Major Estimate Revision • Jun 04
Consensus revenue estimates fall by 28% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from RM566.1m to RM406.1m. EPS estimate fell from RM0.049 to RM0.028 per share. Net income forecast to grow 43% next year vs 25% growth forecast for Construction industry in Malaysia. Consensus price target down from RM0.42 to RM0.34. Share price rose 3.6% to RM0.29 over the past week. New Risk • May 29
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 23% 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 Risk High level of non-cash earnings (23% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (RM132.0m market cap, or US$33.2m). Declared Dividend • May 02
Dividend increased to RM0.009 Dividend of RM0.009 is 29% higher than last year. Ex-date: 29th June 2026 Payment date: 13th July 2026 Dividend yield will be 3.1%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (16% earnings payout ratio) and cash flows (7% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 30
TRC Synergy Berhad, Annual General Meeting, Jun 24, 2026 TRC Synergy Berhad, Annual General Meeting, Jun 24, 2026, at 10:30 Singapore Standard Time. Location: indah ballroom, flamingo hotel, 5, tasik ampang, jalan hulu kelang, 68000 ampang, selangor, Malaysia Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.033 (vs RM0.027 in FY 2024) Full year 2025 results: EPS: RM0.033 (up from RM0.027 in FY 2024). Revenue: RM416.5m (down 18% from FY 2024). Net income: RM15.3m (up 22% from FY 2024). Profit margin: 3.7% (up from 2.5% in FY 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 28
Third quarter 2025 earnings released: EPS: RM0.007 (vs RM0.007 in 3Q 2024) Third quarter 2025 results: EPS: RM0.007 (in line with 3Q 2024). Revenue: RM93.1m (down 40% from 3Q 2024). Net income: RM3.26m (up 7.0% from 3Q 2024). Profit margin: 3.5% (up from 2.0% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.6% 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 fallen by 37% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: RM0.017 (vs RM0.011 in 2Q 2024) Second quarter 2025 results: EPS: RM0.017 (up from RM0.011 in 2Q 2024). Revenue: RM126.8m (up 19% from 2Q 2024). Net income: RM7.76m (up 45% from 2Q 2024). Profit margin: 6.1% (up from 5.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Construction industry in Malaysia are expected to grow by 15%. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. New Risk • Aug 30
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.2% per year for the foreseeable future. Minor Risk Market cap is less than US$100m (RM160.2m market cap, or US$37.9m). Major Estimate Revision • Aug 29
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from RM0.034 to RM0.039. Revenue forecast unchanged at RM480.2m. Net income forecast to grow 30% next year vs 26% growth forecast for Construction industry in Malaysia. Consensus price target up from RM0.36 to RM0.40. Share price was steady at RM0.34 over the past week. Major Estimate Revision • Jun 05
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from RM0.031 to RM0.034. Revenue forecast steady at RM490.2m. Net income forecast to shrink 1.4% next year vs 30% growth forecast for Construction industry in Malaysia . Consensus price target of RM0.36 unchanged from last update. Share price rose 3.6% to RM0.29 over the past week. Reported Earnings • May 30
First quarter 2025 earnings released: EPS: RM0.011 (vs RM0 in 1Q 2024) First quarter 2025 results: EPS: RM0.011 (up from RM0 in 1Q 2024). Revenue: RM129.3m (up 40% from 1Q 2024). Net income: RM5.33m (up RM5.19m from 1Q 2024). Profit margin: 4.1% (up from 0.2% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% 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 fallen by 19% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Declared Dividend • May 02
Dividend reduced to RM0.007 Dividend of RM0.007 is 42% lower than last year. Ex-date: 26th June 2025 Payment date: 14th July 2025 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (36% 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 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Apr 07
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 7.8% 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 High level of non-cash earnings (25% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (2.6% net profit margin). Market cap is less than US$100m (RM129.6m market cap, or US$28.9m). Reported Earnings • Mar 01
Full year 2024 earnings released: EPS: RM0.027 (vs RM0.054 in FY 2023) Full year 2024 results: EPS: RM0.027 (down from RM0.054 in FY 2023). Revenue: RM493.6m (down 27% from FY 2023). Net income: RM12.7m (down 50% from FY 2023). Profit margin: 2.6% (down from 3.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.4% 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 fallen by 9% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Jan 02
TRC Synergy Berhad Announces Appointment of Puan Puteri Liza Elli Sukma as Independent and Non Executive Director TRC Synergy Berhad announced appointment of Puan Puteri Liza Elli Sukma as Independent and Non Executive Director. Age:57, Gender: female. Nationality: Malaysia. Date of change: January 1, 2025. Qualifications: Degree: Bachelor of Commerce (Accounting): University of New South Wales, Australia. Professional Qualification: Chartered Accountants:Chartered Accountants Australia and New Zealand (CA ANZ). Working experience: 1) Present: Pelaburan Hartanah Berhad (PHB) - Independent Non-Executive Director of PHB Property Ventures Berhad and PHB Facility Management Berhad (subsidiaries of PHB) since May 2024 and Member of PHB Board Audit, Risk and Integrity Committee 2)2022 to 2024: Pelaburan Hartanah Berhad (PHB) - Independent Non-Executive Director of PHB, Chairman of PHB Board Audit, Risk and Integrity Committee and Member of PHB Board Investment Committee 3)2014 to 2017: PETRONAS Dagangan Berhad (PetDag) - Chief Financial Officer 4)2010 to 2013: PETRONAS Trading Corporation Sdn. Bhd. (PETCO) - Chief Financial Officer 5)2007 to 2009: PETRONAS Gas Berhad (PetGas) - Senior Manager Finance 6)2001 to 2006: Petroliam Nasional Berhad (PETRONAS) - Senior Manager, Corporate Planning & Development Division 7)1997 to 2001: Petroliam Nasional Berhad (PETRONAS) - Manager, Corporate Finance Division. Major Estimate Revision • Dec 03
Consensus revenue estimates increase by 13%, EPS downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from RM384.4m to RM434.4m. EPS estimate fell from RM0.027 to RM0.021. Net income forecast to grow 3.2% next year vs 35% growth forecast for Construction industry in Malaysia. Consensus price target down from RM0.49 to RM0.46. Share price was steady at RM0.35 over the past week. Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: RM0.007 (vs RM0.013 in 3Q 2023) Third quarter 2024 results: EPS: RM0.007 (down from RM0.013 in 3Q 2023). Revenue: RM154.3m (up 6.5% from 3Q 2023). Net income: RM3.05m (down 48% from 3Q 2023). Profit margin: 2.0% (down from 4.1% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year. Major Estimate Revision • Sep 06
Consensus revenue estimates decrease by 17% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from RM465.4m to RM384.4m. EPS estimate unchanged from RM0.026 per share at last update. Construction industry in Malaysia expected to see average net income growth of 41% next year. Consensus price target down from RM0.56 to RM0.49. Share price fell 7.1% to RM0.39 over the past week. Price Target Changed • Sep 03
Price target decreased by 7.5% to RM0.49 Down from RM0.53, the current price target is an average from 2 analysts. New target price is 15% above last closing price of RM0.42. Stock is up 10% over the past year. The company is forecast to post earnings per share of RM0.026 for next year compared to RM0.054 last year. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: RM0.011 (vs RM0.021 in 2Q 2023) Second quarter 2024 results: EPS: RM0.011 (down from RM0.021 in 2Q 2023). Revenue: RM106.5m (down 60% from 2Q 2023). Net income: RM5.36m (down 46% from 2Q 2023). Profit margin: 5.0% (up from 3.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jun 21
TRC Synergy Berhad Appoints Encik Abdul Aziz Bin Mohamed as Executive Alternate Director TRC Synergy Berhad announced the appointment of Encik Abdul Aziz Bin Mohamed, aged 53 as Executive Alternate Director of the company with effect from June 21, 2024. Qualifications: Degree in Law from International Islamic University Malaysia, Professional Qualification: Licensed Company Secretary from Suruhanjaya Syarikat Malaysia. Working experience and occupation: General Manager (Company Secretary), TRC Synergy Berhad (2002-Present) 2. Company Secretary, Halim Mazmin Berhad (2001-2002) 3. Company Secretary, Johore Tenggara Oil Palm Berhad (1999-2001) 4. Legal Officer, Johore Tenggara Oil Palm Berhad (1996-1999). Reported Earnings • Jun 04
First quarter 2024 earnings released: EPS: RM0 (vs RM0.005 in 1Q 2023) First quarter 2024 results: EPS: RM0 (down from RM0.005 in 1Q 2023). Revenue: RM92.7m (down 35% from 1Q 2023). Net income: RM147.1k (down 94% from 1Q 2023). Profit margin: 0.2% (down from 1.7% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Jun 01
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM634.9m to RM550.8m. EPS estimate fell from RM0.038 to RM0.035 per share. Net income forecast to shrink 33% next year vs 25% growth forecast for Construction industry in Malaysia . Consensus price target down from RM0.56 to RM0.53. Share price fell 10.0% to RM0.45 over the past week. Declared Dividend • May 02
Dividend of RM0.012 announced Dividend of RM0.012 is the same as last year. Ex-date: 27th June 2024 Payment date: 15th July 2024 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (10% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has increased by an average of 9.1% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 15% over the next 3 years. However, it would need to fall by 89% to increase the payout ratio to a potentially unsustainable range. Announcement • May 01
TRC Synergy Berhad, Annual General Meeting, Jun 26, 2024 TRC Synergy Berhad, Annual General Meeting, Jun 26, 2024, at 10:30 SE Asia Standard Time. Location: Board Room, 8th Floor, TRC Business Centre, Jalan Andaman Utama, 68000 Ampang, Selangor Malaysia Agenda: To receive and adopt Audited Financial Statements, Report of the Directors and Report of the Auditors thereon for the year ended 31st December 2023; to approve the payment of first and final single tier dividend of 1.20 sen per share for the year ended 31st December 2023; to approve the payment of Directors' fees in respect of the financial year ended 31st December 2023; to approve the payment of Directors' benefits other than Directors' fees to Non-Executive Directors in respect of the financial year ended 31st December 2023; and to consider other matters. Board Change • May 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. 7 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Abdull Bin Hj Hashim was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 30
TRC Synergy Berhad Proposes First and Final Single Tier Dividend for the Year Ended 31 December 2023 TRC Synergy Berhad at its AGM, to be held on 26 June 2024, proposed to approve the payment of first and final single tier dividend of 1.20 sen per share for the year ended 31st December 2023. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: RM0.054 (vs RM0.11 in FY 2022) Full year 2023 results: EPS: RM0.054 (down from RM0.11 in FY 2022). Revenue: RM678.7m (flat on FY 2022). Net income: RM25.3m (down 53% from FY 2022). Profit margin: 3.7% (down from 7.9% in FY 2022). Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Price Target Changed • Feb 05
Price target increased by 39% to RM0.56 Up from RM0.40, the current price target is an average from 2 analysts. New target price is 22% above last closing price of RM0.46. Stock is up 34% over the past year. The company is forecast to post earnings per share of RM0.028 for next year compared to RM0.11 last year. Reported Earnings • Dec 01
Third quarter 2023 earnings released: EPS: RM0.013 (vs RM0.006 in 3Q 2022) Third quarter 2023 results: EPS: RM0.013 (up from RM0.006 in 3Q 2022). Revenue: RM144.9m (up 5.2% from 3Q 2022). Net income: RM5.88m (up 95% from 3Q 2022). Profit margin: 4.1% (up from 2.2% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.0% 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 35% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Nov 15
Consensus revenue estimates increase by 11% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from RM615.7m to RM685.7m. EPS estimate unchanged from RM0.03 at last update. Construction industry in Malaysia expected to see average net income growth of 40% next year. Consensus price target of RM0.41 unchanged from last update. Share price was steady at RM0.37 over the past week. Major Estimate Revision • Sep 06
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from RM687.7m to RM615.7m. EPS estimate fell from RM0.037 to RM0.031 per share. Net income forecast to shrink 68% next year vs 39% growth forecast for Construction industry in Malaysia . Consensus price target of RM0.41 unchanged from last update. Share price rose 11% to RM0.40 over the past week. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: RM0.021 (vs RM0.007 in 2Q 2022) Second quarter 2023 results: EPS: RM0.021 (up from RM0.007 in 2Q 2022). Revenue: RM264.0m (up 33% from 2Q 2022). Net income: RM9.88m (up 198% from 2Q 2022). Profit margin: 3.7% (up from 1.7% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.0% 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 35% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jun 21
TRC Synergy Berhad Approves First and Final Single Tier Dividend for the Year Ended 31 December 2022 TRC Synergy Berhad at its general meeting held on 20 June 2023, approved the payment of first and final single tier dividend of 1.20 sen per share for the year ended 31st December 2022. Upcoming Dividend • Jun 21
Upcoming dividend of RM0.012 per share at 3.7% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Malaysian dividend payers (5.4%). In line with average of industry peers (3.5%). Reported Earnings • Jun 02
First quarter 2023 earnings released: EPS: RM0.005 (vs RM0.014 in 1Q 2022) First quarter 2023 results: EPS: RM0.005 (down from RM0.014 in 1Q 2022). Revenue: RM143.5m (down 19% from 1Q 2022). Net income: RM2.51m (down 61% from 1Q 2022). Profit margin: 1.7% (down from 3.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 04
Price target increased by 8.3% to RM0.39 Up from RM0.36, the current price target is an average from 2 analysts. New target price is 16% above last closing price of RM0.34. Stock is down 4.3% over the past year. The company is forecast to post earnings per share of RM0.032 for next year compared to RM0.047 last year. Price Target Changed • Mar 01
Price target decreased by 8.9% to RM0.36 Down from RM0.40, the current price target is an average from 2 analysts. New target price is 5.9% above last closing price of RM0.34. Stock is up 6.3% over the past year. The company posted earnings per share of RM0.047 last year. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: RM0.047 (vs RM0.044 in FY 2021) Full year 2022 results: EPS: RM0.047 (up from RM0.044 in FY 2021). Revenue: RM677.4m (down 11% from FY 2021). Net income: RM22.3m (up 7.9% from FY 2021). Profit margin: 3.3% (up from 2.7% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.6% 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 13% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 03
Third quarter 2022 earnings released: EPS: RM0.006 (vs RM0.013 in 3Q 2021) Third quarter 2022 results: EPS: RM0.006 (down from RM0.013 in 3Q 2021). Revenue: RM137.8m (down 4.3% from 3Q 2021). Net income: RM3.02m (down 49% from 3Q 2021). Profit margin: 2.2% (down from 4.1% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 13% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to RM0.39 Down from RM0.82, the current price target is an average from 2 analysts. New target price is 30% above last closing price of RM0.30. Stock is down 13% over the past year. The company is forecast to post earnings per share of RM0.042 for next year compared to RM0.044 last year. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: RM0.007 (vs RM0.007 in 2Q 2021) Second quarter 2022 results: EPS: RM0.007 (vs RM0.007 in 2Q 2021). Revenue: RM198.7m (up 12% from 2Q 2021). Net income: RM3.32m (down 4.2% from 2Q 2021). Profit margin: 1.7% (down from 2.0% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 2.4% compared to a 27% growth forecast for the Construction industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 22
Upcoming dividend of RM0.012 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (3.2%). Reported Earnings • May 31
First quarter 2022 earnings released: EPS: RM0.014 (vs RM0.012 in 1Q 2021) First quarter 2022 results: EPS: RM0.014 (up from RM0.012 in 1Q 2021). Revenue: RM176.4m (down 12% from 1Q 2021). Net income: RM6.49m (up 15% from 1Q 2021). Profit margin: 3.7% (up from 2.8% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Reported Earnings • May 01
Full year 2021 earnings released: EPS: RM0.044 (vs RM0.058 in FY 2020) Full year 2021 results: EPS: RM0.044 (down from RM0.058 in FY 2020). Revenue: RM762.1m (up 1.1% from FY 2020). Net income: RM20.7m (down 24% from FY 2020). Profit margin: 2.7% (down from 3.6% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Mar 01
TRC Synergy Berhad Announces Resignation Tan Sri Dato' Seri Panglima Ahmad Kamarulzaman Bin Hj Ahmad Badaruddin as Member of Remuneration Committee TRC Synergy Berhad announced resignation Tan Sri Dato' Seri Panglima Ahmad Kamarulzaman Bin Hj Ahmad Badaruddin as Member of Remuneration Committee, effective February 25, 2022. Reported Earnings • Dec 02
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: RM0.013 (up from RM0.012 in 3Q 2020). Revenue: RM143.9m (down 24% from 3Q 2020). Net income: RM5.87m (up 2.2% from 3Q 2020). Profit margin: 4.1% (up from 3.0% in 3Q 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 23
Second quarter 2021 earnings released: EPS RM0.007 (vs RM0.024 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: RM176.7m (up 27% from 2Q 2020). Net income: RM3.46m (down 69% from 2Q 2020). Profit margin: 2.0% (down from 8.0% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Board Change • Jul 31
High number of new directors Independent Non-Executive Director Abdull Bin Hj Hashim was the last director to join the board, commencing their role in 2021. Reported Earnings • Jul 01
First quarter 2021 earnings released: EPS RM0.012 (vs RM0.001 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM201.4m (up 46% from 1Q 2020). Net income: RM5.62m (up RM6.03m from 1Q 2020). Profit margin: 2.8% (up from net loss in 1Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 23
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 15 July 2021. Trailing yield: 2.6%. Lower than top quartile of Malaysian dividend payers (3.9%). In line with average of industry peers (2.5%). Reported Earnings • Jun 05
Full year 2020 earnings released: EPS RM0.058 (vs RM0.037 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: RM753.9m (down 11% from FY 2019). Net income: RM27.3m (up 53% from FY 2019). Profit margin: 3.6% (up from 2.1% 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 12% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Announcement • Jun 02
TRC Synergy Berhad Announces First and Final Dividend, Payable 15 July 2021 TRC Synergy Berhad announced First and Final Single Tier Dividend of 1.0 sen per share. Ex-Date: 29 June 2021. Entitlement date: 30 June 2021. Payment Date 15 July 2021. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS RM0.057 (vs RM0.038 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: RM753.8m (down 11% from FY 2019). Net income: RM26.9m (up 49% from FY 2019). Profit margin: 3.6% (up from 2.1% 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 12% per year whereas the company’s share price has fallen by 15% per year. Is New 90 Day High Low • Feb 08
New 90-day low: RM0.31 The company is down 2.0% from its price of RM0.32 on 10 November 2020. The Malaysian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is flat over the same period. Is New 90 Day High Low • Dec 03
New 90-day high: RM0.35 The company is up 11% from its price of RM0.32 on 04 September 2020. The Malaysian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 8.0% over the same period.