: EPS: RM0.018 (up from RM0.016 in 3Q 2024). Revenue: RM309.9m (up 21% from 3Q 2024). Net income: RM9.18m (up 25% from 3Q 2024). Profit margin: 3.0% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 26
Second quarter 2025 earnings released: EPS: RM0.016 (vs RM0.014 in 2Q 2024) Second quarter 2025 results: EPS: RM0.016 (up from RM0.014 in 2Q 2024). Revenue: RM263.4m (down 6.7% from 2Q 2024). Net income: RM8.25m (up 30% from 2Q 2024). Profit margin: 3.1% (up from 2.3% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 04
Full year 2024 earnings released: EPS: RM0.047 (vs RM0.019 in FY 2023) Full year 2024 results: EPS: RM0.047 (up from RM0.019 in FY 2023). Revenue: RM1.04b (up 26% from FY 2023). Net income: RM21.8m (up 150% from FY 2023). Profit margin: 2.1% (up from 1.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jul 30
Pansar Berhad, Annual General Meeting, Aug 28, 2024 Pansar Berhad, Annual General Meeting, Aug 28, 2024, at 10:00 Singapore Standard Time. Location: tanahmas hotel, jalan kampung nyabor, sibu, sarawak, Malaysia Declared Dividend • Jul 26
Dividend increased to RM0.004 Dividend of RM0.004 is 14% higher than last year. Ex-date: 29th August 2024 Payment date: 27th September 2024 Dividend yield will be 0.7%, which is lower than the industry average of 1.8%. Payout Ratios Payout ratio: 7%. Cash payout ratio: 21%. Announcement • Jul 24
Pansar Berhad Announces Interim Single Tier Dividend for the Financial Year Ended 31 March 2024, Payable on 27 September 2024 The board of directors of Pansar Berhad announced an interim single tier dividend of 0.40 cent per ordinary share in respect of the financial year ended 31 March 2024 has been declared payable on 27 September 2024 to the shareholders whose names appear in the Record of Depositors at the close of business on 30 August 2024. Reported Earnings • May 25
Full year 2024 earnings released: EPS: RM0.047 (vs RM0.019 in FY 2023) Full year 2024 results: EPS: RM0.047 (up from RM0.019 in FY 2023). Revenue: RM1.04b (up 26% from FY 2023). Net income: RM21.9m (up 151% from FY 2023). Profit margin: 2.1% (up from 1.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 27
Third quarter 2024 earnings released: EPS: RM0.016 (vs RM0.005 in 3Q 2023) Third quarter 2024 results: EPS: RM0.016 (up from RM0.005 in 3Q 2023). Revenue: RM256.6m (up 20% from 3Q 2023). Net income: RM7.36m (up 210% from 3Q 2023). Profit margin: 2.9% (up from 1.1% in 3Q 2023). The increase in margin was driven by higher revenue. 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 9% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Second quarter 2024 earnings released: EPS: RM0.014 (vs RM0.007 in 2Q 2023) Second quarter 2024 results: EPS: RM0.014 (up from RM0.007 in 2Q 2023). Revenue: RM282.3m (up 42% from 2Q 2023). Net income: RM6.37m (up 102% from 2Q 2023). Profit margin: 2.3% (up from 1.6% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Jul 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 23% 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: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Earnings have declined by 7.7% per year over the past 5 years. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (RM270.1m market cap, or US$59.3m). Reported Earnings • Jul 28
Full year 2023 earnings released: EPS: RM0.019 (vs RM0.002 in FY 2022) Full year 2023 results: EPS: RM0.019 (up from RM0.002 in FY 2022). Revenue: RM824.9m (up 37% from FY 2022). Net income: RM8.72m (up RM7.80m from FY 2022). Profit margin: 1.1% (up from 0.2% in FY 2022). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Jul 26
Pansar Berhad, Annual General Meeting, Aug 24, 2023 Pansar Berhad, Annual General Meeting, Aug 24, 2023, at 10:00 Singapore Standard Time. Location: Tanahmas Hotel, Jalan Kampung Nyabor Sibu Sarawak Malaysia Agenda: To receive the Audited Financial Statements of the Company for the financial year ended 31 March 2023 together with the Reports of the Directors and Auditors thereon; to approve the payment of Directors' fees for the financial year ended 31 March 2023; to approve the payment of Directors' meeting attendance allowance and any other benefits; to re-elect the Directors; to re-elect Ms. Perpetua Phang who retires pursuant to Clause 90 of the Company's Constitution, and being eligible offers herself for re-election; to re-appoint Messrs. Crowe Malaysia PLT as Auditors of the Company for the ensuing year and to authorize the Board of Directors to fix their remuneration; to consider authority to Issue and Allot Shares of the Company Pursuant to Sections 75 and 76 of the Companies Act 2016; and to transact other matters. Announcement • Jul 15
Pansar Berhad Announces Interim Single Tier Dividend in Respect of the Financial Year Ended 31 March 2023, Payable on 29 September 2023 The Board of Directors of Pansar Berhad announced an interim single tier dividend of MYR 0.0035 per ordinary share in respect of the financial year ended 31 March 2023. Payable on 29 September 2023. Ex-Date: 29 August 2023. Entitlement date: 30 August 2023. Announcement • Jun 01
Pansar Berhad Announces Retirement of Mr. Azman Bin Bujang as Independent and Non Executive Member of Risk Committee Pansar Berhad announced retirement of MR AZMAN BIN BUJANG as Independent and Non Executive Member of Risk Committee. Age is 59. Date of change is 31 May 2023. Composition of Risk Committee is Mr. Victor Fong Yoo Kaw @ Fong Yee Kow (Chairman /Independent Non-Executive Director); Mr. Ling Lee Chuon @ James Ling Chung (Member /Independent Non-Executive Director); and Madam Perpetua Phang (Member /Independent Non-Executive Director). Reported Earnings • May 27
Full year 2023 earnings released: EPS: RM0.019 (vs RM0.002 in FY 2022) Full year 2023 results: EPS: RM0.019 (up from RM0.002 in FY 2022). Revenue: RM824.5m (up 37% from FY 2022). Net income: RM8.73m (up RM7.81m from FY 2022). Profit margin: 1.1% (up from 0.2% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • May 27
Pansar Berhad Appoints Madam Perpetua Phang as Independent and Non Executive Director Pansar Berhad announced that the appointment of Madam Perpetua Phang as independent and non executive director of the company. Her age is 66 years. The date of change is May 26, 2023. She joined Reddi & Company, Advocates in 1981 and currently is a senior partner of the firm overseeing the banking, corporate and commercial divisions. She is an Independent Non-Executive Director of Sarawak Oil Palms Berhad. Reported Earnings • Feb 23
Third quarter 2023 earnings released: EPS: RM0.005 (vs RM0.004 in 3Q 2022) Third quarter 2023 results: EPS: RM0.005 (up from RM0.004 in 3Q 2022). Revenue: RM214.5m (up 27% from 3Q 2022). Net income: RM2.37m (up 22% from 3Q 2022). Profit margin: 1.1% (down from 1.2% in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% 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. Reported Earnings • Nov 25
Second quarter 2023 earnings released: EPS: RM0.007 (vs RM0.017 in 2Q 2022) Second quarter 2023 results: EPS: RM0.007 (down from RM0.017 in 2Q 2022). Revenue: RM199.2m (up 22% from 2Q 2022). Net income: RM3.16m (down 59% from 2Q 2022). Profit margin: 1.6% (down from 4.8% in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Board Change • Nov 16
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. No experienced directors. 6 highly experienced directors. Independent Non-Executive Director Victor Fong was the last director to join the board, commencing their role in 2011. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 30
Full year 2022 earnings released: EPS: RM0.002 (vs RM0.023 in FY 2021) Full year 2022 results: EPS: RM0.002 (down from RM0.023 in FY 2021). Revenue: RM601.6m (up 98% from FY 2021). Net income: RM920.6k (down 91% from FY 2021). Profit margin: 0.2% (down from 3.5% in FY 2021). Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • May 31
Full year 2022 earnings released: EPS: RM0.002 (vs RM0.023 in FY 2021) Full year 2022 results: EPS: RM0.002 (down from RM0.023 in FY 2021). Revenue: RM601.3m (up 98% from FY 2021). Net income: RM920.0k (down 91% from FY 2021). Profit margin: 0.2% (down from 3.5% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. 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. No experienced directors. 6 highly experienced directors. Independent Non-Executive Director Victor Fong was the last director to join the board, commencing their role in 2011. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: RM0.004 (down from RM0.016 in 3Q 2021). Revenue: RM168.5m (up 67% from 3Q 2021). Net income: RM1.95m (down 73% from 3Q 2021). Profit margin: 1.2% (down from 7.1% in 3Q 2021). Revenue was in line with analyst estimates. 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 4% per year. Reported Earnings • Nov 28
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: RM0.017 (up from RM0.001 in 2Q 2021). Revenue: RM163.8m (up 125% from 2Q 2021). Net income: RM7.78m (up RM7.18m from 2Q 2021). Profit margin: 4.8% (up from 0.8% in 2Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Aug 09
Full year 2021 earnings released: EPS RM0.023 (vs RM0.016 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: RM304.0m (down 10% from FY 2020). Net income: RM10.7m (up 46% from FY 2020). Profit margin: 3.5% (up from 2.2% in FY 2020). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • May 28
Full year 2021 earnings released: EPS RM0.023 (vs RM0.016 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: RM304.0m (down 10% from FY 2020). Net income: RM10.7m (up 46% from FY 2020). Profit margin: 3.5% (up from 2.2% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Feb 27
Third quarter 2021 earnings released: EPS RM0.016 (vs RM0.006 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: RM100.9m (up 13% from 3Q 2020). Net income: RM7.17m (up 153% from 3Q 2020). Profit margin: 7.1% (up from 3.2% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 24
New 90-day high: RM0.80 The company is up 33% from its price of RM0.60 on 26 November 2020. The Malaysian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: RM0.76 The company is up 11% from its price of RM0.68 on 11 September 2020. The Malaysian market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 14% over the same period. Reported Earnings • Nov 20
Second quarter 2021 earnings released: EPS RM0.001 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM72.6m (down 18% from 2Q 2020). Net income: RM600.0k (down 83% from 2Q 2020). Profit margin: 0.8% (down from 4.1% in 2Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Nov 19
New 90-day low: RM0.58 The company is down 17% from its price of RM0.70 on 21 August 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 11% over the same period. Is New 90 Day High Low • Oct 30
New 90-day low: RM0.60 The company is down 36% from its price of RM0.94 on 30 July 2020. The Malaysian market is down 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 8.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day low: RM0.63 The company is down 30% from its price of RM0.91 on 25 June 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Trade Distributors industry, which is up 19% over the same period. Announcement • Sep 10
Pansar Berhad (KLSE:PANSAR) entered into a conditional share purchase agreement to acquire Perbena Emas Sdn Bhd from PE Holdings Sdn Bhd for approximately MYR 150 million. Pansar Berhad (KLSE:PANSAR) entered into a conditional share purchase agreement to acquire Perbena Emas Sdn Bhd from PE Holdings Sdn Bhd for approximately MYR 150 million on September 9, 2020. Under the terms of the transaction, Pansar Berhad will acquire 15 million ordinary shares of Perbena and consideration of MYR 151 million will be satisfied entirely in cash. Pursuant to the acquisition, save for the obligations and liabilities of Perbena in its ordinary course of business, there are no other liabilities, including contingent liabilities and guarantees, to be assumed by Pansar. Post-transaction, Pansar will hold the entire equity interest in Perbena. In a related transactions, Pansar Berhad will also undertake a rights issue of 346.5 million convertible preference shares (RCPS) in Pansar (rights issue), diversification of the principal activities of Pansar and its subsidiaries to include construction and civil engineering (diversification) and amendments to the constitution of Pansar Berhad.
The transaction will be funded through a combination of proceeds raised from the proposed rights issue of MYR 120 million and bank borrowings of MYR 31 million. Pansar does not expect to incur any additional financial commitment to put the assets and/or business of Perbena on stream. Post-transaction, Perbena Pansar Berhad shall become a wholly owned subsidiary of Pansar Berhad. For the financial year ended March 31, 2020, Perbena Emas Sdn Bhd had revenue of MYR 140.8 million, profit after tax of MYR 8.8 million and shareholders’ funds of MYR 118.6 million.
The transaction is subject to rights issue, diversification, satisfactory completion of due diligence on Perbena, approvals of Perbena’s shareholders, approval of Bursa Securities for the admission of the RCPS to the official list of Bursa Securities, listing of and quotation for the RCPS and new ordinary shares to be issued pursuant to conversion of the RCPS, receipt and acceptance by Perbena of a letter of commitment/letter of offer from a licensed bank in respect of facilities for MYR 31 million for part payment of the consideration, approval or consent of the creditors, relevant authorities (including but not limited to the Construction Industry Development Board and Ministry of Finance). The Board of Directors and Audit Committee (save for James Ling who is an Interested Director), is of the opinion that the transaction is fair, reasonable and on normal commercial terms, is in the best interest and not detrimental to the interest of the non-interested shareholders of Pansar Berhad. The transaction is expected to be completed by the first quarter of 2021. The transaction will not have any effect on the issued share capital, gearing, net assets per share, earnings, earnings per share and substantial shareholders’ shareholdings of Pansar.
FHMH Corporate Advisory Sdn Bhd acted as the financial advisor for the non-interested Directors and non-interested shareholders of Pansar Berhad. UOB Kay Hian Securities (M) Sdn acted as the principal financial advisor for Pansar Berhad. 
