Reported Earnings • Apr 20
Full year 2025 earnings released: EPS: RM0.08 (vs RM0.063 in FY 2024) Full year 2025 results: EPS: RM0.08 (up from RM0.063 in FY 2024). Revenue: RM57.7m (up 59% from FY 2024). Net income: RM22.4m (up 34% from FY 2024). Profit margin: 39% (down from 46% in FY 2024). The decrease in margin was driven by higher expenses. 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 14% per year. Announcement • Apr 13
Tex Cycle Technology (M) Berhad, Annual General Meeting, May 13, 2026 Tex Cycle Technology (M) Berhad, Annual General Meeting, May 13, 2026, at 10:00 Singapore Standard Time. Location: unit 8, level 5, kompleks komersil akasa, jalan akasa, akasa cheras selatan, 43300 seri kembangan, selangor darul ehsan, Malaysia Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.078 (vs RM0.063 in FY 2024) Full year 2025 results: EPS: RM0.078 (up from RM0.063 in FY 2024). Revenue: RM57.7m (up 59% from FY 2024). Net income: RM20.7m (up 25% from FY 2024). Profit margin: 36% (down from 46% in FY 2024). The decrease in margin was driven by higher expenses. 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. Announcement • Jan 23
Tex Cycle Technology (M) Berhad Announces Redesignation of Datuk Low Chin Koon as Non Independent and Non Executive Chairman, Effective January 22, 2026 Tex Cycle Technology (M) Berhad announced the redesignation of Datuk Low Chin Koon as Non Independent and Non Executive Chairman effective January 22, 2026. Datuk Low Chin Koon, aged 45, is the Group Managing Director of Wysen Group of Companies. He founded Wysen Industry Sdn Bhd in 1999 venturing into the business of making office chairs. He then expanded his business by exporting to Australia, Brunei, Middle East, India, Africa and other countries. In 2004 and 2005, he established Wysen Office Supplies Sdn Bhd and Wysen Office Systems Sdn Bhd to sell products to local markets and manufacturing of panel workstation respectively. As a Group Managing Director, Datuk Low monitors the entire operations and take charge of the business development of the Group, in addition to implementation of quality management project within the Group. Datuk Low established a Corporate Charity Fund in 2009. He was a board committee of the Malaysia Furniture Council Youth Chief and Malaysian Timber Industry Board and was in the Research Advisor Committee of the Forest Research Institute Malaysia Board. He is currently an Independent Non-Executive Director of Mestron Holdings Berhad and Techbase Industries Berhad, and serves as the Independent Non-Executive Chairman of K. Seng Seng Corporation Berhad. He is also a central committee member of Malaysian Furniture Council. Directorate: Non Independent and Non Executive. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM1.19, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 15x in the Commercial Services industry in Malaysia. Total returns to shareholders of 57% over the past three years. Reported Earnings • Nov 13
Third quarter 2025 earnings released: EPS: RM0.009 (vs RM0.01 in 3Q 2024) Third quarter 2025 results: EPS: RM0.009 (down from RM0.01 in 3Q 2024). Revenue: RM17.7m (up 67% from 3Q 2024). Net income: RM2.26m (down 6.4% from 3Q 2024). Profit margin: 13% (down from 23% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: RM0.012 (vs RM0.01 in 2Q 2024) Second quarter 2025 results: EPS: RM0.012 (up from RM0.01 in 2Q 2024). Revenue: RM8.63m (up 4.6% from 2Q 2024). Net income: RM3.02m (up 21% from 2Q 2024). Profit margin: 35% (up from 30% in 2Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 05
Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) completed the acquisition of Meridian World Sdn. Bhd. from a group of shareholders. Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) signed binding term sheet to acquire Meridian World Sdn. Bhd. from a group of shareholders for MYR 55 million on June 12, 2024. As of February 27, 2025, Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) entered into a conditional Share Sale Agreement to acquire Meridian World Sdn. Bhd. from a group of shareholders. A cash consideration of MYR 55 million will be paid by Tex Cycle Technology for 1.6 million shares. The sellers in the transaction are Yang Wu-Hsiung, Amia Co.,Ltd (TWSE:8438), Beltrax Engineering Sdn Bhd, Good Credentials Sdn Bhd, Panbright Holdings Sdn Bhd, Peninsular Accord Sdn Bhd, Scientidex Sdn Bhd, Sunrise Majusama Sdn Bhd, Wong Mei Hwa and Yang Chueh-Kuang. The Purchase Consideration will be funded in the following manner: (i) MYR 37 million to be funded via internally generated funds; and (ii) the remaining MYR 18 million to be funded via bank borrowings. As of May 13, 2025, Tex Cycle has revised the manner of funding the Purchase Consideration. The Purchase Consideration will be funded in the following manner - MYR 17 million to be funded via internally generated funds and MYR 38 million to be funded via bank borrowings.
This acquisition marks a strategic expansion for Tex Cycle, further enhancing its capabilities in scheduled waste management and chemical processing.
The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by target shareholders, the shareholders of Tex Cycle at an extraordinary general meeting to be convened; consummation of due diligence investigation, and any other relevant government authorities and/or parties, if required. The transaction is expected to close on September 30, 2024. Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) and the Vendors have, through the exchange of letters dated 25 September 2024 and 26 September 2024 by their respective solicitors, mutually agreed to further extend the period to conduct due diligence on the Target Company and the execution of the definitive share sale agreement to 31 October 2024. Tex Cycle does not expect to incur additional financial commitment to put the business of the Meridian World Group on-stream as the latter has on-going operations. Tex Cycle does not expect to incur additional financial commitment to put the business of the Meridian World Group on-stream as the latter has on-going operations. The Proposed Acquisition is also expected to bring synergistic benefits, such as improved operational efficiency via collaborative logistics, cross-selling among the enlarged customer base of the combined group, streamlining of operations to eliminate overlapping functions, and economies of scale in procurement, in view that both the Tex Cycle Group and Meridian World Group are primarily involved in the same scheduled waste management industry. The Proposed Acquisition is expected to be completed by the 3rd quarter of 2025.
RHB Investment Bank Berhad has been appointed as the Principal Adviser for the Proposed Acquisition for Tex Cycle Technology (M) Berhad.
Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) completed the acquisition of Meridian World Sdn. Bhd. from a group of shareholders on August 4, 2025. Balance payment of MYR 42.8 million paid to vendors. Announcement • May 21
Tex Cycle Technology (M) Berhad has filed a Follow-on Equity Offering. Tex Cycle Technology (M) Berhad has filed a Follow-on Equity Offering.
Security Name: Shares
Security Type: Common Stock New Risk • May 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 33% Last year net profit margin: 60% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (33% net profit margin). Market cap is less than US$100m (RM289.6m market cap, or US$67.6m). Board Change • May 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Executive Director Hai Lee is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to RM1.08, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 14x in the Commercial Services industry in Malaysia. Total returns to shareholders of 115% over the past three years. New Risk • Apr 17
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 21% 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 (21% accrual ratio). Minor Risk Market cap is less than US$100m (RM245.0m market cap, or US$55.5m). Reported Earnings • Apr 17
Full year 2024 earnings released: EPS: RM0.063 (vs RM0.061 in FY 2023) Full year 2024 results: EPS: RM0.063 (up from RM0.061 in FY 2023). Revenue: RM36.2m (up 3.2% from FY 2023). Net income: RM16.6m (up 7.4% from FY 2023). Profit margin: 46% (up from 44% in FY 2023). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Announcement • Apr 14
Tex Cycle Technology (M) Berhad, Annual General Meeting, May 14, 2025 Tex Cycle Technology (M) Berhad, Annual General Meeting, May 14, 2025, at 10:00 Singapore Standard Time. Location: lot 8942, jalan telok gong, 42000 pelabuhan klang, selangor darul ehsan, Malaysia Announcement • Mar 24
Tex Cycle Technology (M) Berhad Announces Resignation of Datuk Keh Chuan Seng as Executive Chairman Tex Cycle Technology (M) Berhad announced resignation of DATUK KEH CHUAN SENG as Executive Chairman. Age is 53. Date of change is 22 March 2025. Reason is Due to personal circumstances. Reported Earnings • Feb 26
Full year 2024 earnings released: EPS: RM0.054 (vs RM0.061 in FY 2023) Full year 2024 results: EPS: RM0.054 (down from RM0.061 in FY 2023). Revenue: RM36.2m (up 3.2% from FY 2023). Net income: RM15.2m (down 1.8% from FY 2023). Profit margin: 42% (down from 44% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Jan 02
Tex Cycle Technology (M) Berhad Announces Resignation of Chiau Haw Yew as Executive Director Tex Cycle Technology (M) Berhad announced resignation of Mr. Chiau Haw Yew as Executive Director, due to personal commitments. Age: 30, Date of change: 02 January 2025. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to RM1.20, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 18x in the Commercial Services industry in Malaysia. Total returns to shareholders of 197% over the past three years. Reported Earnings • Nov 23
Third quarter 2024 earnings released: EPS: RM0.88 (vs RM0.005 in 3Q 2023) Third quarter 2024 results: EPS: RM0.88 (up from RM0.005 in 3Q 2023). Revenue: RM10.6m (up 28% from 3Q 2023). Net income: RM2.41m (up 98% from 3Q 2023). Profit margin: 23% (up from 15% 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 80% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Oct 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 11% This is considered a minor 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 High level of non-cash earnings (24% accrual ratio). Minor Risks Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (RM300.9m market cap, or US$70.3m). Announcement • Aug 20
Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) entered into a term sheet to acquire 60% stake in Safety & Environmental Laboratory Sdn. Bhd. from Kaliswaran A/L Palanisamy for MYR 8.4 million. Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) entered into a term sheet to acquire 60% stake in Safety & Environmental Laboratory Sdn. Bhd. from Kaliswaran A/L Palanisamy for MYR 8.4 million on August 19, 2024. The Purchase Consideration shall be satisfied by cash in the following; upon execution of the Term Sheet, Tex Cycle shall pay MYR 0.168 million equivalent to 2% of the Purchase Consideration (“Earnest Deposit”) to Tex Cycle’s Solicitors as the stakeholder whom is authorised to release the Earnest Deposit to the Vendor upon Unconditional Date; or refund the Earnest Deposit, free of interest, to Tex Cycle if the due diligence finding is unsatisfactory or the definitive agreement is not entered into by the Parties. Upon the execution of the Share sale agreement, Tex Cycle shall pay MYR 0.672 million equivalent to 8% of the Purchase Consideration to the Stakeholder whom is authorised to released upon the Unconditional Date; Tex Cycle shall pay MYR 5.56 million to the Kaliswaran within the Completion Period. Kaliswaran shall thereafter transfer the Sale Shares to Tex Cycle on completion of the SSA upon payment of the Balance Sum; and Subject to the term in the Term Sheet, Tex Cycle shall pay the Retention Sum to the Kaliswaran in the following manner; MYR 1 million to be paid within fourteen days from the date of SEL’s audited financial statement for FYE 2024; MYR 1 million to be paid within fourteen days from the date of SEL’s audited financial statement for FYE 2025.
Subject to satisfactory legal, financial and/or business due diligence findings on SEL by Tex Cycle, SEL and Tex Cycle shall enter or cause to be entered a conditional share sale agreement within 60 days from the date of the Term Sheet or such other period mutually agreed by the Parties in writing in respect of the Proposed Acquisition. The share sale agreement shall be subject to the following conditions precedent which shall be procure, fulfilled and/or waived by the Parties within 3 months from the date of the share sale agreement. Completion shall take place within 3 months from the date of fulfilment or waiver of all Conditions Precedent, with an extension of a further 1 month subject to late payment interest of 8% per annum on the Purchase Consideration outstanding calculated on daily rest basis. Announcement • Aug 14
An undisclosed buyer acquired 50% stake in Culzean W2E Limited from Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL). An undisclosed buyer acquired 50% stake in Culzean W2E Limited from Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) on June 7, 2024.
An undisclosed buyer completed the acquisition of 50% stake in Culzean W2E Limited from Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) on June 7, 2024. Announcement • Aug 13
Tex Cycle Technology (M) Berhad Announces the Resignation of Lim Yen Teng as Joint Secretary Tex Cycle Technology (M) Berhad announced the resignation of Lim Yen Teng as Joint Secretary (License No LS 0010182), Working experience and occupation during past 5 years, Date Of Change 13 Aug. 2024. Announcement • Jul 24
Tex Cycle Technology (M) Berhad has filed a Follow-on Equity Offering. Tex Cycle Technology (M) Berhad has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 25,618,949
Transaction Features: Subsequent Direct Listing Announcement • Jun 14
Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) signed binding term sheet to acquire Meridian World Sdn. Bhd. from a group of shareholders for MYR 55 million. Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) signed binding term sheet to acquire Meridian World Sdn. Bhd. from a group of shareholders for MYR 55 million on June 12, 2024. A cash consideration of MYR 55 million will be paid by Tex Cycle Technology for 1.6 million shares. The sellers in the transaction are Yang Wu-Hsiung, Amia Co.,Ltd (TWSE:8438), Beltrax Engineering Sdn Bhd, Good Credentials Sdn Bhd, Panbright Holdings Sdn Bhd, Peninsular Accord Sdn Bhd, Scientidex Sdn Bhd, Sunrise Majusama Sdn Bhd, Wong Mei Hwa and Yang Chueh-Kuang. The Purchase Consideration will be funded via internally generated funds and/or bank borrowings. The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by target shareholders and consummation of due diligence investigation. Reported Earnings • May 29
First quarter 2024 earnings released: EPS: RM0.026 (vs RM0.007 in 1Q 2023) First quarter 2024 results: EPS: RM0.026 (up from RM0.007 in 1Q 2023). Revenue: RM8.00m (down 12% from 1Q 2023). Net income: RM6.60m (up 278% from 1Q 2023). Profit margin: 83% (up from 19% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 45% per year whereas the company’s share price has increased by 46% per year. New Risk • May 03
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 7.4% 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: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (RM283.9m market cap, or US$59.9m). Valuation Update With 7 Day Price Move • Apr 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to RM1.08, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 15x in the Commercial Services industry in Malaysia. Total returns to shareholders of 161% over the past three years. Reported Earnings • Apr 20
Full year 2023 earnings released: EPS: RM0.061 (vs RM0.037 in FY 2022) Full year 2023 results: EPS: RM0.061 (up from RM0.037 in FY 2022). Revenue: RM35.1m (up 6.2% from FY 2022). Net income: RM15.5m (up 65% from FY 2022). Profit margin: 44% (up from 28% in FY 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Announcement • Apr 16
Tex Cycle Technology (M) Berhad, Annual General Meeting, May 15, 2024 Tex Cycle Technology (M) Berhad, Annual General Meeting, May 15, 2024, at 10:00 Singapore Standard Time. Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Directors' Report and Auditors' Report thereon; to approve the payment of Directors' fees and benefits up to an amount of RM300,000.00 for the financial year ending 31 December 2024 and up to the date of the 21st AGM of the Company; to re-elect Mr Lee Hai Peng, who retires in accordance with Clause 97 of the Company's Constitution and being eligible, has offered himself for re-election; to re-elect the following Directors, who retire in accordance with Clause 104 of the Company's Constitution and being eligible, have offered themselves for re-election; to re-appoint Messrs HLB Her Lum Chew PLT as Auditors of the Company and to authorise the Directors to fix their remuneration; and to consider other business matters. Reported Earnings • Feb 21
Full year 2023 earnings released: EPS: RM0.062 (vs RM0.037 in FY 2022) Full year 2023 results: EPS: RM0.062 (up from RM0.037 in FY 2022). Revenue: RM35.1m (up 12% from FY 2022). Net income: RM15.5m (up 66% from FY 2022). Profit margin: 44% (up from 30% in FY 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • Dec 29
Tex Cycle Technology (M) Berhad Appoints Mr. Chiau Haw Yew as Executive Director, Effective 01 January 2024 Tex Cycle Technology (M) Berhad announced the appointment of Mr. Chiau Haw Yew as Executive Director. Date of change is 01 January 2024. Age is 29. Mr. Chiau Haw Yew graduated from La Trobe University, Australia with a Bachelor's Degree in Marketing in 2018. He started his career in Chin Hin Group Berhad, where he was assigned to the different divisions of the Group from sales, marketing, procurement and business development. Subsequently, he moved on to the role of Group Sales and Marketing Director where he was responsible to drive collaboration and synergy across the various business units and ensure the alignment of marketing strategies with overall business goals of the Group. In 2020, he was promoted to Executive Director of Midah Industries Sdn Bhd and was responsible for the strategic and day to day operations of the company. New Risk • Nov 21
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 20% 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 (20% accrual ratio). Minor Risk Market cap is less than US$100m (RM173.6m market cap, or US$37.3m). New Risk • Nov 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% 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: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (RM177.4m market cap, or US$37.7m). Announcement • Nov 15
Tex Cycle Technology (M) Berhad Announces Resdesignation of Gary Dass A/L Anthony Francis as Group Chief Executive Officer Tex Cycle Technology (M) Berhad announced that Mr. Gary Dass A/L Anthony Francis, age 35, has been redesignated as Group Chief Executive Officer on 14 November 2023. Professional Qualification: Accountancy: Association of Chartered Certified Accountants (ACCA). Professional Qualification: Accountancy: Malaysian Institute of Accountants (MIA): Chartered Accountant. Announcement • Oct 21
Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) agreed to acquire 29% stake in Ground Control Sdn Bhd from Harbir Singh Gill for MYR0.4 million. Tex Cycle Technology (M) Berhad (KLSE:TEXCYCL) agreed to acquire 29% stake in Ground Control Sdn Bhd from Harbir Singh Gill for MYR0.4 million on October 19, 2023. The Proposals are not subject to the approval of the shareholders of the Company and/or relevant authorities. The Proposals are expected to be completed on the last quarter of 2023. Reported Earnings • Aug 16
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: RM8.47m (up 16% from 2Q 2022). Net income: RM5.07m (up 182% from 2Q 2022). Profit margin: 60% (up from 25% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Board Change • Jul 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Executive Director Siew Ho is the most experienced director on the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Jul 01
Tex Cycle Technology (M) Berhad Announces Resignation of Ho Siew Weng as Executive Director Tex Cycle Technology (M) Berhad announced resignation of Mr. Ho Siew Weng as Executive Director. Age is 67. Nationality is Malaysia. Date of change is 30 June 2023. Reason is Due to personal commitment. Board Change • Jun 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. 1 highly experienced director. Executive Director Siew Ho is the most experienced director on the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: RM0.007 (vs RM0.004 in 1Q 2022) First quarter 2023 results: EPS: RM0.007 (up from RM0.004 in 1Q 2022). Revenue: RM9.11m (up 25% from 1Q 2022). Net income: RM1.75m (up 69% from 1Q 2022). Profit margin: 19% (up from 14% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Board Change • May 10
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non Executive Director Chun Sing Yeo was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
