Reported Earnings • Apr 23
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: RM0.062 (down from RM0.072 in FY 2024). Revenue: RM394.7m (flat on FY 2024). Net income: RM49.8m (down 14% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Food 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 only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Apr 16
Hup Seng Industries Berhad, Annual General Meeting, May 20, 2026 Hup Seng Industries Berhad, Annual General Meeting, May 20, 2026, at 09:00 Singapore Standard Time. Location: mezzanine floor, the katerina hotel, 8, jalan zabedah, 83000 batu pahat, johor darul ta`zim, Malaysia Board Change • Apr 01
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. 4 experienced directors. 4 highly experienced directors. Independent Non-Executive Director Ting Lee was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Feb 25
Price target increased by 18% to RM1.09 Up from RM0.92, the current price target is provided by 1 analyst. New target price is 6.9% above last closing price of RM1.02. Stock is down 1.9% over the past year. The company is forecast to post earnings per share of RM0.065 for next year compared to RM0.062 last year. Reported Earnings • Feb 24
Full year 2025 earnings released: EPS: RM0.062 (vs RM0.072 in FY 2024) Full year 2025 results: EPS: RM0.062 (down from RM0.072 in FY 2024). Revenue: RM394.7m (flat on FY 2024). Net income: RM49.8m (down 14% from FY 2024). Profit margin: 13% (down from 15% in FY 2024). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Food 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 only increased by 11% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Feb 10
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 4.0% to RM1.05. The fair value is estimated to be RM0.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 0.1% in the next 2 years. Buy Or Sell Opportunity • Jan 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.0% to RM1.02. The fair value is estimated to be RM0.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 0.1% in the next 2 years. Declared Dividend • Nov 29
Dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 11th December 2025 Payment date: 30th December 2025 Dividend yield will be 5.8%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (125% cash payout ratio). The dividend has increased by an average of 4.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 7.6% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Nov 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.7% to RM1.02. The fair value is estimated to be RM0.84, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.9% over the last 3 years. Earnings per share has grown by 25%. Revenue is forecast to grow by 2.8% in 2 years. Earnings are forecast to grow by 0.1% in the next 2 years. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: RM0.019 (vs RM0.022 in 3Q 2024) Third quarter 2025 results: EPS: RM0.019 (down from RM0.022 in 3Q 2024). Revenue: RM105.7m (up 1.2% from 3Q 2024). Net income: RM15.5m (down 10% from 3Q 2024). Profit margin: 15% (down from 17% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Declared Dividend • Aug 29
Dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 17th September 2025 Payment date: 6th October 2025 Dividend yield will be 7.5%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (74% earnings payout ratio) but not covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 5.4% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 12
Second quarter 2025 earnings released: EPS: RM0.011 (vs RM0.011 in 2Q 2024) Second quarter 2025 results: EPS: RM0.011 (in line with 2Q 2024). Revenue: RM84.8m (up 5.7% from 2Q 2024). Net income: RM8.51m (down 5.7% from 2Q 2024). Profit margin: 10.0% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.9% to RM0.92. The fair value is estimated to be RM1.15, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years. Earnings per share has grown by 33%. Revenue is forecast to grow by 9.3% in 2 years. Earnings are forecast to grow by 4.5% in the next 2 years. Major Estimate Revision • May 28
Consensus EPS estimates fall by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from RM425.1m to RM397.7m. EPS estimate also fell from RM0.08 per share to RM0.064 per share. Net income forecast to shrink 3.7% next year vs 6.5% growth forecast for Food industry in Malaysia . Consensus price target down from RM1.23 to RM1.04. Share price fell 9.0% to RM0.96 over the past week. Announcement • May 22
Hup Seng Industries Berhad Reports Property, Plant and Equipment Written Off for the First Quarter Ended March 31, 2025 Hup Seng Industries Berhad reported Property, plant and equipment written off for the first quarter ended March 31, 2025. For the quarter, the company reported Property, plant and equipment written off of MYR 108,000 against MYR 69,000 a year ago. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: RM0.013 (vs RM0.017 in 1Q 2024) First quarter 2025 results: EPS: RM0.013 (down from RM0.017 in 1Q 2024). Revenue: RM91.7m (down 2.0% from 1Q 2024). Net income: RM10.6m (down 24% from 1Q 2024). Profit margin: 12% (down from 15% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Food 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 only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 22
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: RM0.072 (up from RM0.056 in FY 2023). Revenue: RM395.3m (up 11% from FY 2023). Net income: RM57.6m (up 28% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) also surpassed analyst estimates by 9.1%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Food 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 only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Apr 17
Hup Seng Industries Berhad, Annual General Meeting, May 21, 2025 Hup Seng Industries Berhad, Annual General Meeting, May 21, 2025, at 09:00 Singapore Standard Time. Location: mezzanine floor, the katerina hotel, 8, jalan zabedah, 83000 batu pahat, johor darul ta`zim, Malaysia Declared Dividend • Mar 07
Dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 20th March 2025 Payment date: 9th April 2025 Dividend yield will be 6.6%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (121% cash payout ratio). The dividend has increased by an average of 6.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 19% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 11
Full year 2024 earnings released: EPS: RM0.072 (vs RM0.056 in FY 2023) Full year 2024 results: EPS: RM0.072 (up from RM0.056 in FY 2023). Revenue: RM395.3m (up 11% from FY 2023). Net income: RM57.6m (up 28% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Food 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 only increased by 8% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jan 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.6% to RM1.13. The fair value is estimated to be RM1.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 8.1% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. New Risk • Nov 28
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 7.0% 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 (23% accrual ratio). Minor Risks Dividend is not well covered by cash flows (106% cash payout ratio). Share price has been volatile over the past 3 months (7.0% average weekly change). Upcoming Dividend • Nov 28
Upcoming dividend of RM0.03 per share Eligible shareholders must have bought the stock before 05 December 2024. Payment date: 20 December 2024. Payout ratio is a comfortable 59% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Lower than top quartile of Malaysian dividend payers (4.9%). Higher than average of industry peers (2.8%). Announcement • Nov 21
Hup Seng Industries Berhad Declares Special Interim Dividend in Respect of the Year Ended 31 December 2024, Payable on December 20, 2024 Hup Seng Industries Berhad declared a special interim dividend of 1.0 sen per ordinary share under the single tier system in respect of the year ended 31 December 2024. The ex-date is 05 December 2024, entitlement date is 06 December 2024, payment date is 20 December 2024. Major Estimate Revision • Nov 13
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from RM357.7m to RM377.3m. EPS estimate increased from RM0.059 to RM0.066 per share. Net income forecast to grow 5.3% next year vs 8.7% growth forecast for Food industry in Malaysia. Consensus price target up from RM1.07 to RM1.20. Share price was steady at RM1.11 over the past week. Buy Or Sell Opportunity • Nov 11
Now 23% undervalued Over the last 90 days, the stock has risen 2.8% to RM1.10. The fair value is estimated to be RM1.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has grown by 30%. Revenue is forecast to grow by 8.1% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Reported Earnings • Nov 07
Third quarter 2024 earnings released: EPS: RM0.022 (vs RM0.016 in 3Q 2023) Third quarter 2024 results: EPS: RM0.022 (up from RM0.016 in 3Q 2023). Revenue: RM104.4m (up 11% from 3Q 2023). Net income: RM17.3m (up 33% from 3Q 2023). Profit margin: 17% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to RM1.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 14x in the Food industry in Malaysia. Total returns to shareholders of 45% over the past three years. Upcoming Dividend • Sep 15
Upcoming dividend of RM0.02 per share Eligible shareholders must have bought the stock before 19 September 2024. Payment date: 07 October 2024. Payout ratio is a comfortable 56% and the cash payout ratio is 82%. Trailing yield: 3.7%. Lower than top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (2.8%). Declared Dividend • Aug 31
First half dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 19th September 2024 Payment date: 7th October 2024 Dividend yield will be 3.4%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (56% earnings payout ratio) and cash flows (82% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: RM0.011 (vs RM0.011 in 2Q 2023) Second quarter 2024 results: EPS: RM0.011 (in line with 2Q 2023). Revenue: RM80.2m (down 1.6% from 2Q 2023). Net income: RM9.03m (up 3.5% from 2Q 2023). Profit margin: 11% (in line with 2Q 2023). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Jul 24
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: Minor Risks Dividend is not well covered by cash flows (121% cash payout ratio). Share price has been volatile over the past 3 months (7.8% average weekly change). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to RM1.22, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 14x in the Food industry in Malaysia. Total returns to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at RM2.13 per share. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: RM0.018 (vs RM0.012 in 1Q 2023) First quarter 2024 results: EPS: RM0.018 (up from RM0.012 in 1Q 2023). Revenue: RM93.6m (up 8.3% from 1Q 2023). Net income: RM14.0m (up 45% from 1Q 2023). Profit margin: 15% (up from 11% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Food 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 • Apr 18
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: RM0.056 (up from RM0.033 in FY 2022). Revenue: RM357.3m (up 12% from FY 2022). Net income: RM45.1m (up 73% from FY 2022). Profit margin: 13% (up from 8.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 7.4%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Apr 16
Hup Seng Industries Berhad, Annual General Meeting, May 16, 2024 Hup Seng Industries Berhad, Annual General Meeting, May 16, 2024, at 09:00 Singapore Standard Time. Location: Mezzanine Floor, The Katerina Hotel 8, Jalan Zabedah, 83000 Batu Pahat, Johor Darul Ta'zim Malaysia Agenda: To receive the audited financial statements of the Company 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 for the financial year ended 31 December 2023; to approve the payment of Directors' benefits; to re-elect the Directors; to re-appoint Ernst & Young PLT, the retiring auditors, as the auditors of the Company until the conclusion of the next AGM and to authorize the Directors to fix their remuneration; and to transact any other business that can be transacted in an annual general meeting of which due notice shall have been received. Upcoming Dividend • Mar 13
Upcoming dividend of RM0.02 per share Eligible shareholders must have bought the stock before 20 March 2024. Payment date: 09 April 2024. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 6.9%. Within top quartile of Malaysian dividend payers (4.7%). Higher than average of industry peers (2.7%). Declared Dividend • Mar 07
Dividend of RM0.02 announced Shareholders will receive a dividend of RM0.02. Ex-date: 20th March 2024 Payment date: 9th April 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not adequately covered by cash flows (96% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 37% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 05
Hup Seng Industries Berhad Declares Special Dividend in Respect of the Year Ended 31 December 2023, Payable on 09 April 2024 Hup Seng Industries Berhad declared Special Dividend of 0.5 sen per ordinary share under the single tier system in respect of the year ended 31 December 2023. Ex-Date: 20 March 2024. Entitlement date: 21 March 2024. Payment Date: 09 April 2024. Announcement • Feb 21
Hup Seng Industries Berhad's Recommends Third Interim Single-Tier Dividend for the Quarter Ended December 31, 2023 Hup Seng Industries Berhad's Board of Directors recommended the payment of third interim single-tier dividend of 1.5 sen per ordinary share for the quarter ended December 31, 2023. Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: RM0.056 (vs RM0.033 in FY 2022) Full year 2023 results: EPS: RM0.056 (up from RM0.033 in FY 2022). Revenue: RM357.3m (up 12% from FY 2022). Net income: RM45.1m (up 73% from FY 2022). Profit margin: 13% (up from 8.2% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.5% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jan 02
Hup Seng Industries Berhad Announces Appointment of Mr. Lee Ting Kiat as Independent and Non Executive Director Hup Seng Industries Berhad announced appointment of Mr. Lee Ting Kiat as Independent and Non Executive Director. Age: 55, Gender: Male, Nationality: Malaysia. ate of change is 2 January 2024. Qualifications: Degree: Law, University of Malaya. Working experience: Mr. Lee Ting Kiat is a practising advocate and solicitor with 31 years experience, and is the Managing Partner of Messrs. Lee & Tengku Azrina, a firm set up by him and Tengku Azrina since 2005. Prior to the current firm, he was a partner in Messrs. Zaid Ibrahim & Co. from 2000 to 2005. He was also a partner in Messrs. Andrew Wong & Co. from 1995 to 1999. He did his pupillage in 1991, and started his early days of practice in Messrs. Azim, Tunku Farik & Wong (previously known as Messrs. Azim, Ong & Krishnan) from 1992 to 1994. In his extensive career as an advocate and solicitor, he has wide experience in various areas of laws, ranging from corporate and commercial, to financing and property matters. He advises on matters relating to mergers and acquisitions, various corporate exercises, restructuring of corporations, foreign direct investment, finance matters, property development, joint venture agreements and other commercial matters. His firm represents a large number of local and foreign corporations, developers and banks in Malaysia on various deals. He is the Independent Non-Executive Chairman of MTAG Group Berhad. He is also a General Committee Member of the Malaysian International Chamber of Commerce & Industry (MICCI) and the Chairman of MICCI (Southern Region).Directorships in public companies and listed issuers (if any): MTAG Group Berhad. Price Target Changed • Nov 09
Price target increased by 15% to RM1.01 Up from RM0.88, the current price target is an average from 2 analysts. New target price is 26% above last closing price of RM0.80. Stock is up 25% over the past year. The company is forecast to post earnings per share of RM0.053 for next year compared to RM0.033 last year. Upcoming Dividend • Sep 12
Upcoming dividend of RM0.01 per share at 5.7% yield Eligible shareholders must have bought the stock before 19 September 2023. Payment date: 06 October 2023. Payout ratio is on the higher end at 92%, however this is supported by cash flows. Trailing yield: 5.7%. Within top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (3.8%). Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: RM0.011 (vs RM0.004 in 2Q 2022) Second quarter 2023 results: EPS: RM0.011 (up from RM0.004 in 2Q 2022). Revenue: RM81.5m (up 11% from 2Q 2022). Net income: RM8.72m (up 187% from 2Q 2022). Profit margin: 11% (up from 4.1% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 10% per year. Upcoming Dividend • Jun 14
Upcoming dividend of RM0.01 per share at 4.5% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 12 July 2023. Payout ratio and cash payout ratio are on the higher end at 83% and 84% respectively. Trailing yield: 4.5%. Lower than top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (3.9%). Reported Earnings • Apr 24
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: RM0.033 (down from RM0.034 in FY 2021). Revenue: RM318.2m (up 7.6% from FY 2021). Net income: RM26.1m (down 4.3% from FY 2021). Profit margin: 8.2% (down from 9.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) also surpassed analyst estimates by 30%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, while revenues in the Food industry in Malaysia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 08
Upcoming dividend of RM0.01 per share at 4.1% yield Eligible shareholders must have bought the stock before 15 March 2023. Payment date: 05 April 2023. Payout ratio is on the higher end at 92%, and the cash payout ratio is above 100%. Trailing yield: 4.1%. Lower than top quartile of Malaysian dividend payers (5.2%). Higher than average of industry peers (3.6%). Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: RM0.033 (vs RM0.034 in FY 2021) Full year 2022 results: EPS: RM0.033 (down from RM0.034 in FY 2021). Revenue: RM318.2m (up 7.6% from FY 2021). Net income: RM26.1m (down 4.3% from FY 2021). Profit margin: 8.2% (down from 9.2% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 1.3% decline forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 20% 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 • Dec 30
Hup Seng Industries Berhad Announces Resignation of Dato Keh (Kerk) Chu Koh as Chairman, with Effect from December 30, 2022 Hup Seng Industries Berhad announced resignation of Dato Keh (Kerk) Chu Koh as Chairman, with effect from December 30, 2022. Age: 79. Gender: Male. Nationality: Malaysia. Directorate: Non Independent and Non Executive. Reason: Personal issues. Work Experience: He plans the Group's strategic business development and production development which includes the installation of various production facilities in the Group's factory and heads the research and development team which researches new varieties of biscuits. He contributed in obtaining the Certification of HACCP (Hazard Analysis Critical Control Point) & BRC (British Retail Consortium) for Hup Seng Perusahaan Makanan (M) Sdn. Bhd. in year 2008 and ISO 22000:2005 in year 2012, to ensure that product safety and quality are in line with global standard. He travels abroad extensively to keep abreast with the latest developments in the biscuits manufacturing industry and to assess new market prospects for the Group. Upcoming Dividend • Dec 02
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 09 December 2022. Payment date: 29 December 2022. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 4.2%. Lower than top quartile of Malaysian dividend payers (5.0%). Higher than average of industry peers (3.8%). Announcement • Nov 23
Hup Seng Industries Berhad Announces Second Interim Dividend in Respect of the Year Ending 31 December 2022, Payable on December 29, 2022 Hup Seng Industries Berhad announced Second Interim Dividend of 1.0 sen per ordinary share under the single tier system in respect of the year ending 31 December 2022. Ex-date is December 09, 2022. Entitlement date is December 12, 2022. Payment date is December 29, 2022. Price Target Changed • Nov 16
Price target decreased to RM0.73 Down from RM0.98, the current price target is an average from 2 analysts. New target price is 13% above last closing price of RM0.65. Stock is down 28% over the past year. The company is forecast to post earnings per share of RM0.025 for next year compared to RM0.034 last year. Reported Earnings • Nov 10
Third quarter 2022 earnings released: EPS: RM0.005 (vs RM0.005 in 3Q 2021) Third quarter 2022 results: EPS: RM0.005 (in line with 3Q 2021). Revenue: RM70.2m (up 8.3% from 3Q 2021). Net income: RM3.84m (down 6.0% from 3Q 2021). Profit margin: 5.5% (down from 6.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • Oct 31
Hup Seng Industries Berhad Announces Resignation of Nip Chee Sien as Company Secretary Hup Seng Industries Berhad announced resignation of Nip Chee Sien as company secretary. Date of change is 31 October 2022. Working experience and occupation during past 5 years: Mr. Nip has more than 12 years experience as a corporate secretary and is involved in initial public offers, restructuring of companies and liquidation of companies. Upcoming Dividend • Sep 12
Upcoming dividend of RM0.01 per share Eligible shareholders must have bought the stock before 19 September 2022. Payment date: 07 October 2022. Payout ratio is a comfortable 68% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (3.6%). Announcement • Aug 30
Hup Seng Industries Berhad Announces First Interim Dividend for the Year Ending 31 December 2022, Payable on 07 October 2022 Hup Seng Industries Berhad announced First Interim Dividend of 1.0 sen per ordinary share under the single tier system in respect of the year ending 31 December 2022. Scheduled dates are as follows: Ex-Date 19 September 2022, Entitlement date 20 September 2022 and Payment Date of 07 October 2022. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: RM0.004 (vs RM0.004 in 2Q 2021) Second quarter 2022 results: EPS: RM0.004 (vs RM0.004 in 2Q 2021). Revenue: RM73.8m (up 11% from 2Q 2021). Net income: RM3.04m (down 15% from 2Q 2021). Profit margin: 4.1% (down from 5.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.9%, compared to a 4.0% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. 
