Reported Earnings • May 23
Full year 2026 earnings released: EPS: RM0.27 (vs RM0.27 in FY 2025) Full year 2026 results: EPS: RM0.27 (up from RM0.27 in FY 2025). Revenue: RM918.9m (down 17% from FY 2025). Net income: RM37.4m (up 1.8% from FY 2025). Profit margin: 4.1% (up from 3.3% in FY 2025). The increase in margin was driven by lower expenses. 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 3% per year, which means it is significantly lagging earnings. New Risk • Feb 24
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: 1.9% Last year net profit margin: 3.4% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 21% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (1.9% net profit margin). Reported Earnings • Feb 24
Third quarter 2026 earnings released: EPS: RM0.035 (vs RM0.18 in 3Q 2025) Third quarter 2026 results: EPS: RM0.035 (down from RM0.18 in 3Q 2025). Revenue: RM235.9m (down 22% from 3Q 2025). Net income: RM4.85m (down 81% from 3Q 2025). Profit margin: 2.1% (down from 8.2% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. New Risk • Nov 28
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM410.8m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 18% per year over the past 5 years. Minor Risk Market cap is less than US$100m (RM410.8m market cap, or US$99.4m). Reported Earnings • Nov 20
Second quarter 2026 earnings released: EPS: RM0.068 (vs RM0.038 in 2Q 2025) Second quarter 2026 results: EPS: RM0.068 (up from RM0.038 in 2Q 2025). Revenue: RM255.1m (down 14% from 2Q 2025). Net income: RM9.29m (up 80% from 2Q 2025). Profit margin: 3.6% (up from 1.7% in 2Q 2025). 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. Upcoming Dividend • Oct 09
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 16 October 2025. Payment date: 11 November 2025. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Malaysian dividend payers (5.4%). Lower than average of industry peers (3.0%). Announcement • Sep 05
Kong Global Capital Sdn. Bhd. completed the acquisition of an unknown minority stake in Pke (Malaysia) Sdn Bhd from Southern Acids (M) Berhad (KLSE:SAB). Kong Global Capital Sdn. Bhd. agreed to acquire an unknown minority stake in Pke (Malaysia) Sdn Bhd from Southern Acids (M) Berhad (KLSE:SAB) on March 24, 2025. In a related transaction, Lim Wei Chuen also finalized an agreement to acquire an unknown minority stake in Pke (Malaysia) Sdn Bhd. Together, these disposals involved the sale of 936,500 shares to Lim Wei Chuen and 36,250 shares to Kong Global Capital Sdn Bhd.
Kong Global Capital Sdn. Bhd. completed the acquisition of an unknown minority stake in Pke (Malaysia) Sdn Bhd from Southern Acids (M) Berhad (KLSE:SAB) on August 27, 2025. Announcement • Sep 04
Lim Wei Chuen completed the acquisition of minority stake in Pke (Malaysia) Sdn Bhd from Southern Acids (M) Berhad (KLSE:SAB). Lim Wei Chuen entered into a share sale agreement to acquire an unknown minority stake in Pke (Malaysia) Sdn Bhd from Southern Acids (M) Berhad (KLSE:SAB) on March 24, 2025. In a related transaction, Kong Global Capital Sdn Bhd also finalized an agreement to acquire an unknown minority stake in Pke (Malaysia) Sdn Bhd. Together, these disposals involved the sale of 936,500 shares to Lim Wei Chuen and 36,250 shares to Kong Global Capital Sdn Bhd.
Lim Wei Chuen completed the acquisition of minority stake in Pke (Malaysia) Sdn Bhd from Southern Acids (M) Berhad (KLSE:SAB) on July 15, 2025. Reported Earnings • Aug 31
First quarter 2026 earnings released: RM0.002 loss per share (vs RM0.012 profit in 1Q 2025) First quarter 2026 results: RM0.002 loss per share (down from RM0.012 profit in 1Q 2025). Revenue: RM226.1m (down 6.2% from 1Q 2025). Net loss: RM321.0k (down 119% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 31
Full year 2025 earnings released: EPS: RM0.27 (vs RM0.10 in FY 2024) Full year 2025 results: EPS: RM0.27 (up from RM0.10 in FY 2024). Revenue: RM1.11b (up 20% from FY 2024). Net income: RM36.7m (up 169% from FY 2024). Profit margin: 3.3% (up from 1.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% 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. Declared Dividend • Jul 30
Dividend of RM0.05 announced Dividend of RM0.05 is the same as last year. Ex-date: 16th October 2025 Payment date: 11th November 2025 Dividend yield will be 1.5%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by both earnings (19% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has not increased over the past 10 years but has been stable with no material reductions to payments, indicating a long track record of dividend stability. Earnings per share has grown by 2.8% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 28
Southern Acids (M) Berhad, Annual General Meeting, Aug 29, 2025 Southern Acids (M) Berhad, Annual General Meeting, Aug 29, 2025, at 11:30 Singapore Standard Time. Location: ballroom 3, level 1, wyndham acmar klang hotel, no. 1-g-1, jalan persiaran bukit raja 2/ku1, bandar baru klang, 41150 klang, selangor darul ehsan, Malaysia Reported Earnings • May 30
Full year 2025 earnings released: EPS: RM0.27 (vs RM0.10 in FY 2024) Full year 2025 results: EPS: RM0.27 (up from RM0.10 in FY 2024). Revenue: RM1.09b (up 19% from FY 2024). Net income: RM36.7m (up 169% from FY 2024). Profit margin: 3.4% (up from 1.5% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 61% 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. Reported Earnings • Feb 20
Third quarter 2025 earnings released: EPS: RM0.18 (vs RM0.033 in 3Q 2024) Third quarter 2025 results: EPS: RM0.18 (up from RM0.033 in 3Q 2024). Revenue: RM303.1m (up 30% from 3Q 2024). Net income: RM25.0m (up 447% from 3Q 2024). Profit margin: 8.2% (up from 2.0% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 27
Second quarter 2025 earnings released: EPS: RM0.038 (vs RM0.039 loss in 2Q 2024) Second quarter 2025 results: EPS: RM0.038 (up from RM0.039 loss in 2Q 2024). Revenue: RM298.1m (up 28% from 2Q 2024). Net income: RM5.16m (up RM10.5m from 2Q 2024). Profit margin: 1.7% (up from net loss in 2Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. New Risk • Oct 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM430.0m (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 4.0% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (RM430.0m market cap, or US$99.9m). Upcoming Dividend • Oct 10
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 17 October 2024. Payment date: 11 November 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 1.6%. Lower than top quartile of Malaysian dividend payers (4.7%). Lower than average of industry peers (2.0%). New Risk • Aug 24
New major risk - Revenue and earnings growth Earnings have declined by 4.0% 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 4.0% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (RM431.3m market cap, or US$98.6m). Reported Earnings • Jul 30
Full year 2024 earnings released: EPS: RM0.10 (vs RM0.24 in FY 2023) Full year 2024 results: EPS: RM0.10 (down from RM0.24 in FY 2023). Revenue: RM920.2m (down 17% from FY 2023). Net income: RM13.6m (down 59% from FY 2023). Profit margin: 1.5% (down from 3.0% 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 37% 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 • Jul 25
Southern Acids (M) Berhad, Annual General Meeting, Aug 26, 2024 Southern Acids (M) Berhad, Annual General Meeting, Aug 26, 2024, at 11:30 Singapore Standard Time. Location: level 29, centro tower, the edison board room, no.8, jalan batu tiga lama, 41300 klang, selangor darul ehsan, Malaysia New Risk • Jun 25
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM468.3m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (1.5% net profit margin). Market cap is less than US$100m (RM468.3m market cap, or US$99.5m). Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: RM0.10 (vs RM0.24 in FY 2023) Full year 2024 results: EPS: RM0.10 (down from RM0.24 in FY 2023). Revenue: RM908.0m (down 18% from FY 2023). Net income: RM13.9m (down 58% from FY 2023). Profit margin: 1.5% (down from 3.0% 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 37% 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 • Mar 21
Southern Acids (M) Berhad Announces Redesignation of Chung Kin Mun from Independent Director to Non Independent and Non Executive Director Southern Acids (M) Berhad announced redesignation of Mr. Chung Kin Mun from previous position of Independent Director to new position Non Independent and Non Executive Director. Date of change is 20 March 2024, age is 56, gender is male, nationality is Malaysia. Reported Earnings • Mar 02
Third quarter 2024 earnings released: EPS: RM0.033 (vs RM0.12 in 3Q 2023) Third quarter 2024 results: EPS: RM0.033 (down from RM0.12 in 3Q 2023). Revenue: RM232.6m (down 16% from 3Q 2023). Net income: RM4.57m (down 73% from 3Q 2023). Profit margin: 2.0% (down from 6.1% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 23% 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 • Feb 09
Southern Acids (M) Berhad (KLSE:SAB) entered into agreement to acquire remaining 10% stake in Firstview Development Sdn Bhd from Low Mong Hua Sdn Berhad for RM 23.5 million. Southern Acids (M) Berhad (KLSE:SAB) entered into agreement to acquire remaining 10% stake in Firstview Development Sdn Bhd from Low Mong Hua Sdn Berhad for RM 23.5 million on February 8, 2024. Consideration consist of an intial payment of RM 1.5 million upon signing the agreement second payment of RM 4.5 million upon completion of share transfer third payment of RM 4.5 million on or before March 1, 2025 fourth payment of RM 4.5 million on or before March 1, 2026 fifth payment of RM 4.5 million on or before March 1, 2027 and last payment of RM 4 million on or before March 1, 2028. The transaction is expected to close at the end of February 2024. Reported Earnings • Nov 29
Second quarter 2024 earnings released: RM0.039 loss per share (vs RM0.081 profit in 2Q 2023) Second quarter 2024 results: RM0.039 loss per share (down from RM0.081 profit in 2Q 2023). Revenue: RM232.5m (down 17% from 2Q 2023). Net loss: RM5.38m (down 148% from profit in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 5% per year. Upcoming Dividend • Sep 26
Upcoming dividend of RM0.05 per share at 1.5% yield Eligible shareholders must have bought the stock before 03 October 2023. Payment date: 26 October 2023. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of Malaysian dividend payers (5.0%). Lower than average of industry peers (3.8%). Announcement • Aug 31
Southern Acids (M) Berhad Announces Appointment of Deborah Deb-Bie Choa as Independent and Non Executive Director Southern Acids (M) Berhad announced appointment of Madam Deborah Deb-Bie Choa as Independent and Non Executive Director. Age 52, Date of change 30 August 2023. Qualifications: Others-Barrister at Law of England and Wales-The Honourable Society of Lincoln's Inn, Degree-Bachelor of Laws LLB Law-University of Leicester. Working experience: Madam Deborah started her career as a lawyer, for the first 3 years in litigation followed by 16 years in the corporate field. As a partner in a boutique leading law firm, her areas of practice extended to cover Corporate Finance, Capital Markets (Islamic & Conventional), Mergers & Acquisitions, Debt Restructuring, General Corporate & Commercial. From 2015 until early 2022, she was part of the founding team of Projek57, an award-winning accredited social enterprise which aspires to influence youths from multicultural backgrounds with nation building values, as well as empower the underprivileged. Since April 2022, she rejoined legal practice as the Chief Operating Officer of the law firm of Adnan Sundra & Low where she is able to combine her legal experience with management. She also focuses on exploring ways to enhance the practice of the firm including enhancing efficiency and overall capability and formulating their business strategies. Reported Earnings • Aug 30
First quarter 2024 earnings released: EPS: RM0.067 (vs RM0.11 in 1Q 2023) First quarter 2024 results: EPS: RM0.067 (down from RM0.11 in 1Q 2023). Revenue: RM215.3m (down 28% from 1Q 2023). Net income: RM9.13m (down 39% from 1Q 2023). Profit margin: 4.2% (down from 5.0% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. New Risk • Aug 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: RM457.4m (US$99.7m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (3.0% net profit margin). Market cap is less than US$100m (RM457.4m market cap, or US$99.7m). Reported Earnings • Jul 30
Full year 2023 earnings released: EPS: RM0.24 (vs RM0.69 in FY 2022) Full year 2023 results: EPS: RM0.24 (down from RM0.69 in FY 2022). Revenue: RM1.11b (down 6.3% from FY 2022). Net income: RM33.3m (down 65% from FY 2022). Profit margin: 3.0% (down from 8.0% 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 22% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • May 27
Full year 2023 earnings released: EPS: RM0.24 (vs RM0.69 in FY 2022) Full year 2023 results: EPS: RM0.24 (down from RM0.69 in FY 2022). Revenue: RM1.10b (down 6.9% from FY 2022). Net income: RM33.3m (down 65% from FY 2022). Profit margin: 3.0% (down from 8.0% 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 22% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 25
Third quarter 2023 earnings released: EPS: RM0.12 (vs RM0.20 in 3Q 2022) Third quarter 2023 results: EPS: RM0.12 (down from RM0.20 in 3Q 2022). Revenue: RM275.9m (down 10% from 3Q 2022). Net income: RM16.8m (down 38% from 3Q 2022). Profit margin: 6.1% (down from 8.8% 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 36% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 25
Second quarter 2023 earnings released: EPS: RM0.082 (vs RM0.13 in 2Q 2022) Second quarter 2023 results: EPS: RM0.082 (down from RM0.13 in 2Q 2022). Revenue: RM280.1m (up 14% from 2Q 2022). Net income: RM11.2m (down 35% from 2Q 2022). Profit margin: 4.0% (down from 6.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Price Target Changed • Nov 16
Price target decreased to RM3.40 Down from RM3.68, the current price target is provided by 1 analyst. New target price is 8.1% below last closing price of RM3.70. Stock is down 2.6% over the past year. The company posted earnings per share of RM0.69 last year. Board Change • Nov 16
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. 1 experienced director. 4 highly experienced directors. MD & Non-Independent Executive Director Nick Low was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Nov 01
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 08 November 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 8.0% and this is well supported by cash flows. Trailing yield: 1.4%. Lower than top quartile of Malaysian dividend payers (5.3%). Lower than average of industry peers (5.6%). Reported Earnings • Aug 02
Full year 2022 earnings released: EPS: RM0.69 (vs RM0.27 in FY 2021) Full year 2022 results: EPS: RM0.69 (up from RM0.27 in FY 2021). Revenue: RM1.18b (up 58% from FY 2021). Net income: RM94.4m (up 153% from FY 2021). Profit margin: 8.0% (up from 5.0% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • May 20
Southern Acids (M) Berhad Recommends Single Tier Final Dividend for the Financial Year Ended March 31, 2022 Southern Acids (M) Berhad announced that its Board of Directors had recommended a Single Tier Final Dividend of 5.0 sen per ordinary share, amounting to a total payout of MYR 6,846,706.60 in respect of the financial year ended March 31, 2022. This dividend proposal is subject to the approval by shareholders at the upcoming Annual General Meeting of the Company. Reported Earnings • May 20
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: EPS: RM0.69 (up from RM0.27 in FY 2021). Revenue: RM1.18b (up 58% from FY 2021). Net income: RM94.5m (up 153% from FY 2021). Profit margin: 8.0% (up from 5.0% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) exceeded analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 27
Price target decreased to RM3.40 Down from RM3.68, the current price target is provided by 1 analyst. New target price is 13% below last closing price of RM3.89. Stock is up 3.2% over the past year. The company posted earnings per share of RM0.27 last year. Board Change • Apr 27
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. 2 experienced directors. 3 highly experienced directors. MD & Non-Independent Executive Director Nick Low was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Third quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2022 results: EPS: RM0.20 (up from RM0.041 in 3Q 2021). Revenue: RM307.2m (up 66% from 3Q 2021). Net income: RM27.2m (up 387% from 3Q 2021). Profit margin: 8.8% (up from 3.0% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) exceeded analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 29
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: RM0.13 (up from RM0.06 in 2Q 2021). Revenue: RM246.7m (up 41% from 2Q 2021). Net income: RM17.1m (up 110% from 2Q 2021). Profit margin: 6.9% (up from 4.7% in 2Q 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 7.2%. Earnings per share (EPS) exceeded analyst estimates by 11%. Earnings per share (EPS) surpassed analyst estimates by 11%. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 22
First quarter 2022 earnings released: EPS RM0.17 (vs RM0.13 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2022 results: Revenue: RM258.0m (up 63% from 1Q 2021). Net income: RM23.5m (up 37% from 1Q 2021). Profit margin: 9.1% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Upcoming Dividend • Aug 26
Upcoming dividend of RM0.05 per share Eligible shareholders must have bought the stock before 02 September 2021. Payment date: 24 September 2021. Trailing yield: 1.3%. Lower than top quartile of Malaysian dividend payers (4.1%). Lower than average of industry peers (1.8%). Reported Earnings • Aug 03
Full year 2021 earnings released: EPS RM0.27 (vs RM0.23 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: RM745.9m (up 12% from FY 2020). Net income: RM37.4m (up 17% from FY 2020). Profit margin: 5.0% (up from 4.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 30
Price target decreased to RM3.40 Down from RM3.68, the current price target is provided by 1 analyst. New target price is 12% below last closing price of RM3.85. Stock is up 6.6% over the past year. Reported Earnings • May 28
Full year 2021 earnings released: EPS RM0.27 (vs RM0.23 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: RM741.1m (up 11% from FY 2020). Net income: RM37.4m (up 17% from FY 2020). Profit margin: 5.0% (up from 4.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • May 26
Southern Acids (M) Berhad Recommends Final Dividend for the Year Ended March 31, 2021 Board of Directors of Southern Acids (M) Berhad had recommended a Single Tier Final Dividend of 5.0 sen per ordinary share, amounting to a total payout of MYR 6,846,706.60 in respect of the financial year ended 31 March 2021. This dividend proposal is subject to the approval by shareholders at the forthcoming Annual General Meeting of the Company. Reported Earnings • Feb 27
Third quarter 2021 earnings released: EPS RM0.041 (vs RM0.076 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: RM185.6m (up 8.4% from 3Q 2020). Net income: RM5.58m (down 47% from 3Q 2020). Profit margin: 3.0% (down from 6.1% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 14
New 90-day high: RM3.88 The company is up 7.0% from its price of RM3.61 on 15 September 2020. The Malaysian market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 35% over the same period. Announcement • Nov 27
Southern Acids (M) Berhad Announces Appointment of Tan Sri Datuk Seri Panglima Sulong Bin Matjeraie as Independent and Non Executive Ember of Audit Committee Southern Acids (M) Berhad announced appointment of Tan Sri Datuk Seri Panglima Sulong Bin Matjeraie as Independent and Non Executive ember of Audit Committee. Date of change is November 26, 2020. Reported Earnings • Nov 27
Second quarter 2021 earnings released: EPS RM0.06 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM174.7m (up 4.7% from 2Q 2020). Net income: RM8.15m (up 6.0% from 2Q 2020). Profit margin: 4.7% (up from 4.6% in 2Q 2020). The increase in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year and the company’s share price has also fallen by 4% per year. Is New 90 Day High Low • Nov 17
New 90-day high: RM3.80 The company is up 3.0% from its price of RM3.70 on 18 August 2020. The Malaysian market is up 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 10.0% over the same period. Is New 90 Day High Low • Sep 24
New 90-day high: RM3.72 The company is up 9.0% from its price of RM3.41 on 25 June 2020. The Malaysian market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is down 6.0% over the same period. Upcoming Dividend • Sep 24
Upcoming Dividend of RM0.05 Per Share Will be paid on the 23rd of October to those who are registered shareholders by the 1st of October. The trailing yield of 1.3% is below the top quartile of Malaysian dividend payers (5.0%), and is lower than industry peers (2.2%).