Declared Dividend • Feb 26
First half dividend increased to RM0.055 Dividend of RM0.055 is 10.0% higher than last year. Ex-date: 10th March 2026 Payment date: 24th March 2026 Dividend yield will be 2.7%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (41% earnings payout ratio) but not covered by cash flows (149% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 6.3% over the next 3 years. However, it would need to fall by 55% to increase the payout ratio to a potentially unsustainable range. Announcement • Feb 26
IOI Corporation Berhad Announces First Interim Single Tier Dividend for the Financial Year Ending 30 June 2026, Payable on 24 March 2026 IOI Corporation Berhad announced first interim single tier dividend of 5.50 sen per ordinary share for the financial year ending 30 June 2026. Ex-Date is 10 March 2026; Entitlement date is 11 March 2026; Payment Date is 24 March 2026. Reported Earnings • Feb 25
Second quarter 2026 earnings released: EPS: RM0.085 (vs RM0.018 in 2Q 2025) Second quarter 2026 results: EPS: RM0.085 (up from RM0.018 in 2Q 2025). Revenue: RM3.01b (up 1.5% from 2Q 2025). Net income: RM528.5m (up 376% from 2Q 2025). Profit margin: 18% (up from 3.7% in 2Q 2025). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 2.2% 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 remained flat whereas the company’s share price has increased by 2% per year. New Risk • Nov 27
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: 10% Last year net profit margin: 15% 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: Minor Risks Dividend is not well covered by cash flows (138% cash payout ratio). Profit margins are more than 30% lower than last year (10% net profit margin). Reported Earnings • Nov 27
First quarter 2026 earnings released: EPS: RM0.06 (vs RM0.12 in 1Q 2025) First quarter 2026 results: EPS: RM0.06 (down from RM0.12 in 1Q 2025). Revenue: RM3.05b (up 14% from 1Q 2025). Net income: RM369.4m (down 48% from 1Q 2025). Profit margin: 12% (down from 27% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.4% 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 fallen by 6% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Oct 05
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: RM0.24 (up from RM0.18 in FY 2024). Revenue: RM11.3b (up 18% from FY 2024). Net income: RM1.52b (up 37% from FY 2024). Profit margin: 13% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to stay flat during the next 3 years compared to a 2.5% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Oct 03
IOI Corporation Berhad, Annual General Meeting, Nov 04, 2025 IOI Corporation Berhad, Annual General Meeting, Nov 04, 2025, at 10:00 Singapore Standard Time. Declared Dividend • Aug 30
Final dividend increased to RM0.55 Dividend of RM0.55 is 1,000% higher than last year. Ex-date: 12th September 2025 Payment date: 25th September 2025 Dividend yield will be 16%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (43% earnings payout ratio) but not covered by cash flows (194% cash payout ratio). The dividend has increased by an average of 2.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 8.2% over the next 3 years. However, it would need to fall by 52% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Aug 29
Full year 2025 earnings released: EPS: RM0.24 (vs RM0.18 in FY 2024) Full year 2025 results: EPS: RM0.24 (up from RM0.18 in FY 2024). Revenue: RM11.3b (up 18% from FY 2024). Net income: RM1.52b (up 37% from FY 2024). Profit margin: 13% (up from 12% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 8% 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. Announcement • Jun 13
Ioi Corporation Berhad Appoints Tan Sri Abdul Wahid Bin Omar as Senior Independent and Non-Executive Director Effective June 16, 2025 IOI Corporation Berhad has appointed Tan Sri Abdul Wahid bin Omar as Senior Independent and Non-Executive Director with effect from June 16, 2025. Tan Sri Abdul Wahid, aged 61, holds Malaysian nationality and has an extensive educational background, including honorary doctorates in Economy and Muamalat Administration from the Islamic Science University of Malaysia, Economy from Multimedia University Malaysia, and Business Administration from Universiti Poly-Tech Malaysia. He is a Fellow of the Association of Chartered Certified Accountants, United Kingdom, and a member of the Institute of Chartered Accountants in England & Wales and the Malaysian Institute of Accountants. Tan Sri Abdul Wahid has held significant roles, including Managing Director/Chief Executive Officer of UEM Group Berhad, Group Chief Executive Officer of Telekom Malaysia Berhad, President and Chief Executive Officer of Malayan Banking Berhad, and Chairman of Bursa Malaysia Berhad. He currently serves as the Board Chairman of Cypark Resources Berhad, Chairman of World Wide Fund for Nature (WWF)-Malaysia, and MySDG Foundation, among other positions. He is also involved in various councils and advisory roles, including the International Advisory Council of the Economic Club Kuala Lumpur and the Malaysian Chamber of Commerce (Hong Kong and Macau). Reported Earnings • May 28
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: RM0.042 (up from RM0.02 in 3Q 2024). Revenue: RM2.74b (up 11% from 3Q 2024). Net income: RM262.3m (up 113% from 3Q 2024). Profit margin: 9.6% (up from 5.0% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to stay flat during the next 3 years compared to a 2.8% growth forecast for the Food industry in Malaysia. 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. Buy Or Sell Opportunity • May 09
Now 20% overvalued Over the last 90 days, the stock has fallen 3.2% to RM3.64. The fair value is estimated to be RM3.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 1.7% in 2 years. Earnings are forecast to grow by 3.9% in the next 2 years. Buy Or Sell Opportunity • Apr 14
Now 22% overvalued Over the last 90 days, the stock has fallen 1.9% to RM3.68. The fair value is estimated to be RM3.02, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Earnings per share has declined by 14%. Revenue is forecast to grow by 3.0% in 2 years. Earnings are forecast to grow by 5.3% in the next 2 years. Declared Dividend • Feb 27
First half dividend of RM0.05 announced Shareholders will receive a dividend of RM0.05. Ex-date: 11th March 2025 Payment date: 24th March 2025 Dividend yield will be 2.7%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (48% earnings payout ratio) but not covered by cash flows (102% 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 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 26
Second quarter 2025 earnings released: EPS: RM0.018 (vs RM0.054 in 2Q 2024) Second quarter 2025 results: EPS: RM0.018 (down from RM0.054 in 2Q 2024). Revenue: RM2.97b (up 24% from 2Q 2024). Net income: RM111.1m (down 67% from 2Q 2024). Profit margin: 3.7% (down from 14% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% 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 fallen by 14% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Dec 26
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 2.4% to RM3.86. The fair value is estimated to be RM3.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 17% over the last 3 years. Earnings per share has declined by 13%. Revenue is forecast to grow by 9.9% in 2 years. Earnings are forecast to decline by 10% in the next 2 years. New Risk • Nov 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.3% 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 2.3% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (119% cash payout ratio). Reported Earnings • Nov 27
First quarter 2025 earnings released: EPS: RM0.12 (vs RM0.049 in 1Q 2024) First quarter 2025 results: EPS: RM0.12 (up from RM0.049 in 1Q 2024). Revenue: RM2.67b (up 21% from 1Q 2024). Net income: RM710.7m (up 134% from 1Q 2024). Profit margin: 27% (up from 14% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Oct 06
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: RM0.18 (in line with FY 2023). Revenue: RM9.60b (down 17% from FY 2023). Net income: RM1.11b (flat on FY 2023). Profit margin: 12% (up from 9.6% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 7.2%. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Oct 04
IOI Corporation Berhad, Annual General Meeting, Nov 05, 2024 IOI Corporation Berhad, Annual General Meeting, Nov 05, 2024, at 10:00 Singapore Standard Time. Location: millennium ballroom 1 (level 1), le meridien putrajaya, lebuh irc, ioi resort city, 62502 putrajaya, Malaysia Upcoming Dividend • Sep 12
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 17 September 2024. Payment date: 26 September 2024. Payout ratio is a comfortable 53% but the company is paying out more than the cash it is generating. Trailing yield: 2.5%. Lower than top quartile of Malaysian dividend payers (4.7%). Lower than average of industry peers (2.8%). Announcement • Aug 29
IOI Corporation Berhad Announces Second Interim Single Tier Dividend for the Financial Year Ended June 30, 2024, Payable on September 26, 2024 IOI Corporation Berhad announced the Second interim single tier dividend of 5.0 sen per ordinary share for the financial year ended June 30, 2024. Ex-Date is on September 17, 2024 with Entitlement date is on September 18, 2024. Payment Date is on September 26, 2024. Declared Dividend • Aug 28
Final dividend of RM0.05 announced Shareholders will receive a dividend of RM0.05. Ex-date: 17th September 2024 Payment date: 26th September 2024 Dividend yield will be 2.4%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (105% 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 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: RM0.18 (in line with FY 2023). Revenue: RM9.60b (down 17% from FY 2023). Net income: RM1.11b (flat on FY 2023). Profit margin: 12% (up from 9.6% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 7.2%. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 15% 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 • May 25
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: RM0.02 (down from RM0.032 in 3Q 2023). Revenue: RM2.46b (down 7.4% from 3Q 2023). Net income: RM123.1m (down 38% from 3Q 2023). Profit margin: 5.0% (down from 7.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 12%. Earnings per share (EPS) also missed analyst estimates by 54%. Revenue is forecast to grow 6.4% 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 fallen by 11% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 12
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.8% to RM4.05. The fair value is estimated to be RM3.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 55% in the next 2 years. Buy Or Sell Opportunity • Mar 21
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 2.3% to RM4.04. The fair value is estimated to be RM3.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. Buy Or Sell Opportunity • Mar 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.8% to RM4.00. The fair value is estimated to be RM3.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 52% in the next 2 years. Upcoming Dividend • Mar 01
Upcoming dividend of RM0.045 per share Eligible shareholders must have bought the stock before 08 March 2024. Payment date: 21 March 2024. Payout ratio is a comfortable 67% and the cash payout ratio is 98%. Trailing yield: 2.3%. Lower than top quartile of Malaysian dividend payers (4.8%). Lower than average of industry peers (2.8%). Declared Dividend • Feb 25
First half dividend reduced to RM0.045 Dividend of RM0.045 is 25% lower than last year. Ex-date: 8th March 2024 Payment date: 21st March 2024 Dividend yield will be 2.4%, which is lower than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (67% earnings payout ratio) and cash flows (80% 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 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 24
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: RM0.054 (down from RM0.12 in 2Q 2023). Revenue: RM2.40b (down 28% from 2Q 2023). Net income: RM335.4m (down 53% from 2Q 2023). Profit margin: 14% (down from 22% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 21%. Earnings per share (EPS) exceeded analyst estimates by 26%. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 2% per year. Major Estimate Revision • Nov 29
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from RM13.2b to RM11.7b. EPS estimate fell from RM0.214 to RM0.209 per share. Net income forecast to grow 31% next year vs 12% growth forecast for Food industry in Malaysia. Consensus price target broadly unchanged at RM4.19. Share price was steady at RM3.99 over the past week. Announcement • Nov 29
IOI Corporation Berhad Announces Re-Designation of Tan Sri Peter Chin Fah Kui as Non Executive Chairman IOI Corporation Berhad announced re-designation of Tan Sri Peter Chin Fah Kui as Non Executive Chairman. Age is 78. Date of change 1 December 2023. Tan Sri Peter Chin Fah Kui ("Tan Sri Peter Chin") had held various senior appointments in the Malaysian Government Administration from 1986 until his retirement in May 2013 (including the positions of Federal Minister, Federal Deputy Minister and Federal Parliament Secretary for the Ministry of Energy, Green Technology and Water, Ministry of Plantation Industries and Commodities, Ministry of Housing and Local Government, Ministry of Science, Technology and the Environment and Ministry of Welfare Services respectively). Tan Sri Peter Chin was the Chairman for Miri Council in 1984 and was also the Member of Parliament for Lambir and Miri constituencies in Sarawak from 1986 to 2013. He was the Special Advisor to Malaysian Green Technology and Climate Change Centre ("MGTC") and became the chairman of MGTC from April 2015 to April 2018. Announcement • Oct 27
IOI Investment (L) Berhad Announces Executive Changes IOI Investment (L) Berhad announces retirement of Cheah Tek Kuang, 76, as Non Independent and Non Executive Member of Nomination and Remuneration Committee. Composition of Nomination and Remuneration Committee(Name and Directorate of members after change):- The new composition of the Governance, Nominating and Remuneration Committee will be as follows:- 1) Datuk Zurinah binti Pawanteh (Chairman) - Independent Non- Executive Director. 2) Dr Nesadurai Kalanithi (Member) - Independent Non-Executive Director. 3) Lim Tuang Ooi (Member) - Independent Non-Executive Director. Date of change 27 Oct 2023. The company also announced the retirement of TAN SRI DR RAHAMAT BIVI BINTI YUSOFF, 66 as Independent and Non Executive Chairman of Nomination and Remuneration Committee. Date of change 27 Oct 2023. Composition of Nomination and Remuneration Committee(Name and Directorate of members after change) The new composition of the Governance, Nominating and Remuneration Committee will be as follows:- 1) Datuk Zurinah binti Pawanteh (Chairman) - Independent Non- Executive Director 2) Dr Nesadurai Kalanithi (Member) - Independent Non-Executive Director 3) Lim Tuang Ooi (Member) - Independent Non-Executive Director. The company announced appointment of LIM TUANG OOI, 61 as Independent and Non Executive Member of Nomination and Remuneration Committee. Composition of Nomination and Remuneration Committee(Name and Directorate of members after change) The new composition of the Governance, Nominating and Remuneration Committee will be as follows:- 1) Datuk Zurinah binti Pawanteh (Chairman) - Independent Non- Executive Director 2) Dr Nesadurai Kalanithi (Member) - Independent Non-Executive Director 3) Lim Tuang Ooi (Member) - Independent Non-Executive Director. Date of change 27 Oct 2023. The company announced the appointment of DATUK ZURINAH BINTI PAWANTEH,60, as Independent and Non Executive Chairman of Nomination and Remuneration Committee. Composition of Nomination and Remuneration Committee(Name and Directorate of members after change):- The new composition of the Governance, Nominating and Remuneration Committee will be as follows:- 1) Datuk Zurinah binti Pawanteh (Chairman) - Independent Non- Executive Director 2) Dr Nesadurai Kalanithi (Member) - Independent Non-Executive Director 3) Lim Tuang Ooi (Member) - Independent Non-Executive Director. Date of change 27 Oct 2023. Reported Earnings • Sep 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: RM0.18 (down from RM0.28 in FY 2022). Revenue: RM11.6b (down 26% from FY 2022). Net income: RM1.11b (down 35% from FY 2022). Profit margin: 9.6% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Food industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Sep 28
IOI Corporation Berhad, Annual General Meeting, Oct 27, 2023 IOI Corporation Berhad, Annual General Meeting, Oct 27, 2023, at 10:00 China Standard Time. Location: Millennium Ballroom 1 (Level 1), Le Meridien Putrajaya Lebuh IRC, IOI Resort City Putrajaya Malaysia Agenda: To receive the Audited Financial Statements for the financial year ended 30 June 2023 and the Reports of the Directors and Auditors thereon; to consider directorate reelections; to re-appoint BDO PLT, the retiring Auditors for the financial year ending 30 June 2024 and to authorize the Directors to fix their remuneration; to approve the payment of Directors' benefits (other than Directors' fees) of up to MYR 280,000 for the period from 28 October 2023 until the next Annual General Meeting; and to consider other matters. Announcement • Aug 30
IOI Corporation Berhad Appoints Datuk Zurinah Binti Pawanteh as Independent and Non-Executive Director, Date of Change 1 September 2023 IOI Corporation Berhad announced appointment of Datuk Zurinah Binti Pawanteh as independent and non-executive director. Date of change is 1 September 2023. Age: 60. Qualifications: Masters, Master of Business Administration, Universiti Teknologi MARA (UiTM); Degree, Bachelor of Science, Texas Tech University; Diploma, Diploma in Public Administration, National Institute of Public Administration (INTAN). Working experience and occupation: Datuk Zurinah binti Pawanteh (Datuk Zurinah) has been part of the Malaysian Administrative and Diplomatic Service, which had led her to serve in prominent Government positions of numerous ministries and federal agencies. Currently, Datuk Zurinah is the Chairman of the Malaysian Rubber Board. She is also the former Secretary General of the Ministry of Plantation and Commodities, as well as the Ministry of Energy and Natural Resources and Ministry of Water, Land and Natural Resources (now combined into a single ministry known as the Ministry of Natural Resources, Environment and Climate Change). Prior to this, Datuk Zurinah had also served in various other Ministries/departments in the Malaysian Government. She is a former Director/Trustee for the Malaysian Palm Oil Board (MPOB), Malaysian Palm Oil Council (MPOC), Malaysian Rubber Board (MRB), Malaysian Timber Industries Board (MTIB), National Kenaf and Tobacco Board (LKTN), Malaysian Rubber Council (MRC) and Rubber Industry Smallholders Development Authority (RISDA). On a global scale, she had represented Malaysia as a Director in the International Rubber Consortium (IRCo) Datuk Zurinah is also a former Chairman of the Forest Research Institute of Malaysia (FRIM) and MyPower Corporation (MYPOWER), as well as a former Director of Sustainable Energy Development Authority (SEDA) and Pengurusan Aset Air Berhad (PAAB). Upcoming Dividend • Aug 30
Upcoming dividend of RM0.05 per share at 2.7% yield Eligible shareholders must have bought the stock before 06 September 2023. Payment date: 22 September 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of Malaysian dividend payers (5.1%). Lower than average of industry peers (3.8%). Announcement • Aug 23
IOI Corporation Berhad Announces Second Interim Single Tier Dividend for the Financial Year Ended June 30, 2023, Payable on September 22, 2023 IOI Corporation Berhad announced the Second interim single tier dividend of 5.0 sen per ordinary share for the financial year ended June 30, 2023. Ex-Date is on September 06, 2023 with Entitlement date is on September 07, 2023. Payment Date is on September 22, 2023. Reported Earnings • Aug 23
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: RM0.18 (down from RM0.28 in FY 2022). Revenue: RM11.6b (down 26% from FY 2022). Net income: RM1.11b (down 35% from FY 2022). Profit margin: 9.6% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 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 increased by 22% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • May 31
Third quarter 2023 earnings released: EPS: RM0.032 (vs RM0.066 in 3Q 2022) Third quarter 2023 results: EPS: RM0.032 (down from RM0.066 in 3Q 2022). Revenue: RM2.66b (down 35% from 3Q 2022). Net income: RM197.4m (down 52% from 3Q 2022). Profit margin: 7.4% (down from 10.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% 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 increased by 35% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 07
Upcoming dividend of RM0.06 per share at 3.5% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 24 March 2023. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of Malaysian dividend payers (5.2%). In line with average of industry peers (3.8%).