Reported Earnings • May 28
First quarter 2026 earnings released: EPS: RM0.016 (vs RM0.028 in 1Q 2025) First quarter 2026 results: EPS: RM0.016 (down from RM0.028 in 1Q 2025). Revenue: RM113.9m (down 25% from 1Q 2025). Net income: RM41.9m (down 43% from 1Q 2025). Profit margin: 37% (down from 49% in 1Q 2025). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 26
UOA Development Bhd Approves Final Single-Tier Dividend for the Financial Year Ended 31 December 2025 UOA Development Bhdat its 22nd Annual General Meeting held on May 26, 2026, approved a Final Single Tier Dividend of 10 sen per share for the financial year ended 31 December 2025. Announcement • Apr 24
UOA Development Bhd, Annual General Meeting, May 26, 2026 UOA Development Bhd, Annual General Meeting, May 26, 2026, at 10:00 Singapore Standard Time. Location: summit 1, connexion conference &, event centre @the vertical, level m1, bangsar south city, no. 8, jalan kerinchi, 59200 kuala lumpur., Malaysia Reported Earnings • Mar 29
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: RM0.18 (up from RM0.11 in FY 2024). Revenue: RM674.3m (up 24% from FY 2024). Net income: RM474.0m (up 65% from FY 2024). Profit margin: 70% (up from 53% in FY 2024). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 29%. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 18% 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 • Feb 26
Full year 2025 earnings released: EPS: RM0.18 (vs RM0.11 in FY 2024) Full year 2025 results: EPS: RM0.18 (up from RM0.11 in FY 2024). Revenue: RM674.3m (up 24% from FY 2024). Net income: RM474.0m (up 65% from FY 2024). Profit margin: 70% (up from 53% in FY 2024). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. New Risk • Feb 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.2% 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 5.2% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (112% cash payout ratio). Large one-off items impacting financial results. Major Estimate Revision • Dec 03
Consensus EPS estimates increase by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has improved. 2025 revenue forecast increased from RM650.1m to RM671.3m. EPS estimate increased from RM0.12 to RM0.134 per share. Net income forecast to shrink 8.9% next year vs 13% growth forecast for Real Estate industry in Malaysia . Consensus price target broadly unchanged at RM2.01. Share price was steady at RM1.84 over the past week. Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: RM0.044 (vs RM0.019 in 3Q 2024) Third quarter 2025 results: EPS: RM0.044 (up from RM0.019 in 3Q 2024). Revenue: RM217.3m (up 54% from 3Q 2024). Net income: RM115.6m (up 139% from 3Q 2024). Profit margin: 53% (up from 34% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Sep 02
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. 5 experienced directors. 3 highly experienced directors. Independent & Non-Executive Director Eugene Lee was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 27
Second quarter 2025 earnings released: EPS: RM0.035 (vs RM0.025 in 2Q 2024) Second quarter 2025 results: EPS: RM0.035 (up from RM0.025 in 2Q 2024). Revenue: RM130.2m (up 31% from 2Q 2024). Net income: RM91.7m (up 50% from 2Q 2024). Profit margin: 71% (up from 62% in 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jun 13
Dividend of RM0.10 announced Shareholders will receive a dividend of RM0.10. Ex-date: 25th June 2025 Payment date: 25th July 2025 Dividend yield will be 5.5%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is covered by earnings (83% earnings payout ratio) but not covered by cash flows (182% 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 remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Reported Earnings • May 29
First quarter 2025 earnings released: EPS: RM0.028 (vs RM0.02 in 1Q 2024) First quarter 2025 results: EPS: RM0.028 (up from RM0.02 in 1Q 2024). Revenue: RM152.1m (up 117% from 1Q 2024). Net income: RM73.9m (up 49% from 1Q 2024). Profit margin: 49% (down from 71% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Real Estate industry in Malaysia. 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 2% per year, which means it is significantly lagging earnings. Announcement • May 28
UOA Development Bhd Approves Final Single Tier Dividend for the Financial Year Ended 31 December 2024 UOA Development Bhd at its AGM held on May 28, 2025, approved a final single tier dividend of 10 sen per share for the financial year ended 31 December 2024. Announcement • Apr 28
UOA Development Bhd, Annual General Meeting, May 28, 2025 UOA Development Bhd, Annual General Meeting, May 28, 2025, at 10:00 Singapore Standard Time. Location: summit 1, connexion conference &, event centre (ccec), level m1, the vertical, avenue 3, bangsar south city, no. 8, jalan kerinchi, 59200 kuala lumpur. Malaysia Reported Earnings • Mar 27
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: RM0.11. Revenue: RM545.7m (up 37% from FY 2023). Net income: RM287.3m (up 2.8% from FY 2023). Profit margin: 53% (down from 70% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 23%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Real Estate industry in Malaysia. Reported Earnings • Feb 25
Full year 2024 earnings released: EPS: RM0.11 (vs RM0.12 in FY 2023) Full year 2024 results: EPS: RM0.11. Revenue: RM545.7m (up 37% from FY 2023). Net income: RM287.3m (up 2.8% from FY 2023). Profit margin: 53% (down from 70% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Real Estate industry in Malaysia. Announcement • Feb 24
UOA Development Bhd Recommends First and Final Single Tier Dividend in Respect of the Financial Year Ended December 31, 2024 UOA Development Bhd announced that the Board has recommended a first and final single tier dividend of 10 sen per ordinary share in the Company in respect of the financial year ended December 31, 2024 . The Proposed Dividend shall be subject to the approval of the Company's shareholders at the forthcoming Twenty-First Annual General Meeting of the Company . Buy Or Sell Opportunity • Feb 10
Now 21% overvalued Over the last 90 days, the stock has fallen 6.5% to RM1.73. The fair value is estimated to be RM1.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 73% in 2 years. Earnings are forecast to decline by 1.7% in the next 2 years. Buy Or Sell Opportunity • Dec 21
Now 21% overvalued Over the last 90 days, the stock has fallen 3.8% to RM1.78. The fair value is estimated to be RM1.48, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Earnings per share has grown by 9.1%. Revenue is forecast to grow by 73% in 2 years. Earnings are forecast to decline by 1.7% in the next 2 years. New Risk • Nov 26
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 111% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 91% Dividend per share is over 46x cash flows per share. Shareholders have been substantially diluted in the past year (111% increase in shares outstanding). Minor Risk Large one-off items impacting financial results. Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: RM0.019 (vs RM0.021 in 3Q 2023) Third quarter 2024 results: EPS: RM0.019 (down from RM0.021 in 3Q 2023). Revenue: RM141.4m (up 32% from 3Q 2023). Net income: RM48.3m (down 5.0% from 3Q 2023). Profit margin: 34% (down from 48% in 3Q 2023). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% 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 0.1% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (337% cash payout ratio). Large one-off items impacting financial results. Shareholders have been diluted in the past year (7.9% increase in shares outstanding). Reported Earnings • Aug 28
Second quarter 2024 earnings released: EPS: RM0.025 (vs RM0.027 in 2Q 2023) Second quarter 2024 results: EPS: RM0.025 (down from RM0.027 in 2Q 2023). Revenue: RM99.2m (up 1.1% from 2Q 2023). Net income: RM61.1m (down 4.4% from 2Q 2023). Profit margin: 62% (down from 65% in 2Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Real Estate 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 4% per year. Declared Dividend • Jun 07
Dividend of RM0.10 announced Shareholders will receive a dividend of RM0.10. Ex-date: 21st June 2024 Payment date: 23rd July 2024 Dividend yield will be 15%, which is higher than the industry average of 3.8%. Sustainability & Growth Dividend is not covered by earnings (260% earnings payout ratio) nor is it covered by cash flows (234% cash payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 189% to bring the payout ratio under control. However, EPS is expected to decline by 1.2% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • May 29
First quarter 2024 earnings released: EPS: RM0.02 (vs RM0.019 in 1Q 2023) First quarter 2024 results: EPS: RM0.02 (up from RM0.019 in 1Q 2023). Revenue: RM70.3m (down 18% from 1Q 2023). Net income: RM49.7m (up 7.8% from 1Q 2023). Profit margin: 71% (up from 54% in 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Real Estate 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 3% per year, which means it is well ahead of earnings. Announcement • Apr 28
UOA Development Bhd, Annual General Meeting, May 28, 2024 UOA Development Bhd, Annual General Meeting, May 28, 2024, at 10:00 Singapore Standard Time. Location: Spectrum, Level 3A, Connexion Conference & Event Centre@Nexus Bangsar South City, No. 7, Jalan Kerinchi Kuala Lumpur Malaysia Agenda: To lay the Audited Financial Statements for the financial year ended 31 December 2023 together with the Directors' and Auditors' Report thereon; to approve a Final Single Tier Dividend of 10 sen per share for the financial year ended 31 December;to approve the payment of Directors' fees and meeting allowances payable up to an amount of RM211,000.00 for the financial year ending 31 December 2024; and to consider other matters. New Risk • Feb 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.6% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 339% Cash payout ratio: 203% Earnings are forecast to decline by an average of 0.6% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.4% increase in shares outstanding). Reported Earnings • Feb 28
Full year 2023 earnings released: EPS: RM0.12 (vs RM0.093 in FY 2022) Full year 2023 results: EPS: RM0.12 (up from RM0.093 in FY 2022). Revenue: RM399.4m (down 12% from FY 2022). Net income: RM279.6m (up 27% from FY 2022). Profit margin: 70% (up from 49% in FY 2022). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Feb 28
UOA Development Bhd Recommends Final Single Tier Dividend for the Financial Year Ended 31 December 2023 The Board of Directors' of UOA Development Bhd announced that the Board has recommended a final single tier dividend of 10 sen per ordinary share in the Company in respect of the financial year ended 31 December 2023 (Proposed Dividend). The Proposed Dividend shall be subject to the approval of the Company's shareholders at the upcoming Twentieth Annual General Meeting of the Company (AGM). Subject to the relevant regulatory approvals being obtained and the Shareholders' approval at the AGM, the Board recommends the Shareholders to be given an option to elect to reinvest the entire Proposed Dividend into new ordinary shares in the Company in accordance with the dividend reinvestment scheme which was approved by the Shareholders at the Extraordinary General Meeting of the Company held on 29 May 2012 and renewed at the Annual General Meeting of the Company held on 22 May 2023. Reported Earnings • Nov 28
Third quarter 2023 earnings released: EPS: RM0.021 (vs RM0.04 in 3Q 2022) Third quarter 2023 results: EPS: RM0.021 (down from RM0.04 in 3Q 2022). Revenue: RM107.0m (down 35% from 3Q 2022). Net income: RM50.9m (down 47% from 3Q 2022). Profit margin: 48% (down from 59% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Buying Opportunity • Nov 09
Now 20% undervalued Over the last 90 days, the stock is up 1.8%. The fair value is estimated to be RM2.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Earnings per share has declined by 30%. Revenue is forecast to grow by 36% in 2 years. Earnings is forecast to decline by 10% in the next 2 years. Buying Opportunity • Sep 15
Now 20% undervalued Over the last 90 days, the stock is up 7.6%. The fair value is estimated to be RM2.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 30% over the last 3 years. Earnings per share has declined by 30%. Revenue is forecast to grow by 36% in 2 years. Earnings is forecast to decline by 10% in the next 2 years. New Risk • Sep 09
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 278% Cash payout ratio: 139% Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. Minor Risk Shareholders have been diluted in the past year (3.4% increase in shares outstanding). New Risk • Aug 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.3% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 278% Cash payout ratio: 135% Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: RM0.027 (vs RM0.019 in 2Q 2022) Second quarter 2023 results: EPS: RM0.027 (up from RM0.019 in 2Q 2022). Revenue: RM98.1m (down 19% from 2Q 2022). Net income: RM63.9m (up 41% from 2Q 2022). Profit margin: 65% (up from 37% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 02
Upcoming dividend of RM0.20 per share at 11% yield Eligible shareholders must have bought the stock before 09 August 2023. Payment date: 08 September 2023. Payout ratio is on the higher end at 99%, however this is supported by cash flows. Trailing yield: 11%. Within top quartile of Malaysian dividend payers (5.3%). Higher than average of industry peers (4.5%). New Risk • Aug 01
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 99% Cash payout ratio: 95% Dividend yield: 11% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Jul 27
UOA Development Bhd Announces First Interim Dividend for the Financial Year Ending 31 December 2023, Payable on 8 September 2023 UOA Development Bhd announced first interim dividend of 20 sen per ordinary share in respect of the financial year ending 31 December 2023. Ex-date is 9 August 2023. Payment date is 8 September 2023. Announcement • Jul 21
UOA Development Bhd Proposes First Interim Dividend in Respect of the Financial Year Ending 31 December 2023 UOA Development Bhd announced that on 18 July 2023, the Board of Directors of the Company had proposed the Company’s first interim dividend in respect of the financial year ending 31 December 2023 (‘First Interim Dividend’) of 20 sen per ordinary share in UOA Development. Upcoming Dividend • Jun 07
Upcoming dividend of RM0.10 per share at 5.9% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 14 July 2023. Payout ratio is on the higher end at 99%, however this is supported by cash flows. Trailing yield: 5.9%. Within top quartile of Malaysian dividend payers (5.4%). Higher than average of industry peers (4.6%). Announcement • May 31
UOA Development Bhd Announces First and Final Single Tier Dividend for the Financial Year Ended December 31, 2022, Payable on July 14, 2023 UOA Development Bhd announced first and final single tier dividend of 10 sen per ordinary share in company in respect of the financial year ended 31 December 2022. Ex-date is June 14, 2023. Entitlement date is June 15, 2023. Payment date is July 14, 2023. Major Estimate Revision • May 29
Consensus revenue estimates increase by 16% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from RM494.3m to RM571.7m. EPS estimate unchanged from RM0.091 at last update. Real Estate industry in Malaysia expected to see average net income growth of 2.7% next year. Consensus price target broadly unchanged at RM1.73. Share price was steady at RM1.76 over the past week. Reported Earnings • May 23
First quarter 2023 earnings released: EPS: RM0.019 (vs RM0.011 in 1Q 2022) First quarter 2023 results: EPS: RM0.019 (up from RM0.011 in 1Q 2022). Revenue: RM85.2m (up 56% from 1Q 2022). Net income: RM46.1m (up 82% from 1Q 2022). Profit margin: 54% (up from 47% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Mar 29
Full year 2022 earnings: EPS in line with expectations, revenues disappoint Full year 2022 results: EPS: RM0.093 (down from RM0.10 in FY 2021). Revenue: RM451.7m (down 18% from FY 2021). Net income: RM219.9m (down 1.1% from FY 2021). Profit margin: 49% (up from 41% in FY 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Feb 23
Full year 2022 earnings released: EPS: RM0.093 (vs RM0.10 in FY 2021) Full year 2022 results: EPS: RM0.093 (down from RM0.10 in FY 2021). Revenue: RM451.7m (down 18% from FY 2021). Net income: RM219.9m (down 1.1% from FY 2021). Profit margin: 49% (up from 41% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.5% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 36% 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 • Dec 03
Third quarter 2022 earnings released: EPS: RM0.04 (vs RM0.015 in 3Q 2021) Third quarter 2022 results: EPS: RM0.04 (up from RM0.015 in 3Q 2021). Revenue: RM163.4m (up 199% from 3Q 2021). Net income: RM96.2m (up 190% from 3Q 2021). Profit margin: 59% (down from 61% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.8% growth forecast for the Real Estate industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 35% 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. Major Estimate Revision • Aug 30
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from RM533.7m to RM461.3m. EPS estimate fell from RM0.08 to RM0.07 per share. Net income forecast to shrink 16% next year vs 14% growth forecast for Real Estate industry in Malaysia . Consensus price target broadly unchanged at RM1.73. Share price was steady at RM1.72 over the past week. Reported Earnings • Aug 24
Second quarter 2022 earnings released: EPS: RM0.02 (vs RM0.026 in 2Q 2021) Second quarter 2022 results: EPS: RM0.02 (down from RM0.026 in 2Q 2021). Revenue: RM121.1m (down 44% from 2Q 2021). Net income: RM45.3m (down 17% from 2Q 2021). Profit margin: 37% (up from 25% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 53%, compared to a 19% growth forecast for the Real Estate industry in Malaysia. 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. Upcoming Dividend • Jun 14
Upcoming dividend of RM0.10 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 21 July 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 5.6%. Within top quartile of Malaysian dividend payers (4.8%). Higher than average of industry peers (3.6%). Announcement • Jun 08
UOA Development Bhd Announces First and Final Single Tier Dividend for the Financial Year Ended December 31, 2021, Payable on July 21, 2022 UOA Development Bhd announced First and final single tier dividend of 10 sen per ordinary share for the financial year ended December 31, 2021. Ex-dividend date is June 21, 2022. Entitlement date is June 22, 2022. Payable on July 21, 2022. Major Estimate Revision • Jun 06
Consensus revenue estimates fall by 14% The consensus outlook for revenues in 2022 has deteriorated. 2022 revenue forecast decreased from RM624.1m to RM533.7m. EPS estimate fell from RM0.08 to RM0.08 per share. Net income forecast to shrink 15% next year vs 36% growth forecast for Real Estate industry in Malaysia . Consensus price target broadly unchanged at RM1.74. Share price was steady at RM1.91 over the past week. Reported Earnings • May 31
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: RM0.011 (down from RM0.017 in 1Q 2021). Revenue: RM54.6m (down 61% from 1Q 2021). Net income: RM25.4m (down 30% from 1Q 2021). Profit margin: 47% (up from 26% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 39%, compared to a 18% growth forecast for the industry in Malaysia. 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 6% per year, which means it has not declined as severely as earnings. Announcement • Apr 09
UOA Development Bhd Announces the Re-Designation of Kong Pak Lim from Director to Chairman UOA Development Bhd announced the re-designation of Mr. Kong Pak Lim from Director to Chairman, Date of change is April 8, 2022. Reported Earnings • Mar 28
Full year 2021 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2021 results: EPS: RM0.10 (down from RM0.19 in FY 2020). Revenue: RM547.5m (down 35% from FY 2020). Net income: RM222.4m (down 43% from FY 2020). Profit margin: 41% (down from 46% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 14%, compared to a 14% growth forecast for the industry in Malaysia. 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 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 25
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: RM0.10 (down from RM0.19 in FY 2020). Revenue: RM547.5m (down 35% from FY 2020). Net income: RM222.4m (down 43% from FY 2020). Profit margin: 41% (down from 46% in FY 2020). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 14%, compared to a 16% growth forecast for the industry in Malaysia. 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 8% per year, which means it has not declined as severely as earnings. Announcement • Feb 25
UOA Development Bhd, Annual General Meeting, May 25, 2022 UOA Development Bhd, Annual General Meeting, May 25, 2022. Announcement • Feb 24
UOA Development Bhd Recommends A First and Final Single Tier Dividend of the Financial Year Ended 31 December 2021 UOA Development Bhd announced that the Board has recommended a first and final single tier dividend of 10 sen per ordinary share in the Company in respect of the financial year ended 31 December 2021. The Proposed Dividend shall be subject to the approval of the Company's shareholders ("Shareholders") at the forthcoming Eighteenth Annual General Meeting of the Company ("AGM"). Major Estimate Revision • Dec 03
Consensus EPS estimates fall to RM0.087 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from RM615.3m to RM573.9m. EPS estimate also fell from RM0.098 to RM0.087. Net income forecast to grow 18% next year vs 18% growth forecast for Real Estate industry in Malaysia. Consensus price target broadly unchanged at RM1.78. Share price fell 4.1% to RM1.63 over the past week. Reported Earnings • Nov 28
Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2021 results: EPS: RM0.015 (down from RM0.10 in 3Q 2020). Revenue: RM54.6m (down 59% from 3Q 2020). Net income: RM33.1m (down 84% from 3Q 2020). Profit margin: 61% (down from 156% in 3Q 2020). The decrease in margin was driven by lower expenses. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) missed analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 10%, compared to a 8.9% growth forecast for the industry in Malaysia. Over the last 3 years on average, earnings per share has fallen by 19% 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 • Aug 27
Second quarter 2021 earnings released: EPS RM0.026 (vs RM0.012 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: RM216.3m (up 54% from 2Q 2020). Net income: RM54.4m (up 135% from 2Q 2020). Profit margin: 25% (up from 17% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year and the company’s share price has also fallen by 12% per year. Executive Departure • Jul 16
Independent Non-Executive Chairman Alan Winduss has left the company On the 14th of July, Alan Winduss' tenure as Independent Non-Executive Chairman ended after 10.5 years in the role. As of March 2021, Alan still personally held only 105.70k shares (RM190k worth at the time). A total of 2 executives have left over the last 12 months. Upcoming Dividend • Jun 16
Upcoming dividend of RM0.15 per share Eligible shareholders must have bought the stock before 22 June 2021. Payment date: 22 July 2021. Trailing yield: 7.4%. Within top quartile of Malaysian dividend payers (3.9%). Higher than average of industry peers (4.0%). Major Estimate Revision • Jun 01
Consensus revenue estimates fall to RM655.2m The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from RM801.0m to RM655.2m. EPS estimate fell from RM0.12 to RM0.10 per share. Net income forecast to shrink 34% next year vs 24% growth forecast for Real Estate industry in Malaysia . Consensus price target down from RM1.92 to RM1.87. Share price was steady at RM1.79 over the past week. Reported Earnings • May 26
First quarter 2021 earnings released: EPS RM0.017 (vs RM0.063 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: RM140.2m (down 63% from 1Q 2020). Net income: RM36.1m (down 71% from 1Q 2020). Profit margin: 26% (down from 33% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Mar 24
Full year 2020 earnings released: EPS RM0.19 (vs RM0.21 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: RM844.6m (down 24% from FY 2019). Net income: RM391.3m (down 2.0% from FY 2019). Profit margin: 46% (up from 36% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 10% per year. Reported Earnings • Feb 26
Full year 2020 earnings released: EPS RM0.19 (vs RM0.21 in FY 2019) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2020 results: Revenue: RM844.6m (down 24% from FY 2019). Net income: RM391.3m (down 2.0% from FY 2019). Profit margin: 46% (up from 36% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 12% per year. Analyst Estimate Surprise Post Earnings • Feb 26
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 1.3%. Over the next year, revenue is expected to shrink by 5.2% compared to a 7.6% growth forecast for the Real Estate industry in Malaysia. Is New 90 Day High Low • Feb 25
New 90-day high: RM1.79 The company is up 13% from its price of RM1.59 on 27 November 2020. The Malaysian market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is RM1.03 per share.