New Risk • May 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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: Major Risk Earnings have declined by 4.8% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (RM92.7m market cap, or US$23.4m). Reported Earnings • May 28
First quarter 2026 earnings released: EPS: RM0.015 (vs RM0.007 in 1Q 2025) First quarter 2026 results: EPS: RM0.015 (up from RM0.007 in 1Q 2025). Revenue: RM45.0m (flat on 1Q 2025). Net income: RM5.45m (up 116% from 1Q 2025). Profit margin: 12% (up from 5.6% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 16% 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. New Risk • May 20
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 9.0% 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 Earnings have declined by 1.6% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$100m (RM96.3m market cap, or US$24.3m). Buy Or Sell Opportunity • May 07
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.1% to RM0.25. The fair value is estimated to be RM0.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.1% over the last 3 years. Earnings per share has declined by 25%. Announcement • Apr 29
Minho (M) Berhad, Annual General Meeting, May 26, 2026 Minho (M) Berhad, Annual General Meeting, May 26, 2026, at 10:30 Singapore Standard Time. Location: board room of minho (m) berhad, lot 6476, lorong sg. puluh, batu 6, off jalan kapar, 42100 klang, selangor darul ehsan, Malaysia New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings have declined by 1.6% 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 Risk Earnings have declined by 1.6% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (0% payout ratio). Market cap is less than US$100m (RM94.5m market cap, or US$24.3m). Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: RM0.016 (vs RM0.016 in FY 2024) Full year 2025 results: EPS: RM0.016 (in line with FY 2024). Revenue: RM178.3m (down 5.2% from FY 2024). Net income: RM5.71m (flat on FY 2024). Profit margin: 3.2% (up from 3.0% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 25% 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. Reported Earnings • Nov 28
Third quarter 2025 earnings released: EPS: RM0.008 (vs RM0.004 in 3Q 2024) Third quarter 2025 results: EPS: RM0.008 (up from RM0.004 in 3Q 2024). Revenue: RM42.8m (down 8.3% from 3Q 2024). Net income: RM2.73m (up 98% from 3Q 2024). Profit margin: 6.4% (up from 3.0% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 32% 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. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: RM0.006 (vs RM0.006 in 2Q 2024) Second quarter 2025 results: EPS: RM0.006 (in line with 2Q 2024). Revenue: RM43.9m (down 10% from 2Q 2024). Net income: RM2.28m (up 3.3% from 2Q 2024). Profit margin: 5.2% (up from 4.5% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% 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. New Risk • Jun 02
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: 2.5% Last year net profit margin: 4.6% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (RM94.5m market cap, or US$22.2m). Reported Earnings • Jun 02
First quarter 2025 earnings released: EPS: RM0.007 (vs RM0.01 in 1Q 2024) First quarter 2025 results: EPS: RM0.007 (down from RM0.01 in 1Q 2024). Revenue: RM45.3m (down 6.7% from 1Q 2024). Net income: RM2.52m (down 30% from 1Q 2024). Profit margin: 5.6% (down from 7.4% in 1Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 29% 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. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Mohd Bin Abdul Majid was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 29
Minho (M) Berhad, Annual General Meeting, Jun 26, 2025 Minho (M) Berhad, Annual General Meeting, Jun 26, 2025, at 10:30 Singapore Standard Time. Location: board room of minho (m) berhad, lot 6476, lorong sg. puluh, batu 6, off jalan kapar, 42100 klang, selangor darul ehsan, Malaysia Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: RM0.017 (vs RM0.021 in FY 2023) Full year 2024 results: EPS: RM0.017 (down from RM0.021 in FY 2023). Revenue: RM188.3m (down 2.7% from FY 2023). Net income: RM6.16m (down 20% from FY 2023). Profit margin: 3.3% (down from 4.0% in FY 2023). The decrease in margin was driven by lower revenue. 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 6% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 30
Third quarter 2024 earnings released: EPS: RM0.004 (vs RM0.001 in 3Q 2023) Third quarter 2024 results: EPS: RM0.004 (up from RM0.001 in 3Q 2023). Revenue: RM46.7m (down 2.3% from 3Q 2023). Net income: RM1.38m (up 161% from 3Q 2023). Profit margin: 3.0% (up from 1.1% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Announcement • Nov 29
Minho (M) Berhad Announces Redesignation of Dato Loo Keng an @ Lee Kim An from Managing Director to Executive Chairman Minho (M) Berhad announced redesignation of Dato Loo Keng an @ Lee Kim An from Managing Director to Executive Chairman. Age is 78. Date of change is 29 November 2024. Announcement • Nov 25
Minho (M) Berhad AnnounceS Retirement of Resignation of Encik Khibir Bin Razali, Aged 61, as Executive Director Minho (M) Berhad announced retirement of Resignation of ENCIK KHIBIR BIN RAZALI, aged 61, as Executive Director. Date of change 24 November 2024. Announcement • Oct 30
Minho (M) Berhad Announces Resignation of Lim Heng Seong as Joint Secretary Minho (M) Berhad announced resignation of Lim Heng Seong as Joint Secretary, Date Of Change is 31 October 2024. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: RM0.006 (vs RM0.01 in 2Q 2023) Second quarter 2024 results: EPS: RM0.006 (down from RM0.01 in 2Q 2023). Revenue: RM48.8m (flat on 2Q 2023). Net income: RM2.21m (down 38% from 2Q 2023). Profit margin: 4.5% (down from 7.3% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 05
First quarter 2024 earnings released: EPS: RM0.01 (vs RM0.006 in 1Q 2023) First quarter 2024 results: EPS: RM0.01 (up from RM0.006 in 1Q 2023). Revenue: RM48.5m (up 1.3% from 1Q 2023). Net income: RM3.58m (up 54% from 1Q 2023). Profit margin: 7.4% (up from 4.8% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 01
Minho (M) Berhad, Annual General Meeting, Jun 28, 2024 Minho (M) Berhad, Annual General Meeting, Jun 28, 2024, at 10:30 Singapore Standard Time. Location: Board Room of the Company, Lot 6476, Lorong Sg. Puluh, Batu 6, Off Jalan Kapar 42100 Klang, Selangor Darul Ehsan Selangor 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 of up to MYR 350,000.00 payable to the Directors of the Company from the conclusion of the 33rd AGM up till the conclusion of the next Annual General Meeting of the Company to be held in 2025; to re-appoint Messrs. Ecovis Malaysia PLT as Auditors of the Company and to authorise the Directors to fix their remuneration; and to consider other matters. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: RM0.016 (vs RM0.032 in FY 2022) Full year 2023 results: EPS: RM0.016 (down from RM0.032 in FY 2022). Revenue: RM193.4m (down 15% from FY 2022). Net income: RM5.71m (down 49% from FY 2022). Profit margin: 3.0% (down from 5.0% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 01
Third quarter 2023 earnings released: EPS: RM0.002 (vs RM0.003 in 3Q 2022) Third quarter 2023 results: EPS: RM0.002 (down from RM0.003 in 3Q 2022). Revenue: RM47.8m (down 6.1% from 3Q 2022). Net income: RM530.0k (down 50% from 3Q 2022). Profit margin: 1.1% (down from 2.1% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 01
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: RM48.9m (down 25% from 2Q 2022). Net income: RM3.58m (up 28% from 2Q 2022). Profit margin: 7.3% (up from 4.3% in 2Q 2022). The increase in margin was driven by lower expenses. Reported Earnings • Jun 02
First quarter 2023 earnings released: EPS: RM0.007 (vs RM0.013 in 1Q 2022) First quarter 2023 results: EPS: RM0.007 (down from RM0.013 in 1Q 2022). Revenue: RM47.9m (down 28% from 1Q 2022). Net income: RM2.32m (down 49% from 1Q 2022). Profit margin: 4.8% (down from 6.8% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: RM0.021 (vs RM0.022 in FY 2021) Full year 2022 results: EPS: RM0.021 (down from RM0.022 in FY 2021). Revenue: RM227.3m (up 2.2% from FY 2021). Net income: RM7.49m (down 2.9% from FY 2021). Profit margin: 3.3% (down from 3.5% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Dec 03
Minho (M) Berhad Announces Resignation of Tan Choon Hian as Non Independent and Non Executive Member of Audit Committee Minho (M) Berhad announced resignation of Tan Choon Hian as Non Independent and Non Executive Member of Audit Committee. Age: 66. Gender: Male. Composition of Audit Committee (Name and Directorate of members after change): Tuan Haji Mohd Faizal Bin Haji Abdul Majid (Chairman) (Independent Non-Executive Director); Lim Kim Meng (Member) (Independent Non-Executive Director); Jeannie Lim Li Tein (Member) (Independent Non-Executive Director). Date of change: 01 Dec 2022. Reported Earnings • Dec 03
Third quarter 2022 earnings released: EPS: RM0.003 (vs RM0.002 loss in 3Q 2021) Third quarter 2022 results: EPS: RM0.003 (up from RM0.002 loss in 3Q 2021). Revenue: RM50.9m (up 73% from 3Q 2021). Net income: RM1.05m (up RM1.73m from 3Q 2021). Profit margin: 2.1% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Sep 20
Minho (M) Berhad Announces Appointment of Mak Chooi Peng as Company Secretary Minho (M) Berhad announced appointment of MAK CHOOI PENG as company secretary. License no: MAICSA 7017931 PRACTITIONER. Date of change is 20 September 2022. Announcement • Sep 15
Minho (M) Berhad Announces Resignation of Tan Choon Hian as Company Secretary Minho (M) Berhad announces resignation of Tan Choon Hian as Company Secretary. Date Of Change 14 Sep. 2022. He has been involved in corporate secretarial work for more than 30 years. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: RM0.008 (vs RM0.001 in 2Q 2021) Second quarter 2022 results: EPS: RM0.008 (up from RM0.001 in 2Q 2021). Revenue: RM64.7m (up 11% from 2Q 2021). Net income: RM2.79m (up RM2.56m from 2Q 2021). Profit margin: 4.3% (up from 0.4% in 2Q 2021). The increase in margin was driven by higher revenue. 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 8% per year, which means it is significantly lagging earnings growth. Announcement • Jun 02
Minho (M) Berhad Appoints Jeannie Lim Li Tein as Independent and Non Executive Member of Nomination and Remuneration Committee Minho (M) Berhad appointed Miss Jeannie Lim Li Tein as Independent and Non Executive Member of Nomination and Remuneration Committee. Date of change is May 31, 2022. The composition of Nomination and Remuneration Committee (Name and Directorate of members after change) is Lim Kim Meng (Chairman) (Independent Non-Executive Director); Tuan Haji Mohd Faizal Bin Haji Abdul Majid (Member) (Independent Non-Executive Director) and Jeannie Lim Li Tein (Member) (Independent Non-Executive Director). Reported Earnings • Jun 01
First quarter 2022 earnings released: EPS: RM0.013 (vs RM0.007 in 1Q 2021) First quarter 2022 results: EPS: RM0.013 (up from RM0.007 in 1Q 2021). Revenue: RM67.0m (up 17% from 1Q 2021). Net income: RM4.58m (up 91% from 1Q 2021). Profit margin: 6.8% (up from 4.2% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 02
Minho (M) Berhad, Annual General Meeting, Jun 28, 2022 Minho (M) Berhad, Annual General Meeting, Jun 28, 2022, at 10:30 China Standard Time. Location: Minho (M) Berhad, Board Room, Lot 6476 Lorong Sg. Puluh, Batu 6, Off Jalan Kapar 42100 Klang, Selangor Darul Ehsan Selangor Malaysia Agenda: To consider directorate reelections; to consider Re-appointment Ecovis Malaysia PLT as auditors of the Company until the next AGM of the Company; to consider Proposed renewal of Authority to issue shares Pursuant to Section 75 of the Companies Act, 2016; and to consider other matters. Reported Earnings • Apr 07
Full year 2021 earnings released: EPS: RM0.022 (vs RM0.009 in FY 2020) Full year 2021 results: EPS: RM0.022 (up from RM0.009 in FY 2020). Revenue: RM222.3m (up 10% from FY 2020). Net income: RM7.71m (up 148% from FY 2020). Profit margin: 3.5% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Mar 01
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: RM0.023 (up from RM0.009 in FY 2020). Revenue: RM222.1m (up 10% from FY 2020). Net income: RM8.11m (up 161% from FY 2020). Profit margin: 3.7% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Buying Opportunity • Jan 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 10%. The fair value is estimated to be RM0.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 12% per annum over the last 3 years. Earnings per share has declined by 70% per annum over the last 3 years. Reported Earnings • Dec 01
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: RM0.002 loss per share (down from RM0.005 profit in 3Q 2020). Revenue: RM29.5m (down 50% from 3Q 2020). Net loss: RM676.0k (down 140% from profit in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 65 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 01
Second quarter 2021 earnings released: EPS RM0.001 (vs RM0.007 in 2Q 2020) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: RM58.2m (up 23% from 2Q 2020). Net income: RM225.0k (down 90% from 2Q 2020). Profit margin: 0.4% (down from 4.9% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 26
Full year 2020 earnings released: EPS RM0.009 (vs RM0.007 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM201.6m (down 22% from FY 2019). Net income: RM3.11m (up 29% from FY 2019). Profit margin: 1.5% (up from 0.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS RM0.009 (vs RM0.007 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: RM201.8m (down 22% from FY 2019). Net income: RM3.11m (up 29% from FY 2019). Profit margin: 1.5% (up from 0.9% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 17
New 90-day high: RM0.41 The company is up 25% from its price of RM0.33 on 19 November 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is flat over the same period. Is New 90 Day High Low • Dec 12
New 90-day high: RM0.36 The company is up 13% from its price of RM0.32 on 11 September 2020. The Malaysian market is up 11% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Forestry industry, which is up 21% over the same period. Reported Earnings • Dec 01
Third quarter 2020 earnings released: EPS RM0.005 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: RM58.8m (down 7.1% from 3Q 2019). Net income: RM1.67m (down 2.6% from 3Q 2019). Profit margin: 2.8% (up from 2.7% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Jun 18
Minho (M) Berhad Announces the Reopening of Timber Complex in Bandar Pusat Jengka, Pahang Darul Makmur On 15 June 2020, Minho (M) Berhad announced that all the affected tenants mentioned in the earlier announcement have received notice from Ministry of Health Malaysia allowing them to reopen the mills and resume operation.