Reported Earnings • May 27
First quarter 2026 earnings released: RM0.003 loss per share (vs RM0 in 1Q 2025) First quarter 2026 results: RM0.003 loss per share (further deteriorated from RM0 in 1Q 2025). Revenue: RM55.1m (down 33% from 1Q 2025). Net loss: RM4.15m (down RM4.49m from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Apr 30
Leform Berhad, Annual General Meeting, Jun 23, 2026 Leform Berhad, Annual General Meeting, Jun 23, 2026, at 10:00 Singapore Standard Time. Location: level 2 (johor kedah room), world trade centre kuala lumpur, 41, jalan tun ismail, chow kit, 50480 kuala lumpur, wilayah persekutuan kuala lumpur, Malaysia Announcement • Mar 13
Leform Berhad has completed a Follow-on Equity Offering. Leform Berhad has completed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 148,101,300
Transaction Features: Subsequent Direct Listing Reported Earnings • Mar 02
Full year 2025 earnings released: RM0.003 loss per share (vs RM0.002 profit in FY 2024) Full year 2025 results: RM0.003 loss per share (down from RM0.002 profit in FY 2024). Revenue: RM322.8m (down 20% from FY 2024). Net loss: RM5.26m (down 317% from profit in FY 2024). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 28
Third quarter 2025 earnings released: EPS: RM0 (vs RM0.001 loss in 3Q 2024) Third quarter 2025 results: EPS: RM0 (improved from RM0.001 loss in 3Q 2024). Revenue: RM85.0m (down 7.3% from 3Q 2024). Net income: RM548.0k (up RM1.51m from 3Q 2024). Profit margin: 0.6% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: RM0 (vs RM0 in 2Q 2024) Second quarter 2025 results: EPS: RM0 (in line with 2Q 2024). Revenue: RM82.0m (down 16% from 2Q 2024). Net income: RM618.0k (up 87% from 2Q 2024). Profit margin: 0.8% (up from 0.3% in 2Q 2024). The increase in margin was driven by lower expenses. Reported Earnings • May 30
First quarter 2025 earnings released: EPS: RM0 (vs RM0.001 in 1Q 2024) First quarter 2025 results: EPS: RM0 (down from RM0.001 in 1Q 2024). Revenue: RM82.6m (down 23% from 1Q 2024). Net income: RM332.0k (down 80% from 1Q 2024). Profit margin: 0.4% (down from 1.6% in 1Q 2024). The decrease in margin was driven by lower revenue. Announcement • Apr 30
Leform Berhad, Annual General Meeting, Jun 23, 2025 Leform Berhad, Annual General Meeting, Jun 23, 2025, at 10:00 Singapore Standard Time. Location: level 2 (johor kedah room), world trade centre kuala lumpur, 41, jalan tun ismail, chow kit, 50480 kuala lumpur, wilayah persekutuan, kuala lumpur, Malaysia New Risk • Mar 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (RM185.1m market cap, or US$41.9m). Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: RM0.002 (vs RM0.003 loss in FY 2023) Full year 2024 results: EPS: RM0.002 (up from RM0.003 loss in FY 2023). Revenue: RM392.8m (up 6.2% from FY 2023). Net income: RM2.42m (up RM7.38m from FY 2023). Profit margin: 0.6% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Board Change • Mar 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. 5 experienced directors. 1 highly experienced director. Executive Non-Independent Director Harry Law 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. New Risk • Jan 12
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 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings have declined by 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (RM199.9m market cap, or US$44.5m). Reported Earnings • Nov 19
Third quarter 2024 earnings released: RM0.001 loss per share (vs RM0.007 loss in 3Q 2023) Third quarter 2024 results: RM0.001 loss per share (improved from RM0.007 loss in 3Q 2023). Revenue: RM91.8m (up 7.8% from 3Q 2023). Net loss: RM965.0k (loss narrowed 91% from 3Q 2023). Announcement • Nov 01
Leform Berhad Announces Appointment of Wong Kian Ning as Chief Financial Officer Leform Berhad announced appointment of Wong Kian Ning as Chief Financial Officer. Age: 37, Gender: Male. Date of change: November 1, 2024. Qualifications: Degree: Accounting: Universiti Utara Malaysia (Bachelor of Accounting with Honours). Professional qualification: Accounting: Malaysian Institute of Accountants . Professional qualification: Accounting: Certified Practicing Accountant of Australia (CPA). Working experience: Mr. Wong is an experienced finance professional with over 13 years in audit, accounting, and finance. He has held senior roles across diverse sectors, including a Big 4 accounting firm, multinational corporations, manufacturing, and renewable energy. His career also includes involvement with listed companies, reverse takeovers, and fundraising exercises. Announcement • Oct 29
Leform Berhad Announces Resignation of NG Tiong Lim as Chief Financial Officer Leform Berhad announced resignation of Mr. NG Tiong Lim, Age 40, as Chief Financial Officer. Date of change: October 29, 2024. Reason: Career progression. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0 (vs RM0 in 2Q 2023) Second quarter 2024 results: EPS: RM0 (in line with 2Q 2023). Revenue: RM97.4m (up 32% from 2Q 2023). Net income: RM331.0k (down 36% from 2Q 2023). Profit margin: 0.3% (down from 0.7% in 2Q 2023). The decrease in margin was driven by higher expenses. Announcement • Jul 16
Leform Berhad Appoints Law Kar Hou as Executive Non-Independent Director Leform Berhad appointed Mr. Law Kar Hou as Executive Non-Independent Director. Date of change is 16 July 2024. Age: 24. No Qualifications: Degree. Major/Field of Study: Accountancy. Institute/University: Brunel University London. Additional Information: Bachelor of Science with second class (upper division) honours in Accountancy. Working experience: Mr. Harry Law completed an internship from 7 September 2022 to 6 December 2022, where he worked in the Operations Department of Penjana Kapital Sdn Bhd. His responsibilities included performing clerical tasks, managing day-to-day payments as well as the processing of capital calls, for the distribution of funds to investments. Additionally, he also served as an investment analyst, conducting comprehensive due diligence and deal assessments for new investment opportunities. Following the completion of his internship, Mr. Harry Law transitioned to Leform Berhad, assuming the role of Executive Assistant to the Managing Director. In this capacity, Mr. Harry Law supports the Managing Directors leadership by assisting in strategic initiatives and coordinating administrative functions. Additionally, Mr. Harry Law holds the responsibilities in overseeing the production planning of Leform Berhad's manufacturing division. Family relationship with any director and/or major shareholder of the listed issuer Mr. Law Kar Hou is the son of Mr. Law Kok Thye, the Managing Director and Substantial shareholder of the Company: Any conflict of interests that he/she has with the listed issuer Save for the relationship with the Managing Director, he has no other conflict of interest with the Company. Details of any interest in the securities of the listed issuer or its subsidiaries Direct Interest - 2,100,000. Mr. Law Kar Hou is the son of Mr. Law Kok Thye, the Managing Director and Substantial shareholder of the Company. Reported Earnings • May 25
First quarter 2024 earnings released: EPS: RM0.001 (vs RM0.001 in 1Q 2023) First quarter 2024 results: EPS: RM0.001 (in line with 1Q 2023). Revenue: RM106.9m (up 4.2% from 1Q 2023). Net income: RM1.70m (down 9.4% from 1Q 2023). Profit margin: 1.6% (down from 1.8% in 1Q 2023). The decrease in margin was driven by higher expenses. Announcement • May 01
Leform Berhad, Annual General Meeting, Jun 24, 2024 Leform Berhad, Annual General Meeting, Jun 24, 2024, at 10:00 Singapore Standard Time. Location: Level 2 (Johor Kedah Room), World Trade Centre Kuala Lumpur 41, Jalan Tun Ismail, Chow Kit, 50480 Kuala Lumpur Kuala Lumpur Wilayah Persekutuan Malaysia Agenda: To receive the Audited Financial Statements 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 and benefits payable of MYR 822,000 to the Directors of the Company for the period from 1 December 2022 to the forthcoming 29th AGM of the Company; to re-elect Puan Esmariza Binti Ismail who retire in accordance with Clause 95 of the Constitution of the Company; and to consider other matters. Announcement • Mar 14
Leform Berhad Announces Resignation of Phang Yew Cheong @ Phang Yew Choong as Non-Independent Director Leform Berhad announced resignation of Mr. Phang Yew Cheong @ Phang Yew Choong as Non-Independent Director. Age is 65. Date of change is March 13, 2024. Reason is Early retirement. Reported Earnings • Feb 28
Full year 2023 earnings released: RM0.003 loss per share (vs RM0.006 loss in FY 2022) Full year 2023 results: RM0.003 loss per share (improved from RM0.006 loss in FY 2022). Revenue: RM370.0m (flat on FY 2022). Net loss: RM4.96m (loss narrowed 32% from FY 2022). New Risk • Jan 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Malaysian stocks, typically moving 14% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.0% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 37% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM399.9m market cap, or US$85.2m). Reported Earnings • Nov 21
Third quarter 2023 earnings released: RM0.007 loss per share (vs RM0.003 loss in 3Q 2022) Third quarter 2023 results: RM0.007 loss per share (further deteriorated from RM0.003 loss in 3Q 2022). Revenue: RM85.2m (up 17% from 3Q 2022). Net loss: RM11.1m (loss widened 194% from 3Q 2022). Reported Earnings • Aug 22
Second quarter 2023 earnings released: EPS: RM0 (vs RM0.005 in 2Q 2022) Second quarter 2023 results: EPS: RM0 (down from RM0.005 in 2Q 2022). Revenue: RM73.7m (down 35% from 2Q 2022). Net income: RM520.0k (down 91% from 2Q 2022). Profit margin: 0.7% (down from 5.3% in 2Q 2022). The decrease in margin was driven by lower revenue. New Risk • Jun 25
New major risk - Revenue and earnings growth Earnings have declined by 0.2% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 0.2% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM311.0m market cap, or US$66.5m). Reported Earnings • May 23
First quarter 2023 earnings released: EPS: RM0.001 (vs RM0.005 in 1Q 2022) First quarter 2023 results: EPS: RM0.001 (down from RM0.005 in 1Q 2022). Revenue: RM102.6m (up 1.5% from 1Q 2022). Net income: RM1.87m (down 70% from 1Q 2022). Profit margin: 1.8% (down from 6.2% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 2 years, compared to a 2.8% growth forecast for the Metals and Mining industry in Malaysia. Reported Earnings • Mar 01
Full year 2022 earnings released: RM0.005 loss per share (vs RM0.038 profit in FY 2021) Full year 2022 results: RM0.005 loss per share (down from RM0.038 profit in FY 2021). Revenue: RM373.4m (flat on FY 2021). Net loss: RM7.26m (down 116% from profit in FY 2021). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 3.8% growth forecast for the Metals and Mining industry in Malaysia. Reported Earnings • Dec 03
Third quarter 2022 earnings released Third quarter 2022 results: RM0.003 loss per share. Net loss: RM3.78m (flat on 3Q 2021). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Metals and Mining industry in Malaysia. Buying Opportunity • Nov 30
Now 32% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be RM0.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last year. Earnings per share has grown by 16%. Revenue is forecast to grow by 4.6% in 2 years. Earnings is forecast to grow by 36% in the next 2 years. Board Change • Nov 30
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. MD & Director Kok Thye Law is the most experienced director on the board, commencing their role in 2003. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.